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May WTI Crude Oil Contract Closes Up US$2.89; Settles at US$95.85 per Barrel

Update: Union Pacific Shares Rise After Q1 Earnings Beat

(Updates with the latest stock movement in the headline and the first paragraph.)Union Pacific (UNP) shares rose 7.6% in Thursday trading after the company reported a Q1 earnings beat and higher revenue than a year earlier.The company reported Q1 earnings of $2.87 per diluted share, compared with $2.70 a year earlier.Analysts surveyed by FactSet expected $2.84.Total operating revenue for the quarter ended March 31 was $6.22 billion, compared with $6.03 billion a year earlier.Analysts surveyed by FactSet expected $6.23 billion.The company said it continues to expect mid-single-digit earnings per share growth for full-year 2026.Price: $268.46, Change: $+19.06, Percent Change: +7.64%

$UNP

Wire56d ago

Update: STMicroelectronics Shares Rise After Q1 Revenue Beats Consensus

(Updates with stock movement in the headline and first paragraph.)STMicroelectronics (STM) shares rose 13% in Thursday trading after the company reported Q1 revenue that beat the Wall Street consensus.Revenue in the three months ended March 28 rose to $3.1 billion from $2.52 billion a year earlier.Analysts polled by FactSet expected $3.04 billion.Non-GAAP earnings rose to $0.13 per diluted share from $0.07 per share a year earlier.Analysts polled by FactSet expected $0.18.The company expects Q2 revenue of $3.45 billion. Analysts polled by FactSet project $3.16 billion.Price: $50.58, Change: $+5.72, Percent Change: +12.75%

$STM

Wire56d ago

Update: ASGN Shares Drop After Q1 Adjusted EPS, Revenue Miss Estimates

(Updates with the latest stock move in the headline and the first paragraph, UBS downgrade in the eighth paragraph.)ASGN (ASGN) shares were down 47.5% in Thursday trading after the company reported fiscal Q1 results that missed analyst expectations on both earnings and revenue and issued a weaker-than-expected Q2 outlook.The company reported fiscal Q1 non-GAAP net income late Wednesday of $0.69 per diluted share, down from $0.92 a year earlier.Analysts polled by FactSet expected $0.98.Revenue for the quarter ended March 31 was $968.3 million, unchanged from $968.3 million a year earlier.Analysts expected $972.8 million.For fiscal Q2, the company expects non-GAAP EPS of $0.72 to $0.90, and revenue of $970 million to $1 billion.Analysts are looking for $1.28 and $1.02 billion, respectively.UBS adjusted its price target on ASGN to $35 from $39 and maintained its sell rating.Price: $21.22, Change: $-19.21, Percent Change: -47.51%

$ASGN

Wire56d ago

Update: Molina Healthcare Shares Climb After Q1 Adjusted Earnings Beat

(Updates with the latest stock move in the headline and in the first paragraph.)Molina Healthcare (MOH) shares were up more than 12% in Thursday afternoon trading, a day after the company reported Q1 adjusted earnings that topped analysts' expectations.The company reported quarterly adjusted earnings late Wednesday of $2.35 per diluted share, down from $6.08 a year earlier.Analysts polled by FactSet expected $1.90.Revenue for the three months ended March 31 was $10.80 billion, down from $11.15 billion a year earlier.Analysts surveyed by FactSet expected $10.87 billion.For full-year 2026, the company reaffirmed adjusted EPS outlook of at least $5.00 on premium revenue of about $42 billion. Analysts expect EPS of $4.96 on premium revenue of $43.04 billion.Price: $171.60, Change: $+18.60, Percent Change: +12.15%

$MOH

Wire56d ago

Teck Resources Keeps Quarterly Dividend at CA$0.125 a Share, Payable June 30 to Holders of Record as of June 15

$TECK

US Markets56d ago

Equities Fall Intraday Amid Tech Sell-Off; Oil Rises

US benchmark equity indexes were lower intraday as traders dumped technology stocks, while increased tensions in the Strait of Hormuz sent oil prices higher.The Nasdaq Composite was down 1.3% at 24,336.1 after midday Thursday, while the Dow Jones Industrial Average shed 0.9% to 49,068.4. The S&P 500 lost 0.9% to 7,076.7. Both the Nasdaq and the S&P 500 hit fresh record highs in the previous session.Among sectors, technology saw the steepest decline, shedding 1.8% intraday, while utilities paced the gainers with a 2.4% advance.ServiceNow (NOW) shares sank 18%, the worst performer on the S&P 500, following its quarterly results.Shares of other major tech names were also lower, including Salesforce (CRM), down 9.3% intraday, which was the steepest decline on the Dow, while Microsoft (MSFT) fell 4.2%.International Business Machines (IBM) followed Salesforce on the Dow, falling 9%. Late Wednesday, the technology giant maintained its full-year revenue growth outlook even as it reported first-quarter results above Wall Street's estimates.Tesla (TSLA) declined 2.9% intraday, despite the company reporting stronger-than-expected first-quarter results. The electric vehicle manufacturer said late Wednesday that it is ramping up its capital investments, while Chief Financial Officer Vaibhav Taneja flagged a negative free cash flow for the rest of 2026.Tesla's aggressive capital spending on artificial intelligence initiatives should boost revenue, though it may take some time before those gains materialize, UBS Securities said in a Thursday note to clients.American Express (AXP) shares were down 4.6%, among the biggest declines on the Dow, even as the payments company reported better-than-expected first-quarter results and reiterated its full-year outlook.West Texas Intermediate crude oil was up 3.9% at $96.60 per barrel, while Brent rose 3.6% to $105.55.US President Donald Trump ordered the US navy to "shoot and kill any boat" placing mines in the Strait of Hormuz, he said in a social media post on Thursday.In another post, Trump claimed that the US has "total control" over the key oil supply chokepoint, which he said was sealed "until such time as Iran is able to make a deal."Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly seized two tankers attempting to cross the Strait of Hormuz."Hopes for a resolution between the US and Iran are fading as peace talks stall," ING Bank said Thursday in a report. "If no progress is made, the market will become increasingly numb to the noise and headlines that have dictated price action recently."US Treasury yields were higher intraday, with the 10-year rate up 1.9 basis points at 4.33% and the two-year rate rising 2.1 basis points at 3.83%.In other company news, Comcast (CMCSA) reported higher-than-expected first-quarter results as the media and connectivity giant benefited from the Milan Cortina Winter Olympics and Super Bowl LX. The company's shares were up 8.3% intraday.Thermo Fisher Scientific (TMO) raised its full-year outlook on Thursday as first-quarter results came in stronger than expected, even as organic growth fell short of analysts' estimates. The stock was down nearly 11%, among the steepest declines on the S&P 500.Lockheed Martin's (LMT) first-quarter earnings decreased more than expected, while its sales fell short of market estimates. The defense contractor's shares were 5.5% lower.Gold was little changed at $4,751 per troy ounce, while silver lost 2.2% to $76.29 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$CMCSA$IBM$LMT$MSFT$NOW$TMO$TSLA

Commodities56d ago

US Grand Jury Indicts 14 in Permian Basin Oil Theft, Trafficking Scheme

A US federal grand jury has indicted 14 defendants from Texas and New Mexico in connection with an alleged large-scale crude oil theft and trafficking operation centered in the Permian Basin, the US Attorney for the Northern District of Texas said in a statement on Wednesday.The indictment charges all defendants with conspiracy to transport stolen property in interstate commerce. Several defendants also face additional counts of interstate transportation of stolen property, as well as receipt, possession, or sale of stolen property.According to the indictment, returned April 8, the defendants allegedly conspired to steal crude oil from producers in the eastern New Mexico portion of the Permian Basin and move it across state lines for resale.Prosecutors allege that some of the stolen oil was stored on land leased from the federal government by one of the defendants. That individual then allegedly sold the crude to other members of the scheme at prices well below West Texas Intermediate benchmarks, the standard pricing reference for crude oil in the region and across much of the US.Authorities say the group then transported the stolen oil across the New Mexico-Texas border, where it was resold at a profit, with participants allegedly aware the product had been stolen.If convicted, each defendant faces up to five years in prison on the conspiracy charge. Additional counts carry penalties of up to 10 years per charge.

Wire56d ago

Barclays Adjusts Price Target on Union Pacific to $315 From $285, Maintains Overweight Rating

Union Pacific (UNP) has an average rating of overweight and mean price target of $275.77, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $268.37, Change: $+18.97, Percent Change: +7.61%

$UNP

Mining & Metals56d ago

Chesapeake Gold Receives a U.S. Patent for Enhanced Metal Recovery From Sulphide Ores

Chesapeake Gold (CKG.V) received a U.S. Patent from the U.S. Patent and Trademark Office for its proprietary method of enhanced metal recovery from sulphide ores, it said Thursday.The company has patents issued and pending in the U.S., Canada, Argentina, Australia, Brazil, Chile, Mexico, Peru and Africa."The patent supports our corporate strategy to build shareholder value from the technology, unlocking economic value from refractory sulphide gold and silver projects," said Chief Executive Jean-Paul Tsotsos.Shares of the company were last seen down $0.12 to $3.38 on the TSX Venture Exchange.Price: $3.38, Change: $-0.12, Percent Change: -3.43%

$CKG.V

Wire56d ago

JPMorgan Adjusts Price Target on Thermo Fisher Scientific to $600 From $710, Maintains Overweight Rating

Thermo Fisher Scientific (TMO) has an average rating of buy and mean price target of $651.21, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $460.58, Change: $-53.40, Percent Change: -10.39%

$TMO

Sectors56d ago

Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.The Philadelphia Oil Service Sector Index was climbing 1.5%, and the Dow Jones US Utilities Index was rising 2.3%.In sector news, President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported. The US and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege. Mediators are trying to get the diplomatic process back on track, including arranging a possible meeting between warring parties as soon as Friday, The Wall Street Journal reported.Front-month West Texas Intermediate crude oil was rising 5.3% to $97.92 a barrel, and the global benchmark Brent crude contract was advancing 4.1% to $106.04 a barrel. Henry Hub natural gas futures fell 5% to $2.59 per 1 million BTU.US natural gas stocks rose by 103 billion cubic feet in the week ended April 17, a larger gain than the 96 billion increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following a revised increase of 60 billion cubic feet in the previous week.In corporate news, PG&E (PCG) reported Q1 adjusted earnings Thursday of $0.43 per share, up from $0.33 a year earlier. Analysts surveyed by FactSet expected $0.40. Its shares were 0.2% higher.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have agreed to merge in an all-stock deal to form an integrated offshore services company. Helix Energy Solutions shares rose 0.6%.BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday. BP shares were down 0.3%.

$BP$HLX$PCG

Wire56d ago

Update: Infosys Shares Fall After Fiscal Q4 Results

(Updates with the latest stock move in the headline and the first paragraph.)Infosys (INFY) shares were down 4.9% in Thursday afternoon trading after the company posted its results for fiscal Q4.The company reported quarterly earnings of $0.23 per diluted share, up from $0.20 a year earlier.Analysts polled by FactSet expect $0.20.Revenue for the quarter ended March 31 was $5.04 billion, up from $4.73 billion a year earlier.Analysts polled by FactSet expect $4.99 billion.For full-year fiscal 2027, the company expects revenue growth of 1.5% to 3.5%.Price: $12.83, Change: $-0.66, Percent Change: -4.86%

$INFY

Wire56d ago

FBN Securities Cuts Price Target on ServiceNow to $120 From $160

ServiceNow (NOW) has an average rating of buy and mean price target of $147.74, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $85.09, Change: $-17.98, Percent Change: -17.44%

$NOW

Wire56d ago

Cantor Fitzgerald Raises Price Target on CrowdStrike to $550 From $520

CrowdStrike (CRWD) has an average rating of overweight and mean price target of $484.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $442.25, Change: $-24.43, Percent Change: -5.23%

$CRWD

Wire56d ago

Correction: Jefferies Raises Las Vegas Sands Price Target to $63 From $61, Hold Rating Maintained

(Corrected the headline with the rating reiteration and price target raise).Las Vegas Sands (LVS) has an average rating of overweight and mean price target of $69.87, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $51.37, Change: $-5.48, Percent Change: -9.64%

$LVS

Sectors56d ago

Sector Update: Financial Stocks Decline Thursday Afternoon

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index dropping 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.6%.Bitcoin (BTC-USD) was decreasing 1.4% to $77,791, and the yield for 10-year US Treasuries was rising 4.3 basis points to 4.337%.In economic news, US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.The April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.In corporate news, Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported, citing High Court documents. Barclays shares fell 2.3%.Banco Santander (SAN) shares dropped 3% after the company said it will temporarily suspend its share buyback program pending approval from US lender Webster Financial's (WBS) shareholders of a proposed takeover by the Spanish bank.Voya Financial (VOYA) has been encouraged by activist investor Toms Capital Investment Management to put itself up for sale or offload its underperforming health insurer business, the Financial Times reported. Voya shares jumped 5%.

$BCS$SAN$VOYA

Wire56d ago

MGIC Approves Additional Share Repurchase Program

MGIC Investment (MTG) said Thursday its board has approved an additional share repurchase program, with authorization to buy up to $750 million of its shares.MGIC also maintained its quarterly dividend at $0.15 per share, payable May 21 to shareholders of record May 6.Price: $28.59, Change: $+0.41, Percent Change: +1.47%

$MTG

Oil & Energy56d ago

US Oil Update: Futures Climb on US-Iran Naval Standoff Over Hormuz

Crude oil futures advanced in midday trading on Thursday after President Trump threatened to attack ships laying mines in the Strait of Hormuz, stoking concerns over potential disruption to global oil flows through the key shipping chokepoint.Front-month West Texas Intermediate crude futures climbed by 4.09% to $96.76 per barrel, while Brent futures were up 3.70% to $105.68/bbl.US crude stockpiles rose by 1.9 million barrels to 465.7 mmbbls in the week ended April 17, the Energy Information Administration said in its weekly report on Wednesday. Crude inventories are now about 3% above the five-year average for this time of year, the EIA said.The agency said that US gasoline stocks fell by 4.6 mmbbls to 228.4 mmbbls and distillate stockpiles by 3.4 mmbbls to 108.1 mmbbls.ING strategists said that, though the US market has been relatively shielded from Middle East supply disruptions, prolonged instability is tightening conditions as global buyers increasingly turn to US supplies.Meanwhile, the US and Iran seized commercial ships in the Strait this week, as the two sides compete for control of the strategic waterway despite the extension of a ceasefire after a request from Pakistan.On Thursday, the US Department of War said its forces intercepted a sanctioned tanker in the Indian Ocean that was carrying oil from Iran. The interception comes a day after the US blocked the Iranian tankers M/V Hero II, M/V Hedy and M/V Dorena."We will continue global maritime enforcement to disrupt illicit networks and interdict vessels providing material support to Iran, wherever they operate," the Department said.Trump said on Thursday that he had ordered the US Navy to "shoot and kill" boats laying mines in the Hormuz, while claiming that Washington now has "total control" over the passage and directed the military to act without hesitation against Iranian small boats.Iranian officials, on the other hand, have accused the US of breaching its commitments under a 10-point framework that Iran offered at the start of a fragile ceasefire, with parliament speaker Mohammad Baqer Qalibaf saying a full ceasefire will only make sense if the US lifts its blockade.The deputy speaker of Iran's parliament, Hamidreza Haji Babaei, also said that the first tranche of tolls collected from ships passing the Hormuz has been deposited into the Iranian central bank's account, according to local media.Soojin Kim, research analyst at MUFG, said the conflict has sharply reduced energy flows from the Arabian Gulf, driving a rally in oil prices, while falling US inventories and record exports highlight growing reliance on American supplies to offset shortages.

Wire56d ago

Top Midday Decliners

Avis Budget Group's (CAR) stock plunged 48% as intraday volume topped 13.6 million shares versus the daily average of about 2.12 million.The shares slumped for the second straight day after short sellers pocketed $2.8 billion in Wednesday's rout, Bloomberg reported, citing data from S3 Partners.ASGN (ASGN) shares tumbled 46% a day after the company reported lower Q1 adjusted net income and issued weaker-than-expected Q2 guidance.Volume topped 5.63 million shares versus the daily average of 830,549.ServiceNow (NOW) faces softer organic revenue trends and a slightly weaker margin outlook even after strong Q1 results, Oppenheimer said.The stock fell 18% as volume topped 65 million shares versus the daily average of almost 21.9 million.Price: $230.94, Change: $-213.00, Percent Change: -47.98%

$ASGN$CAR$NOW

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US Markets56d ago

Equities Fall Intraday Amid Tech Sell-Off; Oil Rises

Dow JonesNasdaq CompositeS&P 500$AXP$CMCSA$IBM$LMT$MSFT$NOW$TMO$TSLA