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Market Chatter: WEX Shareholders Urged by Impactive Capital to Replace CEO on Board Next Month

WEX (WEX) shareholders are being urged by Impactive Capital to replace the company's Chief Executive Officer Melissa Smith on its board of directors at its annual meeting next month, Reuters reported Friday, citing sources and documents.Impactive Capital, which owns about 5% of WEX, wants to replace three sitting directors, including CEO Smith, who is also the company's board chair, the report said, adding that the hedge fund does not want to replace the CEO, but replace her on the board and to separate the CEO and chair roles.The hedge fund further said that Smith's pay is too high and the board's governance record is poor, Reuters reported.WEX did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $157.98, Change: $-1.52, Percent Change: -0.95%

$WEX

Oil & Energy57d ago

Trump Administration Reportedly Weighs Russian Oil Waiver Extension to Curb Supply Shock

The US is set to extend a Russian oil waiver freeing about 100 million barrels, aiming to ease supply shocks, according to multiple media reports.The Trump administration is expected to renew the exemption allowing purchases of sanctioned Russian oil and products, with a decision likely as early as Friday, according to reports.The current 30-day waiver, introduced in mid-March, permits transactions involving Russian oil already at sea and is due to expire on Apr. 11.US Treasury Secretary Scott Bessent reportedly discussed the extension with President Donald Trump on Thursday, with both agreeing the move would help manage rising energy costs.Several Asian nations are reportedly urging the US to renew the waiver, citing energy shortages and rising costs linked to the Iran conflict.India and the Philippines are among countries seeking continued access to Russian crude shipments already in transit, as governments try to secure supply amid tightening markets, according to the report.An Indian delegation in Washington is reportedly urging US officials to extend the waiver on Iranian crude and to widen existing exemptions covering Russian liquefied natural gas.An Indian official reportedly said New Delhi expects the US to extend the waiver, while denying it is actively seeking exemptions, adding that the country continues to import significant volumes of Russian oil.The International Energy Agency said the crisis has triggered the largest supply disruption on record, intensifying concerns over fuel costs ahead of the US midterm elections in November.A potential waiver, however, risks undermining Western sanctions on Russia, potentially boosting revenue for its war in Ukraine and creating tensions with European allies opposed to easing restrictions.European Commission President Ursula von der Leyen said the current environment does not justify loosening sanctions, highlighting growing divisions among Western partners.On Mar. 20, Washington introduced a 30-day waiver involving Iranian oil shipments at sea.Lawmakers in Washington have also criticized the policy, with Republicans and Democrats warning the waiver could benefit both Russia and Iran at a time of heightened geopolitical tensions.Oil prices remain over 30% above pre-conflict levels, reflecting ongoing volatility and limited supply options following military actions involving the US and Israel.has reached out to the White House, the US Department of the Treasury, and India's Ministry of External Affairs for any comments.

Wire57d ago

Similarweb Shares Fall After Citigroup Downgrade

Similarweb (SMWB) shares were down over 6% in Friday trading after Citigroup downgraded the stock to neutral from buy and cut its price target to $3 per share from $8.5.Trading volume stood at more than 444,000 shares, compared with a daily average of about 954,000.Price: $2.31, Change: $-0.17, Percent Change: -6.85%

$SMWB

Wire57d ago

Autodesk Shares Fall After Citigroup Downgrade

Autodesk (ADSK) shares fell 4.5% in Friday trading after Citigroup downgraded the stock to neutral from buy and adjusted its price target to $246 per share from $331.Trading volume stood at over 1.4 million shares compared with a daily average of nearly 2.3 million.Price: $214.91, Change: $-10.22, Percent Change: -4.54%

$ADSK

Mining & Metals57d ago

Sailfish Royalty Completes Sale of Subsidiary Terraco Gold to OR Royalties

Sailfish Royalty (FISH.V), down 2.4% on last look, said on Friday that it has completed the sale of its subsidiary Terraco Gold to OR Royalties (OR.TO) for US$168 million in cash.Terraco Gold holds a 3% net smelter return (NSR) royalty on Solidus Resources' Spring Valley gold project and a 2% NSR royalty on Solidus Moonlight property, both in Nevada."The sale of the Spring Valley and Moonlight royalties meaningfully reduces portfolio concentration risk while strengthening our cash position at a time of significant opportunity in the current market. Sailfish intends to redeploy this capital within the mining sector, with a strong focus on precious metals streams and royalties, to support our robust dividend policy," said CEO Paolo Lostritto.Sailfish shares were last seen down $0.09, to $3.63, on the TSX Venture Exchange.Price: $3.63, Change: $-0.09, Percent Change: -2.42%

$FISH.V$OR.TO

Wire57d ago

DocuSign Shares Fall After Citigroup Downgrade

DocuSign (DOCU) shares were down nearly 7% in Friday trading after Citigroup downgraded the company's stock to neutral from buy and adjusted its price target to $50 from $99.Trading volume stood at over 3.5 million shares compared with a daily average of about 5.1 million shares.Price: $42.42, Change: $-3.14, Percent Change: -6.88%

$DOCU

Wire57d ago

Nutanix Shares Fall After Downgrade From JPMorgan

Nutanix's (NTNX) shares were down nearly 7% in Friday trading after JPMorgan downgraded the enterprise cloud software company's stock to neutral from overweight and adjusted its price target to $44 from $55.Trading volume stood at over 3.1 million shares, versus the daily average of roughly 4.9 million.Price: $34.51, Change: $-2.43, Percent Change: -6.58%

$NTNX

Wire57d ago

Rollins Seen Facing Softer Q1 Growth on Weather Impact, UBS Says

Rollins (ROL) is expected to deliver softer growth in Q1 given choppier weather conditions early in the quarter, UBS Securities said Friday in a note.The choppier first half of Q1 may impact overall growth somewhat, but retention for existing customers is expected to remain strong, with pricing also seeing very little pushback, according to the note.UBS highlighted lower digital advertising spend in early Q1 which suggests a delayed seasonal ramp that could reflect weather conditions and competitive activity.The brokerage estimates Q1 organic growth of 5.9%, down from a prior estimate of 6.7%. The firm now expects Q1 adjusted EBITDA of $188 million, down from $190 million and slightly ahead of the Street estimate of $187 million.UBS said a second consecutive weaker growth quarter from a company that has historically been a high-quality compounder could be somewhat challenging from a narrative perspective, especially as Rentokil shows signs of stabilizing growth.The brokerage expects Rollins to reaffirm the 7% to 8% organic growth guidance for 2026. It lowered its 2026 organic growth estimate to 7.1% from 7.3% and reduced its 2026 EPS estimate to $1.22 from $1.25 and its 2027 EPS estimate to $1.32 from $1.35.UBS has a neutral rating on Rollins and lowered its price target to $58 from $62.Price: $54.57, Change: $-1.23, Percent Change: -2.20%

$ROL

Research57d ago

Research Alert: CFRA Upgrades Intel To Buy From Hold; Cpus Revive, Foundry Prospects Improving

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target to $75 from $50, based on ~28x our 2028 EPS estimate ($2.64), above peer and historical P/E averages. Although valuation for INTC is outside our comfort zone, we see considerable upside to revenue and margin expectations (gross margin now has line of sight over 50% by 2027/2028 vs low 40s from the Street), as the CPU market has tightened in recent months. We believe the shift toward greater AI inferencing/AI Agents creates a new growth opportunity for CPUs, and while INTC had some execution issues last quarter, we expect improved results in 2H and 2027. Lead times for CPUs have extended considerably in recent months, which has also led to an upward bias to pricing that we expect to finally drive healthy gross margin expansion. Also, we expect INTC to capture more foundry orders in 2H as it demonstrates success for its internal products at leading-edge nodes, which will serve as an additional catalyst and bode well for long-term prospects of the company.

$INTC

Wire57d ago

Shake Shack Shares Rise After Mizuho Upgrade

Shake Shack (SHAK) shares rose 1.2% on Friday after Mizuho upgraded the stock to outperform from neutral and boosted its price target to $120 per share from $100.Trading volume stood at over 603,000 shares compared with a daily average of over 1.4 million.Price: $98.66, Change: $+1.11, Percent Change: +1.14%

$SHAK

Wire57d ago

Super Micro Computer Shares Rise After Launch of Gold Series Server Offering

Super Micro Computer (SMCI) shares rose 8.8% on Friday, a day after it launched the Gold Series enterprise server suite for artificial intelligence, storage, and edge workloads.The new pre-configured offering comprises of more than 25 types of server systems and is ready to ship from company warehouses within three business days, according to a statement.Pre-configuring facilitates cost-efficient pricing and shorter lead times compared with custom-built offerings, the company said.Price: $25.29, Change: $+2.07, Percent Change: +8.89%

$SMCI

Sectors57d ago

Update: WTI Oil Closes Lower Amid a Shaky Ceasefire Between the U.S. and Iran

West Texas Intermediate (WTI) crude oil closed lower on Friday amid doubts over the state of the ceasefire between Iran and the United States as Israel continues its attacks on Lebanon and the Strait of Hormuz remains closed.WTI crude oil for May delivery closed down US$1.30 to settle at US$96.57 per barrel, while June Brent oil was last seen down US$0.60 to US$95.32.A fragile two-week ceasefire for the United States' war on Iran reached this week looked more uncertain on Friday as Iran is said to be refusing to attend peace talks scheduled to be held this weekend in Pakistan as long as Israel continues its attacks on Lebanon. Reports on Thursday said Israeli Prime Minister plans to open talks with Lebanon but its attacks on Hezbollah militants in the country continue."Western outlets have reported that the Iranian delegation has already arrived in-country while some Iranian outlets dispute this claim, continuing to suggest that the talks are conditional on a ceasefire with Lebanon where Israel / Hezbollah continue to trade strikes," Tudor, Pickering, Holt analyst Matt Portillo wrote.Iran continues to block the passage of tankers stranded in the Persian Gulf through the Strait of Hormuz, the choke point for exports from the region that supplies 20% of daily oil demand. The closure of the Strait has pushed oil futures up 41% since the start of the conflict, but spot prices have risen even more, reaching a record high this week as buyers hunt for supply."The physical market remains relatively supported as traders resist significant revisions in differentials in the near term, largely opting for a "show me" mentality despite speculation over the future of Strait of Hormuz transits swirling in oil markets. While Dated (spot) Brent trimmed from Tuesday's all-time record of $144.42/bbl (assessed at $124.68/bbl on April 8) and Middle Eastern cash differentials waned, Atlantic Basin crudes have continued to see strength as limited prompt availability of cargoes remains," Christopher Louney, a commodities strategist at RBC Capital Markets, wrote.

$CLK6$LCOM6$USO

Sectors57d ago

May WTI Crude Oil Contract Closes Down US$1.30; Settles at US$96.57 per Barrel

$CLK6$LCOM6$USO

Oil & Energy57d ago

US Oil Update: Crude Holds Steady Ahead of Iran-US Talks

Crude oil futures were little changed in midday trading on Friday ahead of US-Iran talks in Islamabad on Saturday, which will dictate the path ahead for a fragile ceasefire as traffic through the Strait of Hormuz remains restricted.Front-month West Texas Intermediate crude futures eased by 0.35% to $98.25 per barrel, while Brent futures were up 0.55% to $96.44/bbl.On Saturday morning, the US and Iran delegations will commence the first round of in-person negotiations.US President Trump said in a Truth Social post that the only reason Iranians are alive "is to negotiate", while noting that the only leverage Tehran holds is its ability to create short-term pressure by blocking the Strait."The Iranians don't seem to realize they have no cards, other than a short-term extortion of the World by using International Waterways," Trump said in a social media post.Trump reportedly said the US is loading its warships with the "best weapons" in case the peace talks with Iran fail.However, Iran said that blocked Iranian assets must be released and that a ceasefire must take hold in Lebanon before peace talks can proceed, throwing last-minute doubt with hours to go before the talks are scheduled to start.Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Friday that two agreed-upon actions, a ceasefire in Lebanon and the release of Iran's blocked assets, must be implemented before negotiations begin.Iran Foreign Minister Seyed Abbas Araghchi also reiterated that Lebanon should be included within the scope of the Iran-US two-week ceasefire agreement, stressing the need for Washington to adhere to its "commitments".Meanwhile, ING analysts said while Trump struck an optimistic tone on resolving the six-week conflict, he threatened Tehran over charging fees in the Hormuz.The latest shipping data shows that vessel activity through the Hormuz has increased slightly since the ceasefire took effect on Apr.8, but flows remain well below normal levels. MarineTraffic said 14 vessels crossed the Strait on Apr. 8-9, including nine crossings on 9 Apr."More than 130 million barrels of crude and condensate remain stranded across about 80 laden tankers, largely VLCCs, with key exporters including Saudi Arabia, Iraq and the UAE unable to move cargoes, Kpler strategists said in a note on Friday," Kpler strategists said in a note on Friday.On the supply front, Saudi Arabia said on Thursday that Iranian attacks on its energy infrastructure reduced the country's oil production capacity and East-West Pipeline throughput by about 600,000 barrels per day and 700,000 b/d, respectively.

Wire57d ago

Update: Market Chatter: Commvault Exploring Sale After Receiving Takeover Interest

(Updates with the latest stock movement in the fourth paragraph.)Commvault Systems (CVLT) is exploring a sale after receiving takeover interest from multiple private equity firms and strategic buyers, Reuters reported Friday, citing four people familiar with the matter.The data protection software provider is working with Goldman Sachs (GS) to weigh its options, the report said, citing the sources.Commvault didn't immediately reply to a request for comment from.Shares of the company were up 8.3% in Friday trading.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $87.26, Change: $+6.65, Percent Change: +8.25%

$CVLT$GS

Wire57d ago

Market Chatter: Meta Should Face Instagram Youth Addiction Lawsuit by Massachusetts

Meta Platforms (META) should face a lawsuit by Massachusetts attorney general that alleged Instagram was designed in a way to make young users addicted to the social media platform, Reuters reported Friday, citing a court ruling.Justice Dalila Argaez Wendlandt wrote that the lawsuit by the attorney general does not seek to hold the company liable for content created by its users but targets the company's conduct, according to the report.Meta did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $625.33, Change: $-3.06, Percent Change: -0.49%

$META

Research57d ago

CIBC Maintains ATCO's Outperformer Rating and C$72 Price Target

CIBC Capital Markets on Thursday maintained its Outperformer rating and C$72 price target on the shares of ATCO (ACO-X.TO) after hosting a fireside chat with Adam Beattie, President of ATCO's Structures and Katie Patrick, Chief Financial Officer and Chief Investment Officer of ATCO Ltd., to discuss ACO's Structures & Logistics (S&L) business. The bank said it had also done a "deeper dive" on S&L, and ATCO remains "a top pick".CIBC said that, overall, the company update reinforced its "constructive view" on S&L given multiple policy/industry tailwinds that should help drive durable and more diversified growth."That said," it added, "ACO.X's commentary alone may not be sufficient to sway the marginal buyer of the stock -- limitations on disclosures could temper near-term re-rating potential despite a favourable demand backdrop and solid execution to date."CIBC said multiple tailwinds support a "positive outlook", noting that S&L benefits from multiple demand drivers, including Canada's support for large infrastructure projects (energy export buildout), rising defence spending, mineral extraction activity, and growing commercial and residential housing needs. "Modular housing could become more meaningful -- we believe ACO.X should be competitive in the Canadian military housing tender (strong history of serving defence) in the next year," the bank added.CIBC further noted that, in the U.S., there's "material runway to scale and grow" into new regions/markets as reshoring and the data centre buildout drive demand. It noted there are also strong data centre tailwinds in Australia."Data centres were flagged as increasingly attractive given improving economics and longer rental durations (typically 36-48+ months vs. 6-36 months for traditional rentals)," said CIBC. Currently holding only about 2% U.S. market share (representing 15% of S&L revenue), ATCO is well positioned to expand in this end market, the bank added.CIBC noted that ATCO emphasized that industrial (infrastructure, construction, resources) should continue to provide a "resilient, high-margin earnings base", while commercial and residential modular growth "should accelerate (off a smaller base)". CIBC said while margins in the latter will be lower near term, it said it does not expect material EBITDA margin contraction for S&L, with top line growth supporting earnings growth. "Further, we do not expect a step up in capex to support this growth (should remain in line with recent levels), and the strong growth can largely be leveraged off existing manufacturing capacity," added CIBC. "Trailing 3-year CAGRs (2022-2025) for revenue/EBITDA are 11%/26%."CIBC forecasts 3-year CAGRs for 2025-2028E for revenue/EBITDA of 8%/9%. It added that its revenue forecast could be conservative.CIBC noted ATCO reiterated its view that S&L is undervalued at current prices which is a view the bank shares. CIBC believes "enhanced disclosures (e.g. a backlog or explicit revenue/margin targets) could help", but noted ACTO seems reluctant to provide.(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: $72.28, Change: $+2.18, Percent Change: +3.11%

$ACO-X.TO

US Markets57d ago

Equity Markets Mixed Intraday Ahead of US-Iran Talks

US benchmark equity indexes were mixed intraday as traders awaited upcoming talks between Washington and Iran and parsed the latest inflation data.The Dow Jones Industrial Average was down 0.6% at 47,922.5 after midday Friday, while the S&P 500 fell 0.1% to 6,815.3. The Nasdaq Composite rose 0.2% to 22,870.8. Among sectors, consumer staples saw the biggest decline, while technology paced the gainers.West Texas Intermediate crude oil was up 0.5% at $98.32 a barrel intraday.Officials from the US and Iran are expected to meet Saturday in Pakistan, which helped broker a recent two-week truce between the two countries.The US is ready to renew and increase strikes on Iran if the parties are unable to reach a peace deal in the upcoming talks, CNN reported Friday, citing President Donald Trump. Negotiations can't start until the US agrees to a ceasefire in Lebanon and the release of blocked Iranian assets, the news outlet reported, citing Iran's parliament speaker.US Treasury yields were higher intraday, with the 10-year rate up four basis points at 4.32% and the two-year rate rising 3.9 basis points to 3.81%.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher, official data showed."The fallout of the US/Israel-Iran war was evident in the March consumer price index," Oxford Economics said in a note.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, a survey by the University of Michigan showed."Demographic groups across age, income, and political party all posted setbacks in sentiment, as did every component of the index, reflecting the widespread nature of this month's fall," Surveys of Consumers Director Joanne Hsu said. "Economic expectations will likely improve after consumers gain confidence that the supply disruptions stemming from the Iran conflict have ended and gas prices have moderated."In company news, ServiceNow (NOW) shares were down 8.6% intraday, among the worst performers on the S&P 500.The enterprise software company's competitive advantage may have eroded amid growing evidence that workflow automation tasks can be automated by harnessing artificial intelligence models, UBS Securities said in a note. The brokerage downgraded its rating on the stock to neutral from buy and lowered its price target to $100 from $170.CoreWeave (CRWV) shares jumped 11% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Other major tech names were also advancing intraday, with Nvidia (NVDA) up 2.4%, the biggest gainer on the Dow, while Super Micro Computer (SMCI) jumped 9.2%, the best performer on the S&P 500. Broadcom (AVGO), Advanced Micro Devices (AMD), and Amazon.com (AMZN) were also firmly in the green.Gold was down 0.6% at $4,790 per troy ounce, while silver rose 0.1% to $76.48 per ounce.

$^DJI$^IXIC$^SPX$AMD$AMZN$AVGO$CRWV$NOW$NVDA$SMCI

International57d ago

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending April 25

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending April 25, according to data from ship-tracking system Port Optimizer.A total of 116,926 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a 20% increase from the previous week and a 2.4% decrease from a year earlier.Twenty freight vessels are scheduled to arrive at the port in the week ending April 25, the data showed. That's down from 21 vessels this week and up from 18 in the week ending April 18.

International57d ago

Daily Roundup of Key US Economic Data for April 10

The consumer price index jumped by 0.9% in March, with energy prices up 10.9% on a record high 21.2% jump in gasoline prices, accounting for almost 75% of the overall price increase.Consumer prices were up 0.2% excluding food and energy prices, below expectations, with food prices flat.The year-over-year increase accelerated sharply to 3.3% from 2.4% in February, the highest in nearly two years, while the core measure was up 2.6% year-over-year after a 2.5% rate in the previous month.Owners' equivalent rents rose by 0.3% and regular rents were up 0.2%, both faster gains than in the previous month.In addition, prices of new vehicles rose by 0.1% after a flat reading in the previous month, used vehicle prices fell by 0.4% for a second straight month but airline fares rose by 2.7%.The preliminary Michigan Sentiment index fell to 47.6 in April from 53.3 in March, reflecting a large increase in one-year inflation expectations that pulled down both the consumers' assessment of current conditions and the near-term outlookMichigan said the decline in sentiment was seen across all income and age groups, with respondents citing the conflict in Iran.Factory new orders were flat in February with transportation orders down 5.3% and the remaining categories combining for a 1.2% gain.Durable goods orders were revised up to a 1.3% decline from the 1.4% decrease in the advance estimate, while nondurable goods new orders rose by 1.5%.Factory shipments rose by 1.4% and factory inventories increased by 0.1%. When combined with already-published advance estimates for retail and wholesale sales, business sales are on pace for a 1.7% gain in the month.The US Treasury reported a $164.1 billion budget gap in March, wider than the $160.53 billion deficit reported in March 2025, but the fiscal year-to-date gap was smaller this year than in the same period a year ago.The Q1 GDPnow estimate from the St. Louis Fed is for a 1.992% gain, up from a 1.703% increase in the previous week.

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Research57d ago

CIBC Maintains ATCO's Outperformer Rating and C$72 Price Target

$ACO-X.TO