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Baker Hughes Q2 Orders Climb YOY

Energy technology company Baker Hughes Monday said its total orders stood at $10.50 billion in Q2, a 49% jump from $7.03 billion a year earlier, as orders under the industrial and energy technology segment doubled.In the quarter ended June 30, IET orders surged year over year to $7.09 billion from $3.53 billion, led by the gas technology product line. Segment revenue steadied at $3.29 billion, data showed.Baker Hughes said the IET segment received several awards from companies, including Venture Global (VG), Cheniere Energy (LNG), Bechtel, Golar LNG (GLNG), Nigeria LNG, Dynamis Power Solutions, Kodiak Gas Services (KGS), and Saipem Nasser Saeed Al-Hajri Contracting.Meanwhile, the company's oilfield services and equipment business received lower orders in Q2, totaling $3.41 billion. This represents a 3% decline from the previous year's $3.50 billion.Segment revenue stood at $3.45 billion, 5% lower than a year earlier, according to the report.Baker Hughes said it divested Waygate Technologies to Hexagon and completed the acquisition of Chart Industries (GTLS) in July.It also entered into a commercial agreement with Mantle Reach Power to develop up to 500 megawatts of power over the next five years, advancing large-scale geothermal development in North America.

$BKR$GLNG$GTLS$KGS$LNG$VG

Mining & Metals5d ago

Ovintiv Price Target Raised to $85 at RBC

RBC Capital Markets raised its price target on Ovintiv (OVV.TO, OVV) to $85 from $70.Analyst Greg Pardy maintained an Outperform rating on the dual-listed natural gas company following its Q2 results."In our eyes, Ovintiv's streamlined portfolio, resource depth and enhanced shareholder returns point toward relative multiple expansion and continued share price appreciation," Pardy said in a note to clients."Ongoing solid performance, like what we saw in the second-quarter, along with potential S&P/TSX index inclusion, could accelerate this dynamic," the analyst said.(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://finwires.com/en/contact)

$OVV$OVV.TO

US Markets5d ago

Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck

The benchmark US stock measures were pointing higher before the opening bell Monday after the US and Iran halted strikes over the weekend, while traders gear up for a busy week that includes a major policy decision by the Federal Reserve, a key inflation report and earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.8% each in premarket activity, while the Nasdaq increased 1.4%. The S&P 500 and the Dow finished Friday's trading session in the green, while the Nasdaq closed lower.After 13 consecutive nights of strikes against Iran, no US attacks against Tehran were officially announced over the weekend. Iran said it will also halt its attacks as long as the US does the same, a senior Iranian official told Reuters on Sunday.West Texas Intermediate crude oil dropped 6.4% to $83.56 a barrel before the open, while Brent fell 8% to $89.06.The US ambassador to the United Nations Mike Waltz reportedly told Fox News on Sunday that President Donald Trump has paused strikes against Iran to give talks "some space."Iranian Foreign Ministry spokesman Esmail Baghaei said technical talks with Oman on the Strait of Hormuz continued over the weekend, CNBC reported.Meanwhile, Iran summoned Ukraine's charge d'affaires in Tehran on Sunday over an attack on an Iranian commercial vessel in the Caspian Sea, calling it a "hostile and criminal act," according to a separate CNBC report.The Fed's monetary policy committee is scheduled to meet on Tuesday, with a decision on interest rates due the following day. The probability the central bank will leave its benchmark lending rate unchanged currently stands at 69%, with the remaining odds in favor of a quarter-percentage-point increase, according to the CME FedWatch tool.Traders also await the personal income and outlays report for June later in the week. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric.Treasury yields were down in premarket action, with the two-year rate retreating 2.6 basis points to 4.31% and the 10-year rate off 3.8 basis points to 5.12%.Monday's economic calendar has the durable goods orders report for last month at 8:30 am ET, followed by the Dallas Fed manufacturing survey for July at 10:30 am.Tech giants Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta Platforms (META) are scheduled to release their latest financial results later this week, along with Visa (V), Mastercard (MA), ExxonMobil (XOM), Coca Cola (KO), Procter & Gamble (PG), Qualcomm (QCOM) and Boeing (BA).Shares of Forte Biosciences (FBRX) jumped 39% pre-bell after it agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth roughly $2.2 billion. AstraZeneca's (AZN) US-listed stock gained 1.4% after the company reported its latest quarterly results.Gold inclined 0.7% to $4,098 per troy ounce, while bitcoin advanced 1.1% to $65,350.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARGX$AZN$BA$FBRX$KO$MA$META$MSFT$PG$QCOM$V$XOM

Asia5d ago

Update: Market Chatter: HSBC in Advanced Talks to Sell Australia Loan Portfolio to Blackstone

(Updates last paragraph to add that HSBC declined to comment.)HSBC Holdings (HKG:0005) is in advanced talks to sell its Australia loan portfolio to Blackstone as part of Chief Executive Georges Elhedery's efforts to streamline operations, Bloomberg News reported Monday, citing people familiar with the matter.Blackstone emerged as the leading bidder after outbidding rival firms, the report said, adding that discussions are ongoing and no final agreement has been reached.HSBC declined to comment, while Blackstone 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.)

HKG:0005

Asia5d ago

Taiwan's TCC Group Advances Preparations for Fundraising Plans in Europe

TCC Group (TPE:1101) met with investment banks and advisers on Monday to advance its European fundraising efforts, according to a same-day filing in Taiwan.The green environmental engineering company said the launch meeting discussed strategies, timelines and related preparations for its TCC Dutch Holdings unit. It first flagged plans to raise funds in May, with options including an IPO and a private placement.The TCC board is expected to receive updates for review in August.

TPE:1101

Research5d ago

Vital Infrastructure Property Trust Initiated with Hold Rating, C$6 Price Target at TD

TD Securities initiated coverage of Vital Infrastructure Property Trust (VITL-U.TO) with a Hold rating and C$6 price target.Analyst Jonathan Kelcher said Vital is a "compelling healthcare infrastructure REIT in transition.""As capital is redeployed into North America, Vital is positioned to benefit from growing healthcare demand," Kelcher said in a note to clients. "However, with the units trading above the historical average discount vs peers and execution risk and potential earnings volatility on capital recycling, we view the current valuation as fair."(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://finwires.com/en/contact)

$VITL-U.TO

Research5d ago

JPMorgan Initiates Coverage on Cadre With Overweight Rating, $40 Price Target

Cadre (CDRE) has an average rating of Buy and mean price target of $45.67, 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://finwires.com/en/contact)

$CDRE

Research5d ago

JPMorgan Initiates Coverage on BWX Technologies With Overweight Rating, $230 Price Target

BWX Technologies (BWXT) has an average rating of overweight and mean price target of $239.79, 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://finwires.com/en/contact)

$BWXT

Research5d ago

JPMorgan Initiates Neutron at Overweight With $35 Price Target

Neutron (LIME) has an average rating of buy and mean price target of $38.50, 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://finwires.com/en/contact)

$LIME

Mining & Metals5d ago

Goldgroup Mining Appoints Board Chair Javier Reyes as Interim CEO

Goldgroup Mining's (GORO.V) chair of the board of directors, Javier Reyes, has been appointed interim chief executive officer, effective immediately, as Allen Palmiere transitions from his role as president and CEO, the company said Monday.The company expects Palmiere to remain in an advisory capacity. The board has started the search for a permanent CEO, Goldgroup said.

$GORO.V

Japan5d ago

US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.9%, and Nasdaq futures were 1.4% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 6.5% at $85.74 per barrel and US West Texas Intermediate crude 6.8% lower at $83.23 per barrel.The June durable goods orders report is expected to show a 1.8% increase after a decline of 4.5% in the prior month, according to estimates compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARM$AZN$LRCX$MA$META$MSFT$PG$QCOM$STX$V

Asia5d ago

Update: Mitsui Fudosan Establishes Physical AI Semiconductor Development Center in Kumamoto, Japan

(Updates throughout for more details from the company's statement)Mitsui Fudosan (TYO:8801) established a development center in Kumamoto, Japan, for physical AI research on semiconductor technologies, the Japanese real estate developer said Monday.Kumamoto Science Park Community & Management, which is a partnership with the Kumamoto Prefecture, will support joint research and demonstration projects for manufacturing equipment, materials and parts, according to a statement shared by Mitsui Fudosan toin response to a request for comment on a Nikkei Asia report.In addition, Mitsui Fudosan said Kumamoto Science Park and two Taiwanese and five Japanese organizations signed collaboration agreements for the semiconductor industry.

TYO:8801

Research5d ago

Goldman Sachs Initiates Neutron at Buy With $39 Price Target

$LIME

Research5d ago

JPMorgan Initiates Coverage on Rhythm Pharmaceuticals With Overweight Rating, $145 Price Target

Rhythm Pharmaceuticals (RYTM) has an average rating of Buy and mean price target of $138.80, 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://finwires.com/en/contact)

$RYTM

Research5d ago

Jefferies Initiates Neutron at Buy With $40 Price Target

$LIME

Mining & Metals5d ago

Fury Resumes Exploration at Eau Claire Project in Quebec After Wildfire

Fury Gold Mines (FURY.TO) has resumed exploration and drilling at the Eau Claire gold project in Quebec following a nearby wildfire, the exploration company said Monday.The company said all personnel have returned to site after confirming that conditions are now safe.Fury said the disruption did not significantly impact its drill program at Eau Claire.

$FURY.TO

Research5d ago

KeyBanc Initiates Coverage on ITG With Overweight Rating, $17 Price Target

ITG (ITG) has an average rating of Buy and mean price target of $17.33, 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://finwires.com/en/contact)

$ITG

Research5d ago

Needham Initiates Neutron Holdings at Buy With $36 Price Target

Neutron Holdings, Inc. (LIME) has an average rating of buy and mean price target of $38.50, 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://finwires.com/en/contact)

$LIME

Research5d ago

Stifel Nicolaus Initiates Coverage on ITG With Buy Rating, $16 Price Target

ITG, Inc. (ITG) has an average rating of Buy and mean price target of $17.33, 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://finwires.com/en/contact)

$ITG

International5d ago

US Dollar Mixed Early Monday, Focus on FOMC, Q2 GDP This Week

The US dollar was mixed against its major trading partners early Monday -- up versus pound and Canadian dollar, down versus the euro and yen -- ahead of a busy week of events, highlighted by the Federal Open Market Committee meeting announcement on Wednesday and the first look at Q2 GDP on Thursday.The CME Fed Watch Tool currently shows a 64.2% chance of no change to the 3.50% to 3.75% target range for the federal funds rate being priced in and a 35.8% chance of a 25-basis point rate increase.Monday's schedule includes durable goods orders data for June at 8:30 am ET, the Dallas Federal Reserve's manufacturing index for July at 10:30 am ET, and an update to the Atlanta Fed's GDP nowcast estimate around midday.Tuesday's busy schedule will be highlighted by advance trade data for June, home price data for May and consumer confidence data for July.Weekly mortgage applications and oil stocks will be released Wednesday before the FOMC's rate announcement.In addition to the GDP data, weekly jobless claims and natural gas stocks and personal income, spending and price data for June are due to be released on Thursday.Employment cost data for Q2, the Chicago PMI for July and the final University of Michigan consumer sentiment data for July are scheduled to be released on Friday.A quick summary of foreign exchange activity heading into Monday:EUR/USD rose to 1.1393 from 1.1371 at the Friday US close but was below a level of 1.1406 at the same time Friday morning. Eurozone money supply rose at a faster pace in June than in the previous month. The next European Central Bank meeting is scheduled for September 10.GBP/USD fell to 1.3313 from 1.3322 at the Friday US close and 1.3327 at the same time Friday morning. UK retail conditions improved in July but remained negative, according to data released earlier Monday. The next Bank of England meeting is scheduled for Thursday, when no change in the policy rate is expected.USD/JPY fell to 163.6244 from 163.8488 at the Friday US close but was above a level of 163.4220 at the same time Friday morning. The Japanese leading index increased in May, according to data released overnight. The next Bank of Japan meeting is scheduled for Thursday, when no change in the policy rate is expected.USD/CAD rose to 1.4104 from 1.4101 at the Friday US close and 1.4085 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Sept. 2.

$EUR/USD$GBP/USD$USD/CAD$USD/JPY

Showing 3861-3880 of 65262

US Markets5d ago

Stocks Rise Pre-Bell as US, Iran Pause Strikes; Fed Policy Decision, Inflation Report on Deck

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARGX$AZN$BA$FBRX$KO$MA$META$MSFT$PG$QCOM$V$XOM