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STMicroelectronics Shares Rise After Upgrade From Mizuho Securities

STMicroelectronics (STM) shares were up more than 6% in afternoon trading on Friday after Mizuho Securities upgraded the company's stock to outperform from neutral.Trading volume stood at over 16.1 million shares against a daily average of about 8.8 million.Price: $44.08, Change: $+2.51, Percent Change: +6.04%

$STM

US Markets62d ago

Equities Rally Intraday, Oil Plunges After Iran Declares Hormuz Strait Open

US benchmark equity indexes advanced intraday, while oil prices slumped after Iran declared the Strait of Hormuz "completely open" following a ceasefire deal between Lebanon and Israel.The Dow Jones Industrial Average was up 1.9% at 49,507.9 after midday Friday. The Nasdaq Composite jumped 1.4% to 24,447.8, while the S&P 500 rose 1.2% to 7,126.6. The two indexes notched their second consecutive record-high closes in the previous session.Barring energy and utilities, all sectors were in the green intraday Friday, led by consumer discretionary's 2.7% jump.West Texas Intermediate crude oil sank 11% to $84.20 a barrel, while Brent lost 9% to $90.44."In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iranian Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Vessels must move through a "coordinated route" announced by Iran's Ports and Maritime Organization, Araghchi said.On Thursday, US President Donald Trump said Lebanon and Israel agreed to a 10-day ceasefire that seeks to pause hostilities between Israel and Iran-backed Hezbollah in Lebanon. That was a key sticking point in peace negotiations between the US and Iran.Trump welcomed the reopening of the strait, though he said on Truth Social that the US naval blockade of Iran's ports will continue until "our transaction with Iran is 100% complete.""The news that Iran will allow traffic to resume through the Strait of Hormuz could be an important turning point and the catalyst for upgrades to our economic forecasts, but not immediately," Oxford Economics said in a note. "The development increases the risk that a more lasting deal could be brokered, reducing the likelihood of extreme downside scenarios crystalizing."A quarter-long closure of the strait will likely push US inflation higher by 0.6 percentage point this year, researchers at the Federal Reserve Bank of Dallas said in an article Friday.Shares of cruise line operators and airlines surged intraday, with Royal Caribbean Cruises (RCL) up 8.2%, the best performer on the S&P 500, followed by Carnival's (CCL) 7.8% gain. United Airlines (UAL) jumped 7.6%, while Southwest Airlines (LUV) climbed 6.5%, among the top gainers on the index.US Treasury yields were lower intraday, with the 10-year rate down 6.3 basis points at 4.25% and the two-year rate dropping 7.8 basis point to 3.69%.In company news, Netflix (NFLX) shares were down 10% intraday, the second-worst performer on the S&P 500.The streaming giant late Thursday posted first-quarter revenue above Wall Street's estimates. However, the company disappointed investors by maintaining its margin outlook even though its cost base apparently would have benefited from its decision to walk away from a deal to acquire Warner Bros. Discovery (WBD), MoffettNathanson said in a note Friday.Gold was up 1.5% at $4,881.40 per troy ounce, while silver gained 3.8% to $81.71 per ounce.

Dow JonesNasdaq CompositeS&P 500$CCL$LUV$NFLX$RCL$UAL$WBD

Wire62d ago

Update: Critical Metals Shares Rise After Greenland Approves Transfer of Tanbreez Stake

(Updates with the latest stock move in the headline and the first paragraph.)Critical Metals (CRML) shares were up 38.5% in Friday trading after the Government of Greenland has approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland, increasing the company's ownership to 92.5%.The company said the transaction consolidates its controlling interest in the Tanbreez rare earth project, with European Lithium retaining a 7.5% stake.Tanbreez, located in Southern Greenland, is endowed with all eight critical heavy rare earth elements, Critical Metals said.Price: $12.84, Change: $+3.57, Percent Change: +38.51%

$CRML

Oil & Energy62d ago

US Oil Update: Futures Tumble as Strait of Hormuz Reopens

Crude oil futures tumbled by 11% in midday trading on Friday after Iran declared the Strait of Hormuz open during the ceasefire between Israel and Lebanon, raising hopes of easing supply disruptions from the Middle East.Front-month West Texas Intermediate crude futures plunged by 11.36% to $83.91 per barrel, while Brent futures plunged by 9.55% to $89.85/bbl.Iran's Foreign Minister Abbas Araghchi said on Friday that the Hormuz "is declared completely open," even as a US naval blockade continues to constrain flows through the strategic waterway."In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire," Araghchi said in the surprise announcement on X.Israel and Lebanon also agreed to a 10-day ceasefire on Thursday, a move that is expected to ease regional tensions.The opening of Hormuz was made possible by a ceasefire between Israel and Lebanon, strategists from Macquarie said, noting that despite the announcements, this can only be described as a temporary and tenuous agreement.However, Araghchi said that vessels must transit through a "coordinated route" announced by Iran's maritime authorities. An Iranian Supreme National Security Council official also said that vessels transiting the Strait will require permission from the Islamic Revolution Guards Corps, according to media reports.On Friday, President Trump also said in a social media post that Iran had agreed never to close the Hormuz again, but separately, he reiterated that a US naval blockade of Iran's ports will remain in "full force" until the US reaches a deal with Iran.Iranian authorities reportedly said vessels are not allowed to pass if they or their cargoes are linked to hostile nations. The Strait will also be closed if the US naval blockade continues.The reopening of the Hormuz stoked optimism that there may be an end in sight to the Middle East conflict, which led to the worst global energy supply disruption in recent history.Elsewhere, Trump said Iran agreed to suspend its nuclear program indefinitely and will not receive any frozen funds from the US.Macquarie said while news feeds seem to suggest a "quid-pro-quo" of unfreezing $20 billion in exchange for enriched uranium, it is doubtful that Iran will forego its main levers, including closure of Hormuz.

Treasury62d ago

National Bank On What It Will Be Watching For Next Week

National Bank noted the highlight of the week ahead will be the release of Consumer Price Index data for March on Monday. It said the surge in gasoline prices, a result of the conflict in the Middle East, will likely feed a 1.2% month-on-month rise in the headline index on a non-seasonally adjusted basis. This could cause the 12-month rate to rise from 1.8% to 2.6%, the highest level since February 2025. Core inflation could remain "more stable", with both CPI-median and CPI-trim likely holding steady at 2.3% on a 12-month basis, National Bank added.Another key event will be the release of the retail sales report for February, next Friday. Based on previously released car sales data, spending on motor vehicles and parts is expected to have contributed positively to the headline figure, as is spending at gasoline stations, which could have benefited from higher pump prices, National Bank said. All told, goods outlays could have increased by 0.9% in the second month of the year. Excluding automobiles, sales could also have increased, albeit at a slightly slower pace (+0.7%), it added.National Bank will also keep an eye on the release of the March Industrial Product Price Index (IPPI) on Thursday and the Bank of Canada's first-quarter Business Outlook Survey (BOS) on Monday.

S&P/TSX CompositeS&P/TSX Composite$CXY

Wire62d ago

Update: Badger Meter Shares Drop After Q1 Earnings, Revenue Miss Consensus

(Updates with recent stock movement in the headline and the first paragraph.)Badger Meter (BMI) shares plunged more than 23% in afternoon trading on Friday after the company's Q1 earnings and revenue fell short of analysts' consensus.The company reported Q1 earnings Friday of $0.93 per diluted share, down from $1.30 a year earlier.Analysts surveyed by FactSet expected $1.22.Revenue for the quarter ended March 31 was $202.3 million, down from $222.2 million a year earlier.Analysts polled by FactSet expected $229.6 million.The company said it has agreed to acquire UK-based UDlive for $100 million plus contingent payments, boosting its sewer monitoring business. The acquisition, expected to close by the end of April 2026, will be funded with cash on hand.Price: $116.69, Change: $-35.60, Percent Change: -23.38%

$BMI

Research62d ago

Research Alert: CFRA Keeps Hold Recommendation On Shares Of Truist Financial Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target price at $56, based on 10.8x our 2027 EPS estimate, a premium to TFC's five-year forward P/E average of 10.5x given an improving regulatory environment, an uptick in capital return, and improving efficiency. We raise our 2026 EPS view by $0.02 to $4.59 and keep 2027's at $5.18. We maintain a Hold rating on the stock, as the bank tends to take three steps forward then two steps back. This quarter, we were encouraged by strong fee income performance, with Investment Banking and Trading delivering their highest quarterly revenue since 2021. This is a trend we expect to continue as geopolitical conflicts appear to be subsiding. However, net interest income disappointed in Q1 and balance sheet growth remains inconsistent. On a positive note, TFC has become more optimistic and established a new long-term return on tangible common equity (ROTCE) target of 16%-18%. While this is encouraging, TFC has considerable work ahead as its ROTCE has not exceeded 14% for eight consecutive quarters.

$TFC

Oil & Energy62d ago

US Natural Gas Update: Prices Rise on Lower Output, Cooler Weather

US natural gas futures climbed in midday trading Friday, supported by declining production, shifting weather patterns, and steadier export demand, even as ample storage continued to weigh on the market.The front-month Henry Hub contract and the continuous benchmark each rose 0.26% to $2.65 per million British thermal units after briefly dipping earlier in the session.Supply-side fundamentals provided support, with average US gas output falling about 3.2 billion cubic feet per day over the past four days to a preliminary 10-week low of 108 Bcf/d, according to Trading Economics. The decline was led by reduced production in Louisiana and Ohio.Export flows also remained firm. Deliveries to major US LNG export terminals averaged 18.9 Bcf/d so far in April, up from 18.6 Bcf/d in March, helping offset weaker domestic consumption trends.On the demand side, industrial usage has fallen 3.9 Bcf/d from a month ago, according to NRG Energy, contributing to overall softness in consumption. Gas-fired power generation has also eased slightly compared with last week, though Rystad Energy noted the decline remains seasonal and typical for shoulder-period demand conditions.Weather forecasts were mixed but broadly supportive of late-week pricing. NatGasWeather.com expects cooler-than-normal conditions across the Northwest and Midwest through Saturday, with highs in the 40s to 50s degrees Fahrenheit and lows in the 20s to 30s.A broader cooldown is forecast to extend into the Ohio Valley and Northeast from Sunday through Tuesday, potentially lifting heating demand.Price action briefly turned volatile earlier in the day after geopolitical headlines surrounding the Strait of Hormuz.Statements from US President Donald Trump and Iranian Foreign Minister Abbas Araghchi indicated the waterway will open under ceasefire conditions, easing concerns about energy transit disruptions and triggering a sharp drop in global crude and European gas prices.US natural gas futures briefly fell to $2.623/MMBtu in tandem before recovering, reflecting the market's relatively limited direct exposure to international supply routes.However, rising inventories continued to cap gains. The Energy Information Administration reported a storage build of 59 Bcf for the week ended April 10, above expectations and well above both last year's increase and the five-year average.The larger-than-expected injection reflected mild weather that suppressed heating demand, with forecasts largely indicating continued above-normal temperatures into early May.

Wire62d ago

Market Chatter: Anthropic CEO to Discuss Mythos Access With White House Official

Amazon-backed (AMZN) Anthropic Chief Executive Dario Amodei is set to meet on Friday with White House Chief of Staff Susie Wiles for talks that could set the stage for federal agencies to eventually start using Mythos, the company's new artificial intelligence model, Bloomberg reported Friday, citing people familiar with the matter.Anthropic and the White House didn't immediately reply to requests for comment from.(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: $253.89, Change: $+4.19, Percent Change: +1.68%

$AMZN

Treasury62d ago

CIBC On the Week Ahead In Canada Economics

According to Avery Shenfeld, nobody will be surprised to see headline CPI "take a big jump" in March on increases in gasoline. But, he said, it will be too soon to pick up any real news on the spillover from that for core inflation given that plane tickets that month were bought in advance, and non-food goods on the shelf had been shipped before diesel prices escalated. CIBC sees CPI up 1% in the month and 2.5% over the year, compared to a consensus of 1.1% and 2.6% respectively. The bank forecasts both CPI Core-Median and Trim will be up 2.3% year over year, compared to a consensus 2.4% and 2.3% respectively.Shenfeld said retail sales next Friday should show a "hefty" gain in February. He added while March could suffer from volume weakness outside gas stations, the Q1 picture for consumption looks to have been "quite good". While lower-income GST rebates and fuel excise tax cuts will cushion the blow, Q2 will take a hit from energy costs squeezing consumers, Shenfeld said. We'll need stronger employment numbers to get the retail sector on sustained growth path, he added. CIBC forecasts growth of 0.8% in both retail trade total and ex-auto for the month, versus a consensus of 0.9% and 0.8% respectively.CIBC also awaits the release Monday of both the Q1 Business Outlook Survey and the Canadian Survey of Consumer Expectation. Tuesday will see the auction of $16.4 billion in 3-M Bills, $5.8 billion in 6-M Bills and $5.8 billion in 1-YR Bills, followed Wednesday by the auction of $5 billion in 10-YR Canadas.Thursday will see the release of March Industrial Product Prices and Raw Materials data.

S&P/TSX CompositeS&P/TSX Composite$CXY

Research62d ago

Research Alert: CFRA Keeps Hold Recommendation On Shares Of Fifth Third Bancorp

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After reviewing Q1 earnings, we reduce our 12-month target price by $1 to $56, 11.2x our 2027 EPS estimate, a wider risk premium than FITB's five-year forward P/E average of 10.3x given healthy fee income expectations and an improving regulatory environment. We lower our 2026 EPS estimate by $0.07 to $4.09 but increase 2027's by $0.10 to $5.02. This was a transformative quarter for FITB, which completed its largest acquisition in history, vaulting from the 19th to the 13th largest U.S. bank by assets. While we continue to believe the acquisition will create headwinds to organic growth, it delivered immediate benefits: credit quality improved markedly, and net interest margin expanded to 3.30%, the highest level since 2022. The trade-off came in capital, with the CET1 ratio declining 80 bps Q/Q to 10.0%, among the lowest in the peer group. However, given the likely relief from newly-proposed Basel III capital rules, we view this more modest capital position as acceptable.

$FITB

Wire62d ago

Market Chatter: Sony, Honda JV to Explore Other Opportunities to Make Venture Work After Shelving EV Plans

Sony (SONY) and Honda Motor's (HMC) 50-50 joint venture has decided to explore other opportunities to make the venture work after canceling plans for their proposed co-developed electric vehicle, Nikkei Asia reported Friday.The two companies are discussing non-EV products and services as alternatives and expect other uses for their EV technologies, the report said.Sony-Honda Mobility may still introduce a passenger car to market, but this would be a challenge amid advances in autonomous driving and technologies by carmakers in US and China, according to the media outlet.Sony and Honda 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: $21.78, Change: $+0.31, Percent Change: +1.47%

$HMC$SONY

Sectors62d ago

Update: Gold Rises As the USD and Yields Drop, Oil Prices Plunge, as Iran Reopens the Strait of Hormuz

(Updates prices.)Gold was higher midafternoon Friday following as Iran reopened to Strait of Hormuz to commercial traffic, ending the largest ever energy supply shock and easing inflation fears.Gold for May delivery was last seen up US$75.30 to US$4,883.60 per ounce.CNBC reported Iran has reopened the Strait of Hormuz to commercial traffic, freeing tankers that have been trapped in the Persian Gulf since the United States and Israel launched their war on the country on Feb. 28 and allowing the resumption of exports from the Persian Gulf region that supplies 20% of daily oil demand.Oil prices are plunging following the declaration, with West Texas Intermediate crude oil last seen down 11% to US$84.38 per barrel, easing worries a sustained period of high energy prices will boost inflation and force central banks to raise interest rates.The dollar was lower on following Iran's decision, with the ICE dollar index last seen down 0.19 points to 98.02. Treasury yields were also lower, with yield on the U.S. two-year note last seen down 7.4 basis points to 3.712%, while the 10-year note was paying 4.249%, down 7.1 points.

$GCK6$UNG

Wire62d ago

Anthropic CEO to Discuss Mythos Access With White House Official, Bloomberg Reports

$AMZN

International62d ago

Cargo Traffic to Los Angeles Port Expected to Fall in Week Ending May 2

Cargo traffic at the Port of Los Angeles is expected to fall in the week ending May 2, according to data from ship-tracking system Port Optimizer.A total of 110,991 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 6.4% decrease from the previous week and a 28% increase from a year earlier.Nineteen freight vessels are scheduled to arrive at the port in the week ending May 2, the data showed. That's equal to the vessels this week and down from 22 in the week ending April 25.

Sectors62d ago

Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.6%.The Philadelphia Semiconductor index added 2%.In corporate news, Apple (AAPL) recorded a 20% year-over-year increase in smartphone shipments in China during Q1 to become the second-largest seller in the country, Counterpoint Research said Friday. Apple shares climbed 2.7%.Amazon.com (AMZN)-backed Anthropic is in talks with the European Commission on its different models, including its cybersecurity models that are not available in the EU, Reuters reported Friday. Amazon shares added 1.7%.Bandwidth (BAND) shares jumped past 9% after B. Riley raised its price target to $27 from $20 while keeping its buy rating.

$AAPL$AMZN$BAND

Sectors62d ago

Sector Update: Health Care Stocks Higher Friday Afternoon

Health care stocks climbed Friday afternoon, with the NYSE Health Care Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) advanced 1.4%.In corporate news, Merck (MRK) shares rose 2.3% after it said Friday that the European Commission has approved Enflonsia to prevent respiratory tract disease in newborns and infants.Kura Oncology (KURA) shares jumped nearly 7% after it said Friday that new preliminary data from a subset analysis of patients with clear cell renal cell carcinoma previously treated with cabozantinib showed "robust" antitumor activity in an ongoing clinical trial of darlifarnib in combination with cabozantinib.Psyence Biomedical (PBM) shares surged 66% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

$KURA$MRK$PBM

Sectors62d ago

Sector Update: Consumer Stocks Advance in Afternoon Trading

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) climbing 3.3%.In corporate news, Autoliv's (ALV) Q1 results exceeded Wall Street's estimates, while the Swedish automotive safety supplier affirmed its full-year outlook on Friday amid an uncertain business environment. Its shares jumped past 8%.Netflix (NFLX) shares dropped more than 10% after it released Q2 guidance late Thursday below market consensus. The streaming company also said that its Chairman and Co-founder Reed Hastings plans to step down when his term ends in June.Patrick Industries (PATK) is in talks to combine with rival LCI Industries (LCII), Bloomberg reported. Patrick shares climbed 5.3%, and LCI rose 2.5%.

$ALV$LCII$NFLX$PATK

Wire62d ago

Market Chatter: Alcoa Nears Sale of New York Smelter Site to Bitcoin Miner NYDIG

Alcoa (AA) is in advanced discussions to sell its former Massena East smelter site in upstate New York to Bitcoin mining firm NYDIG as part of its plan to dispose of unused assets, Bloomberg reported Friday, citing an interview with chief executive officer Bill Oplinger.The deal is expected to close around mid-year, Oplinger said, according to the report. The site was closed in 2014 by Alcoa as the business ceased to be competitive and it has access to hydropower from the New York Power Authority, the report added.Alcoa and NYDIG didn't immediately reply to' request for comments.(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: $65.38, Change: $-5.03, Percent Change: -7.14%

$AA

Sectors62d ago

Sector Update: Financial Stocks Rise Friday Afternoon

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index gaining 1.9% and the State Street Financial Select Sector SPDR ETF (XLF) climbing 1.8%.The Philadelphia Housing Index jumped 5.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.6%.Bitcoin (BTC-USD) popped 3.7% to $77,919, and the yield for 10-year US Treasuries dropped 7.7 basis points to 4.23%.In sector news, JPMorgan Chase (JPM) and Barclays (BCS) are among the Wall Street banks that recently started trading credit default swaps against flagship private credit funds run by Blackstone (BX), Apollo Global Management (APO) and Ares Management (ARES), the Financial Times reported.In corporate news, Fifth Third Bancorp (FITB) shares gained 2.2% after it reported a surprise Q1 profit on Friday.Truist Financial (TFC) reported Q1 earnings of $1.09 per diluted share, up from $0.87 a year earlier. Analysts polled by FactSet expected $1. Truist shares rose 3%.Deutsche Bank (DB) has notified Germany's central bank, Bundesbank, that it may have violated sanctions that limit deposits of Russian individuals to less than 100,000 euros ($118,000), multiple media outlets reported Friday. Deutsche shares were up 3.3%.

$APO$ARES$BCS$BX$DB$FITB$JPM$TFC

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US Markets62d ago

Equities Rally Intraday, Oil Plunges After Iran Declares Hormuz Strait Open

Dow JonesNasdaq CompositeS&P 500$CCL$LUV$NFLX$RCL$UAL$WBD