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Sector Update: Financial

Financial stocks were mostly higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.3%.The Direxion Daily Financial Bull 3X Shares (FAS) gained by 1%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.Ally Financial (ALLY) shares rose over 3% premarket after the company reported higher Q1 adjusted earnings and revenue.

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Pacific Empire Minerals Launches C$4.5 Million Private Placement

Pacific Empire Minerals (PEMC.V) said Friday that it is raising C$4.5 million in a private placement to advance its Trident and Pinnacle copper-gold-silver porphyry projects in British Columbia.The company added it will also use the proceeds for general working capital.The offering involves up to 46,153,846 flow-through shares priced at $0.065 apiece for $3 million in proceeds, and up to 25 million shares at $0.06 apiece for $1.5 million in proceeds.The company said it has secured significant lead orders totaling $2.7 million from resource-focused institutional investors and high net worth investors.

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Sector Update: Health Care

Health care stocks were higher before Friday's opening bell, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining by 0.5% and the iShares Biotechnology ETF (IBB) advancing 0.2%.Trevi Therapeutics (TRVI) shares were down more than 7% before market open. The company said late Thursday it priced its public offering of 11.6 million common shares at $13 each for about $150 million in gross proceeds.

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Equities62d ago

BofA Upgrades Deutsche Börse on Strong Growth Position; Price Target, EPS Estimates Raised

BofA Global Research on Friday upgraded Deutsche Börse (DB1.F) to buy from neutral and raised its price targets and EPS estimates, saying the German stock exchange operator is "best positioned" among European peers for higher volumes and net interest income.As such, the price objective was raised to 300 euros from 250 euros. The EPS estimates were also raised to 12.09 euros from 11.33 euros for 2026, 13.42 euros from 12.42 euros for 2027 and 14.75 euros from 13.82 euros for 2028.The company is expected to post strong revenue growth in its power exchange business in 2026 as geopolitical tensions in the Middle East drive a surge in commodities volumes, BofA said in a note.The research firm also sees upside potential in Deutsche Börse's net interest income amid expectations of higher central bank rates, while the company's planned acquisition of Amsterdam-listed fund trading platform Allfunds Group (ALLFG.AS, 0AAL.L) could provide a further boost to EPS.

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Sector Update: Consumer

Consumer stocks were higher premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.03% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.4%.Autoliv (ALV) stock rose more than 10% pre-bell after the company reported higher-than-expected Q1 adjusted earnings and revenue.

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Sector Update: Tech

Technology stocks were higher pre-bell Friday, with the State Street Technology Select Sector SPDR ETF (XLK) gaining 1% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% higher.Microsoft (MSFT) shares were up more than 1% in premarket activity. Microsoft Italy and Expert.ai said they have entered into a collaboration to accelerate the adoption of artificial intelligence for enterprise use cases.

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Equities62d ago

Oil Prices Drop as Middle East Tensions Ease

Oil prices fell early Friday on calming tensions in the Middle East as a 10-day ceasefire between Israel and Lebanon held for its first day, while there are hopes for further talks between the United States and Iran.West Texas Intermediate crude oil for May delivery was last seen down $3.89 to US$90.80 per barrel, while June Brent oil was down $3.45 to US$95.94.Ceasefires are holding on at least two fronts in the Middle East, as Israel and Lebanon on Thursday agreed to a ceasefire in relation to Israel's war on Hezbollah militants in the country. There are also hopes for further talks between the U.S. and Iran to end their conflict that has closed the Strait of Hormuz, a chokepoint for 20% of daily global oil and LNG demand supplied by Persian Gulf nations.An Israeli stand down on attacks in Lebanon was a key part of Iran's demands in talks with the U.S. and may ease the path for further talks between the two countries. U.S. President Trump on Thursday said he expects talks moderated by Pakistan to soon resume.The Wall Street Journal on Friday reported comments from Iranian Deputy Foreign Minister Saeed Khatibzadeh that Iran is expecting talks to result in a permanent settlement to the war rather than another temporary ceasefire, citing Turkey's state news agency, while saying Iran is looking to regulate transits through the vital Strait.While a truce between the U.S. and Iran could allow shipping through the Strait to resume, Gulf supply is likely to ramp up slowly as producers in the region restart production from shut-in oilfields, while Iran's attacks on its neighbors' oil and gas infrastructure could take years to repair."Oil has eased...as hopes for renewed U.S.-Iran talks and the Israel-Lebanon ceasefire have reduced some of the immediate panic premium. That said, the broader supply story has not gone away, with disruptions to Middle East production still feeding into the physical market, suggesting prices may remain elevated even if diplomacy progresses," Saxo Bank wrote.

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Commodities62d ago

Prolonged Middle East Conflict Will Boost Electric Cars, Renewables, Analysts Say

A protracted Middle East conflict will strengthen the case for transport electrification and renewable energy adoption, but the transition will still take years to unfold as countries prioritize economic resilience over investment, according to analysts.A six-month conflict scenario will be detrimental to the global economy, as the fossil fuel supply shock causes surging energy prices and inflation.This would prompt governments to implement immediate measures toward easing financial strain, some of which has already taken place, rather than investing in clean energy, despite the urgency and necessity."Governments caught between soaring import bills and retreating international capital may find that the energy transition, however necessary, simply cannot compete with the immediate pressure of economic survival," said Amy Zheng of Abundant Climate Action Institute.The war has exposed the vulnerability of many countries to oil and gas dependency, making the energy transition more urgent and indispensable, but less affordable at the same time, according to Zheng.Many countries now grappling with restoring energy security have reinforced policies supporting renewable energies, although an immediate increase in installed capacity is unlikely."That dynamic is consistent with how energy shocks tend to work: prices and security concerns move first, while structural investment responses follow with a lag," assurance and risk management provider DNV said.The firm noted that the war, which started in late February, has not yet resulted in a notable shift to transport electrification or faster renewables deployment, and might not result in a "real" demand destruction even if tensions extend to six months."But the impact, and a further push in this direction, is already happening," DNV highlighted.Energy think tank Ember projects that Asian countries mainly exposed to a petrol price surge, such as the Philippines, Singapore, Vietnam, and Australia, will see electric vehicle uptake become "more aggressive than ever."Meanwhile, Vietnam, Thailand, and Indonesia, where passenger vehicles are a daily necessity due to inadequate public transport infrastructure, will likely lead in EV adoption.China's EV export market is expected to remain strong, along with rapid EV uptake domestically, with production capacity underpinned by the country's robust battery supply chain.DNV noted that, in the last three weeks, stocks in Chinese battery manufacturers have risen more than those of international oil and gas firms, suggesting market participants were betting on EVs and utility storage amid rising oil prices.In India, "the more immediate response to a fuel price spike is likely trip reduction or deferred purchases rather than switching to EVs outright," said Saurabh Trivedi of the Institute for Energy Economics and Financial Analysis.While an EV transition for three-wheeler segment will likely continue, India's passenger car segment will face financing challenges due to the high upfront cost of EVs, which could be reduced by targeted policy support, Trivedi said.In Europe, EV adoption may also rise given that the region is an energy importer and exposed to global price shocks, but positive demand upside due to the war may not extend into the longer term, according to DNV and Tradition Energy.The picture could be different in the US, where higher pump prices look less likely to result in a consumer behavior shift."EVs could see a bump in sales if prices at the pump remain significantly elevated, but we are not yet seeing enough momentum to create new demand as US consumers simply grimace through the increases in cost rather than make a rapid shift," Tradition Energy analyst Gary Cunningham said.Similarly, renewables expansion in the US is unlikely given that the region is not heavily impacted by the war, Cunningham noted. The current US government has also focused on extending the life of coal plants and opposed some wind projects at a late stage of construction.Countries without considerable oil and gas reserves are the ones expected to drive any energy shift, although limited investment firepower will prove a challenge despite availability of some cheaper alternatives like solar energy.Physical infrastructure will take years to build, although the present conflict could accelerate the timetable for renewables, batteries and nuclear, as governments focus on supply security and energy independence.

PharmaCielo Intends to Issue 11.1-Million Interest Shares

PharmaCielo (PCLO.V) on Friday said it intends to issue more than 11.1-million of its common shares at $0.08 apiece, in satisfaction of an aggregate of $891,681.85 in accrued semi-annual interest payments due to holders of the company's 11% secured debentures, subject to the approval of the TSX Venture Exchange (TSXV).PharmaCielo is the Canadian parent of Colombia cultivator and producer of dried flower and food and medicinal grade cannabis extracts for the natural pharmaceuticals and consumer products market, PharmaCielo Colombia Holdings S.A.S.Shares of the company closed unchanged at $0.045 on Thursday on the TSXV.

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Trulieve Cannabis Opening New Dispensary in Tallahassee, Florida

Trulieve Cannabis (TRUL.CN) said Friday that its new medical cannabis dispensary in Tallahassee, Florida, will have a "grand" opening on April 20.The new dispensary will carry a wide variety of popular products including Trulieve's portfolio of in-house brands and partner brands."We are thrilled to open our third location in our home town of Tallahassee," said Trulieve's chief executive Kim Rivers. "Our team is excited to serve patients with high-quality products and exceptional experiences."TRUL will hold a conference call on Thursday, May 7, 2026 at 8:30 AM Eastern Time following the release of its first quarter 2026 financial results.Trulieve closed down $0.30, to $8.95 on Thursday, on the Canadian Securities Exchange.

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BNP Paribas Downgrades QUALCOMM to Neutral From Outperform, Cuts Price Target to $120 From $180

QUALCOMM (QCOM) has an average rating of Hold and mean price target of $148.25, 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)

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BNP Paribas Upgrades Apple to Outperform From Neutral, Raise Price Target to $300 From $260

Apple (AAPL) has an average rating of overweight and mean price target of $301.37, 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)

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Treasury62d ago

Brief: International Transactions in Securities Generate A Net Outflow of Funds of $19.2 Billion in Canadian Economy in February

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Exchange Income Announces April 2026 Dividend and Amends Its Dividend Reinvestment and Share Purchase Plan

Exchange Income (EIF.TO), a diversified, acquisition-oriented company focused on opportunities in the Aerospace & Aviation and Manufacturing segments, on Friday said that its directors declared eligible dividends totaling $0.23 per share for the month ended April 30, 2026, unchanged from the prior month.It is payable on May 15, 2026 to shareholders of record at the close of business on April 30, 2026.Exchange Income also announced certain amendments to its dividend reinvestment and share purchase plan. "Under the Plan, participants may elect to have their dividends reinvested in additional common shares of the corporation at a price based on the volume weighted average closing trading price of the common shares on the Toronto Stock Exchange for the five trading days immediately preceding the dividend payment date, less a discount to such trading price," it said.It added directors have amended the plan to cut the discount to the trading price from 3% to 1%.The amendments will be effective for the April 2026 dividend, added the company.Shares in EIF were down $2.97 or 2.8% at $102.72 yesterday.

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Asia62d ago

SF Holding's Revenue Jumps 2.7% in March

Express logistics business SF Holding (SHE:002352, HKG:6936) recorded a revenue of 24.3 billion yuan in March, up 2.7% from 23.7 billion yuan a year prior, according to a Friday Hong Kong bourse filing.Revenue from the express logistics and supply chain and international business wings increased 0.7% and 9%, respectively, year over year to 18 billion yuan and 6.3 billion yuan.

HKG:6936SHE:002352

Wells Fargo Downgrades Soleno Therapeutics to Equal Weight From Overweight, Adjusts PT to $53 From $110

Soleno Therapeutics Inc (SLNO) has an average rating of Hold and mean price target of $59.33, 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://www..com/contact-us)

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Saga Metals Secures Grant to Advance Drilling at Radar Project in Labrador

Saga Metals (SAGA.V) said Friday that it secured C$225,000 under the Junior Exploration Assistance program in Newfoundland and Labrador to advance drilling at the Radar Critical Minerals Project.The funding represents the maximum funding available under the grant for exploration expenditures in Labrador, Saga said.Among key project highlights, SAAGA confirmed mineralization in 45 out of 45 drill holes completed and observed in two primary zones to date. The company said it has submitted a letter of intent under the program to continue to support the Radar project.Meanwhile, Saga said it has moved to semi-annual financial reporting to reduce the administrative and financial burden associated with quarterly reporting.The company said the first period for which it will not file an interim financial report will be for the three-month period ended April 30.Shares in SAGA were down $0.01 to $0.57 yesterday.

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Research Alert: Ally: Q1 Earnings Beat As Credit Quality Improves

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:ALLY posted solid Q1 results, with operating EPS of $1.11 vs. $0.58 in the prior year, beating consensus by $0.17, while revenue of $2.10B missed consensus by 2%. Net interest margin expanded 17 bps Q/Q to 3.48%, outperforming many peer banks that saw contraction, reflecting structural benefits from balance sheet optimization and disciplined deposit pricing strategy. Credit quality continued to improve, with net charge-offs falling 29 bps to 1.21% and retail auto delinquencies declining 17 bps to 4.60%, demonstrating disciplined underwriting benefits. The $467M provision for credit losses was primarily due to reserve builds from asset growth rather than credit deterioration. Its strong capital position, with a CET1 ratio of 10.1% (up 60 bps) and liquidity of $65.8B, provided strategic flexibility for the $147M in share repurchases executed. The digital banking platform maintained strong momentum with 68 consecutive quarters of customer additions, reaching 3.5M retail deposit customers and $146B in balances.

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