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US Dollar Rises Early Monday; Focus on Existing Home Sales, Beige Book, IMF Meetings This Week

The US dollar rose against its major trading partners early Monday ahead of the release of existing home sales data for March at 10:00 am ET and an appearance by Federal Reserve Governor Stephen Miran at 6:20 pm ET.Tuesday's highlights include data on small business sentiment and producer prices.Import and export price data, the first look at manufacturing data for April, and the Federal Reserve's Beige Book are the key releases on Wednesday.Weekly jobless claims, the first services data for April, and industrial production data for March are the main points on Thursday.Friday's schedule is light, with only the St. Louis Fed's GDP nowcast estimate for Q1.The International Monetary Fund is holding its annual meetings this week, so comments by Fed officials and representatives of other central banks will be frequent.A quick summary of foreign exchange activity heading into Monday:EUR/USD fell to 1.1700 from 1.1729 at the Friday US close and 1.1713 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank Vice President Luis de Guindos is due to speak at 8:15 am ET. The next European Central Bank meeting is scheduled for April 30.GBP/USD fell to 1.3439 from 1.3469 at the Friday US close and 1.3440 at the same time Friday morning. UK same-store sales data for March are due to be released at 7:01 pm ET on Monday evening. The next Bank of England meeting is scheduled for April 30.USD/JPY rose to 159.6931 from 159.3031 at the Friday US close and 159.2051 at the same time Friday morning. Japanese money stock growth accelerated in March, according to data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.USD/CAD rose to 1.3837 from 1.3835 at the Friday US close and 1.3831 at the same time Friday morning. Canadian building permits data for February are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 29.

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

Research65d ago

BofA Securities Downgrades NXP Semiconductors to Neutral From Buy, Price Target is $230

NXP Semiconductors (NXPI) has an average rating of buy and mean price target of $261.81, 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)

$NXPI

Research65d ago

Citigroup Downgrades Oshkosh Corp to Neutral From Buy, Adjusts Price Target to $170 From $180

Oshkosh Corp (OSK) has an average rating of overweight and mean price target of $171.07, 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)

$OSK

Research65d ago

Cantor Fitzgerald Downgrades Whitestone REIT to Neutral From Overweight, Adjusts Price Target to $19 From $17

Whitestone REIT (WSR) has an average rating of hold and mean price target of $18.86, 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)

$WSR

Research65d ago

Bernstein Upgrades Ryanair Holdings to Outperform From Market Perform, Adjusts Price Target to $77 From $67

Ryanair Holdings (RYAAY) has an average rating of buy and mean price target of $76.06, 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)

$RYAAY

Research65d ago

MTY Food Group Price Target Lowered To $46 At RBC

RBC Capital Markets lowered its price target on MTY Food Group Inc. (MTY.TO) to $46 from $48.Analyst Ryland Conrad maintained a Sector Perform rating on shares of the Canadian quick service restaurant franchisor and operator."While the outcome of the ongoing strategic review could be a catalyst for the shares, there remains considerable uncertainty with respect to the scope, probability, timing and valuation of any potential transaction(s)," Conrad said in a note to clients."As such, our focus remains on the organic growth trajectory, and although we believe management is working through recent challenges and gradually making progress strengthening the network, we expect sustained macro and competitive headwinds to limit any meaningful improvement in the near term," the analyst said."While we did see some organic growth green shoots emerging in Q4/25, both consolidated SSS of -2.5% (versus -1.7% in Q4/25) and net location closures of -46 (versus -32 in Q1/25) were below our expectations this quarter in what remains a challenging operating environment (macro, competition)."(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)

$MTY.TO

International65d ago

Persian Gulf Turmoil Blunts European Bourses Midday

European bourses tracked moderately lower midday Monday after President Donald Trump said the US will block the Strait of Hormuz, following the failure of peace negotiations between Washington and Tehran over the weekend.Oil stocks led gains on continental trading floors, while food and tech shares lagged.Front-month North Sea Brent crude-oil futures were up 7.1% at $101.96 a barrel, in midday trades.Investors also eyed Wall Street futures flashing red, and lower closes overnight on Asian exchanges.In other news, Germany's Rheinmetall and the Netherlands-based Destinus announced a joint venture to manufacture missile systems. The venture will combine Rheinmetall's large production capacities with Destinus's specific technology, said company officials.The pan-continental Stoxx Europe 600 Index was off 0.6% mid-session.The Stoxx Europe 600 Technology Index was down 0.9%, and the Stoxx 600 Banks Index lost 0.8%.The Stoxx Europe 600 Oil and Gas Index rose 0.7%, while the Stoxx 600 Europe Food and Beverage Index declined 0.9%.The REITE, a European REIT index, fell 0.8%.On the national market indexes, Germany's DAX was down 1%, and the FTSE 100 in London lost 0.5%. The CAC 40 in Paris was down 0.8%, and Spain's IBEX 35 fell 1.5%.Yields on benchmark 10-year German bonds were higher, near 3.08%.The Euro Stoxx 50 volatility index was up 6.8% at 23.83, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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Equities65d ago

Top Premarket Gainers

Sky Quarry (SKYQ) shares were up 48% in Monday premarket activity, continuing Friday's surge.Battalion Oil (BATL) stock was 32% higher, erasing the previous session's loss.Ideaya Biosciences (IDYA) shares were up 19% after the company said that its phase 2/3 registrational trial evaluating darovasertib in combination with crizotinib in patients with metastatic uveal melanoma met its primary endpoint.Leggett & Platt (LEG) stock was 7.2% higher after the company and Somnigroup International (SGI) said that Somnigroup has agreed to acquire Leggett & Platt in an all-stock transaction valued at about $2.50 billion.

$BATL$IDYA$LEG$SKYQ

Treasury65d ago

BMO Awaiting Manufacturing and Housing Data Later This Week

Key reports this week in Canada include manufacturers' shipments on Wednesday, which are expected to rebound in February after a sharp pullback in auto production the prior month, says Bank of Montreal (BMO) in its morning note Monday.There is also existing home sales on Thursday, which are likely to "remain depressed" in March with Ontario's prices grinding lower for a fifth straight year, adds the bank.The Liberal Party of Prime Minister Mark Carney looks to gain majority status in the House of Commons following Monday's three by-elections, reducing the chances of a parliamentary election in the next three years, notes BMO.

$CXY

Wire65d ago

Aeluma Wins $4 Million in Contracts for US Government Semiconductor Program; Shares Rise Pre-Bell

Aeluma (ALMU) said Monday it has won more than $4 million in contracts to scale the US government's semiconductor heterogenous integration platform for quantum and high-speed datacom applications.The company said Tower Semiconductor (TSEM) and Sumitomo Chemical Advanced Technology will participate in the work involved in the contracts."These contracts provide non-dilutive funding to accelerate commercialization, and to strengthen our relationship with key government partners in making manufacturing of next-generation photonic systems more viable," said CEO Jonathan Klamkin.Shares of Aeluma rose more than 23% in premarket trading Monday.Price: $13.27, Change: $+2.51, Percent Change: +23.33%

$ALMU

Mining & Metals65d ago

Update: GFL Down 2.5% In US Premarket As Moves To Buy SECURE Waste Infrastructure

(Updates share price and adds commentary from Stifel Canada on Bloomberg report flagging GFL buying Secure in paragraphs four and five)GFL Environmental Inc. (NYSE and TSX: GFL) was at last look down 2.5% in US premarket trade after saying Monday it has agreed to acquire all of the issued and outstanding common shares of SECURE Waste Infrastructure Corp. (SES.TO) for $24.75 per SECURE common share, representing an enterprise value of approximately $6.4 billion.In a statement GFL said consideration for the transaction will be satisfied through a combination of 80% in GFL subordinate voting shares and 20% in cash. It added the transaction will be implemented through a plan of arrangement under the Business Corporations Act (Alberta).Among highlights, GFL said the deal will be immediately accretive, increasing Adjusted Free Cash Flow per share by 12% to 15% and will give it a "highly attractive financial profile", increasing Adjusted EBITDA margin to 31.6% and Adjusted Free Cash Flow conversion to between 40.5% and 42.5% on a pro forma basis.Stifel Canada noted Bloomberg had reported that GFL may offer to acquire SECURE for $24.50 per share, which would have been a 15% premium to Friday's close, but slightly below its target price of $26.00 per share. It noted the implied 2026 estimated valuation was 12 times the enterprise multiple (EV/EBITDA) and 25.5 times price earnings P/E.Stifel Canada said, "If this offer from GFL comes to fruition it would be solid, but we do believe that SES could potentially fetch a slightly higher price given the growth outlook. There is no certainty a deal will be completed, but the stock should trade up sharply today, and this potential interest in SES from GFL does help bolster our investment thesis. Our view has been that SECURE's business has become significantly more resilient over the last five-years and is more akin to its residential and industrial waste peers."Shares in SES closed Friday up $0.07 or 0.33% at $21.36. GFL was down by more than 3% in both Canada and the U.S. last Friday.

$GFL.TO$SES.TO

Research65d ago

Piper Sandler Downgrades Replimune to Neutral From Overweight, Adjusts Price Target to $4 From $14

Replimune Group (REPL) has an average rating of Hold and mean price target of $4, 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)

$REPL

Research65d ago

JPMorgan Downgrades Replimune Group to Underweight From Neutral, $10 Price Target

$REPL

Research65d ago

BMO Capital Downgrades Replimune to Underperform From Market Perform, Adjusts PT to $1 From $11

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Asia65d ago

SH Group Unit Nominated as Sub-Contractor for Electrical, Mechanical System Supply

SH Group (Holdings) (HKG:1637) unit Shun Hing E & M Engineering signed and returned a letter of intent it received nominating it as a sub-contractor for the supply and installation of various electrical and mechanical systems, according to a Monday Hong Kong bourse filing.The contract has a value of around HK$150 million, the engineering services company said.

HKG:1637

Research65d ago

Cantor Fitzgerald Downgrades Replimune Group to Neutral From Overweight

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Mining & Metals65d ago

Almonty Industries Establishing U.S. Corporate Headquarters

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Asia65d ago

Sinopec Reduces Stake in China Merchants Energy Shipping

China Petroleum & Chemical (HKG:0386, SHA:600028) or Sinopec will reduce its shareholding in China Merchants Energy Shipping (SHA:601872) by about 80.7 million shares, according to a Saturday filing with the Shanghai bourse.The reduction will be equivalent to not more than 1% of China Merchants' share capital, the filing said.Sinopec is the company's second-largest shareholder.

HKG:0386SHA:600028SHA:601872

Asia65d ago

Shanghai Huafon Aluminium Directors Approve 3-Billion-Yuan Aluminum Project

Shanghai Huafon Aluminium (SHA:601702) directors approved the construction of a 550,000-ton-per-year high-end aluminum sheet, strip, and foil project, according to a Saturday filing with the Shanghai bourse.The company will invest up to 3 billion yuan for the project.

SHA:601702

Mining & Metals65d ago

Ballard Power Systems Names Ralph Robinett as Chief Operating Officer

$BLDP.TO

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Mining & Metals65d ago

Update: GFL Down 2.5% In US Premarket As Moves To Buy SECURE Waste Infrastructure

$GFL.TO$SES.TO