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Replimune Group Facing 'Significant Risk' on RP1's Ongoing Phase 3 Study, Wedbush Says

Replimune Group (REPL) is facing "significant risk" related to the ongoing phase 3 study of RP1 in melanoma after the US Food and Drug Administration rejected the company's biologics license application for the product candidate, Wedbush Securities said in a Monday note.The FDA rejected the application, citing response assessment uncertainty, study population heterogeneity, and failure to isolate RP1's contribution when administered in combination with nivolumab as deficiencies in the phase 2 IGNYTE trial of of RP1, the brokerage noted."We see no path forward for RP1 with IGNYTE," Wedbush said.Wedbush downgraded its rating on Replimune Group to neutral from outperform, with a lower price target of $2 from $19.Shares of Replimune Group were down more than 62% around midday Monday.Price: $1.81, Change: $-2.95, Percent Change: -62.02%

$REPL

Oil & Energy87d ago

Trump Moves to Block Hormuz Shipping, Threatens Iranian Vessels Near US Forces

US President Donald Trump said Monday the US Navy has begun enforcing a blockade on the Strait of Hormuz, warning Iranian vessels risk immediate elimination if they approach, in a Truth Social post."Warning: If any of these ships come anywhere close to our blockade, they will be immediately eliminated," adding the response would be "quick and brutal," he posted on Monday.Trump said Iran's naval fleet has been "completely obliterated," with about 158 ships, "laying at the bottom of the sea," while noting that only a small number of fast attack ships remain.His warning was targeted at remaining vessels approaching US positions.Trump added that enforcement tactics mirror anti-drug operations, stating the US uses "the same system of kill that we use against the drug dealers on boats at Sea," while claiming "98.2% of Drugs coming into the US by ocean or sea have stopped."The comments follow US-Iran talks held over the weekend in Islamabad that failed to yield progress, with both sides unable to resolve key disputes.After the breakdown, Trump said Sunday that Iran must act quickly, warning, "they better begin the process of getting this international waterway open and fast."He added that the US Navy would enforce the move, saying "effective immediately, the United States Navy... will begin the process of blockading any and all ships."Israeli Prime Minister Benjamin Netanyahu has reportedly warned that a ceasefire may end soon and backed Trump's blockade plan, according to multiple media outlets.In an interview with Fox News on Sunday, Trump said that oil and gasoline prices may remain high through November's midterm elections. "It could be, or the same, or maybe a little bit higher, but it should be around the same," Trump reportedly told Fox News.The US Central Command on Monday also issued directives stating that it will begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 ET on Monday."The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman," according to the statement.The Middle East Murban crude benchmark was down 4.80% in early trading to settle at $102.87 per barrel. In contrast, Brent was up 5.46% at 100.40/bbl, and WTI futures also tracked gains, up 5.27% at $101.66/bbl.

Commodities87d ago

Petrobras Makes New Hydrocarbon Discovery in Campos Basin

Brazil's state-run energy firm Petrobras (PBR) said on Monday it had discovered hydrocarbons in the pre-salt layer of the Campos Basin.The discovery was made in an exploratory well drilled in Block CM-477, about 201 kilometers offshore Rio de Janeiro, at a water depth of nearly 3,000 meters.The well, identified as 1-BRSA-1404DC-RJS, confirmed the presence of hydrocarbons through electrical logs, gas shows, and fluid sampling, the energy firm said in a statement.Petrobras said further laboratory analysis of the collected samples will determine the characteristics of the reservoirs and fluids, helping the company assess the commercial viability of the find.The company operates block CM-477 with a 70% stake, alongside BP (BP), which holds the remaining 30%.The block was awarded under Brazil's 16th bidding round, organized by the National Agency of Petroleum, Natural Gas and Biofuels under a concession regime.Petrobras said the discovery aligns with its strategy to replenish oil and gas reserves through exploration in frontier areas, while ensuring energy supply during the broader energy transition.Price: $46.80, Change: $+0.36, Percent Change: +0.76%

$BP$PBR

Wire87d ago

Market Chatter: Blackstone Said to Mull Joint Bid With I Squared for Stroer Unit

Blackstone (BX) is partnering with I Squared Capital on a potential offer for the core advertising business of German media group Stroer, Bloomberg reported Monday, citing people familiar with the matter.Blackstone and I Squared 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: $117.43, Change: $+2.60, Percent Change: +2.26%

$BX

Equities87d ago

Norwegian Energy Giant Equinor Plans to Halve Scatec Stake

Equinor (EQNR.OL) is considering selling an 8.1% stake in Scatec (SCATC.OL) through an accelerated bookbuild process, according to a Monday release.The Norwegian energy giant will sell the 12.9 million placing shares to eligible institutional and other professional investors, with pricing scheduled for Tuesday and settlement to follow a normal delivery-versus-payment basis.Norwegian solar power producer Scatec will not receive any net proceeds from the transaction. Equinor, meanwhile, will retain a shareholding of 12.9 million shares after the placing completes.

$EQNR.OL$SCATC.OL

Wire87d ago

Jefferies & Co Adjusts Martin Marietta Materials Price Target to $745 From $785, Maintains Buy Rating

Martin Marietta Materials (MLM) has an average rating of overweight and mean price target of $708.09, 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)Price: $621.09, Change: $-10.44, Percent Change: -1.65%

$MLM

Commodities87d ago

CWP Energy Secures Financing for Major UK Wind Farm Project

Developer CWP Energy said Monday that it has secured a loan to finance the Sanquhar II wind farm after winning a government-backed contract for difference in the UK's latest renewable energy auction round.The project, now under construction in southern Scotland, will feature 44 Vestas EnVentus turbines and is to rank as the UK's fourth-largest onshore wind farm.Germany-based KfW IPEX-Bank led the 400 million British pound ($538 million) financing. Commerzbank and Helaba joined during syndication, forming a lending group to support the company's future expansion.The project is expected to generate enough electricity to power about 335,000 homes annually while cutting over 540,000 metric tons of carbon emissions each year, contributing to the UK's net-zero and energy security targets.FairWind has reportedly secured a contract from Vestas to deliver the full installation scope for the project, which is an extension of the existing Sanquhar onshore wind farm.It is expected to begin operations in 2027 and, once fully operational, is to generate about 1.2 terawatt hours of electricity annually, trade publication Windtech International said in January.

Wire87d ago

Autonomous Research Cuts Price Target on T. Rowe Price Group to $79 From $83, Maintains Underperform Rating

T. Rowe Price Group (TROW) has an average rating of underweight and mean price target of $92.25, 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://finwires.com/en/contact)Price: $92.35, Change: $+0.86, Percent Change: +0.94%

$TROW

Wire87d ago

BTIG Research Adjusts Boston Scientific Price Target to $90 From $110, Maintains Buy Rating

Boston Scientific (BSX) has an average rating of Buy and mean price target of $98.71, 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)Price: $61.97, Change: $+0.18, Percent Change: +0.29%

$BSX

Wire87d ago

Blackstone Said to Mull Joint Bid With I Squared for Stroer Unit, Bloomberg Reports

$BX

Wire87d ago

BTIG Research Adjusts Edwards Lifesciences Price Target to $98 From $103, Maintains Buy Rating

Edwards Lifesciences (EW) has an average rating of overweight and mean price target of $97.27, 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)Price: $77.30, Change: $-0.57, Percent Change: -0.73%

$EW

Wire87d ago

Evercore ISI Adjusts Lennar Price Target to $82 From $89, Maintains Underperform Rating

Lennar (LEN) has an average rating of Underweight and mean price target of $89, 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)Price: $88.09, Change: $-0.88, Percent Change: -0.99%

$LEN

Wire87d ago

Evercore ISI Adjusts Extra Space Storage Price Target to $149 From $150, Maintains In Line Rating

Extra Space Storage (EXR) has an average rating of overweight and mean price target of $153.22, 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)Price: $137.50, Change: $-1.38, Percent Change: -0.99%

$EXR

Wire87d ago

Autonomous Research Adjusts Price Target on Franklin Resources to $24 From $25, Maintains Underperform Rating

Franklin Resources (BEN) has an average rating of hold and mean price target of $26.27, 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)Price: $25.27, Change: $+0.36, Percent Change: +1.43%

$BEN

Wire87d ago

Autonomous Research Adjusts Price Target on Invesco to $25 From $28, Maintains Neutral Rating

Invesco (IVZ) has an average rating of overweight and mean price target of $27.91, 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)Price: $23.82, Change: $+0.24, Percent Change: +1.02%

$IVZ

Wire87d ago

Evercore ISI Adjusts Public Storage PT to $309 From $311, Maintains In Line Rating

Public Storage (PSA) has an average rating of overweight and mean price target of $311.93, 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)Price: $291.75, Change: $-3.25, Percent Change: -1.10%

$PSA

Wire87d ago

Autonomous Research Adjusts Price Target on BlackRock to $1,225 From $1,286, Maintains Outperform Rating

BlackRock (BLK) has an average rating of buy and mean price target of $1,224.88, 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)Price: $1001.69, Change: $+2.38, Percent Change: +0.24%

$BLK

Wire87d ago

Evercore ISI Adjusts D.R. Horton PT to $153 From $169, Maintains In Line Rating

D.R. Horton (DHI) has an average rating of Hold and mean price target of $156, 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)Price: $141.39, Change: $-1.25, Percent Change: -0.88%

$DHI

Mining & Metals87d ago

RBC on OpenText's Preliminary Q3 Revenue

OpenText (OTEX.TO, OTEX) last week pre-announced preliminary third-quarter revenue of US$1.28 billion, effectively in line with RBC/consensus estimates of $1.27 billion.In a note, RBC Capital Markets analyst Paul Treiber, who has a sector-perform rating and US$30.00 price target on the stock, estimates the third-quarter preliminary revenue implies constant-currency organic growth of -0.9%, better than the -1.6% in RBC's model and up from -2.6% in the second quarter."[T]he results suggest OpenText's Q3 was largely stable despite geopolitical disruptions during the quarter. In light of the continued pessimism for software stocks, an in-line quarter with slightly negative organic growth is unlikely to be a material catalyst for the stock. However, with OpenText trading at a deeply discounted valuation of 5.7x EV/EBITDA and 4.8x P/E, the results shouldn't weigh on the shares, in our view."Price: $29.64, Change: $+0.81, Percent Change: +2.81%

$OTEX$OTEX.TO

Wire87d ago

Microsoft, Salesforce Recent Sell-Offs Disconnected From Emerging AI Monetization Opportunities, Wedbush Says

Microsoft (MSFT), Salesforce (CRM) and ServiceNow's (NOW) recent sell-offs amid the broader software disposal are disconnected from the AI opportunities over the coming years, with enterprises moving to integrate AI across their tech stacks on a priority, Wedbush said in a note Monday.The brokerage said its tech team has seen a rapid pace of enterprise AI adoption over the past few weeks, as per conversations with multiple customers and partners across the board including throughout Asia, furthering its enterprise software sector AI monetization thesis.Increased AI usage is also lowering the cost and skill required to execute sophisticated cyber attacks, Wedbush said, adding that AI in cybersecurity does not reduce the need for endpoints and their vendors, but multiplies it as more enterprises deploy LLM-powered agents, meaning more run-time monitoring and identity governance.In this context, Wedbush said its favorites included CrowdStrike (CRWD), Palo Alto Networks (PANW), Zscaler (ZS), Check Point Software (CHKP), and Rubrik (RBRK).Price: $378.62, Change: $+7.75, Percent Change: +2.09%

$CHKP$CRM$CRWD$MSFT$NOW$PANW$RBRK$ZS

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Oil & Energy87d ago