Financial News · Live Terminal

Page 2689 of 2837

Alphabet Set for $100 Billion Windfall From SpaceX Investment, Bloomberg Reports

Update: WTI Closes Up a Penny as Supply Worries Continue Even as Trump Claims the War is "Close to Over"

West Texas Intermediate (WTI) crude oil closed up by a penny on Wednesday as U.S. President Trump again declared the war on Iran is near an end while traders continue to scramble for supply with the closure of the Strait of Hormuz keeping a fifth of daily oil demand off the market.WTI crude oil for May delivery closed up US$0.01 to settle at US$91.29 per barrel, while June Brent oil was last seen up US$0.23 to US$95.02.Trump's on Wednesday told a U.S. television network that the war was "close to over", according to the New York Times, while on Tuesday saying he expected negotiations with Iran to soon continue.Still, the Strait of Hormuz remains closed to most shipping, keeping 20% of daily oil demand from the market, as Iran continues to forbid tankers from transiting the waterway while the United States blockades Iranian ports."Iran's own blockade of non-Iranian oil keeps most crude inside the Gulf, while the US blockade now prevents Iranian crude from getting out. i.e., the (Strait of Hormuz) is theoretically closed from both sides (with some ships sailing through). The only meaningful ME (Middle Eastern) oil reaching the global market is Saudi Arabia's pipeline exports through Yanbu to the Red Sea," Ole Hvalbye, a commodities analyst at SEB Research, wrote.U.S. commercial oil inventories posted an unexpected drop last week, as the Energy Information Administration reported stocks fell 0.9-million barrels, while the consensus estimate among analysts polled by Reuters expected a rise of 0.15-million barrels

$CLK6$LCOM6$USO

International92d ago

US Economic Activity Up in Most Districts, Inflation Generally Moderate Outside Energy, Beige Book Shows

US economic activity was up in most of the Federal Reserve Districts since the last Beige Book report, but there was weakness in some regions and energy price gains were widespread, the Federal Reserve's most recent update released Wednesday showed."Overall economic activity increased at a slight to modest pace in eight of the twelve Federal Reserve Districts, while two Districts reported little change and two Districts reported slight to modest declines," the Beige Book showed. "The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing, and capital investment, with many firms adopting a wait-and-see posture."Manufacturing activity posted small gains while consumer spending was up slightly, even with winter weather and higher fuel prices.Energy activity received a boost from higher oil prices, but uncertainty remained. The overall business outlook showed widespread uncertainty about future conditions.Employment was steady to slightly higher, except for a decline in one district. Labor demand was stable in most districts, with mostly replacement hiring and minimal layoffs, but there was increased demand for temporary workers.The availability of labor improved somewhat, but there were still issues finding skilled workers in some sectors."While most Districts indicated that AI had not yet significantly impacted overall staffing levels, some noted that AI-driven productivity improvements had enabled many firms to delay or reduce hiring," the Beige Book showed.Wages were up at a modest to moderate pace, with wage competition muted outside of some trades and health care.Price growth was generally moderate overall, but input costs, particularly for energy products, outpaced selling prices."Energy and fuel costs rose sharply in all Districts, attributed to the Middle East conflict, leading to higher freight and shipping costs and higher prices for plastics, fertilizers, and other petroleum-based products," the Beige Book showed, adding that input costs were also higher outside of energy.The report was prepared at the New York Fed based on information collected on or before April 6, before the release of the March consumer price report on April 10.

Sectors92d ago

May WTI Crude Oil Contract Closes Up US$0.01; Settles at US$91.29 per Barrel

$CLK6$LCOM6$USO

Oil & Energy92d ago

Iran Proposes Safe Exit for Ships via Oman Side of Hormuz, Reuters Reports

Mining & Metals92d ago

DAVIDsTEA Establishes U.S. Distribution Platform

North American tea merchant DAVIDsTEA (DTEA.V) on Wednesday said it has established a U.S. fulfillment platform in Chicago, positioning the company to "better serve American customers and drive profitable long-term growth in the U.S. market."The company said it had begun fulfilling U.S. e-commerce orders through a strategic third-party logistics partner based in Chicago since late March. It added the new fulfillment platform complements DAVIDsTEA's warehouse and logistics operations in Montreal, "bringing inventory closer to U.S. customers, improving service levels, and strengthening the company's ability to grow profitably south of the border"."Following the U.S. government's decision to eliminate the de minimis trade exemption, which allowed goods under US$800 to enter the country without paying duties or taxes, shipping orders from Canada into the United States became more complex and costly," said DAVIDsTEA in a statement. "The resulting customs friction created shipping delays, unpredictable delivery times, and a diminished consumer experience that contributed to a decline in U.S. e-commerce results."Shares of the company were last seen up 1.25% at $0.81 on the TSX Venture Exchange.Price: $0.81, Change: $+0.01, Percent Change: +1.25%

$DTEA.V

Wire92d ago

Argus Raises Price Target on Morgan Stanley to $225 From $210

Morgan Stanley (MS) has an average rating of overweight and mean price target of $194.23, 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: $191.57, Change: $+8.23, Percent Change: +4.49%

$MS

Wire92d ago

Argus Raises Price Target on Johnson & Johnson to $275 From $240

Johnson & Johnson (JNJ) has an average rating of overweight and mean price target of $256.39, 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: $237.10, Change: $-3.00, Percent Change: -1.25%

$JNJ

Wire92d ago

Zoom Names Russell Dicker as Chief Product Officer

Zoom Communications (ZM) said Wednesday it has appointed Russell Dicker as chief product officer.Before joining Zoom, Dicker most recently served as corporate vice president of Product at Microsoft (MSFT), where he led the product management and data science organizations for Microsoft Teams, the company said.Shares of Zoom were up 7.4% in Wednesday afternoon trading.Price: $88.39, Change: $+5.99, Percent Change: +7.27%

$MSFT$ZM

Wire92d ago

Argus Lifts Price Target on Citigroup to $145 From $129

Citigroup (C) has an average rating of buy and mean price target of $138.48, 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: $131.67, Change: $+2.08, Percent Change: +1.61%

Wire92d ago

Wells Fargo Raises Price Target on Morgan Stanley to $200 From $189

$MS

US Markets92d ago

Equities Mostly Rise Intraday as Trump Reportedly Says War Likely 'Very Close to Over'

US benchmark equity indexes were mostly higher intraday as President Donald Trump reportedly said the Iran was likely "very close to over."The Nasdaq Composite was up 1% at 23,873.7 after midday Wednesday, while the S&P 500 rose 0.4% to 6,998.1. The Dow Jones Industrial Average fell 0.3% to 48,376.9. Among sectors, consumer discretionary and technology paced the gainers, while industrials saw the steepest drop.Microsoft (MSFT) shares were up 4.4%, the top gainer on the Dow, with fellow tech majors Salesforce (CRM), Apple (AAPL), and IBM (IBM) among the best performers on the index.Trump said he sees the US-Israel war with Iran "as very close to over," news outlets reported, citing an interview on Fox Business Network conducted Tuesday and broadcast Wednesday. "We'll see what happens," Trump reportedly said. "I think they want to make a deal very badly."The army chief of mediator Pakistan arrived in Iran to try to prevent a renewal of the conflict, media outlets reported Wednesday."Markets have grown more confident that the Middle East crisis is moving toward a resolution, with the US and Iran arranging a second round of talks, and Tehran seemingly willing to halt shipments to avoid testing the US naval blockade," ING Bank said in a report.Iran's military has threatened to shut down shipping operations in the Red Sea, as well as the Persian Gulf and Sea of Oman if a US blockade of its ports continues, CNN reported.West Texas Intermediate crude oil was up 0.7% at $91.87 a barrel intraday, while Brent gained 0.6% to $95.40.In economic news, US homebuilder confidence sank this month to the lowest since September amid economic uncertainty, as well as increasing building material costs and interest rates, the National Association of Home Builders and Wells Fargo said."Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic uncertainty," NAHB Chairman Bill Owens said. "The year started with hopes for housing momentum growth, but risks with respect to the Iran war, energy costs, and declines for consumer confidence have slowed the market."US Treasury yields were higher intraday, with the 10-year rate up 3.2 basis points at 4.29% and the two-year rate rising 2.1 basis points to 3.78%.In company news, Morgan Stanley (MS) and Bank of America's (BAC) first-quarter results topped Wall Street's estimates. Morgan Stanley's shares were up 4.6%, while Bank of America rose 2.2%.Snap (SNAP) shares jumped 7.6%. The social media company plans to lay off about 1,000 employees, or roughly 16% of its full-time workforce, as part of Chief Executive Evan Spiegel's efforts to reduce costs.Gold was down 0.7% at $4,815.30 per troy ounce, while silver fell 0.4% to $79.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BAC$CRM$IBM$MS$MSFT$SNAP

Insider Trading92d ago

Crown Holdings Insider Sold Shares Worth $801,375, According to a Recent SEC Filing

Timothy J Donahue, Director, President & CEO, on April 15, 2026, sold 7,500 shares in Crown Holdings (CCK) for $801,375. Following the Form 4 filing with the SEC, Donahue has control over a total of 451,854 common shares of the company, with 451,070 shares held directly and 784 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1219601/000143774926012350/xslF345X05/rdgdoc.xmlPrice: $105.19, Change: $-1.96, Percent Change: -1.83%

$CCK

Research92d ago

Research Alert: CFRA Initiates Coverage On Shares Of Quebecor Inc. With A Hold Opinion

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We set our 12-month target price at CAD60, applying an EV/EBITDA multiple of 7.6x to our 2026 estimate, comparable to its five-year historical average multiple at 7.9x. We set our 2026 EPS estimate at CAD4.18 and initiate 2027's at CAD4.54. In the telecom segment, competition continues to intensify in the mobile and wireline telephony, Internet access, television, and over-the-top markets. Due to ongoing technological developments, the distinction between various platforms is fading, and QBR expects increasing competition from non-traditional businesses across its key business segments. In the media segment, the industry has been experiencing fundamental and permanent structural changes for years. Generalized audience fragmentation has prompted many advertisers to review their media placement strategies and turn a significant part of their advertising budgets over to international competitors operating solely in digital media.

$QBR.B

Sectors92d ago

Sector Update: Energy Stocks Mixed Wednesday Afternoon

Energy stocks were mixed Wednesday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.5%, and the Dow Jones US Utilities Index was shedding 0.7%.In sector news, President Donald Trump downplayed the possibility of an extended war in Iran. Trump said the war with Iran was close to over, telling the world to brace for an "amazing two days," as the army chief of mediator Pakistan arrived in Tehran in a bid to prevent a renewed conflict, Reuters reported. Pakistan's military confirmed Field Marshal Asim Munir had arrived in Tehran, the news report said. A senior Iranian source told Reuters that Munir, who had mediated the last round of talks, was heading to Iran "to narrow gaps" between the two sides.Front-month West Texas Intermediate crude oil was rising 0.7% to $91.87 a barrel, and the global benchmark Brent crude contract was advancing 0.6% to $95.40 a barrel. Henry Hub natural gas futures increased 0.2% to $2.61 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 5.1 million barrels in the week ended April 10 following an increase of 1.3 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 900,000 barrels after a 3.1-million-barrel increase in the previous week, compared with the 1.9-million-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Spire (SR) has agreed to sell its natural gas storage assets in Wyoming and Oklahoma to I Squared Capital for $650 million, the companies said Wednesday. Spire shares were down 0.4%.Equinor's (EQNR) Danske Commodities said it eliminated about 28 positions in March, as the company aims to further its new commercial strategy. Equinor shares fell 1.7%.NOV (NOV) shares decreased 0.4% after the company said disruptions linked to the war in the Middle East are expected to weigh on its Q1 results, with revenue and earnings coming in below prior guidance due to logistical challenges and delayed equipment deliveries in the region.BP (BP) plans to simplify its business into two main divisions focused on oil and gas production and downstream operations, marking a shift away from its earlier energy transition strategy, multiple media sources reported Tuesday. BP shares were up 0.4%.

$BP$EQNR$NOV$SR

Mining & Metals92d ago

Great West Lifeco Remains Top Pick in CIBC Q1 LIfecos Preview

CIBC Capital Markets expects Canadian life insurers to post double-digit year over year earnings per share growth on average.Great West Lifeco (GWO.TO) remains top pick. Analyst Paul Holden expects the company to post the highest Y/Y EPS growth in the first quarter (19%). There is potential upside from a number of growth levers at Empower and a strong demand backdrop for capital solutions, he adds. An Empower bolt-on acquisition is a potential catalyst with estimated EPS accretion of ~6%. The stock is trading at a 6% premium to the group average on P/E, consistent with the historical premium.Manulife (MFC.TO) is another outperformer. Holden is looking for a better quarter from the company, noting that Manulife printed strong headline results last quarter but disappointed the Street on some KPIs. "We look for an improvement in U.S. insurance experience, Asia APE sales and GWAM net flows as potential upside drivers."Holden also wants to see double-digit EPS growth and continued progress towards the 2027 18% ROE objective. Manulife is trading at a 5% discount to the group average P/E and recent history suggests an in-line multiple is possible, he adds.CIBC lifted its Q1 EPS estimates for Great West Lifeco by 2%, Manulife and Sun Life by 1% each due to FX and company-specific factors, and decreased the estimate for iA Financial (IAG.TO) by 5% due to seasonality for U.S. dealer services and auto finance."As a group the stocks have not traded all that great YTD (+2.8% on average), and the discount to the banks on P/E now stands at 15% (five-year average is 11%)," Holden writes. He favors lifecos over banks given the valuation discount and strong fundamentals.Price: $70.45, Change: $+1.18, Percent Change: +1.70%

$GWO.TO$IAG.TO$MFC.TO$SLF.TO

Wire92d ago

Cadence Design Systems Expands Nvidia Partnership, Collaborates with Google Over AI Chip Design, Accelerated Computing

Cadence Design Systems (CDNS) said in separate press releases on Wednesday it expanded its partnership with Nvidia (NVDA) and entered a collaboration with Alphabet's (GOOG/GOOGL) Google.Cadence will work with Nvidia to deliver services covering agentic AI and physics-based simulation for productivity efficiencies and speeding up engineering flows across semiconductor design by combining its electronic design automation with Nvidia CUDA-X and Omniverse libraries, according to a statement.Nvidia will adopt Cadence's AgentStack in its chip design flows, and the companies will also focus on embedded agentic AI for the development of autonomous machines, the company stated.Cadence will collaborate with Google to optimize the Cadence ChipStack AI Super Agent with Gemini on Google Cloud to advance the transition to agentic design automation, according to the company.Cadence is tightening its integration between the Gemini-enabled super agent and Cadence EDA engines, while leveraging Google's infrastructure to deliver compute for Gemini's large-language model reasoning, the company added.Price: $302.86, Change: $+10.49, Percent Change: +3.59%

$CDNS$GOOG$GOOGL$NVDA

Sectors92d ago

Market Chatter: Bessent Says US Won't Renew Russian, Iranian Oil Waivers

Treasury Secretary Scott Bessent said the US will not renew the general licenses on Russian and Iranian oil, Bloomberg reported Wednesday, citing a press briefing.(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.)

International92d ago

Employment 'Steady to Up Slightly,' Inflation Moderate Overall, Beige Book Shows

Sectors92d ago

Bessent Says US Won't Renew Russian, Iranian Oil Waivers, Bloomberg Reports

Showing 53761-53780 of 56740

US Markets92d ago

Equities Mostly Rise Intraday as Trump Reportedly Says War Likely 'Very Close to Over'

Dow JonesNasdaq CompositeS&P 500$AAPL$BAC$CRM$IBM$MS$MSFT$SNAP