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Air Canada Price Target Lowered to $22.00 at RBC

RBC Capital Markets cut its price target on the shares of Air Canada (AC.TO) by $3.00 to $22.00, to reflect the evolving geopolitical landscape, but reiterated its outperform rating.Analyst James McGarragle's trimmed his estimate for 2026 EBITDA to $3.0 billion, below management's guidance of $3.35 billion to $3.75 billion, reflecting elevated jet fuel costs (and the expected negative impact to demand as higher costs are passed through), "though we see upside should fuel prices normalize on a peace deal."McGarragle anticipates the carrier will implement fare increases in the second quarter to recover elevated fuel costs through both surcharges and base ticket adjustments. "We continue to view 2026 as a transitory year and anticipate a significant FCF inflection in 2028-2029 off normalizing capital expenditures."Price: $18.82, Change: $+0.06, Percent Change: +0.32%

$AC.TO

Mining & Metals100d ago

Nicola Mining Announces Nasdaq Listing and Pricies US$6 Million Offering

Nicola Mining (NIM.V) on Monday priced its US$6-million underwritten public offering of share units in the United States.The company said it is offering 930,233 American Depositary Share (ADSs) units priced at US$6.45 including an ADS and a five-year warrant with an exercise price of C$12.2213.The company said each ADS represents 12 shares of Nicola.The ADSs are expected to begin trading today on the Nasdaq Capital Market under the ticker symbol "NICM".The company plans to use the net proceeds for mill expansion, property, plant and equipment expenditures and general and administrative and working capital.The company's shares were last seen down C$0.06 to C$0.87 on the TSX Venture Exchange.Price: $0.88, Change: $-0.05, Percent Change: -5.38%

$NICM$NIM.V

Wire100d ago

Cosmos Health Gets New 60,000-Unit Sky Premium Life Order From Pharmalink

Cosmos Health (COSM) received a new purchase order for 60,000 units of its Sky Premium Life products from Pharmalink under their exclusive distribution agreement for the United Arab Emirates market.This is the third straight order from Pharmalink, bringing cumulative orders since June 2024 to 270,000 units, Cosmos Health said Monday in a statement.Price: $0.31, Change: $+0.02, Percent Change: +6.14%

$COSM

Asia Markets100d ago

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were mixed in Monday's midday trading, with technology topping sector charts and helping lift the Nasdaq Composite.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 0.3%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.4%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) each added 1.1%.The State Street SPDR S&P Semiconductor (XSD) gained 2.2%, and iShares Semiconductor (SOXX) was up 0.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 2.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.8%.CommoditiesCrude oil rose 3.6%, and the United States Oil Fund (USO) advanced 4.1%. Natural gas fell 0.2%, and the United States Natural Gas Fund (UNG) dipped 0.9%.Gold on Comex lost 0.5%, and the State Street SPDR Gold Shares (GLD) fell 0.4%. Silver shed 1%, and iShares Silver Trust (SLV) dropped 1.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1.2%. The Vanguard Consumer Staples ETF (VDC) fell 1.3%, and iShares Dow Jones US Consumer Goods (IYK) was 1.1% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.4%. VanEck Retail ETF (RTH) dropped 0.8%, while the State Street SPDR S&P Retail (XRT) added 0.3%.Health CareThe State Street Health Care Select Sector SPDR (XLV) eased 0.2%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) dropped. IShares Biotechnology ETF (IBB) rose 0.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also edged higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 1.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 1.4%, ProShares Ether ETF (EETH) slipped 1.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was down 1.6%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Wire100d ago

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

(Updates with I Squared Capital's response to a request for comment.)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.I Squared declined to comment, while Blackstone didn't immediately reply to a request 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: $120.87, Change: $+6.04, Percent Change: +5.26%

$BX

Wire100d ago

Update: Market Chatter: Chevron, Shell to Sign Deals for Venezuelan Oil, Gas Assets

(Updates with decline to comment from Shell in fourth paragraph.)Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.Shell declined to comment, while Chevron did not immediately respond to a request for comment from.Chevron shares rose 1.1% in Monday trading, and Shell gained 0.4%.(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: $190.68, Change: $+2.13, Percent Change: +1.13%

$CVX$SHEL

US Markets100d ago

Update: Oil Prices Rise Above $100 as Deadline For US Blockade of Iranian Ports Passes

(Article updated to mention weekend talks in the third paragraph.)Oil prices rose above $100 per barrel on Monday as the deadline passed for the start of a US blockade of maritime traffic around Iran's ports.West Texas Intermediate crude oil was up 5.9% at $102.27 per barrel, having traded as high as $105.62 earlier in the session. Brent crude jumped 6% to $100.95 per barrel, after rising to $103.87 earlier in the day.The blockade of maritime traffic entering and exiting Iranian ports was set to start at 10 am ET on Monday, according to a statement issued by the US Central Command, or CENTCOM, on Sunday. The development came after the US and Iran failed to reach a deal during negotiations in Pakistan over the weekend, fueling concerns over an already fragile ceasefire between Washington and Tehran."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," the statement said. "CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports."Iran's Islamic Revolutionary Guard Corps has vowed to retaliate, CNN reported Monday.In a social media post on Sunday, President Donald Trump said that the US navy will block "any and all ships trying to enter, or leave, the Strait of Hormuz," the world's most important chokepoint for crude flows."Once again, high stakes negotiations between the US and Iran deadlocked over Washington's zero uranium enrichment demand, setting the stage for further escalation in the (six)-week war and prolonged supply disruptions in advance of summer driving season," Helima Croft, head of global commodity strategy and Middle East and North Africa research at RBC Capital Markets, said in a report e-mailed toon Monday.Trump is mulling over limited strikes against Iran following the failed peace negotiations, The Wall Street Journal reported, citing people familiar with the situation.Besides uranium enrichment, Iran's control of the Strait of Hormuz was among the sticky issues between the two sides, Tudor Pickering Holt said in a note, citing media reports."The US appears to have rejected Iran's sovereignty claim to Hormuz (including toll collection) while Iran views the Strait's reopening as contingent on a final deal," Tudor Pickering Holt analyst Matt Portillo said in the note sent to.

Sectors100d ago

Sector Update: Tech

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.2%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Microsoft (MSFT) is developing new features for Copilot it hopes will make the AI assistant function more like OpenClaw, The Information reported. Microsoft shares were up 2.8%.

$MSFT

Sectors100d ago

Sector Update: Consumer

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.4%.In corporate news, Somnigroup International (SGI) on Monday agreed to acquire bedding and furniture components maker Leggett & Platt (LEG) in an all-stock deal worth about $2.5 billion. Somnigroup shares rose 3%, and Leggett & Platt jumped 14%.

$LEG$SGI

Commodities100d ago

Correction: Market Chatter: Chevron, Shell Advance Venezuela Projects With New Oil, Gas Pacts

(Adds the "Market Chatter" moniker as the article is based on a Reuters report.)Chevron (CVX) and Shell (SHEL) are set to sign Venezuela energy deals on Monday, covering offshore gas and heavy crude areas, Reuters reported Monday, citing three sources familiar with the matter.Chevron is expected to finalize agreements to hand back control of an offshore gas asset while gaining participation in an extra-heavy crude zone within Venezuela's key oil-producing region, the sources said.Separately, Shell is poised to take over operations of the Loran offshore gas field under a new pact, the sources added.Chevron and Shell 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: $190.54, Change: $+1.99, Percent Change: +1.06%

$CVX$SHEL

Treasury100d ago

Pilgrim's Pride Prices Tender Offer for 6.250% Senior Notes

Pilgrim's Pride (PPC) said Monday it will pay $1,056.90 per $1,000 principal amount of notes accepted in its tender offer for up to $250 million of its 6.250% senior notes due 2033.The company said it does not expect to accept all notes that have been tendered at the early tender date of April 10 because they exceeded the maximum tender amount.Pilgrim's Pride said it will accept the notes on a prorated basis using a proration factor of about 53%, with April 14 as the early settlement date.Price: $35.04, Change: $-0.40, Percent Change: -1.13%

$PPC

Mining & Metals100d ago

TAG Oil Provides Update on Operations and Planned Activities in Egypt's Western Desert

TAG Oil (TAO.V) on Monday provided an update on its first quarter operations and planned activities in the Egypt's Western Desert.The company said it is preparing to drill the T-200 vertical well at the Badr Oil Field concession. To capitalize on current oil prices, the company said it is actively working to secure a drilling rig and plans to start operations once a suitable rig becomes available.It has also selected an existing well to carry out a Diagnostic Fracture Injectivity Test on the ARF formation at the Southeast Ras Qattara oncession. Planning for the test program is underway, and field operations are expected to start following execution of a petroleum services agreement before the end of the second quarter.The company added that subject to positive results, it is considering drilling a new vertical well in the fourth quarter to further evaluate the commercial potential of the reservoir.Shares of the company were last seen unchanged at $0.085 on the TSX Venture Exchange.

$TAO.V

Wire100d ago

Sector Update: Health Care

Health care stocks declined Monday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.3%.The iShares Biotechnology ETF (IBB) added 0.7%.In corporate news, Replimune (REPL) is facing "significant risk" related to its ongoing phase 3 trial 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 note. Wedbush downgraded its rating on Replimune to neutral from outperform, with a lower price target of $2 from $19. Replimune shares tumbled 63%.

$REPL

International100d ago

March Existing-Home Sales Drop as Macro Headwinds Deter Buyers, NAR Says

US existing home sales decreased in March as softening job growth and weaker consumer confidence continued to deter potential buyers, data from the National Association of Realtors showed Monday.Sales fell 3.6% sequentially to a seasonally adjusted annual rate of 3.98 million units last month. The consensus was for a 0.8% decline, according to a survey compiled by Bloomberg. Sales declined in all regions month on month."Lower consumer confidence and softer job growth continue to hold back buyers," NAR Chief Economist Lawrence Yun said.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday.The US and Iran failed to reach a deal during negotiations in Pakistan over the weekend, fueling concerns about the durability of an already fragile ceasefire between the two sides.The average 30-year fixed-rate mortgage increased to 6.18% last month from 6.05% in February, the NAR added, citing Freddie Mac data."We don't see much upside for sales over the next several months," Oxford Economics Lead Economist Nancy Vanden Houten said in remarks e-mailed to. "Given the backup in mortgage rates since the start of the war with Iran, we expect home sales to move sideways before starting to gradually rise at the end of the year."Single-family home sales dropped 3.5% month over month to 3.63 million units in March, while condominium and co-op sales fell 5.4% to 350,000 units, NAR data showed."Inventory remains a major constraint on the market," Yun said. "An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions and allow consumers to make purchase decisions without feeling rushed."The median sales price of existing homes rose 1.4% year over year to $408,800, marking the 33rd straight month of annual gains, according to the report."The supply of homes for sale rose in March, but increases are to be expected at the start of the spring home selling season," Vanden Houten said. "Higher mortgage rates will keep some sellers on the sidelines, leaving inventory relatively tight."

US Markets100d ago

Fastenal Logs In-Line First-Quarter Results

Fastenal (FAST) on Monday posted first-quarter results in line with market expectations amid improved customer contract signings and industrial production.The industrial and construction supplies distributor's net income rose to $0.30 a share in the March quarter from $0.26 a year earlier, while net sales jumped 12% to $2.20 billion, both matching the consensus on FactSet.The company attributed the higher sales to improved customer contract signings since the first quarter of 2024, as well as "a slight improvement" in industrial production in the first quarter of this year, it said in a statement.The impact of product pricing on net sales during the quarter was a roughly 350 basis points increase versus being "immaterial" a year earlier, Fastenal said."The industrial economy remains somewhat challenging, with US manufactured (purchasing managers' index) averaging around 52.6%, which is an improvement, but still moderate overall," President and Chief Sales Officer Jeff Watts said on an earnings conference call Monday, according to a FactSet transcript. "We really didn't see much of a tailwind."The company's shares were down 7.4% in afternoon trade, bringing its year-to-date gains to roughly 14%.Fastenal's contract sales, which include national multi-site, local and regional, and government customers, accounted for three-fourths of the total revenue and continued to outperform due to incremental sales from customer signings."On pricing, we realized approximately 3.5% year-over-year, and that compares to 3.3% in the fourth quarter, not enough to offset inflation," Chief Financial Officer Max Tunnicliff said on the call. "While our pricing execution progressed during the quarter, we did not move quickly enough, related mostly because of tariffs and some other items."The company signed 6,950 weighted FASTBin and FASTVend devices during the quarter and reiterated its 2026 outlook for signing between 28,000 and 30,000 machine equivalent units.FASTBin allows clients to digitally view inventory, while FASTVend refers to vending machines.Price: $45.54, Change: $-3.63, Percent Change: -7.38%

$FAST

Commodities100d ago

Chevron, Shell Advance Venezuela Projects With New Oil, Gas Pacts

Chevron (CVX) and Shell (SHEL) are set to sign Venezuela energy deals on Monday, covering offshore gas and heavy crude areas, Reuters reported Monday, citing three sources familiar with the matter.Chevron is expected to finalize agreements to hand back control of an offshore gas asset while gaining participation in an extra-heavy crude zone within Venezuela's key oil-producing region, the sources said.Separately, Shell is poised to take over operations of the Loran offshore gas field under a new pact, the sources added.Chevron and Shell did not immediately respond to' request for comment.Price: $190.75, Change: $+2.19, Percent Change: +1.16%

$CVX$SHEL

Commodities100d ago

Kazakh Crude Exports to Reach Record Levels as Refiners Scramble for Supply, Bloomberg Analysis Says

Kazakh crude exports via the Black Sea are set to reach about 1.7 million barrels per day in May, nearing record levels as global supply tightens, according to a Bloomberg analysis on Monday.Shipments of CPC Blend, primarily sourced from Kazakhstan with smaller volumes from Russia, are projected to rise to about 1.7 mmb/d, the analysis added, citing traders.This would be close to the previous peak of 1.72 mmb/d recorded in September, according to the analysis.The increase offers some relief to European refiners that have struggled to secure crude following disruptions linked to the effective shutdown of flows through the Strait of Hormuz.Global supply pressures intensified after the conflict, the US and Iran curtailed Persian Gulf exports, pushing crude prices higher and tightening availability across key markets, the analysis noted.CPC Blend traded at a record premium of $7.75 per barrel to Dated Brent on Friday, reversing from earlier discounts of $3/bbl to $4/bbl seen before the conflict.Loadings had earlier dropped below 1 mmb/d in January and February due to drone-related disruptions at Russia's Black Sea port and temporary outages at Kazakhstan's Tengiz field.Exports rebounded strongly in March, jumping more than 60% to about 1.6 mmb/d as output resumed at the Tengiz field.April loadings were initially scheduled at about 1.5 million b/d, but actual volumes are expected to come in higher due to cargoes pushed from late March.Kazakhstan accounts for more than 90% of CPC shipments, while Russian-origin crude has contributed about 100,000 b/d in recent months, according to the analysis.

Sectors100d ago

Sector Update: Financial

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was increasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 2.3% to $72,375, and the yield for 10-year US Treasuries was slightly lower at 4.309%.In corporate news, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg reported. Goldman shares were down 2.2%.

$GS

Wire100d ago

Market Chatter: Chevron, Shell to Sign Deals for Venezuelan Oil, Gas Assets

Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.The companies didn't immediately respond to requests from comment from.Chevron shares rose 1.2% in Monday trading, and Shell gained 0.4%.(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: $190.72, Change: $+2.17, Percent Change: +1.15%

$CVX$SHEL

Oil & Energy100d ago

EMEA Natural Gas Update: Prices Ease After Weekend Spike, Stay Elevated on Blockade

European natural gas prices eased in after-hours trade on Monday after reversing part of Sunday's surge, though benchmarks remained roughly 5% above Friday's close amid ongoing geopolitical risk in and around the Strait of Hormuz.The front-month Dutch TTF contract rose 6.249% to 46.365 euros ($54.34) per megawatt-hour, while UK NBP futures rose 5.835% to 116.09 British pence ($1.56) per therm.On Friday, the front-month TTF contract traded near 43.86 euros/MWh on expectations that Saturday's peace talks between the US and Iran would help ease market pressure. When those talks failed, on Sunday, US President Donald Trump issued an order to blockade the Strait, causing prices to surge in pre-market Sunday trade, briefly reaching as high as 51 euros/MWh.Prices then retreated on Monday as traders took profits and clarification emerged that non-Iranian maritime traffic would not be blocked, easing fears of an immediate full shutdown scenario. Even so, prices stayed well above Friday's closing level.US forces were set to begin enforcing restrictions on all maritime traffic entering and leaving Iranian ports at 14.00 GMT on Monday, but were not to impede freedom of navigation for vessels transiting the strait to and from non-Iranian ports, Trading Economics said.Trump also said the US will interdict any ship that has paid a toll to Iran for safe passage through the waterway.While most Middle Eastern gas exports typically flow to Asia, prolonged disruption in the strait would increase competition among importing regions, particularly as Europe works to replenish storage ahead of the next winter season.On Monday, Gas Infrastructure Europe reported EU inventories had climbed to 29.36% of capacity but still remained below year-ago levels above 35%.Liquefied natural gas shipments from the Gulf have been halted for more than a month, with Qatar's largest LNG facility remaining offline since early March after being struck in Iranian attacks. Even after a restart, repairs to the most damaged parts of the Qatari LNG facility are expected to take three to five years to fix, keeping about 17% of the plant's production offline.

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US Markets100d ago