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Sector Update: Energy

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 7% and the United States Natural Gas Fund (UNG) was 1.9% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.9% to $101.85 per barrel, and natural gas futures were up 1.9% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.9% pre-bell.

$BP

Commodities100d ago

Netanyahu Reportedly Warns of Ceasefire Ending Soon; Supports Trump's Naval Blockade Plan: Media Outlets

Asia100d ago

Skyfame Realty, Potential Investor to Exclusively Negotiate on Proposed Restructuring

Skyfame Realty (HKG:0059) entered into an exclusivity agreement with investor Lion Wealth Management and the firm's joint and several provisional liquidators on April 10, according to a Monday Hong Kong bourse filing.Under the legally binding contract, the firm and the investor will negotiate on a proposed restructuring of the company over a six-month exclusivity period and strive to enter a formal agreement.The proposed restructuring will enable the resumption of the trading of Skyfame Realty's shares on the Hong Kong bourse.The move comes as part of an effort by the joint and several provisional liquidators to explore restructuring opportunities since their appointment on Aug. 15, 2022, as well as following a winding-up order against the firm on Nov. 14, 2025.Trading in the firm's debts and shares on the Hong Kong Stock Exchange, which was suspended June 28, 2022, and April 1, 2025, respectively, remains suspended.

HKG:0059

Mining & Metals100d ago

AutoCanada Completes Sale Of Hyundai Of Lincolnwood Dealership

AutoCanada (ACQ.TO) Monday said it completed the sale of Hyundai of Lincolnwood, in Lincolnwood, Illinois, which was a part of the U.S. dealerships reclassified as discontinued operations at year-end 2024.The company said it received about $3.3 million in cash for goodwill and fixed assets, excluding inventory and net working capital. Proceeds will be directed towards reducing the outstanding balance of its revolving credit facility."The sale of Hyundai Lincolnwood represents further advancement in the Company's strategy to divest its U.S. Operations segment, enhance overall profitability, and lower leverage," said AutoCanada in a statement."Following the classification of the U.S. segment as discontinued operations at the end of 2024, the Company has realized approximately $65.8 million in gross proceeds, net of working capital, from the divestiture of U.S. assets."AutoCanada said it continues to expect proceeds from the sale of all its U.S. dealerships to be at the upper end of its previously disclosed $115 million to $130 million range. The U.S. dealership portfolio generated a net loss from discontinued operations of $103.4 million in 2024.Shares of the company closed up 1.8% to $21.1 on Friday on the Toronto Stock Exchange.

$ACQ.TO

Mining & Metals100d ago

Mineros' Q1 Gold Equivalent Production Jumps 10% YoY

Mineros S-A (MSA.TO) said Monday that its gold equivalent production increased 10% year over year in the first quarter.The company produced 60,782 gold equivalent ounces in the three months ended March 31, rising from 55,124 ounces produced in the year-ago period.Mineros' gold production rose 7% to 57,850 ounces while silver production surged 109% to 161,766 ounces.The miner attributed that higher production to the 22% output increase at the Hemco property in Nicaragua, where it focused on metallurgical recoveries and expanding throughput.Mineros also operates the Nechi property in Colombia, where normal production is expected to recover in the third quarter after its first-quarter output was slightly lower than average but in line with mining plans."With over 60,000 gold equivalent ounces produced in the quarter, the company is tracking toward the upper end of annual guidance of 213,000 to 233,000 ounces," chief executive Daniel Henao said.

$MSA.TO

Sectors100d ago

Sector Update: Financial

Financial stocks were falling premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 2.9% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.8%.Goldman Sachs (GS) stock was down more than 4% even after the company reported higher Q1 earnings and net revenue.

$GS

Asia100d ago

Zhong Ji Longevity to Form AI Vision Health JV Firm

Zhong Ji Longevity Science Group (HKG:0767) unit Shenzhen Zhong Ji Health Science agreed to form a joint venture with Guangdong Liangjingjing Technology, according to a Monday Hong Kong bourse filing.The JV company, with an initial registered capital of 1 million yuan, will be 51% owned by Shenzhen Zhong Ji Health Science and 49% by Guangdong Liangjingjing Technology.The joint venture will be engaged in the provision of AI-powered vision health and longevity products and services globally, building the world's first AI+ vision health ecosystem platform.

HKG:0767

Sectors100d ago

Sector Update: Health Care

Health care stocks were mixed pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% lower and the iShares Biotechnology ETF (IBB) up 0.4%Spyre Therapeutics (SYRE) shares were up more than 27% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.

$SYRE

Asia100d ago

Trigiant Group Unit Prospective Successful Bidder for Signal Cables Procurement Project

Trigiant Group (HKG:1300) unit Jiangsu Trigiant Technology is the prospective successful bidder for a 981 million yuan feeder cable product (signal cables) project tender by China Tower, according to a Monday Hong Kong bourse filing.Jiangsu Trigiant Technology is ranked number three in the tender.The procurement of the signal cables facilitates the domestic construction of 5G and artificial intelligence data centers, the feeder cable firm said.

HKG:1300

Asia100d ago

Beijing Enterprises Urban Unit Bags HK$677.7 Million Tenders for Cleaning Services

Beijing Enterprises Urban Resources Group (HKG:3718) unit Shiny Glory Services won the bid for two projects through a tendering process by the Leisure and Cultural Services Department in Hong Kong, according to a Monday Hong Kong bourse filing.The three-year contracts comprise the provision of cleaning and supporting services to leisure venues for HK$392.9 million and to parks and playgrounds for HK$284.8 million.The services will be provided in the Eastern, Wan Chai, Central & Western and Southern Districts of the Leisure and Cultural Services Department.The firm is yet to enter into formal agreements for the tenders.

HKG:3718

Asia100d ago

Easyhold Group Raises HK$13.6 Million from Share Placement

Easyhold Group Holdings Limited (HKG:1703), previously known as Welife Technology, completed the placing of 230 million shares to at least six investors to raise HK$13.6 million, according to a Monday Hong Kong bourse filing.The shares represent around 17% of the restaurant operator's enlarged issued share capital.

HKG:1703

Sectors100d ago

Sector Update: Consumer

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.

$LEG$SGI

Asia Markets100d ago

US Equity Futures Decline Pre-Bell as Trump Orders US Blockade of Strait of Hormuz After Talks With Iran Fail

US equity futures were lower pre-bell on Monday after President Donald Trump ordered a blockade of the Strait of Hormuz following the failure of US and Iran to reach an agreement in peace talks in Islamabad.Dow Jones Industrial Average futures were 1% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.6% lower."Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said in a post on Truth Social on Sunday.Trump said that an agreement was not reached due to Iran's unwillingness to give up its nuclear ambitions, while Iran said the US had made unreasonable demands.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 7.4% at $102.26 per barrel and US West Texas Intermediate crude 7.8% higher at $104.11 per barrel.Existing Home Sales, scheduled for release at 10 am ET, are seen declining 0.8% for March after an increase of 1.7% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was lower by 1.2% in Europe's early afternoon session.In equities, a number of energy firms saw stock gains as oil prices once again breached the $100 mark. Exxon Mobil (XOM) shares gained 1.6%, ConocoPhillips (COP) shares increased 2%, and Equinor (EQNR) stock rose 2.2%.On the losing side, Best Buy (BBY) stock fell 4.5% after the company's stock was downgraded by Goldman Sachs to sell from buy.

Dow JonesNasdaq CompositeS&P 500$BBY$COP$EQNR$XOM

US Markets100d ago

Somnigroup to Acquire Leggett & Platt in $2.5 Billion Deal

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.Shareholders of Leggett & Platt will receive 0.1455 shares of Somnigroup for each share they own in the company, the firms said in a joint statement. Leggett & Platt investors will own about 9% of the combined company.Leggett & Platt's stock jumped nearly 9% in the most recent premarket activity, while Somnigroup declined 1.7%."Leggett & Platt's strong engineering capabilities, diversified end users and cash-generating financial profile meaningfully enhance our global platform," Somnigroup Chief Executive Scott Thompson said in the statement. Somnigroup anticipates the acquisition to expand its addressable markets in bedding and provide access to non-bedding industries.The transaction, which requires approval from Leggett & Platt's shareholders and clearance from regulators, is expected to complete by the end of the year. Following completion, Leggett & Platt will operate as a separate business unit within Somnigroup and maintain its offices in Carthage, Missouri."This transaction provides Leggett & Platt shareholders with the opportunity to participate in the future growth and value creation of a leading global company on a tax deferred basis," Leggett & Platt CEO Karl Glassman said. Glassman will continue to lead Leggett & Platt after the deal closes and will assist with a transition to a new CEO of the business unit within 12 months of completion.The combined company is expected to operate 175 manufacturing facilities across 36 countries, with a global workforce of more than 36,000 employees.Somnigroup and Leggett & Platt estimate the deal to be accretive to adjusted earnings on a per-share basis before synergies in the first year after completion. The companies also expect a positive impact of $50 million on adjusted earnings before interest, taxes, depreciation, and amortization on an annual run-rate basis.In February, Leggett & Platt reported adjusted EPS of $0.22 for the fourth quarter, up from $0.21 the year before. Sales dropped 11% on a yearly basis to $938.6 million. At the time, the company said it expected adjusted EPS to be in between $1 and $1.20 and sales to be in a range of $3.8 billion to $4 billion for 2026.

$LEG$SGI

Equities100d ago

Update: Bernstein Adjusts Price Target on Devon Energy to $59 From $42, Maintains Outperform Rating

(The price target change is from March 19).Devon Energy (DVN) has an average rating of overweight and mean price target of $58.31, 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)

$DVN

Sectors100d ago

Sector Update: Tech

Technology stocks were declining premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.8% lower.Sony (SONY), SoftBank, NEC and Honda Motor (HMC) have jointly established a new artificial intelligence company to develop a domestic AI foundation model for use by Japanese companies, multiple media outlets reported. Shares of Sony Group were down more than 2% pre-bell.

$HMC$SONY

Equities100d ago

TotalEnergies, Turkey Sign MoU to Pursue Exploration Opportunities

TotalEnergies (TTE) said Monday that it has signed a memorandum of understanding with Turkey's state energy company, TPAO, to pursue exploration opportunities.The company said that the MoU creates a framework for technical collaboration, including jointly assessing opportunities in Turkey's Black Sea region and internationally.

$TTE

Equities100d ago

TotalEnergies, Turkey's TPAO Sign MoU for Potential Exploration Collaboration

TotalEnergies (TTE.PA, TTE.L) signed a memorandum of understanding with Türkiye Petrolleri Anonim Ortaklığı, or TPAO, to explore potential technical exploration collaborations.The agreement for a framework includes joint assessment of exploration opportunities in Turkey's Black Sea region as well as international prospects, according to a Monday release. from the French energy giant.

$TTE.L$TTE.PA

Asia100d ago

GCL New Energy Unit to Provide Operation, Management Services

GCL New Energy (HKG:0451) unit Dynasty Digital International Energy Management agreed to provide operation and management services for natural gas generator sets and computing equipment in Ethiopia to Peak Grow, according to a Monday Hong Kong bourse filing.The service term for each set will begin following the completion of its performance acceptance test and receipt of Peak Grow's written handover notice and expire on the earlier of a three-year term or the accumulation of 24,000 operating hours in target state.The annual consideration for the services will be around 8 million yuan.

HKG:0451

Mining & Metals100d ago

Ballard Power Systems Appoints Ralph Robinett as Chief Operating Officer

Ballard Power Systems (BLDP.TO) on Monday said it appointed Ralph Robinett as senior vice president and chief operating officer, replacing Lee Sweetland, effective April 13, 2026.The company said that Ralph brings more than 25 years of global operations, manufacturing, supply chain, and transformation leadership experience across advanced technology and clean energy businesses.It added that, most recently, Robinett served as chief operating officer at GAF Energy. He has also held senior leadership positions at Celestica (CLS.TO), Velodyne LiDAR, and SunPower, where he oversaw international manufacturing, implementation of automation strategy, and supply chain transformation, added the company.Marty Neese, Ballard's President and Chief Executive Officer, said: "Ralph brings a powerful combination of operational discipline, global manufacturing expertise, and strategic leadership to the position. His track record of scaling complex operations, improving productivity, and building strong teams will be invaluable as we continue to execute on our strategy and position Ballard for long-term growth. I also want to thank Lee Sweetland for his contributions to Ballard and wish him well in the future."Shares in BLDP were at last look down in U.S. premarket trade, having risen by more than 6% in both the U.S. and Canada last Friday.

$BLDP.TO$CLS.TO

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US Markets100d ago

Somnigroup to Acquire Leggett & Platt in $2.5 Billion Deal

$LEG$SGI