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Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index was falling 1.2%, and the Dow Jones US Utilities Index was down 0.4%.Front-month West Texas Intermediate crude oil rose 0.1% to $91.40 a barrel, and the global benchmark Brent crude contract added 0.7% to $96.17 a barrel. Henry Hub natural gas futures advanced 1.1% to $2.95 per 1 million BTU.In corporate news, Shell (SHEL) and Equinor's (EQNR) Jackdaw gas field in the North Sea is expected to receive UK government approval for new drilling this month, news outlets reported. Separately, Morgan Stanley upgraded Shell to overweight from equalweight and lifted its price target to $101.30 from $81.60. Shell shares were up 0.8%, while Equinor was shedding 1.2%.TotalEnergies (TTE) shares were down 0.5% after Morgan Stanley downgraded the stock to equalweight from overweight.BP's (BP) "turnaround" is gaining momentum as stronger commodity conditions, asset sales and cost cutting are expected to accelerate debt reduction and improve the company's balance sheet, RBC Capital Markets said in a note, after hosting a session with BP CFO Kate Thomson. BP shares were up 0.6%.Dominion Energy (D) shareholders have given consent to the company to proceed with the planned merger with NextEra Energy (NEE), according to regulatory filings Thursday. Dominion shares were shedding 0.6%, and NextEra was down 0.9%.

$BP$D$EQNR$NEE$SHEL$TTE

Sectors16h ago

Sector Update: Financial Stocks Retreat Late Afternoon

Financial stocks were lower in late Friday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.8%.The Philadelphia Housing Index rose 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.6%.Bitcoin (BTC-USD) was falling 1.8% to $79,763, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.784%.In economic news, total nonfarm payrolls rose by 162,000 last month, the Bureau of Labor Statistics said Friday, compared with a 55,000 increase projected in a Bloomberg-compiled survey.The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September jumped to 60% after midday from 49% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.President Donald Trump called on the Federal Reserve to lower interest rates, saying the US economy is a stronger credit than it was before. In a post on Truth Social, Trump said job growth exceeded estimates and argued that a "strong country means a lower interest rate."In corporate news, Blue Owl Capital (OWL) is planning to create a real estate investment trust for data centers and seek a public listing, Bloomberg reported. The REIT would be seeded with $6.5 billion of Blue Owl's existing data-center assets and then raise money through an IPO and additional share sales to expand the portfolio, the report said. Blue Owl shares were down 1%.Equifax (EFX), Experian and TransUnion (TRU) "have been overcharging Americans for far too long," US Federal Housing Finance Agency Director Bill Pulte said late Thursday on X, adding that his agency is considering solutions to prevent the companies from taking advantage of American consumers. Equifax shares dropped 6.5%, and TransUnion fell 5.8%.Deutsche Bank (DB) led an effort to provide about $950 million of credit to properties owned by troubled Hollywood studio landlord Hackman Capital Partners, which is now in default, the Financial Times reported. Deutsche shares were down 0.5%.Robinhood's (HOOD) blockchain-based transaction fees, known as chain revenue, are surging and are on track to surpass a $100 million annualized run rate, Deutsche Bank said in a note. Deutsche raised its price target to $135 from $115 while keeping its buy rating. Shares were shedding 1.9%.

$DB$EFX$HOOD$OWL$TRU

Sectors16h ago

Sector Update: Healthcare Stocks Decline Late Afternoon

Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index falling 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 1.1%.The iShares Biotechnology ETF (IBB) was down 1%.In corporate news, Bristol Myers Squibb (BMY) told regulators, researchers and patient groups in early June that it had paused trials of its CAR-T treatment zola-cel in autoimmune disorders over potentially life-threatening side effects, The Wall Street Journal reported. Bristol Myers Squibb shares were falling 2%.Novo Nordisk's (NVO) charitable foundation and its Quantum Foundry Copenhagen company are planning to set up a new 5,300 square meter quantum chip production facility in Copenhagen, the organizations said. Novo shares were down 2.2%.Immuron (IMRN) shares surged 57% after it said Friday it has signed an exclusive distribution agreement with Sweden's Calmino Group to launch PROIBS, a digestive-health medical device used for abdominal pain and bloating.Tarsus Pharmaceuticals (TARS) shares rose past 9% after the company said it has completed its acquisition of retinal disease-focused biotech Alkeus Pharmaceuticals.

$BMY$IMRN$NVO$TARS

Sectors17h ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%.The Philadelphia Semiconductor Index climbed 2.6%.In sector news, Abu Dhabi's AI firm G42 has held talks over potentially selling a majority stake to US companies, in a bid to secure access to advanced AI chips beyond 2027, Bloomberg reported. G42 will be able to buy AI chips without a US license until around April 2027, but it will need to modify its corporate structure to keep buying those chips, Bloomberg reported, adding that proposals being considered include selling a majority stake to a US firm or establishing a new vehicle in the US.In corporate news, AI cloud computing firm Nscale is looking to sell up to $1.5 billion of convertible notes to a group of investors ahead of its planned initial public offering, Bloomberg reported. The UK-based company is also trying to secure about $2 billion in financing from Nvidia (NVDA), the report said. Separately, Nvidia has increased its equity investments more than ten-fold in the past year to $99 billion, as of July 26, CNBC reported. Nvidia shares were up 0.7%.United Microelectronics (UMC) shares rose 4% after the company reported sales of 25.04 billion New Taiwan dollars ($790.6 million) in August, up 30.71% from a year earlier.Apple's (AAPL) initial production of its long-awaited foldable iPhone is limited to a few hundred units per day, mainly because of stringent quality-control requirements, Nikkei Asia reported. Apple shares were down 2%.Zscaler (ZS) fell 5.4% even as the cloud security company reported fiscal fourth-quarter results above Wall Street's consensus and outlined a strong full-year outlook. The company's guidance is conservative and reflects factors including an expected loss of Red Canary's customers and the competitive AI security environment, Oppenheimer said in a note.UiPath (PATH) shares dropped 16% after the software company released its latest quarterly results late Thursday.

$AAPL$NVDA$PATH$UMC$ZS

Wire17h ago

Update: Trade Desk Shares Fall After Company Announces 15% Workforce Cut

(Updates with the latest stock move in the headline and first paragraph.)Trade Desk (TTD) shares fell 4.9% in Friday trading after the company announced plans to reduce its workforce by 15%, with most of the cuts expected to be completed during Q3.The company expects to incur $39 million to $51 million in charges related to employee severance and benefit costs, partially offset by a reversal of $4 million to $5 million related to stock-based compensation, Trade Desk said in a regulatory filing.The company said it may incur additional charges or cash expenditures not currently anticipated as it implements the plan.Price: $14.35, Change: $-0.74, Percent Change: -4.94%

$TTD

US Markets17h ago

DocuSign IAM Platform Needs to Show Clearer Proof of 'More Meaningful' Contribution to Growth, Morgan Stanley Says

DocuSign's (DOCU) latest results showed progress in Intelligent Agreement Management, or IAM, though the platform needs to offer a clearer proof of "more meaningful" contribution to the company's overall growth, Morgan Stanley said in a note e-mailed Friday.Late Thursday, the electronic signature company reported fiscal second-quarter results above Wall Street's views and raised its full-year annual recurring revenue, or ARR, growth and sales outlook. The artificial intelligence-native IAM platform represented 15.1% of total ARR as of July 31, compared with 12.6% as of April 30."Our (second-quarter) performance builds on a strong start to fiscal 2027, balancing operational efficiency with ongoing IAM platform expansion," DocuSign Chief Financial Officer Blake Grayson said on an earnings conference call, according to a transcript available on the company's website. "We remain encouraged by growing IAM adoption as we drive more value and efficiency for our customers."Although the company's latest print and guidance showed "incremental" progress by IAM, more clarity is needed around the platform's true potential, Morgan Stanley said in a note to clients."We remain equal-weight and would look for clearer evidence of more meaningful IAM contribution to consolidated growth, alongside more tangible disclosure on IAM monetization and incrementality, before becoming more constructive," the brokerage said.Morgan Stanley raised its price target on the DocuSign stock to $75 from $69.The company's shares were up 3.1% in Friday late-afternoon trade. The stock has dropped 0.6% so far in 2026."While the qualitative commentary about IAM's progress is encouraging, management still did not quantify IAM pricing uplift or how much IAM is driving truly incremental spend versus migration from legacy eSignature," Morgan Stanley wrote.DocuSign expects the IAM platform to represent 18% to 19% of total ARR exiting its fourth quarter, it said late Thursday.Last month, Dropbox (DBX) reported better-than-expected second-quarter results. The company owns Dropbox Sign, a provider of e-signature workflows.Adobe (ADBE), which offers the Acrobat Sign service, is scheduled to report results Thursday.Price: $67.80, Change: $+1.83, Percent Change: +2.77%

$ADBE$DBX$DOCU

US Markets17h ago

Diesel Prices Soar to Record Amid Tight Crude Supply

Diesel prices in the US reached an all-time high on Friday amid crude supply disruptions, likely adding to concerns around sticky inflation.The average diesel price rose to $5.85 per gallon from $5.7832 on Thursday and $3.7121 a year ago, according to data from AAA, a travel organization that tracks fuel prices in the world's biggest economy.That surpassed the previous record of $5.82 in June 2022, months after Russia invaded Ukraine, GasBuddy, which also provides fuel price data, said Friday.Crude oil prices were on track for weekly gains of more than 9% on Friday as hostilities between the US and Iran flared up this week, raising concerns that crude shipments via the Strait of Hormuz will remain disrupted."While gasoline prices often dominate headlines, diesel can have a much broader impact on inflation and business costs," GasBuddy said in a statement. "Diesel powers much of the US economy, including freight trucks, trains, agricultural equipment, and construction machinery. As diesel prices rise, transportation costs increase, often leading to higher prices for consumer goods and services."In California, diesel sold at an average of $7.7094 per gallon, AAA data showedRegular gas prices averaged $4.1474 per gallon in the US on Friday, compared with $4.1436 the day before and $3.2016 a year ago, AAA data showed.Annual inflation, as measured by the Federal Reserve's preferred personal consumption expenditure index, held steady at 3.7% in July, data released late last month showed. That's well above the Fed's 2% target.US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," University of Michigan said last week."The combination of limited flows in the (Strait of Hormuz) from the US-Iran war, increasing drone strikes on Russia refineries from Ukraine, and a steepening cost curve from rising European natgas have all contributed to the global diesel shortage and rising margins," TPH Research analyst Matthew Blair said in a note e-mailed toThursday.

Wire17h ago

Update: Quanex Building Products Shares Rise After Q3 Beat

(Updates with recent stock movement in the headline and the first paragraph.)Quanex Building Products (NX) shares rose nearly 18% in Friday trading, a day after the company reported fiscal Q3 adjusted earnings and revenue that topped analysts' estimates.The company posted fiscal Q3 adjusted earnings of $0.79 per diluted share, up from $0.69 a year earlier.Four analysts polled by FactSet expected $0.66.Revenue for the quarter ended July 31 was $501.8 million, up from $495.3 million a year earlier.Four analysts expected $497.5 million.Price: $22.12, Change: $+3.36, Percent Change: +17.88%

$NX

Sectors17h ago

Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.3%.In sector news, President Donald Trump said Friday in the Oval Office he is creating a program through which ranchers and farmers can "process their own food," Bloomberg reported. The president said he would sign an executive order to create the initiative, the report said.In corporate news, Lululemon Athletica (LULU) shares were falling past 17% after the athletic apparel retailer lowered its full-year outlook amid challenging market dynamics and continued pressure on the brand.Tesla (TSLA) Cybercab is under investigation over its process to claim compliance with federal vehicle safety standards, the National Highway Traffic Safety Administration said Thursday. Tesla began commercial use of a small number of Cybercabs in Austin, Texas, but the vehicles lack permanently attached conventional manual controls, the agency said. Tesla shares were down 5.7%.American Outdoor Brands (AOUT) shares surged 41% after it swung to a profit and posted higher revenue for fiscal Q1 late Thursday.Stanley Black & Decker (SWK) shares added 0.9% after it said Friday it has agreed to sell its Excel Industries business to Bad Boy Mowers. Excel is expected to generate about $300 million revenue in 2026, Stanley said.Stellantis (STLA) is in talks with China's Huawei and JAC Group for long-term industrial cooperation on its luxury brand Maserati, Reuters reported. Italian daily Milano Finanza first reported the talks Friday, saying that the discussions were at an advanced stage and centered on using Huawei's Harmony Intelligent Mobility platform for Maserati, the report said. Stellantis shares were up 1.4%.

$AOUT$LULU$STLA$SWK$TSLA

Wire17h ago

Belite Bio Shares Rise After Canaccord Initiates Coverage With Buy Rating

Belite Bio (BLTE) shares rose 10% in Friday trading after Canaccord Genuity initiated coverage of the stock with a buy rating and a price target of $303.Intraday trading topped 510,150 shares, compared with the daily average of 188,179.Price: $188.98, Change: $+17.89, Percent Change: +10.46%

$BLTE

Sectors17h ago

Sector Update: Energy

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index decreasing 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index was falling 1.2%, and the Dow Jones US Utilities Index was up 0.1%.Front-month West Texas Intermediate crude oil rose 0.1% to $91.40 a barrel, and the global benchmark Brent crude contract added 0.7% to $96.17 a barrel. Henry Hub natural gas futures advanced 1.1% to $2.95 per 1 million BTU.In corporate news, BP's (BP) "turnaround" is gaining momentum as stronger commodity conditions, asset sales and cost cutting are expected to accelerate debt reduction and improve the company's balance sheet, RBC Capital Markets said in a note, after hosting a session with BP CFO Kate Thomson. BP shares were up 0.7%.

$BP

Wire17h ago

Update: Tarsus Pharmaceuticals Shares Rise After Closing Alkeus Pharmaceuticals Acquisition

(Updates with the latest stock price movement in the headline and first paragraph.)Tarsus Pharmaceuticals (TARS) shares rose 8.3% in Friday afternoon trading after the company said it has completed its acquisition of retinal disease-focused biotechnology company Alkeus Pharmaceuticals.Tarsus said that with the completion of the acquisition, it adds worldwide rights to ALK-001, a differentiated late-stage oral investigational medicine aimed at targeting the underlying biology of Stargardt's disease.Price: $91.31, Change: $+8.11, Percent Change: +9.74%

$TARS

Sectors17h ago

Sector Update: Healthcare

Healthcare stocks were lower late Friday afternoon, with the NYSE Healthcare Index falling 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 1.1%.The iShares Biotechnology ETF (IBB) was down 1%.In corporate news, Sonida Senior Living (SNDA) shares rose 0.4% after Baird upgraded the stock to outperform from neutral and raised its price target to $43 from $37.

$SNDA

Sectors17h ago

Sector Update: Financial

$OWL

Oil & Energy17h ago

Market Chatter: Iraq Moves to Secure Tankers as It Steps Up Crude Export Efforts

Iraq is seeking multiple tankers to move crude through the Strait of Hormuz as Baghdad seeks export options, Reuters reported Friday, citing a government spokesman.The government has begun the tanker-hiring process through the state-run Iraqi Oil Tankers Company following cabinet approval, the report said. It did not identify the companies involved.Iraq could use the vessels to collect crude in the Gulf of Oman, where regional producers increasingly sell barrels for pickup, the report said. Iraq's Ministry of Oil and Iraqi Oil Tankers Company did not immediately reply 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.)

Sectors17h ago

Sector Update: Tech

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%.The Philadelphia Semiconductor Index climbed 2.6%.In corporate news, AI cloud computing firm Nscale is looking to sell up to $1.5 billion of convertible notes to a group of investors ahead of its planned initial public offering, Bloomberg reported. The UK-based company is also trying to secure about $2 billion in financing from Nvidia (NVDA), the report said. Nvidia shares were up 0.7%.

$NVDA

Sectors17h ago

Sector Update: Consumer

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.3%.In corporate news, Stellantis (STLA) is in talks with China's Huawei and JAC Group for long-term industrial cooperation on its luxury brand Maserati, Reuters reported. Italian daily Milano Finanza first reported the talks Friday, saying that the discussions were at an advanced stage and centered on using Huawei's Harmony Intelligent Mobility platform for Maserati, the report said. Stellantis shares were up 1.4%.

$STLA

Wire17h ago

Fair Isaac, Equifax, TransUnion Shares Fall After FHFA Director Bill Pulte's Criticism on Credit Bureaus

Equifax (EFX), Fair Isaac (FICO), and TransUnion (TRU) shares fell on Friday after Federal Housing Finance Agency Director Bill Pulte criticized credit bureaus of overcharging American consumers.Pulte said in a post on X on Thursday that Equifax, Experian and TransUnion "have been overcharging Americans for far too long," adding that the FHFA is "seriously considering bi-merge, and stronger solutions (SAFER and SOUNDER)."He said the agency "will not allow companies to take advantage of American consumers."Equifax shares declined 7% and TransUnion was down over 6%, while Fair Isaac shares fell 16% in Friday trading.Price: $175.21, Change: $-13.88, Percent Change: -7.34%

$EFX$FICO$TRU

Wire17h ago

HP Introduces AI-Focused OmniBook Laptops, OmniDesk Computer

HP (HPQ) said Friday it has unveiled the artificial intelligence-focused OmniBook Ultra 16, OmniBook X 14, and OmniDesk personal computers, powered by Nvidia's (NVDA) RTX Spark and Microsoft (MSFT) Windows.The hardware manufacturer built the new device portfolio for software developers and digital creators by adding localized AI processing capabilities, high-resolution OLED displays, and advanced thermal management architectures, the company said.The technology firm plans to release the two laptops through its direct online channels and commercial retailers this fall while withholding pricing specifics and exact desktop launch schedules until a later date, HP said.Price: $32.49, Change: $+0.56, Percent Change: +1.74%

$HPQ$MSFT$NVDA

Insider Trading17h ago

Flexsteel Industries Insider Sold Shares Worth $323,398, According to a Recent SEC Filing

Michael Scott Culbreth, Director, on September 03, 2026, sold 4,000 shares in Flexsteel Industries (FLXS) for $323,398. Following the Form 4 filing with the SEC, Culbreth has control over a total of 9,734 common shares of the company, with 9,734 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/37472/000003747226000089/xslF345X05/form4.xmlPrice: $81.97, Change: $+1.60, Percent Change: +1.99%

$FLXS

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Sectors16h ago

Sector Update: Financial Stocks Retreat Late Afternoon

$DB$EFX$HOOD$OWL$TRU