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US Treasury Closing Levels

3:00 Tuesday vs 3:00 Monday2yr 99-26 vs 99-21; 4.273% vs 4.318%5yr 100-02 vs 98-25+; 4.359% vs 4.397%10yr 98-18+ vs 98-04+; 5.111% vs 5.149%30yr 98-17 vs 98-02+; 5.093% vs 5.125%2/10 32.747 bps vs 32.045 bps5/30 73.180 bps vs 72.620 bps

Commodities10d ago

HF Sinclair Beats Q2 Estimates on Refining Strength, Plans Lubricants Spin-Off, TPH Says

HF Sinclair (DINO) Q2 earnings beat estimates, buoyed by stronger-than-expected refining capture rates and robust performance in its lubricants and renewable diesel segments, TPH Energy strategists said in a note on Tuesday.TPH analysts said that the independent refiner posted adjusted earnings of $5.31 per share for the quarter, outpacing the $4.51 consensus estimate. Its adjusted EBITDA came in at $1.48 billion, compared with the consensus expectation of $1.22 billion.Refining earnings improved substantially quarter-over-quarter to $1.02 billion, bolstered by gross margins of $25.95 per barrel and an estimated capture rate of 91%, up from 85% in the previous quarter. Total sales volume reached 669,000 barrels per day.TPH said that alongside the quarterly results, HF Sinclair announced it is pursuing a tax-free spin-off of its lubricants business by H1 2027. The lubricants unit has generated $431 million in EBITDA over the past 12 months.Furthermore, the lubricants segment itself contributed $207 million in quarterly EBITDA, supported by surging base oil cracks and a $46 million FIFO benefit, despite sales volumes easing to 32,000 barrels per day.Meanwhile, the renewables segment posted $123 million in EBITDA, reflecting strong profitability of $2.05 per gallon on a total run rate of 60 million gallons.Marketing segment volumes rose 19% year-over-year to 387 million gallons, supported by new store growth, though EBITDA margins trimmed to 7 cents per gallon. Midstream performance remained flat at $112 million.On the capital return front, HF Sinclair repurchased $175 million of shares during the quarter and raised its forward dividend by 5%. Together with its dividend distribution, the total capital return yield reached 9%.Going forward, HF Sinclair noted that its refining indicator has climbed about $4.30 per barrel quarter-over-quarter heading into Q3, supported by strength in the Mid-Continent region.TPH said that consensus analyst estimates for third-quarter earnings stand at $4.69 per share.Price: $90.71, Change: $-0.07, Percent Change: -0.08%

$DINO

Wire10d ago

International Paper Shares Rise After JPMorgan Upgrade

International Paper (IP) shares rose 3.6% in Tuesday trading after JPMorgan upgraded the stock to overweight from neutral and raised the price target to $61 from $51.Trading volume stood at about 4 million shares, compared with a daily average of 6.4 million.Price: $43.94, Change: $+1.53, Percent Change: +3.60%

$IP

Wire10d ago

Federal Signal Keeps Quarterly Dividend at $0.15 per Share, Payable Aug. 27 to Shareholders of Record Aug. 14

$FSS

Wire10d ago

Capricor Therapeutics Shares Fall After B. Riley, Roth Capital Downgrades

Capricor Therapeutics (CAPR) shares fell about 12% on Tuesday after B. Riley and Roth Capital downgraded the stock to neutral from buy.B. Riley cut its price target to $10 per share from $63, while Roth Capital lowered its target to $7 per share from $38.Trading volume stood at over 11.5 million shares, compared with a daily average of more than 1.8 million.Price: $6.18, Change: $-0.81, Percent Change: -11.61%

$CAPR

Wire10d ago

Capitol Federal Financial Keeps Quarterly Dividend at $0.085 per Share, Payable Aug. 21 to Holders of Record Aug. 7

$CFFN

Wire10d ago

RXO Shares Fall After TD Cowen Downgrade

RXO (RXO) shares were down about 6% in Tuesday trading after TD Cowen downgraded the stock to sell from hold and cut its price target to $19 from $24.Intraday trading volume stood at about 2 million shares against a daily average of roughly 2.3 million shares.Price: $22.68, Change: $-1.43, Percent Change: -5.93%

$RXO

Wire10d ago

Update: BuzzFeed Shares Rise After Announcing a 35% Workforce Reduction to Cut Costs

(Updates with the latest stock price movement in the headline and first paragraph.)BuzzFeed (BZFD) shares were up 7.5% in Tuesday trading after its board approved a plan to cut about 35% of its workforce and dedicated contractors to lower costs and support profitability and positive cash flow.The company expects to record $6.5 million to $8.5 million in restructuring charges, primarily in Q3, with most cash payments to be made by the end of Q4.BuzzFeed said the restructuring is expected to generate $29 million to $32 million in annualized savings, beginning primarily in Q3.Price: $1.22, Change: $+0.09, Percent Change: +7.52%

$BZFD

Wire10d ago

MPLX Keeps Quarterly Distribution at $1.0765 a Unit, Payable Aug. 14 to Holders of Record as of Aug. 7

$MPLX

Wire10d ago

Johnson Controls International Introduces Absorption Chiller Reference Design Guide for Data Centers

Johnson Controls International (JCI) has introduced an absorption chiller reference design guide to help data center operators capture waste heat from on-site power generation and convert it into cooling for artificial intelligence workloads, the company said Tuesday.The framework allows gigawatt-scale facilities to add up to 97 megawatts of computing capacity without expanding power generation, the company said.The modular architecture reduces cooling-related carbon dioxide emissions and increases power usage effectiveness without on-site water consumption, Johnson Controls added.Price: $139.71, Change: $-3.68, Percent Change: -2.57%

$JCI

US Markets10d ago

May Annual Home Price Growth Accelerates as Affordability Woes Persist, S&P Says

US home price growth accelerated annually in May, though values dropped in real terms for a 12th straight month amid continued affordability headwinds, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday.The national S&P Cotality Case-Shiller Index rose 1.1% year over year in May without seasonal adjustments, up from a 0.9% gain the month prior. The 10- and 20-city composites advanced 2.4% and 1.6%, respectively. The two measures accelerated from April's growth rates of 1.8% and 1.2%, respectively."May's data suggests that US home prices continue to decline in real terms," said Rebecca Kaufman, associate director of commodities at S&P Dow Jones Indices. "At the same time, inflation peaked at 4.2% in May, its highest level in over three years."Chicago logged the highest annual price gain for a third consecutive month among the 20 cities, rising 6.9% in May. New York and Cleveland were next on the list. Las Vegas posted the lowest return of a 1.9% drop, the data showed.Sequentially, pre-seasonally adjusted national home prices increased 0.6% in May, compared with 0.8% growth the month prior. The 10- and 20-city composite indexes were up 0.9% each in May. In April, the two composites advanced 1% each, the report showed.Persistent inflation and 30-year mortgage rates reaching 6.5% in May continued to weigh heavily on housing affordability, Kaufman said. "Against this backdrop, housing demand remains constrained, elevated borrowing costs continue to discourage potential homebuyers, and housing values decline in real terms for existing homeowners."Separately, the Federal Housing Finance Agency said US home prices increased 0.3% sequentially in May, following a 0.1% drop the previous month. Annually, prices rose 2.2% in May, according to the report.Earlier this month, Redfin.com said US housing payments in June rose for the first time in eight months as home prices hit a record high and mortgage rates remained elevated.Price: $428.03, Change: $-11.80, Percent Change: -2.68%

$SPGI

Commodities10d ago

Gibson Energy Reports Record Infrastructure EBITDA as Throughput Improves, TPH Says

Gibson Energy increased throughput across key assets and delivered record infrastructure earnings in Q21, while stronger marketing margins lifted overall results, TPH Energy Research said in a Tuesday note.Higher throughput at the Gateway and Edmonton terminals, the initial contribution from the Chauvin Infrastructure Assets, and ongoing restructuring benefits lifted infrastructure adjusted EBITDA to a record CA$169 million ($119.8 million), TPH said.Infrastructure adjusted EBITDA increased CA$17 million from a year earlier and came in slightly above TPH's and the Street's CA$168 million estimates, the report added.Gibson completed the CA$400 million Chauvin acquisition in May and approved the Hardisty Connection project.The marketing segment generated adjusted EBITDA of CA$15 million, topping TPH's CA$6 million estimate and the Street's CA$7 million forecast. TPH attributed the outperformance to stronger crack spreads and improved refined product margins.Adjusted EBITDA reached CA$169 million, exceeding TPH's CA$157 million estimate and matching a beat versus the Street's CA$157 million forecast. TPH said stronger marketing performance accounted for the entire upside.Distributable cash flow totaled CA$96 million, above TPH's and the Street's CA$88 million estimates.In July, the company also issued CA$400 million of 4.45% senior unsecured notes due 2034, which management said achieved the tightest credit spread across any tenor in the company's history.Net income increased CA$22 million from a year earlier to CA$83 million, supported by stronger operating performance and lower taxes. Higher general and administrative expenses, Chauvin acquisition costs and unrealized corporate mark-to-market partially offset the gain.General and administrative expenses totaled CA$16 million, below management's guided quarterly run rate of CA$17 million-CA$18 million, TPH said.Net debt to adjusted EBITDA stood at 4.2x, while the trailing 12-month dividend payout ratio measured 88%. Management expects both metrics to normalize as the Chauvin assets contribute over a full year, TPH Energy added.

Wire10d ago

Update: Nucor Shares Rise After Q2 Beat

(Updates with the latest stock move in the headline and in the first paragraph.)Nucor (NUE) shares were up 5.7% in Tuesday trading after the company reported better-than-expected Q2 results late Monday.The company posted quarterly adjusted earnings of $4.84 per diluted share, up from $2.68 a year earlier.Analysts polled by FactSet expected $4.46.Revenue for the 13 weeks ended July 4 was $10.40 billion, up from $8.46 billion a year earlier.Analysts expected $10.15 billion.For Q3, the company said it expects higher consolidated earnings than Q2.Price: $261.99, Change: $+14.13, Percent Change: +5.70%

$NUE

Wire10d ago

Cintas Raises Quarterly Dividend to $0.52 a Share From $0.45, Payable on Sept. 15 to Shareholders of Record as of Aug. 14

$CTAS

Wire10d ago

Levi Strauss Shares Lower After Wells Fargo Downgrade

Levi Strauss & Co (LEVI) shares were down over 1% in Tuesday trading after Wells Fargo downgraded the stock to equal weight from overweight.Trading volume stood at more than 1.7 million shares, compared with a daily average of about 2.8 million.Price: $25.18, Change: $-0.35, Percent Change: -1.37%

$LEVI

International10d ago

FOMC Seen Holding Rates Steady at July Meeting as Divisions Remain, Minimal Forward Guidance

The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting as uncertainty remains elevated, though the outcome is less certain than for the previous meeting.Currently, the CME's FedWatch Tool sees a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following Wednesday's meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET. There will be no update to the Summary of Economic Projections at this week's meeting.The statement from the previous meeting, the first under Warsh's leadership, was significantly shorter than it had been for several years and Warsh's comments after the meeting showed that the age of substantial forward guidance has passed.However, the updated Summary of Economic Projections and the minutes of that meeting did indicate the concerns about inflation had been the key topic of discussion at the meeting and that there was shift toward the need for rate increases for some members.In testimony on Capitol Hill on July 14 and July 15, Warsh said that the FOMC has "no tolerance" for elevated inflation and is focused on restoring price stability, suggesting that the heightened inflation of the last five years will be "a thing of the past" if policy is done right.June consumer price data released on July 14 showed a decline in the overall price level, due in large part to falling gasoline prices, and a flat reading for core prices, slowing the year-over-year rates but leaving them well above the 2% target.Warsh said during his testimony that the June CPI was just one data point and that the FOMC's top job now is assuring that short-term inflation does not become sticky and longer lasting.New York Fed President John Williams said on July 15 that economic growth is solid and the labor market is stable but noted that inflation remains above the Fed's 2% goal and needs to be brought down. He added that the stance of monetary policy is "well positioned" to deal with inflation, which he expects to slow in coming quarters.However, some FOMC members are not convinced that the current stance of policy is adequate to deal with inflation. Dallas Fed President Lorie Logan, a voter on the FOMC this year, said on July 16 that the federal funds rate may need to be raised due to inflation that has been elevated for an extended period and is showing few signs of moving back to the Fed's 2% target.As a result, it is possible that there could be one or more dissenting votes at this meeting as some voters voice their preference for a rate increase.Currently, there is an 89.2% chance being priced in for at least one rate increase by the end of 2026, with some outliers seeing as many as three to four rate hikes.

International10d ago

Daily Roundup of Key US Economic Data for July 28

The Conference Board's Consumer Confidence Index fell to 90.8 in July from a 92.2 reading in June due to a drop in the present situation while the expectations index was unchanged from the previous month.The Conference Board noted deterioration in current assessment of both business conditions and employment conditions.Advance data for June showed the international trade deficit narrowed to $101.46 billion from $105.89 billion in May, reflecting a larger drop in imports than in exports.In the same report, wholesale inventories rose by 0.3% in June after a 0.3% gain in May, while retail inventories were flat after a 0.5% gain. Excluding motor vehicle sales, retail inventories would be up 0.4%.The FHFA home price index posted a 0.3% gain in May after a 0.1% decrease in April. The index was 2.2% higher than a year ago.Released at the same time, S&P Case-Shiller reported a 0.6% May home price gain, down from 0.8% in April. The index was up 1.1% year-over-year, up from the 0.9% rate in the previous month.The Dallas Fed's services reading rose to 6.6 in July from 2.9 in June, while the Richmond services reading fell to minus 3 from 0.The Richmond Fed's manufacturing index rose to 5 in July from 4 in June.Redbook reported that US same-store retail sales were up 8.3% year-over-year in the week ended July 25, faster than a 7.8% gain in the prior week. Redbook noted that sales are following the typical pattern of less interest in shopping in mid-July, with a likely rebound over the next few weeks as back-to-school items support spending.The Q2 GDP nowcast estimate from the Atlanta Fed is for a 1.5% gain, revised down from 1.6% in the previous estimate.

Sectors10d ago

September WTI Crude Oil Contract Closes Down $3.35, or 4.1%, Settles at $79.26 per Barrel. September Brent Oil Last Seen Down $4.46, or 5.1%, at $83.90

$CLU6$LCOU6$USO

Wire10d ago

Update: Sherwin-Williams Shares Rise After Q2 Results

(Updates with latest share movement in paragraph 1 and headline)Sherwin-Williams (SHW) shares were up over 8% in Tuesday trading following its Q2 results.Earlier, the company reported a Q2 adjusted net income of $3.70 per diluted share, up from $3.38 a year earlier.Analysts polled by FactSet expected $3.52.Net sales for the quarter ended June 30 were $6.79 billion, compared with $6.315 billion a year earlier.Analysts expected $6.60 billion.The company said it expects Q3 net sales to grow by mid to high-single digit percentage from a year earlier. Analysts polled by FactSet expect $6.65 billion.For 2026, Sherwin-Williams raised its guidance and now expects adjusted EPS of $11.80 to $12.20, compared with its prior outlook of $11.50 to $11.90. Analysts expect $11.76.Full-year net sales are now expected to grow in the mid- to high-single-digit percentage range, compared with low to mid-single-digit percentage range previously. Analysts expect $24.72 billion.Price: $355.05, Change: $+27.78, Percent Change: +8.49%

$SHW

Wire10d ago

SNDL Shares Fall After Q2 Swings to Adjusted Operating Loss, Revenue Declines

SNDL (SNDL) shares fell more than 10% in Tuesday afternoon trading after the company swung to an adjusted operating loss and posted lower revenue in Q2.The company reported a Q2 adjusted operating loss of 7 million Canadian dollars ($5 million), swinging from a profit of CA$5.8 million a year earlier.Net revenue for the quarter ended June 30 was CA$235.8 million, down from CA$244.8 million a year earlier.Two analysts polled by FactSet expected CA$236.2 million.Price: $1.21, Change: $-0.14, Percent Change: -10.37%

$SNDL

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International10d ago