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Market Chatter: Iran Proposes Safe Exit Route via Oman Waters in Hormuz Standoff

Iran is signaling a potential breakthrough in its maritime standoff with the US, offering to allow vessels safe passage through Omani waters in the Strait of Hormuz if a broader deal to avert renewed conflict is reached, Reuters reported on Wednesday, citing industry sources.The Middle East conflict has triggered the biggest disruption to global oil and gas flows on record, after Iran blocked the Hormuz, a strategic waterway that handles about 20% of the world's oil and liquefied natural gas flows.The conflict, which erupted on Feb. 28, has left hundreds of vessels and an estimated 20,000 seafarers stranded within the Arabian Gulf, the report said.Though President Trump struck an optimistic tone on Wednesday, suggesting that the war is close to over, control over the Strait remains a key issue in negotiations.Iran's Foreign Ministry did not immediately respond to' request for comment.Iran may be open to allowing ships to transit through the Omani side of the Hormuz without interference, a move that could ease tensions in the strategic waterway.The proposal, however, depends on whether the US is willing to meet Iran's demands, a condition seen as pivotal to any broader breakthrough over the waterway.The proposition marks a Pivot from Tehran's recent threats to impose a unilateral toll on vessels and assert sovereignty over the strategic chokepoint, which the global shipping industry warned would violate long-standing maritime conventions.The shift comes as member states of the UN's International Maritime Organization gathered in London this week to formally oppose the prospect of an Iranian transit tax.The IMO warned that allowing a nation to charge for passage through an international waterway would set a "dangerous precedent" for global trade.(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.)

Wire146d ago

Earnings Flash (JBHT) J.B. Hunt Transport Services Posts Q1 EPS $1.49, vs. FactSet Est of $1.45

$JBHT

Sectors146d ago

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.4%, and the Dow Jones US Utilities Index was shedding 0.9%.In sector news, President Donald 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.Front-month West Texas Intermediate crude oil shed 0.3% to $90.98 a barrel, and the global benchmark Brent crude contract was steady at $94.79 a barrel. Henry Hub natural gas futures increased 0.5% to $2.61 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined 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, ReNew Energy Global (RNW) shares rose 2.4% after the firm said Wednesday it has commissioned roughly 2.4 gigawatts of assets in fiscal 2026, bringing its total operating capacity to about 12.6 GW.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 3.2%.NOV (NOV) shares fell 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.

$EQNR$NOV$RNW$SR

Commodities146d ago

US Biofuels Update: Futures Rise on US-China Sentiment, Record Crush Data

Biofuels feedstock futures closed higher on Wednesday as the soybean and corn futures recovered from selling pressure to begin the week.The Chicago Board of Trade May soybean futures contract closed 0.78% higher at $11.67 per bushel and the CBOT May soybean oil futures contract settled 1.75% higher at 67.60 cents per pound.On Tuesday, the May ethanol futures contract on Nymex ended 0.52% lower at $1.92 per gallon.Rhett Montgomery, DTN analyst, said soybean traders liked what they heard from President Trump about China and its unwillingness to supply Iran with weapons."The soybean market got a boost on Wednesday morning after President Trump said that China had agreed not to supply weapons to Iran," Montgomery stated in a daily note.He added that the potential for a fallout of US-China relations had caused anxiety within the market to begin the week, especially when Trump threatened tariff action against China if they were to materially support IranThe National Oilseeds Processors Association reported on Wednesday that the US soybean crush for March totaled 226.2 million bushels, the second-highest monthly total ever. This suggests total US crush will fall near 232 mb when the US Department of Agriculture releases its next Fats and Oils report in early May, Montgomery noted.If realized, cumulative crush for the marketing year to date, from September through March, would be 8.9% ahead of the same point in 2025.Soybean oil stocks, as of March, totaled 2.03 billion pounds, reaching a 13-year high, NOPA reported.

Japan146d ago

S&P 500 Index Touches All-Time High Amid Reports of Iran Truce Extension

Sectors146d ago

Sector Update: Financial Stocks Mixed Late Afternoon

Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index was falling 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.1%.Bitcoin (BTC-USD) was rising 1.5% to $75,233, and the yield for 10-year US Treasuries increased 2.5 basis points to 4.28%In economic news, the New York Federal Reserve's Empire State manufacturing index rebounded to 11.0 in April from minus 0.2 in March, above the expectations for a 0.0 print in a Bloomberg-compiled survey.The National Association of Home Builders' monthly housing market index fell to 34 in April from a revised 38 in March, compared with expectations for 37 in a survey compiled by Bloomberg.In corporate news, Morgan Stanley (MS) plans to raise $10 billion in one of the largest bond sales by a Wall Street bank, following its Q1 results, Bloomberg reported. Morgan Stanley posted stronger-than-expected Q1 results as sharp gains in investment banking and trading activity helped boost revenue to a record. Its shares climbed past 4%.Bank of America's (BAC) Q1 results topped Wall Street's estimates, buoyed by double-digit gains in investment banking and asset management fees, while Chief Executive Brian Moynihan said factors including robust consumer spending indicate a resilient US economy. Its shares rose 2.2%.Pacific Investment Management said it bought the entire $400 million bond issuance from Blue Owl Capital's (OWL) business development company, signaling confidence in a volatile private credit market, Bloomberg reported. Blue Owl Capital shares jumped past 8%.Ares Management (ARES) Chief Executive Michael Arougheti said private credit defaults are relatively contained, with most of the troubles in the sector caused by a lack of liquidity and high interest rates, Reuters reported Wednesday. Ares shares climbed 6%.

$ARES$BAC$MS$OWL

Mining & Metals146d ago

Plaza Retail REIT Announces April 2026 Distribution

Plaza Retail REIT (PLZ-UN.TO) on Wednesday declared a monthly distribution of $0.02333 per unit for April, or $0.28 per unit on an annualized basis, unchanged from March's distribution.The distribution will be paid on May 15 to unitholders of record as of April 30, the REIT said.Price: $4.40, Change: $+0.08, Percent Change: +1.85%

$PLZ-UN.TO

Japan146d ago

US Equity Indexes Mixed Amid Reports Iran Ceasefire May be Extended for Peace Talks

US equity indexes traded mixed ahead of Wednesday's close amid speculation on an extension of the two-week Iran ceasefire, setting the stage for a lasting peace agreement between Washington and Tehran.The Nasdaq Composite advanced 1.5% to 23,991.7 and the S&P 500 rose 0.8% to 7,023.3. The Dow Jones Industrial Average, however, declined 0.2% to 48,453.9.The US and Iran are considering extending their two-week ceasefire to negotiate a peace deal, Bloomberg reported, citing a person familiar with the matter. Mediators are seeking technical talks to overcome the most contentious issues -- the reopening of the Strait of Hormuz and Iran's nuclear program -- preventing an agreement that would extend beyond next week, when an initial truce will expire, the person told Bloomberg.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.West Texas Intermediate crude oil futures fell 0.5% to $90.84, and Brent crude futures slipped less than 0.1% lower to $94.75. Both the WTI and Brent futures were up 1% earlier in the session.Technology, consumer discretionary, communication services, and financials led gainers in the final leg of trading. Industrials and materials were among the decliners.In company news, Morgan Stanley (MS) posted stronger-than-expected Q1 results as sharp gains in investment banking and trading activity helped boost revenue to a record.

Dow JonesNasdaq CompositeS&P 500$MS

Sectors146d ago

Sector Update: Tech Stocks Higher Late Afternoon

Tech stocks advanced late Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.7%.The Philadelphia Semiconductor index fell 0.3%.In corporate news, Alphabet (GOOGL) is poised for a windfall worth more than $100 billion from its early investment in SpaceX, Bloomberg reported. Alphabet shares rose 1.1%.Snap (SNAP) plans to lay off about 1,000 employees, or 16% of its full-time workforce, as part of efforts to reduce costs. Snap shares jumped 7.4%.Broadcom (AVGO) shares rose 3.8% after the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's AI compute infrastructure. Meta shares gained 1.7%.CoreWeave (CRWV) will receive about $6 billion from Jane Street in exchange for use of its AI cloud platform. CoreWeave shares added 1.5%.

$AVGO$CRWV$GOOGL$META$SNAP

Wire146d ago

Lincoln Educational Services Enters Amended, Restated Credit Facility

Lincoln Educational Services (LINC) said Wednesday it has entered into an amended and restated revolving credit facility, providing $65 million of additional available liquidity.The amendment boosts the aggregate principal amount to $125 million from $60 million, with a $10 million letter of credit sublimit and a $25 million accordion feature, the company said.The credit facility has a term of five years and matures on April 11, 2031, the company added.Price: $40.04, Change: $+0.20, Percent Change: +0.50%

$LINC

Sectors146d ago

Sector Update: Health Care Stocks Decline Late Afternoon

Health care stocks were lower late Wednesday afternoon, with the NYSE Health Care Index down 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) was fractionally higher.In corporate news, GSK (GSK) said Wednesday it has completed its $950 million acquisition of 35Pharma, adding an experimental pulmonary hypertension therapy to its respiratory, immunology and inflammation pipeline. GSK shares were down 2.1%.Janux Therapeutics (JANX) lacks near-term stock-moving catalysts after it came under pressure following mixed results from the phase 1a trial of JANX007 in 5L metastatic prostate cancer, UBS said in a report. UBS downgraded the stock to neutral from buy and cut its price target to $15 from $57. Janux shares fell 1.1%.GoodRx (GDRX) shares climbed up 4.3% after the firm said Wednesday it is offering Novo Nordisk's (NVO) Wegovy HD 7.2 mg injectable weight loss drug to eligible self-pay patients. Novo shares rose 3.7%.Immutep (IMMP) shares surged 73% after it said the US Food and Drug Administration has granted orphan drug designation to eftilagimod alfa to treat soft tissue sarcoma, a rare cancer.

$GDRX$GSK$IMMP$JANX$NVO

Wire146d ago

Top Cryptocurrencies Rise; Bitcoin Tops $75,000 Level

Major digital assets rose Wednesday, with Bitcoin (BTC-USD) rising above the $75,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 1.7% in the past 24 hours. The Nasdaq 100 rose 1.4%, the S&P 500 increased 0.7%, and the Dow Jones Industrial Average fell 0.1%.Bitcoin rose 1.2% to $75,116, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume decreased 36.7% to $38.1 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, climbed 2.7% to $2,373.XRP (XRP-USD) gained 3%, BNB (BNB-USD) rose 2%, and Solana (SOL-USD) increased 1.7%. Dogecoin (DOGE-USD) added 3.9%, while Cardano (ADA-USD) advanced 3.8%.The US 10-year Treasury yield stood at 4.278% at 3 p.m. ET Wednesday, up from 4.256% Tuesday, while the five-year yield rose to 3.894% from 3.871%.The total market value of the cryptocurrency industry rose 1% in the past 24 hours to $2.53 trillion, with trading volume gaining 1.6% to $154.23 billion.Price: $75094.74, Change: $+919.51, Percent Change: +1.24%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

Research146d ago

Research Alert: CFRA Initiates Coverage On Shares Of Versant Media Group, Inc. With A Sell 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 at $35, applying an EV/EBITDA multiple of 3.1x to our 2026 estimate. We set our 2026 EPS estimate at $5.80 and 2027's at $8.01. Versant operates in highly competitive and rapidly evolving media and entertainment markets that are experiencing fundamental shifts in how audiences consume content. It faces intense competition across all aspects of its business, with competitors that have significant resources, greater efficiencies of scale, and fewer regulatory burdens increasingly challenging its market position. There is ongoing secular pressure in the pay TV sector, driven by cord cutting, which continues to erode linear distribution revenue and poses long-term risks for the business. The company acknowledged ratings declines, particularly impacting advertising revenue streams, and highlighted post-election normalization as a headwind for both advertising and overall revenue. It also mentioned that a softer theatrical slate negatively affected Fandango's performance.

$VSNT

Sectors146d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.6%.In corporate news, Tesla (TSLA) has completed the tape-out of its AI5 chip and is advancing development of AI6 and Dojo3, CEO Elon Musk said on X on Wednesday. Tape-out marks the final design stage before a chip is sent to manufacturing. Tesla shares jumped past 8%.Brown-Forman (BF.A, BF.B) received a buyout offer from Sazerac for around $15 billion, The Wall Street Journal reported. Brown-Forman Class A shares rose 1% and its Class B shares added 0.9%.Stellantis (STLA) is considering reviving a partnership with Dongfeng Motor under which the companies would jointly produce cars in Europe and China, Bloomberg reported. Stellantis shares gained 1.9%.Domino's Pizza's (DPZ) Q1 results will likely miss Wall Street's estimates, with economic challenges expected to drive a downgrade to the pizza restaurant operator's same-store sales outlook for the US, RBC Capital Markets said in a note. Domino's Pizza shares were fractionally lower.

$BF.A$BF.B$DPZ$STLA$TSLA

Mining & Metals146d ago

Automotive Properties REIT Announces April 2026 Distribution

Automotive Properties Real Estate Investment Trust (APR-UN.TO) on Wednesday declared a cash distribution of $0.0685 per unit for April, equivalent to $0.822 per unit on an annualized basis and is unchanged from March's distribution.The distribution will be paid on May 15 to unitholders of record as of April 30, the REIT said.Price: $11.46, Change: $+0.08, Percent Change: +0.70%

$APR-UN.TO

Mining & Metals146d ago

Organigram Closes the 107.3-Million Acquisition of Germany's Sanity Group

Organigram Holdings (OGI.TO) on Wednesday said it closed its 107.3-million euro acquisition of Sanity Group GmbH.The cannabis company said the purchase price consisted of 78.0-million euros in cash and 29.3-million euros in shares.In connection with the closing, Organigram also closed a 40.3-million euros private placement with BT DE Investments, a subsidiary of British American Tobacco, as well as its senior secured credit facilities of up to C$60 million.Shares of the company were last seen up $0.11 at $2.09 on the Toronto Stock Exchange on Wednesday.Price: $2.09, Change: $+0.11, Percent Change: +5.56%

$OGI.TO

Sectors146d ago

Sector Update: Energy

$RNW

Wire146d ago

Sector Update: Financial

$MS

Wire146d ago

Sun Life Extends Partnership With Kansas City Royals

Sun Life (SLF) said Wednesday it renewed its partnership with the Kansas City Royals through 2030.The partnership enables Sun Life to build on previous community programming and fundraising to support local non-profits in Kansas City, according to a statement.Under the new agreement, Sun Life and the Royals will collaborate with non-profit TeamSmile that works with sports teams and universities to set up dental clinics for kids from underserved communities, according to the company.Price: $68.25, Change: $+1.12, Percent Change: +1.67%

$SLF

Sectors146d ago

Sector Update: Health Care

$GSK

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Oil & Energy146d ago