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TaskUs Stock Price Offers an Attractive Entry Point, Wedbush Says

TaskUs (TASK) stock price offers a lucrative entry point, and the company is positioned to capitalize on the expansion of artificial intelligence automation in labor, Wedbush said in a Wednesday research report.The brokerage's discussion with an AI automation expert showcased the company as an acquisition target, given its long-standing client base, industry specialization, and early entry into AI data labeling and annotation, analysts wrote.The company's AI services are benefiting from "tangible" tailwinds, with Meta Platforms' (META) acquisition of Scale AI likely driving rivals to move businesses to TaskUs, according to the note.Synergies between the company's digital customer experience, AI services, and safety divisions create "stickier" client relations underappreciated by the markets, according to Wedbush.The brokerage said it reiterated its outperform rating on the stock and price target of $14 per share.Price: $7.25, Change: $+0.47, Percent Change: +6.93%

$META$TASK

Sectors146d ago

US Total Crude Oil Stocks Fall in Week Ended April 10, Led by Drop in SPR Holdings

US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 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.Stocks in the SPR declined by 4.1 million barrels in the week after falling by 1.7 million in the previous week.Overall crude oil stocks were down 0.6% from the previous week but were still up 3.9% from a year earlier. Crude oil inventories are about 1% above the five-year average for this time of the year.Gasoline stocks fell by 6.3 million barrels, larger than the 2.0-million-barrel decrease expected. Gasoline stocks were down 2.6% from the previous week, and 0.5% lower from a year earlier.Distillate stocks fell by 3.1 million barrels in the current week, compared with an expected decrease of 2.1 million barrels. Distillate stocks were down 2.7% from the previous week but were still 2.1% higher than in the same week a year ago.Refineries operated at 89.6% of their capacity, down from 92.0% in the previous week.

Asia Markets146d ago

Asian Equities Traded in the US as American Depositary Receipts Track Higher in Wednesday Trading

Asian equities traded in the US as American depositary receipts were tracking higher Wednesday morning, rising 0.59% to 2,820.86 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by consumer lender Eason Technology (DXF) and education company 51Talk Online Education Group (COE), which rose 5.3% and 5% respectively. They were followed by fintech firm Maase (MAAS) and biopharmaceutical company Zai Lab (ZLAB), which advanced 4.3% and 4% respectively.The decliners from North Asia were led by fintech firm AMTD Digital (HKD) and online game developer The9 (NCTY), which fell 2% and 1.5% respectively. They were followed by utilities company Korea Electric Power (KEP) and electric vehicle maker NIO (NIO), which were down 1.1% and 1% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Wipro (WIT), which increased 2.9% and 2.7% respectively. They were followed by IT firms Infosys (INFY) and Sify Technologies (SIFY), which were up 1.5% each.The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories (RDY), which dropped 1.5%, followed by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which were off 0.1% each.

$COE$DXF$HKD$INFY$KEP$MAAS$NCTY$NIO$PHI$SE$SIFYRDY$TLK$WIT$ZLAB

Commodities146d ago

Update: Weekly US Crude Inventories Drop by 900,000 Barrels, EIA Says

(Updates to include additional details.)US crude stockpiles fell by 900,000 barrels to 463.8 mmbbls in the week ended Apr. 10, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories are now about 1% above the five-year average for this time of year, the EIA said.Crude oil input to refineries decreased by 208,000 barrels per day from the previous week to average about 16 mmb/d in the week ending Apr. 10. Crude oil production was unchanged at an average of 13.6 mmb/d.Commercial crude imports decreased by 1 million b/d to average about 5.3 mmb/d. Total motor gasoline stockpiles decreased by 6.3 mmbbls from last week to 232.9 mmbbls, and distillate stocks dropped by 3.1 mmbbls to 111.6 mmbbls, the agency said.

Commodities146d ago

US Weekly Ethanol Production Rose, EIA Says

US weekly ethanol production rose slightly, according to the US Energy Information Administration report on Wednesday.For the week ending Apr. 10, US ethanol production averaged 1.12 million barrels per day, unchanged from 1.12 mmb/d last week and above 1.01 mmb/d a year ago.

Wire146d ago

Market Chatter: Equinor's Danske Commodities Lays Off 5% Staff to Focus More on Technology-Based Operations

Equinor's (EQNR) Danske Commodities has decided to let go about 5% of its staff as the company shifts its focus more on technology-based trading operations, Bloomberg said Wednesday, citing an emailed statement from the company.As many as 28 employees have left the firm last month and the headcount reduction is necessary so that Danske Commodities is well-positioned for the markets of the future, the report said.Danske Commodities 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: $37.42, Change: $-0.59, Percent Change: -1.54%

$EQNR

Commodities146d ago

Weekly US Crude Inventories Drop by 900,000 Barrels, EIA Says

US crude stockpiles fell by 900,000 barrels to 463.8 mmbbls in the week ended Apr. 10, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories are now about 1% above the five-year average for this time of year, the EIA said.

Wire146d ago

Baird Adjusts Price Target on A. O. Smith to $75 From $77, Maintains Neutral Rating

A. O. Smith (AOS) has an average rating of hold and mean price target of $78.30, 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)Price: $64.30, Change: $-2.63, Percent Change: -3.93%

$AOS

Sectors146d ago

US Total Weekly EIA Crude Oil Stocks Fall by 5.1 Million Barrels After Prior 1.3 Million Increase

Commodities146d ago

Japan Refinery Runs Reportedly Down vs Pre-War Levels; Naphtha Shortage Disrupts Supply Chain

Japan's refinery runs remained well below pre-war levels at 67.8% of design capacity in the week ended Apr. 11, as Middle East crude supply persists amid the ongoing US-Iran conflict, multiple media outlets reported on Wednesday, citing industry data.Latest utilization data was reportedly in line with the prior week's 67.7%, but down significantly from pre-war levels of more than 80%.Despite government efforts to release strategic petroleum reserves and secure alternative crude oil, Japanese refiners will continue to face challenges in increasing run rates, as their facilities are designed to process mainly medium-sour Middle Eastern crude, Reuters said.Japan sources over 90% of its crude imports from the Middle East.Idemitsu Kosan told Reuters it was exploring crude purchases from other regions, but there were equipment limitations when processing non-Middle Eastern crudes.Taiyo Oil reportedly said that it can blend more than 50% of non-Middle Eastern grades, such as those from North America, Southeast Asia, and Oceania.has reached out to other Japanese refiners, Eneos and Cosmo Energy, for information on their capability to diversify their crude slate.Meanwhile, Japanese companies relying on naphtha as raw material for their products have reportedly adjusted production and delivery schedules, with some even canceling orders, due to supply shortage, according to Reuters.Toto, Asahi Kasei, and Kansai Paint were among the firms affected by supply chain disruptions.The concerns were raised despite assurances from the government that Japan's naphtha supply was sufficient for the next four months.Japan's Ministry of Economy, Trade and Industry did not immediately respond to' request for comment.

Oil & Energy146d ago

US Natural Gas Update: Futures Trade Flat Amid Ample Supplies, Subdued Near-Term Demand

US natural gas futures were flat on Wednesday, as robust supply and subdued near-term demand continued to weigh on prices.The front-month Henry Hub contract and the continuous benchmark were up 0.04% at $2.60 per million British thermal units.European natural gas futures continued to post declines amid de-escalation in the Middle East conflict, with US President Donald Trump signaling a quick resolution in the coming weeks.For US markets, however, domestic factors were the key driver, with strong output, averaging around 107.2 billion cubic feet per day over the past few days, while residential and commercial demand is down by 5.0 Bcf per day on account of lower heating demand, according to NRG Energy.US natural gas markets are broadly insulated from the Middle East conflict, since LNG facilities across the country are operating at capacity.The market is expecting a 55 Bcf net injection in storage in the Energy Information Administration's weekly report, to be released on Thursday, compared with a 50 Bcf net injection last week, according to data compiled by Investing.com.Weather forecasts remained bearish, with most parts of the country expected to experience above-normal temperatures from April 22 to April 28, weighing on natural gas demand, according to the National Weather Service.

Wire146d ago

Meta Platforms Faces EU Order to Restore Third-Party AI Assistants' Access to WhatsApp

Meta Platforms (META) faces a potential EU order to reinstate third-party AI assistants' access to WhatsApp under the same conditions that applied before its October policy change, the European Commission said Tuesday.The commission said in a statement that it reviewed Meta's revised policy, which restored access for a fee, and found the change "is in effect equivalent to the previous access ban." The move comes as part of interim measures in the EU's probe into whether Meta abused its dominant position by restricting rival AI assistants on WhatsApp.The interim measures, if imposed, would remain in place until the commission completes its investigation and issues a final decision, according to the statement.Meta did not immediately respond to a request for a comment from.Price: $672.65, Change: $+10.16, Percent Change: +1.53%

$META

US Markets146d ago

Snap to Cut 16% of Global Workforce; Stock Gains

Snap (SNAP) plans to lay off about 1,000 employees, or roughly 16% of its full-time workforce, as part of Chief Executive Evan Spiegel's efforts to reduce costs.The job cuts are aimed to reallocate resources to high-priority initiatives, the social media company said in a Wednesday regulatory filing. In addition, the group is closing more than 300 open roles.Snap expects to reduce its annualized cost base by more than $500 million by the second half, "helping to establish a clearer path to net-income profitability," Spiegel said in a note to staff."While these changes are necessary to realize Snap's long-term potential, we believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers," Spiegel said.The company estimates pretax charges of $95 million to $130 million from the workforce reductions, majority of which are expected to be incurred during the second quarter, the company said in the filing.Snap's shares rallied 6.3% in Wednesday trade. The stock has lost 26% so far this year.In 2024, the company disclosed plans to reduce its global headcount by about 10%, less than two years after it said it will lay off 20% of its workforce and discontinue certain projects.As a result of the latest job cuts, Snap expects adjusted operating expenses of roughly $2.75 billion for 2026, down from its previous guidance of about $3 billion, according to an investor presentation. The company reiterated its infrastructure cost outlook of $1.6 billion to $1.65 billion.For the first quarter, the Snapchat parent projects revenue of about $1.53 billion, representing annual growth of 12%, at the high end of its previously issued guidance range. The current consensus on FactSet is for sales of $1.52 billion.Price: $5.91, Change: $+0.31, Percent Change: +5.45%

$SNAP

Commodities146d ago

Blast at Coal-Fired Power Plant in India, Operated by GE Vernova/NTPC JV Kills at Least 10

A high-pressure steam line failure at Vedanta's Athena coal-fired power plant in Singhitarai, Chhattisgarh, India, resulted in at least 10 fatalities on April 14, according to a BSE filing by Vedanta Limited on Tuesday.At the time of the blast, the facility was being operated and maintained by NGSL or NTPC GE Power Services Private Limited, a joint venture between NYSE-listed GE Vernova (GEV) and NTPC.While Vedanta's initial stock exchange disclosure reported 10 fatalities and 24 affected personnel, District Collector Amrit Vikas Topno reportedly updated the count on Wednesday to 17 deaths, as several critically injured workers succumbed to severe burns.The incident, involving personnel from sub-contractor NGSL, has triggered a high-level investigation into maintenance protocols at the recently commissioned 600-megawatt unit.The company identified the cause as a failure in a high-pressure steam tube that connects the boiler to the turbine.According to the filing, the accident occurred at about 2:30 PM on Tuesday at the Unit-1 boiler.The 1,200 MW Athena project is a critical asset for Vedanta, which acquired the stalled plant in 2022. Unit-1 began commercial operations in late 2025.The incident comes as India delays maintenance on 10 gigawatts of coal capacity to meet soaring summer demand, raising urgent questions about industrial safety.Price: $987.41, Change: $-0.10, Percent Change: -0.01%

$GEV

Wire146d ago

Street Color: Boeing Receives $324 Million US Army Contract For Six CH-47F Block II Chinook Helicopters

$BA

Wire146d ago

United Parcel Service's Roadie, Centiro Integrate Platforms to Support Same-Day Retail Delivery

United Parcel Service's (UPS) Roadie unit said Wednesday it has integrated its services with Centiro's delivery management platform to support same-day shipping for large retailers and third-party logistics firms.The partnership makes use of the RoadieXD cross-dock system to eliminate warehouse bottlenecks during high-demand periods by decoupling label printing from shipment data transmission, the company said.Workers can print shipping labels using current workflows while delivery data is transferred to the delivery network in scheduled batches to maintain fulfillment speed and lower costs, Roadie added.Price: $102.71, Change: $-0.52, Percent Change: -0.50%

$UPS

Mining & Metals146d ago

Atlas Engineered Products Receives Federal Grant of up to $4 Million For Robotic Facility

Atlas Engineered Products (AEP.V) said Wednesday that it will receive up to $4 million in federal funding through the Department of Natural Resources.The funding will support building construction and procurement for the robotics truss manufacturing facility being built in Clinton, Ontario.The project, which is nearing completion, is expected to increase manufacturing capacity and efficiency and minimize lumber waste in the manufacturing of roof trusses for the wood building construction sector. Once complete, the facility will be the first of its kind in Canada, adopting technology that has proved successful in Europe, Australia, and the United States, a statement said.Atlas Engineered Product shares were last seen up $0.02, to $0.67, on the TSX Venture Exchange.

$AEP.V

Mining & Metals146d ago

Extendicare Announces April 2026 Dividend

Extendicare (EXE.TO) on Wednesday said it declared a cash dividend of C$0.0441 per common share of the company for the month of April 2026, unchanged from the prior month.The company said it is payable on May 15, 2026, to shareholders of record at the close of business on April 30, 2026.Price: $29.36, Change: $-0.20, Percent Change: -0.68%

$EXE.TO

Wire146d ago

American Eagle Outfitters Shares Rise After New Summer Campaign With Sydney Sweeney

American Eagle Outfitters (AEO) shares rose 6% in early trading Wednesday after the company launched its summer marketing campaign featuring Sydney Sweeney, following a prior promotion that coincided with a stock rally in July 2025.The campaign centers on denim shorts as a key seasonal product and continues the brand's collaboration with the actress, the company said.American Eagle Outfitters said the new rollout highlights more than 200 shorts styles and is part of a broader summer assortment that includes more than 850 new items.Price: $18.65, Change: $+0.88, Percent Change: +4.92%

$AEO

Wire146d ago

Shutterstock Introduces AI Video Generator Platform

Shutterstock (SSTK) said Wednesday it launched a new artificial intelligence video generator that combines text-to-video and image-to-video capabilities into a single unified platform.The software integrates external generation models from partners like Alphabet's (GOOG, GOOGL) Google and Runway with the company's existing media library, Shutterstock said.Users can use a text prompt or animate existing static images to build licensed commercial video content, the company said.The system allows teams to test concepts and finalize assets without relying on fragmented third-party tools, using multiple licensing choices to legally distribute their generated media, Shutterstock said.Shares of Shutterstock were up more than 2% in Wednesday trading.Price: $18.03, Change: $+0.42, Percent Change: +2.39%

$GOOG$GOOGL$SSTK

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US Markets146d ago

Snap to Cut 16% of Global Workforce; Stock Gains

$SNAP