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RBC Raises Price Target on Eaton to $457 From $439, Keeps Outperform Rating

Eaton (ETN) has an average rating of overweight and mean price target of $415.80, 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)

$ETN

Research146d ago

Research Alert: Morgan Stanley Delivers Strong Q1 2026 Results, Beating Estimates

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MS posted outstanding Q1 2026 results with EPS of $3.43, beating consensus of $3.01, up 14% Y/Y, while total revenue was $20.6B, up 16% Y/Y, leading to pretax income of $7.0B. Two of its three main segments contributed to growth, with strong regional performance led by Asia up 43% Y/Y and North America up 11% Y/Y. We remain bullish on MS as it stands to significantly benefit from a potential upturn in investment banking as a market leader, with rebound in global markets for trading and capital raising expected to benefit the firm. Management did not provide specific numerical guidance for future periods. AUM grew to $1.9T, up 13% Y/Y, with Alternatives and Solutions reaching $770B, up 184% Y/Y. Consolidated loans rose 17% Y/Y to $515B, with no high credit risks evident. We believe MS can deliver durable revenue and earnings growth that supports a higher valuation multiple, though risks remain from the Iran-U.S. conflict potentially slowing economies. MS returned $1.75B to shareholders via share repurchases.

$MS

US Markets146d ago

South Korea Unemployment Rates Declines to 2.7% in March

Despite Persian Gulf turmoils, South Korea's seasonally adjusted unemployment rate declined to 2.7% in March, down from 2.9% in February, striking a four-month low, reported the Ministry of Data and Statistics (MDS) on Tuesday.The economically active population, that is, citizens aged 15 or more and employed or seeking work, rose to 28.8 million in March, up from 28.6 million a year earlier.The number of unemployed persons in March fell 884,000, down from 993,000 in February, added the MDS.Despite the generally good overall employment numbers in March, some details of the South Korean worker picture "remain weak," said ING Think, an arm of the Dutch investment house.The decline in the March unemployment rate "for example, was partly due to workers exiting the labor market rather than to job growth," said ING Think. "Also, most of the job growth was concentrated in low-wage, low-skilled service positions and self-employment. By contrast, manufacturing and salary-based employment declined."While good-paying factory jobs became more scarce, the most jobs added in March were in the categories of eating out, accommodation, transportation, and information & communications, said ING Think."These jobs are mostly non-regular and low-wage, having a limited positive impact on household spending. We think this trend indicates subdued domestic demand," advised ING Think.The Middle East and related supply snags, including tight oil markets, are likely to worsen the South Korea employment picture in coming months, added ING Think."We are also concerned that supply disruptions lasting beyond two months could weaken labor market conditions across a broader range of industries. Petrochemical activity, including Naphtha Cracking Centers utilization rates, have already dropped to their lowest levels in March," said ING Think. "This type of enforced production slowdown is expected to become widespread and to start hurting employment in other sectors."

^KOSPI

Wire146d ago

Lumen Technologies to Provide Network Connectivity for Amazon Web Services Interconnect - Last Mile

Lumen Technologies (LUMN) said Wednesday it has collaborated with Amazon.com's (AMZN) Amazon Web Services to offer network connectivity for AWS Interconnect - last mile.The company said it will provide the connectivity through Lumen Cloud Interconnect, using its last-mile and metro network infrastructure.The partnership combines the AWS cloud and operational model with Lumen's digital network platform and network infrastructure, according to the company.Lumen said the new connectivity is now available to enterprise customers in the United States.Lumen's stock was up over 6.0% in Wednesday premarket trading.

$AMZN$LUMN

Sectors146d ago

Sector Update: Financial Stocks Rise Premarket Wednesday

Financial stocks were rising premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.4% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.4%.Bank of America (BAC) stock was up 2.2% after the company reported higher Q1 earnings and net revenue.Morgan Stanley (MS) shares were up 2.8% after the company posted higher Q1 earnings and net revenue.First Horizon (FHN) stock was up about 3% after the company reported higher Q1 adjusted earnings and revenue.

$BAC$FAS$FAZ$FHN$MS$XLF

Sectors146d ago

Sector Update: Health Care Stocks Rise Pre-Bell Wednesday

Health care stocks were rising pre-bell Wednesday with the State Street Health Care Select Sector SPDR ETF (XLV) 0.1% higher and the iShares Biotechnology ETF (IBB) up 0.4%.Mesoblast (MESO) shares were up more than 4% after the company said it acquired an exclusive worldwide license to a chimeric antigen receptor technology platform for augmentation of therapeutic mesenchymal lineage stromal cell products.ARS Pharmaceuticals (SPRY) stock was up more than 1% after the company said Health Canada has approved its neffy 2mg nasal spray for the emergency treatment of anaphylaxis.Immutep (IMMP) shares rose by more than 178% after the company said the US Food and Drug Administration has granted orphan drug designation to eftilagimod alfa for the treatment of soft tissue sarcoma, a rare cancer.

$IBB$IMMP$MESO$SPRY$XLV

Equities146d ago

Capital One Securities Adjusts Expand Energy PT to $127 From $128, Maintains Overweight Rating

Expand Energy (EXE) has an average rating of Buy and mean price target of $135.11, 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)

$EXE

Commodities146d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday as Investors Turn to Corporate Earnings

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.01% higher in Wednesday's premarket activity as investors shift focus from geopolitical risks to earnings updates.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.01%before the start of regular trading.US mortgage applications increased 1.8% in the week ended April 10 as a rise in refinancing tied to lower rates offset a slight decline in purchase activity, Mortgage Bankers Association data showed Wednesday.US import prices increased 0.8% in March, below expectations, as a surge in petroleum costs drove most of the gain, government data showed. Excluding fuel, import prices edged up 0.1%, missing forecasts and slowing from the prior month.The National Association of Home Builders sentiment reading for April is due to be released at 10 am ET, followed by weekly petroleum stocks data at 10:30 am ET.The Fed's Beige Book report is due to be released at 2 pm ET.Fed Vice Chair for Supervision Michelle Bowman is slated to speak on Wednesday.In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat, the Ether ETF (EETH) advanced 0.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) rose 11.6%.Power Play:EnergyThe iShares US Energy ETF (IYE) gained 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.DHT (DHT) stock was up more than 4% before Wednesday's opening bell after the company said it expects Q1 time charter equivalent earnings of $78,800 per day.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Stellantis (STLA) shares were up more than 2% pre-bell after the company said its Q1 estimated consolidated shipments totaled 1.4 million units, up 12% from a year earlier.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was inactive.Spyre Therapeutics (SYRE) stock was up more than 2% premarket after the company said late Tuesday it priced its upsized underwritten public offering of 6.5 million shares at $62 apiece for gross proceeds of about $403 million.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.Morgan Stanley (MS) shares were up more than 2% pre-bell after the company posted higher Q1 earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.04%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was up 0.02%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.02%, while the iShares Semiconductor ETF (SOXX) retreated by 0.5%.ASML Holding (ASML) shares were down more than 2% in premarket activity after the company reported higher Q1 earnings and sales.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, while the Vanguard Industrials Index Fund (VIS) gained 0.3% and the iShares US Industrials ETF (IYJ) was inactive.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.4% to reach $91.66 per barrel on the New York Mercantile Exchange. Natural gas advanced by 0.9% to $2.62 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.1%, while the United States Natural Gas Fund (UNG) was 1.1% lower.Gold futures for May were down by 0.3% at $4,834.40 an ounce on the Comex. Silver futures declined by 0.8% to $78.95 an ounce. SPDR Gold Shares (GLD) was 2.2% higher, and the iShares Silver Trust (SLV) advanced by 5.5%.

Dow JonesNasdaq CompositeS&P 500$ASML$BETH$BITO$DHT$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MS$PMR$QQQ$RTH$SLV$SOXX$SPY$STLA$SYRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Mining & Metals146d ago

Groupe Dynamite Renews Its Normal Course Issuer Bid

Groupe Dynamite (GRGD.TO), a player in the fashion industry, on Wednesday announced the receipt of regulatory approval from the Toronto Stock Exchange of its notice of intention to renew its normal course issuer bid.Under the NCIB, the company may buy back for cancellation, during the period starting on Apr. 17, 2026, and ending on the earlier of Apr. 16, 2027, and the date on which the company reaches the maximum purchases permitted under the NCIB, up to an aggregate of near 1.6-million subordinate voting shares, representing about 10% of its public float as at Apr. 3, 2026.Groupe Dynamite will also enter into an automatic securities purchase plan with a designated broker on or about Apr. 17, whereby subordinate voting shares may be repurchased at times when such purchases would otherwise be prohibited pursuant to regulatory restrictions or self-imposed blackout periods.As of Apr. 3, the company had 20.8-million subordinate voting shares issued and outstanding, and a public float of 15.7-million subordinate voting shares.Shares of the company closed down 2% to $89.13 on Tuesday on the TSX.

$GRGD.TO

Sectors146d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, 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) advancing by 0.2%.Stellantis (STLA) stock was up nearly 4% after the company said its Q1 estimated consolidated shipments totaled 1.4 million units, up 12% from a year earlier. Separately, Bloomberg News reported that Stellantis is considering reviving a partnership with Dongfeng Motor, under which the companies would jointly produce cars in Europe and China.BRP (DOO) shares were down more than 26% after the company said it is suspending its full-year 2027 guidance following a recent amendment to US rules for tariffs on steel, aluminum, and copper imports which became effective earlier this month.Mama's Creations (MAMA) shares were up more than 7% after the company posted higher fiscal Q4 earnings and revenue.

$DOO$MAMA$STLA$XLP$XLY

Mining & Metals146d ago

Grande Portage Says PEA Positions New Amalga Gold Project "Well For the Future"; Rose Near 6% on Tuesday

Grande Portage Resources (GPG.V), which saw its shares gain near 6% yesterday, provided Wednesday the results of a preliminary economic assessment (PEA) on the New Amalga gold project in Alaska.Among economic and production highlights, GPG in a statement said the base case using a US$3,200/oz gold price generates a pre-tax Internal Rate of Return of 69% (after-tax 56%) and a pre-tax net present value at a 5% discount rate of US$979 million (after-tax US$721 million).The PEA production plan incorporates an underground mine with a base case production life of seven years with total production of 1.05 million gold ounces shipped. Gold production averages approximately 150,000 ounces shipped per year. Pre-production capital cost was pegged at $254.8 million, including US$46.4M contingency."The strong results of the PEA confirm our contention that the project's offsite processing strategy is the optimal development pathway, with high margins, rapid payback, and straightforward engineering combined with a very small environmental footprint," President and Chief Executive Officer Ian Klassen said."This PEA positions the project well for the future, where detailed design, capital optimization, baseline environmental studies and permitting can advance with confidence," Klassen added.Shares in GPG were up $0.025 or 5.8% to $0.4550 yesterday.

$GPG.V

Sectors146d ago

Sector Update: Tech Stocks Mixed Premarket Wednesday

Technology stocks were mixed premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly lower and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.Snap (SNAP) shares were up more than 7% after the company said it will cut about 16% of its global workforce, roughly 1,000 employees, to generate over $500 million in annualized cost savings.ASML Holding (ASML) shares were down more than 2% after the company issued Q2 sales outlook below analysts' expectations.Uber Technologies (UBER) has committed more than $10 billion to purchasing autonomous vehicles and picking up stakes in their developers, the Financial Times reported. Uber Technologies stock was up more than 1% pre-bell.

$ASML$SNAP$UBER$XLK$XSD

Commodities146d ago

Market Chatter: China Weighs Curbs on Solar Equipment Exports to US

China is holding talks with local solar panel equipment makers, aimed at limiting their exports to the US, according to a Reuters report, citing five people with knowledge of the matter.This could potentially be a setback for US companies, with China being home to the top 10 solar cell equipment suppliers, Reuters said.While nothing has been finalized just yet, the talks essentially involved taking formal feedback from companies, according to two of the sources who reached out to Reuters. This comes as the industry has been grappling with overcapacity, following years of aggressive expansion.Suzhou Maxwell Technologies, a leading equipment manufacturer in the industry, was reportedly visited by regulators, with discussions revolving around the company's high-end products, aimed at producing high-efficiency solar panels, which uses HJT, or heterojunction technology, according to three other sources.Neither Suzhou Maxwell Technologies, nor China's Ministry of Commerce immediately responded to' request for a comment on this story.(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.)

Sectors146d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was up 0.6% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 0.4% higher at $91.60 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.6% to $95.32 per barrel, and natural gas futures were up 0.3% at $2.61 per 1 million British Thermal Units.Borr Drilling (BORR) shares were down more than 1% after the company priced a $260 million offering of 3.50% senior notes due 2033.

$BORR

Oil & Energy146d ago

EMEA Oil Update: Crude Rises as Diplomacy Counters War Premium

Crude futures contracts gained roughly 1% on Wednesday rebounding from earlier losses as traders weighed the latest diplomatic signals from US about the Strait of Hormuz.The front-month Murban crude contract added 0.8% at $101.73 per barrel. Brent futures contract was up 1% at $95.72/bbl."China is very happy that I am permanently opening the Strait of Hormuz," US President Donald Trump posted on Truth Social.Energy markets have shown signs of stabilizing following a volatile period, as ANZ analysts noted that reports of a second round of US-Iran peace talks helped temper earlier spikes.Sentiment was bolstered by reports that Iran may pause shipments to avoid naval confrontation, potentially clearing a path for renewed talks before the ceasefire deadline expires analysts said.These discussions, aimed at extending the current ceasefire due to expire on April 22, are expected to take place in Islamabad over the coming days.Market sentiment was buoyed by comments from Trump, who stated in a Fox Business interview that the war is "very close to being over," SEB analysts said.The president highlighted these remarks on Truth Social, which SEB analysts suggested has led markets to price in a potential de-escalation.Saxo Bank analysts observed that Brent falling below the $100 threshold reflects growing optimism.

Equities146d ago

Roth Capital Adjusts EOG Resources Price Target to $134 From $110, Maintains Neutral Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $153.71, 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)

$EOG

Asia Markets146d ago

US Equity Futures Flat Pre-Bell as Traders Remain Optimistic About Potential US-Iran Deal

US equity futures were mostly unchanged pre-bell Wednesday as traders continue to be optimistic on the possibility of a US-Iran agreement being finalized soon.Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were flat, while Nasdaq futures were down 0.1%.Negotiations between the US and Iran could resume as early as this week, with the New York Post quoting President Donald Trump as saying it could happen "over the next two days."Traders digested earnings from Bank of America (BAC) and Morgan Stanley (MS), which posted higher Q1 earnings and revenue. Progressive (PGR) also reported higher Q1 net income and net premiums earned.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $95.39 per barrel and US West Texas Intermediate crude 0.4% higher at $91.64 per barrel.The April Empire State manufacturing index, released at 8:30 am ET, came in at 11.0, up from negative 0.2 in March and above estimates compiled by Bloomberg for a reading of 0.0.The March import price index, released at 8:30 am ET, showed a 0.8% month-over-month increase, falling short of estimates compiled by Bloomberg for a 2.3% gain. Export prices increased 1.6%, slightly higher than expectations for a 1.5% gain.The April US housing market index, slated for 10 am ET, is seen coming in at 37 versus 38 previously.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 0.3% higher, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was also 0.1% higher in Europe's early afternoon session.In equities, Bank of America shares were up 1.6%, while Morgan Stanley stock was 2.8% higher. Snap (SNAP) shares were up 7.6% after the company said it planned to cut around 16% of its global workforce, or roughly 1,000 employees.On the losing side, Terawulf (WULF) shares were down 4.7% after the company said late Tuesday that it priced a public offering of 47.4 million shares at $19 each for gross proceeds of about $900 million. BRP (DOO) stock was 26% lower after the company overnight said it suspended its fiscal 2027 guidance following a recent amendment to US rules for tariffs on steel, aluminum, and copper imports.

Dow JonesNasdaq CompositeS&P 500$BAC$DOO$MS$PGR$SNAP$WULF

Sectors146d ago

Sector Update: Financial

$BAC

Asia146d ago

Aeon Credit Service Renews On-Us Master Contract with AEON Stores

Aeon Credit Service (Asia) (HKG:0900) renewed an on-us master agreement with its fellow subsidiary AEON Stores (Hong Kong) (HKG:0984) for three years starting April 15, 2026, and ending April 14, 2029, according to a Wednesday filing with the Hong Kong bourse.The move comes as the previous contract expired Tuesday, the credit card and finance company said.Under the contract, the firm will receive commissions from AEON Stores (Hong Kong) for certain On-us commission transactions including various kinds of purchases of goods and services.

HKG:0900

Asia146d ago

Shenguan's Substantial Shareholder Boosts Shareholding

Shenguan (HKG:0829) said Shenguan Biology Science & Technology Investment acquired nearly 8.5 million shares in the company from the market between April 9 and April 14, according to a Wednesday Hong Kong bourse filing.The shares represent roughly 0.26% of the sausage casing maker's issued share capitalShenguan Biology Science & Technology Investment is owned by Zhou Yaxian, the company's chairperson and substantial shareholder.Following the purchases, Zhou now holds a total of 1.64 billion, or 50.76%, shares in the firm's issued share capital.

HKG:0829

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Commodities146d ago