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Update: Market Chatter: Commvault Exploring Sale After Receiving Takeover Interest

(Updates with the latest stock movement in the fourth paragraph.)Commvault Systems (CVLT) is exploring a sale after receiving takeover interest from multiple private equity firms and strategic buyers, Reuters reported Friday, citing four people familiar with the matter.The data protection software provider is working with Goldman Sachs (GS) to weigh its options, the report said, citing the sources.Commvault didn't immediately reply to a request for comment from.Shares of the company were up 8.3% in Friday trading.(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: $87.26, Change: $+6.65, Percent Change: +8.25%

$CVLT$GS

Wire155d ago

Market Chatter: Meta Should Face Instagram Youth Addiction Lawsuit by Massachusetts

Meta Platforms (META) should face a lawsuit by Massachusetts attorney general that alleged Instagram was designed in a way to make young users addicted to the social media platform, Reuters reported Friday, citing a court ruling.Justice Dalila Argaez Wendlandt wrote that the lawsuit by the attorney general does not seek to hold the company liable for content created by its users but targets the company's conduct, according to the report.Meta 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: $625.33, Change: $-3.06, Percent Change: -0.49%

$META

Research155d ago

CIBC Maintains ATCO's Outperformer Rating and C$72 Price Target

CIBC Capital Markets on Thursday maintained its Outperformer rating and C$72 price target on the shares of ATCO (ACO-X.TO) after hosting a fireside chat with Adam Beattie, President of ATCO's Structures and Katie Patrick, Chief Financial Officer and Chief Investment Officer of ATCO Ltd., to discuss ACO's Structures & Logistics (S&L) business. The bank said it had also done a "deeper dive" on S&L, and ATCO remains "a top pick".CIBC said that, overall, the company update reinforced its "constructive view" on S&L given multiple policy/industry tailwinds that should help drive durable and more diversified growth."That said," it added, "ACO.X's commentary alone may not be sufficient to sway the marginal buyer of the stock -- limitations on disclosures could temper near-term re-rating potential despite a favourable demand backdrop and solid execution to date."CIBC said multiple tailwinds support a "positive outlook", noting that S&L benefits from multiple demand drivers, including Canada's support for large infrastructure projects (energy export buildout), rising defence spending, mineral extraction activity, and growing commercial and residential housing needs. "Modular housing could become more meaningful -- we believe ACO.X should be competitive in the Canadian military housing tender (strong history of serving defence) in the next year," the bank added.CIBC further noted that, in the U.S., there's "material runway to scale and grow" into new regions/markets as reshoring and the data centre buildout drive demand. It noted there are also strong data centre tailwinds in Australia."Data centres were flagged as increasingly attractive given improving economics and longer rental durations (typically 36-48+ months vs. 6-36 months for traditional rentals)," said CIBC. Currently holding only about 2% U.S. market share (representing 15% of S&L revenue), ATCO is well positioned to expand in this end market, the bank added.CIBC noted that ATCO emphasized that industrial (infrastructure, construction, resources) should continue to provide a "resilient, high-margin earnings base", while commercial and residential modular growth "should accelerate (off a smaller base)". CIBC said while margins in the latter will be lower near term, it said it does not expect material EBITDA margin contraction for S&L, with top line growth supporting earnings growth. "Further, we do not expect a step up in capex to support this growth (should remain in line with recent levels), and the strong growth can largely be leveraged off existing manufacturing capacity," added CIBC. "Trailing 3-year CAGRs (2022-2025) for revenue/EBITDA are 11%/26%."CIBC forecasts 3-year CAGRs for 2025-2028E for revenue/EBITDA of 8%/9%. It added that its revenue forecast could be conservative.CIBC noted ATCO reiterated its view that S&L is undervalued at current prices which is a view the bank shares. CIBC believes "enhanced disclosures (e.g. a backlog or explicit revenue/margin targets) could help", but noted ACTO seems reluctant to provide.Price: $72.28, Change: $+2.18, Percent Change: +3.11%

$ACO-X.TO

US Markets155d ago

Equity Markets Mixed Intraday Ahead of US-Iran Talks

US benchmark equity indexes were mixed intraday as traders awaited upcoming talks between Washington and Iran and parsed the latest inflation data.The Dow Jones Industrial Average was down 0.6% at 47,922.5 after midday Friday, while the S&P 500 fell 0.1% to 6,815.3. The Nasdaq Composite rose 0.2% to 22,870.8. Among sectors, consumer staples saw the biggest decline, while technology paced the gainers.West Texas Intermediate crude oil was up 0.5% at $98.32 a barrel intraday.Officials from the US and Iran are expected to meet Saturday in Pakistan, which helped broker a recent two-week truce between the two countries.The US is ready to renew and increase strikes on Iran if the parties are unable to reach a peace deal in the upcoming talks, CNN reported Friday, citing President Donald Trump. Negotiations can't start until the US agrees to a ceasefire in Lebanon and the release of blocked Iranian assets, the news outlet reported, citing Iran's parliament speaker.US Treasury yields were higher intraday, with the 10-year rate up four basis points at 4.32% and the two-year rate rising 3.9 basis points to 3.81%.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher, official data showed."The fallout of the US/Israel-Iran war was evident in the March consumer price index," Oxford Economics said in a note.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, a survey by the University of Michigan showed."Demographic groups across age, income, and political party all posted setbacks in sentiment, as did every component of the index, reflecting the widespread nature of this month's fall," Surveys of Consumers Director Joanne Hsu said. "Economic expectations will likely improve after consumers gain confidence that the supply disruptions stemming from the Iran conflict have ended and gas prices have moderated."In company news, ServiceNow (NOW) shares were down 8.6% intraday, among the worst performers on the S&P 500.The enterprise software company's competitive advantage may have eroded amid growing evidence that workflow automation tasks can be automated by harnessing artificial intelligence models, UBS Securities said in a note. The brokerage downgraded its rating on the stock to neutral from buy and lowered its price target to $100 from $170.CoreWeave (CRWV) shares jumped 11% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Other major tech names were also advancing intraday, with Nvidia (NVDA) up 2.4%, the biggest gainer on the Dow, while Super Micro Computer (SMCI) jumped 9.2%, the best performer on the S&P 500. Broadcom (AVGO), Advanced Micro Devices (AMD), and Amazon.com (AMZN) were also firmly in the green.Gold was down 0.6% at $4,790 per troy ounce, while silver rose 0.1% to $76.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$AVGO$CRWV$NOW$NVDA$SMCI

International155d ago

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending April 25

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending April 25, according to data from ship-tracking system Port Optimizer.A total of 116,926 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a 20% increase from the previous week and a 2.4% decrease from a year earlier.Twenty freight vessels are scheduled to arrive at the port in the week ending April 25, the data showed. That's down from 21 vessels this week and up from 18 in the week ending April 18.

International155d ago

Daily Roundup of Key US Economic Data for April 10

The consumer price index jumped by 0.9% in March, with energy prices up 10.9% on a record high 21.2% jump in gasoline prices, accounting for almost 75% of the overall price increase.Consumer prices were up 0.2% excluding food and energy prices, below expectations, with food prices flat.The year-over-year increase accelerated sharply to 3.3% from 2.4% in February, the highest in nearly two years, while the core measure was up 2.6% year-over-year after a 2.5% rate in the previous month.Owners' equivalent rents rose by 0.3% and regular rents were up 0.2%, both faster gains than in the previous month.In addition, prices of new vehicles rose by 0.1% after a flat reading in the previous month, used vehicle prices fell by 0.4% for a second straight month but airline fares rose by 2.7%.The preliminary Michigan Sentiment index fell to 47.6 in April from 53.3 in March, reflecting a large increase in one-year inflation expectations that pulled down both the consumers' assessment of current conditions and the near-term outlookMichigan said the decline in sentiment was seen across all income and age groups, with respondents citing the conflict in Iran.Factory new orders were flat in February with transportation orders down 5.3% and the remaining categories combining for a 1.2% gain.Durable goods orders were revised up to a 1.3% decline from the 1.4% decrease in the advance estimate, while nondurable goods new orders rose by 1.5%.Factory shipments rose by 1.4% and factory inventories increased by 0.1%. When combined with already-published advance estimates for retail and wholesale sales, business sales are on pace for a 1.7% gain in the month.The US Treasury reported a $164.1 billion budget gap in March, wider than the $160.53 billion deficit reported in March 2025, but the fiscal year-to-date gap was smaller this year than in the same period a year ago.The Q1 GDPnow estimate from the St. Louis Fed is for a 1.992% gain, up from a 1.703% increase in the previous week.

Research155d ago

Update: Seaport Upgrades Madison Square Garden Sports to Buy From Neutral, Sets $430 Price Target

(Updated to include Seaport's commentary)Seaport upgraded Madison Square Garden Sports (MSGS) to buy from neutral ahead of the potential spin later this summer that separates the Knicks and Rangers into their own standalone companies.While noting that a unique, punitive tax code impact that starts in 2027 could open up the aggregate of the two companies into more tax expense, the brokerage mentioned that the separation could, at the same time, facilitate a minority shareholder investment, which could help offset years of added tax burden and provide a clear valuation benchmark, acting as a significant enough catalyst for the stock.Madison Square Garden Sports has an average rating of overweight and mean price target of $367.50, according to analysts polled by FactSet.Price: $329.70, Change: $+7.50, Percent Change: +2.33%

$MSGS

International155d ago

US Existing Homes Sales Pace Expected to Decelerate Slightly in March

The National Association of Realtors' measure of US existing-home sales is expected to slow to a 4.08 million annual rate in March, based on a survey compiled by Bloomberg, after rising by 1.7% to a 4.09 million rate in February.Existing-home sales were at a 4.02 million rate in March 2025, so the year-over-year change would be positive.The data are scheduled to be released at 10:00 am ET Monday.The pending home sales index, also produced by the NAR, was up 1.8% in February but was 0.8% below its reading a year ago. That measure is taken at contract signing and is meant to foreshadow movements in existing homes closings a month or two out.Recent mortgage application data from the Mortgage Bankers Association indicated that mortgage rates rebounded in March after falling in February.

US Markets155d ago

Oil Stabilizes at Under $100 as US-Iran Talks in Focus

Oil prices stabilized at under $100 a barrel on Friday ahead of US-Iran talks in Pakistan as markets sought clarity on whether this weekend's huddle in Islamabad could lead to a long-term peace deal.West Texas Intermediate crude traded 0.5% higher at $98.25 a barrel on Friday, while Brent added 0.9% to $96.88.Earlier in the week, the US and Iran agreed to a two-week ceasefire, pausing a war that had spread across the Middle East and curtailed shipments through the crucial Strait of Hormuz. Oil prices on Wednesday posted their sharpest one-day pullback since 2020 following the ceasefire announcement.The focus now shifts to Islamabad, where officials from Washington and Tehran are expected to meet on Saturday. The truce, which Pakistan helped broker, appeared to be holding so far, though there's uncertainty around the outcome of these talks.Fighting between Israel and Iran-backed Hezbollah continued in Lebanon, CNN reported Friday. Iran's parliament speaker, Mohammad Bagher Ghalibaf, said talks will begin only if there is a ceasefire in Lebanon and blocked Iranian assets are released.RBC Capital Markets pointed out uranium enrichment and the lifting of sanctions against Iran as key sticking points heading into the talks."Ahead of the weekend's anticipated Islamabad ceasefire talks, we highlight the enrichment and sanctions relief sticking points that will be key points of contention," RBC Head of Global Commodity Strategy Helima Croft wrote in a note emailed Friday.Washington's zero enrichment demands doomed previous rounds of talks, while Congress will likely push back on any move to lift sanctions on Iran, Croft said.As part of the ceasefire, Washington demanded the immediate opening of the Strait of Hormuz, while Tehran said it would allow "safe passage" through the waterway, subject to coordination with Iranian authorities."Regardless of the outcome of the talks, unblocking the Strait of Hormuz will prove protracted, as a number of countries and companies will resist coordination of passage and payment with Iran," Croft said.

Treasury155d ago

National Bank On What It Will Be Watching For Next Week

National Bank notes we'll get an update on the state of the residential sector with the release of March Housing Starts next Friday. The bank says judging by the data on building permits, the latter could have increased to 260K in annualized terms, led by the multi-unit segment.National Bank notes we will on Thursday also get Existing Home Sales numbers. The bank says they may have edged up 0.7% nationally in the third month of the year, boosted by stronger sales in Toronto and Vancouver.In other news, National Bank says Manufacturing Sales data on Wednesday may have expanded 3.8% m/m in February, on increases in the food and transportation equipment subsectors.The bank notes other February data will also be available, including figures Wednesday on Wholesale Trade Sales and Building Permits on Monday. National Bank will also be keeping an eye out for the release of the CFIB Business Barometer for April.Price: $195.34, Change: $+1.83, Percent Change: +0.95%

$CXY$NA.TO

Wire155d ago

Market Chatter: Nike's Chief Innovation Officer Leaving After Less Than a Year

Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported Friday, citing a company statement.Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the company reportedly said.Nike didn't immediately reply to a request for comment from.(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: $42.62, Change: $-1.38, Percent Change: -3.14%

$NKE

Sectors155d ago

Sector Update: Energy Stocks Lower Friday Afternoon

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index was shedding 0.7%, and the Dow Jones US Utilities Index was down 0.1%.In sector news, President Donald Trump said Friday in a phone interview with the New York Post that US warships are being restocked with ammunition in order to resume strikes should peace talks with Iran falter this weekend.Front-month West Texas Intermediate crude oil was rising 0.6% to $98.39 a barrel, and the global benchmark Brent crude contract was advancing 0.7% to $96.70 a barrel. Henry Hub natural gas futures fell 0.8% to $2.65 per 1 million BTU.In corporate news, Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago. The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson. Shell shares were up 0.8%.The Port of Antwerp in Belgium, which is home to European refineries operated by Exxon Mobil (XOM) and TotalEnergies (TTE), was blocked following an oil spill during a ship refueling operation, preventing large vessels from entering or leaving the port, the port authority said Friday. Exxon shares fell 1.6%, and TotalEnergies was up 1.8%.EQT (EQT) and Glencore committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT shares were down 1.1%.

$EQT$SHEL$TTE$XOM

Wire155d ago

Comstock Holding Acquires Woodland Pointe Campus in Virginia, Signs Lease with Peraton

Comstock Holding (CHCI) said Friday it acquired Woodland Pointe, a 6.77-acre office campus in Herndon, Virginia, and executed a full-campus lease with Peraton, a technology and national security company.The seller and purchase price were not disclosed.The campus includes a six-story, 185,000-square-foot office tower, and Comstock plans a new 100,000-square-foot build-to-suit building that Peraton will fully occupy.Price: $18.34, Change: $-1.09, Percent Change: -5.61%

$CHCI

Wire155d ago

Nike Chief Innovation Officer Leaving After Less Than a Year, WSJ Reports

$NKE

International155d ago

US Treasury March Budget Deficit Larger Than Expected, Wider Than Year Ago

The US Treasury posted a $164.1 billion budget deficit in March compared with the $153.3 billion deficit expected in a survey compiled by Bloomberg and wider than the $160.53 billion budget deficit a year earlier.The monthly deficit was $307.5 billion in February.Through the first six months of the fiscal year, the deficit is $1.169 trillion, smaller than a $1.307 trillion gap in the same period a year earlier.

International155d ago

US March Treasury Budget Deficit $164.1 Billion Vs $153.3 Billion Deficit Expected, March 2025 $160.5 Billion

Sectors155d ago

Update: Gold Trading Lower as U.S. Inflation Surged in March on Higher Gasoline Prices

(Updates prices.)Gold futures eased midafternoon on Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve.Gold for May delivery was last seen down US$28.50 to US$4,789.50 per ounce.The U.S. Bureau of Labor Statistics reported the March Consumer Price Index (CPI) rose to a 3.3% annualized rate in March, the highest since May 2024, up from 2.4% in February, but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy prices, rose 2.6%, up from 2.5% a month earlier but came in under the consensus estimate for a 2.7% rise.The Bureau said the rise came on higher gasoline prices "which accounted for nearly three quarters of the monthly all items increase". Fuel prices have surged since the United States and Israel launched their war on Iran on Feb. 28 and Iran closed the Strait of Hormuz, cutting off 20% of daily oil supply from Persian Gulf countries.Gold remains well below its Jan. 29 record high of US$5,354.80 per ounce as rising inflation ends hope for lower U.S. interest rates. The CME FedWatch Tool expects the Federal Reserve to leave interest rates unchanged for the remainder of the year, bearish for gold since it pays no interest.The dollar was lower early, with the ICE dollar index last seen down 0.11 points to 98.71. Treasury yields rose, with the U.S. two-year note last seen paying 3.814%, up 4.1 basis points, while the yield on the 10-year note was up 4.1 points to 4.322%.

$GCK6$GLD

Wire155d ago

Market Chatter: Nexstar Media's $6.2 Billion Tegna Merger Faces Restraining Order Extension

Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a a longer preliminary injunction is needed, Associated Press reported Friday.The merger was approved by the Federal Communications Commission but ran into antitrust lawsuits last month as eight state attorneys general and DirecTV sued to block the merger in a district court in California due to concerns about consumer prices and local journalism.Neither Nexstar Media nor Tegna immediately responded to' request for comment.Shares of Nexstar were up 3.4% in Friday trading.(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: $184.98, Change: $+6.16, Percent Change: +3.44%

$NXST

Sectors155d ago

Sector Update: Financial Stocks Slipping Friday Afternoon

Financial stocks were lower Friday afternoon, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was little changed.Bitcoin (BTC-USD) was increasing 1.5% to $72,873, and the yield for 10-year US Treasuries rose 2.6 basis points to nearly 4.32%.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher. The consumer price index advanced 0.9% last month, its strongest pace of growth since June 2022, the Bureau of Labor Statistics reported Friday. The latest print met a Bloomberg-polled consensus view. Prices rose 0.3% in February. Annually, inflation grew to 3.3% from February's 2.4% rise, falling short of Wall Street's 3.4% projection.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Ares Management (ARES) is planning to launch a flagship US direct lending fund with a preliminary target size of roughly $20 billion, significantly smaller than its previous record-breaking investment vehicle of $33.6 billion, Bloomberg reported. Ares shares fell past 5%.Fair Isaac (FICO) shares dropped 13% after Barclays cut its price target on the stock to $1,950 from $2,400 while maintaining its overweight rating.Blackstone (BX) is mulling an initial public offering that could raise $2 billion for a firm that will acquire data centers, Bloomberg reported. Blackstone shares were down 2.3%.

$ARES$BX$FICO

Treasury155d ago

CIBC On the Week Ahead In Economics

In Canada, CIBC says, the release Wednesday of both Manufacturing and Wholesale data for February should confirm the sharp rebounds already signaled by the advance estimates. For Manufacturing Shipments, CIBC is forecasting a 3.5% monthly gain, compared to a consensus 3.8%. For Wholesale Sales ex-petroleum CIBC sees a 2.5% rise.However, CIBC adds, housing starts figures for March on Friday are likely to show building activity stilltracking a lower level than the 2025 average. CIBC estimates 204k versus a consensus 250k.Also on the CIBC calendar for next week are the release of Building Permits for February on Monday and then the auction of $3 billion in 30-YR CANADAS on Wednesday and auction of $5.5 billion in 2-YR CANADAS on Thursday.Thursday will see the release of March Existing Home Sales and Friday will bring February Int'l Security Transactions.Price: $143.21, Change: $+1.62, Percent Change: +1.14%

$CXY$CM.TO

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US Markets155d ago

Equity Markets Mixed Intraday Ahead of US-Iran Talks

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$AVGO$CRWV$NOW$NVDA$SMCI