Financial News · Live Terminal

Page 449 of 3613

US Hits Iran's Hormuz Shipping Network, Shadow Fleet With New Sanctions

The US sanctioned two Iranian companies that charge for safe passage through the Strait of Hormuz and eight tankers linked to the country's crude exports, accusing the Islamic Revolutionary Guard Corps-backed network of operating an extortion scheme, the Treasury Department said on Wednesday.Treasury's Foreign Assets Control said the sanctions target the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, which allegedly force vessels to buy mandatory maritime "insurance" to transit Hormuz."The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC's terrorism, aggression, and repression," US Secretary of the Treasury Scott Bessent said in a statement.Treasury said that HormuzSafe accepted payments in Bitcoin and other digital assets to help circumvent Western sanctions. The US alleged that the company was generating revenue for the IRGC while giving Tehran greater control over shipping activity in the strategic waterway.The US also targeted eight companies operating in Iran's petroleum sector and identified eight tankers as blocked property.OFAC said that the vessels had transported millions of barrels of Iranian crude oil and petroleum products, primarily to China and the UAE.The Department has blacklisted more than 100 vessels linked to Iran's so-called "shadow fleet" since the beginning of the year.

Wire14d ago

Stifel Nicolaus Adjusts Biogen Price Target to $242 From $214

Biogen (BIIB) has an average rating of overweight and mean price target of $230.32, 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: $211.30, Change: $+5.69, Percent Change: +2.77%

$BIIB

Wire14d ago

Goldman Sachs Adjusts Price Target on Cognizant Technology Solutions to $70 From $75

Cognizant Technology Solutions (CTSH) has an average rating of overweight and mean price target of $59.39, 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: $55.79, Change: $+5.48, Percent Change: +10.89%

$CTSH

Commodities14d ago

WEC Energy Q2 Electricity Sales Drop on Lower Wholesale, Resale Volumes

WEC Energy (WEC) reported Q2 earnings Wednesday, showing electricity sales of 10.2 million megawatt-hours, down from 10.7 million MWh a year earlier.Retail electricity sales increased to 9 million MWh for the quarter ended June 30, up from 8.7 million MWh a year earlier.Residential sales declined to 2.5 million MWh for the quarter, compared with 2.6 million MWh for the same quarter last year.Small commercial and industrial sales remained broadly flat at 3.1 million MWh, while large commercial and industrial electricity sales rose to 3.3 million MWh, up from 3 million MWh a year earlier.Wholesale sales declined to 395,100 MWh for the quarter, down from 417,700 MWh for the same quarter last year. Resale volumes fell to 770,400 MWh, down from 1.5 million MWh.Natural gas sales totaled 1,057.2 million therms, down from 1,100.5 million therms a year earlier.Retail gas sales fell to 447 million therms for the quarter, down from 497 million therms, while transportation volumes increased to 610.2 million therms, up from 604 million therms.Residential natural gas sales declined to 282 million therms, down from 320 million therms, while commercial and industrial volumes decreased to 165 million therms from 177 million therms a year earlier, WEC added.Heating degree days declined across most of WEC Energy Group's service territories during Q2, including a 20.4% drop for Wisconsin Gas and Wisconsin Electric and a 19.2% decline for Peoples Gas and North Shore Gas from a year earlier.Price: $112.45, Change: $-1.17, Percent Change: -1.03%

$WEC

Wire14d ago

Clearwater Shows 'Greenshoots' in SBS Paperboard, RBC Says

Clearwater Paper (CLW) is showing "greenshoots" in solid bleached sulfate, or SBS, paperboard following its Q2 results, RBC Capital Markets said in a Wednesday note.The note said its Q2 adjusted EBITDA was below consensus but within the company's guidance range, while the mid-point of Q3 guidance was above consensus.The report said the SBS paperboard showed "somewhat" improving conditions although benchmark price increases will take time to follow through amid some costs pressures."We expect supply-demand balance will likely continue to improve somewhat on lower imports and substitution between paperboard grades," the note said."We continue to view the stock as cheap," it said. RBC raised its price target to $21 from $19 and kept its outperform rating.Price: $21.37, Change: $+3.86, Percent Change: +22.04%

$CLW

Wire14d ago

Loop Capital Adjusts Price Target on Royal Caribbean Group to $327 From $304

Royal Caribbean Group (RCL) has an average rating of overweight and mean price target of $343.68, 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: $324.42, Change: $+1.92, Percent Change: +0.60%

$RCL

Wire14d ago

Northcoast Research Adjusts Veralto Price Target to $110 From $105

Veralto (VLTO) has an average rating of overweight and mean price target of $108.69, 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: $98.35, Change: $-0.13, Percent Change: -0.13%

$VLTO

Wire14d ago

Repligen's Diversity of Growth Drivers Support Return to Mid-Teens Organic Sales Growth, RBC Says

Repligen's (RGEN) diversity of growth drivers and a strengthening bioprocess market should support a return to mid-teens organic sales growth, RBC Capital Markets said in a Tuesday note.The Q2 results and guidance boost, reflecting a stronger H2 outlook, keep the company's growth story intact, while high-teens growth in emerging biotech indicates that the rebound in customer base is sustainable, according to the note.While equipment sales in Q2 were lighter, the company pointed to robust sequential order growth while highlighting the positive implications for 2027, the analysts said.RBC reiterated its outperform rating and boosted its price target to $185 from $160.Price: $144.49, Change: $-0.85, Percent Change: -0.58%

$RGEN

Wire14d ago

UBS Adjusts Price Target on Automatic Data Processing to $276 From $270

Automatic Data Processing (ADP) has an average rating of hold and mean price target of $258.14, 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: $279.25, Change: $+15.08, Percent Change: +5.71%

$ADP

Wire14d ago

Goldman Sachs Adjusts Sherwin-Williams Price Target to $420 From $415

Sherwin-Williams Company (SHW) has an average rating of overweight and mean price target of $390.37, 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: $344.54, Change: $-9.73, Percent Change: -2.75%

$SHW

Wire14d ago

Vertical Research Adjusts Price Target on General Dynamics to $450 From $405

General Dynamics (GD) has an average rating of overweight and mean price target of $400.75, 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: $388.52, Change: $-4.67, Percent Change: -1.19%

$GD

Mining & Metals14d ago

Curaleaf Holdings to Open New Florida Dispensary in Boynton Beach

Curaleaf Holdings (CURA.TO) will open its new Florida dispensary in Boynton Beach on July 31, it said Wednesday.The new dispensary will bring the cannabis-retailer's footprint to 75 stores in Florida, and to 167 nationwide."Boynton Beach marks our sixth opening in Florida this year, with the state now representing nearly half of our retail footprint," said Chief Executive Officer Boris Jordan.The company's shares were last seen down C$0.54, or 4.4%, to C$11.58 on the Toronto Stock Exchange.Price: $11.56, Change: $-0.56, Percent Change: -4.62%

$CURA.TO$HMMJ.TO

US Markets14d ago

CBIZ Agrees to Go Private in $5 Billion Acquisition Deal

CBIZ (CBZ) agreed to be acquired by accounting and advisory firm Grant Thornton Advisors in an all-cash deal worth about $5 billion, creating one of the largest providers of professional services, tax and advisory services in the US.Shareholders of CBIZ will receive $55 per share in cash, representing a premium of roughly 54% to the professional services advisor's 30-day average price, the companies said in a joint statement on Wednesday.New Mountain Capital, which invested in Grant Thornton Advisors in 2024, will invest "incremental equity" to support the transaction, according to the statement.CBIZ's stock jumped 17% in Wednesday trade, taking its year-to-date gain to 8.3%.Following the transaction, Grant Thornton expects to become the fifth-largest provider of professional services, tax and advisory services in the US, with more than $5 billion in annual domestic revenue. The combined platform will operate across more than 20 countries, with almost $7.5 billion in revenue.The deal, which requires approval from CBIZ's shareholders and clearance from regulators, is expected to close in the fourth quarter. Following completion, the company will be delisted from the New York Stock Exchange."By combining our multinational platform with CBIZ's strong market presence, we're broadening our ability to support businesses through every stage of growth," Grant Thornton Advisors Chief Executive Jim Peko said in a statement. "Together, we'll bring the quality, scope and capabilities clients need to navigate an increasingly complex and rapidly evolving business environment."CBIZ CEO Jerry Grisko seemed to concur with Peko on the transaction enhancing service offerings for clients.Grant Thornton Advisors plans to spin off CBIZ's benefits and insurance services division. CBIZ could evaluate alternative acquisition proposals by Aug. 27.Separately, CBIZ reported second-quarter adjusted earnings of $0.91 per share, down from $0.99 the year before, but ahead of the FactSet-polled consensus of $0.72. Revenue edged down 0.2% to $682.2 million, but missed the Street's view for $698 million.The company withdrew its 2026 outlook in light of its proposed acquisition.Price: $54.70, Change: $+8.00, Percent Change: +17.13%

$CBZ

Commodities14d ago

OGE Operating Expense Rise in Q2

OGE Energy (OGE), the parent company of Oklahoma Gas and Electric Company, reported Wednesday that Q2 2026 operating expenses rose to $302.6 million from $293.9 million for the same quarter in 2025.Fuel, purchased power, and direct transmission expenses declined to $217.7 million from $261.1 million in the second quarter of 2025. Meanwhile, other operation and maintenance expenses increased to $138.7 million from $127.1 million.Depreciation and amortization expenses fell to $138.1 million from $140.6 million in the year-ago quarter, while taxes other than income edged down to $25.8 million from $26.2 million.Price: $48.16, Change: $-1.15, Percent Change: -2.32%

$OGE

Mining & Metals14d ago

S&P/TSX Composite Index Down 470 Points at Midday as the Middle East Conflict Resumes

The S&P/TSX Composite Index was down 470 points at midday Wednesday after President Trump said Tuesday night the United States will hit Iran "hard" for an attempted surprise attack on American forces in the Middle East and Saudi Arabia joined in US strikes against several sites in eastern Iraq.The energy sector is up 3%, boosted by higher oil prices, followed by telecommunications, up 1.5%.Base metals and financials are the worst performers, down 3.2% and 2.5%, respectively.Gold is down 0.7% to $4,070.50, the lowest level since last October.In stocks, Allied Gold (AAUC.TO) is 18% lower, to C$24.24, after it announced the termination of an arrangement agreement with Zijin Gold. Zijin will instead make a strategic investment of $295 million, for a 9.2% equity stake in Allied.Intact Financial (IFC.TO)is down 4% to C$292.64 after it reported lower Q2 earnings that were due to higher catastrophe losses in Canada and large losses mainly due commercial fires in the United Kingdom.

S&P/TSX CompositeS&P/TSX Composite$AAUC.TO$IFC.TO

Wire14d ago

Bloom Energy's Q2 Results Above Most Bullish Estimates, RBC Capital Markets Says

Bloom Energy (BE) reported Q2 results that were above even the most bullish expectations and raised its full-year revenue guidance as fuel cell sales continue to grow, RBC Capital Markets said in a note Tuesday.The company now expects 2026 revenue in a range of $3.9 billion to $4.2 billion, a $450 million or 12.5% increase at the midpoint.The investment firm projected revenue to increase to about $7.4 billion in 2028, driven by strong sales of fuel cells to large data center customers.The firm said Bloom Energy is in the early stages of a large demand ramp and its ability to provide power in under 90 days remains its "superior" value proposition, highlighting the strength of its potential pricing power.RBC has an outperform rating on Bloom Energy and a $335 price target.Shares of the company were down 2% in Wednesday trading.Price: $163.46, Change: $-3.38, Percent Change: -2.03%

$BE

Wire14d ago

Update: Market Chatter: Carlyle Set to Cede Control of Anthesis to Bridgepoint

(Update to specify that Bridgepoint Credit, a subsidiary of Bridgepoint Group, will become majority owner of Anthesis.)Bridgepoint Group's Bridgepoint Credit is set to become the majority owner of Carlyle Group (CG) portfolio company Anthesis Consulting Group through a recapitalization transaction, Bloomberg reported Wednesday, citing a company statement.Bridgepoint and Carlyle did not immediately reply to requests 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: $44.98, Change: $-1.49, Percent Change: -3.21%

$CG

Oil & Energy14d ago

Market Chatter: Adnoc Sells UAE Crude to Asian Buyers at Premiums in 7th Tender

UAE's Adnoc sold at least 12 million barrels of spot crude to Asian refiners and trading companies at premiums in its latest tender, as renewed US-Iran hostilities disrupted supply flows and triggered a rush for alternative barrels, Reuters reported on Wednesday, citing trade sources.Indian Oil bought 2 million barrels of Upper Zakum crude for end-August loading at prices ranging from flat to a premium of $1 per barrel against August Dubai quotes on a delivered basis.Unipec, the trading arm of Sinopec, along with PetroChina and Sinochem, each bought 2 million barrels of Upper Zakum crude at premiums of about $3/bbl to $4/bbl to September Dubai quotes. The cargoes are scheduled for delivery in September and October.Japan's Idemitsu Kosan purchased 2 million barrels of Das crude at a premium of about $1/bbl to September Dubai quotes on a free-on-board basis. Adnoc 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.)

Asia Markets14d ago

Swiss Stocks Retreat as US Fed Rate Decision Takes Spotlight; UBS Shares Up

The Swiss Market Index slipped back into the red on Wednesday, closing 0.58% lower, as investors digest a fresh batch of economic data prints and corporate updates while awaiting the US Federal Reserve's monetary policy decision."With a 32% chance of a rate hike today priced as of last night, this is the most uncertain that the market has been on whether the Fed will change rates going into a meeting since December 2018, when the eventual 25bps rate hike was about 65% priced the day before," analysts at Deutsche Bank Research said. "In terms of today's decision, our US economists expect the Fed to leave rates unchanged but see the risks of a hike as significant with the renewed escalation in the Middle East complicating the inflation outlook. If the Fed holds rates steady, they expect at least a couple of dissents in favour of a hike."Speaking of the Middle East, oil prices edged higher as tensions in the region escalated after coordinated US-Saudi Arabian airstrikes killed 20 Iran-backed paramilitary members in Iraq in retaliation for drone attacks on Saudi energy facilities. Reuters said the latest development followed Tehran's rejection of an Omani proposal for joint control of the Strait of Hormuz.Back home, data from UBS & CFA Society Switzerland showed that the country's economic sentiment index improved to 10 points in July from -25 points in June, reaching its highest level in 2026 despite the renewed geopolitical tensions. A majority of the analysts surveyed also expect the Swiss National Bank (SNBN.SW) to maintain its key rate at 0% over the next 12 months.Over to corporates, UBS Group (UBSG.SW) posted a year-over-year increase in first-half 2026 net profit attributable to shareholders to $5.84 billion from $4.09 billion, while total revenue climbed to $27.94 billion from $24.67 billion. The Swiss banking group is also launching a new share repurchase program of $3 billion, which is set to run until the end of the second quarter of 2027, at the latest. The stock added 0.90% at closing."UBS reported a strong set of results, not unexpected post peer results. The top line benefited from supportive markets and operating leverage meant a large part went through to profits. The [share buyback] announcement points to a slower run rate than in consensus but the timeline leaves room to at least deliver in line with expectations," RBC Capital Markets said in a quick take note. "Even if low, the small positive NNA in the Americas is encouraging. There is no update on TBTF at this stage (as expected) but the parent bank ratio further increased."Computer peripherals company Logitech International (LOGN.SW) and energy technology company Landis+Gyr Group (LAND.SW) also reported earnings.Meanwhile, Sandoz Group (SDZ.SW) confirmed Brazil approved Owozy medication as a treatment for type 2 diabetes. The Swiss drugmaker will commercialize Owozy in the South American country in partnership with Adalvo, which also developed the drug, expecting the launch to take place in the second half. At the end of the trading day, Sandoz shares were up 3.72%.

^SSMI$LAND.SW$LOGN.SW$SDZ.SW$UBSG.SW

Mining & Metals14d ago

BeMetals Says the Effective Date of Its Name Change is July 31

BeMetals (BMET.V) on Wednesday said it received approval from the TSX Venture Exchange to change its name to "Lightning Resource Corp.", effective July 31.The company's new ticker symbol will be "LTNG".BeMetals also added that its acquisition of all of the non-Yukon mineral exploration projects of Prospector Metals, is still pending.Shares of the company were last seen unchanged at C$0.49 on the TSX Venture Exchange.

$BMET.V

Showing 8961-8980 of 72255

Asia Markets14d ago

Swiss Stocks Retreat as US Fed Rate Decision Takes Spotlight; UBS Shares Up

^SSMI$LAND.SW$LOGN.SW$SDZ.SW$UBSG.SW