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China-Bound VLCCs Reportedly Transit Through Bab El-Mandeb Strait Despite Houthi Threats

Two China-bound very large crude carriers loaded with a total of 4 million Saudi Arabian crude barrels are crossing the Red Sea through the Bab el-Mandeb strait on Thursday despite a naval blockade of the country by Yemen's Houthis, according to multiple media reports.A Singaporean-flagged VLCC was detected sailing past Yemen and towards the port of Qinzhou in southern China. On Tuesday, the vessel had reversed course before resuming its southward journey late Wednesday. It was followed by a Chinese-flagged VLCC, which indicated that it would unload at the Guangdong province's port of Huizhou, Reuters reported.Both are operated by China's Cosco Shipping, according to Bloomberg News.Five oil tankers and a liquefied petroleum gas carrier were among 27 vessels transited through the Bab el-Mandeb Strait on Wednesday, compared to 38 the day before, the report said citing LSEG data.Earlier in the day, the rebels group reportedly claimed responsibility for the missile and drone strikes on two Saudi Arabian tankers, Reuters said.

Japan1d ago

US Equity Futures Drop Pre-Bell as Mid-East Conflict Expands to Potentially Include Red Sea

US equity futures were lower pre-bell Thursday as the traders considered the possibility of the Middle East conflict spreading to a new front in the Red Sea, lifting oil prices closer to the $100 mark.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.9% lower.The US launched attacks on Iran for the 12th consecutive day, US Central Command said in a post on X. Iran-backed Houthis in Yemen have claimed they attacked two Saudi Arabian oil tankers in the Red Sea for allegedly violating their announced blockade, in a potential new front for the war, according to multiple media reports.Alphabet's (GOOG, GOOGL) Google posted higher earnings and revenue for Q2, but the company's stock dropped 4.7% in premarket activity as it increased its forecasted capital expenditures to as high as $205 billion.Intel (INTC) is is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.22 per share on revenue of $14.44 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.9% at $98.64 per barrel and US West Texas Intermediate crude 4.5% higher at $90.69 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended July 18, up from 208,000 in the prior week, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC

Wire1d ago

FirstService Q2 Adjusted Earnings, Revenue Increase

FirstService (FSV) reported Q2 adjusted earnings Thursday of $1.75 per diluted share, up from $1.71 a year earlier.Analysts polled by FactSet expected $1.69.Revenue for the quarter ended June 30 was $1.50 billion, up from $1.42 billion a year earlier.Analysts expected $1.46 billion.Shares of the company were up over 5% in recent premarket activity.Price: $149.00, Change: $+7.37, Percent Change: +5.20%

$FSV

Mining & Metals1d ago

Tilray Brands Launches New Cannabis Brand ZONNA

Tilray Brands (TLRY.TO, TLRY) launched ZONNA, a new cannabis brand offering "fast-acting" THC pouches, it said Thursday.The product will be available in a format that includes 15 pouches per container, with each ZONNA pouch containing 10 mg of THC, said the company."As preferences move toward products that are discreet, convenient, precise, and smoke-free, ZONNA reflects our ability to anticipate where the category is going and deliver differentiated experiences that meet consumers there," said Tilray Canada President Blair MacNeil.Shares were down 2% to C$5.88 by the close in Toronto on Wednesday.

$HMMJ.TO$TLRY.TO

Mining & Metals1d ago

First Lithium Minerals Closes First Tranche of LIFE Offering and Private Placement

First Lithium Minerals (FLM.CN) closed the first tranche of its non-brokered private placement financing which consisted of the issuance of 8.9-million NFT units at C$0.11 per NFT unit, and 975,000 FT units at C$0.15 per FT unit, it said late Wednesday.Each NFT unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to buy a share for C$0.18 for a three-year period from the closing date. Each FT unit is comprised of one common share that qualifies as a "flow-through share," and one-half of one warrant, it said.The company concurrently closed a private placement of up to 6-million units (PP units) at C$0.11 per PP unit for C$660,548. Each PP unit consists of one common share and one-half of one common share purchase warrant, with each PP warrant exercisable to buy a share for C$0.18 for a three-year period.Shares of the company closed up 5.3% to C$0.10 on Wednesday on the Canadian Securities Exchange.

$FLM.CN

Asia Markets1d ago

Emirati Bourses Close Higher as Financial Stocks Rally

Shares in the United Arab Emirates were back in the green on Thursday as the FTSE ADX General Index gained 0.708%, while the DFM General Index added 0.237%.With the earnings season in full swing, investors welcomed the latest corporate earnings reports from the region's major lenders, including First Abu Dhabi Bank (ADX:FAB) and Emirates NBD Bank (DFM:EMIRATESNBD).First Abu Dhabi Bank was the Abu Dhabi bourse's most traded by value during the session and closed 6.26% higher. The personal and private banking group recorded a higher first-half attributable net profit driven by a 7% annual growth in operating income.Emirates NBD Bank's attributable profit for the period also rose amid strong growth in net interest and non-funded income, supported by disciplined cost management. Its shares closed the session 3% in the green.In other news, DP World partnered with the Fujairah Ports Authority to develop the Al Rugaylat container and Dibba Al Fujairah Port in Fujairah under a 50-year concession agreement. The initiative aims to attract investment, enhance economic infrastructure, and create new job opportunities.Across the pond, the US Central Command concluded a 12th consecutive night of strikes on Iran amid no signs of de-escalation. Keeping sentiment subdued were US President Donald Trump's threats to bomb and destroy Iran's bridges and power plants if the Middle Eastern country attacked any ship in the Strait of Hormuz."So far, the official news organs in Iran report that Iran isn't backing down on its claims to the Strait of Hormuz and that its officials have even dismissed US President Donald Trump's claim that Iran is seeking to begin a new round of negotiations, effectively shutting down the reports of 'peace' that emerged first on Monday. So Brent crude is higher again today by about USD 4/bbl, and back up to the levels not seen since early June, before the US-Iran MoU was signed," Macquarie said in a note.

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Equities1d ago

JPMorgan Adjusts Price Target on EQT to $65 From $68, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $67.92, 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)

$EQT

Mining & Metals1d ago

A&W Reports Lower Q2 Net Income

A&W Food Services of Canada (AW.TO) reported Q2 net income of C$0.46 per diluted share from C$0.50 a year earlier.Analysts polled by FactSet expected C$0.54.Revenue for the quarter ended June 14 was C$70.8 million from C$68.8 million a year earlier, the company said. Analysts expected C$70 million.

$AW.TO

Commodities1d ago

Trade Association Calls for Germany Offshore Wind Energy Act Reform

The German Federal Association for Offshore Wind Energy, or BWO, called for an immediate amendment to Germany's Offshore Wind Energy Act, including a reform to the tendering process, to support the industry's rapid expansion.Germany connected 84 offshore wind turbines, with an equivalent capacity of around 1.1 gigawatts, to the grid in H1, according to BWO's report on Tuesday. This brings the total number of turbines installed in the German North and Baltic Seas to 1,764, equivalent to 10.8 gigawatts.On top of this, 22 more turbines, totaling 323 megawatts in capacity, are under construction, while 2.6 GW of projects have received final investment decisions. Another 17.5 GW of projects are awaiting FIDs.With the current industry plans, 30 GW of offshore wind capacity is expected to be installed in the country by 2032, according to BWO."Although the expansion of offshore wind energy is currently progressing, the results of the latest tender rounds show that the existing regulations no longer reflect current market conditions," the association said."In particular, the lack of bids in August 2025 demonstrates the urgent need for a swift amendment to the Offshore Wind Energy Act."BWO highlighted that there should be a modification to the tendering process, to include an indexed, two-sided contracts for difference model to minimize financial risks."It is also necessary to create a practical hedging mechanism for long-term power purchase agreements so that PPAs become financially viable for banks and acceptable to small and medium-sized industrial enterprises," BWO said.The proposed amendments aim to boost project realization and ensure competitive electricity pricing for consumers, according to the statement.

Wire1d ago

Vita Coco Q2 Net Income, Revenue Increase; 2026 Revenue Guidance Raised

Vita Coco (COCO) reported Q2 net income Thursday of $0.82 per diluted share, up from $0.38 a year earlier.Analysts polled by FactSet expected $0.56.Revenue for the quarter ended June 30 was $216.2 million, up from $168.8 million a year earlier.Analysts expected $210.6 million.For 2026, the company lifted its revenue guidance to between $790 million and $805 million, up from its prior guidance of $720 million to $735 million. Analysts expect $738.6 million.Shares of the company were up over 9% in recent premarket activity.Price: $81.31, Change: $+6.86, Percent Change: +9.21%

$COCO

Mining & Metals1d ago

Aurora Cannabis Says Niagara Facility Obtains EU-GMP Certification

Aurora Cannabis (ACB.TO) said Thursday that its subsidiary Safari Flower Company, has received European Union Good Manufacturing Practice (EU-GMP) certification for its Niagara facility.The certification is granted for a three-year term. Aurora acquired Safari Flower in April.

$ACB.TO$HMMJ.TO

US Markets1d ago

Stocks Fall Pre-Bell Amid Rising Middle East Tensions; Traders Parse Alphabet, Tesla Results

US equity markets were tracking in the red before the opening bell Thursday and oil prices rose amid escalating tensions in the Middle East, while investors digest the latest financial results of Alphabet (GOOG, GOOGL) and Tesla (TSLA).The S&P 500 and the Dow Jones Industrial Average declined 0.2% each in premarket activity, while the Nasdaq was off 0.3%. The indexes ended the previous trading session mostly down.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea on Wednesday, raising concerns that the conflict could spread to a new front in the Middle East, CNBC reported. The UK Maritime Trade Operations said Wednesday that an "unknown projectile" struck a Saudi Arabian oil tanker around 70 nautical miles southwest of Al Shuqaiq, Saudi Arabia.West Texas Intermediate crude oil climbed 3.7% to $89.99 a barrel before the open, while Brent increased 4.4% to $98.18.The US Central Command said Wednesday its forces struck Iran for the 12th consecutive night. In a social media post, President Donald Trump vowed to destroy an Iranian bridge or power plant every time Tehran attacks ships in the Strait of Hormuz.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to have targeted US military equipment in response to recent American strikes, CNN reported Wednesday.Treasury yields were trending higher in premarket action, with the two-year rate rising 1.3 basis points to 4.32% and the 10-year rate adding 1.8 basis points to 4.68%.Alphabet's (GOOG, GOOGL) class A and C shares were down roughly 4% each pre-bell after the Google parent announced in its second-quarter results that its capital expenditure doubled year over year. Tesla's stock dropped 5.9% as the electric vehicle manufacturer recorded an unexpected year-over-year decrease in its second-quarter earnings amid higher expenses related to research and development and artificial intelligence initiatives.ServiceNow (NOW) jumped 7.6% while IBM (IBM) edged down 0.6% early Thursday following their latest financial results.T-Mobile US (TMUS), Thermo Fisher Scientific (TMO), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA) and Honeywell International (HON) are scheduled to release their quarterly earnings before the bell, among others. Intel (INTC) and Deckers Outdoor (DECK) are due to announce their results after the markets close.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Chicago Fed national activity index for June. The Kansas City Fed manufacturing index follows at 11 am.Gold fell 1.5% to $4,092 per troy ounce, while bitcoin slipped 0.2% to $65,732.

Dow JonesNasdaq CompositeS&P 500$BX$CMCSA$DECK$GOOG$GOOGL$HON$IBM$INTC$LMT$NOW$TMO$TMUS$TSLA$UNP

Research1d ago

Oppenheimer Initiates Coverage on Palisade Bio With Outperform Rating, $8 Price Target

$PALI

Research1d ago

William Blair Initiates Core & Main at Market Perform

Core & Main (CNM) has an average rating of overweight and mean price target of $60.29, 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)

$CNM

Research1d ago

Raymond James Initiates Coverage on Signet Jewelers With Outperform Rating, $105 Price Target

$SIG

Research1d ago

Northcoast Initiates Comtech Telecommunications at Buy With $2.50 Price Target

$CMTL

Research1d ago

Mizuho Securities Initiates Coverage on NeuroPace With Outperform Rating, $22 Price Target

$NPCE

Research1d ago

KeyBanc Initiates AAON at Sector Weight

AAON (AAON) has an average rating of overweight and mean price target of $149.75, 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)

$AAON

Asia Markets1d ago

Soft Earnings, Rising Crude Prices Lower European Bourses Midday

European bourses tracked moderately lower midday Thursday as traders mulled earnings reports and rising oil prices.Shares of Nestle fell 7.1% midday after the Swiss food-giant reported soft sales and solidly lower profits in H1, due in part to higher coffee and cocoa prices.Oil and property stocks led gains on continental trading floors, while food, tech and bank shares lagged.Front-month North Sea Brent crude-oil futures were up 5% at $98.77 a barrel, in midday trades.Investors also eyed Wall Street futures in the red, but largely higher closes overnight on Asian exchanges.The pan-continental Stoxx Europe 600 Index was off 0.6% mid-session.The Stoxx Europe 600 Technology Index was down 1.5%, and the Stoxx 600 Banks Index lost 1.1%.The Stoxx Europe 600 Oil and Gas Index rose 1.7%, while the Stoxx 600 Europe Food and Beverage Index declined 3.5%.The REITE, a European REIT index, rose 1.3%.On the national market indexes, Germany's DAX was down 0.6%, and the FTSE 100 in London lost 0.2%. The CAC 40 in Paris was down 1.1%, and Spain's IBEX 35 eased 0.6%.Yields on benchmark 10-year German bonds were higher, near 3.19%.Front-month North Sea Brent crude-oil futures were up 5% at $98.77 a barrel.The Euro Stoxx 50 volatility index was up 8% at 18.38, but still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International1d ago

US Dollar Rises Early Thursday Before Weekly Jobless Claims, Chicago Fed National Index

The US dollar rose against its major trading partners early Thursday, except for a decline against the Canadian dollar, ahead of the release of weekly jobless claims and the Chicago Federal Reserve's national index for June, both at 8:30 am ET.Weekly natural gas stocks are due to be released at 10:30 am ET, followed by the Kansas City Fed's manufacturing index for July at 11:00 am ET.A quick summary of foreign exchange activity heading into Thursday:EUR/USD fell to 1.1405 from 1.1411 at the Wednesday US close but was up slightly from a level of 1.1404 at the same time Wednesday morning. No change in the European Central Bank's policy rate is expected when its statement is released at 8:15 am ET. Eurozone consumer confidence data for July follows at 10:00 am ET.GBP/USD fell to 1.3367 from 1.3374 at the Wednesday US close and 1.3370 at the same time Wednesday morning. UK car registrations growth accelerated in June while manufacturing sector expectations remained negative in July, according to data released earlier Thursday. The next Bank of England meeting is scheduled for July 30.USD/JPY rose to 163.3820 from 163.1497 at the Wednesday US close and 163.0341 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.USD/CAD fell to 1.4080 from 1.4085 at the Wednesday US close and 1.4097 at the same time Wednesday morning. Canadian retail sales data for May are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Sept. 2.

$EUR/USD$GBP/USD$USD/CAD$USD/JPY

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