Financial News · Live Terminal

Goldman Sachs Downgrades Gemini Space Station to Sell From Neutral, Trims Price Target to $4 From $4.75

Gemini Space Station (GEMI) has an average rating of hold and mean price target of $6.33, 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)

$GEMI

Adani Ports and Special Economic Zone Declines to Comment on Reported Bid for UK Port Operator

Adani Ports and Special Economic Zone (NSE:ADANIPORTS, BOM:532921) declined to comment on a media report that it is considering a bid for a controlling stake in U.K.-based port operator Associated British Ports.The company does not comment on market speculation or rumours, it said in a Wednesday filing with the Indian bourses.The Economic Times reported on Tuesday that Adani Ports is evaluating a bid for Associated British Ports, with two Canadian pension funds looking to sell their combined 63.9%.

BOM:532921NSE:ADANIPORTS

Earnings Flash (TIH.TO) Toromont Industries Reports Q2 Revenue C$1.60B, vs. FactSet Est of C$1.49B

$TIH.TO

Earnings Flash (ACO-X.TO) ATCO Ltd. Posts Q2 Adjusted EPS C$1.01 vs. FactSet Est of C$0.99

$ACO-X.TO

Western Energy Services Q2 Net Loss Narrows

Western Energy Services (WRG.TO) reported second quarter net loss of C$0.12 per share, narrowed from a loss of C$0.14 per share a year earlier.Revenue for the quarter ended June 30 was C$38.6 million, compared to C$40.0 million a year earlier, the company added after markets closed Tuesday.One analyst polled by FactSet expected revenue of C$40.0 million.

$WRG.TO

William Blair Downgrades CoStar Group to Market Perform From Outperform

CoStar Group (CSGP) has an average rating of overweight and mean price target of $39.28, 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)

$CSGP

Seaport Global Downgrades Western New England Bancorp to Neutral From Buy

$WNEB

Wells Fargo Downgrades RLI to Underweight From Equalweight, Price Target is $57

RLI (RLI) has an average rating of hold and mean price target of $60.50, 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)

$RLI

CGI Posts Higher Fiscal Q3 Adjusted Net Earnings YoY

CGI (GIB-A.TO) reported fiscal third-quarter adjusted net earnings of C$478.3 million, or C$2.29 per share, up from C$470.1 million, or C$2.10 per share, in the prior-year period.Analysts polled by FactSet expected C$2.28.Revenue was C$4.19 billion, up from C$4.09 billion.Analysts expected C$4.18 billion.CGI declared a quarterly cash dividend of C$0.17 per share, payable Sept. 18 to shareholders of record at the close of business on Aug. 14.

$GIB-A.TO

Chubu Electric Fiscal Q1 Declines; Revenue Climbs

Chubu Electric Power (TYO:9502) profit attributable to owners of the parent fell 59% to 35.2 billion yen for the fiscal first quarter from 85.3 billion yen a year earlier.The energy company's basic profit per share was 46.60 yen, compared with 112.98 yen a year earlier, according to a Tokyo bourse filing on Wednesday.Operating revenue rose 3.2% to 825.8 billion yen for the three months ended June 30 from 800.3 billion yen a year ago.For the fiscal year ending March 31, 2027, the company expects profit attributable to owners of parent of 160 billion yen, profit per share of 211.81 yen and operating revenue of 3.900 trillion yen.The company plans to pay interim and year-end dividends of 35 yen per share each for the current year, unchanged from the year-ago period.

TYO:9502

Earnings Flash (CU.TO) Canadian Utilities Posts Q2 Adjusted EPS C$0.51 vs. FactSet Est of C$0.48

$CU.TO

US Markets19d ago

Petrochemicals Group Sabic's First-half Loss Narrows Amid Higher Selling Prices, Reduced Volumes

Saudi Basic Industries (SASE:2010), d/b/a Sabic, on Wednesday booked a smaller net loss in the first half of 2026, as higher average selling prices partially offset the impact of reduced sales volumes.The Saudi Arabia-based petrochemicals manufacturer's net loss attributable to shareholders of the issuer for the six months ended June 30 narrowed year over year to 820 million Saudi riyals from 5.28 billion riyals. The result was also attributed to lower losses from discontinued operations and improved contributions from associates and non-integral joint ventures.Revenue, on the other hand, fell over the period to 50.96 billion riyals from 59.49 billion riyals, while operational profit dropped 27% to 2.16 billion riyals amid geopolitical uncertainties, supply disruptions and increased energy prices.In terms of shareholder returns, the company's board decided to distributed a cash dividend of 1.10 riyals per share for the first half, down from the year-ago 1.50 riyals per share. The dividend will be paid out on Sept. 1 to shareholders on record as of Aug. 11."While the current market environment continues to be challenging, our strong balance sheet and disciplined approach to capital allocation enable us to remain resilient while continuing to create value for our shareholders. And with the announcement of SAR 3.3 billion (US$ 880 million) in dividends for the first half of 2026, we continue our long-standing dividend track record even as we preserve flexibility to support our strategic priorities for long-term value creation," Chief Executive Officer Faisal Mohammed Alfaqeer said in an earnings release."At the same time, our corporate Transformation Program continues to deliver recurring EBITDA improvements, realizing US$ 547 million during the first half of 2026, maintaining our track toward our cumulative US$3 billion annual target by 2030."As of early Wednesday afternoon, Sabic's shares were trading 3% lower in Riyadh.

SASE:2010

Great-West Lifeco Q2 Base EPS up 15% YoY

Great-West Lifeco (GWO.TO) second-quarter base earnings advanced 15% to C$1.42 per share, from C$1.24 per share, the company said overnight Tuesday.The result beat the consensus analyst forecast of C$1.37 per share, according to FactSet.Base return on equity was 19.3%, up from the prior year period's 17.4%. Great-West credited earnings growth, capital deployment, and share buybacks for the higher base ROE.Great-West will pay a regular quarterly dividend of C$0.67 per share on Sept. 29, to shareholders of record on Sept. 1.

$GWO.TO

Correction: Zhongji Innolight's Chairman Proposes Share Buyback of Up to 8 Billion Yuan

(Corrects share buyback size in headline)Zhongji Innolight's (HKG:3308, SHE:300308) chairman and president, Liu Sheng, proposed to repurchase shares worth between 4 billion yuan and 8 billion yuan, according to a Shenzhen bourse filing on Wednesday.The shares will be bought back within 12 months after the board of directors' approval.The repurchased shares will be used for the company's equity incentive plans or employee stock ownership plans.The optical interconnect service provider's Shenzhen shares rose 2%.

HKG:3308SHE:300308

Jefferies Downgrades Cheesecake Factory to Hold From Buy, Adjusts Price Target to $88 From $75

Cheesecake Factory (CAKE) has an average rating of hold and mean price target of $85.47, 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)

$CAKE

Dow JonesNasdaq CompositeS&P 500

Earnings Flash (CPX.TO) Capital Power Corp Reports Q2 Revenue C$740M

$CPX.TO

International19d ago

Fed On Deck, Tech Bottom Steadies Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures were mostly higher pre-bell Wednesday as the global tech sector sell-off paused, and as traders await the latest news from the Federal Reserve.The US central bank will issue its rate decision in Washington at 2 pm ET, followed by Chair Kevin Warsh's 2:30 pm press conference.The CME Group FedWatch Tool estimates a 64.2% chance the Fed will hold steady, and a 35.8% chance the Fed will raise rates by 0.25%.In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.1% and the Dow Jones was off 0.3%.West Texas Intermediate crude oil traded up 4.7% to $83.00 a barrel in morning action.Index heavyweights Microsoft (MSFT) and Meta Platforms (META) are slated to report earnings after-bell.Asian exchanges traded mostly lower overnight on semiconductor and AI sector turmoil, and rising oil prices.European bourses tracked modestly lower midday on the continent.Ford (F) traded up past 5% pre-bell after the auto giant reported Q2 financial results and boosted guidance late Tuesday.On the economic calendar, in addition to the Fed policy statement, is the weekly EIA petroleum status report at 10:30 am ET, and the Atlanta Fed Survey of Business Uncertainty for July at 11 am.In premarket action, Bitcoin traded at $64,554, and 10-year US Treasuries offered 4.63%. Spot gold commanded $4,031 an ounce.