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Boardwalk REIT Reaffirms 2026 Guidance, Forms C$292 Million Co-Ownership

Boardwalk Real Estate Investment Trust (BEI-UN.TO) reported second quarter funds from operations of C$1.19 per unit, compared to C$1.16 per unit a year earlier.Rental Revenue for the quarter ended June 30 was C$160.9 million, compared to C$157.3 million a year earlier, Boardwalk added after markets closed Tuesday.Boardwalk also re-iterated its 2026 financial guidance.Additionally, Boardwalk announced the formation of a co-ownership with DGAM Canadian Private Real Estate Fund, L.P., managed by Desjardins Global Asset Management, with an initial portfolio valued at approximately C$292 million.The long-term partnership will focus on acquiring "high-quality multifamily communities" across Western Canada, Boardwalk said after markets closed Tuesday.DGAM Real Estate Fund will acquire a 50% interest in four apartment communities in Calgary, Alberta and Victoria, British Columbia totaling 328 suites for approximately C$146 million, it said. Boardwalk will retain 50% ownership interest, it added.

$BEI-UN.TO

Sectors19d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) retreating 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was flat.Unilever (UL) shares were down more than 2% pre-bell following a nearly 9% rise at the previous close. Reuters reported that the company agreed to protect the employment terms and conditions of workers in its European and UK food business for two years after its planned 2027 merger with McCormick (MKC). McCormick stock was fractionally higher.Ford Motor (F) shares rose more than 6% after the automaker lifted its full-year core profit outlook, while the company reported an unexpected year-over-year increase in its Q2 earnings and recorded revenue above market estimates.Lithia & Driveway (LAD) stock was 4% higher after the company reported higher Q2 adjusted earnings and revenue.

$F$LAD$MKC$UL$XLP$XLY

Oil & Energy19d ago

US-Saudi Consortium Nears Site Selection for Proposed $5 Billion Refinery Project

Mera Oil, a US-Saudi Arabia consortium of three investors, has now launched and is in the advanced stages of finalizing a host for its proposed $5 billion integrated refinery and energy export corridor, according to a statement on Wednesday.The consortium, which includes Texas-based energy development company MWG Enterprises, the Patel Family Office, and Saudi-based AHQ Group associate company PWS, has shortlisted three Gulf Cooperation Council sites outside the Strait of Hormuz and expects to confirm a host by the end of this year.However, it is open to proposals from another qualifying GCC jurisdiction before it announces its decision.Mera Oil intends to develop a 200,000-barrel-per-day integrated refinery which is connected with deepwater port infrastructure, large-scale crude and refined products storage, and marine export facilities.Phase one of the project targets an energy complex with energy-efficient refining technologies and advanced emissions control systems, with sustainable aviation fuel co-processing and carbon management capabilities also being considered."The product slate is focused on high-specification middle distillates, including ultra-low sulphur diesel and jet fuel, for selected import-dependent markets in the United States, the Atlantic Basin, the Gulf region and other international markets, subject to final engineering and offtake arrangements," the statement said.The project is expected to span across 1,200-1,500 acres of port-connected industrial land. Once the site is confirmed, it is expected to enter final site diligence and engineering design, with the first phase scheduled to be mechanically complete by the end of 2029, followed by commissioning and the start of commercial operations.The consortium is in talks with feedstock providers, including those beyond the GCC, with final arrangements expected to progress alongside the final host selection, the statement said.

Sectors19d ago

Sector Update: Tech Stocks Lower Pre-Bell Wednesday

Technology stocks were lower pre-bell Wednesday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.9% lower.United Microelectronics (UMC) shares were down more than 1% in premarket activity after falling 9% at the prior close. The company reported higher Q2 earnings and operating revenue and announced a phased expansion plan to boost semiconductor manufacturing capacity in Singapore and Taiwan.CGI (GIB) shares were 1.8% lower after the company reported lower-than-expected fiscal Q3 adjusted earnings and revenue.Parsons (PSN) shares fell more than 20% after the company reported a Q2 adjusted loss and cut its 2026 revenue guidance.

$GIB$PSN$UMC$XLK$XSD

Commodities19d ago

Spain's Zelestra Enters 140 MW PPA With Tesla, Secures $181 Million Financing

Spanish renewable energy developer Zelestra has entered into a power purchase agreement to supply Tesla (TSLA) with 140 megawatts of electricity from its Lumen Farm solar project in Texas, it said in a statement on Tuesday.Zelestra expects to start construction at Lumen Farm in northeast Texas by 2027 with operation by 2029, it said.The company already has a 57 MW power purchase agreement with Tesla for the output from its Brazatortas solar plants in Spain.Zelestra has a portfolio under development that totals more than 16 gigawatts of renewable power.Moreover, the company said Wednesday that it had secured $181 million in green project financing for its 176 MW Skull Creek solar farm in Anderson County, Texas, which is supported by a power purchase agreement with social media giant Meta.Zelestra secured the financing facility through Natixis Corporate and Investment Banking, it said.The under-construction Skull Creek project is expected to begin generation by the end of 2027.

$TSLA

Asia19d ago

Hyundai Engineering & Construction Unit Secures Injunction Against Suspension Order

Hyundai Engineering & Construction (KRX:000720) unit Hyundai Engineering was granted a provisional injunction disallowing the suspension of its civil engineering and construction business operations.The company had applied for an injunction after receiving the order, according to a Wednesday Korea bourse filing.The suspension had come about due to the occurrence of a serious accident under the occupational safety and health act, according to a previous filing.

KRX:000720

Mining & Metals19d ago

Intermap Technologies Acquiring PCI Geomatics

Intermap Technologies (IMP.TO) is acquiring PCI Geomatics for $11 million cash, the company said Wednesday.PCI is a provider of commercial geospatial image processing technologies, with more than 750 proprietary algorithms supporting imagery from more than 500 satellites in-orbit, and embedded in thousands of workflows worldwide, a statement said.The arrangement is expected to increase Intermap's recurring commercial subscriptions and repeat contracted licenses.Intermap Technologies closed up C$0.05, to C$1.07 on Tuesday on the Toronto Stock Exchange.

$IMP.TO

Sectors19d ago

Sector Update: Energy

Energy stocks were higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 2.2%.The United States Oil Fund (USO) was up 6.4%, while the United States Natural Gas Fund (UNG) was 0.3% higher.Front-month US West Texas Intermediate crude oil was up 6.7% to $84.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 7.1% to $90.05 per barrel, and natural gas futures were 0.5% lower at $2.65 per 1 million British Thermal Units.Eni (E) stock was up more than 5% before market open after the company reported higher Q2 net profit and sales.

$E$UNG$USO$XLE

Asia19d ago

Starhill Global REIT's Full Fiscal Year Distributable Income Ticks Up

Starhill Global REIT (SGX:P40U) recorded distributable income to unitholders of SG$85.3 million for the full fiscal year, compared with SG$83.8 million a year ago.For the 12 months ended June, distribution per unit ticked up to SG$0.0368 from SG$0.0365, according to a Wednesday filing on the Singapore bourse.Gross revenue was SG$192.5 million, compared with SG$192.1 million in the previous year.

SGX:P40U

Sectors19d ago

Sector Update: Financial

Financial stocks were mostly lower pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) fell by 0.9%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% higher.UBS Group (UBS) shares traded up nearly 2% in early hours activity after the company reported higher Q2 earnings and revenue.

$FAS$FAZ$UBS$XLF

Sectors19d ago

Sector Update: Consumer

Consumer stocks were lower to flat premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) retreating 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was flat.Unilever (UL) shares were down more than 2% pre-bell following a roughly 9% rise at the previous close. Reuters reported that the company agreed to protect the employment terms and conditions of workers in its European and UK food business for two years after its planned 2027 merger with McCormick (MKC). McCormick stock was fractionally higher.

$MKC$UL$XLP$XLY

Sectors19d ago

Sector Update: Healthcare

Healthcare stocks were higher premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining by 0.3% and the iShares Biotechnology ETF (IBB) advancing 0.5%.Humana (HUM) stock was down nearly 1% premarket after the company cut its 2026 GAAP earnings guidance.

$HUM$IBB$XLV

Sectors19d ago

Sector Update: Tech

Technology stocks were lower pre-bell Wednesday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.7% lower.United Microelectronics (UMC) shares were down more than 1% in premarket activity after falling 9% at the prior close. The company reported higher Q2 earnings and operating revenue and announced a phased expansion plan to boost semiconductor manufacturing capacity in Singapore and Taiwan.

$UMC$XLK$XSD

Research19d ago

Oppenheimer Initiates Quince Therapeutics at Outperform With $82 Price Target

$QNCX

Asia Markets19d ago

Update: US Equity Futures Lower Pre-Bell as Middle East Hostilities Resume, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$CVX$KLAC$META$MSFT$PG$STX$TTE$V$XOM

Oil & Energy19d ago

Oil Producers Hoard Cash as $495 Billion Windfall Fails to Ignite Spending, Wood Mackenzie Says

The global oil and gas industry is on track to generate $495 billion in windfall cash flows this year, based on the assumption that Brent prices average $90 a barrel. Yet, their investment budgets remain flat, say analysts at Wood Mackenzie.The 49 international and national oil companies covered in the firm's analysis will earn a total of about $272 billion of the total windfall. That is in turn equal to about 70% of their combined annual investment budgets.Nonetheless, companies have largely kept their capital spending plans unchanged while allowing cash to accumulate on their balance sheets. Wood Mackenzie also expects share buybacks across the peer group to decline about 5% year-over-year based on announced plans ahead of second-quarter results.According to Tom Ellacott, Senior Vice President of Corporate Research at Wood Mackenzie, companies have largely adopted a "wait-and-see approach" amid continued geopolitical uncertainty, with capital discipline proving "more durable than either the bears or bulls expected."As a result, analysts have warned of significant long-term production challenges, noting that 155 upstream companies could face, on average, a 30% decline in production between 2030 and 2040, while more than 70 companies stand to see output dip by 50% over the same period.The report, however, noted resilience in M&A activities, with transactions reaching their highest levels in two years during the first-half of 2026.This included Shell's (SHEL) proposed $16 billion acquisition of ARC, Devon Energy's (DVN) $25 billion merger with Coterra (CTRA), and Mitsubishi's $7.5 billion purchase of Aethon.

$CTRA$DVN$SHEL

Mining & Metals19d ago

Amerigo Resources Reports Higher Q2 Net Income, Revenue

Amerigo Resources (ARG.TO) reported Q2 net income of $0.11 per share from $0.05 a year earlier.Revenue for the quarter ended June 30 was $77.4 million from $50.8 million a year ago. EBITDA surged to $38.4 million from $17.8 million last year.The copper producer declared a performance dividend of C$0.18 per share, the largest in the company's history, bringing its year-to-date performance dividends to C$0.34 per share.

$ARG.TO

Research19d ago

B. Riley Upgrades Ribbon Communications to Buy From Neutral, Lifts Price Target to $3.30 From $3

Ribbon Communications (RBBN) has an average rating of buy and mean price target of $3.56, 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)

$RBBN

Asia Markets19d ago

Saudi Equities Plunge on Wednesday as Middle Eastern Conflict Widens

Saudi Exchange-traded shares tumbled on Wednesday as the widening Middle Eastern conflict pushed the Tadawul All Share Index 1.25% in the red.The US and Saudi Arabia launched joint attacks on Iran-backed targets in Iraq, signaling the potential widening of the war. The strikes were made as retaliation for drone attacks on oil targets in the Saudi Arabian nation, media reports said."After a heavy sell-off in the oil market over the last three days, prices popped higher in early morning trading, with Brent up more than 4% at the time of writing. Renewed strength comes after the US said it intercepted a surprise attack on US troops. Saudi Arabia intercepted drones from Iranian-backed groups in Iraq, which were targeting Saudi energy infrastructure," ING said in a note. "These developments throw cold water on the idea of a swift de-escalation in the Persian Gulf."Further to this, Iran reportedly rejected Oman's proposal on the operations of the Strait of Hormuz, Reuters reported, citing an Iranian official. The source said that the proposal was "unreasonable" since it would not serve the Middle Eastern country's interests.Meanwhile, market watchers are also turning their attention to the US Federal Reserve's rate decision, which is just hours away. Policymakers are expected to hold.Back at home and on the corporate front, SAL Saudi Logistics Services (SASE:4263), First Milling Co. (SASE:2283), and Riyadh Cables Group (SASE:4142) posted their financial results for the first half of 2026. All three stocks reported higher revenue and attributable net profit for the six months ended June 30.SAL Saudi Logistics and First Milling rose 4.53% and 3.55%, respectively. Riyadh Cables, on the other hand, declined 0.87% at closing.

^TASISASE:2283SASE:4142SASE:4263

Equities19d ago

Goldman Sachs Adjusts Price Target on EQT to $62 From $60, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $67.96, 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

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Asia Markets19d ago

Update: US Equity Futures Lower Pre-Bell as Middle East Hostilities Resume, Oil Prices Rise

Dow JonesNasdaq CompositeS&P 500$CVX$KLAC$META$MSFT$PG$STX$TTE$V$XOM