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Lake Shore Bancorp Keeps Quarterly Dividend at $0.09 per Share, Payable Aug. 12 to Holders of Record Aug. 3

Jefferies Cuts Summit Therapeutics Price Target to $15 From $17, Hold Rating Kept

Summit Therapeutics (SMMT) has an average rating of overweight and mean price target of $28.51, 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: $13.62, Change: $-1.37, Percent Change: -9.11%

$SMMT

Oil & Energy23d ago

US DOE Grants Argent LNG Key Export Approval for Proposed Louisiana Terminal

The US Department of Energy said Thursday it approved Argent LNG's request to export liquefied natural gas to countries with Free Trade Agreements.The authorization allows Argent LNG to export up to 1.294 trillion cubic feet of natural gas, or about 25 million metric tons of LNG annually, from its proposed Port Fourchon, Louisiana, terminal over a 20-year term beginning with its first commercial export, DOE said.The Department said Argent's separate application to export LNG to countries without Free Trade Agreements remains under review and will be addressed in a separate order.Argent filed both export applications on March 10. The company requested authority to export LNG on its own behalf and as an agent for other cargo owners under multiple contracts, the order said.DOE said Argent must file long-term export and natural gas supply agreements within 30 days of execution and submit semiannual progress reports until the project enters service.The proposed facility will occupy about 900 acres at Port Fourchon and include 12 modular liquefaction units, two 220,000-cubic-meter LNG storage tanks, two marine loading berths and a 350-megawatt gas-fired power plant, according to the filing.Argent told the DOE it expects to begin construction in December 2027 and start commercial operations in the first quarter of 2030.The company said it has not signed long-term LNG supply contracts but has reached a non-binding agreement under which Bangladesh's state-owned Petrobangla could purchase up to 5 million tons of LNG annually.It also signed a strategic cooperation agreement with Turkish energy exchange Enerji Piyasalari Isletme, according to the filing.The approval covers exports to US Free Trade Agreement partners, including Australia, Bahrain, Canada, Chile, Colombia, the Dominican Republic, El Salvador, Guatemala, Honduras, Jordan, Mexico, Morocco, Nicaragua, Oman, Panama, Peru, South Korea and Singapore, along with future qualifying FTA countries, the order said.

Wire23d ago

Honeywell Sets Quarterly Dividend at $0.70 a Share, Payable Sept. 4 to Holders of Record Aug. 14

$HON

Wire23d ago

Update: Booz Allen Hamilton Shares Rise After Fiscal Q1 Results

(Updates with the latest stock movement in the first paragraph and headline.)Booz Allen Hamilton (BAH) shares were up about 12% in Friday afternoon trading following its fiscal Q1 results.Earlier, the company reported fiscal Q1 adjusted earnings of $1.81 per diluted share, up from $1.48 a year earlier.Analysts polled by FactSet expected $1.48.Revenue for the quarter ended June 30 was $2.80 billion, compared with $2.92 billion a year earlier.Analysts polled by FactSet expected $2.81 billion.For fiscal 2027, the company still expects adjusted EPS of $6.00 to $6.35 on revenue of $11.2 billion to $11.7 billion. Analysts expected $6.26 and $11.42 billion, respectively.The company kept its quarterly dividend at $0.59 per share, payable Aug. 28 to shareholders of record Aug. 14.Price: $73.76, Change: $+7.88, Percent Change: +11.97%

$BAH

Oil & Energy23d ago

US Oil Update: Futures Slide as Pakistan Reportedly Pushes for US-Iran Talks

Crude futures fell in midday trading on Friday as markets assessed reports that Pakistan is pushing to facilitate talks between the US and Iran, which eased concerns over a potential escalation that could threaten global crude supplies.Front-month West Texas Intermediate crude futures tumbled 3.4% to $89.02 per barrel, while Brent futures slipped by 4.2% to $96.42/bbl.Soojin Kim, research analyst at MUFG, said with both the Strait of Hormuz and the Red Sea now exposed to disruption, the market is increasingly pricing a broader logistics-driven supply shock.Pakistan is reportedly exploring a resumption of stalled US-Iran negotiations to end their nearly five-month-old conflict, following a diplomatic push by China, Tehran's largest trading partner.Though Iranian officials have maintained public defiance, Iran's Interior Minister Eskandar Momeni traveled to Islamabad this week for exploratory talks, marking his second visit in ten days.Momeni, reportedly considered an ally of the Islamic Revolutionary Guard Corps, met with Pakistani leaders and defense chief Asim Munir during the trip.President Trump said he will soon make a decision on whether to launch a "massive attack" on Iran as the Middle East conflict has widened a new battleground in the Red Sea.The Red Sea has become a crucial alternative export route for Saudi Arabia, allowing the Gulf state to bypass the Strait of Hormuz and continue shipping barrels a day to global customers.The US Central Command said it had completed a thirteenth consecutive night of attacks on Iran, targeting Iranian military command centers, drone storage facilities, communication networks, and coastal surveillance sites to further diminish the threat Tehran poses to vessels transiting the Hormuz.Centcom said that over 50,000 US service members are operating across the Middle East.Iran, in response, said it attacked US military equipment depots at Al-Adiri, known as Camp Buehring, in northern Kuwait, and the positions of US troops at Camp Arifjan and at Camp Doha, near Kuwait City.Tehran also said they had significantly damaged a surveillance tower used by the US Fifth Fleet in Bahrain. On Friday, the IRGC warned the populations of Gulf countries of potential strikes against US military personnel who may be using "buildings in cities as locations to direct their crimes."Kim said Trump warned of a potentially larger US military response against Iran, while Iran threatened retaliation against regional energy infrastructure if attacks escalate further.On the supply front, the security situation in Hormuz has deteriorated over the past weeks, with MarineTraffic's shipping data showing only six confirmed crossings on July 23, down 60% from the day before.MarineTraffic said that five of the six vessels followed the Iranian Unilateral Scheme, highlighting the continued concentration of traffic along that route.

Wire23d ago

Noodles Shares Rise After Q2 Swings to Profit, Revenue Rises; Lifts Full-Year Revenue Guidance

Noodles (NDLS) shares rose about 28% in Friday afternoon trading after the company swung to a Q2 profit and raised its full-year 2026 revenue guidance.The company reported Q2 adjusted earnings Friday of $0.18 per diluted share, swinging from a loss of $0.94 a year earlier.A single analyst surveyed by FactSet expected a loss of $0.05.Revenue for the quarter ended June 30 was $127.0 million, up from $126.4 million a year earlier.One analyst expected $119.4 million.For the full-year 2026, the company now expects revenue of $485 million to $500 million, up from the prior guidance of $483 million to $498 million. One analyst expects $483.3 million.Price: $15.76, Change: $+3.41, Percent Change: +27.61%

$NDLS

International23d ago

Daily Roundup of Key US Economic Data for July 24

The flash manufacturing reading from S&P Global fell slightly to 53.8 in July from 53.9 in June after regional data from the New York and Philadelphia Federal Reserve banks improved.Released at the same time, the flash services reading from S&P Global rose to an eight-month high of 53.6 in July from 51.2 in June.New-home sales accelerated to a 628,000 annual rate in June from a 618,000 rate in May but was down 5.6% from the 665,000 rate in June 2025.The Kansas City Fed's services index rose to 14 in July from 5 in June. Other regional services data already released have also indicated a faster pace of growth for the sector.

Sectors23d ago

September WTI Crude Oil Contract Closes Down $2.88, or 3.1%; Settles at $89.31 per Barrel

$CLU6$LCOU6$USO

Wire23d ago

Update: Gentex Shares Fall After Surprise Q2 Revenue Drop

(Updates with the latest stock price movement in the headline and first paragraph.)Gentex (GNTX) shares fell 5.3% in Friday trading after Q2 revenue declined unexpectedly.In the three months ended June 30, revenue dropped to $651.3 million from $657.9 million a year earlier, the company said Friday.Analysts polled by FactSet expected $669.7 million.Q2 adjusted earnings rose to $0.58 per diluted share from $0.50.Analysts expected $0.50.The company maintained its 2026 consolidated revenue guidance range of $2.65 billion to $2.75 billion. Analysts expect $2.69 billion.The company continues to project 2027 revenue of $2.8 billion to $2.9 billion. Analysts expect $2.83 billion.Price: $22.54, Change: $-1.27, Percent Change: -5.32%

$GNTX

Wire23d ago

Top Midday Decliners

Robin Energy (RBNE) said Friday it has priced an underwritten public offering of 750,000 shares at $4 per share. The stock closed at $5.68 in the previous day.Shares slumped 41% as intraday trading volume jumped to over 683,000 from a daily average of about 90,000.C.H. Robinson Worldwide (CHRW) said a jury in Dallas County, Texas, issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier.The advisory verdict remains subject to post-trial proceedings before the court enters a final verdict, it said.Shares dropped 8.2% as intraday trading volume grew to over 2.2 million from a daily average of about 1.7 million.Price: $3.27, Change: $-2.41, Percent Change: -42.43%

$CHRW$RBNE

Oil & Energy23d ago

Houthi Official Says Bab el-Mandeb Remains Open, Limits Naval Blockade to Saudi Arabia

Houthi spokesperson Mohammed Abdul Salam denied reports that the group had closed the Bab al-Mandab Strait, saying its naval blockade targets only Saudi Arabia, according to a statement on X on Friday.Abdul Salam said the Yemeni Armed Forces had announced a maritime blockade aimed solely at the "Saudi side" rather than the strategic waterway. He dismissed claims that shipping through the Bab al-Mandab Strait had stopped.He said the blockade responds to what the Houthis describe as Saudi Arabia's continued siege of Yemen and its rejection of a settlement that guarantees Yemen's security, sovereignty and independence.The Bab el-Mandeb Strait connects the Red Sea and the Gulf of Aden and serves as a key route for global energy and commercial shipping. Reports of any disruption typically draw close attention from energy and financial markets.The statement came a day after Yemeni forces said they had targeted two Saudi oil tankers for violating the naval blockade imposed in the Red Sea, according to a statement on X by military spokesperson Yahya Saree on Thursday.Saree said the operation used ballistic missiles, cruise missiles and drones, triggering a large fire aboard both vessels. He added that the strikes forced about 10 ships to retreat.Saree said the armed forces will continue naval operations against what he described as the Saudi enemy and keep enforcing the "siege for a siege" policy. He warned that any escalation would draw a broader military response.

Wire23d ago

Update: World Acceptance Shares Rise After Fiscal Q1 Earnings, Revenue Increase

(Updates with the latest stock price movement in the headline and first paragraph.)World Acceptance (WRLD) shares rose 11% in Friday trading after the company reported fiscal Q1 results.The company reported fiscal Q1 net income Friday of $1.33 per diluted share, up from $0.30 a year earlier.Revenue for the quarter ended June 30 was $139.2 million, compared with $132.8 million a year earlier.A single analyst polled by FactSet expected $143.9 million.Price: $201.72, Change: $+20.64, Percent Change: +11.40%

$WRLD

International23d ago

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending Aug. 8

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending Aug. 8, according to data from ship-tracking system Port Optimizer.A total of 125,142 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 6.2% increase from the previous week and a 10% rise from a year earlier.Twenty-four freight vessels are scheduled to arrive at the port in the week ending Aug. 8, the data showed. That compares with 21 vessels scheduled this week and 23 in the week ending Aug. 1.US President Donald Trump on Monday signed proclamations imposing 50% tariffs on certain Canadian imports, including products tied to the motor vehicle, alcohol and dairy sectors.The Office of the US Trade Representative said Thursday that it is imposing new tariffs on 60 countries over their alleged "failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor." The new duties took effect Friday, replacing a 10% global tariff implemented by Trump that expired the same day, according to media reports.

US Markets23d ago

Update: Equity Markets Mostly Rise Intraday; Oil Retreats

(Updates with latest market prices and developments.)US benchmark equity indexes were mostly higher intraday as oil prices pulled back, with traders apparently shaking off worries over heightened tensions in the Middle East and President Donald Trump's new phase of global tariffs.The Dow Jones Industrial Average was up 0.5% at 51,989 after midday Friday, while the S&P 500 rose 0.4% to 7,437.9. The Nasdaq Composite edged down 0.1% to 25,109.9. Barring technology, all sectors were in the green, led by real estate.West Texas Intermediate crude was down 4% at $88.51 a barrel, while Brent fell 4.7% to $96. Both benchmarks advanced earlier in the day and were still on track for sharp gains for the week.Pakistan has held exploratory discussions with Iran's Interior Minister Eskandar Momeni as it seeks a path towards a resumption of stalled talks between Washington and Tehran, Reuters reported, citing Pakistani sources. Islamabad recently also discussed the Middle East situation with China, according to the report.Bahrain, Jordan and Kuwait were fending off Iranian attacks again Friday, while Iran's military claimed it launched attack drones targeting US assets in Bahrain's Sheikh Isa Air Base and Jordan's Al-Azraq Air Base, CNN reported, citing local press.US Treasury yields were lower intraday, with the two-year rate down 3.4 basis points at 4.33% and the 10-year rate falling 2.8 basis points to 4.68%.In a fact sheet published Thursday, the Office of the US Trade Representative announced new tariffs of 10% or 12.5% on 60 economies that it said have failed to prohibit or effectively enforce bans on imports made with forced labor, including China, India, the UK and the European Union.The duties took effect at 12:01 am ET Friday, replacing Trump's temporary 10% global tariffs, which expired at the same time, CNBC reported.Earlier this week, Trump signed three proclamations to impose 50% tariffs on the imports of motor vehicles, alcohol and dairy products from Canada."The snap-back in oil prices, as well as another turn of the screw in tariffs, complicates the job of central bankers everywhere, and lands with a thud ahead of the (Federal Open Market Committee) meeting," BMO said in a report Friday.The probability that the US Federal Reserve will leave its benchmark lending rate unchanged next week stood at 64% Friday, down from 87% a week ago, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase moved up to 36% from 13%.In economic news, US private-sector output growth reached an eight-month high in July amid services boost, though price pressures intensified due to disruptions caused by the Middle East conflict, S&P Global's (SPGI) flash purchasing managers' index showed Friday.New-home sales in the US increased last month for the first time since March as house prices continued to fall, though inventory remained elevated at more than a nine-month supply, official data showed.In corporate news, Verizon Communications (VZ) raised its full-year earnings outlook amid phone subscriber gains in the second quarter. The company's shares were up 4.1% intraday Friday.American Express (AXP) was the worst performer on the Dow, down 5.1%. The payments company's second-quarter earnings topped Wall Street's estimates, but revenue missed expectations.Gold was up 0.7% at $4,068.20 per troy ounce, while silver gained 1.3% to $58.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$AXP$SPGI$VZ

Commodities23d ago

US Natural Gas Update: Futures Slip on Ample Supply, Mild Weather

US natural gas futures edged lower in midday trade on Friday as comfortable storage levels, strong production and limited changes to weather expectations kept pressure on prices despite steady demand from the power sector and improving LNG export demand.The front-month Henry Hub contract fell 0.93% to trade at $2.880 per million British thermal units, while the continuous contract declined 0.27% to $2.909/MMBtu.The US Energy Information Administration reported a 32 billion cubic feet increase in natural gas inventories for the latest reporting week, a result that was largely in line with market expectations.The build was slightly below the analyst forecasts of around a 34 Bcf increase, providing little new direction for traders.Weather outlook revisions were also limited, with forecasts for the lower 48 states warming by only about 1 degree Fahrenheit over the outlook period.Warmer conditions across the Rockies were mostly offset by cooler revisions in the eastern regions, leaving the overall demand outlook largely unchanged, Aegis Hedging said.Natural gas demand from the power sector declined by 1.2 Bcf per day from the previous day to 45.5 Bcf/d, but consumption remained above year-ago levels. Power burn is expected to recover into the low-to-mid 50 Bcf/d range as hotter weather develops in early August, NRG Energy said.LNG feedgas demand strengthened slightly on Friday morning, nearing 18 Bcf/d, supported by higher nominations at Freeport LNG, which increased to 1.08 Bcf/d.Forward demand expectations have improved to around 18.7 Bcf/d for the coming week, with additional upside expected from commissioning progress at Golden Pass LNG and Corpus Christi Stage 3.Those gains, however, are being partially offset by ongoing maintenance activity at Freeport LNG, Aegis Hedging noted.On the supply side, production remained strong. Trading Economics said output from the Lower 48 states averaged 110.4 Bcf/d so far in July, up from 110 Bcf/d in June.

Wire23d ago

Packaging Corp. of America Faces Higher Costs After Strong Q2 Results, UBS Says

Packaging Corp. of America (PKG) posted upbeat Q2 earnings, though cost pressures remain elevated, driven by higher energy and freight expenses linked to Middle East disruptions, UBS Securities said Thursday in a report.UBS said PKG is realizing containerboard price boosts more quickly than peers and expects the company to fully capture the two $50-per-ton increases by the end of 2026.The containerboard operations acquired from Greif (GEF) last year outperformed management's expectations in Q2 for the first time since the deal, and their contribution is expected to ease in Q3 due to a planned maintenance outage at a Virginia mill, the report said.UBS cut its Q3 EPS estimate to $2.92 from $3.01. It lowered its price target on PKG stock to $271 from $272 and maintained its buy rating.Price: $249.60, Change: $+15.70, Percent Change: +6.71%

$PKG

Wire23d ago

Rollins' Organic Growth Cadence May Take Time to Rebuild, UBS Says

Rollins' (ROL) organic growth cadence may take time to fully rebuild after the Q2 shortfall affected the recurring and one-time businesses, UBS said in a note Thursday.The brokerage said search, digital and inbound traffic slowed in May and early June, negatively affecting both the businesses.UBS said several items are encouraging, including that it does not think the business is broken, the 2026 guidance overhang was removed and valuation in the 20x earnings before interest, taxes, depreciation and amortization range could provide some support.UBS maintained the company's neutral rating and lowered the price target to $43 from $50.Price: $38.67, Change: $-0.77, Percent Change: -1.97%

$ROL

Oil & Energy23d ago

US Treasury Targets Companies Linked to Iranian Financier Zanjani's Network

The US sanctioned four individuals and nine entities tied to Iranian financier Babak Morteza Zanjani, expanding efforts to disrupt networks that help Tehran evade sanctions, including those used to move oil revenues, the Treasury Department's Office of Foreign Assets Control said Friday.The measures target Zanjani's Iran-based Dot One conglomerate and companies supporting his digital asset exchanges, Zedcex and Zedxion. Zanjani used businesses spanning logistics, transportation, aviation, finance and digital assets to conceal ownership and move funds.Treasury also sanctioned Dot One Value Creation Group, DotOne Gold Company, DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company and DotOne Trip.Treasury said Zanjani first rose to prominence by helping Iran sell crude and repatriate oil revenues during earlier rounds of international sanctions. It said he regained prominence after backing regime-linked projects, including an $800 million rail contract in April 2025.Treasury said he was convicted in Iran over funds owed to the National Iranian Oil Company before rebuilding a business network that now supports sanctions evasion.In a January 2026 designation, OFAC had described Zanjani as a "... a criminal Iranian investor who previously embezzled billions of dollars in Iranian oil revenue that rightfully belonged to the Iranian people and was never fully recovered."Friday's action also covers Turkey-based Zedpay Finansal Sistem Ve Hizmetleri and Dubai-based Zedx DMCC and BZ Diamond FZCO, along with four executives. Treasury said the firms supported Zedcex and Zedxion, which processed transactions linked to the Islamic Revolutionary Guard Corps.Treasury said Iran sentenced Zanjani to death in 2016 for embezzling funds from the National Iranian Oil Company before commuting his sentence in 2024. It said he later rebuilt a network that supported sanctions evasion and money laundering.The sanctions block US-based property and interests of the designated parties and bar US persons from transacting with them unless authorized. Treasury warned foreign firms also risk penalties for helping them evade US sanctions.

Wire23d ago

Tenet Healthcare Q2 Beats Expectations as Hospital, ASC Segments Outperform, UBS Says

Tenet Healthcare's (THC) Q2 results topped expectations, with both its hospital and ambulatory surgery center segments outperforming as lower-than-expected labor and operating costs drove an adjusted EBITDA beat, UBS Securities said.Results included an incremental benefit from supplemental payments, though the company did not specify how much of the $140 million increase in 2026 supplemental payment guidance was reflected in Q2 results versus the rest of the year, according to the note Thursday.The company raised its 2026 adjusted EBITDA guidance by $295 million at the midpoint, with $285 million of the raise in the hospital segment and a $10 million increase at its subsidiary, United Surgical Partners International. The guidance raise also included $140 million in incremental Medicaid supplemental payments, the note added.Tenet Healthcare is not seeing an increase in uninsured patients beyond what it expected from the exchanges, nor does it see any negative demand trends for surgical procedures, the brokerage said.UBS has a buy rating on Tenet with a price target of $288.Shares of Tenet Healthcare were up more than 16% in Friday trading.Price: $231.48, Change: $+32.46, Percent Change: +16.31%

$THC

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US Markets23d ago

Update: Equity Markets Mostly Rise Intraday; Oil Retreats

Dow JonesNasdaq CompositeS&P 500$AXP$SPGI$VZ