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Market Chatter: Asian Spot LNG Prices Surge to Four-Month High Amid Houthi Concerns

Spot liquefied natural gas prices in Asia hit a four-month high, weighed down by concerns of wider shipping disruptions after the Houthi attacks on Saudi vessels dragged another major energy chokepoint into the Middle East conflict, Reuters reported Friday.This was the fifth straight weekly rise for Asian spot LNG prices.The average September delivery price for northeast Asia was expected to be around $22 per million British thermal units this week, up from $20.10/mmBtu last week, the report said, citing industry sources.Iran has sharply restricted shipments and traffic through the Hormuz Strait, which accounts for almost one-fifth of global LNG flows. The Houthi attacks near the Bab el-Mandeb Strait have extended security risks to the Red Sea, where Saudi Arabia had redirected some of its oil shipments, the report added.(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.)

Commodities23d ago

EU Measures Could Cut Household Electricity Prices 20% by 2030, IEA Says

A combination of faster renewable energy deployment, stronger electricity grids, nuclear plant lifetime extensions and lower energy taxes could reduce average household electricity prices across the European Union by about 20% by 2030, the International Energy Agency said in a note on Thursday.Its analyses show lower electricity prices are essential to boost adoption of technologies such as heat pumps and electric vehicles, which remain uncompetitive in many parts of the bloc at current power prices. The measures are intended to support the EU's goal of increasing electricity's share of final energy consumption to 32% by 2030.Without the proposed reforms, average electricity prices for all consumers would be more than 40% higher than current levels, the report said. Slower renewable deployment, permanent nuclear plant closures and increased grid congestion would force greater reliance on gas-fired generation, raising wholesale power prices and consumer bills.The analysis found that expanding wind and solar generation, reinforcing electricity grids, increasing storage capacity and extending the operating lives of existing nuclear reactors would lower system costs while improving energy security. Tax reforms, including reducing value-added and excise taxes on electricity to minimum legal levels, could further cut household electricity prices by nearly 15% by 2030 compared with a higher-cost scenario.Natural gas prices will remain an important factor because gas-fired plants continue to set electricity prices during many hours of the year. While expanding global liquefied natural gas supplies could ease gas prices by 2030, the analysis said structural reforms to electricity supply and taxation remain critical to accelerating electrification and reducing consumer costs.

Wire23d ago

BNP Paribas Adjusts Rollins Price Target to $44 From $63, Maintains Neutral Rating

Rollins (ROL) has an average rating of overweight and mean price target of $46.75, according to analysts polled by FactSet.Price: $38.63, Change: $-0.81, Percent Change: -2.07%

$ROL

Wire23d ago

Citigroup Adjusts Price Target on Teledyne Technologies to $685 From $680, Maintains Neutral Rating

Teledyne Technologies (TDY) has an average rating of overweight and mean price target of $748.58, 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: $652.65, Change: $+1.42, Percent Change: +0.22%

$TDY

Wire23d ago

Citigroup Adjusts Price Target on Northrop Grumman to $617 From $587, Maintains Buy Rating

Northrop Grumman (NOC) has an average rating of overweight and mean price target of $647.05, 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: $543.25, Change: $+9.77, Percent Change: +1.83%

$NOC

Wire23d ago

Citigroup Adjusts Price Target on Lockheed Martin to $641 From $582, Maintains Buy Rating

Lockheed Martin (LMT) has an average rating of overweight and mean price target of $621.42, 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: $586.00, Change: $+17.41, Percent Change: +3.06%

$LMT

Wire23d ago

Citigroup Adjusts Price Target on RTX to $240 From $226, Maintains Buy Rating

RTX (RTX) has an average rating of overweight and mean price target of $229.90, 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: $214.00, Change: $+4.84, Percent Change: +2.31%

$RTX

Commodities23d ago

NextEra Energy Posts Higher Segment Revenues in Q2

Electric power and energy infrastructure company NextEra Energy (NEE) on Friday reported an increase in Q2 revenue across all segments, mainly the energy resources unit and Florida Power & Light.The energy resources segment generated $2.53 billion in revenue during the quarter, up from $1.91 billion a year earlier.Its backlog expanded to 35.1 gigawatts after adding 3.6 GW of renewables and storage projects during the quarter, according to the report.New battery projects account for about 2 GW, while solar projects account for 900 megawatts, and wind projects 700 megawatts.Meanwhile, FPL generated $4.90 billion in revenue, an increase from $4.71 billion in the year-ago period, results showed.The utility unit added over 90,000 customers over the year, the company said. Its large load interests expanded to 21 GW, driven by strong demand from hyper-scalers and other large customers.Of the total volume, 12 GW is already in advanced discussions, the company said, with potential delivery as early as 2028.NextEra Energy said it has advanced the proposed merger with Dominion Energy (D) and is now awaiting regulatory approvals. The transaction is expected to close in H2 of 2027.Price: $88.94, Change: $-0.85, Percent Change: -0.95%

$D$NEE

Wire23d ago

Boston Beer Portfolio Underperforms Weak Alcohol Industry, Morgan Stanley Says

Boston Beer's (SAM) portfolio continues to underperform the weak beverage alcohol industry with persistent declines for Twisted Tea and Truly Hard Seltzer offsetting growth for Sun Cruiser vodka tea, Morgan Stanley said in a Friday research note.While Sun Cruiser continues to grow close to triple digits recently, comparisons will get more challenging for the balance of the year as it cycles last year's national rollout, with growth slated to moderate further in 2027, according to the note.Additionally, Morgan Stanley said that the company's efforts to improve Twisted Tea's performance through innovation, marketing, pricing and pack architecture have yet to turn the brand amid growth in spirits-based ready-to-drinks' share of display and consumption.Morgan Stanley said it is lowering its fiscal 2026 and 2027 earnings per share estimates by 4% and 6.5% to reflect softer volumes only partially offset by lower advertising and promotional spending.Morgan Stanley lowered its price target on the company's stock to $190 from $220 and maintained its equal-weight rating.Price: $173.53, Change: $-0.97, Percent Change: -0.56%

$SAM

Wire23d ago

Buyout Offer for Penske Automotive Testament to Quality of Business, Morgan Stanley Says

The buyout bid for Penske Automotive (PAG) is a testament to the quality of the company's business, Morgan Stanley said in a note Friday.Penske Automotive said late Wednesday it has received a non-binding offer from Penske Corp. and Mitsui & Co. to buy the remaining shares they do not already own for $210 a share in cash. Penske Corp., Mitsui, and their affiliates together beneficially own 72.6% of Penske Automotive's outstanding common stock, it said.Morgan Stanley said that Penske Automotive's shares are trading above the bid, at around $215, which may mean the market is "embedding a non-zero probability of a higher bid."The investment firm noted that Penske Automotive is a "high quality family owned asset" and a "well managed organization with a diversified portfolio and prudent capital allocation."The company's drivers of value include its stable core franchise dealer business and a "quality brand portfolio with a >70% luxury skew," the note said.Morgan Stanley said it moved Penske Automotive's price target to the bid price, which is $210 per share. The firm lowered the company's rating to equalweight from overweight, saying the shares will likely trade in line with the offer price for the "foreseeable future."Price: $215.90, Change: $+0.36, Percent Change: +0.17%

$PAG

Commodities23d ago

US Natural Gas Update: Futures Edge Lower Amid Bearish Storage Build, Despite Bullish Weather Forecasts

US natural gas futures edged lower on Friday, despite the higher-than-expected storage build, as weather forecasts remained bullish for the near-term.The front-month Henry Hub contract and the continuous contract were both down 0.03% at $2.916 per million British thermal units. The front-month contract was set to end the week down by 0.64%.The US Energy Information Administration released its Weekly Natural Gas Storage Supplement on Thursday, reporting a net injection of 32 billion cubic feet of working gas into storage, compared to forecasts of 29 Bcf, for the week ended July 17.Storage figures witnessed a sharp decline from the prior week's 41 Bcf in net injection, but were above last year's 27 Bcf and the five-year average for this period at 30 Bcf, according to the data compiled by Investing.com.This brought total US working gas inventories to 3,056 Bcf, which was 16 Bcf, or 1%, below the year-ago figure but 183 Bcf, or 6%, above the five-year average for this period, according to the EIA.According to Pinebrook Energy Advisors, this week's figures imply "that market fundamentals tightened by nearly 1.5 Bcf per day from the previous week," which it said was largely the outcome of warmer temperatures and weaker wind power generation during the reporting period.Weather forecasts expect above-normal temperatures to persist in the near-term, according to the National Weather Service, from July 31 through August 06, keeping space cooling demand elevated throughout this period.Meanwhile, estimates for LNG export feedgas flows rose on Friday to 18.15 Bcf, up from earlier this week but still below the 30-day moving average of 18.33 Bcf, according to the Bloomberg LNG Feedgas Model.

Wire23d ago

BofA Securities Adjusts Price Target on Advanced Micro Devices to $620 From $560, Maintains Buy Rating

Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $571.18, 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: $524.18, Change: $-15.51, Percent Change: -2.87%

$AMD

Treasury23d ago

Market Chatter: BlackRock Starts $12.3 Billion Bond Sale for Meta Platforms Data Center

BlackRock (BLK) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg News reported Friday, citing a person familiar with the matter.A holding company linked to the asset manager is offering a single tranche of notes maturing in 2048 at a premium of roughly 2.875 percentage points above Treasuries, the news outlet quoted the person as saying.The sale proceeds will support a Texas facility expected to deliver up to 1 gigawatt of computing power, with BlackRock units holding 80% stake and Meta owning the rest, according to the report.BlackRock and Meta Platforms 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.)Price: $1040.77, Change: $+3.61, Percent Change: +0.35%

$BLK$META

US Markets23d ago

American Express Posts Mixed Second-Quarter Results, Sees Revenue Growth at High End of Guidance Range

American Express (AXP) second-quarter earnings topped Wall Street's estimates, but revenue missed expectations, while the payments company now expects full-year revenue to grow at the high end of its previous guidance range.The firm posted net income of $4.53 per share for the June quarter, up from $4.08 the year before, ahead of the FactSet-polled consensus of $4.40. Revenue, net of interest expense, advanced 10% to $19.64 billion, but trailed the Street's view for $19.7 billion.The stock fell 6% in Friday trading.Card member spending gains of 9%, increased net interest income and card fee growth boosted the top line in the second quarter, according to the company.For 2026, American Express now anticipates revenue to increase by 10%, the high end of its prior growth forecast. The Street is looking for $79.57 billion in sales for the year.Last week, RBC Capital Markets said it expects American Express' core credit performance to remain resilient, with lower net charge-off and delinquency rates than peers. The brokerage said at the time that the company's growth outlook continues to benefit from consistent activity among its premium customer base."Based on our better-than-expected performance in the first half of the year, we are raising our full-year revenue growth guidance," Chief Executive Stephen Squeri said Friday. The firm plans to invest in growth initiatives as it sees "significant" opportunities ahead, Squeri added.American Express continues to project EPS to come in between $17.30 and $17.90 for 2026. The current average analyst estimate on FactSet is for $17.64.Revenue in the US consumer services segment climbed 11% to $9.52 billion, while international card services inclined 12% to $3.62 billion. Commercial services rose 7% to $4.5 billion, while global merchant and network services moved 8% higher to $2.1 billion.Provisions for credit losses totaled $1.08 billion in the quarter, down from $1.41 billion in the 2025 quarter, reflecting a reserve release versus a reserve build last year, partially offset by higher net write-offs, the company said.Price: $321.64, Change: $-19.21, Percent Change: -5.63%

$AXP

Wire23d ago

Progressive's Premium Growth Outpacing Market, Morgan Stanley Says; Rating, Price Target Raised

Progressive's (PGR) rating and price target have been raised by Morgan Stanley analysts, who said in a note to clients Friday that the insurance major's recent share price decline "represents a reset on valuation and thesis."Although the insurance industry is experiencing challenging growth, with some firms seeing auto premiums decline, Progressive has premium growth that, while slowing, is "notably better" than the rest of the sector, the analysts said.Progressive's growth is likely to remain structurally better than rivals given its flexibility between bundled and mono-line auto businesses, the analysts said, noting that some carriers have over-emphasized the home and auto bundling, which can restrict growth.Morgan Stanley raised its rating on Progressive to equal-weight from underweight, and boosted its price target on the stock to $210 per share from $190.Price: $211.26, Change: $+4.19, Percent Change: +2.02%

$PGR

International23d ago

US New-Home Sales Rise in June, Down Year-Over-Year

US new-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with a 607,000-rate expected in a survey compiled by Bloomberg as of 7:50 am ET.Home sales were still down 5.6% from June 2025.The supply of homes available for sale fell by 0.2% to 485,000, down 3.2% from a year ago.The median sales price decreased to $398,300 from $412,000 in June, below the $409,200 level a year ago.The monthly new-home sales report from the US Commerce Department measures sales of new single-family homes at the time of the contract signing.The report includes the number of new homes available for sale and the median sales price. A strong reading is a positive sign for mortgage lenders, home builders and related consumer product companies.

Mining & Metals23d ago

MAX Power Mining Adds Aurora Project Permits Next to Lawson Project in Saskatchewan

MAX Power Mining (MAXX.CN) on Friday said it acquired key permits covering 155,125 acres contiguous to the 1,224 square kilometres Lawson project striking southeast toward the City of Moose Jaw, in south-central Saskatchewan.The company said this new permitted land package next to Lawson called the Aurora Project is "favorably" situated along a major highway and rail transportation corridor adjacent to heavy industry and emerging AI infrastructure.It also added two new permitted projects within the 475-km Genesis Trend.Shares of the company were last seen down 1% at C$1.9 on the Canadian Securities Exchange.Price: $1.90, Change: $-0.02, Percent Change: -1.04%

$MAXX.CN

Wire23d ago

Raymond James Adjusts Targa Resources Price Target to $330 From $294, Maintains Strong Buy Rating

Targa Resources (TRGP) has an average rating of buy and mean price target of $294.90, according to analysts polled by FactSet.Price: $289.44, Change: $+3.86, Percent Change: +1.35%

$TRGP

Wire23d ago

Barrington Research Adjusts IMAX Price Target to $50 From $46, Maintains Outperform Rating

IMAX (IMAX) has an average rating of buy and mean price target of $49.83, according to analysts polled by FactSet.Price: $44.63, Change: $+0.66, Percent Change: +1.51%

$IMAX

Wire23d ago

Raymond James Adjusts Price Target on Williams to $85 From $80, Maintains Outperform Rating

Williams (WMB) has an average rating of overweight and mean price target of $84.38, 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: $75.99, Change: $+0.73, Percent Change: +0.98%

$WMB

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US Markets23d ago

American Express Posts Mixed Second-Quarter Results, Sees Revenue Growth at High End of Guidance Range

$AXP