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Raymond James Adjusts Price Target on ONEOK to $95 From $92, Maintains Outperform Rating

ONEOK (OKE) has an average rating of overweight and mean price target of $96.15, 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: $94.79, Change: $+1.56, Percent Change: +1.67%

$OKE

Oil & Energy23d ago

US Oil Update: Oil Futures Snap Five-Day Rally Amid Profit-Taking

Global crude benchmarks fell on Friday as profit-taking kicked in, snapping a five-day rally supported by escalation in the US-Iran conflict which has sparked renewed supply concerns.Front-month West Texas Intermediate crude futures dipped 1.9% to $90.43 per barrel, while Brent futures dropped by 2.9% to $97.81/bbl. Both contracts were headed for their third straight week of gains of nearly 10% each."The decline in oil prices comes despite the ongoing escalation in the Middle East, with no prospects for reaching a broader understanding to halt the escalation and end the war," said Samer Hasn, Senior Market Analyst at XS.com.However, Murban futures hit an all-time of $114.92 per barrel while Brent futures hit their highest since May 22, on Thursday.Brent's recent rebound of about $20 per barrel from early July lows should keep crude prices supported over the next few weeks as Gulf supply declines, Vikas Dwivedi, Global Energy Strategist at Macquarie, said.Saxo Bank analysts said, "The bid reflects Houthi attacks on Red Sea tankers, President Trump's threat of a "massive attack" on Iran, and strikes on the Caspian Pipeline Consortium terminal that handles most Kazakh crude."Oil flows through the Strait of Hormuz have effectively halted amid ongoing US-Iran military exchanges, while commercial tanker threats have expanded to Saudi export lanes following Houthi attacks near the Bab al-Mandab Strait, analysts noted.Meanwhile, the EU's Oil Coordination Group reported no immediate supply issues and said commercial stocks can cover demand despite the Strait of Hormuz blockade, the European Commission stated on Friday.

Mining & Metals23d ago

Spirit Blockchain Capital Appoints Suha Askary as CEO

Spirit Blockchain Capital (SPIR.CN) has appointed Suha Askary as chief executive officer, with immediate effect, the company said Friday.Raymond O'Neill, who was interim chief executive officer, will continue to serve as board chair and interim chief financial officer, a statement said.

$SPIR.CN

International23d ago

June US New-Home Sales 628K Vs. 607K Estimate; 618K Prior Revised

Oil & Energy23d ago

EMEA Natural Gas Update: Futures Soar After Iran Rejects US Ceasefire Proposal, EU Storage Worsens

European natural gas futures edged higher on Friday as the military conflict between the US and Iran intensified after Tehran rejected another ceasefire proposal.The front-month Dutch TTF gas contract rose 3.20% to 63.880 euros ($72.62) per megawatt-hour, while the front-month UK NBP contract was up 3.61% to trade at 154.850 British pence ($2.06) per therm.Dutch TTF and UK Gas were set to end the week up by 11.10% and 11.42%, respectively, according to Trading Economics.On Friday, in a post on X, the US Central Command said that it had completed another round of strikes against Iran, for the 13th consecutive day, targeting the country's military installations to diminish Tehran's ability to target commercial vessels along the Strait of Hormuz.This followed Iran's rejection of the latest US-backed ceasefire proposal, the terms of which remain unclear. Tehran cited uncertainty over its control of the strait, according to the New York Times, citing Iranian and Iraqi officials.Meanwhile, traffic along the strait, which accounted for one-fifth of global LNG flows, stood at 12 on Thursday, according to data from ShipFinder.Daniel Hynes, a senior commodity strategist at ANZ, noted that while supply constraints had led to the surge in gas prices, they were now in "overbought territory" based on technical indicators, hinting at a potential pullback.European gas inventories were filled to 54.61% of capacity, compared to 65.65% during the corresponding period a year ago, according to data from Gas Infrastructure Europe.Inventories were also far below the five-year average for this period, at 70.3%, according to data from the Swiss Federal Office of Energy.All of this comes amid a record-shattering heatwave across Europe's Iberian Peninsula, particularly targeting Spain, where temperatures are expected to exceed 42 degrees Celsius, due to "superheated air drawing directly from the Sahara Desert," according to a report by Severe-Weather EU.As a result, analysts at Wood Mackenzie have warned that Europe could be entering winter with a gas crunch, as the resilience of LNG supplies will be tested to its limits over the next six to twelve months.

Mining & Metals23d ago

WSP Global Improves Takeover Bid for Arcadis

WSP Global (WSP.TO) has improved its offer to acquire fellow engineering firm Arcadis for 51.50 euros per share after its previous bid of 48.50 euros was rejected.WSP said Friday that it continues to engage with Arcadis to negotiate a friendly transaction, noting that Arcadis has not accepted WSP's multiple invitations to discuss the proposals.Price: $164.17, Change: $+3.57, Percent Change: +2.22%

$WSP.TO

Wire23d ago

Lufax Holding CFO, Three Other Board Members Resign

Lufax Holding (LU) said Friday that four board members, including Chief Financial Officer Tongzhuan Xi, will step down from their respective posts effective Saturday, July 25, due to personal work commitments.Each of the four directors said they had no disagreement with the board and that there was no matter related to their departures that needed to be brought to shareholders' attention.The financial services provider has launched a search for a successor as CFO while assigning internal staff to interim CFO duties and naming Chief Executive Officer Xiang Ji as its authorized representative, the company said.The board appointed Wai Kin Chim as an independent non-executive director for an initial three-year term and added Koon Wing Ernest Ip to its nomination and remuneration committee effective Saturday, Lufax said.Price: $1.38, Change: $+0.01, Percent Change: +0.88%

$LU

International23d ago

July S&P Global US Flash Manufacturing Falls Unexpectedly, Services Measures Rise

The July flash reading of manufacturing conditions from S&P Global declined to 53.8 from 53.9 in June, compared with an expected reading of 54.4 in a survey compiled by Bloomberg.The slower pace of expansion follows increases in the regional manufacturing sector readings from the New York and Philadelphia Federal Reserve bank, but a decline in the Kansas City Fed's measure.The index for services conditions rose to an eight-month high of 53.6 in July from 51.2 in June, compared with expectations for a smaller increase to 51.5.

Wire23d ago

Tractor Supply's Removal of Long-Term Targets Resets Bar, Morgan Stanley Says

Tractor Supply's (TSCO) removal of its long-term financial framework resets the bar and could present an opportunity for investor sentiment to improve paired with a more achievable framework, Morgan Stanley said in a note Friday.The investment firm said there are three potential interpretations of the elimination of the targets, with the first two as the more likely outcomes.In the first scenario, the long-term targets could return once industry conditions improve, but a recovery in sentiment could also benefit similarly exposed stocks and Tractor Supply would need to offer the best combination of sales acceleration, leverage, and valuation relative to peers, the firm said.In the second scenario, the company recalibrates its operating structure to better align expenses with a structurally slower demand environment, but earnings call comments showed that Tractor Supply continues to position itself as a growth company, according to the note.The third scenario, which Morgan Stanley described as the "most negative interpretation," sees fiscal 2027 as a transition year to reposition the business. Such a decision reflects not only macro uncertainty but also limited visibility into normalized earnings, the firm said.Morgan Stanley lowered the price target on the stock to $35 from $45, with an equal-weight rating.Price: $30.69, Change: $+0.36, Percent Change: +1.20%

$TSCO

Wire23d ago

Jefferies Adjusts Price Target on Dow to $34 From $44, Maintains Hold Rating

Dow (DOW) has an average rating of overweight and mean price target of $35.88, 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: $29.58, Change: $-1.32, Percent Change: -4.27%

$DOW

Wire23d ago

BNP Paribas Adjusts Price Target on Tractor Supply to $34 From $45, Maintains Outperform Rating

Tractor Supply Company (TSCO) has an average rating of overweight and mean price target of $36.46, 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: $30.59, Change: $+0.27, Percent Change: +0.89%

$TSCO

Wire23d ago

BMO Capital Adjusts Price Target on PTC to $155 From $170, Maintains Outperform Rating

PTC (PTC) has an average rating of overweight and mean price target of $176.16, 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: $115.53, Change: $+2.48, Percent Change: +2.19%

$PTC

Wire23d ago

UBS Adjusts Price Target on Western Alliance Bancorp to $90 From $85, Maintains Neutral Rating

Western Alliance Bancorp (WAL) has an average rating of overweight and mean price target of $91.19, 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: $82.92, Change: $-0.11, Percent Change: -0.13%

$WAL

Wire23d ago

UBS Adjusts Price Target on Advanced Micro Devices to $730 From $700, Maintains Buy Rating

Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $549.68, 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: $530.70, Change: $-9.00, Percent Change: -1.67%

$AMD

Oil & Energy23d ago

EMEA Oil Update: Oil Prices Retreat from Record Highs as Traders Book Profits

Oil prices retreated on Friday after a surge in the prior session but markets remained on edge with the Strait of Hormuz still closed and after attacks on tankers this week that have combined to revive fears for global energy supplies.Brent crude futures fell 2.9% to $97.75 per barrel, while Murban crude futures dipped 9.5% to $97.04/bbl. Both contracts were headed for their third straight week of gains.On Thursday, Murban futures hit an all-time of $114.92 per barrel while Brent futures hit their highest since May 22.ING analysts noted that the potential supply disruption facing the market is larger than at any time during the current conflict, with oil flows through the Strait of Hormuz effectively drying up and direct threats expanding to Saudi export routes.Attacks by Yemeni Houthi rebels on Saudi tankers have reduced the scope for Saudi Arabia to rely on the Red Sea as an alternative export route to the Hormuz Strait, market observers said, a backstop facilitated by Saudi Arabia's East-West pipeline.Other bottlenecks appeared during the week, compounding the global oil's supply woes.Kazakhstan was reportedly forced to cut production following attacks on its Caspian Pipeline Consortium terminal in Russia, a critical route accounting for roughly 80% of the country's 1.8 million b/d crude exports.Simultaneously, tight conditions in refined products persist as Russia weighs extending its diesel export ban amid ongoing Ukrainian strikes on domestic refining infrastructure.With commercial traffic through the Strait of Hormuz minimal and back-and-forth US-Iran military strikes showing no signs of slowing up, physical market indicators reflect extreme tightness, analysts said.Dated Brent has surged to $105 per barrel, and analysts warn that unless a diplomatic off-ramp emerges, oil prices will remain highly sensitive to any further logistical or supply shocks.

Sectors23d ago

Gold Steady, Remaining Above $4,000 Despite Inflation Worries

Gold was steady early Friday, sticking above the $4,000 mark even as the dollar rose.Gold for August delivery was last seen down $1.90, or 0.1%, to $4,048.30 per ounce.The price of the metal has found support at the $4,000 mark despite the inflation worries sparked by the high oil prices that followed the launch of the war on Iran. The price of the metal is down 22% since the US and Israel launched strikes on the country on Feb. 28, with investors turning to the dollar amid rate hike fears, bearish for gold since it offers no yield."Higher energy costs have revived the prospect of a Fed rate hike. Money markets now price roughly a 35% chance of an increase at next week's FOMC meeting, up from about 10% a week ago, with a hike fully priced by September," Saxo Bank noted.The dollar edged up early, with the ICE dollar index last seen up 0.05 points to 101.49. Treasury yields edged lower, with the yield on the US two-year note last seen down 0.7 basis points to 4.348%, while the 10-year note was paying 4.688%, down 1.2 points.

$GCQ6$GLD

Equities23d ago

Market Chatter: Kazakhstan Considers Seeking $5 Billion Fine Straight from Oil Majors Behind Kashagan Venture

Kazakhstan is weighing an option to collect a $5 billion environmental fine directly from oil companies involved in the Kashagan oil venture, Bloomberg News reported Friday, citing an email by the country's justice ministry.North Caspian Operating Co, the field's operator, is jointly owned by Kazakhstan's KazMunayGas, Eni (ENI.MI), Shell (SHEL.L, SHELL.AS), ExxonMobil (XONA.F), TotalEnergies (TTE.PA, TTE.L, TTE.BR), China National Petroleum Corp., and Inpex.The developers have been disputing the 2.356 trillion-Kazakhstani-tenge fine for storing excessive amounts of sulfur at the Kashagan oilfield.The ministry did not immediately respond to a request for comment from.(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.)

$ENI.MI$SHEL.L$SHELL.AS$TTE.BR$TTE.L$TTE.PA$XONA.F

International23d ago

S&P Global July US Flash Services PMI 53.6 Vs. 51.5 Estimate; 51.2 Prior

International23d ago

S&P Global July US Flash Manufacturing PMI 53.8 Vs. 54.4 Estimate; 53.9 Prior

Wire23d ago

Dell Technologies Wins Contract to Build Research Platform for Texas A&M Engineering Experiment Station

Dell Technologies (DELL) won a contract from Texas A&M Engineering Experiment Station to design and build the Innovative Growth in Next Generation AI Technology Ecosystem or IGNITE platform, which is funded by the state government, according to a Friday statement.No financial details were disclosed.Dell said IGNITE is intended to support government-sponsored, artificial intelligence-driven industry and academic research. The platform will be powered by AMD (AMD) Instinct MI355X graphics processing units, the company added.Price: $447.25, Change: $+8.25, Percent Change: +1.88%

$DELL

Showing 12961-12980 of 73688

Oil & Energy23d ago