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MGIC Investment Ups Quarterly Dividend 13% to $0.17 a Share, Payable Aug. 20 to Holders of Record Aug. 5

Alphabet Reports $94.1 Billion Stake in SpaceX

Alphabet (GOOG) holds $94.1 billion in Space Exploration Technologies (SPCX) shares, the Google parent said Wednesday in a quarterly regulatory filing.Alphabet said $80 billion of the shares are subject to short-term sales restrictions and $14.1 billion to long-term restrictions through Q3 2027.Other income and expenses in the quarter ended June 30 included net gains on equity securities of $99 billion, primarily from unrealized gains in its equity portfolio related to SpaceX and a private company, Alphabet said.Alphabet shares fell 6.4% in Thursday trading as the broader market slumped, and SpaceX rose 0.5%, erasing earlier losses.Price: $320.04, Change: $-21.87, Percent Change: -6.40%

$GOOG$GOOGL$SPCX

Wire22d ago

Teck Resources Keeps Quarterly Dividend at CA$0.125 a Share, Payable Sept. 29 to Holders of Record Sept. 15

$TECK

Sectors22d ago

Update: Gold Retreats from Two-Week High as Dollar and Treasury Yields Rise

(Updates prices in the second and final paragraphs.)Gold prices retreated midafternoon Thursday, falling off a two-week high as the dollar and yields rose after the US reported a sharp drop in initial jobless claims last week while high oil prices continue to stoke inflation worries.Gold for August delivery was last seen down $100.20, or 2.4%, to $4,051.70 per ounce.The US Labor Department on Thursday reported 187,000 fresh jobless claims last week, down from a revised 209,000 claims a week earlier and under expectations for 212,000 new claims, according to MarketWatch.Rising oil prices as fighting in the Middle East heats up is further stoking inflation fears. The US is continuing attacks on Iran and Yemen's Houthis are striking at tankers in the Red Sea, heightening worries central banks will need to raise interest rates to check prices.The dollar moved higher following the data, a bearish signal for commodities priced in the currency. The ICE dollar index was last seen up 0.33 points to 101.46, the highest since July 1. Treasury yields were sharply higher, with the yield on the US two-year note last seen up 6.4 basis points to 4.366%, while the 10-year note was paying 4.706%, up 3.8 points.

$GCQ6$GLD

Sectors22d ago

Sector Update: Healthcare Stocks Rise Thursday Afternoon

Healthcare stocks were higher Thursday afternoon, with the NYSE Healthcare Index rising 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.9%.The iShares Biotechnology ETF (IBB) climbed up 1%.In corporate news, Thermo Fisher Scientific (TMO) shares jumped past 8% after it reported higher fiscal Q2 adjusted earnings and revenue.Quest Diagnostics (DGX) shares rose 6.6% after the company reported higher Q2 adjusted earnings and revenue, and raised its 2026 outlook.Neuphoria Therapeutics (NEUP) and Scancell Holdings said Thursday they have struck an all-stock merger deal in which Scancell will acquire Neuphoria. Neuphoria shares surged 20%.Westin Acquisition (WSTN) and First Choice Healthcare Solutions said they have agreed to merge to create a publicly traded healthcare and wellness company. Shares edged up 0.2%.

$DGX$NEUP$TMO$WSTN

Wire22d ago

Cass Information Systems Keeps Quarterly Dividend at $0.32 a Share, Payable Sept. 14 to Holders of Record Sept. 4

$CASS

International22d ago

Scotiabank Staying Bullish on the Canadian Dollar Over the Medium-Term

Scotiabank is maintaining a medium-term bullish view on the Canadian dollar (CAD), on an outlook that central bank policy will narrow US-Canada policy rate differentials. The CAD entered Q3 slightly recovering its 2% Q2 decline versus the US dollar, wrote Scotiabank in a note."The forecasted Fed easing is paired with 75bps of tightening from the Bank of Canada, leaving the BoC at 3.25% by the end of our forecast horizon," the report said.The analysts acknowledged that "sentiment and positioning" continue to lean bearish on CAD, which is a "major vulnerability."Scotiabank recently adjusted its USD/CAD forecast and has a Q4 2026 target at $1.37 and a Q4 2027 target at $1.33.

$CXY

Wire22d ago

Planet Fitness App Downloads Signal Slower Member Growth, UBS Says

Planet Fitness (PLNT) app download data suggests some sequential deceleration in member growth in Q2, though active user trends have shown more stability, UBS said in a note Thursday.The company is scheduled to report its Q2 results on Aug. 6.The firm expects same-store sales growth of around 0.7% for the quarter, with focus on whether the company's approximately 1% full-year guidance is at risk.Some franchisees believe the company could introduce a lower-priced third membership tier or move up the timing of a Black Card price increase, with UBS suggesting both could arrive together.The firm does not expect major changes to full-year guidance without a pricing update and expects the same-store growth guidance to be reiterated when results are reported.UBS maintained its buy rating and $79 price target on the stock.Price: $53.48, Change: $-0.57, Percent Change: -1.05%

$PLNT

Wire22d ago

Suburban Propane Partners Keeps Quarterly Dividend at $0.325 a Share, Payable Aug. 11 to Holders of Record Aug. 4

$SPH

Mining & Metals22d ago

Phenom Resources Submits US Provisional Application to Protect Intellectual Property

Phenom Resources (PHNM.V) filed a US provisional application with the country's Patent Office to protect the intellectual property of the metallurgical flowsheet it developed for its high-grade vanadium-nickel opportunity, it said in a statement on Thursday.The company said it was seeking a strategic partner to fund and operate the project, with Phenom retaining part ownership using its recovery processes. Phenom is also seeking US government funds to advance and support the project, it said.Phenom expects the project to be a long-term-operating processing plant that would process high-grade vanadium and nickel feed to generate high purity product at a profit at current prices, it said.Shares of the company were last seen up 4.6% at C$0.34 on the TSX Venture Exchange.Price: $0.34, Change: $+0.02, Percent Change: +4.62%

$PHNM.V

Sectors22d ago

Sector Update: Energy Stocks Higher Thursday Afternoon

Energy stocks rose Thursday afternoon with the NYSE Energy Sector Index gaining 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index climbed 0.4%, and the Dow Jones US Utilities Index increased 0.2%.Brent crude futures topped $100 a barrel for the first time since May after the US-Iran conflict widened, with Yemen's Iran-aligned Houthis claiming attacks on two Saudi Arabian oil tankers in the Red Sea, news outlets reported.West Texas Intermediate crude oil jumped 6.6% to $92.52 a barrel, and global benchmark Brent surged 7.3% to $100.91. Henry Hub natural gas futures rose 0.3% to $2.93 per 1 million BTU.In sector news, US natural gas stocks rose by 32 billion cubic feet in the week ended July 17, a smaller increase than the 34-billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 41 billion cubic feet in the previous week.In corporate news, Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Eni shares rose 2.1%.Matador Resources (MTDR) agreed to buy Paloma Permian, a portfolio company of EnCap Investments, for $1.28 billion. Matador shares fell 4.6%.Equinor (EQNR) is set to benefit from a boom in commodity prices as oil and gas market disruptions provide the sector with material tailwinds, RBC Capital Markets analysts said in a Thursday note. RBC upgraded the stock's rating to sector perform from underperform. Equinor shares rose 3.7%.

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Oil & Energy22d ago

US Natural Gas Update: Futures Flat After In-Line Storage Build

US natural gas futures were little changed at midday Thursday after government data showed a storage build that largely matched market expectations.The front-month Henry Hub contract price and the continuous contract price both softened by 0.27% to $2.917 per million British thermal units.The US Energy Information Administration reported Thursday that natural gas inventories increased by 32 billion cubic feet in the week ended July 17, within the range of analyst expectations compiled by Aegis Hedging of 20 Bcf to 39 Bcf.Working gas in underground storage totaled 3,056 Bcf, the EIA said, leaving inventories 16 Bcf below year-ago levels but 183 Bcf above the five-year average of 2,873 Bcf.Pinebrook Energy Advisors noted that the surplus to the five-year average was the largest since September, although inventories remained within the historical range.The latest injection was the smallest of the injection season so far, as stronger seasonal cooling demand limited the volume of gas available for storage, analysts said.On the supply side, US natural gas production was estimated at 109.2 Bcf per day, while net Canadian imports fell 13% to 4.7 Bcf/d, bringing total supply to about 114 Bcf/d, according to Gelber & Associates.Power sector demand declined nearly 6% to 46.5 Bcf/d as storm-related cloud cover and cooler temperatures reduced near-term cooling demand, Gelber said.NRG Energy said milder weather across key eastern demand centers contributed to the decline in electricity-sector gas consumption.Weather forecasts point to continued mild conditions across the eastern half of the US in the near term, while above-normal temperatures are expected to persist across the Plains, Rockies and western US through the first week of August, NRG Energy said.LNG demand remained supportive, with feedgas deliveries estimated at 18.1 Bcf/d on Thursday despite extended maintenance at Freeport LNG and the approach of Tropical Storm Bertha, Gelber said.Bertha is expected to weaken quickly after landfall, limiting potential disruptions to natural gas demand if coastal power infrastructure and pipeline systems avoid significant outages.

US Markets22d ago

Update: Equity Markets Fall Intraday as Brent Crosses $100; Alphabet, Tesla Tumble

(Updates with latest market prices and developments.)US benchmark equity indexes were lower intraday, weighed down by post-earnings selloffs in Alphabet (GOOG, GOOGL) and Tesla (TSLA) shares, while a widening Middle East conflict sent Brent crude above $100 a barrel.The Nasdaq Composite was down 2.1% at 25,160.8 after midday Thursday, while the S&P 500 fell 1.2% to 7,411.4. The Dow Jones Industrial Average dipped 0.9% to 51,747.98. Among sectors, consumer discretionary and communication services saw the steepest declines, both shedding more than 4%, while industrials paced the gainers.Alphabet's class A shares were down 6.3% intraday, the worst performer on the Dow, while its class C shares slumped 6.2%. Late Wednesday, the Google parent raised its 2026 capital expenditure guidance as it reported stronger-than-expected revenue for the second quarter amid a surge in the Google cloud segment's sales.Tesla's stock slumped nearly 14% intraday, the steepest decline on the S&P 500. Late Wednesday, the electric vehicle manufacturer reported an unexpected year-over-year decline in its second-quarter earnings, weighed down by higher operating expenses.Brent futures were trading 7.2% higher at $100.85 a barrel, after rising to as high as $101.20 earlier in the day. The global benchmark crossed the $100 level for the first time since May. West Texas Intermediate crude jumped 6.8% to $92.74.US gas prices hit an average $4.091 per gallon on Thursday, up from $3.943 a week ago, according to data from AAA, a travel organization that tracks fuel prices in the country.The Iran-backed Houthi militants in Yemen reportedly claimed attacks on two Saudi Arabian oil tankers in the Red Sea.US President Donald Trump threatened "major military punishment" against Iran if its Houthi proxy continues attacking ships, according to his social media post on Thursday. The US Central Command said Wednesday it struck Iran for the 12th consecutive night.Treasury yields were higher intraday, with the two-year rate rising 5.3 basis points to 4.36% and the 10-year rate rising 4.2 basis points to 4.7%."Rising oil prices have revived talk of a (Federal Reserve) rate hike, with rates markets now beginning to treat next week's (Federal Open Market Committee) meeting as a live decision after the 10-year yield pushed back toward its year-to-date high," Saxo Bank said in a report Thursday.The probability that the Fed will leave its benchmark lending rate unchanged next week fell to 64% Thursday from 88% a week earlier, according to the CME FedWatch tool. The odds of a quarter-percentage-point increase rose about 36% from 12%.Elsewhere in the corporate sector, RTX (RTX) and Lockheed Martin (LMT) raised their full-year guidance after both defense contractors reported second-quarter results above Wall Street's expectations. Lockheed was up 9.1% intraday, while RTX advanced 7.2%, both among the biggest gainers on the S&P 500.Gold fell 2.4% to $4,053.90 per troy ounce, while silver lost 3.7% to $58.10 per ounce.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$LMT$RTX$TSLA

Sectors22d ago

Sector Update: Financial Stocks Softer in Afternoon Trading

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index was falling 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.Bitcoin (BTC-USD) was declining 2% to $64,717, and the yield for 10-year US Treasuries was rising 4.2 basis points to 4.70%.In sector news, the US Justice Department will return to implementing targeted probes to expedite the review of merger deals, it said Thursday. The DOJ is "working to eliminate bureaucratic burdens while still preserving the integrity of Second Request investigations, which are aimed at protecting American consumers and affordability," said Associate Attorney General Stanley E. Woodward Jr.In corporate news, Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Ares shares rose 1.5%.Nasdaq (NDAQ) shares were up 0.7% after the company posted higher Q2 non-GAAP earnings and net revenue.KKR (KKR) plans to gradually sell its stake in Taiwan's LCY Chemical, Bloomberg reported, citing LCY Group Chairman Bowei Lee. KKR shares added 0.3%.Coinbase (COIN) plans to expand its Singapore workforce to about 200 employees by the end of 2026 from around 150 currently, despite broader global job cuts, The Business Times reported, citing Singapore Country Director Hassan Ahmed. Coinbase shares were down 1.4%.

$ARES$COIN$KKR$NDAQ

Wire22d ago

Top Midday Decliners

Albertsons (ACI) shares slumped amid heavy trading after the grocery chain lowered its fiscal 2026 earnings and identical sales outlook and reported weaker-than-expected Q1 profit on Thursday.Shares slumped 23% as intraday trading volume catapulted to over 31.3 million from a daily average of about 6.88 million.Tesla (TSLA) shares dropped 14% amid heavy trading after the firm reported a steeper-than-expected drop in Q2 adjusted earnings late Wednesday.Gross and operating margins missed consensus "considerably," and "more important aspects are an increase in capital investments and operating expenses related to the AI transition," Truist Securities said in a note. Free cash flow turned negative in Q2, with an outflow of $1.1 billion.More than 75.7 million shares of the company traded intraday compared with a daily average of about 47.3 million.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) after the company violated the Digital Markets Act through self-preferencing in Google Search and anti-steering practices on Google Play.Shares declined 6.4% as intraday trading volume jumped to over 31.7 million from the stock's daily average of about 22.0 million.Price: $11.27, Change: $-3.34, Percent Change: -22.84%

$ACI$GOOG$GOOGL$TSLA

Sectors22d ago

Sector Update: Consumer Stocks Fall Thursday Afternoon

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 4.4%.In corporate news, Tesla (TSLA) shares fell past 13% after it reported an unexpected year-over-year decline in Q2 earnings, weighed by higher operating expenses related to research and development and AI initiatives.Albertsons (ACI) shares tumbled 23% after the grocery chain lowered its fiscal 2026 earnings and identical sales outlook and reported weaker-than-expected Q1 profits.American Airlines (AAL) lowered its full-year earnings outlook on Thursday as higher fuel costs drove Q2 bottom-line lower year on year, adding to signs that rising fuel prices are weighing on airline profitability. Shares dropped 9.3%.

$AAL$ACI$TSLA

Sectors22d ago

Sector Update: Tech Stocks Decline Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.1%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 6.2%.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 1.6%, and AMD fell 3.1%.IBM (IBM) said Thursday that it has agreed to acquire research and development institution HRL Laboratories from joint owners Boeing (BA) and General Motors (GM). IBM shares were down 0.7%.

$AMD$GOOGL$IBM$INTC

Oil & Energy22d ago

Oil Prices Face Fresh Upside Risks as Supply Recovery Uncertainty Grows, Rystad Energy Says

Oil prices face growing upside risk as prolonged Gulf supply disruptions, shrinking market buffers and uncertainty over key export routes outweigh expectations for the Strait of Hormuz to reopen, Rystad Energy said in a note on Thursday.The firm said the market has shifted its attention from whether the Strait reopens to how quickly and sustainably exports recover, while Saudi Arabia's Red Sea outlet remains critical as Persian Gulf shipments stay constrained.Inventory drawdowns, spare production capacity and alternative export routes have helped offset lower oil flows through the Strait of Hormuz since March, said Janiv Shah, vice president, commodity markets."The bigger question now is how long those buffers can continue to offset supply losses," Shah added.Shah said the market now places greater emphasis on the resilience of physical oil supplies than on geopolitical developments alone."If disruptions continue, oil prices are more likely to rise than they were earlier in the conflict," Shah said.He added that the market has fewer defenses because much of the world's spare production capacity has already been used while strategic and commercial oil inventories have declined.Shah said three factors will shape prices, "... whether crude flows into Asia can be maintained, whether refiners can adapt to a changing mix of crude grades and how geopolitical developments unfold."Rystad assigned a 5% probability to a full-resolution scenario that assumes rapid de-escalation, sanctions relief, unrestricted shipping and binding nuclear limits.The firm said recovering refinery demand and strategic petroleum reserve purchases would support prices after an initial decline.Rystad said governments have little reason to replenish strategic petroleum reserves while the initial wave of exports clears the market.The firm added that renewed refinery demand and later SPR purchases would help support oil prices as supply conditions gradually improve.Rystad assigned a 40% probability to a narrow agreement that restores trade but leaves Iran's nuclear dispute and maritime risks unresolved.The firm said Gulf exports and shipping confidence would recover gradually, keeping a geopolitical risk premium in place.Refinery margins would stay elevated as Asia competes for Persian Gulf sour crude and governments begin refilling strategic petroleum reserves after markets stabilize, with stronger refinery demand helping support oil prices.Rystad assigned a 35% probability to a prolonged stalemate in which Saudi Arabia's Yanbu terminal remains a key export outlet, shipping about 4 million barrels per day, including roughly 2.5 million b/d through Bab el-Mandeb.Under that scenario, the supply constraints would lift crude prices, while strategic petroleum reserve releases would only limit price spikes.Asian refiners could reduce processing because of limited sour crude despite healthy refining margins.The firm added that Europe and US refiners would compete more aggressively for Atlantic Basin and heavy sour crude, while delayed strategic petroleum reserve refilling would leave prices more sensitive to renewed disruptions.Rystad assigned a 20% probability to renewed fighting that closes both the Strait of Hormuz and Bab el-Mandeb.The firm said losing both export routes would overwhelm market buffers and sharply increase geopolitical risk premiums.The firm said Saudi Arabia could reroute some Yanbu exports north through the Suez Canal and the Suez-Mediterranean pipeline.However, vessel restrictions, pipeline capacity, freight costs and logistical constraints would prevent a full replacement of southern shipments.Refinery margins and product cracks would surge under that scenario, but refiners would still struggle to secure enough Middle Eastern sour crude.Analysts said tighter diesel and jet fuel markets would persist despite stronger incentives to process crude.Governments would likely coordinate strategic petroleum reserve releases, but lower inventories, crude quality differences and refinery compatibility would reduce their effectiveness in easing supply disruptions, the note added.Rystad said persistently high crude and refined product prices would eventually curb demand across road fuels, aviation, petrochemicals and price-sensitive emerging markets.The firm expects weaker demand, together with non-Gulf supply growth and gradual trade adjustments, to ease crude markets through 2027.

Wire22d ago

CSX's Margin Story Likely on Track, UBS Says

CSX (CSX) delivered a solid upside to Q2 print, with cost side performance supporting earnings, UBS said in a note Thursday.The report pointed to favorable outlook for volumes despite easing in auto & chemicals as the company expects growth in domestic intermodal, forest products, metals and minerals.The note also said the new capability and efficiency from Howard Street tunnel/double stack project along with further truckload conversion to intermodal provide potential for sequential growth in intermodal off what was already a strong level in Q2.CSX indicated it is too early to provide a view on 2027 pricing, but they are seeing acceleration in domestic spot and rail asset contract renewals in intermodal, the note added."We continue to believe the combination of improving volume growth, future pricing gains (2027) and execution of their cost programs supports margin improvement, EPS growth and upside for CSX stock," the report said.UBS kept its buy rating and a $54 price target.Price: $52.78, Change: $+2.85, Percent Change: +5.71%

$CSX

Sectors22d ago

Sector Update: Energy

$MTDR

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Oil & Energy22d ago