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Rollins Organic Growth Underperformed Mid-Term Guidance for 3 Consecutive Quarters, RBC Says

Rollins' (ROL) organic growth has underperformed the company's mid-term guidance for three consecutive quarters, with incremental margins falling short in seven of the last eight quarters, RBC Capital Markets said in a note Wednesday.RBC lowered its organic revenue growth expectation to 6% for fiscal 2026 and 6.5% for fiscal 2027 and 2028, respectively. The firm now expects EPS of $1.23, $1.40 and $1.60 for 2026 to 2028, respectively, compared with previous estimates of $1.15, $1.22 and $1.37, respectively.Analysts also see three headwinds for the company, including competitive concerns coming from Rentokil Initial (RTO) and Ecolab (ECL), generative AI-drive lead generation challenges amid slowing consumer-initiated digital growth, and macro pressures weighing on one-time revenue.RBC lowered its rating on the company's stock to sector perform from outperform, as well as its price target to $40 from $52.Price: $39.13, Change: $-4.34, Percent Change: -9.98%

$ECL$ROL$RTO

Mining & Metals22d ago

Skyharbour Resources Stakes 46 New Claims in Saskatchewan

Skyharbour Resources (SYH.V) acquired 46 new mineral claims totaling 149,439 hectares in Saskatchewan, the company said Thursday.Skyharbour's total portfolio now consists of ownership interests in 682,100 ha (1.69 million acres) across 44 uranium properties in the Athabasca Basin.The new claims will become part of Skyharbour's "prospect generator" business. The company will seek strategic partners to advance the assets through option and joint venture agreements. It will maintain exposure to future exploration success through minority property ownership interests, royalties and ownership stakes in partner companies, the statement said.Skyharbour Resources shares were last seen down C$0.035, to C$0.395, on the TSX Venture Exchange.Price: $0.40, Change: $-0.04, Percent Change: -8.14%

$SYH.V

Wire22d ago

Equinor Set to Benefit From Boom in Commodity Prices, RBC Says

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.Analysts said they support the company's move toward a slightly broader international strategy and expect the current windfall to provide greater optionality for future inorganic activity.RBC said oil product tightness will likely be the most significant bottleneck for the energy complex, considering ongoing disruptions in the Middle East and in Russia.Analysts added that since Equinor is sensitive to European gas prices, it is expected to benefit from short and long-term changes in gas prices.RBC upgraded the stock's rating to sector perform from underperform, and raised its price target to 420 Norwegian Kroner ($43.7) from 360 Norwegian Kroner.Price: $41.50, Change: $+1.54, Percent Change: +3.84%

$EQNR

Wire22d ago

Westinghouse Re-Rating Likely to Continue, Morgan Stanley Says

Westinghouse Air Brake Technologies (WAB) shares should re-rate further on strong backlog and large order prospects, Morgan Stanley said in a note Thursday after Q2 results beat."On top of record backlog levels, strong conviction in additional large orders provides visibility into earnings in 2027 and beyond," the report said. "Shares should continue to re-rate higher from here."The note pointed to an all-time high in backlog of $30.9 billion, up 41.7% from a year ago, with existing and incremental order announcements expected to bolster 2027 setup.The report also said its core fundamentals like carload growth appear to be turning positive, strengthening its flow business not already reflected in backlog.Morgan Stanley boosted its price target to $355 from $318 while reiterating its overweight rating.Price: $296.93, Change: $+6.93, Percent Change: +2.39%

$WAB

Mining & Metals22d ago

Gold Runner Gets 5-Year Drilling Permit at Golden Girl Property in British Columbia

Gold Runner Exploration (GRUN.CN) received a five-year drilling permit from the British Columbia Ministry of Mines and Critical Minerals for the company's Golden Girl property, it said in a statement on Thursday.The 2026 surface exploration program is underway as scheduled, mobilization was completed on July 12, and field work began on July 13, the company said.The drilling permit, which allows for up to 100 drilling locations on the Golden Girl property, is valid and in good standing until March 31, 2031.Shares of the company were last down 1.1% at C$0.445 on the Canadian Securities Exchange.Price: $0.45, Change: $-0.01, Percent Change: -1.11%

$GRUN.CN

Wire22d ago

Jefferies Raises Edison International Price Target to $68 From $66

Edison International (EIX) has an average rating of hold and mean price target of $76.75, according to analysts polled by FactSet.Price: $80.35, Change: $-0.03, Percent Change: -0.04%

$EIX

Wire22d ago

Tesla's FSD, Robotaxi Expansion Seen as Key Growth Drivers After Q2 Miss, BofA Says

Tesla (TSLA) Q2 results missed expectations mainly due to weaker auto margins, but continued momentum in Full Self-Driving, or FSD, and Robotaxi deployment remains key future catalysts, BofA Securities said in a note Wednesday.Automotive gross margin came in at 16.9% versus expectations of 19.4%, impacted by lower regulatory credit revenue and lower vehicle average selling prices. Higher research and development spending, including ramp costs for the Semi, Optimus, and Cybercab programs, also pressured profitability, the firm said.The company reported record new FSD subscriptions, fleet penetration above 15%, and a 55% North America delivery attach rate. Energy Generation and Storage performed better than expected, the firm said.Tesla maintained its 2026 capital expenditure outlook of more than $25 billion, while BofA lowered its 2026 EPS estimate to $1.76 from $2.13 due to weaker auto and energy margins and higher R&D spending."Tesla continues to scale robotaxi which we think is the key focus item for investors currently," the firm said, adding that the Robotaxi service is now operating in seven markets, including six with unsupervised operations. The company has accumulated about 380,000 unsupervised Robotaxi miles without a major safety incident.BofA reiterated its buy rating and $460 price target on Tesla. The company's shares were down about 14% in the session.Price: $321.19, Change: $-52.82, Percent Change: -14.12%

$TSLA

Wire22d ago

Crocs Has Q2 Upside Potential, Strengthening H2 Outlook, BofA Says

Crocs (CROX) has the potential to deliver Q2 upside and enter the second half of 2026 with strengthening momentum, supported by North American direct-to-consumer momentum and new product launches, BofA Securities said in a Thursday note.The analyst said sustained North American direct-to-consumer momentum, led by newer products such as sandals, could drive a Q2 beat, with easier comparisons in the second half as the company laps last year's promotional and wholesale sell-in reductions.BofA also said lower tariff costs could support Q2 margins, though the benefit may be partly offset by a richer mix of newer products and lower-margin channels, while early Q3 launches of Echo 2 and Mellow 2 are expected to sustain demand.BofA maintained its buy rating on the stock and raised its price objective to $160 from $145.Crocs shares were down 2.7% in Thursday trading.Price: $132.52, Change: $-3.68, Percent Change: -2.70%

$CROX

Wire22d ago

Reddit Seen Benefiting From User Growth, Ad Momentum, AI Deals, Wedbush Says

Reddit (RDDT) is expected to deliver strong Q2 results, driven by faster US user growth, improved advertising tools and stronger AI licensing terms, Wedbush Securities said Thursday in a report.Reddit's investments in feed quality, app speed, new-user activation and search are seen moving US daily users closer to management's target of 100 million, while Reddit Max, search ads, Dynamic Product Ads and its Shopify integration help attract more small businesses and retailers, the report said.Reddit Answers is expected to keep gaining users, and the search product may create another source of advertising revenue over time, with Alphabet's (GOOG, GOOGL) Google and OpenAI content licensing as another possible growth driver, Wedbush said.Reddit and Google will likely maintain their relationship and may build deeper links because posts written by users add value to AI search results, the report said.Wedbush added Reddit to its "Best Ideas List" and maintained its outperform rating with $250 price target on the stock. Q2 results are expected July 30.Price: $169.94, Change: $-0.44, Percent Change: -0.26%

$RDDT

Wire22d ago

Jefferies Adjusts Consolidated Edison Price Target to $121 From $122

Consolidated Edison (ED) has an average rating of Hold and mean price target of $112.16, according to analysts polled by FactSet.Price: $112.68, Change: $+0.59, Percent Change: +0.53%

$ED

Wire22d ago

Jefferies Adjusts Price Target on American Water Works to $128 From $134

American Water Works (AWK) has an average rating of hold and mean price target of $140.40, 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: $135.04, Change: $+1.21, Percent Change: +0.90%

$AWK

Wire22d ago

Update: Morgan Stanley Adjusts Price Target on Tesla to $400 From $417 on 'Elevated Cash Burn', Maintains Equalweight Rating

(Updated to include Morgan Stanley commentary)Morgan Stanley lowered Tesla's (TSLA) price target to $400 from $417, reflecting prolonging cash burn due to accelerating capital expenditures.The heavy capital expenses cycle is necessary for he EV maker to retain its position in robotics and autonomy. However, timing for return on investment to be tangible remains unknown, resulting in a lower valuation.Tesla has an average rating of hold and mean price target of $392.39, 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: $320.64, Change: $-53.37, Percent Change: -14.27%

$TSLA

Commodities22d ago

Kazakhstan Cuts Oil Output After CPC Terminal Suspension, Ministry Says

Kazakhstan has temporarily reduced oil production after loading operations at the Caspian Pipeline Consortium marine terminal were suspended, the Energy Ministry said on Thursday.In a social media post on Telegram, the ministry said loading operations at the CPC Marine Terminal were temporarily halted to ensure the safety of vessels, crews and the environment in the Black Sea. The announcement follows several drone attacks in recent days.All of the consortium's production and technical facilities remained operational and were ready to resume crude oil transshipment once conditions returned to normal, the ministry said.Restrictions on oil intake into the pipeline system prompted oil producers to make a controlled adjustment to daily output to prevent storage facilities from becoming overstocked, the ministry said. It described the reduction as a temporary technical measure aimed at maintaining stable production processes.The ministry said it remained in contact with CPC management, major shippers, ship owners and government agencies to develop measures to ensure safe navigation and a swift resumption of stable exports of Kazakh oil to global markets.Reuters reported on Thursday that Kazakhstan's oil production had declined after the closure of the Black Sea terminal, the country's main crude export outlet, which was recently targeted by drone attacks.The decline was particularly sharp at the Chevron-led Tengiz field, Kazakhstan's largest oilfield. One source said output there more than halved to about 406,000 barrels per day on Wednesday from an average of 925,000 bpd in July.Kazakhstan's overall oil and gas condensate production fell to 1.63 million bpd on Wednesday from a July average of 2.07 million bpd.The CPC pipeline, which handles more than 80% of Kazakhstan's oil exports and nearly 2% of global oil supply, stopped receiving Kazakh crude after suspending loadings at its Russian Black Sea terminal.Russia has accused Ukraine of targeting CPC tankers as part of an effort to "further destabilize the situation on global oil markets." Ukraine, which has intensified strikes on Russian energy infrastructure in recent months, has not commented on the attacks, Reuters said.

International22d ago

US New-Home Sales Expected to Rise in June After Decline in May

US new single family home sales are expected to rise to a 606,000 annual rate in June based on a survey compiled by Bloomberg, after falling to a 580,000 annual rate in May.Sales would still be below the 665,000 annual rate reported in June 2025.The data are scheduled to be released at 10:00 am ET Friday.Supply of new homes for sale was below its year-ago level in last month's report for May, while prices were higher.Single-family existing home sales fell by 2.4% in June, according to data released on July 9, but were up 3.3% from a year ago.Recent mortgage application data from the Mortgage Bankers Association indicated that mortgage rates fell modestly in June.Home building data for April released on July 17 showed a decline in building permits but gains in both housing starts and in home completions, adding to the supply of new homes for sale.The National Association of Home Builders reported on July 16 that builder sentiment fell to 36 in June from 37 in May before declining further to 34 in July, noting continued affordability challenges.

Commodities22d ago

US Crude Inventories Rose 2 Million Barrels as Refiners Run Near Full Capacity, EIA Says

US commercial crude oil inventories rose by 2 million barrels last week, while refinery operations remained strong and transportation fuel demand showed modest gains over the year, the US Energy Information Administration said Wednesday.Commercial crude stocks, excluding the Strategic Petroleum Reserve, climbed to 411.7 million barrels for the week ended July 17, but remained 6% below the five-year average for the 2021-2025 period, according to the EIA's weekly petroleum status report.Total commercial petroleum inventories increased by 11.6 million barrels during the week.Gasoline inventories rose by 800,000 barrels but were still 7% below the five-year average, while distillate stocks increased by 1.4 million barrels and stood 10% below the historical average.Propane and propylene inventories posted a larger gain, rising 6.3 million barrels and remaining 34% above the five-year average.US refineries operated at 96.1% of capacity, processing 17.1 million barrels per day, a decline of 58,000 b/d from the previous week. Gasoline production averaged 9.7 million b/d, while distillate output increased to 5.3 million b/d.Crude oil imports rose by 117,000 b/d to 5.8 million b/d. Despite the weekly increase, the four-week average of 5.6 million b/d was 11% below the level recorded a year earlier.Gasoline imports averaged 494,000 b/d, while distillate imports averaged 173,000 b/d.Total US petroleum product demand averaged 20.4 million b/d over the past four weeks, down 1% from the same period last year.Gasoline demand increased 1% year over year to 8.9 million b/d, while distillate demand rose 2% to 3.7 million b/d. Jet fuel demand posted a stronger gain, rising 9% from a year earlier.The increase in transportation fuel demand was partially offset by weaker consumption of residual fuel oil, propane, and other petroleum products, the EIA said.

Wire22d ago

IBM H2 Recovery Plausible on Early Deal Recapture, Higher Productivity, Morgan Stanley Says

International Business Machines' (IBM) second half recovery scenario is plausible, supported by early deal recapture and improved productivity, but the guidance leaves little margin for error and requires a sharp recovery in its Z business, Morgan Stanley said in a note Thursday.IBM's bull case suggests it has already recouped one-third of the push deals from Q2, subscription-based spending remains strong, recent acquisitions are gaining traction, Consulting is gradually recovering, and mainframe will remain central to its customer base, driving the software flywheel in H2, according to the note.The brokerage estimates the H2 "base case" guidance assumes a meaningful recovery in Software and z17, requiring sequential revenue dollar growth stronger than the last 3 years, even as management acknowledges that the capital expenditure deferral environment and below-normal pipeline yields are expected to persist, the note added.Management said the Q2 deal shortfall was transitory and the Q3 print and Q4 guidance should help clarify the debate, the brokerage said.Morgan Stanley kept an equal weight rating on IBM and lowered its price target to $190 from $293.Price: $206.23, Change: $+0.46, Percent Change: +0.22%

$IBM

Wire22d ago

Amazon.com Seen Maintaining AI Focus Despite Higher Capex, Wedbush Says

Amazon.com (AMZN) continues to offer a favorable long-term artificial intelligence opportunity despite investor focus on capital spending and free cash flow, Wedbush said in a Thursday note.The firm said it will focus on Amazon's capital spending outlook, Amazon Web Services' backlog, artificial intelligence revenue and potential external Trainium chip sales when the company reports Q2 results.Wedbush expects continued investment in Trainium capacity and the Amazon Leo satellite network while monitoring management's commentary on demand and capacity. The firm also expects North America retail margins to continue improving through automation, faster delivery hubs and AI-driven personalization.Advertising remains an important margin contributor through Prime Video's advertising tier and the company's demand-side platform, Wedbush analysts noted.Amazon will report Q2 results after markets close on July 30.Shares of the company were 5% lower in Thursday trading.Wedbush maintained its outperform rating on Amazon and its $293 price target.Price: $232.93, Change: $-11.92, Percent Change: -4.87%

$AMZN

Wire22d ago

BNP Paribas Adjusts Otis Worldwide Price Target to $86 From $90

Otis Worldwide (OTIS) has an average rating of overweight and mean price target of $92.60, according to analysts polled by FactSet.Price: $69.94, Change: $-0.47, Percent Change: -0.67%

$OTIS

Wire22d ago

Baird Raises Apple Price Target to $330 From $310

Apple (AAPL) has an average rating of overweight and mean price target of $321.38, 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: $321.51, Change: $-4.38, Percent Change: -1.34%

$AAPL

Mining & Metals22d ago

Graycliff Exploration Up 31% as it Begins Exploration Drilling at Shakespeare Gold Project

Graycliff Exploration (GRAY.CN) shares rose 31% after the company on Thursday said it started exploration drilling at its Shakespeare Gold project, located near Sudbury, Ontario.Drilling is underway on a large-diameter (HQ) core hole positioned directly behind Hole A, it said. Graycliff said this metallurgical hole is designed to sample material below Hole A to collect additional representative core for initial mineralogical, extraction, and concentration testing of the gold mineralization.The company plans to immediately transition to drill-testing high-priority targets to further define and expand the main gold zone, on completion of this metallurgical hole.Shares of the company were last seen up C$0.09 at C$0.39 on the Canadian Securities Exchange.Price: $0.39, Change: $+0.09, Percent Change: +30.00%

$GRAY.CN

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Commodities22d ago