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Circle Internet Shares Drop After Raymond James Initiates Coverage at Market-Perform

Circle Internet (CRCL) shares were down 7.3% in afternoon trading on Wednesday after Raymond James initiated coverage of the company's stock at market-perform.Trading volume stood at more than 6.7 million shares against a daily average of around 15.1 million.Price: $65.68, Change: $-5.40, Percent Change: -7.60%

$CRCL

Wire22d ago

Sherwin-Williams Keeps Quarterly Dividend at $0.80 a Share, Payable Sept. 11 to Holders of Record Aug. 21

$SHW

Oil & Energy22d ago

Iran Warns on Regional Oil Exports; Says Strait of Hormuz Won't Return to Pre-War Conditions

Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Wednesday that if Iran cannot export its oil, no country in the region would be able to export oil, according to a post on X.Ghalibaf said regional infrastructure would not be secure and that the Strait of Hormuz would not return to pre-war conditions as long as US forces remained in the region."We have repeatedly said that the situation of the strait will not return to pre-war conditions," Ghalibaf posted on X.Ali Akbar Velayati, an adviser to Iran's supreme leader, reportedly warned that any miscalculation against Iran could ignite global energy markets. He said US pressure and efforts to rally regional allies and European partners would spread the consequences beyond military conflict into the global economy, according to Tasnim News.Iranian Foreign Ministry spokesperson Esmaeil Baqaei alleged that the US was breaching international law through repeated attacks and threats against Iran's nuclear facilities in a post on X on Wednesday.Iran's nuclear activities have been fully declared to the International Atomic Energy Agency in accordance with its safeguards obligations, Baqaei said on X.He alleged that Washington is using Kolang Kouh, or Pickaxe Mountain, as a pretext for aggression, destruction and sabotage despite no nuclear activity there."The Iranian people stand resolute and united, ready to confront with full strength any act of US hostility or violation of their country's sovereignty and national security," Baqaei said in the post.Iran's Ministry of Foreign Affairs did not immediately reply to' request for comment.The remarks followed warnings by US President Donald Trump on Truth Social on Wednesday. Trump warned Iran against shooting at commercial vessels in the Strait of Hormuz, a vital artery for energy flows."From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by missile, rocket, drone, or any other device or weapon, the United States will bomb and destroy one bridge or power plant, including those located next to, or in, the Capital City of Tehran," Trump posted.Centcom said Tuesday that US forces began striking military targets in Iran at 7 p.m. ET for an 11th consecutive night to further degrade Tehran's ability to threaten commercial shipping in the Strait of Hormuz, according to the command's post on X.Meanwhile, the US Central Command continued its naval blockade against Iran on Wednesday as Tehran warned no country in the region would sell oil if Iran could not."To ensure full blockade compliance, Centcom has redirected 9 commercial vessels and disabled 1 as of July 22," Centcom posted on X.It said the USS Michael Murphy's Combat Information Center coordinated the latest enforcement efforts as US forces continued the naval blockade against Iran from the Arabian Sea, according to the post.

Wire22d ago

GSK Gets FDA Approval for Jideytro in Previously Treated ROS1-Positive Lung Cancer

GSK (GSK) said Wednesday the US Food and Drug Administration has approved Jideytro, a ROS1-selective inhibitor, to treat adults with locally advanced or metastatic ROS1-positive non-small cell lung cancer who have previously received a ROS1 kinase inhibitor.The approval, based on the phase I/II Arros-1 trial, comes ahead of the original Sept. 18 target action date after the FDA granted Jideytro Breakthrough Therapy and Orphan Drug designations.The therapy aims to combine high target-selectivity, broad coverage of ROS1 resistance mutations, and blood-brain barrier penetration to address disease in the brain, the company added.Jideytro is GSK's first approved medicine in lung cancer.Price: $50.93, Change: $+0.15, Percent Change: +0.30%

$GSK

International22d ago

Daily Roundup of Key US Economic Data for July 22

The Mortgage Bankers Association reported a 1.9% increase in mortgage applications in the week ended July 17 after a 2.7% decrease in the previous week, with refinancing activity lower and new home applications higher despite the highest mortgage rates since August.Total crude oil inventories fell by 3.0 million barrels in the week ended July 17, with commercial oil inventories up 2.0 million barrels and stocks in the US Strategic Petroleum Reserve down 5.1 million barrels. Gasoline inventories and distillate inventories both increased last week.

Wire22d ago

Update: Rocket Lab Shares Rise After Winning $266 Million Air Force Contract for Suborbital Launch

(Updates with the latest stock price movement in the headline and first paragraph.)Rocket Lab (RKLB) shares rose 1.5% in Wednesday trading, a day after the company won an Air Force contract.The company was awarded a $266 million firm-fixed-price completion contract for suborbital launch vehicles, the US Department of Defense said Tuesday.Work for the Air Force project is expected to be completed by Dec.31, 2028, according to a statement.Price: $70.12, Change: $+1.00, Percent Change: +1.45%

$RKLB

Wire22d ago

Paramount Skydance Wins Conditional EU Approval for Warner Bros. Discovery Deal

Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD), the regulator said in a statement.The deal raised concerns about reduced competition in theatrical film distribution because Paramount jointly controls United International Pictures with Universal, the commission said in a press release dated Wednesday.To address those concerns, Paramount agreed to sell its stake in UIP within 13 months of closing and to refrain from co-distributing films with Universal in EU member states for 10 years. It also committed not to shift Warner's or its own film distribution in ways that would expand overlap with Universal, the commission said.Price: $8.79, Change: $+0.26, Percent Change: +2.99%

$PSKY$WBD

Wire22d ago

Truist Securities Lifts Fifth Third Bancorp Price Target to $64 From $60

Fifth Third Bancorp (FITB) has an average rating of overweight and mean price target of $62.40, 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: $57.76, Change: $+0.10, Percent Change: +0.16%

$FITB

Oil & Energy22d ago

Houthi Threats Put Saudi Arabia's Red Sea Oil Export Lifeline at Risk, Kpler Says

Saudi Arabia's bypass for disrupted Strait of Hormuz oil shipments is facing renewed pressure after Yemen's Houthi rebels threatened a maritime embargo, raising concerns that a second strategic chokepoint could complicate global crude flows, Kpler strategists said in a note on Wednesday.The threat has yet to cause widespread disruption, with most tankers continuing to operate via the Bab el-Mandeb strait, but shipowners and traders are already reassessing risks.Homayoun Falakshahi, head of crude oil analysis at Kpler, said that the market response is focused less on immediate supply losses and more on the potential for higher freight costs, rising war-risk premiums and tighter availability of Middle Eastern crude grades.Saudi Arabia has increasingly relied on its Red Sea export terminals at Yanbu after traffic through the Hormuz was severely reduced following escalating regional tensions.Since April, Kpler said about 3.5 million barrels per day of Saudi crude has moved through the Red Sea route, compared with an average of about 120,000 b/d before the conflict.The Houthi announcement threatens that alternative route, effectively putting Riyadh's Hormuz bypass strategy under pressure.Kpler said that shipping activity has shown early signs of caution. Several vessels have altered course or paused voyages as operators assess security conditions, similar to the behavior seen during the Red Sea shipping disruptions of 2023/25.The latest shipping data showed selective changes rather than a broad withdrawal from the route.An Aframax tanker carrying Saudi crude to India reversed course after heading toward the Gulf of Aden, while another vessel carrying Yanbu cargoes continued transiting normally.A tanker transporting Sudanese Dar blend also diverted from its route toward the Gulf of Aden and moved closer to the Sudanese coast, highlighting how operators are making case-by-case decisions rather than abandoning Bab el-Mandeb entirely.Kpler said the selective nature of these moves suggests that the market is responding to elevated risk rather than a confirmed physical blockade.Meanwhile, the latest threat is already influencing crude pricing. Brent has strengthened relative to Dubai as buyers seek alternatives outside the Middle East, widening the Brent-Dubai Exchange of Futures for Swaps toward $10 per barrel.Dubai's prompt structure has also firmed, with the M1-M3 spread rising above $1.50/bbl as concerns grow over near-term availability of medium sour barrels.A prolonged increase in shipping risk could further support medium sour crude differentials, particularly as longer voyages, higher insurance costs and potential vessel substitutions increase transportation expenses.Kpler said market participants are viewing Atlantic Basin barrels as increasingly attractive as refiners diversify away from Middle East supply risk.The immediate vulnerability is concentrated among Asian refiners, particularly in Northeast Asia, where Saudi Arab grades remain an important source of medium sour crude.Asia-bound Saudi cargoes now represent the majority of Bab el-Mandeb crude traffic, meaning any disruption to Yanbu exports would disproportionately affect buyers in China, South Korea and Japan, Falakshahi said.Kpler said that unlike Hormuz, where a disruption could affect a much larger share of global oil flows, the Bab el-Mandeb risk is more targeted. However, its importance has increased because Saudi Arabia has shifted more exports through the route.

Mining & Metals22d ago

Element Fleet Management Launches AI Tool DigiAdvisor

Element Fleet Management (EFN.TO) launched DigiAdvisor, a new AI-powered decisioning tool that facilitates vehicle fleet service decisions, it said Wednesday.DigiAdvisor, an AI layer built into Element's service operations, combines "connected vehicle data, operational intelligence, supplier insights, and historical fleet transactions into a single decisioning experience," said the company."DigiAdvisor combines decades of our fleet expertise with AI and connected vehicle intelligence, so our teams can spend less time searching for information and more time solving problems for clients," said Manpreet Rana, vice president of Fleet Care and Logistics at Element Fleet Management.The company's shares were last seen unchanged at C$30.56 on the Toronto Stock Exchange.Price: $30.50, Change: $-0.06, Percent Change: -0.20%

$EFN.TO

Wire22d ago

Piper Sandler Lowers Chubb Price Target to $360 From $374

Chubb (CB) has an average rating of overweight and mean price target of $367.22, 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: $340.60, Change: $-14.20, Percent Change: -4.00%

$CB

Wire22d ago

RBC Raises Price Target on PulteGroup to $116 From $115, Keeps Sector Perform Rating

PulteGroup (PHM) has an average rating of overweight and mean price target of $143.08, 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: $125.94, Change: $+1.68, Percent Change: +1.35%

$PHM

Mining & Metals22d ago

First Atlas Resources Starts Field Exploration Program on Nova Scotia Hydrogen Properties

First Atlas Resource (HHE.CN) said Wednesday exploration field work is underway at its natural hydrogen licenses in Cumberland County, Nova Scotia.The company signed a technical advisory agreement with Quebec Innovative Materials (QIMC.CN), who have three field teams active in the Advocate-Cumberland Basin area conducting geochemical sampling and ground magnetic surveying, a statement said.First Atlas expects field activities to continue throughout the summer exploration season.First Atlas shares edged up C$0.005 to C$0.05 on the Canadian Securities Exchange.Price: $0.05, Change: $+0.01, Percent Change: +11.11%

$HHE.CN$QIMC.CN

Wire22d ago

Baird Lifts Moody's Price Target to $572 From $557

Moody's (MCO) has an average rating of overweight and mean price target of $555.55, 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: $490.23, Change: $-0.54, Percent Change: -0.11%

$MCO

Wire22d ago

TD Cowen Raises CME Group Price Target to $292 From $270

CME Group (CME) has an average rating of overweight and mean price target of $280.60, 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: $251.25, Change: $+13.87, Percent Change: +5.84%

$CME

Wire22d ago

Top Midday Decliners

China Pharma (CPHI) priced its registered direct offering of 2.5 million common shares at $2 each, targeting gross proceeds of $5 million, it said Wednesday.Shares sank 77%, with intraday trading volume surging to over 12.3 million from a daily average of roughly 3.88 million.GE Vernova (GEV) reported Q2 earnings Wednesday of $2.47 per diluted share, up from $1.86 a year earlier and below the FactSet consensus analyst estimate of $3.18.Meanwhile, GE Vernova is preparing contracts to help strengthen Venezuela's power grid and would be close to signing them had the country not suffered a recent earthquake, Bloomberg reported Wednesday, citing an interview with Chief Executive Officer Scott Strazik.Shares declined 8% as intraday trading volume jumped to over 3.27 million from the stock's daily average of about 2.86 million.Axe Compute (AGPU) reported more than $1.3 billion in new customer contracts across the US and Europe, propelling the company beyond its 2026 goal of $1 billion in signed contracts, it said Wednesday. Revenue is expected to begin in late Q4, with prepayments due in Q3, boosting annual recurring revenue to over $384 million upon deployment.Still, shares slumped 26% as intraday trading volume soared to over 2.82 million from a daily average of about 416,000.Price: $1.84, Change: $-6.27, Percent Change: -77.35%

$AGPU$CPHI$GEV

Sectors22d ago

Update: Gold Rises to Two-Week High as Weaker Dollar Boosts Prices

(Updates prices in the second and final paragraphs.)Gold traded at a two-week high midafternoon Wednesday, climbing for a second-straight session as the US dollar weakened.Gold for August delivery was last seen up $75.20, or 1.8%, to $4,151.60 per ounce, the highest level since July 7.Still, the metal remains down 7.5% since the start of the year, as the Middle East conflict has driven up energy costs, fueling concerns that central banks may need to raise interest rates and prompting investors to favor the US dollar and bonds over gold. However, the metal has found support around the $4,000 level, falling below that mark only once over the past month."Bullion is holding up despite firmer US yields and a stronger dollar, as energy-driven inflation risk and safe-haven demand from the Middle East conflict outweigh those headwinds," Saxo Bank noted.The dollar eased, with the ICE dollar index last seen down 0.2 points to 101.15. Treasury yields rose, with the US two-year note last seen paying 4.306%, up 2.8 basis points, while the yield on the 10-year note was up 2.9 points to 4.658%.

$GCQ6$GLD

Wire22d ago

Update: Amazon Lays Off Employees at Artificial General Intelligence Unit

(Updates with confirmation and additional details from the company.)Amazon.com (AMZN) is eliminating some roles within parts of its artificial general intelligence organization, a company spokesperson confirmed toWednesday in an emailed statement.Affected US employees will receive their pay and benefits for 90 days, outplacement job search support, access to transitional health benefits, and will be eligible for a severance payment, the spokesperson said.Despite the cuts, the company remains committed to investing in artificial intelligence, describing the layoffs as part of the company's efforts to prioritize the initiatives that are believed to have the greatest impact for its customers, according to The Wall Street Journal.The exact number of jobs affected was not provided.Price: $242.85, Change: $-4.70, Percent Change: -1.90%

$AMZN

Wire22d ago

Benchmark Raises Advanced Micro Devices Price Target to $685 From $485, Buy Rating Kept

Advanced Micro Devices (AMD) has an average rating of overweight and mean price target of $545.41, 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: $555.60, Change: $+11.17, Percent Change: +2.05%

$AMD

Commodities22d ago

Centrica Extends Heysham 1, Hartlepool Nuclear Plants to 2030, Adds 6 TWh

Centrica will keep the Heysham 1 and Hartlepool nuclear power stations operating until March 2030, adding about 6 terawatt-hours of generation, the company said Wednesday.Centrica, which owns a 20% stake in both plants, extended their operating lives by another two years from the previous schedule. The stations generate enough electricity to supply over 4 million UK homes annually, the company said.The extensions will contribute about 6 TWh of additional generation for Centrica and strengthen UK energy security with more reliable, low-carbon electricity. The company added that the move requires no material upfront capital investment.Centrica also highlighted its initial agreement with the UK government on a 20-year regulated contract for difference for the Sizewell B nuclear station, which could support operations from 2035 to 2055. The company expects to finalize the contract later this year.The company left its previous guidance unchanged for Heysham 2 and Torness, which remain on track to close in March 2030, as announced in December 2024."These stations provide reliable, low-carbon electricity that supports Britain's energy security, protects skilled jobs and underpins a more resilient economy," said Chris O'Shea, Chief Executive of Centrica.

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Oil & Energy22d ago