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CMS Energy Keeps Quarterly Dividend at $0.57 a Share, Payable Sept. 1 to Holders of Record Aug. 7

Crude Climbs as Hormuz, Russia Supply Risks Tighten Markets, EBW Analytics Says

Crude oil prices surged last week as escalating US-Iran tensions disrupted expectations for stable Middle East supply flows, while fresh risks to Russian energy infrastructure and tighter refined-product markets added further support to prices, EBW Analytics said in a note on Monday.EBW Analytics strategists said NYMEX front-month crude futures for August delivery settled at $82.49 per barrel July 17, gaining $11.08 or 15.5%, from the previous week.The analysts said the rally reflected mounting concerns that crude exports via the Strait of Hormuz could remain constrained as geopolitical tensions intensify, with some tanker traffic relying on nighttime movements to avoid disruption risks.Market participants are now watching whether physical cargo flows can normalize. EBW expects the September 2026 crude contract to trade within a $78.50 to $87.50 range over the next seven to 10 days, with a target price of $84.50/bbl, as traders assess the durability of supply disruption.However, beyond the immediate horizon, EBW sees prices easing as markets adjust.The October contract is projected to trade between $64.50 and $79.50 over the next 30 to 45 days, with a target of $73.50, while the November contract is forecast to fall further into a $61.50 to $71.50 range, targeting $69.50, as supply risks potentially fade.Meanwhile, US crude inventories continued to tighten, with Energy Information Administration data showing total storage at 409.7 million barrels for the week ending July 10, a decline of 1.7 million barrels.EBW expects the next EIA report to show another draw of between 1 million and 4 million barrels for the week ending July 17, potentially bringing inventories down to 405.7 million to 408.7 million barrels. The analytics firm said that would place stocks roughly 10.3 million to 13.3 million barrels below year-ago levels.US crude inventories are projected to end July between 400 million and 410 million barrels, reflecting continued market tightening.The oil market has also been supported by disruptions beyond the Middle East. EBW said increased Ukrainian drone attacks on Russian energy infrastructure, combined with Moscow's temporary restrictions on distillate exports, have pushed refinery margins to record levels, tightening global refined-product markets.While crude rallied, US natural gas markets remained under pressure as strong production and elevated inventories outweighed seasonal demand support.The NYMEX front-month August natural gas contract closed at $2.911 per million British thermal units on July 17, down 2.9 cents, or 1%, from the previous week.EBW analysts forecast the August contract to trade between $2.74 and $2.99/MMBtu over the next seven to 10 days, with a target price of $2.84, as traders monitor production trends in the Permian Basin.The September contract is projected to trade within a $2.62 to $2.91/MMBtu range, while November prices are expected to find seasonal support, trading between $3.01 and $3.39/MMBtu with a target of $3.19.Henry Hub spot prices averaged $2.77/MMBtu last week, down 50 cents from the previous week, reflecting weak near-term fundamentals.US natural gas storage increased by 39 billion cubic feet for the week ending July 10. EBW expects the next storage report to show a 9 Bcf withdrawal, leaving inventories above historical levels.

Wire23d ago

Personalis Acquisition Price Warranted by Growth Prospects, Needham Says

Personalis' (PSNL) agreed acquisition price from Tempus AI (TEM) is supported by strong growth in its NeXT Personal platform, Medicare reimbursement wins and a large minimal residual disease market opportunity, Needham said in a Monday note.The brokerage said Tempus agreed to acquire Personalis for $16.25 per share in stock, valuing the company at about $1.5 billion, with Tempus paying about 15.5 times Personalis' estimated 2027 enterprise value-to-sales multiple. Needham said the valuation is well above that of its small- and mid-cap growth peers but is warranted given the company's growth outlook.Needham also said competing bids and antitrust concerns are unlikely, citing reports that multiple bidders pursued Personalis and the companies' limited share of the minimal residual disease market.The transaction is expected to close in late 2026 or early 2027.Needham downgraded Personalis to hold from buy and withdrew its $17 price target.Shares of Personalis were down 14% in Monday trading.Price: $13.24, Change: $-2.15, Percent Change: -13.97%

$PSNL$TEM

Wire23d ago

Southern Keeps Quarterly Dividend at $0.76 a Share, Payable Sept. 8 to Holders of Record Aug. 17

$SO

Sectors23d ago

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks rose late Monday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) and the State Street SPDR S&P Semiconductor ETF (XSD) each adding 0.2%.The Philadelphia Semiconductor Index gained 0.6%.In corporate news, Advanced Micro Devices (AMD) shares climbed 2.3% after the company expanded its partnership with Microsoft (MSFT) spanning AMD GPUs, CPUs, networking, and software on Microsoft Azure. Microsoft shares added 1.8%.Alphabet's (GOOGL) Google is working on a new server chip that will allow it to serve AI models to users more efficiently, The Information reported. The stock rose 1.6%.Meta Platforms' (META) Q2 results are expected to top Wall Street's estimates amid solid advertising trends, while higher memory costs may prompt the company to increase its full-year capital expenditures outlook, BofA Securities said. Meta shares added 0.4%.Nvidia (NVDA) expanded its Nvidia Agent Toolkit to include new Omniverse libraries, enabling AI agents to add physical-world AI capabilities to applications, as well as prepare 3D content for simulation. The stock eased 0.1%.

$AMD$GOOGL$META$MSFT$NVDA

Sectors23d ago

Sector Update: Healthcare Stocks Fall Late Afternoon

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index shedding 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.8%.The iShares Biotechnology ETF (IBB) fell 1.1%.In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 2.2%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 7.3%, and Personalis dropped 14%.Nuvation Bio (NUVB) shares jumped past 8% after it said Monday that follow-up data from a phase 2 trial of safusidenib in people with chemotherapy and radiotherapy-naive grade 2 IDH1-mutant glioma showed "durable" efficacy, with objective response rate of 51.9% and 36-month progression-free survival rate of 79.1%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were shedding 0.9%.

$BMY$LLY$NUVB$PSNL$TEM

Japan23d ago

Update: US Equity Indexes Mixed, Crude Oil Climbs After Iran's Ally Threatens Saudi Energy Supplies From Red Sea Chokepoint

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed as the Nasdaq Composite and the S&P 500 relinquished the bulk of intraday gains, while crude oil prices turned higher amid threats to Saudi Arabian crude oil supplies.The Nasdaq edged up 0.1% to 25,543.1 ahead of Monday's close, giving up most of its intraday gains. The S&P 500 slipped less than 0.1% to 7,451.2 after trading higher earlier in the session. The price-weighted Dow Jones Industrial Average, which is home to old-economy sectors, fell 0.6% to 51,856.5 and traded close to session lows.Consumer staples, utilities, and materials led decliners. Energy, communication services, and technology were the trio of gainers, albeit the latter two peer groups gave up most of the intraday gains.Iran said mediators have been in touch with proposals on how to ease hostilities with the US after nine days of clashes, while tensions remained high after a threat by the Tehran-backed Houthi group against Saudi Arabia, Bloomberg reported. Esmail Baghaei, the Islamic Republic's foreign ministry spokesman, said "ideas from some mediators have been conveyed" to Tehran, without giving further details, according to the news report.Houthis in Yemen said Monday they were imposing a naval blockade on Saudi Arabia, Reuters reported. The full closure of the Bab el-Mandeb strait would reduce global oil supply by 7% as it would leave most of Saudi oil exports unable to leave the region, the news report said. The disruption would add to the reduction in oil flows from the war, which has already cut shipments by 10% of global supply, it added.The front-month US West Texas Intermediate rose 0.6% to $83.01 a barrel, while global benchmark North Sea Brent climbed 1.2% to $89.18 a barrel, after both crude types traded lower earlier in the session.Most US Treasury yields rose, with the 10-year advancing 5.9 basis points to 4.6%. The two-year jumped 5.5 basis points to 4.22%.

Dow JonesNasdaq CompositeS&P 500

Sectors23d ago

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks declined late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, a federal judge in California on Monday granted a motion brought by 12 states for a temporary restraining order that prohibits Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) from consummating their merger. The order remains in effect for 14 days. Paramount shares were down 1.1%, and Warner fell 3.6%.Netflix (NFLX) is returning to the US high-grade bond market for the first time since its debut two years ago, Bloomberg reported. Netflix shares shed 2.1%.Monster Beverage (MNST) shares fell 1.9% in Monday trading after Deutsche Bank downgraded the stock to hold from buy, while lifting its price target to $98 from $94.Procter & Gamble (PG) investors are bracing for the company's fiscal Q4 organic sales to fall short of Wall Street expectations, given uncertainty as to whether shipment growth in the quarter will mirror strong US consumption, UBS said in a note. Procter & Gamble shares were down 0.9%.

$MNST$NFLX$PG$PSKY$WBD

US Markets23d ago

Tempus AI to Buy Cancer Test Maker Personalis; Needham Says Deal Premium Well Above Peers

Tempus AI (TEM) agreed to acquire cancer test maker Personalis (PSNL) in a $1.5 billion deal that Needham said offers a premium well above the comparable group.Tempus AI will acquire all outstanding shares of Personalis it doesn't already own, for $16.25 per share, offering a floating exchange ratio capped at 0.3356 Tempus shares, the companies said Monday.The $16.25-per-share consideration represents a 6% premium to Friday's closing price and a 28% premium to the 30-day average price, according to the companies. Tempus AI retains the option to pay up to 50% of the consideration in cash.The proposed acquisition values Personalis at a forward enterprise value-to-sales multiple of 15.5, which is well above the median for its small- and mid-cap growth peers, Needham said in a note Monday."We believe the premium is warranted given the strong test volume growth seen in NeXT Personal, multiple Medicare reimbursement wins (breast, lung cancer, and immunotherapy monitoring), and large addressable minimal residual disease market," Needham analysts said.About 2.1 million people are expected to be diagnosed with cancer in the US this year, reinforcing the need for long-term monitoring, the companies said. Personalis' NeXT personal cancer test uses minimal residual disease, or MRD, technology.The acquisition expands Tempus' capabilities in MRD, supporting patients from diagnosis to monitoring, according to the statement."Through our existing collaboration with Personalis, we have already demonstrated the strength of combining highly sensitive MRD technology with our commercial infrastructure," Tempus AI Chief Executive Eric Lefkofsky said. "With clinical adoption and reimbursement momentum building, we are collectively well positioned to capture this opportunity, which makes this acquisition particularly exciting."The transaction is expected to close late in 2026 or early 2027, subject to Personalis shareholder approval and regulatory clearance."We think competing bids and potential antitrust issues are unlikely," according to the Needham note. "As a result, we are downgrading (Personalis) shares to hold from buy."Tempus AI shares fell 6.5% in Monday afternoon trading, while Personalis slumped 13%."We are confident Tempus' offer provides the most value to our shareholders and the fastest path to bringing Personalis' industry-leading tests to patients suffering from cancer," Personalis CEO Chris Hall said.Last year, Tempus AI acquired genetic testing company Ambry Genetics, precision research platform Deep 6 AI and digital pathology developer Paige.Price: $48.97, Change: $-3.50, Percent Change: -6.67%

$TEM

Sectors23d ago

Sector Update: Energy

Energy stocks rose late Monday afternoon with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index gained 0.4%, and the Dow Jones US Utilities Index shed 0.6%.West Texas Intermediate crude oil rose 1.4% to $83.64 a barrel, and global benchmark Brent added 1.5% to $89.43 a barrel. Henry Hub natural gas futures fell 1.9% to $2.86 per 1 million BTU.In corporate news, Fervo Energy (FRVO) shares jumped 4.4% after Jefferies upgraded the stock to buy from hold and cut its price target to $34 from $41.

$FRVO

Commodities23d ago

Air Canada, Airbus Commit $10 Million to Scale Canadian SAF Industry

Air Canada and Airbus will invest up to CA$13.7 million ($10 million) to help build Canada's sustainable aviation fuel industry and cut corporate travel emissions, Airbus said Monday.The companies plan to create a jointly funded Sustainability Co-Investment Platform to support commercial-scale SAF production in Canada, with the investment designed to accelerate the country's aviation decarbonization efforts.Air Canada and Airbus will use the platform to advance a jointly selected Canadian SAF project toward a final investment decision while continuing to work with governments on policies that encourage large-scale domestic fuel production, they said.The partners will continue advocating with the Canadian Sustainable Aviation Fuel Coalition for federal and provincial measures that improve renewable fuel availability, strengthen price competitiveness and keep air travel affordable, they said.The initiative also expands Air Canada's Leave Less Travel Program, giving corporate customers a way to stimulate Canadian SAF demand by purchasing verified environmental attributes, Airbus said.Airbus has signed a five-year agreement under the program and will buy SAF environmental attributes linked to more than 60,000 liters of fuel in its initial allocation.Air Canada will measure greenhouse gas emissions from Airbus employees' business travel and retire the corresponding verified SAF environmental attributes, helping lower the trips' life-cycle emissions.The company said SAF complements Air Canada's fleet renewal program, which includes the Airbus A321XLR and the Canadian-built Airbus A220.Air Canada and Airbus also backed the aviation industry's goal of reaching net-zero carbon emissions by 2050, a target set by the International Air Transport Association, the Air Transport Action Group and the International Civil Aviation Organization, the company said.Airbus and ICF also released a study showing Canada could become a major aviation biofuels producer by expanding its domestic SAF industry, the companies said.The study found that meeting 40% of Canada's aviation fuel demand with domestic sustainable aviation fuel by 2040 could add CA$32 billion to gross domestic product and create about 140,000 jobs, the company added."Through this joint initiative with Airbus, we are taking meaningful steps toward supporting domestic SAF production," said Valerie Durand, Vice President, Airport Affairs, Corporate Real Estate and Sustainability at Air Canada."The country has a vast feedstock potential. When combined with a supportive policy framework, it can contribute to the sector's decarbonization ambitions and create significant economic growth and job creation," said Julie Kitcher, Airbus Chief Sustainability Officer and Communications.SAF uses renewable feedstocks instead of fossil sources to produce aviation fuel with lower life-cycle emissions while remaining chemically similar to conventional jet fuel, the companies said.

Wire23d ago

Lionheart, Keo Sign Letter of Intent for Business Combination

Lionheart (CUB), a blank check firm, has struck a non-binding letter of intent with Keo Capital for the business combination with its unit, KEO Energy, according to a news release Monday.The merger would result in a Nasdaq listing of KEO Energy, which has an indicative pre-money enterprise value of $400 million, the statement said. They plan to finalize an agreement by Aug. 17.KEO Energy's principal asset is an indirect stake in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela, it said.Price: $10.83, Change: $+0.02, Percent Change: +0.19%

$CUB

Sectors23d ago

Sector Update: Financial

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In corporate news, Truist Financial (TFC) shares fell 3.2% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.

$TFC

Wire23d ago

Clean Energy Fuels Shares Fall After Downgrade From UBS

Clean Energy Fuels (CLNE) shares were down more than 7% in Monday trading after UBS downgraded the company's stock to neutral from buy with a price target of $2.75.Trading volume stood at about 1.7 million shares compared with a daily average of nearly 1.5 million.Price: $2.20, Change: $-0.18, Percent Change: -7.56%

$CLNE

Sectors23d ago

Sector Update: Healthcare

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index shedding 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.8%.The iShares Biotechnology ETF (IBB) fell 1.1%.In corporate news, Nuvation Bio (NUVB) shares jumped past 8% after it said Monday that follow-up data from a phase 2 trial of safusidenib in people with chemotherapy and radiotherapy-naive grade 2 IDH1-mutant glioma showed "durable" efficacy, with objective response rate of 51.9% and 36-month progression-free survival rate of 79.1%.

$NUVB

Treasury23d ago

US Treasury Closing Levels

3:00 Monday vs 3:00 Friday2yr 99-26+ vs 99-29; 4.215% vs 4.170%5yr 99-02 vs 99-11; 4.330% vs 4.270%10yr 98-15 vs 99-06; 5.122% vs 5.064%30yr 99-07 vs 99-00; 5.118% vs 5.063%2/10 38.088 bps vs 36.898 bps5/30 78.575 bps vs 79.147 bps

Sectors23d ago

Sector Update: Tech

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 1.3%.In corporate news, Advanced Micro Devices (AMD) shares gained 3.7% after the company said it expanded its partnership with Microsoft (MSFT) spanning AMD GPUs, CPUs, networking and software on Microsoft Azure. Microsoft shares added 1.7%.

$AMD$MSFT

Wire23d ago

Fervo Energy Shares Rise After Jefferies Upgrade

Fervo Energy (FRVO) shares rose 4% in Monday trading after Jefferies upgraded the stock to buy from hold, and adjusted the price target to $34 from $41.Trading volume stood at over 1.4 million shares compared with a daily average of nearly 4.2 million.Price: $25.66, Change: $+1.01, Percent Change: +4.10%

$FRVO

Sectors23d ago

Sector Update: Consumer

$PSKY$WBD

Sectors23d ago

Update: WTI Oil Rises as Iran and the US Continue Fighting

(Updates prices in the second paragraph.)West Texas Intermediate (WTI) crude oil closed higher Monday, with continuing fighting between Iran and the United States offsetting reports that talks between the two countries may resume.WTI crude oil for August delivery closed up $0.74, or 0.9%, to settle at $83.23 per barrel, while September Brent crude was last seen up $1.08, or 1.2%, to $89.18.The rise comes despite early reports that Iran remains open to a negotiated settlement to the war launched by the US and Israel on Feb. 28, The Guardian reported. Iranian officials said mediators continue to exchange messages aimed at ending the conflict, while US Secretary of State Marco Rubio said he is open to fresh talks.Fighting continued over the weekend, with Iran striking ships transiting the Strait of Hormuz and its Persian Gulf neighbors and the US attacking targets in Iran. The conflict has left ships trapped inside the Persian Gulf, disrupting traffic through the Strait of Hormuz, the key chokepoint for exports from Persian Gulf producers that supplied about one-fifth of global oil demand before the war.Shipping through the Strait has almost stalled amid the fighting, with hormuzstraitmonitor.com reporting just four ships have moved through the waterway over the past day, leaving 490 ships that included 175 tanker trapped and waiting for a peace deal that is likely to favor Iran."Little has changed from the underlying fundamentals prevailing earlier in the conflict. Iran's leaders fear a disadvantageous peace more than a disadvantageous war, risking a prolonged conflict even at greater long-term economic cost. A more constructive-leaning take on the recent fighting is that this represents a last-ditch US attempt to find a geopolitical hook to avoid a strategic defeat, before accepting a reopened Strait under some Iranian influence," wrote Erik Meyersson, Chief Emerging Markets Strategist at SEB Research.

$CLQ6$LCOU6$USO

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Oil & Energy23d ago