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Market Chatter: EU Plans Review of Airline Ownership Rules Amid EasyJet Bids

The EU is preparing to revisit airline ownership rules to tighten limits on foreign control of carriers, Reuters reported Wednesday, citing an EU official.The move may complicate US bids for easyJet, which is the target of competing takeover offers from New York-based Apollo Global Management (APO) and Minneapolis-based Castlelake, the report said.The review, expected in the autumn, would clarify what corporate structures are permitted around control and ownership, while Apollo, Castlelake and easyJet haven't discussed deal details with EU regulators, the report said.The EU 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.)Price: $118.97, Change: $+0.57, Percent Change: +0.48%

$APO

Sectors3d ago

Sector Update: Financial

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding about 0.5%.The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.4%.Bitcoin (BTC-USD) was declining 1.2% to $65,726, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.657%.In corporate news, Morgan Stanley (MS) is working on a collateralized fund obligation for Copenhagen Infrastructure Partners in a transaction worth around $1 billion, Bloomberg reported. Morgan Stanley shares rose 0.8%.

$MS

Wire3d ago

Market Chatter: Morgan Stanley's Wealth Unit Secures Over $70 Billion in Q2 Following SpaceX Listing

Morgan Stanley's (MS) wealth management unit has gained more than $70 billion in net new assets during Q2, largely fueled by the initial public offering of SpaceX (SPCX), Bloomberg reported Wednesday, citing sources familiar with the matter.Managing the gains from the SpaceX offering is projected to produce over $100 million in recurring annual revenue for the investment bank, according to the report.Morgan Stanley and SpaceX did not immediately respond to' requests for comment.(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.)Price: $218.43, Change: $+2.03, Percent Change: +0.94%

$MS$SPCX

Wire3d ago

General Motors Faces Improving 2027 View on Pickup Pricing, SUV Capacity Gains, UBS Says

General Motors (GM) is expected to see improved results in 2027, supported by stronger pricing and mix from next-generation full-size pickups, higher output on full-size SUVs following the shift of Escalade production to Orion, and continued warranty improvements, UBS said in a note emailed Wednesday.The gains are expected to be partially offset by commodity costs and the non-repeat of IEPPA recovery benefits, the firm said.UBS sees digital services opportunity as a more material contributor beyond 2027, according to the note.UBS said it estimates Q3 earnings before interest and taxes at about $4.4 billion with volumes marginally higher sequentially.UBS adjusted its 2026 and 2027 EPS estimates to $13.90 and $15.67, respectively, from $13.34 and $15.72, reflecting an increased buyback assumption on strong expected free cash flow, while its 2027 EBIT forecast was trimmed modestly.UBS maintained its buy rating on GM stock with a $102 price target.Price: $81.75, Change: $+2.23, Percent Change: +2.80%

$GM

Sectors3d ago

Sector Update: Healthcare

Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.The iShares Biotechnology ETF (IBB) fell 0.9%.In corporate news, Arrowhead Pharmaceuticals (ARWR) shares jumped past 21% after the company said its phase 3 clinical studies of plozasiran to treat hypertriglyceridemia met the primary endpoint of triglyceride reduction compared with placebo.

$ARWR

Sectors3d ago

Sector Update: Consumer

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.9%.In corporate news, Paramount Skydance (PSKY) won conditional approval from the European Commission for its acquisition of Warner Bros. Discovery (WBD), the regulator said in a statement. Paramount shares rose 2.5%, and Warner was slightly higher.

$PSKY$WBD

Sectors3d ago

Sector Update: Tech

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) 0.1% lower and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.6%.The Philadelphia Semiconductor index climbed up 1%.In corporate news, Super Micro Computer (SMCI) shares surged 20% after the firm said it expects fiscal Q4 GAAP and non-GAAP gross margins to be 15% to 17%, significantly above its 8.2% to 8.4% forecast, due to a favorable customer and product mix.

$SMCI

Wire3d ago

Arrowhead Pharmaceuticals Shares Rise After Phase 3 Trials of Plozasiran Meets Primary, Secondary Endpoints

Arrowhead Pharmaceuticals (ARWR) shares rose 22.1% on Wednesday after the company said its phase 3 clinical studies of plozasiran to treat hypertriglyceridemia met the primary endpoint of triglyceride reduction compared with placebo.Studies also met all secondary endpoints, including a statistically significant reduction in the rate of acute pancreatitis compared with placebo, according to a statement.The 25 mg dosage administered subcutaneously once every three months led to median triglyceride reductions of 79% and 81%, respectively, at month 12, the company said.The drug candidate demonstrated a favorable safety and tolerability profile, with treatment emergent adverse events consistent with its established safety profile, the company said.The company will utilize phase 3 trial data to apply for marketing authorization for sHTG in multiple global geographies, beginning with a planned supplemental new drug application with the US FDA before 2026-end, according to the company.Price: $90.87, Change: $+16.35, Percent Change: +21.94%

$ARWR

Wire3d ago

Microsoft's Azure to Sustain Strong Growth, Truist Says

Microsoft's (MSFT) Azure is likely to sustain strong long-term growth, while artificial intelligence revenue gradually rises with the increasing adoption of Copilot, Truist Securities said in a note Wednesday.The brokerage said it expects a solid Q4 and accompanying outlook and added that broader industry dynamics will continue to result in a sustained supply-demand imbalance, and thus, it expects "Azure growth remaining at a consistently strong level for the foreseeable future.""A variety of factors could turn the tide on negative investor sentiment on high capex dynamics at least in the case of Microsoft," Truist said.Truist maintained a buy rating with a $575 price target.Price: $388.65, Change: $-9.10, Percent Change: -2.29%

$MSFT

Treasury3d ago

US Treasury Closing Levels

3:00 Wednesday vs 3:00 Tuesday2yr 99-21+ vs 99-23; 4.300% vs 4.259%5yr 98-11 vs 98-29+; 4.405% vs 4.368%10yr 97-29+ vs 98-07; 5.167% vs 5.141%30yr 97-24+ vs 98-00+; 5.146% vs 5.129%2/10 35.246 bps vs 36.458 bps5/30 73.872 bps vs 75.966 bps

Sectors3d ago

Update: Oil Climbs to Six-Week High as US-Iran Conflict, Red Sea Threats Elevate Supply Fears

(Updates prices in the second paragraph and adds EIA data in the final parpagraph.)West Texas Intermediate (WTI) crude oil closed at a six-week high Wednesday as the US continued attacks on Iran, keeping the Strait of Hormuz closed, while Yemen's Houthi militants threatened to block Saudi oil exports in the Red Sea.WTI crude for September delivery closed up $2.49, or 3%, to settle at $86.83 per barrel, the highest level since June 11, while September Brent crude was last seen up $3.22, or 3.5%, to $94.23.The gains came as the escalating conflict between the US and Iran kept the Strait of Hormuz closed. The Guardian reported that US forces launched strikes on Iran for an 11th consecutive night, targeting aircraft hangars and drone storage facilities.The conflict has blocked the Strait of Hormuz, the chokepoint for about 20% of global oil consumption supplied by Persian Gulf nations before the war began on Feb. 28. Just 14 ships transited the waterway over the past day, according to hormuzstraitmonitor.com, leaving about 400 vessels, including 120 tankers, stranded in the Gulf.Yemen's Houthi militants added to the supply worries with a threat to block the Bab el-Mandeb Strait, the southern end to the Red Sea, to restrict Saudi exports through the sea.Oil's "move reflects the ongoing US-Iran conflict, now in its 11th day, a Houthi threat to Red Sea shipping, and production shut-ins as Tropical Storm Bertha moves through the Gulf of Mexico, which pushed the Mars crude premium to around $2 a barrel over WTI, its strongest since early June", Saxo Bank noted.In its weekly survey, the Energy Information Administration said US commercial oil inventories rose by 2.0-million barrels last week, while analysts polled by Reuters expected a 1.1-million barrel drop.

$CLU6$LCOU6$USO

Research3d ago

Craig Hallum Downgrades BioLife Solutions to Hold From Buy

$BLFS

Wire3d ago

Market Chatter: SpaceXAI Explores Texas Data Center Expansion

SpaceX's (SPCX) unit, SpaceXAI, is exploring several potential sites in Texas for at least one new large-scale data center, The Information reported Wednesday, citing three people with knowledge of the effort.The company's goal is an expansion in Texas on a scale similar to or greater than its existing facilities in the Memphis area, the report said.SpaceXAI has already sent some data center staff to Texas in preparation for the expansion and last month was hiring a data center development lead in Austin and Bastrop to oversee data center installations, according to the report.SpaceX did not immediately respond to' request for comment.(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.)Price: $117.63, Change: $-5.91, Percent Change: -4.78%

$SPCX

US Markets3d ago

AMD to Invest Up to $5 Billion in Claude Maker Anthropic; Companies Sign Chip Partnership

Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips.AMD will make the investment in the Amazon.com-backed (AMZN) artificial intelligence firm "in the future," the companies said Wednesday.The strategic partnership covers the deployment of up to 2 gigawatts of AMD Instinct MI450 series graphics processor units in AMD Helios rack-scale solutions, with initial deployment starting in the first half of next year. Anthropic is already using AMD Instinct MI355X GPUs, according to a joint statement."We are thrilled to deepen our partnership with Anthropic and deploy AMD Helios at gigawatt scale," AMD Chief Executive Lisa Su said. "This collaboration brings together Anthropic's leadership in frontier AI with the full strength of AMD high-performance computing."AMD shares were up 1.8% in Wednesday late-afternoon trade, bringing its year-to-date gains to about 159%."By partnering with AMD across the stack, we are securing the capacity we need and optimizing it for training and serving Claude," Anthropic Chief Compute Officer Tom Brown said.The companies are also launching a multiyear engineering collaboration under which teams will use Claude to optimize workloads for AMD Instinct GPUs and accelerate ROCm software development. ROCm is an open-source software stack designed for GPU computation.AMD will "broadly adopt" Claude across its engineering and product development teams, the companies said.Earlier this year, Anthropic expanded its partnership with existing backer Amazon, which said at the time it was investing another $5 billion in the Claude maker, with up to an additional $20 billion in the future. The AI company confidentially filed for an initial public offering in the US earlier in 2026.The Anthropic collaboration marks the latest deal for AMD, which earlier this week announced an expanded strategic partnership spanning its GPUs, central processing units, networking and software on Microsoft's (MSFT) Azure cloud-computing platform.AMD is scheduled to report its fiscal second-quarter results Aug. 4.Price: $554.43, Change: $+10.00, Percent Change: +1.84%

$AMD$AMZN$MSFT

Commodities3d ago

Ukraine Drone Strikes Raise Risk to Black Sea Crude Flows, CPC Exports, Kpler Says

Ukraine's expanding drone campaign against Russian maritime assets is raising fresh concerns over Black Sea crude exports, with potential disruptions to the Caspian Pipeline Consortium route threatening a key source of global seaborne supply, Kpler analyst Naveen Das said in a Wednesday note.The Black Sea risk premium has undergone a sharp reassessment following a broader Ukrainian naval drone offensive that targeted 12 vessels over the weekend.The most significant incident for oil markets was the strike on a Suezmax tanker, which was hit twice while anchored near the CPC terminal outside Novorossiysk. The vessel was scheduled to load CPC Kazakhstan crude on July 17.Kpler said the attack marks an escalation in Ukraine's campaign against Russia's maritime oil infrastructure and shadow fleet, with risks now extending to non-sanctioned vessels involved in CPC trade.While major shipowners are expected to continue servicing the CPC terminal, Kpler warned that freight costs are likely to rise as operators demand higher premiums for Black Sea exposure.A sustained campaign against commercial vessels could prompt owners to withdraw from the route, potentially stranding millions of barrels of Kazakh and Russian crude.Novorossiysk exports average around 2.5 million barrels per day, including roughly 1.7 million b/d of CPC Kazakhstan crude.Kazakhstan's July production is forecast near 2.2 million b/d, and needs uninterrupted Black Sea access to avoid forced production cuts.Russian forces have responded with strikes on Ukrainian Black Sea fuel oil and lubricant storage facilities, adding further pressure to regional energy infrastructure.The escalation comes alongside growing US efforts to tighten sanctions on Russia's energy sector. Proposed legislation backed by more than 60 US senators would expand primary and secondary sanctions targeting Russian oil and gas revenues, including tariffs of up to 100% on imports from countries purchasing significant volumes of Russian energy.Kpler said additional sanctions could shrink the market for Urals crude, pushing the grade toward deeper discounts while supporting higher premiums for alternative sour crude supplies from the Atlantic Basin and Middle East into Asian markets.

Wire3d ago

Air Products and Chemicals Keeps Quarterly Dividend at $1.81 a Share, Payable Nov. 9 to Holders of Record Oct. 1

$APD

Wire3d ago

Everforth Shares Rise After Truist Upgrade

Everforth (EFOR) shares were up over 10% in Wednesday trading after Truist upgraded the stock to buy from hold and raised its price target to $36 from $33.Trading volume stood at more than 664,000 shares, compared with a daily average of about 1.4 million.Price: $20.25, Change: $+1.94, Percent Change: +10.60%

$EFOR

Research3d ago

Maxim Downgrades BioLife Solutions to Hold From Buy

$BLFS

Wire3d ago

Argus Lifts Travelers Price Target to $400 From $330

Travelers (TRV) has an average rating of hold and mean price target of $360.46, 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: $372.14, Change: $+2.51, Percent Change: +0.68%

$TRV

Wire3d ago

Eaton Keeps Quarterly Dividend at $1.10 per Share, Payable Aug. 28 to Holders of Record Aug. 7

$ETN

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Commodities3d ago