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Scotiabank Adjusts Price Target on Welltower to $244 From $232

Welltower (WELL) has an average rating of overweight and mean price target of $244.10, 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: $228.97, Change: $-3.16, Percent Change: -1.36%

$WELL

Wire29d ago

Scotiabank Adjusts Price Target on Ventas to $93 From $88

Ventas (VTR) has an average rating of overweight and mean price target of $97.95, 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: $90.18, Change: $-1.56, Percent Change: -1.70%

$VTR

Wire29d ago

Jefferies Adjusts Price Target on Chevron to $216 From $236

Chevron (CVX) has an average rating of overweight and mean price target of $214.61, 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: $174.61, Change: $+0.55, Percent Change: +0.32%

$CVX

Commodities29d ago

Africa Secures Additional $900 Million for Clean Cooking

Africa has secured an additional $900 million in financial commitments to expand access to clean cooking, bolstering efforts to tackle one of the continent's most persistent energy challenges, the International Energy Agency said on Friday.The new pledges, unveiled by the IEA during a virtual meeting of global leaders and development partners, add to the $2.2 billion mobilized at the inaugural Summit on Clean Cooking in Africa held in Paris in 2024.The latest commitments bring total financing commitments to $3.1 billion, as governments and multilateral institutions seek to accelerate access to clean cooking for about 1 billion Africans who still rely on traditional fuels such as wood and charcoal.The IEA said $740 million of the funds pledged at the 2024 summit have already been deployed across 22 African countries, reflecting faster-than-expected implementation. The agency said it would continue tracking both financial disbursements and progress in household adoption.IEA executive director Fatih Birol said more than one-third of the funds pledged in Paris have already been disbursed in just two years."With an additional $900 million now committed and further announcements expected before the next summit, our focus remains on turning these commitments into lasting improvements for millions of households across Africa," said Birol.The renewed momentum comes as policymakers increasingly frame clean cooking as both an energy security and economic development priority.The US reaffirmed support for expanding access to cleaner fuels in Africa. Secretary of Energy Chris Wright said affordable and reliable propane could significantly improve living standards across developing economies by replacing traditional cooking fuels.The IEA said shipping disruptions through the Strait of Hormuz affected about 30% of globally traded liquefied petroleum gas, the primary cooking fuel used by over 3.4 billion people worldwide.The agency said the new program will help countries improve domestic fuel security while promoting greater international cooperation on supply resilience.

Wire29d ago

Spotify Likely to Report Q2 Results 'Largely In Line' With Guidance, UBS Securities Says

Spotify Technology (SPOT) is expected to report Q2 results "largely in line" with management's guidance, supported by accelerating foreign exchange neutral revenue growth, higher pricing and stable gross margins, UBS Securities said in a note Thursday.The investment firm forecast Q2 revenue of 4.8 billion euros ($5.5 billion), up 15.6% on an FX-neutral basis despite slower net premium subscriber additions.Advertising revenue growth is also expected to improve, gross margins are seen expanding to 33.1%, and operating income is projected at 634 million euros despite higher artificial intelligence, marketing and content spending, according to the note.Analysts said they are "largely maintaining" their 2026 outlook on Spotify, including 19.4 billion euros in revenue, 33.3% gross margins, and 3.4 billion euros in free cash flow, with premium net adds anticipated to strengthen in H2.UBS Securities maintained a buy rating, but lowered the price target to $690 from $735.Price: $483.52, Change: $-2.37, Percent Change: -0.49%

$SPOT

Wire29d ago

Nu Reports Regulatory Approval for Nubank Mexico to Start Operations

Nu (NU) said Friday Nubank Mexico has received authorization from the country's National Banking and Securities Commission to start operations as a multiple bank.Nubank Mexico must begin operating as a bank within the next 30 days, the company said in a regulatory filing.Shares were up over 2% in morning trading.Price: $13.99, Change: $+0.32, Percent Change: +2.30%

$NU

Commodities29d ago

BLM Clears Cadiz to Convert Northern Pipeline for Water Conveyance

Water solutions company Cadiz said that the US Bureau of Land Management had approved a final right-of-way grant, allowing the company to begin converting its 220-mile Northern Pipeline from natural gas transportation to water delivery, in a statement on Friday.The approval authorizes the conversion and operation of the pipeline across federally managed land, the company said.The pipeline is intended to transport water from Cadiz's Mojave Groundwater Bank to communities in California's San Bernardino County, including the High Desert and Inland Empire.The company said the project is expected to provide a low-cost source of new water supplies for the drought-prone Southwest.Cadiz acquired the buried steel pipeline from El Paso Natural Gas in 2020. The line previously operated under a 30-year right-of-way issued under the Mineral Leasing Act, which was renewed in 2020 and partially assigned to Cadiz in 2023.Last year, Fenner Gap Mutual Water Company, a Cadiz affiliate established to manage the Mojave Groundwater Bank, applied for a new right-of-way under the Federal Land Policy and Management Act to convert the pipeline from natural gas to water service and build pump stations and related facilities.The BLM's decision clears a key regulatory hurdle for the pipeline conversion project.

Wire29d ago

Houlihan Lokey Well Positioned for Middle-Market Recovery, BofA Says

Houlihan Lokey (HLI) is well positioned to benefit from a recovery in middle-market mergers and acquisitions activity, while its restructuring business provides earnings resilience, BofA Securities said in a Friday note.The firm said easing macroeconomic headwinds, improving visibility into AI-related disruption risks and broader market participation beyond large-cap stocks should support a recovery in middle-market transactions.BofA also said companies and private equity sponsors may seek to lock in financing costs ahead of potential interest rate volatility.The investment firm said Q1 results are likely to remain under pressure from the Iran conflict and concerns about AI-related disruption, but those risks appear largely reflected in the stock.BofA initiated coverage of the stock with a buy rating and a $164 price target, saying the recent pullback presents an attractive entry point as investors are overlooking the company's market-leading franchise and defensible earnings profile.Price: $133.59, Change: $-2.85, Percent Change: -2.09%

$HLI

Asia Markets29d ago

Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading

Asian equities traded in the US as American depositary receipts were higher on Friday morning, up 0.6% to 2,936.67 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by financial group KB Financial (KB) and cloud services provider Kingsoft Cloud (KC), which jumped 6.7% and 5.6%, respectively.They were followed by tech giant Alibaba (BABA) and e-commerce company JD.com (JD), which climbed 3.3% and 2.6%, respectively.The decliners from North Asia were led by consumer finance platform LexinFintech (LX) and fintech company Qfin (QFIN), which fell 8.5% and 6.1%, respectively.They were followed by semiconductor companies ASE Technology (ASX) and United Microelectronics (UMC), which dropped 3.1% and 3%, respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and computer hardware maker Canaan (CAN), which gained 5.4% and 4.5%, respectively.The decliners from South Asia were led by IT service management company Trident Digital Tech (TDTH), which fell past 10%, followed by pharmaceutical company Dr Reddy's Laboratories (RDY), which shed 5.2%.

$ASX$BABA$CAN$JD$KB$KC$LX$QFIN$RDY$SE$TDTH$UMC

Wire29d ago

Rackspace Technology's Enterprise AI Buildout Could Generate Up to $600 Million in Annual Revenue, RBC Says

Rackspace Technology (RXT) may generate $450 million to $600 million in annual enterprise AI revenue at full deployment by 2028, driven by expanded GPU infrastructure under its partnership with Advanced Micro Devices (AMD), with adjusted earnings before interest, taxes, depreciation and amortization margins topping 50%, RBC Capital Markets said in a Thursday research note.According to the report, Rackspace's planned $250 million at-the-market offering and asset-backed financing are expected to fund its AI expansion, while its lower fiscal 2026 guidance reflects a shift toward higher-margin enterprise AI deployments rather than weaker demand.RBC lowered its 2026 estimates to reflect the updated outlook, the planned exit from certain businesses, and expected contributions from the GPU deployment.The brokerage said Rackspace's expanded partnership with Palantir Technologies (PLTR) enhances its ability to deliver AI infrastructure and managed services to regulated sectors, including healthcare, financial services and energy.RBC maintained its sector perform rating and $4 price target on the stock.Rackspace Technology shares were up 9.7% in Friday trading.Price: $4.76, Change: $+0.39, Percent Change: +8.95%

$AMD$PLTR$RXT

Wire29d ago

PepsiCo Facing 'Building Risk' to Fiscal 2027 EPS, Morgan Stanley Says

PepsiCo (PEP) is facing "building risk" to its fiscal 2027 earnings per share, with the company pointing towards the lower end of its fiscal 2026 EPS guidance, Morgan Stanley said in a Friday note.The company reported fiscal Q2 core earnings of $2.20 per diluted share, up from $2.12 a year earlier, as net revenue increased to $24.18 billion from $22.73 billion. For fiscal 2026, PepsiCo continues to expect core constant-currency EPS to rise 4% to 6%.Morgan Stanley said PepsiCo's implied fiscal Q4 EPS growth outlook of 8% seems "aggressive" given a tougher year-on-year comparison, continued weakness in North America, and potentially higher costs in H2."We worry that PEP will need to reset EPS in 2027," Morgan Stanley analysts said, adding that the company might need to increase investments to drive organic sales growth in North America.Morgan Stanley lowered its fiscal 2026 and 2027 EPS estimates for the PepsiCo by 3% and 6%, respectively, according to the note.Morgan Stanley cut its price target on PepsiCo to $160 from $180, with an equal-weight rating.Price: $137.57, Change: $-0.29, Percent Change: -0.21%

$PEP

Wire29d ago

BofA Securities Adjusts United Therapeutics Price Target to $613 From $620

United Therapeutics (UTHR) has an average rating of overweight and mean price target of $677.33, according to analysts polled by FactSet.Price: $542.20, Change: $-10.28, Percent Change: -1.86%

$UTHR

Wire29d ago

BofA Securities Adjusts Pfizer Price Target to $26 From $27

Pfizer (PFE) has an average rating of hold and mean price target of $28.62, according to analysts polled by FactSet.Price: $24.39, Change: $+0.14, Percent Change: +0.56%

$PFE

Wire29d ago

BofA Securities Adjusts Eli Lilly Price Target to $1,334 From $1,251

Eli Lilly (LLY) has an average rating of overweight and mean price target of $1,283.12, according to analysts polled by FactSet.Price: $1189.74, Change: $-27.22, Percent Change: -2.24%

$LLY

Wire29d ago

BofA Securities Adjusts Johnson & Johnson Price Target to $263 From $254

Johnson & Johnson (JNJ) has an average rating of overweight and mean price target of $262.62, according to analysts polled by FactSet.Price: $258.86, Change: $-0.24, Percent Change: -0.09%

$JNJ

Wire29d ago

BofA Securities Adjusts Bristol-Myers Squibb Price Target to $66 From $67

$BMY

Research29d ago

BofA Downgrades Weyerhaeuser to Neutral From Buy, Price Target is $26

Weyerhaeuser (WY) has an average rating of overweight and mean price target of $31.18, 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: $23.53, Change: $+1.03, Percent Change: +4.58%

$WY

Research29d ago

Raymond James Upgrades Weyerhaeuser to Strong Buy From Outperform, Price Target is $30

$WY

Mining & Metals29d ago

DRI Healthcare Trust Exercises its Put Option on EKTERLY

DRI Healthcare Trust (DHT-UN.TO) exercised its contractual put option related to its royalty participation right in EKTERLY (sebetralstat) for around $178 million, it said Friday.The company expects to receive payment no later than mid-August, subject to the terms of the royalty agreement, said the company.This follows the completion of Chiesi Group's acquisition of KalVista Pharmaceuticals, the company which developed EKTERLY, on June 11, added DRI Healthcare Trust."We are pleased with the outcome of DRI Healthcare's first pre-approval transaction," said CEO Ali Hedayat. "Exercising our put option at this juncture allows us to crystallise an attractive return for our unitholders."The company's shares were last seen down C$0.14 to C$18.06 on the Toronto Stock Exchange.Price: $18.06, Change: $-0.14, Percent Change: -0.77%

$DHT-U.TO$DHT-UN.TO

Commodities29d ago

US Natural Gas Update: Futures Slide as Major LNG Facility Enters Maintenance, Weather Turns Bearish

US natural gas futures declined on Friday amid expectations of a decline in LNG feedgas flows, as a major facility heads into scheduled maintenance.The front-month Henry Hub contract and the continuous contract both fell 3.15% to $2.917 per million British thermal units. Futures were set to end the week down by 9.35%, according to Trading Economics.Futures hit a six-week low after the Freeport LNG facility in Texas said that it would begin "major maintenance turnaround work" starting Friday, according to the Energy Buyer's Guide, which weighed on LNG Feedgas Flow estimates, along with overall natural gas demand.LNG feedgas flows are estimated at 18.30 billion cubic feet for Friday, down significantly from the prior week, and below the 30-day moving average of 18.90 Bcf, according to the Bloomberg LNG Feedgas Model.Besides this, the US Energy Information Administration released the weekly natural gas storage supplement, reporting 61 Bcf in net injection into storage for the week ended July 03. This was slightly above forecasts at 60 Bcf, along with the prior year figures at 53 Bcf and the five-year average for this period at 51 Bcf, according to data compiled by Investing.com.US working gas inventories stood at 2,983 Bcf as of July 03, which was 15 Bcf, or 1% below the year-ago levels, but 185 Bcf, or 7% above the five-year average for this period.Meanwhile, the weather outlook has turned more bearish, with parts of the Northeast now expected to see normal temperatures from July 17 through July 23, following weeks of above-normal heat across much of the country, according to the National Weather Service.

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Commodities29d ago