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European Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 0.69% to 1,924.81 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which climbed 6.8% and 4.9%, respectively. They were followed by semiconductor company Sequans Communications (SQNS) and brewing company Anheuser-Busch InBev (BUD), which advanced 4% and 2.8%, respectively.The decliners from continental Europe were led by internet browser company Opera (OPRA) and biopharmaceutical company DBV Technologies (DBVT), which dropped 3.3% and 2.9%, respectively. They were followed by telecommunications company Nokia (NOK) and software firm SAP (SAP), which lost 2.6% and 2%, respectively.The gainers from the UK were led by biopharmaceutical firm Akari Therapeutics (AKTX) and insurance firm Prudential (PUK), which rose 6.6% and 3.4%, respectively. They were followed by lender HSBC (HSBC) and telecommunications company operator Vodafone Group (VOD), which were up 2.2% each.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which shed 21% and 2.8% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and educational publisher Pearson (PSO), which fell 1.2% and 0.8% respectively.

$AKTX$BDRX$BUD$CLLS$DBVT$EQNR$HSBC$NOK$OPRA$PSO$PUK$SAP$SLN$SQNS$TRIB$VOD

Commodities3d ago

Correction: US Weekly Ethanol Production Rose, EIA Says

(Corrects headline and 1st paragraph to show production rose. Updates to include additional details.)US weekly ethanol production rose, according to the US Energy Information Administration report on Wednesday.For the week ending July 17, US ethanol production averaged 1.09 million barrels per day, up from last week's 1.04 million b/d and above last year's 1.08 million b/d.The four-week average output at 1.09 million b/d was below 1.08 million b/d a year ago.Midwest ethanol production averaged 1.04 million b/d, up from 976,000 b/d the previous week. Four-week average output was 1.02 million b/d, compared with 1.03 million bpd a year ago.Domestic ethanol inventories ended the week at 24.5 mmbbls, up from 24.4 mmbbls a week ago and from 24.4 mmbbls a year ago.

US Markets3d ago

Brent Briefly Tops $95 as US-Iran Tensions Remain High

Brent crude futures briefly crossed $95 a barrel on Wednesday amid escalating tensions between the US and Iran.Brent rose 3.5% to $94.18 in Wednesday trade, having hit $95.47 earlier in the day. West Texas Intermediate crude was up 3% at $86.85 a barrel.The US will destroy an Iranian bridge or power plant, including those in and around Tehran, every time it attacks ships in the Strait of Hormuz, President Donald Trump said in a social media post on Wednesday.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to target US military equipment in response to recent American strikes, CNN reported. The US Central Command said Tuesday it struck Iran for the 11th consecutive evening.Four more tankers changed course in the Red Sea Wednesday following threats by Yemen's Iran-aligned Houthis to attack vessels using Saudi Arabian ports, Reuters reported.The Houthis have completed preparations to target vessels near the Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden and Arabian Sea, according to a Joint Maritime Information Center advisory. The Bab el-Mandeb Strait is an alternative route to the Strait of Hormuz, which remains effectively closed due to tensions between the US and Iran."This is causing more worries about a global growth slowdown than worries about a renewal of inflation and inflation expectations," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said.Crude prices plunged in May and June, but have rallied this month as tensions between the US and Iran intensified.

Wire3d ago

Meta Platforms Set to Report Strong Q2 Amid Solid Ad Market, Wedbush Says

Meta Platforms (META) is expected to deliver strong Q2 results, driven by product improvements and a solid ad market, while artificial intelligence and capital expenditure remain key concerns, Wedbush Securities said in a note Wednesday.The tech giant is scheduled to report its Q2 results on July 29.The analysts said management reported growing user engagement with Meta AI and early positive signs for Business AI. However, beyond its advertising business, initiatives such as Meta AI/Muse Spark, Business AI, subscription tiers, a potential cloud offering, and custom AI chips are still in the early stages of development, they said.The key debate for investors remains whether Meta's significant AI and capex spending will translate into diversified sources of monetization beyond its core advertising business, "and the reason we remain on the sidelines despite Meta's valuation discount to peers," the analysts added.The analysts said they forecast revenue of $253 billion in 2026 and $301 billion in 2027. Earnings before interest, taxes, depreciation, and amortization are expected to be $146 billion in 2026 and $177 billion in 2027, while GAAP diluted earnings per share are projected at $33.02 and $34.09, respectively, they said.Wedbush has a neutral rating and a $671 price target on Meta.Price: $629.47, Change: $-14.34, Percent Change: -2.23%

$META

Wire3d ago

Ensign Group Remains Attractive on Strong Skilled-Nursing Trends, Oppenheimer Says

Ensign Group (ENSG) remains an attractive long-term investment as strong skilled-nursing occupancy, a favorable reimbursement and regulatory backdrop, and an active acquisition pipeline outweigh concerns about managed-care volumes, Oppenheimer said Wednesday in a report.The stock trades at about 11 times estimated 2027 earnings before interest, taxes, depreciation, amortization and rent, below its five-year average of 14 times and 10-year average of 12 times, Oppenheimer said. The discount offers a buying opportunity because operating trends remain solid despite recent market "noise," the report said.Same-store occupancy rose 190 basis points to a record 84.3% in Q1, while Ensign's 71 locations added since early 2025 and robust acquisition outlook provide further room for growth, the report said.Ensign's strong cash flow and balance sheet should also help it continue acquisitions and withstand economic uncertainty, the report said.Oppenheimer maintained its outperform rating on Ensign stock with a $210 price target.Price: $169.21, Change: $-1.66, Percent Change: -0.97%

$ENSG

Wire3d ago

Nike to End Online Distribution Deals in China, Bloomberg Reports

$NKE

Wire3d ago

Boeing, Lufthansa Technik Sign Agreement to Support Germany's CH-47F Chinook Helicopter Fleet

Boeing (BA) and Lufthansa Technik Defense signed an agreement outlining their roles in sustaining Germany's new CH-47F Block II Chinook heavy-lift helicopters through a network of parts warehouses to support the helicopters' operating bases, according to a Wednesday statement.No financial details were disclosed.The agreement sets the framework for the project's main contract, under which Boeing will provide its platform knowledge in delivering tailored parts provisioning, transport and warehousing for the German Armed Forces, Lufthansa Technik said.Meanwhile, Lufthansa Technik will provide its logistics expertise and manage the supply of consumables and expendables for the German Chinooks, the company added.Price: $204.96, Change: $+0.16, Percent Change: +0.08%

$BA

Wire3d ago

Logitech Seen Posting 'Decent' Fiscal Q1 Results Despite PC Headwinds, Wedbush Says

Logitech International (LOGI) is expected to post "decent" fiscal Q1 results as new products, stronger sales in China, margin expansion and growth across key categories help offset weak PC demand, Wedbush Securities said Wednesday.Wedbush expects revenue to rise 5% from a year earlier to $1.21 billion, slightly above the $1.20 billion consensus estimate and near the top of Logitech's guidance range. Gaming revenue is expected to grow 10% due to the G Pro X2 Superstrike mouse and Logitech's China-for-China initiative.The firm expects 3% growth in personal workspace products and 5% growth in video collaboration. Webcam and tablet accessory sales are expected to remain nearly unchanged. It expects adjusted earnings of $1.39 per share, compared with the $1.32 estimate. Gross margin is expected to improve to 43.7%.Wedbush kept its outperform rating and $135 price target, saying Logitech's cash position and lack of debt could support small acquisitions, stock buybacks and a larger dividend.Shares of Logitech were up more than 2% in Wednesday trading.Price: $105.23, Change: $+2.32, Percent Change: +2.25%

$LOGI

Mining & Metals3d ago

Perseverance Metals Begins Summer 2026 Drill Program at the Lac Gayot Project in Quebec

Perseverance Metals (PMI.V) has started the summer 2026 drill program at the Lac Gayot project in the James Bay region of Quebec, it said Wednesday.The project's Venus East Trend will be the primary focus area of this year's program, said the company.The 2026 program will include, among others, additional drilling of new surface mineralized zones identified through prospecting, added Perseverance Metals.The company also provided an update on the Voyageur Drill Program, Michigan, and said while the start of drilling has been temporarily delayed, it has now mobilized the rig to site and the testing of its "first, top-priority target" is slated to start this week.The company's shares last traded July 21, closing at C$0.445 on the TSX Venture Exchange.

$PMI.V

Wire3d ago

General Motors Delivers 'Clean' Q2 Beat, Morgan Stanley Says

General Motors (GM) delivered a "clean" Q2 beat and raised its 2026 EBIT guidance, while offering positive commentary on 2027 outlook, Morgan Stanley said in a note Wednesday.The report pointed to stronger pricing and cost management for the beat, and added that the higher EBIT guidance was driven by better pricing and improved warranty costs.The note also said the first high level outlook for 2027 indicates growth in revenue, EBIT, and free cash flow due among others to improving EV profitability, and digital revenue.However, the positive factors may be partially offset by the impact of higher commodity and computer memory costs as well as incremental tariff headwinds, it said.Still, the report said its software and services business has the potential to drive a "significant" re-rating in the shares.Morgan Stanley raised its price target to $101 from $100 while keeping its overweight rating on GM.Price: $82.61, Change: $+3.09, Percent Change: +3.89%

$GM

Wire3d ago

Red Cat Terminates Chief Revenue Officer

Red Cat (RCAT) said in a regulatory filing Wednesday that the board has terminated Chief Revenue Officer Geoffrey Hitchcock, effective July 23.Hitchcock was terminated for "cause" and as such was not entitled to severance benefits or acceleration of vesting of equity awards except for salary and benefits earned, the company said in the filing.Hitchcock has filed a civil complaint against the company, alleging retaliatory termination in violation of New York and Oregon law and breach of contract, while seeking compensatory damages, the company said.Red Cat said the claims are "without merit" and will defend itself vigorously, according to the filing.Price: $8.51, Change: $-0.08, Percent Change: -0.99%

$RCAT

Wire3d ago

Update: RPM International Shares Rise After Fiscal Q4 Adjusted Earnings, Revenue Beat Estimates

(Updates with stock move in the headline and first paragraph, increase to share buyback plan, fiscal 2027 sales outlook, and investor day date.)RPM International (RPM) shares were up 4.8% in Wednesday morning trading after its fiscal Q4 adjusted earnings and revenue rose year on year and beat analysts' estimates, and the company's board approved an increase to its share buyback plan.The company reported fiscal Q4 adjusted earnings Wednesday of $1.89 per diluted share, up from $1.72 a year earlier. Analysts surveyed by FactSet expected $1.83. Revenue for the fiscal quarter ended May 31 was $2.23 billion, up from $2.08 billion a year earlier. Analysts expected $2.18 billion.The company said its board approved a $700 million increase to its share repurchase program, in addition to the $114.8 million available under the previously authorized amount.RPM International also said that its guidance for fiscal 2027 is for sales to rise 3% to 7% compared to previous-year results.The company said its investor day will be on Nov. 9 to update its strategic priorities and outline its operating improvement plan.Price: $106.64, Change: $+5.11, Percent Change: +5.03%

$RPM

Equities3d ago

TotalEnergies Reinstates Fuel Price Cap in France Amid Renewed Middle East Conflict

TotalEnergies (TTE.PA, TTE.L) said Wednesday it is reinstating the price cap policy on gasoline and diesel that had been in effect until June.In response to the renewed conflict in the Middle East and rising prices for petroleum products, gasoline prices will be capped at 1.99 euros per liter and diesel at 2.25 euros per liter across all the energy group's service stations in mainland France.

$TTE.L$TTE.PA

Wire3d ago

Unity Software's Q2 Results Likely In Line With Expectations, Wedbush Securities Says

Unity Software's (U) Q2 financial results are expected to be largely in line with estimates, Wedbush Securities said in a note Wednesday.The company is scheduled to release its Q2 results on Aug. 6.On Unity's Q2 earnings call, analysts said they will be focused on management's commentary on the growth of the Vector platform, which has been framed as a compounding, back-half-weighted, runtime-data-driven opportunity.Wedbush said the continued growth of the Vector platform, the shutdown of ironSource Ad Network, and plans to divest Supersonic mean the business mix is "cleaner" and highly concentrated on Vector and the core engine.Analysts said about 60% of ironSource spend has already migrated to the Vector platform.Wedbush retained an outperform rating on the stock and raised its price target to $36 from $32.Price: $29.07, Change: $-0.81, Percent Change: -2.70%

Wire3d ago

Cognizant's Q2 Results Likely to Indicate Start of Major Turnaround in Growth, Wedbush Says

Cognizant Technology Solutions (CTSH) Q2 results are likely to indicate a start of major turnaround in growth and profitability metrics, supported by momentum with artificial intelligence-driven deals, Wedbush said in a Wednesday research report.Analysts noted that a $5.48 billion consensus Q2 revenue estimate is reachable due to the momentum in the BFSI sector, driving more confidence in the company's ability to capitalize on incremental revenue opportunities over time. The company is due to report Q2 results on July 29.The company's large pipeline and favorable investment cycles will result in sustained growth over the coming quarters, with its bookings-to-revenue conversion starting to ramp in 2026 as more AI deals close, according to the note.Cognizant reworked its pricing architecture via an AI consumption model comprising an agentic cost estimator and a redesigned rate card, with pricing expected to shift towards outcome-based contracting for higher visibility into revenue generation, according to Wedbush.The brokerage maintained its outperform rating on the stock and price target of $70 per share.Price: $43.27, Change: $-0.36, Percent Change: -0.83%

$CTSH

Sectors3d ago

US Total Crude Oil Stocks Fall in Week Ended July 17

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 3.0 million barrels in the week ended July 17 following a decrease of 4.7 million barrels in the previous week.Excluding inventories in the SPR, commercial crude oil stocks rose by 2.0 million barrels after a 1.7-million-barrel drop in the previous week, compared with the 2.0-million-barrel decrease expected in a survey compiled by Bloomberg.Stocks in the SPR fell by 5.1 million in the week after falling by 3.0 million in the previous week.Overall crude oil stocks were down 0.4% from the previous week and 12.0% less than a year earlier. Crude oil inventories are about 6% below the five-year average for this time of the year.Gasoline stocks rose by 800,000 barrels, compared with the 1.9-million-barrel decrease expected. Gasoline stocks were up 0.4% from the previous week, but down 8.6% from a year earlier.Distillate stocks rose by 1.4 million barrels in the current week, compared with an expected increase of 0.8 million barrels. Distillate stocks were up 1.3% from the previous week but were still 0.3% lower than in the same week a year ago.Refineries operated at 96.1% of their capacity, down from 96.2% in the previous week.

Asia Markets3d ago

Asian Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

Asian equities traded in the US as American depositary receipts were tracking lower Wednesday morning, declining 0.41% to 2,916.74 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by polysilicon manufacturer Daqo New Energy (DQ) and solar panel maker JinkoSolar (JKS), which rose 5.3% and 3.9% respectively. They were followed by fintech firm J and Friends (JF) and video display maker LG Display (LPL), which advanced 3.7% and 3.1% respectively.The decliners from North Asia were led by real estate management and digital security company Eason Technology (DXF) and video-sharing platform Bilibili (BILI), which dropped 9.2% and 3.4% respectively. They were followed by automotive platform Token Cat (TC) and electric vehicle maker NIO (NIO), which lost 1.5% and 1.2% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and telecommunications operator PLDT (PHI), which increased 2.7% and 1.5% respectively. They were followed by IT firm Wipro (WIT), which was up 0.6%.The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and lender HDFC Bank (HDB), which fell 5.6% and 1.6% respectively. They were followed by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which were down 1.4% and 1.2% respectively.

$BILI$CAN$DQ$DXF$HDB$JF$JKS$LPL$NIO$PHI$RDY$SE$SIFY$TC$WIT

Wire3d ago

BNP Paribas Adjusts Price Target on Equifax to $190 From $185, Maintains Neutral Rating

Equifax (EFX) has an average rating of overweight and mean price target of $210.86, 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: $168.38, Change: $-4.63, Percent Change: -2.67%

$EFX

Wire3d ago

Raymond James Adjusts Price Target on CME to $330 From $320, Maintains Outperform Rating

CME (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: $253.58, Change: $+16.20, Percent Change: +6.82%

$CME

International3d ago

Canada's Growth Outlook Is Intact but Trade Risks Remain Elevated, UBS Says

This week's new US tariffs are unlikely to materially alter Canada's growth trajectory, given their relatively limited direct economic impact, UBS Global Research said in a note.While the direct economic impact may be limited, renewed trade tensions reinforce the uncertainty surrounding the US-Canada relationship, potentially creating additional headwinds for growth in the near term, said the bank in a note made available to the media on Wednesday.UBS wrote that it forecasts trade uncertainty to gradually ease, supporting broader growth momentum into late 2026 and next year. In the meantime, recent tariff actions are likely to reinforce the Bank of Canada's cautious stance, keeping policymakers on hold this year as they monitor the outlook.The US announced Monday that it will impose a 50% tariff on selected Canadian exports, effective Aug. 19.UBS added it hadn't yet factored the newly announced tariffs into its gross domestic product forecasts for Canada due to the 30-day delay before implementation.The bank said it viewed the measures as part of the wider US-Mexico-Canada Agreement renegotiation process, with their final economic impact contingent on how discussions between the two countries develop.

$CXY

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