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Anthropic and Trump Administration Have Not Discussed US Stake in Company, Reuters Reports

CIBC Proposing C$10 Million Settlement of Non-Sufficient Finds Fees Class Action

CIBC (CM.TO) and law firm Koskie Minsky on Thursday proposed a C$10-million settlement of the non-sufficient funds fees (NSF fees) class action.If approved by a court at a hearing set for Oct. 19, funds will be deposited into the bank accounts of eligible class action members. CIBC has not admitted liability and denies liability, a joint statement released Thursday said.The lawsuit challenged CIBC's practice of charging NSF fees on "re-presented pre-authorized debit transactions" (PADs) between Sept. 21, 2020 and May 31, 2024. A proposed settlement agreement was reached on June 24, 2026.Ottawa capped NSF fees at C$10.00 last March.Price: $161.27, Change: $-2.05, Percent Change: -1.26%

$CM.TO

US Markets34d ago

Tesla Second-Quarter Deliveries Top Views; Shares Fall Intraday

Tesla (TSLA) shares were down Thursday even as the company's second-quarter deliveries beat Wall Street's expectations, while Truist Securities said the electric vehicle maker didn't provide any updates on key topics.Tesla delivered 480,126 vehicles in the June quarter, up from 384,122 a year earlier and 358,023 in the prior three-month period. The consensus forecast on FactSet was for 427,000 units.The company's shares were down 7.8% in afternoon trade, bringing its year-to-date losses to nearly 12%."We view (artificial intelligence) developments as far more important than auto deliveries for (Tesla's) long-term cash generation and stock performance," Truist Managing Director William Stein said in a note to clients."The most important of these, near-term, is (Full Self-Driving) and related projects (robotaxi and cybercab), which (Tesla) did not update today," Stein wrote. "We continue to view progress in this area as positive, but imperfect."Full Self-Driving is a driver assistance software offered by Tesla.The brokerage reiterated its hold rating on the EV maker's stock while raising its price target to $430 from $400.Tesla produced 451,758 vehicles in the second quarter, compared with 410,244 a year earlier and 408,386 in the March quarter. Truist was looking for 473,000 units in the latest quarter, according to the note.Separately, Rivian Automotive (RIVN) on Thursday raised its delivery projections for this year after its second-quarter numbers exceeded expectations. Ford Motor (F) reported a 10% annual drop in new US vehicle sales for the three months to June.Rivian shares were up 8.5% intraday, while Ford saw a 2.7% drop.On Wednesday, General Motors (GM) said US vehicle sales fell 4.2% year over year in the second quarter due to a smaller EV market, discontinued vehicles and inventory constraints.Tesla is scheduled to report its second-quarter financial results July 22.Price: $393.83, Change: $-31.47, Percent Change: -7.40%

$F$GM$RIVN$TSLA

Wire34d ago

Caterpillar Launches Texas Workforce Investment Program

Caterpillar (CAT) said Thursday it started a workforce investment program in Texas with an initial allocation of up to $5 million.The funding is part of a five-year, $100 million plan to prepare personnel for advanced manufacturing and industry technician roles, the company said.The company will collaborate with Texas State Technical College, the Manufacturing Institute, and local economic organizations to lower training barriers and link students to industrial careers, Caterpillar said.Price: $963.10, Change: $-28.31, Percent Change: -2.86%

$CAT

Wire34d ago

AbbVie, Other Healthcare Stocks Rise as Trump Administration Reportedly Targets Hospital Drug Markups

AbbVie (ABBV) and other healthcare stocks were rising in recent Thursday trading after the Trump administration reportedly proposed a new rule to curb hospital drug markups in Medicare.According to The Associated Press, the rule targets hospitals in the 340B program, which allows them to buy outpatient drugs at reduced prices for low-income patients but often bill insurers at higher rates and keep the difference.The move could save consumers about $1.1 billion next year, according to estimates obtained by The Associated Press.AbbVie rose 3.1%, Johnson & Johnson (JNJ) was up 2.5%, Bristol-Myers Squibb (BMY) gained 2.8%, and Merck & Co. (MRK) rose 2.1% in the session.The White House didn't immediately reply to' request for comment.Price: $259.00, Change: $+7.94, Percent Change: +3.16%

$ABBV$BMY$JNJ$MRK

Commodities34d ago

EMEA Natural Gas Update: Futures Rise as Heatwaves Overwhelms Hormuz Relief

European natural gas futures extended gains in late trading on Thursday as rising electricity demand from ongoing heatwaves outweighed bearish sentiment stemming from improvements in transit through the Strait of Hormuz.The front-month Dutch TTF contract rose 4.245% to 44.595 euros ($51.00) per megawatt-hour, while the UK front-month NBP contract gained 4.484% to 106.250 British pence ($1.42) per therm.European benchmark gas prices climbed back toward 44 euros/MWh, their highest level in nearly three weeks, as strong cooling demand offset some of the downward pressure following the reopening of the Strait of Hormuz, according to Trading Economics.Extreme heat continued to grip large parts of Europe, driving up electricity consumption for air conditioning at a time when gas inventories remain well below seasonal norms, and countries are racing to rebuild stocks ahead of winter.Spain and France are preparing for another intense heatwave that could push temperatures as high as 44 degrees Celsius (111 degrees Fahrenheit) in the coming days. The Guardian reported on Thursday that June's extreme heat was linked to more than 2,000 excess deaths across the two countries.Spain's state meteorological agency, Aemet, said a mass of hot, dry air would bring persistently high temperatures across much of the country from Saturday, with southeastern regions expected to reach 42-44 degrees Celsius by Tuesday. Aemet also said June was Spain's second-warmest on record, exceeded only by June 2025, with average temperatures 3.2 degrees Celsius above normal.On the storage side, EU inventories were 49% full, compared with 59% at the same time last year, according to Gas Infrastructure Europe. Inventories also remained well below the five-year average of 64% for this period, according to data from the Swiss Federal Office of Energy. Celsius Energy put current EU inventories at 1,891 Bcf, down 397 Bcf, or 17.3% below the year-ago level and 565 Bcf, or 23% below the five-year average."With storage replenishment progressing at a slower-than-usual pace, any sustained disruption to global LNG shipments or extended summer heatwaves could spark another sharp price spike ahead of the autumn buying season," Investing.com said.

Oil & Energy34d ago

Improving Hormuz Traffic Pressures Oil While Distillates and Power Strengthen, Kpler Says

Crude prices extended losses as improved shipping through the Strait of Hormuz weighed on oil markets, while refined products and European power outperformed, Kpler said in a note on Thursday.Following the US-Iran memorandum of understanding, Brent fell 6.1% to about $75.7 per barrel and West Texas Intermediate declined 5.4%.Shipping through the Strait of Hormuz reached its highest daily level since the conflict began, Kpler said.Non-Iranian crude stored in the Gulf fell to 64 million barrels from 82.6 million, while Iranian exports recovered above 840,000 b/d under the 60-day waiver.The Dubai first-to-third-month spread also moved into a $1.12-per-barrel contango, Kpler said.A market in contango points to a surplus of spot supply amid weak spot demand, reflecting bearish market sentiment. In a contango structure, futures prices trade higher than spot prices.West Texas Intermediate outperformed other crude benchmarks as inventories at Cushing fell below 19 million barrels, their lowest level in a decade. US crude stocks also dropped below the five-year range for the first time this year, supporting time spreads.Kpler said improving Hormuz shipping remains the main bearish driver for crude markets and could push global oil balances into a surplus during Q4.Refined products traded mixed. Gasoil gained 3.2% and reformulated gasoline blendstock rose 2.5%, while Northwest European naphtha slipped 0.3% and Singapore fuel oil declined 0.6%, Kpler added.Middle distillate prices strengthened as traders priced in potential supply disruptions after Russia raised the possibility of an export ban and Ukrainian drone attacks shut about 2.5 million b/d of crude distillation capacity, Kpler said.Low water levels on Germany's Rhine River also disrupted fuel transportation, while the June 30 expiry of the fuel tax added further support to prices, the note said.Western gasoline margins improved as inventories remained about 5% below the five-year average and demand from Mexico stayed firm. US jet fuel production also reached record levels of 2.2 million b/d at a 12.9% yield.European power prices climbed as a heatwave, weaker wind generation and river temperature limits at French nuclear plants tightened electricity supplies. Temperatures ran 3 to 5 degrees Celsius above seasonal levels, Kpler said.River temperature restrictions could affect as much as 6.5 gigawatts of nuclear capacity across Blayais, Bugey, Golfech, Nogent and Saint-Alban.German baseload power rose 3.1%, while Dutch Title Transfer Facility gas gained 1.2%, according to the note.Dutch Title Transfer Facility gas advanced despite storage reaching 47.2% and the recovering Atlantic liquefied natural gas supply, as renewed vessel attacks in the Middle East raised supply concerns.Japan-Korea Marker slipped 0.3% but drew support from stronger South Korean restocking and weaker Chinese output, while Henry Hub fell 2.2% on profit-taking despite hot US weather, Kpler said.

Wire34d ago

Nocera to Implement 1-for-30 Reverse Stock Split; Shares Fall

Nocera (NCRA) said Thursday it will implement a 1-for-30 reverse stock split after the market closes Monday, with its stock set to begin trading on a split-adjusted basis on the Nasdaq Capital Market Tuesday.The reverse split will reduce the company's outstanding shares to about 1.55 million from about 46.5 million. The board selected the 1-for-30 ratio after receiving shareholder approval earlier this year.The company said the reverse split is intended to help satisfy Nasdaq's minimum bid price requirement for continued listing.Shares of Nocera were down more than 33% in Thursday afternoon trading.Price: $0.07, Change: $-0.03, Percent Change: -33.10%

$NCRA

Wire34d ago

Gordon Haskett Adjusts Dollar Tree Price Target to $125 From $115, Maintains Hold Rating

$DLTR

Mining & Metals34d ago

TSX up 76 Points at Midday, Led by Info Tech, Industrials

The Toronto Stock Exchange is up 76 points midday in choppy trade, with most sectors lower as the market resumes trading after the Canada Day holiday.Info tech and industrials are the sole gainers, up 0.9% and 0.5%, respectively.Limiting gains are decliners in materials, which is down 1.5%, and telecoms (-0.8%), followed by financials (-0.6%).In economic news, Canada's manufacturing sector expanded for a third straight month. The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) stood at 53.0 in June, a tick above May's 52.9.The Trump administration also declined to renew the CUSMA trade agreement in its current form, necessitating annual reviews.In stocks, Aecon Group (ARE.TO) is up 8.2% to C$49.25 after it said its consortium was awarded a C$4 billion contract by Greenlight Electricity Centre Limited Partnership to build a 932-megawatt power plant in central Alberta to serve data-center power demand.Aecon's C$1.7 billion share of the contract value will be added to its construction segment backlog in the third quarter.

S&P/TSX CompositeS&P/TSX Composite$ARE.TO

Japan34d ago

Update: US Equity Indexes Mixed as Sell-Off in Growth Sectors Follows Smallest Job Addition in Four Months

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes traded mixed as investors rotated out of high-growth sectors and into defensives after the economy added the fewest jobs since February.The Nasdaq Composite fell 0.5% to 25,814.1, and the S&P 500 declined 0.2% to 7,465.4 after midday Thursday. The Dow Jones Industrial Average bucked the trend, remaining 0.7% higher at 52,752.5 after hitting a new all-time peak of 52,805.12 earlier in the session.Communication services, technology, and consumer discretionary were the only decliners. Healthcare, consumer staples, and utilities led the gainers.The June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion, for a net downward revision of 74,000 jobs.Meanwhile, Atlanta Federal Reserve's gross domestic product 'Nowcast' estimate came in at 1.2% growth in Q2, versus the previous 2.5% forecast.Most US Treasury yields fell, with the 10-year down 1.4 basis points to 4.46%. The two-year rate retreated 4.8 basis points to 4.12%.In geopolitical news, the Doha discussions between the US and Iran produced "positive progress" on issues related to the memorandum that halted the war in June and were "building on the outcomes" from the Switzerland summit, a Qatar Foreign Ministry spokesperson said in a post on X, formerly Twitter, according to Reuters.The front-month global benchmark North Sea Brent declined 1.2% to $70.75 per barrel, and the US West Texas Intermediate fell 1.2% to $67.76 per barrel.

Dow JonesNasdaq CompositeS&P 500

Wire34d ago

Akamai Technologies Completes LayerX Acquisition

Akamai Technologies (AKAM) said Thursday it has completed its acquisition of LayerX for about $205 million.LayerX offers a browser security platform that allows enterprises to add protections to their preferred, existing browsers, it said.Price: $110.82, Change: $-1.99, Percent Change: -1.76%

$AKAM

Mining & Metals34d ago

Graphene Manufacturing Group Provides Update on Quarterly ATM Sales

Graphene Manufacturing Group (GMG.V) on Thursday said it issued 193,500 shares on the TSX Venture Exchange at an average price of C$2.57 each under its "at-the-market" equity program during the second quarter.The ATM Program, launched in July 2025, allows the company to issue and sell up to C$20 million of its shares from to the public under an equity distribution agreement between the company and Cantor Fitzgerald Canada, it added.Commissions were paid to the agent in relation to these distributions, resulting in net proceeds to the company of C$482,447.59, added Graphene.The company's shares were last unchanged at, to C$2.38 on the TSX Venture Exchange.

$GMG.V

Wire34d ago

Goldman to Match $1,000 Federal Contributions to Trump Accounts for Employees' Children

Goldman Sachs Group (GS) said Thursday it will provide a $1,000 matching contribution to federal Trump Accounts, a new tax-deferred federal investment vehicle, for eligible children of its US employees.The accounts are scheduled to launch Saturday. Children born from 2025 to 2028 will receive a one-time $1,000 federal contribution upon enrollment, which Goldman will match.Price: $1021.51, Change: $+1.90, Percent Change: +0.19%

$GS

US Markets34d ago

Rivian Raises Delivery Outlook After Strong Second Quarter; Ford US Sales Fall 10%

Rivian Automotive (RIVN) raised delivery projections for this year after the electric vehicle manufacturer's second-quarter numbers exceeded expectations, while Ford (F) reported a 10% annual drop in new US vehicle sales for the three months to June.Rivian now expects full-year vehicle deliveries of 65,000 to 70,000, compared with its prior guidance of 62,000 to 67,000 and the FactSet-polled consensus for 64,000 units. Deliveries totaled 42,247 in 2025.Shares of Rivian were up nearly 10% in Thursday trade. The stock is down about 4.3% so far this year.For the June quarter, Rivian reported total deliveries of 12,194, surpassing six analysts' projection of 11,000 vehicles. The company delivered 10,365 vehicles in the March quarter, and 10,661 units in the 2025 second quarter.Rivian attributed the second-quarter performance to sequential growth of delivery vans and R1 electric sports utility vehicles, along with R2 SUV deliveries.The company said it produced 12,613 vehicles in the second quarter, up from the March quarter output of 10,236 vehicles and more than double the year-ago tally of 5,979 units.Ford Motor's (F) second-quarter new US sales declined 10% annually to 549,200 vehicles, partly reflecting the planned phase-out of the Escape and Corsair. Pure EV sales plunged 41%.It sold 457,315 units in the first quarter of 2026 and 612,095 vehicles in the second quarter of 2025.Ford sold 1 million vehicles from January to June, down 9.6% from the year-ago period. First-half F-Series sales tumbled 13%."Although customer demand remains high, first-half F-Series sales reflect a retiming of commercial production following last year's aluminum supply shortages," Ford said in a release. "Ford expects supply to recover more fully in the second half of the year."Separately, Tesla (TSLA) reported second-quarter deliveries well above Wall Street's expectations.On Wednesday, General Motors (GM) said US vehicle sales fell 4.2% year over year in the second quarter due to a smaller EV market, discontinued vehicles and inventory constraints.Last week, Cox Automotive maintained its 2026 new vehicle sales forecast at 15.8 million units, which would reflect a 2.9% annual drop.Price: $18.96, Change: $+1.78, Percent Change: +10.36%

$F$GM$RIVN$TSLA

Commodities34d ago

Yara to Acquire Gulf Coast Ammonia Facility for $1.3 Billion

Yara International said on Thursday it will acquire Gulf Coast Ammonia's production facility in Texas City, Texas, for $1.3 billion, expanding the company's exposure to US natural gas and strengthening its global ammonia portfolio.The plant, with an expected nameplate capacity of 1.3 million metric tons per annum, is currently in commissioning and is projected to ramp up toward full production and stable operations by the end of 2026.Yara North America will own and operate the asset, while industrial gases will be supplied under a long-term agreement with Air Products and Chemicals.The company said the deal supports its strategy to diversify energy exposure and increase competitiveness by expanding access to US gas pricing, particularly Henry Hub-linked supply.Yara will use its midstream ammonia platform to serve both external customers and its internal fertilizer production needs and expects the plant to ultimately operate at or above nameplate capacity.The company said the acquisition strengthens its US presence and aligns with its broader collaboration with Air Products, including existing arrangements linked to low-carbon ammonia projects.It said hydrogen and nitrogen supply will be provided under long-term contracts, while ammonia synthesis loop and storage assets are included in the transaction.Yara also said the investment increases its 2026 capital expenditure to $2.5 billion but remains within its 2026/30 investment framework.The company expects a pro forma net debt-to-EBITDA ratio of 1.73, including recent dividend payments, keeping leverage within its capital allocation policy range.The Oslo-based group reiterated its medium-term target of maintaining net debt/EBITDA between 1.5 and 2 and preserving a strong credit profile.Completion of the transaction is subject to regulatory approvals.

Wire34d ago

MacroGenics Closes Sale of Manufacturing Operations to Bora Pharmaceuticals

MacroGenics (MGNX) closed the sale of its good manufacturing practices drug substance manufacturing operations to Bora Pharmaceuticals for $122.5 million, the companies said Thursday.The transaction includes MacroGenics' manufacturing site and warehouse in Maryland, with Bora also absorbing 140 employees, according to a statement.Concurrently, the companies said they signed a supply agreement, under which Bora will support process development and drug substance production for MacroGenics' pipeline requirements.MacroGenics shares rose more than 3% in Thursday trading.Price: $4.78, Change: $+0.16, Percent Change: +3.35%

$MGNX

Wire34d ago

Exelixis Faces Balanced Risk-Reward Ahead of Key Catalysts, UBS Says

Exelixis (EXEL) offers balanced risk-reward ahead of several key catalysts, with its Zanzalintinib therapy well positioned for success in a non-clear cell renal cell carcinoma, or nccRCC, trial readout in the second half of 2026 that could lift the stock, UBS Securities said.The brokerage said Zanzalintinib's expansion into additional indications will be critical to maintaining Exelixis' value after Cabometyx loses exclusivity. Even if the nccRCC readout is positive, UBS said there remains debate over whether Zanzalintinib can outperform Cabometyx in renal cell carcinoma.The firm also said the therapy's potential launch in metastatic colorectal cancer remains another important catalyst, with the US Food and Drug Administration's target action date for the company's new drug application set for Dec. 3.UBS models Q2 product revenue of $569 million, below the Visible Alpha consensus estimate of $584 million. The brokerage maintained its 2026 product revenue estimate of $2.3 billion, compared with the Visible Alpha consensus of $2.4 billion.The firm raised its price target on Exelixis to $52 from $43 and reiterated its neutral rating.Shares of Exelixis were up 3% in Thursday trading.Price: $55.59, Change: $+1.63, Percent Change: +3.02%

$EXEL

Asia Markets34d ago

Swiss Blue-chip Index Recovers Amid Easing Inflation; UBS, Roche Shares Gain

Swiss stocks staged a recovery on Thursday, with the Swiss Market Index closing 1.69% higher, as investors digested a fresh batch of economic data prints that hit the market.The annual inflation rate in Switzerland ticked down to 0.5% in June from 0.6% in May, government data showed. Month over month, consumer prices remained stable, against the prior 0.2% rise and the expected 0.1% uptick."The stability of the index compared with the previous month was the result of contrasting trends that offset one another overall. Prices for fruiting vegetables and stem vegetables increased. Hotels and other accommodation providers also recorded a price increase, as did car rental and car sharing," the Federal Statistical Office said. "In contrast, prices for air transport decreased, as did those for heating oil and diesel."Elsewhere and on the jobs front, the seasonally adjusted unemployment rate in the euro area stood at 6.2% in May, unchanged from the previous month's revised figure. Meanwhile, the US unemployment rate declined to 4.2% in June from 4.3% a month before.Over to corporates, UBS Group's (UBSG.SW) eligible common equity Tier 1 capital exceeds the fully applied capital requirements under the existing "too-big-to-fail" regulations by $9 billion as of the first quarter of 2026, according to the Swiss National Bank (SNBN.SW)."UBS can be expected to be able to comply with the proposed capital measures, while continuing to distribute profits to its shareholders," the SNB said in its latest financial stability report, taking into account the group's reserves and expected profits, as well as the seven-year transition period to meet the revised requirements. UBS shares were up 1.96% at closing.Swiss pharmaceutical giant Roche (RO.SW) also saw its shares rise 3.89% as it announced that the late-stage Krascendo 1 trial evaluating its investigational divarasib therapy met its primary and key secondary endpoints, achieving clinically meaningful and statistically significant improvements in progression-free survival and overall survival in patients previously treated with KRAS G12C-mutant advanced or metastatic non-small cell lung cancer.In geopolitical news, the US and Iran wrapped up indirect talks in Doha. Qatar's foreign ministry described the discussions as showing "positive progress" and said further negotiations would resume after the state funeral of Iran's late Supreme Leader Ayatollah Ali Khamenei.

^SSMI$RO.SW$UBSG.SW

Asia Markets34d ago

German DAX Index Climbs as Berlin Rolls Out Economic Reform Package

German equities closed Thursday's session higher, with the blue-chip DAX index gaining 2.16%, after German Chancellor Friedrich Merz's ruling coalition unveiled a comprehensive economic stimulus package.The measures include 10 billion euros in annual tax cuts for lower-income groups, pension reforms, initiatives to expand affordable housing, and a plan to target welfare fraud, among others."The reform package shows that both coalition partners were willing to compromise and that the government is embarking on structural reforms to be implemented by year-end. This should bode well for sentiment and dovetails with our forecast that growth will pick up in the second half of the year," Deutsche Bank Research said.In geopolitical news, Qatar's Foreign Ministry spokesperson Majed Al Ansari said in a social media post that indirect technical talks for a US-Iran peace deal in Doha yielded "positive progress" on select elements of the June memorandum of understanding. The next round of talks is scheduled to resume "at the earliest possible time" after the state funeral and processions for Iran's late Supreme Leader Ayatollah Ali Khamenei, according to the Qatari ministry official.On the corporate front, Bayer (BAYN.F) was up 8.90%, rising to the top of the blue-chip index, after announcing plans to move its US glyphosate operations under a newly established holding company called Ruveon. The German pharmaceuticals and crop science group aims to streamline its Roundup weedkiller business and tailor its operations to the US market.Separately, Deutsche Bank Research upgraded Bayer to buy from hold and increased its price target by 33.3% to 60 euros following last week's major US Supreme Court victory ruling in its favor on glyphosate failure-to-warn claims. "This ruling makes the settlement considerably more likely to hold. All in all, we believe it should effectively cap the glyphosate exposure within existing provisions," the research firm wrote, noting that investor focus should begin shifting back to fundamentals.Meanwhile, European land defense group KNDS paused its planned initial public offering and market listing in Frankfurt and Paris, citing current defense sector volatility. The company's shareholders plan to resume the process once market conditions improve.

^DAX$BAYN.F

Showing 17641-17660 of 68034

Oil & Energy34d ago