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Affirm Partners With Backcountry to Provide Flexible Payment Services

Affirm (AFRM) has partnered with Backcountry to offer its flexible payment services to customers of the outdoor gear and apparel retailer, the company said Thursday.Eligible shoppers at Backcountry and its brands can now select Affirm at online checkout, according to a statement.Price: $76.68, Change: $-0.98, Percent Change: -1.26%

$AFRM

US Markets38d ago

Conagra Brands Poised For In-Line Quarter, With Dividend Cut Likely Amid Challenges, RBC Says

Conagra Brands' (CAG) fiscal fourth-quarter results are largely expected to meet Wall Street's estimates, while the packaged food company could cut its dividend amid a challenging business backdrop, RBC Capital Markets said Thursday.The brokerage projects Conagra's fourth-quarter earnings to match the Street's consensus of $0.46 a share, while its net sales are pegged at $2.87 billion, compared with the $2.89 billion market consensus. The company is scheduled to report results July 15."The bigger story is (fiscal 2027), where limited cost visibility, a difficult pricing environment, and a likely new (chief executive) rebase create a wide range of outcomes," RBC co-head of global consumer and retail research Nik Modi said in a note to clients Thursday. "A dividend cut looks probable and would be welcomed, freeing cash for deleveraging and reinvestment."In April, Conagra announced the appointment of former J.M. Smucker (SJM) executive John Brase as CEO, replacing Sean Connolly.Conagra's dividend yield is 10.4%, or 660 basis points, above its historical 10-year average of 3.8%, implying a "high probability" of a reduction, Modi said Thursday. "We believe the market is already pricing in a sizable cut, and a cut would be constructive for the narrative and free up sizable cash to deleverage, reinvest, and/or accelerate portfolio reshaping."In late March, Conagra announced a quarterly dividend of $0.35 per share.RBC lowered its price target on the company's stock to $16 from $17, with a sector perform rating.Conagra shares were up 1.7% in Thursday late-afternoon trade. So far in 2026, the stock has lost 20% in value.The company is seen posting "modest" organic sales growth that's roughly in-line with market expectations, with limited upside, RBC said. Although Conagra is expected to meet the Street's bottom-line views for the quarter, factors such as inflation are likely to outweigh productivity gains and 53rd-week operating leverage, according to the note."(The company) heads into its (fourth-quarter) print and first formal (2027) guide under pressure -- shares have underperformed, (while) estimates have moderated intra-quarter," Modi said.Price: $13.70, Change: $+0.09, Percent Change: +0.68%

$CAG

Wire38d ago

Top Cryptocurrencies Mixed; Bitcoin Holds Above $59,000 Level

Major digital assets were mixed Thursday, with Bitcoin (BTC-USD) holding above the $59,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell over 0.6% in the past 24 hours. The Nasdaq gained 0.4%, the S&P 500 was relatively unchanged, and the Dow Jones Industrial Average increased 0.2%.Bitcoin fell 0.7% to $59,228.3, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 10.4% to $42.78 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, declined 0.9% to $1,577.5.XRP (XRP-USD) lost 2.2%, BNB (BNB-USD) shed 0.02%, and Solana (SOL-USD) was unchanged. Dogecoin (DOGE-USD) fell 1%, while Cardano (ADA-USD) gained 0.1%.The US 10-year Treasury yield stood at 4.390% at 3 p.m. ET Thursday, down from 4.400% Wednesday, while the five-year yield fell to 4.162% from 4.176%.The total market value of the cryptocurrency industry dropped 0.6% in the past 24 hours to $2.04 trillion, with trading volume increasing 14.2% to $99.12 billion.Price: $59237.76, Change: $-1745.67, Percent Change: -2.86%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

International38d ago

Update: US Equity Indexes Mixed as Micron's Blockbuster Results Fail to Trigger Tech Rally While Apple Weighs

(Updates with index/price moves and geopolitical/company news from the first paragraph.)US equity indexes traded mixed after Micron Technology's (MU) strong quarterly results failed to lift technology amid a slump in Apple's (AAPL) shares, and the annual inflation rate surged to its highest level in more than three years.The Nasdaq Composite fell 0.6% to 25,316.1 ahead of Thursday's close. The S&P 500 slipped 0.1% to 7,349.2, giving up intraday gains. The Dow Jones Industrial Average rose 0.2% to 51,968.8, off session highs. Communication services and consumer discretionary led the decliners, while industrials and health care were standout gainers. Technology was among the decliners.Micron's shares rose past 14%, among the top gainers on the S&P 500 and the Nasdaq, after the company reported fiscal Q3 adjusted earnings and revenue that topped estimates, with Q4 guidance also beating consensus. Shares jumped more than 19% earlier in the session. Rising production of HBM, the high-bandwidth memory used in AI accelerators, is driving strong momentum for Micron, with HBM revenue already above $1 billion and market share topping 20%, RBC Capital Markets said in a note.Apple shares slumped 5.2%, among the worst performers on the Nasdaq and the Dow, after the company, according to media reports, raised prices of its iPads and MacBooks amid surging memory and storage chip costs.Meanwhile, in economic news, annual inflation accelerated to 4.1% in May, the fastest print since April 2023, matching consensus, based on the personal consumption expenditures, or PCE, price index data from the Bureau of Economic Analysis. It follows a 3.8% gain in April. Core PCE inflation, which strips out food and energy, accelerated to 3.4% from a year ago, as expected, from 3.3% in April. That's the highest reading since October 2023.In geopolitical news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged cargo ship Thursday in the Strait of Hormuz, The Wall Street Journal cited two senior US officials in a news report.This comes after the Revolutionary Guard had warned that commercial vessels only use routes approved by Tehran, Al Jazeera, a Middle East news broadcaster, reported on Thursday. The warning followed an announcement from Oman setting out a new shipping transit route through the strait on Wednesday, saying it had coordinated the route with the International Maritime Organization, the news report said.The front-month global benchmark North Sea Brent jumped 2.7% to $75.75 per barrel, and the US West Texas Intermediate climbed 2.9% to $72.37 per barrel, rebounding after touching pre-Iran war levels this week.

Dow JonesNasdaq CompositeS&P 500$AAPL$MU

Wire38d ago

Update: Identiv Shares Fall 31% After Company Agrees to Sell IoT Business Assets to Trackonomy

(Updates to add latest stock movement in lead and headline and adds analysts downgrades in paragraph 2)Identiv (INVE) shares fall 31% in Thursday trading after it said Wednesday it agreed to sell its IoT business operating assets and its Thai subsidiary to Trackonomy Systems in exchange for $50 million of Trackonomy preferred equity and a $25 million cash contribution.Lake Street and Craig Hallum downgraded the stock to buy from hold.Under the definitive agreement, Identiv will sell its IoT assets, including its German research and development center and its Thai subsidiary. The cash contribution is intended to support integration efforts and capital expenditures, the company said.Identiv and Trackonomy also entered into a partnership framework agreement to collaborate on software opportunities leveraging Trackonomy's physical AI platform.The sale is expected to close in Q3 or early Q4, subject to customary closing conditions, including Identiv stockholder approval.Identiv said it plans to remain publicly listed under the ticker symbol "INVE". However, the Identiv name and brand are included in the sale, and the company will adopt a new name after the transaction closes.Price: $2.44, Change: $-1.25, Percent Change: -33.88%

$INVE

Sectors38d ago

Sector Update: Energy

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index gained 2.3%, and the Dow Jones US Utilities Index increased 0.8%.In sector news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged ship on Thursday in the Strait of Hormuz, damaging the vessel's bridge while causing no casualties, the Wall Street Journal reported.West Texas Intermediate crude oil rose 2.9% to $72.27 a barrel, and global benchmark Brent added 2.7% to $75.75 a barrel. Henry Hub natural gas futures gained 2.2% to $3.29 per 1 million BTU.In corporate news, Eco Wave Power Global (WAVE) shares rose 7.3% after the company priced an offering of 400,000 American depositary shares to an institutional investor at $10 apiece for gross proceeds of $4 million.

$WAVE

Wire38d ago

Micron Technology's Strategic Customer Agreements Could Drive Re-Rating, UBS Says

Micron Technology's (MU) recently disclosed strategic customer agreements and through-cycle earnings power are setting the stage for re-rating, UBS said in a note Thursday, pointing to floor-pricing provisions and customer commitments.UBS said the agreements could eventually help sustain gross margins well above prior cycle peaks.The brokerage also expects Micron to generate about $380 billion in cumulative free cash flow during 2027 and 2028, enabling substantial share repurchases after CHIPS Act restrictions expire.The brokerage raised its fiscal 2026-2028 earnings estimates following Micron's stronger-than-expected quarterly results and guidance.UBS maintained its buy rating on Micron and a $1,625 price target.Price: $1201.20, Change: $+153.28, Percent Change: +14.63%

$MU

Sectors38d ago

Sector Update: Financial

Financial stocks were mixed in late Thursday afternoon trading with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.The Philadelphia Housing Index added 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.2%.Bitcoin (BTC-USD) fell 3% to $59,162, and the yield for 10-year US Treasuries decreased 1 basis point to 4.392%.In corporate news, Blue Owl Capital (OWL) is in advanced talks to acquire a minority stake of 5% to 10% in the National Basketball Association's Cleveland Cavaliers, Bloomberg reported. Blue Owl Capital shares dropped 0.5%.

$OWL

Wire38d ago

Snap Faces Arkansas Lawsuit Alleging Deceptive Practices Affecting Minors

Snap (SNAP) is being sued by Arkansas Attorney General Tim Griffin, who alleges the company engaged in deceptive trade practices that put minors at risk, according to a statement released Thursday.The complaint cites Snapchat features such as disappearing messages, cosmetic filters and curated content, which the attorney general says expose minors to a range of harms.The lawsuit also alleges that certain design elements create a "dopamine feedback loop" similar to slot-machine mechanics, encouraging prolonged use by young people.Snap did not immediately respond to a request for comment from.Price: $4.37, Change: $-0.17, Percent Change: -3.64%

$SNAP

Sectors38d ago

Sector Update: Consumer

Consumer stocks were lower late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.4%.In corporate news, Bumble (BMBL) is exploring a sale amid a slowdown in growth of the online dating sector, Reuters reported. The dating app company has selected Morgan Stanley to assist it on a potential sale process, the report said. Bumble shares jumped nearly 6%.

$BMBL

Wire38d ago

Market Chatter: Stellantis, Nissan in Talks to Acquire Marelli Assets Amid Bankruptcy

Stellantis N.V (STLA) and Nissan Motor Co. are in talks to acquire select assets from Marelli Holdings Co., the bankrupt auto-parts supplier currently undergoing a complex Chapter 11 restructuring, Bloomberg reported, citing people familiar with the matter.Stellantis is in discussions for Marelli's suspensions business in Italy, Poland, Brazil, and Mexico, while Nissan is looking at cockpit assets in Japan, the report said, adding that no certainty exists that deals will be concluded.Stellantis and Nissan are Marelli's largest unsecured creditors and are involved in restructuring talks due to their close working relationships with the supplier, according to the report.Stellantis, Nissan and Marelli did not immediately respond to requests 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: $5.76, Change: $-0.09, Percent Change: -1.46%

$STLA

Wire38d ago

Boeing Wins $2 Billion US Space Force Contract for Military Communications Satellites

Boeing (BA) said Thursday it has won a $2 billion US Space Force contract for a Mobile User Objective System Service Life Extension program.The award includes two narrowband communications satellites to extend secure military voice and data connectivity, with the first delivery scheduled for 2031, the company said.Boeing will build the system on its 702MP medium-class spacecraft to expand communications capacity and reduce interference, the company added.Price: $218.22, Change: $-2.03, Percent Change: -0.92%

$BA

Sectors38d ago

Sector Update: Healthcare

Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.8%.The iShares Biotechnology ETF (IBB) advanced 1.2%.In corporate news, Kymera Therapeutics (KYMR) shares jumped 14% after the company said it has completed enrollment in its phase 2b Broaden2 trial of KT-621 in moderate to severe atopic dermatitis ahead of schedule.

$KYMR

Sectors38d ago

Sector Update: Tech

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.1%.The Philadelphia Semiconductor index climbed up 2.8%.In corporate news, Apple shares fell 4.7%. The tech giant increased iPad and MacBook prices amid surging memory and storage chip costs, news outlets reported.

$AAPL

Wire38d ago

Xylem Shares Rise After Jefferies Upgrade

Xylem (XYL) shares rose 4% in Thursday trading after Jefferies upgraded the stock to buy from hold and adjusted the price target to $140 from $130.Trading volumes stood at over 1.4 million shares compared with a daily average of about 2.1 million.Price: $116.46, Change: $+4.42, Percent Change: +3.95%

$XYL

Wire38d ago

Primoris Services Shares Rise After Goldman Sachs Upgrade

Primoris Services (PRIM) shares rose 1.8% in Thursday trading after Goldman Sachs upgraded the stock to neutral from sell, while lowering the price target to $102 from $107.Trading volume stood at about 1.2 million shares, compared with a daily average of 2 million.Price: $94.13, Change: $+1.44, Percent Change: +1.55%

$PRIM

Wire38d ago

Paranovus Entertainment Technology Shares Fall After Announcing 1-for-100 Reverse Share Split

Paranovus Entertainment Technology (PAVS) shares fell 35% in afternoon trading on Thursday after the company said it plans a 1-for-100 reverse share split of its class A ordinary shares.The reverse share split will be effective on the market open on Monday and will reduce the number of shares to roughly 856,851 from 85.7 million, the company said.Price: $0.09, Change: $-0.05, Percent Change: -35.46%

$PAVS

International38d ago

Daily Roundup of Key US Economic Data for June 25

The third estimate of Q1 GDP showed a 2.1% gain after a 0.5% increase in the previous quarter, an upward revision from a 1.6% gain in the previous estimate.PCE growth was revised down to a 0.5% gain from a 1.4% increase in the previous estimate, but there were upward adjustments to every other component except residential fixed investment.Personal income was up 0.7% in May, ahead of expectations after a flat reading in the previous month, while personal consumption expenditures rose by 0.7% in May after a 0.4% increase in April.Real PCE was up 0.3% after a flat reading in April, with the PCE price index up 0.4% for another month and the core PCE price up 0.3% again.The PCE price index was up 4.1% year-over-year in May, faster than a 3.8% gain in the previous month and a three-year high, while core PCE price rose by 3.4% from a year ago after a 3.3% gain in April, the highest since October 2023.Initial jobless claims decreased by 12,000 to 215,000 in the week ended June 20, but the four-week moving average rose by 750 to 224,250, a fifth straight increase.Insured claims rose by 21,000 to 1.821 million in the employment survey week ended June 13. Insured jobless claims were at a level of 1.785 million in the employment survey week ended May 16.Natural gas stocks rose by 76 billion cubic feet to 2.835 trillion cubic feet in the week ended June 19, down 1.7% from a year earlier but 5.7% higher than the seasonal average for the current week over the previous five years.Durable goods new orders fell by 4.5% in May, while shipments rose by 1%. Excluding transportation, new orders were up 1.3%, and shipments rose by 0.8%.The Kansas City manufacturing reading rose to 11 in June from 8 in May.The Chicago National Activity Index fell below its breakeven point in May, indicating contraction in activity.The Q2 GDP nowcast estimate from the Atlanta Fed is for a 2.5% gain, down from the previous estimate of a 3% gain.

Wire38d ago

Weatherford Tracking Toward Upper End of Q2 Guidance as 2027 Outlook Improves, UBS Says

Weatherford International (WFRD) is tracking toward the upper end of its second-quarter guidance with no major surprises from the Middle East conflict, though headwinds are expected to persist into Q3 before a meaningful Q4 recovery and an improving 2027 outlook, UBS Securities said.The investment firm forecasts Q2 adjusted EBITDA of $213 million and revenue of $1.074 billion versus Street estimates of $209 million and $1.071 billion. The firm also expects adjusted earnings per share of $1.01, above the consensus estimate of $0.92.Cease-fire progress and the gradual roll-off of startup costs are expected to support a recovery through year-end, according to the note Wednesday.UBS also sees tightening regional activity after the conflict creating pricing opportunities that could position Weatherford well heading into 2027.The pending NCS Multistage (NCSM) acquisition adds further upside. The deal expands Weatherford's completions offering, is expected to generate more than $15 million in annual run-rate synergies and could roughly double non-North American revenue contribution over the long term.UBS maintained its neutral rating and $113 price target.Price: $84.42, Change: $-0.07, Percent Change: -0.08%

$WFRD

Wire38d ago

UWM Shares Rise After Keefe Bruyette & Wood Upgrade

UWM (UWMC) shares were up over 4% in Thursday trading after Keefe Bruyette & Wood upgraded the stock to outperform from market perform.Trading volume stood at more than 18.5 million shares, compared with a daily average of nearly 19.2 million.Price: $2.11, Change: $+0.09, Percent Change: +4.21%

$UWMC

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International38d ago

Update: US Equity Indexes Mixed as Micron's Blockbuster Results Fail to Trigger Tech Rally While Apple Weighs

Dow JonesNasdaq CompositeS&P 500$AAPL$MU