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Sector Update: Consumer Stocks Decline Thursday Afternoon

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.1%.In corporate news, Darden Restaurants (DRI) issued a full-year earnings outlook below market estimates on Thursday, and the restaurant operator's fiscal Q4 sales fell short of expectations. Its shares fell 1.3%.McCormick (MKC) reported fiscal Q2 results above Wall Street's estimates on Thursday, while reiterating its full-year outlook. McCormick shares gained 3.8%.Cal-Maine Foods (CALM) and other egg producers may soon resolve Justice Department and state investigations into alleged illegal price coordination, Bloomberg reported. Cal-Maine Foods shares were down 2.8%.

$CALM$DRI$MKC

Wire38d ago

Market Chatter: Apple to Advance AI Chip Strategy for Macs

Apple (AAPL) is preparing a major change to its Mac processor strategy by moving its high-end chips directly to a new AI-focused M7 generation, skipping premium versions of the upcoming M6 line, Bloomberg News reported Thursday, citing people with knowledge of the matter.The company still plans to introduce a base M6 chip as early as this year for entry-level Macs, though it will forgo the usual Pro and Max variants and instead roll out M7-based Pro and Max processors in 2027, offering more advanced computing and graphics performance, the report said.Apple 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: $277.58, Change: $-15.59, Percent Change: -5.32%

$AAPL

Sectors38d ago

Sector Update: Tech Shares Rise Thursday Afternoon

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.6%.The Philadelphia Semiconductor index popped 3.6%.In sector news, the US is looking to partner with the EU on AI in an effort to secure supply chains for semiconductors amid increasing competition from China, Bloomberg reported, citing a draft statement of the proposal.In corporate news, Micron Technology (MU) shares jumped past 16% after it reported fiscal Q3 adjusted earnings and revenue that topped estimates, with Q4 guidance also beating consensus.BlackBerry (BB) on Thursday raised its fiscal 2027 guidance as growth in the embedded software solutions division helped buoy Q1 results. Its shares surged over 20%.Alphabet's (GOOG, GOOGL) Google is revamping its AI coding strike team to close the gap with Anthropic in the most profitable AI applications, The Information reported. Alphabet shares were down over 1%.

$BB$GOOG$GOOGL$MU

Sectors38d ago

Sector Update: Energy

Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.4%.The Philadelphia Oil Service Sector Index was climbing 2.2%, and the Dow Jones US Utilities Index increased 0.2%.Front-month West Texas Intermediate crude oil rose 1.7% to $71.53 a barrel, and the global benchmark Brent crude contract added 1.4% to $74.75 a barrel. Henry Hub natural gas futures gained 1.7% to $3.27 per 1 million BTU.In corporate news, Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Shares were down 0.2%.

$CVX

Wire38d ago

Ambiq Micro Raises $179.4 Million From Upsized Public Offering

Ambiq Micro (AMBQ) said Thursday it closed an upsized public offering of 2.3 million common shares, raising gross proceeds of $179.4 million.The company said total includes the full exercise of the underwriters' option to buy 300,000 additional shares at the public offering price of $78.00 per share.Shares of Ambiq Micro were up 5% in Thursday trading.Price: $85.29, Change: $+4.11, Percent Change: +5.06%

$AMBQ

Mining & Metals38d ago

Minera Alamos to Change Its Name to Mining Americas

Minera Alamos (MAI.V) on Thursday said its is changing its name to Mining Americas,The name change was approved by shareholders at its annual meeting today, the company said. The TSX Venture Exchange, which has given conditional approval for the switch, will announce the effective date of the name change, it added.The company's shares will continue trading under the ticker MAI on the TSXV and MAIFF on the OTCQX, said the company.The board of directors appointed Darren Pylot as chair, the company added."We are excited to officially welcome Darren Pylot as our new Chairman, and will readily draw from his company-building expertise from his leadership at Capstone Copper as Founder, President, CEO, and later Executive Chair," said Chief Executive Officer Darren Blasutti. "We would also like to thank Jason Kosec for his time serving as Chairman and are pleased to have him remain as a Director. The name change to Mining Americas Inc. is reflective of the Company's strategy to become a leading, U.S.-focused intermediate gold producer."The company's shares were last seen up C$0.08 to C$4.89 on the TSX Venture Exchange.Price: $4.89, Change: $+0.08, Percent Change: +1.66%

$MAI.V

Wire38d ago

Market Chatter: Dell Technologies Ends Arrow Distribution Partnership After Review

Dell Technologies (DELL) is ending its enterprise computing distribution partnership with Arrow Enterprise Computing Solutions following a review of its North American distribution business, CRN reported Thursday, citing sources.According to CRN, Dell decided to end the relationship because Arrow did not carry Dell's full product portfolio, including client devices, and had limited warehouse and stocking capabilities.The move could shift $1.4 billion to $2 billion in Dell channel business to rival distributors, with partners expected to transition to new distributors or buy directly from Dell over the coming months.Dell told CRN it regularly reviews its go-to-market strategy and partner ecosystem to support customer growth across North America, but did not directly confirm the termination.Dell and Arrow 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: $410.00, Change: $-24.06, Percent Change: -5.54%

$DELL

Mining & Metals38d ago

Encore Technologies to Invest US$1 Million in Solstar Space, Announces C$1.4 Million Private Placement

Encore Technologies (ENCR.CN) on Thursday said it will invest US$1 million in Solstar Space to increase its exposure to a high-growth industry.Encore, who has entered into a binding term sheet with Solstar, will complete a private placement of shares to raise up to C$1.4 million. The investment is conditional on the financing being completed.Solstar's Deke Space Communicator is operating on the Momentus Vigoride 7 mission that was launched by SpaceX Falcon 9 last March. Co-passengers on the mission include NASA, DARPA, and a commercial space data center operator, all using the Deke service, a statement said.The company's shares were last seen unchanged at C$0.30 on the Canadian Securities Exchange.

$ENCR.CN

Wire38d ago

Microsoft Raises Prices on Xbox Consoles

Microsoft (MSFT) is raising the price of the Xbox 512 GB console by $100 and the Xbox 1 TB model by $150, effective Aug. 1."Unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027," Microsoft said Thursday in a statement.The company is sunsetting the 2 TB model and introducing programs to make consoles more affordable, including buy-now, pay-later options, interest-free financing and certified refurbished models.Price: $351.01, Change: $-14.44, Percent Change: -3.95%

$MSFT

Asia Markets38d ago

Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM rose while IVV fell. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were mixed Thursday afternoon, with strong Q3 results from Micron Technology (MU) sending the stock up sharply while failing to lift the technology sector.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.4%; iShares US Technology ETF (IYW) rose 0.3%, and iShares Expanded Tech Sector ETF (IGM) was up 0.5%.The State Street SPDR S&P Semiconductor (XSD) added 1.9%, and iShares Semiconductor (SOXX) rose 3.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.6%.CommoditiesCrude oil added 1.8%, and the United States Oil Fund (USO) gained 2.1%. Natural gas advanced 1.3%, and the United States Natural Gas Fund (UNG) was up 0.4%.Gold on Comex added 1.1%, and the State Street SPDR Gold Shares (GLD) rose 0.9%. Silver was up 0.7%, and iShares Silver Trust (SLV) climbed up 1.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) slipped 0.6%. The Vanguard Consumer Staples ETF (VDC) fell 0.8%, and iShares Dow Jones US Consumer Goods (IYK) eased 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 1.2%. VanEck Retail ETF (RTH) fell 1.2%, and the State Street SPDR S&P Retail (XRT) was down 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.6%, iShares US Healthcare (IYH) added 1.6%, and Vanguard Health Care ETF (VHT) was up 1.6%. IShares Biotechnology ETF (IBB) gained 1.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) advanced 2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) lost 1.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 1.4%, ProShares Ether ETF (EETH) was down 1.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.6% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Sectors38d ago

Sector Update: Financial

Financial stocks edged higher in Thursday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) steady.The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.5%.Bitcoin (BTC-USD) was falling 3% to $59,167, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.38%.In corporate news, JPMorgan Chase (JPM) said Thursday that Doug Petno and Troy Rohrbaugh, co-chief executives of JPMorgan's commercial and investment bank, have been named co-presidents of the company, effective immediately. JPMorgan shares were up 0.8%.

$JPM

Oil & Energy38d ago

EMEA Oil Update: Crude Rises as Markets Weigh Demand Outlook Amid Rising Supply

EMEA crude futures climbed in after-hours trading on Thursday as markets shifted focus from supply disruptions to the prospect of a near-term glut, with flows via the Strait of Hormuz showing signs of a steady recovery.Brent crude futures rose by 1.3% to $74.70 per barrel, while Murban crude futures were down 0.9% to $67.11/bbl.Gelber & Associates strategists said crude is attempting to establish a floor in the low-$70s, but sentiment remains cautious amid expectations of ample global supply, which continues to cap upside.The latest shipping data shows that more commercial vessels are transiting the strategic waterway with their satellite signals switched on, with Kpler reporting 70 verified crossings on June 24 since the US and Iran reached an agreement to reopen the waterway.Kpler analysts said that the US-Iran framework and the lifting of the US blockade appear to have provided a short-term confidence boost, although Iran's Islamic Revolutionary Guards warned that using the Omani route could create a new source of contention.The IRGC Navy warned vessels on Wednesday that any new transit route through the Hormuz established without coordination with Tehran is "unacceptable and dangerous." The Revolutionary Guards said that coordination with Iran's Navy is "mandatory" for transit through the strategic waterway.Saxo Bank strategists said the reopening of the Strait has created a short-term wave of supply, pushing prices back towards levels that may prove difficult to sustain once the backlog of stranded barrels has cleared and releases from strategic reserves are scaled back.On the supply front, Iraq wants OPEC to significantly increase its oil supply quota, according to reports on Thursday, as the producer is reportedly considering quitting the group over the dispute.Rystad Energy strategists projected that shut-in production across the Gulf region had fallen to 9.6 million barrels per day in mid-June, down from 11.7 million b/d just three weeks ago.The analysts said the US-Iran peace deal, the US sanctions waiver on Iranian crude exports, and Gulf producers reporting restart timelines ahead of earlier estimates have shifted the supply outlook in quick succession.Meanwhile, US commercial crude oil inventories decreased by 6.1 million barrels to 412.1 mmbbls in the week ended June 19, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories are now about 7% below the five-year average for this time of year, the EIA said.Gelber & Associates said traders are shifting focus to upcoming OPEC+ guidance and US inventory data, both of which could determine whether the recent correction has run its course or if additional downside remains.

Treasury38d ago

US 7-Year Auction High Yield Falls From Previous Month, Demand Lower

The US Treasury's 7-year auction hit a high yield of 4.260% on Thursday, down from the 4.290% high in the previous auction.The bid to cover ratio for the auction was 2.50, below the 2.52 ratio in the previous auction.Dealers represented 55.37% of the bids, with direct bidders at 15.32% and indirect bidders at 29.30%.For takedown, dealers took 12.75%, with direct bidders at 29.70% and indirect bidders at 57.55%.

Wire38d ago

Market Chatter: SpaceX Credit Derivatives Begin Trading After Bond Offering

Space Exploration Technologies (SPCX) credit-default swaps have started actively trading after the company priced its inaugural offering of $25 billion of senior notes, Bloomberg reported Thursday, citing people familiar with the matter.For credit derivatives, bond dealers started transmitting indications of levels at which they would buy and sell protection to investors before the bond sale was disclosed, sources told the media outlet.SpaceX 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: $151.21, Change: $-3.14, Percent Change: -2.03%

$SPCX

US Markets38d ago

First-Quarter GDP Growth Unexpectedly Revised Higher Despite Weak Consumer Spending

The US economy expanded at a faster rate in the first quarter than previously projected even as consumer spending growth decelerated, the Bureau of Economic Analysis' third and final estimate showed Thursday.Real gross domestic product increased at a 2.1% annualized rate in the quarter ended March, up from 1.6% growth reported in the second estimate. The consensus was for the growth rate to be left unrevised in a survey compiled by Bloomberg.The reading marks the fastest growth rate in two quarters and follows a 0.5% expansion in the previous three-month period, according to government data. The GDP upgrade primarily reflects a downward revision to imports.Growth in consumer spending -- as measured by personal consumption expenditures -- was revised down to 0.5% from 1.4% previously reported, though Wall Street expected no change.First-quarter headline PCE inflation was revised up to 4.6% from the prior estimate of 4.5%. Core PCE inflation -- which excludes the volatile food and energy components - was left unchanged at 4.4%, official data showed.The BEA said in a separate report Thursday that consumer spending rose more than projected in May, while the Federal Reserve's preferred inflation metric accelerated to the fastest reading in more than two years."Even though consumer spending rose strongly in May, downward revisions to previous months mean consumer spending is on track for a sub-2% annualized gain in (the second quarter)," Oxford Economics Chief US Economist Michael Pearce said in remarks emailed to. "Fiscal stimulus has helped support spending through the real income shock and with oil prices retreating quickly, we expect spending to recover to a near 2% pace in (the second half)."

Wire38d ago

Microsoft Raises Prices of Xbox Consoles

$MSFT

Treasury38d ago

US 7-Year High Yield 4.260% vs 4.290% Previous; Bid/Cover 2.50 vs 2.52 Previous

Wire38d ago

DPC Holdings Shares Rise 32% in NYSE Debut

DPC Holdings (DPC) shares rose 32% to $43.58 in Thursday trading in their debut on the New York Stock Exchange after an initial public offering raised $919.3 million.The stock opened at $44 and rose as high as $44.49. The IPO price was $33.The company makes engine products for the aerospace industry.Price: $43.58, Change: $+10.58, Percent Change: +32.06%

$DPC

Wire38d ago

Sector Update: Healthcare

Healthcare stocks rose Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 1.6%.The iShares Biotechnology ETF (IBB) advanced 1.3%.In corporate news, Bio-Techne (TECH) shares surged nearly 20% after it said Thursday it has agreed to be acquired by Merck KGaA in an all-cash deal with an enterprise value of about $11.3 billion, as the German drugmaker aims to expand its presence in life sciences markets.

$TECH

Sectors38d ago

Sector Update: Consumer

$DRI

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Oil & Energy38d ago