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China Reportedly Targets 50% Non-Fossil Fuel Power by 2030

China aims to increase its non-fossil fuel energy share to half of its power generation by 2030, up from the 2025 target of 42.3%, according to the country's latest five-year plan for new energy system as cited by multiple media outlets.In line with this, China reportedly targets to increase the share of wind and solar sources to more than 50% of installed capacities by 2030. This compares with the 2025 target of around 47%.The government also aims to install 160 gigawatts of pumped hydro, 300 GW of battery storage capacity, and 50 GW of virtual power plants for demand response by 2030, according to the reports.For renewable hydrogen, China reportedly targets to nearly double the capacities of projects currently online and under construction to 2 million tons by 2030. This is relative to the previous 2025 goal of 100,000 tons to 200,000 tons per year.For fossil fuels, reports said that the country aims to increase natural gas production, while maintaining oil output at around 200 mmt per year.The country reportedly highlighted its goal for coal consumption to peak by 2030, while developing more than 100 mmt per year of production capacity to be tapped when needed.Going forward, China plans to focus on nuclear fusion, space-based power plants, and superconducting transmission.The National Energy Administration did not immediately respond to' request for comment.

Wire38d ago

ZipRecruiter Repurchases $295 Million of Notes due 2030

ZipRecruiter (ZIP) has entered into agreements with some holders of its 5% senior notes due 2030 to repurchase about $295 million of the notes for around $230 million, representing a $65 million discount to par value, the company said Thursday.The repurchases, which are being funded from its balance sheet, are expected to close on a rolling basis through June 30, it said.Following the transactions, approximately $255 million of the notes will remain outstanding from the original $550 million issuance, ZipRecruiter said.Shares of the company were 9.1% higher in early Thursday trading.Price: $3.61, Change: $+0.30, Percent Change: +9.08%

$ZIP

Wire38d ago

Morningstar's PitchBook Expanding AI Integrations With Microsoft 365 Copilot

Morningstar's (MORN) PitchBook said Thursday is it launching a federated Copilot connector with Microsoft (MSFT) to provide private capital market data into Microsoft 365 Copilot, including Copilot in Excel.Users of both Microsoft 365 Copilot and PitchBook will be able to use the PitchBook Copilot agent to get insights, build models, and other tasks, the company said.Financial details were not provided.Price: $151.73, Change: $-1.51, Percent Change: -0.98%

$MORN$MSFT

Wire38d ago

BofA Securities Lifts Price Target on Micron Technology to $1,550 From $1,500, Maintains Buy Rating

Micron Technology (MU) has an average rating of buy and mean price target of $1,436.02, 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: $1221.79, Change: $+173.87, Percent Change: +16.59%

$MU

Wire38d ago

Tetra Tech Won $49 Million Military Contract for Water Infrastructure Services

Tetra Tech (TTEK) said Thursday the Mobile District of the US Army Corps of Engineers has selected the company for a $49 million multiple-award contract to deliver engineering design and technical services.The contract runs for a five-year period to improve civil works infrastructure in the southeastern US region, the company said.The group will provide design and technical work covering navigation channels, flood risk mitigation, and ecosystem rehabilitation projects, Tetra said.The company also said the contract involves delivering similar design services in Central and South America.Shares of Tetra Tech were up more than 1% in recent Thursday trading.Price: $28.87, Change: $+0.29, Percent Change: +1.00%

$TTEK

Wire38d ago

BofA Securities Cuts Price Target on PepsiCo to $164 From $173, Maintains Neutral Rating

PepsiCo (PEP) has an average rating of overweight and mean price target of $168.05, 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: $142.52, Change: $+0.25, Percent Change: +0.18%

$PEP

Sectors38d ago

Gold Edges Up as Dollar Eases Even as US Inflation Accelerates

Gold edged higher early on Thursday as the dollar eased, while a key U.S. inflation measure accelerated last month.Gold for August delivery was last seen up 0.7% to US$4,035.40 after falling to the lowest since Nov. 6 a day earlier.The U.S. Bureau of Economic Analysis on Thursday reported that May personal consumption expenditures index, the Federal Reserve's preferred inflation measure, rose at a 4.1% annualized pace, matching expectations but up from 3.8% in April. Core PCE, excluding volatile items, rose 3.4% annualized, up from 3.3% a month earlier, but again matching expectations.The price of the precious metal is down 12% over the past month, falling as investors turn to the greenback amid inflation concerns. The Fed's policy committee last week warned it may raise interest rates this year to combat rising costs, boosting the dollar and sending traders away from gold, which pays no interest."The latest leg lower has been driven by the dollar's week-long surge, with the greenback posting a fresh 13-month high on Wednesday," Ole Hansen, head of commodity strategy at Saxo Bank, wrote. "It continues to benefit from carryover support following last week's hawkish FOMC message, which revived speculation that U.S. interest rates may need to rise later this year. For non-interest-paying metals, that has lifted the perceived cost of holding exposure at a time when investor confidence is already fragile."However the dollar edged down early, with the ICE dollar index down 0.1 point to 101.29. Treasury yields were little changed, with the U.S. two-year note down 2.7 basis points to 4.131%, while the yield on the 10-year note was steady at 4.391%.

$GCQ6$GLD

Wire38d ago

Boeing to Offer Cyviation's SkyRay for Cyber Risk Assessment Capabilities

Boeing's (BA) Aviation Business Solutions will offer Cyviation's SkyRay platform through SkyGuard to deliver compliance and cyber risk assessment capabilities, Cyviation said Thursday.Financial details of the collaboration were not provided.Cyviation said SkyRay allows aviation operators to assess, manage, and monitor cyber risk across their fleet operations while supporting regulatory compliance.Price: $219.50, Change: $-0.74, Percent Change: -0.34%

$BA

Oil & Energy38d ago

EMEA Natural Gas Update: Futures Slide Amid Strong Recovery in Hormuz Traffic

European natural gas futures were down on Thursday, on strong recovery in flows through the strategically crucial Strait of Hormuz.Front-month Dutch TTF contracts were down 1.48% to 40.270 euros ($45.76) per megawatt hour, while UK NBP futures dropped 1.27% to 95.950 British pence ($1.26) per therm.This comes as supply constraints begin to ease, with 12 vessels transiting through the Strait of Hormuz over the past 24 hours, according to the Hormuz Strait Monitor.At the same time, seven empty Qatar-linked LNG tankers have entered the strategically crucial Strait in recent weeks, signalling a recovery in supplies, according to a Reuters report, citing ship-tracking data.QatarEnergy has also said that it expects a rapid recovery in LNG output once the Strait is safe and navigable, with plans to hit 50% of capacity within a month, and 80% within two months, according to a Bloomberg report, citing people familiar with the matter.While this is expected to ease supply constraints in the near-term, Daniel Hynes, a senior commodity strategist at ANZ, has noted that the two production lines in Qatar, which were damaged by airstrikes in recent months, "will remain offline for the foreseeable future."Besides this, over 1,150 vessels, carrying goods worth an estimated $125 billion and a total volume of 29 million gross tonnage, are still stuck in the Persian Gulf, according to Allianz Commercial. As these vessels begin exiting the troubled Strait, it will lead to more downward pressure on global oil and gas prices.On the other hand, Europe is experiencing a "monstrous Heat Dome," leading to record-high temperatures across several regions, with France and the UK seeing temperatures north of 40 degrees Celsius, according to Severe-Weather EU. This is expected to result in increased air conditioner usage and thus, higher gas-fired power demand.European gas inventories remained depleted at just 47.20% of capacity, down from 56.23% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 61.4%, according to the Swiss Federal Office of Energy.

Wire38d ago

Market Chatter: Blue Owl in Advanced Talks to Buy Stake in NBA's Cleveland Cavaliers

Blue Owl Capital (OWL) is in advanced talks to acquire a minority stake of between 5% and 10% in the National Basketball Association's Cleveland Cavaliers, Bloomberg reported Thursday, citing people familiar with the matter.The deal would occur through Blue Owl's Dyal HomeCourt Partners fund, which has also taken stakes in the NBA's Atlanta Hawks, Sacramento Kings and Minnesota Timberwolves, the report said, citing the people. The Cavs are valued at $3.95 billion, the report said, citing data from Sportico.Blue Owl did not immediately reply 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: $8.55, Change: $+0.07, Percent Change: +0.89%

$OWL

Mining & Metals38d ago

Onex-Led Group Agrees to Acquire AirSprint

Onex (ONEX.TO), through the Onex Partners Opportunities Fund, has agreed to acquire AirSprint, Canada's largest fractional jet operator, alongside TriWest Capital Partners and other co-investors for an undisclosed amount.The airline's founder and board chair Judson Macor, chief executive James Elian and certain of its shareholders will remain investors following the transaction's close, which is expected in the third quarter of this year.Headquartered in Calgary with offices in Toronto and Montreal, AirSprint operates the largest fractional fleet of private aircraft in Canada. The investment will support its next phase of growth.Price: $103.98, Change: $-1.42, Percent Change: -1.35%

$ONEX.TO

Commodities38d ago

Chevron Venezuela Operations Normal After Massive Earthquakes

US energy major Chevron (CVX) has accounted for all of its employees in Venezuela and said operations were normal following massive earthquakes in the country, it said on Thursday.At least 164 people were reportedly killed and almost 1,000 injured following the back-to-back powerful earthquakes in the country, with several buildings collapsing in the capital city, Caracas, according to media reports."As a longtime employer and partner in Venezuela, we stand in solidarity with the country and its people during this difficult time," it said."We remain committed to supporting our employees and the communities surrounding our facilities and ensuring the continued safe operation of our assets," Chevron said in a statement shared with.

$CVX

Sectors38d ago

Sector Update: Energy Stocks Lower Pre-Bell Thursday

Energy stocks were lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) losing 0.4%.The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 2% higher.Front-month US West Texas Intermediate crude oil was down 0.3% to $70.14 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.2% to $73.75 per barrel, and natural gas futures were 2.1% higher at $3.29 per 1 million British Thermal Units.TotalEnergies (TTE) stock was down 0.9% before market open after closing the previous session with a 2% fall. The company said Wednesday it acquired a 10% stake in the Bab Gas Cap Concession in Abu Dhabi, joining an international consortium to develop the major onshore gas field.BP (BP) shares were down 0.7%, extending losses from the 3.7% decline at the prior close. India's state-run ONGC said it signed a technical services contract with BP to boost crude oil and natural gas production across 43 blocks in the country's Western Offshore Basin.Enerflex (EFXT) stock gained 0.5% after the company signed an updated agreement that extends the expiration of its revolving credit facility by three years to mid-2029.

$BP$EFXT$TTE$UNG$USO$XLE

Mining & Metals38d ago

Eastport Critical Metals Appoints Daniel Major as CEO

Eastport Critical Metals (EVI.V) appointed Daniel Major as the company's chief executive, effective July 1, it said in a statement on Thursday.Co-founder and current CEO Burns Singh Tennent-Bhohi, will move to the role of chair of the board, and current chair David Minchin will become co-chair.Major, who has more than 35 years of experience in the industry, currently serves as a non-executive director of Leading Edge Materials (LEM.V).

$EVI.V$LEM.V

US Markets38d ago

Darden Issues Weak Full-Year Earnings Outlook as Fourth-Quarter Sales Miss Views

Darden Restaurants (DRI) issued a full-year earnings outlook below market estimates on Thursday, while the restaurant operator's fiscal fourth-quarter sales fell short of expectations.The Olive Garden and LongHorn Steakhouse parent anticipates per-share earnings from continuing operations to come in between $11.10 and $11.35 for fiscal 2027. The current consensus on FactSet is for EPS of $11.39. In the previous fiscal year, profit increased to $10.44 from $8.88 on an annual basis.Shares of the company were down 3.4% in the most recent premarket activity.Sales are pegged to be in a range of $13.6 billion to $13.75 billion for the ongoing fiscal year, while same-restaurant sales are projected to grow by 2.5% to 3.5%. The Street is looking for sales of $13.71 billion and same-store sales to increase by 2.9%.In fiscal 2026, sales improved 9.4% to $13.21 billion and same-restaurant sales inclined 4.5%.For the three months through May, Darden's sales rose to $3.72 billion from $3.27 billion the year before, but were just shy of the average analyst estimate of $3.73 billion. Same-restaurant sales advanced 4.6%, ahead of the market's forecast for growth of 4.2%.Same-restaurant sales increased 2.4% for Olive Garden and 9.5% at LongHorn Steakhouse. The fine dining segment moved 1.9% higher."The fourth quarter was a strong finish to an excellent year, one in which we significantly outperformed the industry," Chief Executive Rick Cardenas said in a statement. "Our restaurant teams continued to execute at a high level and that consistent execution helped each of our brands deliver positive same-restaurant sales for the quarter."Adjusted EPS from continuing operations jumped 23% year over year to $3.66 in the fourth quarter, exceeding the Street's view for $3.63. The result excluded a $0.12 headwind mainly related to restaurant closures and the integration of Tex-Mex restaurant chain Chuy's, according to the company."I am confident we are well positioned to continue growing the business and creating long-term shareholder value," Cardenas said.

$DRI

Oil & Energy38d ago

US Oil Update: Crude Erases War Premium as Traffic Through Hormuz Continues to Regain Momentum

Oil futures tumbled to pre-war lows as traffic resumed through the Strait of Hormuz, easing the supply anxieties in a market struggling with fuel availability since the war started.Front-month West Texas Intermediate crude futures tumbled nearly 1% to $69.84 per barrel, while Brent futures were down 0.8% to $73.18/bbl. Both contracts hit their lowest since late-February."Oil prices have continued to decline after it is reported that more tankers have been able to pass through the Strait of Hormuz and are thus back at the level just before the war in Iran broke out," SEB analysts noted.Kpler reported that an average of 26 commodity ships now pass through the Strait of Hormuz daily. While this marks a significant recovery, traffic still lags far behind the pre-war average of 88 ships per day.About 1,150 vessels, with an estimated vessel and cargo value of $125 billion and a total volume of 29 million gross tonnage, are currently stuck in the Persian Gulf, awaiting clearance to resume transit following the US-Iran deal, Allianz Commercial said on Wednesday.Amid these developments, US President Donald Trump reportedly said that negotiations are progressing, while firmly warning that the US will not tolerate any transit fees imposed on vessels using the waterway.Meanwhile, a joint coalition with US, Qatar, Nigeria, and Algeria has urged the European Union to freeze its impending methane regulations in an open letter on Wednesday, noting that nearly all EU oil imports and a significant portion of natural gas imports will fail compliance metrics by the January 2027 deadline.On the supply side, US commercial crude oil inventories fell by 6.1 million barrels during the week ended June 19, the Energy Information Administration said on Wednesday.

Sectors39d ago

Sector Update: Financial Stocks Higher Pre-Bell Thursday

Financial stocks were higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) gained 0.4%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.Barclays (BCS) shares traded up 2.5% after the company said the projected capital ratios for its US business remained above the regulatory minimum levels across all nine quarters of the Federal Reserve's stress test.Nomura (NMR) shares rose 2.9% after Nikkei Asia reported that Circle Internet Group (CRCL), the company behind the USDC stablecoin, is planning to work with Nomura to launch instant foreign-exchange settlement services for Japanese businesses as early as 2027. Circle Internet stock rose 0.9% in premarket activity.

$BCS$CRCL$FAS$FAZ$NMR$XLF

Sectors39d ago

Sector Update: Health Care Stocks Mixed Pre-Bell Thursday

Healthcare stocks were mixed premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) retreating by 0.2% and the iShares Biotechnology ETF (IBB) advancing 0.1%.Bio-Techne (TECH) stock rose more than 20% premarket after the company signed a definitive agreement to be acquired by Germany's Merck KGaA for $73 a share, representing an enterprise value of $11.3 billion.RadNet's (RDNT) shares were down 1.8% pre-bell after rising 3.5% at the prior close. The company's DeepHealth unit said it received FDA 510(k) clearance for two breast imaging AI tools, including a breast arterial calcification assessment and prior exam integration for its ProFound Pro platform.Taysha Gene Therapies (TSHA) stock lost more than 9% after the company priced an underwritten public offering of 32.5 million shares at $6.00 each and pre-funded warrants to purchase 833,333 shares at $5.999 each.

$IBB$RDNT$TECH$TSHA$XLV

Sectors39d ago

Sector Update: Tech Stocks Advancing Pre-Bell Thursday

Technology stocks were advancing pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) gaining by 3% and the State Street SPDR S&P Semiconductor ETF (XSD) 4.7% higher.Micron Technology (MU) shares were up over 17% in recent premarket activity after the company late Wednesday reported a fiscal Q3 earnings and revenue beat, and its guidance for the next quarter also came in above market expectations.ARM (ARM) shares were up more than 6% before the bell after Nikkei Asia reported, citing a senior executive, that the company's chip architecture now accounts for more than half of the hyperscale cloud-computing market.IBM (IBM) stock gained more than 2% pre-bell after the company said it has created what it calls the "world's first sub-1 nanometer chip technology."

$ARM$IBM$MU$XLK$XSD

Sectors39d ago

Sector Update: Consumer Stocks Declining Pre-Bell Thursday

Consumer stocks were declining premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) retreating 0.3%.Trip.com (TCOM) shares were down more than 12% pre-bell after the company reported lower Q1 non-GAAP earnings.Darden Restaurants (DRI) stock lost more than 3% after the restaurant operator reported lower-than-expected fiscal Q4 sales.Dollar Tree (DLTR) shares declined by 4.4% after the company said that several investment funds tied to Mantle Ridge are executing a secondary block trade to sell 12.8 million common shares.

$DLTR$DRI$TCOM$XLP$XLY

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Oil & Energy38d ago