Ermin Okeric/iStock via Getty Images Shares of PPG Industries rose about 6% in premarket trading Thursday, as investors reacted to a trio of announcements spanning pricing, earnings momentum and strategic expansion. The coatings maker on Wednesday said it will raise prices by as much as 20% across its global portfolio of paints, coatings and specialty products, citing sharp increases in raw materi...
Ermin Okeric/iStock via Getty Images Shares of PPG Industries rose about 6% in premarket trading Thursday, as investors reacted to a trio of announcements spanning pricing, earnings momentum and strategic expansion. The coatings maker on Wednesday said it will raise prices by as much as 20% across its global portfolio of paints, coatings and specialty products, citing sharp increases in raw materials, energy, logistics and packaging costs. The adjustments will be implemented on a customer-by-customer basis as contracts allow, with the possibility of further increases if cost pressures persist. Chief executive Tim Knavish in a statement said the move is aimed at preserving supply reliability and service levels amid volatile global markets. For investors, the updates signal that PPG Industries is actively protecting margins through aggressive pricing while still delivering steady organic growth, a combination that suggests resilience in an inflationary and volatile cost environment. The acquisition and continued demand in key segments also reinforce the company’s longer-term growth strategy, indicating it can both defend profitability now and expand its market position over time. Preliminary Q1 results Separately, the company reported preliminary first-quarter results showing earnings per share of $1.70 and adjusted earnings per share of $1.83, up 6% from a year earlier, and compared with the consensus estimate of $1.70. PPG ( PPG ) pointed to its fifth straight quarter of organic sales growth, supported by higher pricing and steady volumes, with strength in its Latin America architectural coatings and aerospace segments helping lift margins. Looking ahead, the company expects second-quarter organic sales and adjusted earnings to be flat to up modestly year over year. Full first-quarter results are scheduled for release on April 28. Acquisition in traffic solutions PPG ( PPG ) also said it completed the $65 million all-cash acquisition of Ozark Materials, a North Amer...
"The Roaring 2020s Are Back": S&P Futures Hit New Record With Nasdaq Up 12 Straight Days On Iran Truce Optimism Stock futures are edging higher on continued optimism about an extended truce in the Middle East, while Taiwan Semi's solid results have sparked another leg higher in AI trade. As of 8:15 am ET, S&P 500 futures rose 0.1%, while Nasdaq 100 contracts +0.2%, and on pace for a 12th day of ga...
"The Roaring 2020s Are Back": S&P Futures Hit New Record With Nasdaq Up 12 Straight Days On Iran Truce Optimism Stock futures are edging higher on continued optimism about an extended truce in the Middle East, while Taiwan Semi's solid results have sparked another leg higher in AI trade. As of 8:15 am ET, S&P 500 futures rose 0.1%, while Nasdaq 100 contracts +0.2%, and on pace for a 12th day of gains. The early hours of the session saw a sharp rally in technology stocks after TSMC's upbeat revenue outlook highlighted the resilience of AI chip demand. In premarket trading, Mag 7 stocks were mostly higher led by MSFT +1.8% and TSLA +1.3%. On geopolitical headlines, the White House remains optimistic on the second round of talk (key Pakistani negotiator visits Tehran); Israel’s security cabinet met to discuss a possible ceasefire. Bond yields are 0-2bp lower with a modest gain in the dollar. Brent rose toward $96 a barrel as movements through the Strait of Hormuz remained all but paralyzed. Bonds rose, led by gains in Europe where central bank policymakers signaled they’re in no rush to raise interest rates. The dollar snapped an eight-day losing streak while gold rose above $4,800 an ounce. April’s strong stock rebound is being driven by a new kind of FOMO, according to Ed Yardeni, with Goldman saying that "d espite the sharp market rebound, positioning has not fully caught up." Still, while equities are “definitely pricing” the end of the war, we are “not there yet,” cautioned HSBC’s Patrick George while the IMF and World Bank are also worried that markets are underestimating the war’s economic damage. Today's US economic data calendar includes April New York Fed services business activity, Philadelphia Fed business outlook, weekly jobless claims (8:30am) and March industrial production (9:15am). Fed speaker slate includes Williams (8:35am) and Miran (10:35am) In premarket trading, Mag 7 stocks are mixed: Microsoft +1.3%, Tesla +0.7%, Meta Platforms +0.5%, Nvidia -0....
photoman Wall Street’s largest banks kicked off the year with a surge in trading activity, delivering a record-setting performance that underscores the strength of market volatility and client demand. Combined trading revenue across the six biggest U.S. banks reached roughly $45B in the first quarter, marking a 17% increase from the same period a year ago. The gains were driven by robust performan...
photoman Wall Street’s largest banks kicked off the year with a surge in trading activity, delivering a record-setting performance that underscores the strength of market volatility and client demand. Combined trading revenue across the six biggest U.S. banks reached roughly $45B in the first quarter, marking a 17% increase from the same period a year ago. The gains were driven by robust performance across fixed income, currencies, commodities, and equities desks, as shifting rate expectations and active institutional positioning fueled volumes. This momentum comes as banks continue to benefit from a more dynamic macro environment compared to the subdued conditions seen in prior years. Investors have responded enthusiastically. Bank stocks have posted significant advances over the past 12 months, with Citigroup ( C ) leading the group at a 110% gain. Goldman Sachs ( GS ) and Morgan Stanley ( MS ) followed with increases of 81% and 78%, respectively, while Bank of America ( BAC ) rose 46%. JPMorgan Chase ( JPM ) and Wells Fargo (WGC) also delivered solid returns, climbing 34% and 27%. The strong results reinforce trading as a key earnings engine for large banks in today’s market landscape. Bank ETFs: ( KBWB ), ( KBE ), and ( FTXO ). Regional Bank ETFs: ( KRE ), ( IAT ), and ( DPST ). Financials ETFs: ( XLF ), ( VFH ), ( IYF ), ( FNCL ), ( IYG ), and ( FXO ). S&P 500 Funds: ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( FXAIX ), ( VFIAX ), ( VFFSX ), and ( SWPPX ). More on markets Narrow tech rally powers market higher despite weak breadth Artificial Intelligence boom redefines corporate debt markets, Apollo says S&P 500 returns to positive territory and erases Middle East conflict losses Geopolitical conflicts overshadow inflation as the top market threat, according to BofA Only 50/50 odds that the Strait of Hormuz normalizes by July according to prediction markets
watch now VIDEO 2:58 02:58 New York Fed President Williams worries war will slow growth, aggravate inflation Squawk Box New York Fed President John Williams expressed concern Thursday about the Iran war's impact on the economy, saying it already has shown signs of hiking prices and slowing growth. In a speech delivered to bankers in his home district, Williams noted that the conflict has "intensif...
watch now VIDEO 2:58 02:58 New York Fed President Williams worries war will slow growth, aggravate inflation Squawk Box New York Fed President John Williams expressed concern Thursday about the Iran war's impact on the economy, saying it already has shown signs of hiking prices and slowing growth. In a speech delivered to bankers in his home district, Williams noted that the conflict has "intensified the uncertainty" around national and local conditions. While he generally expressed confidence that growth would continue and inflation would ease through the year, he said there are threats to both sides of the Fed's dual mandate for stable prices and low unemployment. "Assuming energy supply disruptions ease reasonably soon, energy prices should come down, and these effects should partially reverse later this year," Williams said. "However, the conflict could also result in a large supply shock with pronounced effects that simultaneously raises inflation — through a surge in intermediate costs and commodity prices — and dampens economic activity. This has begun to play out already." Such a condition — slow growth and high prices — is commonly referred to as stagflation and presents a toxic mix for central bank policymakers who would be left to choose which side to prioritize. Fed Chair Jerome Powell recently rejected that characterization for the U.S. economy, but Williams' comments indicate that it remains a concern for policymakers, if in a reduced sense from the severe episode prevalent in the late 1970s and early '80s. Williams pointed out there have been "increasing disruptions" in supply chains specifically concerning energy and related goods. The New York Fed's own Global Supply Chain Pressure Index showed that conditions in March were the most strained since early 2023. "Not only are elevated energy prices showing up in the rising cost of fuel, but there are also pass-through costs in the form of higher airfares, groceries, fertilizer, and other consumer produ...
Geiger Energy ( BEEP:CA )( OTCQB: BSENF ) on Thursday said that it plans to raise between C$4 million and C$7 million through a marketed public offering and a concurrent private placement, with potential proceeds rising to about C$8.05 million if options are fully exercised. The public offering will include units priced at C$0.22 each and flow-through units priced between C$0.30 and C$0.325, while...
Geiger Energy ( BEEP:CA )( OTCQB: BSENF ) on Thursday said that it plans to raise between C$4 million and C$7 million through a marketed public offering and a concurrent private placement, with potential proceeds rising to about C$8.05 million if options are fully exercised. The public offering will include units priced at C$0.22 each and flow-through units priced between C$0.30 and C$0.325, while the private placement will consist of flow-through shares priced at C$0.25. Proceeds will be used to fund exploration activities in the Thelon Basin in Nunavut and the Athabasca Basin in northern Saskatchewan, as well as for general working capital. The offering is expected to close on or around May 7, subject to regulatory approvals, including clearance from the TSX Venture Exchange. BSENF closed +1.10% at $0.1921. Source: Press Release More on Geiger Energy Corporation Financial information for Geiger Energy Corporation
CoreWeave Inc. is tapping the US junk-bond market for a second time in a week as the cloud infrastructure firm seizes on strong investor demand. The Livingston, New Jersey-based company is selling $1 billion of additional 9.75% senior notes due 2031, it said in a statement . Proceeds will repay outstanding debt among other corporate uses, it added. The debt is being pitched at a price of 101.5 to ...
CoreWeave Inc. is tapping the US junk-bond market for a second time in a week as the cloud infrastructure firm seizes on strong investor demand. The Livingston, New Jersey-based company is selling $1 billion of additional 9.75% senior notes due 2031, it said in a statement . Proceeds will repay outstanding debt among other corporate uses, it added. The debt is being pitched at a price of 101.5 to 102 cents on dollar, and may be sold as soon as Thursday, according to a person with knowledge of the matter. The offering is being run by JPMorgan Chase & Co. , Morgan Stanley and Goldman Sachs Group Inc. , the person added, asking not to be identified because details are private. The move comes a week after CoreWeave raised $1.75 billion in its initial 2031 notes offering , amid relentless investor appetite for debt tied to the artificial intelligence boom. Those bonds have since rallied to more than 102 cents, according to Trace pricing data, having priced at par. CoreWeave, which rents access to high-end AI processors, has been tapping different corners of credit markets to help finance an aggressive expansion of its cloud computing capacity. Its capital needs have increased after signing a $21 billion deal last week to supply AI cloud capacity to Meta Platforms Inc. , adding to an earlier $14.2 billion agreement. Wall Street has been able to successfully stitch together tens of billions of dollars in funding to underpin the AI boom in recent weeks, even as the conflict in the Middle East led some borrowers to pause debt sales. Read More: AI Juggernaut Rumbles on Even as Markets Whipsaw: Credit Weekly As optimism about a longer-term peace deal rises, borrowing costs have eased broadly for companies of all types — bringing with it a revival in issuance. Data centers linked to Alphabet Inc. ’s Google are also seeking to raise $5.7 billion from a junk-bond transaction, in what would be the largest deal of its kind to finance the AI buildout frenzy. That deal, led by Morgan...
(Bloomberg) -- CoreWeave Inc. is tapping the US junk-bond market for a second time in a week as the cloud infrastructure firm seizes on strong investor demand.The Livingston, New Jersey-based company is selling $1 billion of additional 9.75% senior notes due 2031, it said in a statement. Proceeds will repay outstanding debt among other corporate uses, it added. The debt is being pitched at a price...
(Bloomberg) -- CoreWeave Inc. is tapping the US junk-bond market for a second time in a week as the cloud infrastructure firm seizes on strong investor demand.The Livingston, New Jersey-based company is selling $1 billion of additional 9.75% senior notes due 2031, it said in a statement. Proceeds will repay outstanding debt among other corporate uses, it added. The debt is being pitched at a price of 101.5 to 102 cents on dollar, and may be sold as soon as Thursday, according to a person with kn
Abstract Aerial Art/DigitalVision via Getty Images Harbour Energy ( PMOIF )( HBRIY ) made a big acquisition covered in the last article that closed in February. One thing about investment grade ideas is that these companies tend to get unusually lucky when it comes to making a leveraged deal. In this case, more than two billion dollars of debt was part of the deal. But the Iranian situation is mak...
Abstract Aerial Art/DigitalVision via Getty Images Harbour Energy ( PMOIF )( HBRIY ) made a big acquisition covered in the last article that closed in February. One thing about investment grade ideas is that these companies tend to get unusually lucky when it comes to making a leveraged deal. In this case, more than two billion dollars of debt was part of the deal. But the Iranian situation is making this additional leverage look like a brilliant move. The company is now in an excellent position (despite hedging) to use the extra cash flow resulting from high commodity prices to repay the debt that resulted from the acquisition. It should also be noted that many acquisitions have a significant amount of one-time (and optimization) costs. This company may well have extra downside protection when the time comes for commodity prices to retreat thanks to that extra debt (that is likely to get repaid at least somewhat early). It also mitigates that the company was disclosing a negative outlook from most of the rating firms due to the additional debt obtained through the acquisition. This is one of the very few times that the additional debt taken on to complete the merger happens to be a big plus. As a result, that negative outlook is likely to get quickly removed as part of the debt rating. Rising commodity prices often have an outsized effect on earnings because the extra money obtained from rising commodity prices often heads to the bottom line with few deductions. The costs were already paid for (so to speak) when commodity prices were lower. So, there are not all that many additional costs when commodity prices rise. There is some reduction in exposure due to the hedging. But I have yet to see a company that hedges more than 80% of its production. That does leave some exposure to commodity price fluctuations no matter the hedging program. Acquisitions The company has one additional smaller acquisition to complete that will liberate a fair amount of tax losses that t...
One of the great Bollywood singers whose thousands of songs ranged from ghazals to dance tunes and pop Asha Bhosle, who has died aged 92, was the best-known singer in India , an extraordinary artist whose career spanned over eight decades, during which she recorded about 12,000 songs. She first became famous as a playback singer – recording songs that would then be lip-synced by actors in Bollywoo...
One of the great Bollywood singers whose thousands of songs ranged from ghazals to dance tunes and pop Asha Bhosle, who has died aged 92, was the best-known singer in India , an extraordinary artist whose career spanned over eight decades, during which she recorded about 12,000 songs. She first became famous as a playback singer – recording songs that would then be lip-synced by actors in Bollywood movies. Though she was not on screen, her voice made her even more celebrated than those pretending to sing her songs. She also recorded extensively under her own name, and after establishing her reputation in Asia became known to western audiences first through Brimful of Asha, the 1997 tribute song by Cornershop, and then through her collaborations with musicians as varied as Boy George, Kronos Quartet and, most recently, Gorillaz. Continue reading...
Galeanu Mihai/iStock via Getty Images The Dollar Index ( DXY ) did not snap its losing streak yesterday but extended it for its eighth consecutive session to match the longest downdraft since April 2011. The streak may end today if the dollar’s gains are sustained. Despite stronger-than-expected UK (and China) GDP figures and a solid Australian jobs report, the greenback is trading firmer against ...
Galeanu Mihai/iStock via Getty Images The Dollar Index ( DXY ) did not snap its losing streak yesterday but extended it for its eighth consecutive session to match the longest downdraft since April 2011. The streak may end today if the dollar’s gains are sustained. Despite stronger-than-expected UK (and China) GDP figures and a solid Australian jobs report, the greenback is trading firmer against most of the G10 and emerging market currencies. Risk appetites seem intact, with the Nikkei following the US S&P 500 and Nasdaq to record highs. A possible two-week extension in the US-Iran ceasefire may have helped sentiment. However, with the blockade of Iranian ports in place, some projections show storage capacity would be exhausted in two weeks. The two-week extension would add pressure on Tehran. Meanwhile, President Trump indicated that the investigation into the Federal Reserve will continue, and he accepted that this could delay the confirmation of Kevin Warsh to succeed Powell. What happens if the confirmation is not complete by the time Powell’s term as chair is over is not immediately clear, but the president’s threat to fire Powell has been noted but apparently ignore. Prices G10 • The euro did not trade below $1.1770 yesterday and spent much of the North American afternoon straddling the $1.1800 area. It reached almost $1.1825, which corresponds to the (61.8%) retracement target of the euro’s decline since the last January high (~$1.2080). It was greeted by sellers, who pushed it back to almost $1.1770. Initial support is near yesterday’s low and then $1.1755. • The dollar held above Monday’s low (~JPY158.60) against the yen yesterday but stalled in front of the 20-day moving average that was found slightly below JPY159.20. It was sold to a six-day low near JPY158.25 initially, seemingly encouraged by implied threat by Japan’s Finance Minister Katayama, who, after meeting with US Treasury Secretary Bessent, said officials were prepared to take “bold action” to...
(RTTNews) - NetApp Inc. (NTAP) on Thursday said it has expanded its partnership with Google Cloud through a four-year enterprise agreement to accelerate deployment of its storage solutions within Google Distributed Cloud's air-gapped environments.
(RTTNews) - NetApp Inc. (NTAP) on Thursday said it has expanded its partnership with Google Cloud through a four-year enterprise agreement to accelerate deployment of its storage solutions within Google Distributed Cloud's air-gapped environments.
buradaki/iStock via Getty Images Investment Thesis Following my last coverage , AST SpaceMobile ( ASTS ) is up 10%, and the move feels like the market is starting to align with my thesis, not fully, but directionally. I don’t see this as a peak; if anything, it reinforces my conviction. The key drivers behind my investment thesis, including backlog visibility, strong liquidity, and a well-defined ...
buradaki/iStock via Getty Images Investment Thesis Following my last coverage , AST SpaceMobile ( ASTS ) is up 10%, and the move feels like the market is starting to align with my thesis, not fully, but directionally. I don’t see this as a peak; if anything, it reinforces my conviction. The key drivers behind my investment thesis, including backlog visibility, strong liquidity, and a well-defined revenue ramp-up, not only have proven to be accurate but are now closer to materializing. Liquidity and Backlog Secure Path to $1 Billion Topline by FY27 In my view, AST SpaceMobile holds a contracted revenue pipeline with a completely funded balance sheet. This is forming a primary catalyst for forward financials. AST SpaceMobile shifted into a top-line-generating entity in FY25, recording $70.9 million in top line. AST SpaceMobile’s management projects $150 million~$200 million for FY26 and scaling toward $1 billion by FY27. This top-line expansion is based on a $1.2 billion contracted backlog. Further, AST SpaceMobile secures cash inflows before network activation, as evidenced by a $175 million prepayment from stc Group. The company integrates infrastructure manufacturing with direct-to-device cellular broadband delivery. Thus, the proposed vertically integrated manufacturing approach aims to manufacture six satellites every month in H1-FY26. The approximate unit cost of Block 2 BlueBird satellites is between $21 million and $23 million. Here, controlling 95% of manufacturing internally limits external supply chain delays. I believe that delivering multiple payload requirements on a single satellite platform captures dual-use applications across commercial and government markets. Here, Space Development Agency awards and the Golden Dome project contracts may continue to boost the base commercial top line. Q4 Earnings Further, the gross margin structure is important in the creation of cash flow. The gross margin structure for AST SpaceMobile is estimated to be about 90% ...
(RTTNews) - Slightly higher TSX futures and commodity prices point to a marginally positive start for Canadian stocks on Thursday. Expectations of U.S. and Iran agreeing on a peace deal this week may also support the market.
(RTTNews) - Slightly higher TSX futures and commodity prices point to a marginally positive start for Canadian stocks on Thursday. Expectations of U.S. and Iran agreeing on a peace deal this week may also support the market.