Joaquin Corbalan/iStock via Getty Images USA Rare Earth ( USAR ) up 4.5% pre-market Wednesday after announcing definitive agreements with the U.S. Department of Commerce unlocking access to as much as $1.6B in funding under the department's CHIPS program, establishing the framework under which it will continue to build out its integrated heavy rare earth mining, metal, and magnet global value chai...
Joaquin Corbalan/iStock via Getty Images USA Rare Earth ( USAR ) up 4.5% pre-market Wednesday after announcing definitive agreements with the U.S. Department of Commerce unlocking access to as much as $1.6B in funding under the department's CHIPS program, establishing the framework under which it will continue to build out its integrated heavy rare earth mining, metal, and magnet global value chain. The agreements comprise up to $277M in federal funding and up to $1.3B in senior secured loan capacity under the CHIPS Act, with disbursements tied to the achievement of project milestones. Combined with the $1.5B private capital raise completed in January and previous capital raises, the agreements bring total committed capital supporting USA Rare Earth's ( USAR ) growth plan to ~$3.5B. Specifically, the agreements will support de velopment of the Round Top heavy rare earth and critical mineral deposit in Texas , targeted to begin commercial production in 2028; processing and separation of the output from Round Top, including heavy rare earth element and critical mineral oxides and concentrates; reshoring of 10K tons/year of heavy rare earth element metal- and alloy-making and strip-casting capacity; and the s caling of NdFeB magnet manufacturing capacity in Oklahoma and South Carolina to 10K tons/year. As part of the agreement with the Commerce Department, USA Rare Earth ( USAR ) will issue 16.1M common shares and 17.6M warrants to the DoC. More on USA Rare Earth USA Rare Earth Presents at 46th Annual William Blair Growth Stock Conference - Slideshow USA Rare Earth - Strategic Importance Does Not Guarantee Attractive Equity Returns USA Rare Earth Q1 2026 Earnings Call Presentation
My top 10 things to watch Wednesday, June 3 1. Stocks are little changed this morning after the S & P 500 's record high yesterday. The market is being held back by Iran and tariff uncertainties. The U.S. and Iran traded fresh airstrikes even as President Donald Trump said peace talks were ongoing . The White House proposed tariffs on 60 economies over forced labor trade practices, pivoting its ap...
My top 10 things to watch Wednesday, June 3 1. Stocks are little changed this morning after the S & P 500 's record high yesterday. The market is being held back by Iran and tariff uncertainties. The U.S. and Iran traded fresh airstrikes even as President Donald Trump said peace talks were ongoing . The White House proposed tariffs on 60 economies over forced labor trade practices, pivoting its approach after the Supreme Court struck down previous levies. Plus, ahead of Friday's jobs report, ADP said private-sector employment growth was stronger than expected in May. 2. Same old situation with Club name Palo Alto Networks after earnings. Stock comes in hot, everyone likes the quarter, and it initially trades up big. Then there is an odd re-think, and it comes down. Very silly considering the cybersecurity risks created by artificial intelligence. CEO Nikesh Arora has made that clear , and Cisco CEO Chuck Robbins outlined a similar threat analysis on "Mad Money" last night. We raised our price target on Palo Alto for the Club. 3. Ulta Beauty delivered solid 5.3% same-store sales growth in the first quarter, with a slight revenue beat. Earnings of $7.74 a share comfortably topped estimates. Big theme on the conference call: shoppers want value. Ulta said it has multiple levers to meet that need. Also, its first-ever TikTok shoppable livestream drove excitement. This stock is down big from its February highs. Barclays lowered its price target to $647 from $712. 4. Quite the call here: Oppenheimer downgraded AT & T to hold from buy on concerns that long-term broadband subscriber growth will be threatened by satellite internet competition. SpaceX's Starlink, anyone. Analysts said the mobile business could eventually be at risk, too. Club name Amazon is nearing the launch of a Starlink rival service called Leo. 5. Signet Jewelers : Is this an overlooked star of earnings season? CEO J.K. Symancyk was on "Mad Money" last night. Signet raised its full-year guide. It's phasin...
A Vedanta Resources Ltd. unit has applied to sell its shares in New York as part of efforts to raise money for the Zambian copper mining complex it owns. CopperTech Metals Inc. was established last year as Vedanta pivoted to the US to mobilize funds for the group’s Konkola Copper Mines business. Vedanta – owned by Indian billionaire Anil Agarwal – regained control of its 80% stake in KCM during 20...
A Vedanta Resources Ltd. unit has applied to sell its shares in New York as part of efforts to raise money for the Zambian copper mining complex it owns. CopperTech Metals Inc. was established last year as Vedanta pivoted to the US to mobilize funds for the group’s Konkola Copper Mines business. Vedanta – owned by Indian billionaire Anil Agarwal – regained control of its 80% stake in KCM during 2024 after resolving a long-running dispute with the Zambian government, partly by agreeing to loan $1 billion to the mining company over five years. About a third of that amount has already been funded and CopperTech will allocate $670 million from the proceeds of the New York Stock Exchange offering to cover the outstanding balance, according to a prospectus published on June 2. The document didn’t disclose how many shares will be made available, or how much CopperTech hopes to raise. The share sale comes after President Donald Trump ’s administration prioritized shoring up access to critical minerals, encouraging both greater domestic production and overseas supply deals. Vedanta’s Zambian mines are “one of the few operations positioned to help meet US demand for copper,” Delaware-registered CopperTech said in the prospectus. The company said it is placed “to capitalize on what we believe will be an unprecedented copper demand cycle.” Read more: Vedanta Pays $246 Million to Regain Zambia Copper Mines KCM plans to spend $2.7 billion by early next decade and aims to more than double copper output to 270,000 tons a year, with a third of that volume due to come from smelting metal supplied from other mines, the prospectus said. The funds from the offering will be applied toward completing the underground Konkola Deep operation, which is crucial to the company’s prospects of hitting the ambitious growth target, the prospectus said. Mining executives are increasingly focused on copper in anticipation that supply will struggle to keep pace with rising demand from electric vehicle...
SHANGHAI and SHENZHEN, China, June 03, 2026 (GLOBE NEWSWIRE) -- WeRide (NASDAQ: WRD, HKEX: 0800), a global leader in autonomous driving technology, today announced its inclusion in the Hong Kong Stock Connect eligible securities list, effective June 4. The move enables eligible mainland China investors to trade WeRide shares listed on the Hong Kong Stock Exchange through the Hong Kong Stock Connec...
SHANGHAI and SHENZHEN, China, June 03, 2026 (GLOBE NEWSWIRE) -- WeRide (NASDAQ: WRD, HKEX: 0800), a global leader in autonomous driving technology, today announced its inclusion in the Hong Kong Stock Connect eligible securities list, effective June 4. The move enables eligible mainland China investors to trade WeRide shares listed on the Hong Kong Stock Exchange through the Hong Kong Stock Connect program. Shanghai Stock Exchange notice on the inclusion of WeRide under the Hong Kong Stock Conne
Every year in late June, the largest U.S. banks get the results of their stress tests, which are designed by the Federal Reserve to determine the capital strength of a bank in the event of a recession or some other economic shock or stress. The tests were put in place via the Dodd-Frank bill following the 2007-2009 financial crisis to make sure that banks could navigate a similar economic meltdown...
Every year in late June, the largest U.S. banks get the results of their stress tests, which are designed by the Federal Reserve to determine the capital strength of a bank in the event of a recession or some other economic shock or stress. The tests were put in place via the Dodd-Frank bill following the 2007-2009 financial crisis to make sure that banks could navigate a similar economic meltdown. The results of the tests determine how much of a capital buffer that banks should build into their finances -- called the stress capital buffer. Continue reading
luechai/iStock via Getty Images PAPI strategy The Parametric Equity Premium Income ETF ( PAPI ) is an actively managed equity buy-write ETF launched on October 16, 2023, with a 12-month distribution yield of 7.61% and an expense ratio of 0.29%. Distributions are paid on a monthly basis. As described in the prospectus by Morgan Stanley , the fund primarily invests in dividend-paying stocks of the R...
luechai/iStock via Getty Images PAPI strategy The Parametric Equity Premium Income ETF ( PAPI ) is an actively managed equity buy-write ETF launched on October 16, 2023, with a 12-month distribution yield of 7.61% and an expense ratio of 0.29%. Distributions are paid on a monthly basis. As described in the prospectus by Morgan Stanley , the fund primarily invests in dividend-paying stocks of the Russell 3000 Index and sells (“writes”) out-of-the-money call options on the SPDR S&P 500 ETF Trust ( SPY ) or on the S&P 500 Index. Stocks are selected with a rules-based process emphasizing high current income and lower levels of risk on a sector relative basis. The fund intends to maintain broad diversification with an equal-weight methodology at both sector and equity levels. The portfolio’s turnover rate was 27% in the most recent fiscal year. Such a buy-write strategy enhances income with option premium, and also limits the gains from the equity portfolio. It is expected to outperform the stock portfolio in flat or declining markets, and underperform it in rising markets. The fund uses the Russell 1000 Value Index as a benchmark, represented in this article by the iShares Russell 1000 Value ETF ( IWD ). Portfolio The fund holds 189 stocks, mostly of U.S. companies (98% of asset value), and three short positions in SPY calls laddered on expiration dates within the next two weeks. Company-specific risk is very low: the top 10 stock holdings, listed below, represent only 7.4% of asset value and the largest position weighs 0.82%. TICKER NAME SECTOR %WEIGHT SNX TD SYNNEX CORP Information Technology 0.82 CSCO CISCO SYSTEMS INC Information Technology 0.80 HPQ HP INC Information Technology 0.75 IBM INTERNATIONAL BUSINESS Information Technology 0.74 QCOM QUALCOMM INC Information Technology 0.72 POWI POWER INTEGRATIONS INC Information Technology 0.72 RPRX ROYALTY PHARMA PLC Health Care 0.72 GLW CORNING INC Information Technology 0.71 TXN TEXAS INSTRUMENTS INC Information Technol...
LIXTE Biotechnology Holdings ( NASDAQ: LIXT ) on Wednesday said it entered into definitive agreements with accredited investors for a registered direct offering expected to raise approximately $16.6 million in gross proceeds. The offering consists of 2.63 million shares of common stock and pre-funded warrants, priced at $6.31 per share and $6.3099 per pre-funded warrant. The pre-funded warrants ar...
LIXTE Biotechnology Holdings ( NASDAQ: LIXT ) on Wednesday said it entered into definitive agreements with accredited investors for a registered direct offering expected to raise approximately $16.6 million in gross proceeds. The offering consists of 2.63 million shares of common stock and pre-funded warrants, priced at $6.31 per share and $6.3099 per pre-funded warrant. The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per share and remain exercisable until fully exercised. LIXTE said the transaction is expected to close on or about June 3, subject to customary closing conditions. The company plans to use the net proceeds, together with existing cash, for general corporate purposes, working capital, and strategic initiatives. Source: Press Release More on Lixte Biotechnology Holdings, Inc. Financial information for Lixte Biotechnology Holdings, Inc.
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look Trump’s trade war 2.0, and my colleague Saritha Rai examines how India can chart its own AI path. Here We G...
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look Trump’s trade war 2.0, and my colleague Saritha Rai examines how India can chart its own AI path. Here We Go Again... President Trump’s trade war is back even as India’s negotiating leverage has diminished. That said, this proposed new 12.5% tariff is less daunting than the earlier levies of 50% and 18% . It also puts India on par with most other competing exporters. On Tuesday, the US Trade Representative said an investigation under Section 301(b) of the Trade Act found 60 countries have allegedly failed “to impose and effectively enforce a prohibition on the importation of goods produced with forced labor,” thereby hurting US commerce. The USTR flagged 34 goods in particular countries that are made with inputs produced with forced labor. Hence, it proposed: A 10% duty on goods from 6 economies that allegedly failed to fully enforce such prohibitions, such as Canada, Mexico, the European Union, Indonesia, Taiwan and Pakistan. A higher rate of 12.5% to be levied on 54 countries that the USTR claims have failed to impose and effectively enforce forced labor import prohibition. They include China, Japan, South Korea, Brazil, Switzerland and India. There are several proposed exceptions to the tariff regime such as apparel and textile imports, that will face a lower duty for limited quotas; certain fuels and chemicals; and some food items already covered by other levies. The Section 301 tariffs are subject to public comment and a review period before implementation. The new levy is set on specious grounds, according to Ajay Srivastava of Delhi-based trade-policy think tank Global Trade Research Initiative. The investigation is not based on allegations that Indian exports use forced ...
Zambia’s government is heading to the negotiating table after a group of bondholders blocked its attempt to buy back a $1.36 billion bond before a potentially costly coupon increase. The group could soon sign non-disclosure agreements to begin confidential negotiations over the government’s tender offer launched last week, according to people familiar with the matter, who asked not to be identifie...
Zambia’s government is heading to the negotiating table after a group of bondholders blocked its attempt to buy back a $1.36 billion bond before a potentially costly coupon increase. The group could soon sign non-disclosure agreements to begin confidential negotiations over the government’s tender offer launched last week, according to people familiar with the matter, who asked not to be identified because the discussions are private. Spokespeople for Zambia did not immediately respond to requests for comment. Representatives for Lazard & Co. and White & Case LLP, who are advising the government on the transaction, did not immediately respond to requests for comment. Read: Zambia Bond Rally Complicates Buyback Bid as Creditors Dig In The move marks a setback for Zambia, which had hoped to retire a 2053 bond before a potentially costly coupon step-up kicks in later this year. But a creditor group that now controls more than 25% of the securities has assembled a blocking position, making it impossible for the government to trigger a clean-up call provision that would have let it redeem the remaining bonds. Moreover, the securities have rallied in recent days, leaving holders with little incentive to tender. The notes are now trading near 81 cents on the dollar — well above the government’s 78-cent tender offer. Under the terms of Zambia’s 2024 debt restructuring, the bond’s coupon will jump to 7.5% from the current 0.5% if the country meets an IMF debt sustainability metric for two consecutive periods — the first expected in June, the second in December. Watch the Global Credit Forum June 3 | 9:15 a.m. - 12:50 p.m. ET Bloomberg News and Bloomberg Television are gathering some of finance’s most influential voices to explore where debt markets head next amid war, tariffs and higher-for-longer interest rates. See the full agenda here . Watch live on June 3, starting at 9:15 a.m. by clicking here . You can also follow our live blog here .
In this article MS Follow your favorite stocks CREATE FREE ACCOUNT Morgan Stanley's office in Canary Wharf financial district on Jan. 30, 2025 in London, UK. Mike Kemp | In Pictures | Getty Images Morgan Stanley will soon open a key wealth management funnel to artificial intelligence agents from thousands of corporations, CNBC has learned exclusively. It's one of the earliest instances of a major ...
In this article MS Follow your favorite stocks CREATE FREE ACCOUNT Morgan Stanley's office in Canary Wharf financial district on Jan. 30, 2025 in London, UK. Mike Kemp | In Pictures | Getty Images Morgan Stanley will soon open a key wealth management funnel to artificial intelligence agents from thousands of corporations, CNBC has learned exclusively. It's one of the earliest instances of a major Wall Street bank opening its platforms to external AI tools. The move will allow clients' autonomous agents to pull data and insights directly from the firm's stock administration platforms, ShareWorks and Equity Edge, bypassing the traditional software interfaces built for human users, according to Mark Mitchell , chief product officer of Morgan Stanley at Work . In April, Morgan Stanley executives attributed $1.2 trillion in assets gathered to its workplace strategy. "The way we see it, in a future state, our corporate clients will not be logging into ShareWorks or Equity Edge," Mitchell said. Instead, they'll be "using agentic AI-powered tools on their desktops within the four walls of their companies, interacting with our platforms in a purely agentic way," he said. The bank has already granted a handful of clients early agentic access and plans to open it up to the firm's 3,400 administration clients by next year, Mitchell said. It's the latest sign that Wall Street is preparing for a future where AI agents handle tasks now performed by software users. Rivals including JPMorgan Chase and Goldman Sachs are using AI agents internally for things like writing code, but have yet to publicly announce steps to allow external agents to connect directly to their firms' systems. Morgan Stanley wealth management Morgan Stanley has taken the staid business of managing stock compensation plans for corporations and turned it into a crucial funnel for the firm's wealth management division, which is the world's largest at $7.35 trillion in client assets. The firm acquired Solium Capit...