KalVista Pharmaceuticals (KALV) said late Wednesday it plans to issue $110 million of convertible senior notes due 2031 in a private placement, subject to market conditions. KalVista plans to give initial purchasers an option to buy up to an additional $15 million of notes.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
US equity indexes headed for the second straight decline ahead of the close on Wednesday as most government bond yields gained. The Nasdaq Composite fell 0.5% to 22,461.91, the S&P 500 dropped 0.4% to 6,633.91, and the Dow Jones Industrial Average declined 0.4% to 46,117.4. The materials sector led the declines, while energy paced the gainers.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 3.96 million annual rate in August, based on a survey compiled by Bloomberg, after rising by 2% to a 4.01 million rate in July. Existing-home sales were at a 3.93 million rate in August 2024, so the year-over-year change would be only slightly positive.
According to Daren King over at National Bank, we now have a complete picture of the first quarter during which the U.S. tariffs were imposed, and it's "far from reassuring". King noted Quebec's real GDP contracted by the most since the 2008-2009 financial crisis, and by more than the country as a whole in Q2.
US benchmark equity indexes fell intraday, extending losses from the previous session that followed Federal Reserve Chair Jerome Powell's speech. The Nasdaq Composite was down 0.5% at 22,461.2 after midday Wednesday, while the S&P 500 fell 0.4% to 6,632.1. The Dow Jones Industrial Average lost 0.3% to 46,172.9. Among sectors, materials saw the biggest drop, while energy paced the gainers.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In economic ...
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund off 0.2%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In corporate...
US benchmark stock indexes traded lower while government bond yields rose in midday trading on Wednesday. The Nasdaq Composite was down 0.5% to 22,465.7, the S&P 500 slid 0.3% to 6,634.2, and the Dow Jones Industrial Average fell 0.2% to 46,205.3. Energy led the gainers, while materials and technology were the steepest decliners intraday.
National Bank of Canada in a Tuesday note maintained its outperform rating on the shares of Groupe Dynamite (GRGDF) while raising its price target to $66.00 from $55.00. The bank noted the clothing retailer's shares have "meaningfully outperformed" recently and said it is reviewing its price target following a "strong" 43% stock price appreciation in a short time frame since reporting Q2/F25 results.
National Bank of Canada on Wednesday retained Versamet Royalties's outperform rating and $11 price target. Versamet Royalties announced it has purchased a 90% silver stream on the Rosh Pinah Zinc mine in Namibia and a 2.75% net smelter royalty on the Santa Rita mine in Brazil for upfront consideration of US$125 million and contingent consideration of up to $45 million.
Sri Lanka's central bank said Wednesday its Monetary Policy Board decided to maintain the Overnight Policy Rate at the current level of 7.75%. The Board arrived at Tuesday's decision after carefully considering both domestic and global developments, noted CBSL in its policy stament.
National Bank of Canada Wednesday kept Lithium Americas's sector perform rating and $5 price target. The bank said a possible involvement by the US government in Lithium Americas (LAC)' Thacker Pass project could derisk the project's financials during the construction period, as well as the future revenues required through initial offtakes.
The Czech central bank Wednesday said its Board kept interest rates unchanged, as expected. The two-week repo rate remained at 3.50%. All seven members of the Board voted in favor of this decision. "Today's decision aims to stabilise headline inflation close to the 2% inflation target in the long run," wrote CNB in its policy statement. MT Newswires does not provide investment advice.
It was announced overnight Tuesday that Riksbank's Deputy Governor Anna Breman will become the new Reserve Bank of New Zealand governor from December, said ING. ING doesn't see major implications for either central bank, as Breman briefly stood out on the dovish side in 2023 but has since been rather neutral.
Hudbay Minerals (HBM) late Tuesday said it has temporarily shut down its Constancia mill in Peru due to ongoing social unrest. The company said the situation has escalated over the weekend with riots in Lima and several protests across the country, affecting Hudbay's Constancia mine and other mines in the southern mining corridor.
California Resources (CRC) said Wednesday it intends to sell $400 million of senior unsecured notes due 2034 in a private offering. The company said it plans to use the net proceeds, along with cash on hand and borrowings, to help repay Berry's existing debt in connection with their pending merger and to pay fees and expenses related to the merger and the offering of the notes.
Against consensus and market expectations, the Riksbank delivered a 25bps rate cut to 1.75% on Tuesday, said UBS. With Tuesday's reduction at Sweden's central bank, the policy rate at 1.75% has likely become accommodative.
US equity futures were flat ahead of Wednesday's opening bell as traders turned cautious after Federal Reserve Chair Jerome Powell flagged a "challenging situation" for the central bank. Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.
US equity futures were little changed pre-bell Wednesday as traders turned cautious after Federal Reserve Chair Jerome Powell flagged a "challenging situation" for the central bank. Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.
California Resources Corporation (CRC) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $400 million in aggregate principal amount of senior unsecured notes due 2034.
The CapEx Finance Index showed that demand for equipment continued to improve in August, with new business volumes rising for a second straight month despite both turbulent trade policy and changes at the Federal Reserve.
NRG Energy (NRG) said Wednesday it launched an offering of senior secured notes, as well as an offering of senior unsecured notes. The secured notes offering consists of senior secured first lien notes due 2030 and senior secured first lien notes due 2035, while the unsecured notes offering consists of senior notes due 2034 and senior notes due 2036, the company said.
One of two G10 central bank meetings took place on Tuesday and resulted in a surprise decision with Sweden's Riksbank cutting the key policy rate by another 25bps to 1.75%, said MUFG. OIS pricing before the meeting implied about a one-third chance of a cut, so the decision certainly surprised most of the market, wrote the bank in a note to clients.
The main US stock measures were mostly pointing higher in Wednesday's premarket activity as investors assess Federal Reserve Chair Jerome Powell's warning that the central bank faces a "challenging situation" with respect to its dual mandate. The S&P 500 rose 0.1% and the Nasdaq added 0.3% before the opening bell, while the Dow Jones Industrial Average was slightly in the red.
BBVA Research said it expects Mexico's central bank to deliver a 25bps rate cut on Thursday and to signal that the easing cycle still has room to continue. BBVA Research thinks further easing toward at least the midpoint neutral rate estimate remains warranted amid a weak demand outlook.
Chemtrade Logistics Income Fund, which closed down but hit 52-week highs Tuesday, announced overnight that its unit, Chemtrade Logistics, priced a private placement offering of $250 million principal amount of Senior Unsecured Notes due 2032.
Gildan Activewear (GIL) overnight Tuesday priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series. This consisted of $600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and $600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.
Gildan Activewear (GIL) said late Tuesday it priced a private offering of $600 million of 4.7% senior unsecured notes due Oct. 7, 2030, and $600 million of 5.4% senior unsecured notes due Oct. 7, 2035. The company expects the offering to close by Oct. 7 and plans to use the net proceeds to help fund its planned acquisition of Hanesbrands (HBI), among other things.
Galaxy Digital Inc. CEO Mike Novogratz said in an interview aired Tuesday that the political landscape could influence the cryptocurrency cycle, depending on President Donald Trump?s choice for the next Federal Reserve Chair.
Gildan Activewear Inc. (GIL) announced today that it has priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series, consisting of US$600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and US$600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.
COPT Defense Properties (CDP) said late Tuesday an operating partnership has priced an underwritten public offering of $400 million of 4.500% senior notes due 2030. The company said the partnership plans to use the proceeds for general corporate purposes. MT Newswires does not provide investment advice.
US equities retreated following a three-day advance to all-time highs as Federal Reserve Chair Jerome Powell highlighted a "challenging situation" that the central back faces with respect to its dual mandate.
US equity indexes were mixed on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech that the Fed sees no "risk-free path" to lowering rates. * The US Federal Reserve sees no "risk-free path" to cutting interest rates, Chair Jerome Powell said Tuesday, warning of a difficult balancing act between curbing inflation and protecting the labor market.
It's no surprise that casino giant Caesars Entertainment Inc (CZR) has been a serious laggard this year. On the broader level, the Federal Reserve cut its benchmark interest rate by 25 basis points to 4.00%-4.25%. Not only was the move the first cut since December of last year, policymakers signaled that further easing may follow.
US equity indexes were lower after the close on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech today that equity prices are "fairly highly valued." He highlighted that the Fed would move more cautiously on rate cuts as the central bank looks to balance near-term risks to inflation with a weakening labor market. "Two-sided risks mean that there is no risk-free path.
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund shedding 0.5%. The Philadelphia Housing Index was easing 0.3%, and the Real Estate Select Sector SPDR Fund rose 0.8%. In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior quarter, compared wi...
US equity indexes were lower ahead of the close on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech today in Rhode Island that the Fed sees no "risk-free path" to lowering rates as the central bank faces a "challenging situation" in balancing inflation risks with the softening labor market.
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund shedding 0.7%. The Philadelphia Housing Index was easing 0.2%, and the Real Estate Select Sector SPDR Fund rose 0.5%. In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior quarter, compared wi...
The Federal Reserve is facing a "challenging situation" ahead with respect to its dual mandate of price stability and maximum employment, Chair Jerome Powell said Tuesday.
The ever-rising cost of projects is the number one financial challenge for municipalities, according to the latest survey from the National League of Cities.
Fed Chairman Jerome Powell repeated his recent comments that the stance of monetary policy remains "modestly restrictive" and the Federal Open Market Committee is in a good position to deal with any developments of the economy, noting that downside risks to employment have increased but noting that inflation remains a concern.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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