PRE-OPEN
Markets are lower as uncertainty persisted over the trajectory of the U.S.–Iran conflict. Reflecting that cautious mood, futures linked to Canada's main stock index fell along with Wall Street futures.
Canada
Statistics Canada is scheduled to release March producer price data, which is expected to rise 1.9% month on month, following a 0.4% increase in February.
After securing a majority government in Canada last week, Prime Minister Mark Carney faces his biggest challenge: redefining trade with the United States under President Donald Trump.
Canada is not a supplicant that will allow the United States to dictate the terms for a scheduled review of the United States-Mexico-Canada trade treaty, Prime Minister Mark Carney said.
Arras Minerals Corp. (TSXV: ARK) (OTCQB: ARRKF)report the first results from the 2026 drill program at the Elemes Project in northeastern Kazakhstan.
Drilling re-commenced in late February and the first two holes were collared at the Berezski East target (Elemes Project). Only five holes have been completed by Arras on this target which is evolving into the third porphyry centre discovered on the Berezski Trend over the past two years.
Berezski East is a gold-rich porphyry system, emplaced along a NE-SW structural corridor. Mineralization consists of magnetite and quartz-sulphide veins and local bornite dissemination that appear to be outlined by a prominent magnetic high feature that can be traced along strike for at least 800 metres. Gold-copper mineralization has been encountered from surface down to more than 400m depth with higher grade intervals approaching and exceeding 1 g/t Au over core lengths greater than 100 metres. In drill-hole EL26031, a fault zone was intersected at 315m depth after which a significant increase in brecciation along with increased potassic alteration and a notable increase in veining and copper-sulphide mineralization was encountered. This new zone reported higher copper values than had previously been encountered at this target and is potentially a new vector towards the core of the system.
Tim Barry, CEO of Arras Minerals commented, "We are pleased to report the Berezski East target is firming up as a third porphyry centre on the Berezski Trend. Hole EL26031 has confirmed and extended gold mineralization intersected by earlier drilling but importantly also intersected a major fault zone that appears to act as a key structural control on mineralization. Below this structure, there was a significant increase in the intensity of alteration, veining and mineralization indicative of a robust mineralized system. The five holes that we have drilled to-date cover 400 metres of strike and the target, we believe, stretches at least a further 400 meters to the Northeast." He went on to add, "We are planning a top-of-bedrock (KGK) drill program over the Berezski East target to help define the footprint of the gold-copper mineralization under the cover at this target that we will then follow-up with diamond drilling on priority targets here.” View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2026/23/c9659.html
Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) provide an update on its ongoing auger drilling program at its Turvolândia rare earth project ("Turvolândia" or the "Project"), located in the state of Minas Gerais, Brazil, approximately 200 kilometres northeast of São Paulo.
To date, the Company has completed 83 auger drill holes totalling 969 metres of a previously planned 1,000-metre program. Drilling activities have focused on three defined grid areas, followed by regional wildcat drilling across the remaining portions of the property. Based on encouraging initial assay results, Canamera has elected to expand the program to a total of 1,200 metres, with the additional drilling focused on extending the eastern grid area to evaluate the continuity of mineralization identified to date. See Figure 1: Turvolândia Drill Plan, showing the locations of completed and proposed drill holes.
"Turvolândia is delivering against our exploration thesis, with hole TUV-AUG-014 returning 3,255 ppm TREO over 13 metres from surface and a peak grade of 6,431 ppm TREO, the details of which were announced on March 11, 2026," said Brad Brodeur, CEO of Canamera Energy Metals Corp. "These results warrant an expanded program, and we have accordingly increased the auger drilling from 1,000 to 1,200 metres. The definitive agreement announced April 20, 2026 for USA Rare Earth, Inc. (NASDAQ: USAR) to acquire Serra Verde Group - operator of Brazil's only producing rare earth mine - for approximately US$2.8 billion underscores the scale of M&A activity now focused on Brazilian ion adsorption clay REE production and the strategic role this deposit class is expected to play in Western critical mineral supply chains. Canamera is positioning a multi-project Brazilian ion adsorption clay REE portfolio into that market.” To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293911
Delta Resources Limited (TSXV: DLTA)(OTC Pink: DTARF) (FSE: 6GO1)announce an upsize to the previously announced premium charity flow through financing. The Company has entered into an arrangement with Wealth Creation Preservation & Donation Inc. ("WCPD") for a non-brokered structured private placement offering (the "Offering"), consisting of the issuance of up to 26,530,614 Charity Flow-Through Units (the "Units") at a price of $0.245 per FT Unit, to raise gross proceeds of up to $6,500,000.43, each FT Unit consisting of one (1) flow-through common share ("FT Share") of the Company and one-half of one non-flow-through common share purchase warrant ("Warrant").
Each Warrant will be exercisable to acquire one additional non-flow-through common share of the Company at a price of $0.28 for 30 months following the date of issuance. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293857
Edge Total Intelligence Inc. (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5I) announced that its Western Australia-based business unit ("edgeTI WA") was awarded another contract within the Indo-Pacific Defense sector valued at approximately $1.05 million Australian dollars.
An element of this latest award includes strategic domain expansion centered on the Aviation Life-cycle Fleet Intelligence (ALFI) platform — a sophisticated digital fleet solution purpose-built for the Royal Australian Air Force (RAAF), originally developed through the advanced engineering pedigree of Austal Technology.
edgeTI's CEO, Jason Nichols commented: "Our successful expansion into the RAAF fast-jet community via the ALFI platform demonstrates the cross-domain scalability and adaptability of our technology and mission expertise. By applying the rigorous digital logic of maritime sustainment to high-performance aviation, we believe our Digital Fleet Technology will be a universal force multiplier. This award marks another milestone of our strategy to acquire elite defense capability and rapidly apply it across Sea, Air, and Land domains to solve 'Last Mile' mission readiness.” To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293882.
FireFox Gold Corp. (TSXV: FFOX)(OTCQB:FFOXF) share a progress report from exploration activity at its Kolho Property, located in northern Finland. The Kolho Property exploration campaign is being operated by a subsidiary of Agnico Eagle Mines Limited (TSX:AEM) (NYSE:AEM) (Agnico) pursuant to the Earn-In Agreement announced on December 20th, 2023. Exploration expenditures on the Kolho Property during 2025 by Agnico totalled US$1.842M. This brings the total expenditure on the project to approximately US$2.936M since signing of the Earn-In Agreement.
The 2025 field programs commenced with base-of-till (BoT) sampling from January through August, resulting in 2,778 samples collected, covering most of the Hilla exploration permit. The first drill program was initiated in the fall, including 2,383 metres of diamond drilling in twelve holes at Nuttio and Hilla, and drilling resumed early in 2026, delivering an additional 1,398 metres during the first quarter
FireFox CEO, Carl Lofberg, commented on the progress at the Kolho Property, "Agnico has established itself as the premier gold explorer and miner in the region, and we are pleased to continue our partnership at Kolho. Our shareholders benefit from Agnico's expertise and capital coupled with the discovery potential over this very large project. It is significant that they have now completed two drill programs on the back of results from systematic BoT sampling and geophysical surveys. Much of the property remains substantially unexplored while occupying a very attractive geological setting. We look forward to the results from the ongoing program."
The first three drill holes, totaling 618.8 metres, tested targets at the Nuttio exploration permit where gold-anomalous zones were identified from BoT sampling and geophysics completed during the 2024 campaign (see Company news release dated March 4, 2025). Seven additional holes tested new targets at the Hilla exploration permit area, with a total of 1,764.5 metres drilled. View the original press release on ACCESS Newswire
First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) announces that following discussions with the Impact Assessment Agency of Canada ("IAAC"), First Mining has voluntarily agreed to a short extension to the Environmental Assessment ("EA") decision date on the Springpole Gold Project (the "the "Springpole Project", or the "Project"), until June 30, 2026 (the "Extension"). The original IAAC decision date on the Springpole Project was May 22, 2026, and the Extension will provide IAAC additional time to complete the final EA report.
First Mining is pleased to announce that Cat Lake and Lac Seul First Nations have completed their independent Anishinaabe Led Impact Assessment ("ALIA") on the Springpole Project, supported by First Mining. The communities are preparing to vote, based on the findings of the ALIA, on June 4, 2026. The short extension will allow the communities to continue working with the provincial and federal government to achieve the necessary measures to ensure they can meaningfully participate in the Project. View original content to download multimedia:https://www.prnewswire.com/news-releases/first-mining-provides-update-on-springpole-gold-project-302751240.html
Greenheart Gold Inc. (TSXV: GHRT) (OTCQX: GHRTF) announces that it has filed its annual audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2025 (collectively, the "Annual Filings"). The Annual Filings are available under the Company's profile on SEDAR+ at www.sedarplus.caand on the Company's website at www.greenheartgold.com.
The Company also announces that it will hold its annual general meeting of shareholders on June 16, 2026 at its administrative offices in Longueuil (Québec). The record date for shareholders entitled to vote at the meeting is April 28, 2026.
ICG Silver & Gold Ltd. (CSE: ICG) (FSE: JI0) announce the appointment of Eric Saderholm as Senior Technical Advisor to the Company, and the formation of a Technical Advisory Committee ("TAC") to support ongoing exploration and development activities at the Company's Tuscarora District.
In addition to Mr. Saderholm, the Company is pleased to welcome Borden Putnam and Charles Sulfrian as inaugural members of the TAC. The committee will work closely with Korbon McCall, Vice President of Exploration while reporting to Steven Sirbovan, President, CEO and Director, and will be chaired by Gary Baschuk, Independent Director of the Company.
Gary Baschuk, Independent Director of ICG, said: "The depth and quality of this technical team is exceptional. Each individual brings decades of relevant experience, from major discoveries to project evaluation and development. This level of expertise enhances our ability to make informed decisions and underscores our commitment to building long-term value for shareholders through technical excellence and prudent stewardship.”
Japan Gold Corp. (TSXV: JG)(OTCQB: JGLDF)announce the closing of its previously announced (see news release dated April 10, 2026) non-brokered private placement of unsecured convertible debentures (the "Debenture") for gross proceeds of US$1,000,000 (CDN$1,390,700) (the "Offering") to Equinox Partners Investment Management, LLC ("Equinox"), a strategic investor and major shareholder of the Company.
The Debenture will mature on the date that is three years from the date of issuance (the "Maturity Date"). The Debenture will bear interest at a rate of 10% per annum (non-compounded), accruing daily but payable, in cash, only at the Maturity Date, on the occurrence of an Event of Default or upon an early redemption. The Company will have the right, at its option, to make an early redemption in cash of all or any part of the principal amount together with payment of any accrued but unpaid interest. In addition, the Company will have the right, at its election, to satisfy its obligation to pay cash to the Debenture holder through the delivery of common shares of the Company ("Shares") in lieu of cash, at a price per share which equals the greater of: (i) the most recent Market Price of the Shares on the TSX Venture Exchange on the date that the accrued interest becomes payable; (ii) $0.11; and (iii) a price per security or conversion price of debt securities in a Future Financing Event. A "Future Financing Event" will be considered the most recent issuance and sale of securities by the Company in which the Company issues or sells any common shares (or units consisting of common shares and warrants), or in which the Company issues or sells any convertible debt security issued by the Company by way of a private placement during the twelve (12) month period immediately following the closing date of the Offering, provided that such Future Financing Event results in gross offering proceeds of not less than CDN $2,000,000. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293891
Loyalist Exploration Limited (CSE:PNGC) announce the completion of a preliminary review of its DeSantis gold property (the “Property” or the “DeSantis Property”), located approximately 4.5 kilometres (“km”) southwest of Timmins, Ontario. Six priority targets have been identified, plus an additional target on the McEnaney claims to the east, highlighting the significant exploration potential of the Property.
In addition, Loyalist has identified a series of historical progress reports from 1963–1964 that reference the New Hope Porcupine (DeSantis) property and include historical tonnage estimates and sample results for that property prepared in support of a then-contemplated restart. Readers are cautioned that these historical estimates are not current, have not been verified by the Qualified Person, and should not be relied upon; see the Cautionary Statement under “Historical Documents Support Additional Ore Potential at DeSantis”
Errol Farr, Loyalist’s President & Chief Executive Officer commented, “6 significant targets and mineralization left in the historic workings make DeSantis a compelling exploration property with significant untapped potential along the prime Destor-Porcupine corridor. The next step is to conduct a more detailed review and mapping of the historic workings and creation of a summer work program. We look forward to advancing these targets as part of our broader Buy Timmins, Mine Timmins strategy.”
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) a leader in North American energy infrastructure development and asset ownership, is pleased to announce the Brooklyn Project has completed the execution of the Standard Small Generator Interconnection and Operating Agreement (SSGIA) for the Brooklyn ground-mounted community solar project (the "Project"). The Brooklyn project is approximately 6.86 MW in size, and the most recent news regarding the Project can be found here.
PPX Mining Corp. (TSX.V PPX; BVL PPX) provide an exploration update on its Igor Project located in La Libertad Region, Peru. During 2026 the company plans to drill 9,500 meters at the Callanquitas Mine and drill at the Portachuelos project targeting high grade extensions of previously identified zones. This is one of the most important drilling campaigns in the company's history. The sulfide exploration will be funded by Glencore's investment, see Press Release December 8, 2025, and the oxide exploration will be funded from ongoing free cash flow from the Callanquitas operations.
Callanquitas Exploration Update
PPX plans to initiate underground exploration drilling at its Callanquitas East Mine in June 2026 with two drills. One drill will target the oxide zone the other will target the sulfide zone. The oxide zone exploration will target step outs from holes CA-25-23, 2.40m of 12.33 g/t Au and 11.4 g/t Ag, CA- 25-19, 1.20m of 4.83 g/t Au and 4.6 g/t Ag extending the areas close to zones that are currently being mined. To date, only four holes have been drilled in the Callanquitas sulfide zone, which lies south of and beneath the previously mined oxide zones in Callanquitas East. All four of the previous Callanquitas East sulfide drill holes were drilled in 2012 or earlier with grades above cut-off. The holes close to the interface with Callanquitas East were high in silver such as CA-12-55, 4.05m of 1.70 g/t Au and 1,167 g/t Ag, and CA-12-47, 1.90m of 1.15 g/t Ag and 625 g/t Ag.
Finally, at the end of the year the company plans on commencing drilling of the tension sulfide vein discovered in 2024 with drillhole CA-24-07, 9.20 m, 10.34 g/t Au, 1671 g/t Ag and 4.0% Cu The holed from the tension vein will be drilled from a new drill chamber giving improved drill intercepts.
Promino Nutritional Sciences Inc. (CSE: MUSL) (OTCID: MUSLF) (FSE: 93X) announces, further to its news release dated March 13, 2026, that it is progressing towards completion of a non-brokered private placement (the "Offering") for up to $1,200,000 in gross proceeds, through the issuance of up to 40,000,000 units of the Company ("Units") at a price of $0.03 per Unit. Each Unit will consist of one (1) common share (a "Share") and one-half (1/2) of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant being exercisable to purchase one additional Share at a price of $0.06 for twelve (12) months from the date of issuance. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293878
Teck Resources Ltd. (TSX: TECK) beat analysts' estimates for first-quarter profit, aided by an increase in copper prices and record sales, while the company's proposed merger with Anglo American remained on track. Average copper prices surged about 36.7% in the first quarter from a year earlier and hit all-time highs late in January on supply constraints, low inventory and strong demand. Teck said its copper prices averaged $5.83 per pound in the quarter ended March 31, up from $4.24 a year earlier. Production at the Quebrada Blanca mine in Chile increased 31.2% to 55,500 tons amid a ramp-up in operations. It reported adjusted earnings of C$1.75 per share for the quarter. Analysts on an average expected C$1.15 per share.
Trident Resources Corp. (TSXV: ROCK) (OTCQB: TRDTF) announce that, further to its news release dated April 16, 2026, it has received TSX Venture Exchange approval and closed the Property Option Agreement dated April 15, 2026 (the “Agreement”) with North-Sask. Ventures Ltd. (“North-Sask.” or the “Optionor”) pursuant to which the Company has the right to acquire up to 100% interest in 19 individual mineral dispositions that total 3,586 hectares (ha) within the La Ronge Gold Belt. Company’s website at www.tridentresourcescorp.com.
Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) announced that it has awarded the Engineering, Procurement and Construction Management (the "EPCM") contract to M3 Engineering & Technology Corp. ("M3" or "M3 Engineering") and has entered into a Mine Design contract with Mining Plus. Both contractors will support the advancement of its flagship Panuco silver-gold project.
"The appointment of key engineering and mine design partners represents an important step in advancing our Panuco Project," said Michael Konnert, President and CEO. "We are pleased to partner with M3 and Mining Plus as we move towards mobilization."
VVT Med Inc. (TSXV: VVTM) a leader in minimally invasive, non-thermal and non-tumescent solutions for venous disease, is pleased to announce that, on April 21, 2026, the Company completed the first tranche of its previously announced non-brokered private placement offering for up to gross proceeds of $3,000,000, issuing 4,262,654 units (each, a "Unit") at a price of $0.25 per Unit for gross proceeds of $1,065,663.50 (the "Offering").
Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one Common Share at an exercise price of $0.375 per Warrant Share for a period of 24 months from the date of issuance. For more information, visit www.vvtmed.com.
West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) announce drill results from the Tyro Main Zone at its flagship Gold Chain Project in Arizona. All the holes drilled intersected significant gold mineralization highlighted by 22.9 metres ("m") at 3.11 grams per tonne ("g/t") gold ("Au"). Results reported in the release are from seven reverse circulation ("RC") drill holes (1,419m), part of the recently expanded 20,000m drill program. These holes were drilled into the southern portion of the Tyro Main Zone and further confirm our interpretation of grades and structural controls within the zone. To date, 16,504m of the ongoing drill program at the Gold Chain project has been completed, with assays released for 1,419m of drilling. Results are pending from the Tyro Main Zone, NE Tyro, Bull 8 and Black Dyke targets, representing 24 holes (4,087m).
"Drill results from the Tyro Main zone continue to demonstrate this zone's potential over its plus one-kilometre strike length. Confirmation of these en-echelon zones within the southern portion of the Tyro Main zone is expected to help with grade optimization in the ongoing effort to define a maiden resource at Tyro later this year. We continue to aggressively drill Gold Chain as we approach the completion of the current 20,000m drill program. Results are pending from multiple step-out targets, including holes focused on expanding the high-grade zone at NE Tyro to the northeast," stated Derek Macpherson, President and CEO.
Ghana's Minerals Commission sets December 2026 deadline for contract mining transition, sources and documents say Newmont, AngloGold and Zijin requested extensions but regulator rejected, sources and documents say, Failure to comply could result in fines and mine shutdowns, say government officials
New rules aim to boost Ghanaian ownership, retain more value in-country, according to sources Includes AngloGold Ashanti's response in paragraphs 2, 3, 11 and 12
By Maxwell Akalaare Adombila
DAKAR, April 22 (Reuters) - Ghana's mining regulator has given international companies Newmont NEM.N, AngloGold Ashanti AU.N and Chinese-owned Zijin 601899.SS until December 2026 to shift mining operations over to local contractors or face sanctions, according to five sources with direct knowledge of the matter and documents.
Newmont and Zijin currently operate the mines with their own staff. AngloGold Ashanti has a joint venture contractor mining at its smaller Iduapriem gold mine, the company told Reuters on Thursday in response to questions.
Many firms outsourced mining operations before Ghana, Africa's top gold producer, revised local ownership rules in January 2025, requiring miners switch to contract mining.
Under the rules, surface mining must be undertaken by fully Ghanaian-owned firms, while underground mining must be carried out by companies with at least 50% Ghanaian ownership.
COMPANY EARNINGS FirstService Corp: Expected Q1 earnings of 89 cents per share Mullen Group Ltd: Expected Q1 earnings of 19 Canadian cents per share Teck Resources Ltd: Expected Q1 earnings of C$1.15 per share
World Markets
Euro STOXX 50 futures were down 64 points at 5,799, FTSE futures lost 61 points to 10,425.5, German DAX futures dropped 290 points to 24,067, by 0430 GMT.
Asian shares retreated from record highs as investors took some money off the table from a technology-driven rally, while oil prices rose for a fourth straight day as a fragile ceasefire in the Middle East hung in the balance.
Oil prices extended their gains in the wake of stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz.
US Markets closed higher sending the S&P 500 and Nasdaq to closing records, after Trump extended the ceasefire with Iran, with a round of solid corporate earnings providing additional support for optimism.
Australian shares dropped to a more than two-week low, across most sectors, as markets worried about reports of gunfire attacks in the Strait of Hormuz and dwindling hopes of a peace deal.
The dollar wobbled near a 1-1/2-week high as a standoff between Iran and the U.S. in the Middle East war and lack of progress in peace talks pulled oil prices back above $100 per barrel, weighing on investor sentiment.
U.S. Treasuries were flat to slightly lower on Wednesday as investors remained cautious amid rising tension between the U.S. and Iran after Tehran's seizure of two vessels in the Strait of Hormuz threatened the current ceasefire between the two sides.
Brent crude rose amid the stalled peace talks between Iran and the United States and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz.
Gold fell as elevated oil prices fuelled fears of inflation and prolonged high interest rates, while investors looked for clarity on stalled peace talks between the U.S. and Iran.
S&P 500 Index Mini Futures: 7,134.50; down 0.51%; 36.75 points DJIA Mini Futures: 49,354.00; down 0.63%; 314 points Nikkei: 58,952.57; down 1.06%; 633.29 points MSCI Asia, Ex-JP: 817.83; down 0.59%; 4.85 points EUR/USD: $1.1700; down 0.05%; 0.0006 point GBP/USD: $1.3489; down 0.10%; 0.0014 point USD/JPY: 159.55 yen; up 0.04%; 0.06 point Spot Gold: $4,701.74; down 0.76%; $36.04 U.S. Crude: $94.41; up 1.56%; $1.45 Brent Crude: $103.28; up 1.34%; $1.37 10-Yr U.S. Treasury Yield: 4.3194%; up 0.025 point 10-Yr Bund Yield: 3.0200%; up 0.021 point
US futures are lower this morning on the back of continued US/Iran tensions. Reflecting that cautious mood, Wall Street futures edged lower ahead of a data‑heavy and earnings‑packed session, with markets bracing for weekly jobless claims and flash PMI readings for clues on economic momentum, while attention also turns to a busy earnings calendar that includes results from Intel later in the day.
American Airlines Group Inc & Alaska Air Group Inc: American Airlines is in preliminary discussions with Alaska Air Group to broaden their existing partnership, potentially by bringing Alaska into American's transatlantic and transpacific joint business arrangements, two people familiar with the matter said. The talks, which are early-stage and could still change, center on allowing Alaska to join American's joint ventures with global partners such as British Airways, Spanish carrier Iberia and Finnish airline Finnair across the Atlantic, and Japan Airlines across the Pacific, the sources said.
CSX Corp: The railroad operator on Wednesday reported higher first-quarter profit and revenue, helped by strong intermodal volumes and firm pricing. The company's first-quarter revenue rose 2% to $3.48 billion. It posted a profit of 43 cents per share, compared with 34 cents per share a year earlier. The company's operating margin was 36% for the quarter, up 560 basis points from the year-ago period.
Dow Inc: The company posted a smaller-than-expected first-quarter adjusted loss, as the chemicals maker benefited from higher polyethylene volumes and cost-cutting measures. "We are already seeing rapid positive momentum from our announced pricing actions in every business and every region, as well as constructive impacts to our operating rates," said CEO Jim Fitterling. The company reported an adjusted loss of 14 cents per share for the quarter ended March 31, compared with analysts' average estimate of a loss of 29 cents per share.
Honeywell International Inc: The company posted higher first-quarter sales, helped by higher pricing, new product launches and strong demand in its Building and Industrial Automation segments. Quarterly sales in Honeywell's largest segment, Aerospace Technologies, grew, with orders rising 6% compared with the previous year. Honeywell's total first-quarter sales grew 2% from a year ago to $9.14 billion. For the quarter ended March 31, adjusted profit rose 11% to $2.45 per share.
Intel Corp & Tesla Inc: Tesla CEO Elon Musk said on Wednesday the EV maker plans to use Intel's next-generation 14A manufacturing process to make chips at its Terafab project, an advanced AI chip complex Musk has envisioned in Austin. Musk has said, though, that Terafab will eventually produce one terawatt of computing capacity a year, compared with about half a terawatt currently generated across the United States.
International Business Machines Corp: The company's revenue growth slowed in the first quarter on sluggishness in its software business, fanning fears of disruption from artificial intelligence tools. Big Blue's revenue increased 9% in the first quarter to $15.92 billion, slower than the 12.2% growth in the previous quarter, even as it surpassed analysts' average estimate of $15.62 billion. IBM's software segment also posted slower revenue growth of 11.3%. Growth in the company’s infrastructure segment remained strong, helped by continued adoption of its latest mainframe systems. Revenue in the segment, which includes mainframe computers, grew 15.2% to $3.33 billion in the quarter.
Kinder Morgan Inc: The pipeline operator exceeded Wall Street expectations for first-quarter profit on Wednesday, as the company benefited from increased U.S. natural gas demand driven by the Middle East conflict and data center expansion. The company said the Middle East conflict also curbs competing LNG supply boosting the longer-term consumption outlook. It expects total U.S. gas demand to reach 150 billion cubic feet per day by 2031, up about 27% from this year. The first‑quarter revenue was $4.83 billion, topping analysts' expectations of $4.6 billion.
Lockheed Martin Corp: The company reported a lower first-quarter profit, as high costs on fixed-price contracts and production slowdowns on some programs undercut the defense giant's ability to cash in on soaring demand. First-quarter profit in Lockheed's largest segment, aeronautics, was weighed down by production performance and development delays for its F-16 fighter jet as well as delays in its C-130 transport aircraft program as few suppliers are still making the parts it needs. It reported a first-quarter profit of $6.44 per share, compared with $7.28 last year. Total revenue for the quarter ended March 29 was $18 billion, roughly flat from a year ago.
Microsoft Corp: The tech giant said that it will invest A$25 billion in Australia by the end of 2029 to boost computing and artificial intelligence capacity, betting on growing demand for the technology in the country. Microsoft said the investment will support the expansion of its Azure AI supercomputing and cloud infrastructure, strengthen cybersecurity and promote AI skills development across the country. "Australia has an enormous opportunity to translate AI into real economic growth and societal benefit," Microsoft CEO Satya Nadella, said in a statement.
Molina Healthcare Inc: The health insurer on Wednesday beat Wall Street estimates for first-quarter adjusted profit, helped by favorable medical costs. Revenue for the quarter came in at $10.8 billion, compared to analysts' average estimate of $10.87 billion. For the quarter ended March 31, Molina reported an adjusted profit of $2.35 per share, beating analysts' estimate of $1.92 per share. Its medical cost ratio or the percentage of premiums spent on medical services for the quarter was 91.1%, compared with its estimate of 90.73%.
Raymond James Financial Inc: The company reported a rise in second-quarter profit on Wednesday, helped by an artificial intelligence-fueled market rally that pushed its fee-generating assets to a record high. Its total assets under administration rose 15% to $1.76 trillion, lifting management and administration fees by 17% to $2.02 billion. Net interest income for the quarter fell to $960 million from $963 million a year prior. Profit in the quarter was $564 million, or $2.83 per share, compared with $507 million, or $2.42 per share, a year earlier.
ServiceNow Inc: The company reported on Wednesday that delays in closing several large government deals in the Middle East hurt first-quarter subscription revenue growth. ServiceNow expects 2026 subscription revenue to be between $15.74 billion and $15.78 billion, up from its earlier outlook of $15.53 billion and $15.57 billion. The subscription revenue forecast of $3.815 billion to $3.820 billion for the second quarter also exceeded analysts' average estimate of $3.75 billion. First-quarter revenue of $3.77 billion and adjusted earnings per share of 97 cents beat estimates of $3.74 billion and 96 cents, respectively.
Southwest Airlines Co: The airline on Wednesday forecast second-quarter earnings below Wall Street expectations and declined to update its full-year outlook, as surging fuel costs and economic uncertainty weigh on the industry despite strong demand. It forecast adjusted earnings of 35 cents to 65 cents per share for the June quarter, implying a midpoint of 50 cents, below analysts' estimate of 55 cents. Southwest still expects strong pricing, forecasting second-quarter unit revenue growth of 16.5% to 18.5%. It reported first-quarter adjusted earnings of 45 cents per share, missing analysts' estimate of 47 cents, even as revenue rose 12.8% to a record $7.2 billion and margins improved sharply.
Tesla Inc: The electric vehicle maker sharply raised its spending plan to more than $25 billion for the year as CEO Elon Musk pours money into artificial intelligence, robotics and chips - moves he said were "well justified" to build big future revenue streams. In the first quarter, Tesla recorded positive free cash flow of $1.44 billion, compared with estimates for a cash burn of $1.43 billion. The automaker reported revenue of $22.39 billion for the three months ended March 31, compared with analysts' average estimate of $22.6 billion. "We are going to be substantially increasing our investment in the future," Musk said. Meanwhile, a spokesperson said Tesla will create 1,000 new jobs at its German gigafactory by the end of June in order to increase weekly production by about 20% from the third quarter.
Texas Instruments Inc: The company forecast second-quarter revenue and profit above Wall Street expectations on Wednesday, anticipating a boost in demand for its analog chips amid the data center boom. It expects second-quarter revenue of between $5 billion and $5.40 billion, compared with estimates of $4.86 billion. It anticipates earnings per share of between $1.77 and $2.05, compared with estimates of $1.57 per share. Revenue for the first quarter was $4.83 billion, beating estimates of $4.53 billion.
ECONOMIC DATA 0830 Initial jobless claims: Expected 210,000; Prior 207,000 0830 Jobless claims 4-week average: Prior 209,750 0830 Continued jobless claims: Expected 1.820 mln; Prior 1.818 mln 0945 S&P Global Manufacturing PMI Flash for April: Expected 52.5; Prior 52.3 0945 S&P Global Services PMI Flash for April: Expected 50.3; Prior 49.8 0945 S&P Global Composite PMI Flash for April: Expected 50.5; Prior 50.3
Europe / Asia
Iran seized two ships in the Strait of Hormuz as it tightened its grip on the strategic waterway after Trumpannounced he was indefinitely calling off attacks, with no sign of peace talks restarting.
At least four people were killed in Israeli strikes in southern Lebanon on Wednesday, Lebanon's state news agency reported, and Hezbollah said it launched an attack drone at Israeli forces in the south, straining a ceasefire between the Iran-backed group and Israel.
The European Commission set out plans on Wednesday to cut electricity taxes and coordinate the summer refill of countries' gas storage, as it seeks to cushion the energy fallout from the Iran war.
L'Oreal posted its fastest quarterly sales growth in two years on Wednesday and said it was optimistic about growth, despite growing concerns about a hit to consumer confidence from the ongoing war in the Middle East.
Switzerland granted UBS concessions on planned new capital rules on Wednesday, but the government stuck to its key demand that the bank fully capitalise its foreign units.
Strong sales of electric vehicles more than offset diminishing sales of petrol and diesel cars in March, pushing up new car sales in Europe as Tesla extended a comeback, official data showed.
ECONOMIC DATA (GMT) 0645 France Business Climate Manufacturing for April: Expected 99; Prior 99 0645 France Business Climate Overall for April: Expected 96; Prior 97 0715 France HCOB Manufacturing Flash PMI for April: Expected 49.5; Prior 50.0 0715 France HCOB Services Flash PMI for April: Expected 48.5; Prior 48.8 0715 France HCOB Composite Flash PMI for April: Expected 48.6; Prior 48.8 0730 Germany HCOB Manufacturing Flash PMI for April: Expected 51.4; Prior 52.2 0730 Germany HCOB Services Flash PMI for April: Expected 50.4; Prior 50.9 0730 Germany HCOB Composite Flash PMI for April: Expected 51.2; Prior 51.9 0800 Euro Zone HCOB Manufacturing Flash PMI for April: Expected 50.9; Prior 51.6 0800 Euro Zone HCOB Services Flash PMI for April: Expected 49.8; Prior 50.2 0800 Euro Zone HCOB Composite Flash PMI for April: Expected 50.1; Prior 50.7 0830 United Kingdom Flash Composite PMI for April: Expected 49.9; Prior 50.3 0830 United Kingdom Flash Manufacturing PMI for April: Expected 50.3; Prior 51.0 0830 United Kingdom Flash Services PMI for April: Expected 50.0; Prior 50.5 1000 United Kingdom CBI Trends - Orders for April: Prior -27 1000 United Kingdom CBI Business Optimism for Q2: Prior -19 2301 United Kingdom GfK Consumer Confidence for April: Expected -25; Prior -21
