Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) is a step closer to being a player to be reckoned with in the growing US lithium market.
The Tennessee Department of Environment and Conservation has issued a Conditional Major Non-Title V Construction and Air Permit (air permit) for Piedmont's proposed Tennessee Lithium project in McMinn County, Tennessee.
Tempus Resources Ltd (ASX:TMR, TSX-V:TMRR) has completed the first phase of a rock sampling program at the Elizabeth Gold Project in Southern British Columbia aimed at expanding the mineralisation footprint beyond the current drilling zone.
The mineral exploration company collected 90 rock samples in three key target areas covering 20 square kilometres, where a 2021 airborne magnetics and radiometric survey had identified geophysical anomalies.
Intel Corporation (NASDAQ:INTC) shares climbed as much as 6% in Thursday’s after-hours trading session after the semiconductor giant posted second-quarter 2023 financial results that topped expectations on both its top and bottom lines.
The company generated $12.9 billion in revenue for quarter, exceeding the $12.02 estimate, while its adjusted earnings per share (EPS) of $0.13 surpassed the consensus forecast for a loss of $0.04.
Ford Motor Company (NYSE:F) said its second quarter revenue jumped 12% year-over-year, sending the automaker’s stock higher after the closing bell on Thursday.
For the quarter, the company posted revenue of $45 billion, above the Street forecast of $40.17 billion.
Shares of Gossamer Bio fell Thursday, and the company earned a downgrade from analysts at UBS.
Citing a "lack of near-term catalysts," the firm downgraded the biopharmaceutical company to Neutral from Buy and slashed its price target to $1.25 from $8. Shares of Gossamer traded 5% lower Thursday afternoon at $1.20.
First Quantum Minerals (TSX:FQM)’s unchanged 2023 production guidance signals a "positive" and strong second half for the copper-focused base metals miner, according to Stifel analysts, even as the company's second-quarter 2023 earnings ($0.12 per share) and cash costs fell short of their estimates.
Overall, they are neutral on First Quantum’s 2Q results and outlook but have a ‘Buy’ rating on the stock, as the company’s quarterly copper production of 187,000 tonnes exceeded expectations by 7%.
Analysts at UBS have raised their price target for Facebook, Instagram and WhatsApp parent company Meta Platforms Inc (NASDAQ:FB) after the tech giant posted second quarter results that exceeded expectations.
The analysts raised their price target from $335 to $400 and maintained their ‘Buy’ rating, noting that “many drivers” supported this rating.
Pfizer Inc (NYSE:PFE) will report earnings before the bell on August 1, but analysts aren’t overly optimistic about the pharma company’s second quarter earnings.
Pfizer is expected to report earnings of $0.57 per share, compared to $1.73 per share a year earlier. Revenue is projected to be $13.33 billion, which would be a significant decline from $27.7 billion last year..
Merck & Co Inc (NYSE:MRK) is slated to report its second quarter earnings on August 1 before the opening bell, and analysts will be watching for another earnings beat.
The pharmaceutical giant has topped earnings expectations in each of the last four quarters. This time around, the Street projects a loss of $2.18 per share on revenue of $14.43 billion.
IMAX Corp (NYSE:IMAX) shares rallied more than 10% on Thursday after the entertainment technology company reported second-quarter revenue and earnings that beat expectations as blockbuster movie releases drew bigger audiences to its theaters.
While Spider-Man: Across the Spider-Verse and The Super Mario Bros. Movie were the main attractions during the quarter to June 30, 2023, the company is looking to releases of the past weekend including Oppenheimer and Mission Impossible Dead Reckoning fill even more seats.
Shopify Inc (TSX:SH., NYSE:SHOP) will report its second quarter 2023 financial results after markets close on August 2, 2023, with the Canadian e-commerce firm expected to record adjusted earnings of $0.06 per share, compared with an adjusted loss of $0.03 per share a year earlier, according to Zacks Investment Research.
Revenue for the period, meanwhile, is anticipated to rise 25% year-over-year to $1.62 billion.
PayPal Holdings Inc (NASDAQ:PYPL) is expected to once again top Street expectations when it reports its second quarter earnings on Wednesday, August 2.
The online payment system provider has a track record of exceeding earnings expectations, with an average surprise for the past two quarters of 4.85%, according to Zacks Equity Research.
Mattel, Inc (NASDAQ:MAT) plans to build on the success of the Barbie movie as it aims to get more out of the intellectual property (IP) it has built with its toy brands.
Releasing second-quarter results, Mattel chairman and CEO Ynon Kreiz commented: “This moment will be remembered as a key milestone in our company’s history with the release of the Barbie movie, our first ever major theatrical film.
Agnico Eagle Mines Ltd (TSX:AEM) announced on Thursday record second-quarter 2023 gold production of 873,294 ounces, at an all-in sustaining cost (AISC) of US$1150 per ounce, the first full quarter of the company’s 100% ownership of the Canadian Malartic mine.
The gold miner noted that its 2Q output was partially offset by lower production at Detour Lake in Ontario, and LaRond, in Quebec.
The United States economy grew faster than expected during the second quarter, according to new data from the Bureau of Economic Analysis (BEA) released on Thursday.
Per the BEA’s advance estimate of US 2Q gross domestic product (GDP), the economy grew 2.4% at an annualized rate, up from 2% in the first quarter.
Bridgeline Digital Inc (NASDAQ:BLIN) announced that its AI-driven search solution HawkSearch has had a major engagement extended.
MISUMI USA, a global manufacturer and distributor of industrial components, is extending its use of HawkSearch to power its ecommerce business, the company said.
Royal Caribbean Cruises Ltd (NYSE:RCL) shares rallied early Thursday after second-quarter earnings came in well ahead of forecasts on stronger pricing and solid demand for its cruises.
As a result of the accelerating demand environment for its vacation experiences, the company said it is increasing its full-year 2023 guidance.
Comcast (NASDAQ:CMCSA) Corp exceeded expectations for quarterly revenue, buoyed by higher theme park attendance and the successful releases of its "The Super Mario Bros Movie" and "Fast X” titles.
The company reported a total revenue increase of 1.7% to $30.51 billion, surpassing analysts' average estimate of $30.13 billion.
Mastercard Inc (NYSE:MA) shares moved higher on Thursday after the electronic payments giant posted a second-quarter earnings beat driven by resilient consumer spending despite continued high inflation and rising interest rates.
The New York-based company posted an adjusted profit of $2.7 billion or earnings per share of $2.89, above the consensus analyst expectation of $2.84, per Zacks Consensus Estimate.
Boston Scientific (NYSE:BSX) has reported second-quarter earnings that beat market expectations due to continued strong growth at its MedSurg and Cardiovascular units, sending its shares higher in pre-market trading.
The Marlborough, Massachusetts-based medical products company reported net sales of $3.6 billion for the three months to June 30, 2023, up 11% from a year earlier.
Graphene Manufacturing Group Ltd (TSX-V:GMG, OTC:GMGMF) (GMG) announced that it has signed a THERMAL-XR distribution agreement with Nu-Calgon Wholesaler, Inc, a leading Heating Ventilation Air Conditioning, and Refrigeration (HVAC-R) specialty chemical supplier in North America, which will partner with GMG to provide THERMAL-XR to the HVAC-R markets in the US, Mexico, Canada, and the Caribbean.
The clean-tech company said THERMAL-XR allows Nu-Calgon to continue distributing HVAC-R coatings to their existing distributors with the added value of graphene-enhanced superior heat transfer and corrosion protection.
Neural Therapeutics Inc revealed that it has obtained a rare permit from Peru's Ministry of Agriculture's Servicio Nacional Forestal y de Fauna Silvestre (SERFOR) to access and study mescaline-containing cactus species.
The permit to study the Echinopsis cactus genus, commonly known as San Pedro or Huachuma, comes after an extensive 11-month review process and was further approved by The Ministry of the Environment (MINAM) due to the special nature of the company's request.
Plurilock Security Inc. (TSX-V:PLUR) announced that it has expanded its Early Access Program (EAP) for its Plurilock AI PromptGuard product which enables AI safety for businesses to its North American channel partners.
As announced on July 25, the AI safety product PromptGuard has been launched under Plurilock’s EAP as a closed, by-invitation beta experience.
Murchison Minerals Ltd (TSX-V:MUR, OTCQB:MURMF) has successfully closed its non-brokered private placement, raising C$1.5 million to fund its exploration activities in Canada.
"The high degree of interest and support the company received in this private placement speaks to the confidence our shareholders have in Murchison's projects and our ability to execute on objectives,” CEO Troy Boisjoli said in a statement.
Eskay Mining Corp (TSX-V:ESK, OTCQX:ESKYF) has determined new high-priority drill targets and begun its 2023 diamond drill campaign at its Consolidated Eskay Gold project in British Columbia, the company announced.
The campaign is primarily targeting precious metal-rich volcanogenic massive sulfide (VMS) deposits, the company said.
Chipotle Mexican Grill (NYSE:CMG) shares looked set to decline Thursday after it reported record second-quarter sales that still missed expectations, while earnings were well ahead of market consensus.
The fast-casual restaurant chain reported a 13.6% increase in revenue to $2.51 billion for the three months to June 30, 2023, below the $2.53 expected by analysts surveyed by Refinitiv.
Tribe Property Technologies Inc. (TSX-V:TRBE) has announced a partnership with KnockNok, an app aiming to connect people who need home maintenance and repair services with experienced handymen.
The provider of technology-enabled property management solutions said the partnership will provide Tribe residents with a one-stop shop for all their household maintenance and repair needs, with over 50 services ranging from cleaning, appliance repair, plumbing and heating, to home improvements.
Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) has increased its royalty interest in the producing Penouta tin-tantalum mine in Spain to 1.5%.
Operated by Strategic Minerals Europe, Penouta is the largest producer of tin and tantalum in the European Union, producing 121 tonnes in the first quarter of 2023, according to Electric Royalties.
Is Facebook parent company Meta Platforms Inc (NASDAQ:FB) still a social media company, or is it now a virtual reality enterprise? Perhaps a burgeoning artificial intelligence thought leader?
This was the line of enquiry fielded by a stock analyst from AllianceBernstein on Wedensday’s second-quarter earnings call.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the gambling software developer, spiked nearly 9.5% on Thursday after comforting analysts with news it's on track to achieve its revenue growth targets.
Predicting a 34% spike in first-half revenues, the Slingo owner impressed analysts at Peel Hunt Ltd (AIM:PEEL), who reckons full-year sales will grow by 22%.
Renforth Resources Inc (CSE:RFR, OTCQB:RFHRF) said the mineralized McCart Nickel Property has been added to its Ontario exploration property portfolio.
Renforth acquired the McCart property, which consists of nine staked claims, at no cost. It owns 100% of the rights to the claims with no encumbrances.
Kodiak Copper Corp. (TSX-V:KDK) said assay results from the first three holes drilled in 2023 at the West Zone of its MPD project in southern British Columbia have confirmed porphyry mineralization from surface over an area of 300 metres (m) by 300m and up to 819m depth, extending well below historic drilling and open to extension.
The company said a new zone of structurally hosted high-grade copper-gold-silver mineralization has been discovered to the east of the West Zone.
Tocvan Ventures Corp. (CSE:TOC) said it has entered into a binding Letter of Intent (LOI) to acquire additional land immediately adjacent and north of its Pilar gold-silver project in Mexico’s Sonora state.
Tocvan CEO Brodie Sutherland said the acquisition of the 2,172.7 hectares from a private title holder is “a company-changing event that provides us access to what we believe is a highly prospective area adding significantly to the development potential of Pilar”.
Toggle3D.ai Inc (CSE:TGGL) has announced a significant milestone of surpassing 10,000 users, with a total of over 12,900 3D projects.
The company, which was spun out by Nextech.ai in a June IPO, is a frontrunner in the estimated $160 billion Global GGI Application Software market.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced a substantial increase in demand from its largest customer, Amazon, resulting in $2.2 million in additional revenue from new 3D model orders.
The surge in demand is attributed to Nextech3D.ai's groundbreaking generative AI technology, which has driven significant productivity enhancements. As a result, the company's profit margins have expanded significantly, bringing it closer to achieving positive cash flow.
McDonald's Corp (NYSE:MCD) said its 'Accelerating the Arches' strategy, a growth strategy adopted in 2020, is paying off as it served up second-quarter revenue and earnings comfortably ahead of analysts’ expectations.
The quick-service restaurant giant said US sales benefitted from strategic menu price increases ad more guests at its restaurants. In its international operated markets, it reported strong comparable sales in most markets, led by the UK and Germany.
Honeywell (NYSE:HON) reported second-quarter earnings that beat expectations and raised its full-year guidance following strong sales at its commercial aerospace, process solutions and UOP divisions.
The Charlotte, North Carolina-based industrials company also noted that its backlog has risen 4% to a record $30.5 billion.
Oil supermajor Shell PLC (LSE:SHEL, NYSE:SHEL) and British Gas owner Centrica PLC (LSE:CNA) were under pressure for "indefensible" rowing-back on climate promises and profiting while families have struggled to power and heat their homes, with calls ramping up for higher windfall taxes on energy companies.
While Shell reported a big fall in profits, it still generated masses of cash in order to hike its dividend and promise at least US$5.5bn of share buybacks for the six months, while fellow FTSE 100 constituent Centrica also lifted its buyback to £1bn as it swung back to profit.
Anheuser-Busch InBev (NYSE:BUD), owner of beer brands Budweiser and Bud Light, is laying off over 2% of its total workforce, with the cuts largely focused on corporate staff in the US.
Drivers, salespeople, and staff working in breweries and warehouses are not expected to be affected by the job cuts, CNN reported.
Mastercard Inc (NYSE:MA) has told financial payments companies to stop allowing US customers to use its debit cards to buy marijuana.
The payment solutions company said some stores continued to accept debit payments despite a federal ban. While marijuana is legal for medical use in 38 US states, and for adult recreational use in 23 states, the federal government considers cannabis sales illegal.
SDX Energy PLC (AIM:SDX, OTC:SDXEF) shares were down around 5% in Thursday morning’s trade after the Morocco-focussed oil and gas firm announced a convertible loan financing which will allow it to advance an energy transition strategy.
The company, in a statement, said the facility – a loan agreement for up to US$3.25mln, starting with an immediate US$2mln drawdown – will be used to immediately reduce outstanding debt to the European Bank for Reconstruction and Development (EBRD) and pay critical service providers to accelerate a drilling campaign in Morocco.
The US Federal Reserve raised interest rates by 25 basis points on Wednesday, taking benchmark borrowing costs to their highest level in more than 22 years, a hike which economists increasingly think will be their last in the current cycle.
James Knightley at ING Economics said: "The Fed unanimously hiked its policy interest rate range 25bp as widely expected with the statement retaining the phrasing that further policy firming 'may be appropriate'.
Shell PLC (LSE:SHEL, NYSE:SHEL) shares fell in early trade in London after it announced a larger-than-expected decline in profits due to lower oil and gas prices.
The oil supermajor promised US$5.5bn of new share buybacks and increased its quarterly dividend 15% to US$0.33 to soften the blow.
There were no real surprises to take away from the US Federal Reserve’s 25-point interest rate hike yesterday, but benchmark cryptocurrency bitcoin seemed to be happy with the call regardless.
As analysts over at ING put it, Fed chair Jerome Powell’s acknowledgement that the central bank could afford to be a little patient on forward monetary policy provided “breathing room for risk assets”.
Meta Platforms Inc (NASDAQ:FB) has seen its advertising revenue continue to show signs of recovery, although the same cannot be said for Snap Inc (NYSE:SNAP).
Formerly going by the Facebook name, it was the social media platform’s advertisement business that helped Mark Zuckerberg’s company solidly grow revenue once again.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that the Carrizales Norte 2 (CN-2) well at the Tapir Block project in Colombia could potentially produce at a rate of 1,400 barrels of oil per day (bopd).
The company, in a statement, noted that the well was spud on 15 June before reaching target depth of 9,474 feet on 23 June, and encountered multiple hydrocarbon-bearing intervals measuring 60 feet of net oil pay in the Ubaque formation.
JPMorgan Chase & Co (NYSE:JPM) will acquire $1.8 billion of single-family residential loans to assist Banc of California's (NYSE:BANC) acquisition of PacWest Bancorp, according to Reuters, citing an insider familiar with the deal.
The merger between Banc of California and PacWest, supported by a $400 million equity infusion from Warburg Pincus and Centerbridge Partners, will establish a bank with $36 billion in assets.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) said it expects first-half revenues and profits to climb by a third with the mobile-game developer and licensor confident it is on track to meet full-year targets.
Revenues in the year to 30 June 2023 are expected to grow by 34% to £11.4mln, while adjusted underlying earnings (EBITDA) are forecast to jump by 32% to £4.6mln, the AIM quoted firm said in a pre-close trading update.
The Securities and Exchange Commission (SEC), Wall Street's primary watchdog, is initiating a ban on investment firms exploiting artificial intelligence (AI) to increase business while disregarding customers' best interests.
This proposal is among the first federal endeavours to legislate for AI technology.
Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF) (OCTP) said it has commenced its phase I clinical trial for the lead drug candidate, OCT461201, marking the administration of the first human dose.
Researchers will assess the pain relief treatment's safety, tolerability, and pharmacokinetic profile (how it interacts with the body).
LQwD Fintech Corp said it has received final approval from the TSX Venture Exchange to change its name to LQWD Technologies Corp., which will become effective on July 28, 2023. The decision to rebrand to LQWD Technologies Corp. comes after careful consideration and strategic planning by management. There will be no interruption in trading of the company's common shares and the company's trading symbols will remain unchanged.
Immunic Inc has said it will release its financial results for the second quarter ended June 30, 2023, including a corporate update, on Thursday, August 3, 2023, before the opening of the US financial markets. A webcast will follow at 8.00am ET. To participate in the webcast, interested parties can register in advance at: https://imux.zoom.us/webinar/register/WN_p1SCneOlThmUfjhnJ3AZ4g or on the "Events and Presentations" section of Immunic's website at: ir.imux.com/events-and-presentations. An archived replay of the webcast will be available approximately one hour after completion at the same link.
GoviEx Uranium Inc has said that, in light of the recent coup d'état in Niger, it has assured its stakeholders and partners, that the country’s operations in the African nation remain unaffected by the current situation. The company said it is committed to ensuring that its activities continue as normal, both at its Project site and its office in Niamey. GoviEx added that it remains hopeful for a peaceful resolution to the current situation and reiterates its commitment to working in Niger for the mutual benefit of all parties involved. While the company is deeply committed to its Niger operations, it said that it is important to highlight that GoviEx Uranium is a global company with a diverse portfolio and a significant presence in Zambia.
Information Services Corporation (ISC) said it has expanded the lenders under the company’s secured syndicated credit facility to include the Bank of Montreal. The syndicated Credit Facility now includes Royal Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CIBC) and the Bank of Montreal (BMO). Shawn Peters, president and CEO of ISC commented: “Since going public 10 years ago, ISC has been on a growth trajectory and we have expanded our Credit Facility over the years to support the execution of this growth.” He added: “The inclusion of BMO comes on the heels of the announcement on July 5, 2023 of the Saskatchewan Registries extension, and is a logical and prudent step to ensure that we remain well positioned to fund our ongoing growth strategy. I look forward to working with all our partners in the years ahead as we continue to drive value for our shareholders.” As at March 31, 2023, $56.1 million was drawn under the credit facility. ISC intends to fund the Upfront Payment of $150 million for the Saskatchewan Registries extension and other related transaction costs by drawing on its credit facility and with cash-on-hand.