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Stock Futures Surge as Oil Prices Plunge
Stock futures are sharply higher Monday as investors return from the weekend encouraged by easing geopolitical tensions and a steep decline in oil prices. Dow, S&P 500 and Nasdaq futures are all advancing ahead of the opening bell, with technology and travel stocks leading premarket gains as crude prices retreat.Markets are reacting positively to reports that the Trump administration has paused further military escalation with Iran to allow room for diplomatic efforts. The easing in tensions has sent Brent crude sharply lower, relieving concerns that higher energy prices could fuel inflation and complicate the Federal Reserve's policy outlook. Airline, cruise and other travel-related stocks are benefiting from the drop in oil, while energy shares are under pressure.Investor attention is focused on a week that includes the Federal Reserve's July policy meeting, second-quarter GDP data, the June personal consumption expenditures price index, and earnings from four of the "Magnificent Seven" companies. The combination of major economic data and heavyweight earnings is expected to drive market direction through the end of the week.Following last week's mixed market reaction to Alphabet and Tesla, results from Microsoft, Meta, Amazon and Apple are expected to provide the clearest indication yet of whether the AI-driven rally can regain momentum.In pre-market trading, S&P 500 futures rose 0.89%, Nasdaq futures rose 1.42% and Dow futures rose 1.15%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Forte Biosciencesup 40% after entering into a definitive agreement under which Argenxwill acquire the company for $77 per share in cashGossamer Bioup 28% after proceeding toward a planned NDA submission for seralutinib for the treatment of patients with PAH in September and reacquiring worldwide development and commercial rights to seralutinib from ChiesiD-Wave Quantumup 9% after AT&Tannounced an agreement to expand its use of D-Wave's quantum computing technology and plans to use the technology to address complex optimization challenges across its network operationsUP AFTER EARNINGS -Ensign Groupup 11%Baker Hughesup 3%AstraZenecaup 1%DOWN AFTER EARNINGS -Alpha Metallurgicaldown 4%Alliance Resource Partnersdown 1%LOWER -MapLight Therapeuticsdown 62% after reporting topline results from its Phase 2 ZEPHYR trial evaluating ML-007C-MA, an oral M1/M4 muscarinic agonist co-formulated with a peripherally acting anticholinergic, in adults with an acute exacerbation of schizophreniaArgenxdown 1% after entering into an agreement to acquire Forte Biosciences for $77 per share in cash
Joseph Craft III: Q2 Revenue at $551.56M
Reports Q2 revenue $551.56M, consensus $555.99M. "Our coal operations performed well during the quarter, highlighted by strong productivity and disciplined cost control," said Joseph Craft III, Chairman, President and Chief Executive Officer. "River View and Tunnel Ridge generated superior operating results, driving Segment Adjusted EBITDA expense per ton sold lower by 6.3% year-over-year and 6.6% sequentially. With Hamilton recently returning to longwall production and no additional longwall moves expected until 2027, we believe our operations are well-positioned to meaningfully increase production and cash flow generation during the second half of this year."
Alliance Resource Completes $206.2M Acquisition of AllDale Minerals
Alliance Resource Partners announced that it has completed its previously announced acquisition of certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for approximately $206.2M, subject to customary post-closing adjustments. ARLP funded the acquisition using a combination of cash on hand, borrowings under its revolving credit facility, and a new $150M term loan at its wholly owned subsidiary Alliance Minerals. Following the acquisition, ARLP now controls approximately 115,680 net royalty acres within its Oil & Gas Royalties segment, including over 44,770 net royalty acres in the Permian Basin. ARLP expects to provide additional commentary regarding the acquisition during its next quarterly earnings conference call.
Trump Announces $700M Investment in U.S. Coal Industry
U.S. President Donald Trump announced that the U.S. will invest $700M in the U.S. coal industry using emergency powers under the Defense Production Act. The investments will be in coal plants and mines in West Virginia, Wisconsin, Kentucky, Tennessee, North Carolina, North Dakota, Wyoming, Kentucky, Ohio, Indiana, Illinois, New Mexico, Alaska, and Maryland. Publicly traded companies in the space include Alliance Resource Partners (ARLP), Arch Resources (ARCH), Consol Energy (CEIX) and Peabody (BTU).
Craft Expects Over 95% Commitment for Coal Sales in 2026
"Looking ahead, contracting activity with domestic utility customers for 2026 has remained active, though the pace has varied as some customers continue to evaluate summer burn requirements," commented Mr. Craft. "During the quarter, the Iran conflict briefly reopened U.S. thermal coal export activity in early March, enabling us to enter into contracts for 1.8 million tons to be delivered in 2026 and 2027. In addition, we sold an additional 0.5 million tons to domestic customers, bringing our sales book to more than 95% committed and priced for 2026 assuming production comes in at the midpoint of our guidance range. Our remaining open position is concentrated in the second half of 2026, where additional commitments will depend on summer burn and customer requirements. More broadly, we continue to see a constructive demand backdrop as growing power demand, particularly from data centers, reinforces the importance of reliable baseload generation. We expect first quarter shipment disruptions tied to Winter Storm Fern and subsequent high-water conditions to be recovered over the balance of the year. In addition, once the planned longwall moves at Hamilton and Tunnel Ridge are completed in the second quarter, we do not expect any further longwall moves in 2026, which should improve operating visibility for the back half of the year. Based on year-to-date outperformance of our oil & gas royalties, we are increasing our volume guidance for the segment. Recent strength and volatility in crude oil prices have increased the near-term outlook and, because our current portfolio is unhedged, changes in market prices are reflected directly in our realized pricing. If current market conditions persist, we would expect realized BOE prices to be higher than last year, contributing to stronger segment results."
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