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Company Reports Q2 Revenue of $607M, Beating Expectations
Reports Q2 revenue $607M, consensus $473.38M. Reports net production of 71,400 barrels of oil equivalent per day, up 12% versus last year. Commenting on the company's second quarter 2026 performance, Chairman and Chief Executive Officer Andrew G. Inglis said: "At the start of the year, we set four goals for 2026: increase production from our core assets; lower costs; reduce debt; and advance our high-quality growth portfolio with minimal capital. In the first half of 2026, we have made excellent progress in each area."
Nasdaq and S&P 500 Futures Rise as Chip Stocks Rebound
Nasdaq and S&P 500 futures are higher as chip stocks rebound after recent weakness. The Dow also enters the week near record territory. Markets are returning from the holiday weekend with a constructive tone, as investors look to extend last week's rally and begin the new week.Last week's weaker-than-expected labor report reduced some fears of additional near-term Federal Reserve tightening, which has helped improve risk appetite. Investors are now turning attention to Wednesday's Fed meeting minutes for clues on how policymakers view inflation and economic growth going into the second half of the year.Earnings season also begins to move into focus this week. Investors are looking for confirmation that corporate earnings can continue justifying elevated valuations after a strong first half of 2026. Analysts are expecting more than 20% year-over-year earnings growth for S&P 500 companies.In pre-market trading, S&P 500 futures rose 0.41%, Nasdaq futures rose 1.17% and Dow futures fell 0.07%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Seerup 37% after receiving an unsolicited, non-binding proposal from Omid Farokhzad, Seer's chair and CEO, to acquire all of the outstanding shares of Seer's Class A common stock for $2.45 per share in cash plus two separate contingent value rightsTeraWulfup 17% after executing a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, KentuckyOrthofixup 6% after disclosing that CMS had reversed itself on its very recent 10% reimbursement cut within traditional Medicare for non-invasive bone growth stimulatorsBroadcomup 4% after disclosing an agreement with Appleto expand their long-standing technology collaboration through 2031 by entering into new multi-year long-term agreements for Broadcom to develop and supply a range of custom ASIC silicon products for use in multiple generations of Apple productsKosmosup 3% after providing a portfolio updateOpus Geneticsup 3% after reaching alignment with the FDA in a Type B Rare Disease Evidence Principles meeting on the design of its registrational Phase 3 clinical trial evaluating OPGx-LCA5Comcastup 1% after announcing Sky has agreed terms to acquire ITV Media & Entertainment from ITV plc for a total consideration of up to GBP 1.6BAlibabaup 1% after BloombergU.S. District Judge Eumi Lee has ordered the Pentagon to give Alibaba reprieve from a law that led to many lobbyists dropping it as a client while she considers the constitutionality of the measureLOWER -Datadogdown 4% after Bernstein downgraded the stock to Market PerformJ.B. Huntdown 1% after Morgan Stanley downgraded shares to Underweight
Company Reports Q1 Revenue of $370.9M, Below Expectations
Reports Q1 revenue $370.9M, consensus $485.41M. Reports Q1 net production 74,800 barrels of oil equivalent per day. Commenting on the company's first quarter 2026 performance, chairman and CEO Andrew Inglis said: "Earlier this year, we set four goals for 2026: increase production from our core assets; lower costs; reduce debt; and advance our high-quality growth portfolio with minimal capital. We are delivering strongly on all four of these goals."
Dow and S&P 500 Close Lower Amid Oil Price Volatility
The Dow and S&P 500 closed lower as traders reacted to volatile oil prices and a key inflation report. Oil prices, which spiked above $100 and briefly approached $120 earlier in the week amid fears of disruptions to shipping through the Strait of Hormuz, have retreated significantly and are now trading below $90 after a coordinated release of emergency reserves. The International Energy Agency has agreed to release roughly 400M barrels from global strategic stockpiles in an effort to stabilize energy markets following the conflict-driven supply shock.U.S. forces sunk a number of Iranian ships, including 16 minelayers, on Tuesday near the Strait of Hormuz, while the United Kingdom Maritime Trade Operations said that a bulk carrier reported their vessel being hit by an unknown projectile near the Strait and two other incidents were also reported on Wednesday morning. Such developments have reinforced the fragility of global energy supply routes and kept risk sentiment unstable. Additionally, ABC News reported that the FBI said Iran wanted to retaliate against the U.S. by launching drones at the West Coast.Meanwhile, the Wall Street Journal reported that the Trump administration plans to announce new tariff investigations as soon as Wednesday.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:The International Energy Agency members have agreed to releasedue to war in the Middle EastOraclereportedand provided an upbeat outlook for Q4Nvidiain Nebiusas part of a strategic partnershipCampbell'sreportedand cut its FY26 guidanceCintasUniFirstfor $310 per share in cash and stock2. WALL STREET CALLS:Niketo Overweight at Barclays on operational progressJPMorganOracle, sees better risk/reward post selloffOptimum Communicationsto Market Perform at Raymond JamesYextto Neutral at Roth CapitalWells Fargo sees "too much risk,"coverage of Harley-Davidsonwith an Underweight rating3. AROUND THE WEB:McDonald'splans to introduce a lower-priced value menu, WSJ reportsIrth Capital has offered to acquire Papa John'sfor $47 per share, WSJ saysEli Lillyplans to invest $3B in China over the next decade, the drugmaker said in a Chinese-language statement on Wednesday, Reuters saysDue to the ongoing Qatar LNG shutdown, Shellhas declared force majeure on its liquefied natural gas contracts with some of its clients in Asia, Bloomberg saysAMDCEO Lisa Su will meet with SamsungChairman Jay Lee in South Korea to discuss cooperation on securing supplies of high-bandwidth memory to use in AI chipsets, Reuters reports4. MOVERS:Ocugengains after Oppenheimercoverage of the stock with an Outperform ratingCaesars (CZR) rises after the Wall Street Journal reported that Tilman Fertitta is in talks tofor about $7BVelo3Dhigher after CEO Arun Jeldifrom an existing debt holder and converted it into sharesKosmosfalls after announcing aHarmony Goldlower after reporting revenue for the5. EARNINGS/GUIDANCE:Target Hospitality, with EPS and revenue beating consensusBrainswayand provided guidance for FY26Sprinklr, with CEO Rory Read commenting that the fourth quarter "capped a pivotal year in our transformation"Kamadaand reaffirms FY26 guidanceServe Roboticsand provided guidance for FY26INDEXES:The Dow fell 289.24, or 0.61%, to 47,417.27, the Nasdaq rose 19.03, or 0.084%, to 22,716.14, and the S&P 500 declined 5.68, or 0.084%, to 6,775.80.
Dow Jones Drops Over 400 Points Amid Oil Price Volatility
The major averages were lower near noon, with the Dow dropping over 400 points as traders weigh shifting oil prices and a key inflation report. Markets are trading cautiously amid volatile energy prices and ongoing geopolitical tensions in the Middle East.Oil prices, which spiked above $100 and briefly approached $120 earlier in the week amid fears of disruptions to shipping through the Strait of Hormuz, have retreated significantly and are now trading below $90 after a coordinated release of emergency reserves. The International Energy Agency has agreed to release roughly 400M barrels from global strategic stockpiles in an effort to stabilize energy markets following the conflict-driven supply shock.U.S. forces sunk a number of Iranian ships, including 16 minelayers, on Tuesday near the Strait of Hormuz, while the United Kingdom Maritime Trade Operations said that a bulk carrier reported their vessel being hit by an unknown projectile near the Strait of Hormuz and two other incidents were also reported on Wednesday morning. Such developments have reinforced the fragility of global energy supply routes and kept risk sentiment unstable.Traders are also reacting to inflation data that showed consumer prices rising in February. The consumer price index was up 0.3% on a month-over-month basis and up 2.4% compared to last year, both of which matched consensus.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:The International Energy Agency members have agreed to releasedue to war in the Middle EastOraclereportedand provided an upbeat outlook for Q4Nvidia$2B in Nebiusas part of a strategic partnershipCampbell'sreportedand cut its FY26 guidanceCintasUniFirstfor $310 per share in cash and stock2. WALL STREET CALLS:Niketo Overweight at Barclays on operational progressJPMorganOracle, sees better risk/reward post selloffOptimum Communicationsto Market Perform at Raymond JamesYextto Neutral at Roth CapitalWells Fargo sees "too much risk,"of Harley-Davidsonwith an Underweight rating3. AROUND THE WEB:MasterCardhas launched a new Crypto Partner Program that brings together more than 85 companies from across the digital asset and payments industries, an effort to link blockchain technology more directly with the infrastructure that underpins global commerce, CoinDesk saysEli Lillyplans to invest $3B in China over the next decade, the drugmaker said in a Chinese-language statement on Wednesday, Reuters saysPlayboyhas named Phillip Picardi as chief brand officer and editor in chief as the publisher seeks to reestablish relevance in the modern era, Adweek reportsDue to the ongoing Qatar LNG shutdown, Shellhas declared force majeure on its liquefied natural gas contracts with some of its clients in Asia, Bloomberg saysAMDCEO Lisa Su will meet with SamsungChairman Jay Lee in South Korea to discuss cooperation on securing supplies of high-bandwidth memory to use in AI chipsets, Reuters reports4. MOVERS:Ocugengains after Oppenheimerof the stock with an Outperform ratingAunaincreases in New York afterand providing guidance for FY26Velo3Dhigher after CEO Arun Jeldi acquired afrom an existing debt holder and converted it into sharesKosmosfalls after announcing aHarmony Goldlower afterfor the first half of 20265. EARNINGS/GUIDANCE:Target Hospitality, with EPS and revenue beating consensusBrainswayand provided guidance for FY26Sprinklr, with CEO Rory Read commenting that the fourth quarter "capped a pivotal year in our transformation"Kamadaand reaffirms FY26 guidanceServe Roboticsand provided guidance for FY26INDEXES:Near midday, the Dow was down 0.86%, or 410.41, to 47,296.10, the Nasdaq was down 0.11%, or 23.89, to 22,673.22, and the S&P 500 was down 0.32%, or 20.89, to 6,759.91.
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