Financial Wire - Financial News

JPMorgan Adjusts Price Target on Occidental Petroleum to $64 From $63, Maintains Neutral Rating

Occidental Petroleum (OXY) has an average rating of hold and mean price target of $63, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Jefferies Adjusts Price Target on Occidental Petroleum to $58 From $47, Maintains Hold Rating

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Baird Downgrades Parsons to Neutral From Outperform, $60 Price Target

Parsons (PSN) has an average rating of overweight and mean price target of $75.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Open Text Announces European Cloud Solutions Partnerships

Open Text (OTEX.TO) said Monday, it will offer some of its enterprise data and AI solutions on the AWS European Sovereign Cloud, a new independent cloud-based infrastructure for Europe.The AWS European Sovereign Cloud is separate from current AWS global regions and is backed by "strong technical controls, sovereign assurances, and legal protections" to meet the needs of European governments and enterprises, company said in a statement said.OpenText separately announced a strategic partnership with S3NS, which is an alliance between Thales, a French cybersecurity company, and Google Cloud, to offer to European organizations a cloud platform that meets strict French security and compliance criteria.The partnership delivers a hybrid cloud architecture for Europe out of France, helping organizations to keep their most sensitive data workloads within a locally governed environment, while leveraging hyperscaler cloud services for non-sensitive workloads, innovation, and scale, a statement said."Across Europe, organizations are seeking innovation that preserves sovereignty and control. OpenText is delivering on that need by pairing hyperscaler innovation with an independently governed operating model, giving customers the confidence to modernize while keeping their data, access, and operations securely under regional control," said chief information officer Shannon Bell.OpenText shares closed up $0.43, to $28.83, on Friday on the Toronto Stock Exchange.

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Mining & Metals6d ago

K92 Mining Says Lower Q1 Production From Kainantu Was "In Line With Budget"; Reiterates 2026 Annual Production Guidance

K92 Mining (KNT.TO) on Monday reported that its first-quarter production from the Kainantu gold mine in Papua New Guinea fell year over year, but was "in line with budget". while it reiterated its 2026 annual production guidance.Among highlights, KNT's first-quarter production of 46,743 ounces gold equivalent, or 44,022 oz gold, 1,696,714 lbs copper and 38,845 oz silver, was down from 47,817 ounces in the year-ago quarter. Quarterly sales were 44,854 ounces of gold, 1.9 million pounds of copper and 41,467 ounces of silver.The company reiterated its 2026 annual production guidance of 190,000 to 225,000 ounces gold equivalent, with production expected to be strongest in the second half of the year, driven by the progressive ramp-up in ore tonnes mined and processed from two new mining fronts and the completion of key expansion enabler projects.The company processed 142,017 tonnes of ore in the first quarter, a 37% increase year over year, with a head grade of 10.9 grams per tonne gold equivalent.Metallurgical recoveries were 95.1% for gold and 94.0% for copper, exceeding the updated definitive feasibility study recovery parameters for gold and performing in line for copper.KNT also cited record quarterly mine development of 3,007 metres (a 21% increase from Q1 2025), which included a new monthly development record of 1,067 metres achieved in March 2026, supported by the completion of a number of infrastructure and operational improvement initiatives in the second half of 2025 and Q1 2026.It also cited quarterly total material mined (ore plus waste) of 378,430 tonnes and record quarterly tonnes to surface of 410,356 tonnes, highlighting the positive impact of the first material pass, the commencement of surface trucks operating in the Twin Incline and the completion of the Decline-Incline Convergence Project connecting the Main Mine with the Twin Incline via internal ramp access in late January 2026.John Lewins, K92 Chief Executive Officer and Director, said: "Q1 marked a strong start to 2026, with production of 46,743 ounces gold equivalent in line with budget, continued strong performance from the Stage 3 Expansion Process Plant, and record development rates exceeding our Stage 3 requirements. During the quarter, we also completed several key enabler projects and made significant progress on others, well positioning the operation for further growth. Importantly, we are increasingly realizing the benefits of our recent investments, with infrastructure upgrades, increased equipment capacity and operational improvements driving meaningful gains across the operation."With production stoping from two new mining fronts set to come online this year, including the first later this month, and key enabler projects advancing well, we remain firmly on track to deliver stronger production in the second half of the year and achieve our full-year guidance."Shares in KNT were up 0.16% last Friday.

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Treasury6d ago

Canada Is Very Likely to Have A Majority Government by Monday, Says Scotiabank

Canadian Prime Minister Mark Carney will likely secure a majority government by late Monday once the results of three byelections roll in, said Scotiabank.As a consequence, Carney's mandate is likely to extend without having to face voters again until 2029, noted the bank.The outcome could lend supportive stability to the Canadian dollar (CAD or loonie) and domestic markets while emboldening the Carney administration to more aggressively pursue fiscal, regulatory, investment and trade policies without having to depend upon the fragmented opposition, stated Scotiabank.Two ridings in the Toronto area are Liberal Party strongholds --University-Rosedale and Scarborough Southwest, pointed out the bank. A third riding in Quebec (Terrebonne) may be closer after a very close call between the Liberals and the regional Bloc Quebecois was nulled by the Supreme Court following last April's election. Polls close at 8:30 p.m. ET Monday, with results likely to roll in shortly after.The Libs' 171 seats after the latest defection put them one seat shy of majority status in the 343-seat House of Commons. In essence, the Libs have a working tacit coalition with the Green Party's solitary seat and the six-member NDP, but one that barely passed last year's Budget by a vote of 170-168 with four abstentions. One more seat, however, would perhaps lessen the Liberals' reliance upon the other minor parties, added Scotiabank.In fact, polling is driving prediction sites to anticipate a Liberal sweep that would raise the number of seats to 174 -- two more than needed for a majority.There may nevertheless be limits to party cohesiveness, according to the bank. The Liberals have gained five members who crossed the floor from other parties; four were Conservatives, one was from the NDP. Voters often reject "crossers" when given the next chance to do so. A Liberal majority would, as such, remain partly dependent upon keeping demonstrably unfaithful party members on side in future debates and votes.Yet the country's democratic ideals are "under strain, " said Scotiabank. Five members of parliament (MP) leveraged their party's platforms, resources, and brand and were voted in by constituents who often vote first -- if not exclusively -- for the party, then perhaps for the person. Their constituents didn't choose to support the Liberal Party when given the chance in a parliamentary election. A shortcoming of the Elections Act is the failure to require a byelection should an MP choose to cross to another party. That failure compromises faith in democracy that breeds cynicism, distrust, and possibly lower voter turnout.Once a majority is set, the machinations toward a spring fiscal update are likely to be set in higher gear, with a combination of targeted stimulus and updated fiscal position likely.

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Financial News

JPMorgan Adjusts Price Target on Occidental Petroleum to $64 From $63, Maintains Neutral Rating

Jefferies Adjusts Price Target on Occidental Petroleum to $58 From $47, Maintains Hold Rating

Baird Downgrades Parsons to Neutral From Outperform, $60 Price Target

Open Text Announces European Cloud Solutions Partnerships

JPMorgan Adjusts Price Target on Occidental Petroleum to $64 From $63, Maintains Neutral Rating

Jefferies Adjusts Price Target on Occidental Petroleum to $58 From $47, Maintains Hold Rating

Baird Downgrades Parsons to Neutral From Outperform, $60 Price Target

Open Text Announces European Cloud Solutions Partnerships

Jefferies Initiates Credo Technology Group at Buy With $175 Price Target

Jefferies Initiates Tempus AI at Underperform With $35 Price Target

Jefferies Initiates Caris Life Sciences at Buy With $28 Price Target

K92 Mining Says Lower Q1 Production From Kainantu Was "In Line With Budget"; Reiterates 2026 Annual Production Guidance

Mitrajaya Unit Bags MYR54 Million Data Center Works Deal

United Overseas Bank Repurchases, Cancels Shares Worth SG$1.4 Million

Saudi Says East-West Pipeline Back at Full Capacity of 7 Million Barrels Per Day After Air Strikes

TSH Resources Repurchases More Shares

Persian Gulf, Oil Outlooks Damp Wall Street Pre-Bell, Asia, Europe Off

Yangarra Resources Names James Evaskevich As Executive Chair Of Board

Oppenheimer Upgrades Blackstone to Outperform From Market Perform, Price Target is $154

TD Cowen Adjusts Price Target on Chevron to $204 From $214, Maintains Hold Rating

Market Chatter: KKR's Japan Unit Eyes 450 Trillion Yen Property Sell-Off Market for Expansion

Edvantage Group Warns of Lower Six-Month Profit

Canada Is Very Likely to Have A Majority Government by Monday, Says Scotiabank

EP Manufacturing Seeks Renewal of Transactions Authority