FINWIRES — Financial News

Canadian Airline Scheduling "Largely" Intact For Now, Says Stifel Canada

U.S. airlines are starting to curtail off-peak capacity, but Canadian scheduling appears largely intact for now, writes Stifel Canada analyst Daryl Young.In a note, Young says Canadian airlines are still planning strong growth through peak summer. Scheduled capacity increases in the second quarter are led by the Pacific (+9.0%) and Atlantic (+4.7%), partially offset by ongoing weakness in U.S. Transborder (-10.1%).Air Canada (AC.TO) (+2.4%) and Porter (+8.6%) have maintained growth in the second quarter and onward, but WestJet (-1.9%) and Flair (-2.9%) have curtailed capacity, he points out."To date, indications are that demand has remained healthy and is effectively absorbing fuel price surcharges/higher airfares . . ., but the longer fuel prices remain elevated the greater the potential for demand destruction."Stifel Canada has a buy rating and $28.00 price target on Air Canada.Price: $18.38, Change: $+0.09, Percent Change: +0.49%

$AC.TO

JFrog Poised to See Another 'Solid' Quarter With Steady Artifactory Use, Oppenheimer Says

JFrog (FROG) is expected to see another "solid" quarter aided by a steady Artifactory consumption, growing Curation adoption, and minimal operational disruption from the Iran conflict, Oppenheimer said in a note Thursday.The brokerage said it expects a 2% to 4% Q1 revenue upside to consensus estimate of $147.5 million, while the company's $300 million share repurchase program will see limited activity on account of the 30-day creditor objection period per Israeli regulation.Recent artificial intelligence-driven concerns related to the stock are "overly bearish," analysts said, adding that they continue to view AI as a strong 2026 Artifactory consumption driver for core enterprise expansion.JFrog hasn't experienced material operational impact from the Iran conflict and, if needed, has contingency plans in place, like relocation management and shifting R&D activity to other regions, according to the note.The company is scheduled to report its Q1 financial results on May 7.Oppenheimer has an outperform rating on the stock, and lowered its price target to $63 from $75.Shares of JFrog were down 6.5% in Thursday trading.Price: $43.78, Change: $-3.03, Percent Change: -6.47%

$FROG

Commodities6d ago

EIB Backs Malta-Italy Power Link to Boost Energy Security, Renewables

The European Investment Bank has agreed to provide 100 million euros ($117 million) in financing for Malta's second electricity interconnector with Italy, a project aimed at strengthening the island nation's energy security and accelerating its shift toward renewable power, EIB said in a statement on Thursday.The new subsea cable, known as IC2, will run 122 kilometers between Malta and Sicily, linking the Enemalta terminal station in Maghtab with Terna's substation in Ragusa. Designed as an alternating current connection operating at 220 kilovolts and 50 hertz, the interconnector will have a transmission capacity of 225 megawatts.Officials said the project will significantly expand electricity interconnection capacity between Malta and Italy, enabling greater access to the European power market, improving grid stability, and supporting the integration of renewable energy sources.The interconnector is scheduled to begin operations in the first quarter of 2027 and is a central component of Malta's energy strategy, particularly its efforts to meet the European Union's 2030 climate and energy targets.Total project costs are estimated at 296.68 million euros. Funding includes 165.78 million euros from the European Regional Development Fund, alongside the EIB loan and contributions from the Maltese government.The project also received advisory support from JASPERS, a joint initiative of the EIB and the European Commission, which assisted with project preparation, design, and compliance with EU requirements.Ownership of the infrastructure will remain with the Maltese government. Interconnect Malta, a state-owned company, will oversee the procurement, construction, and operation of the interconnector. Its full capacity will be made available to Enemalta, Malta's electricity distribution operator, under a capacity agreement with an annual usage tariff.

Treasury6d ago

UBS Sees Bank of Canada's MPR Next Week to Take on Board Higher Oil Prices; Comments on Two New Deputy Governors

UBS said it expects the April monetary policy report (MPR) to be released on Wednesday to include a box on the impact of the oil price shock on the outlook for the Canadian economy.In the January Monetary Policy Report (MPR), the BoC assumed: "Over the projection horizon, the per-barrel prices for oil are assumed to be US$60 for Brent, US$55 for West Texas Intermediate and US$45 for Western Canadian Select. These prices are $5 lower than assumed in the October Report."Brent futures have settled around US$82/barrel by December 2026 and US$75 by December 2027. The latest projections will likely be adjusted to take on board a higher path for oil, writes the bank in a note to clients.UBS expects little change to its core inflation projections, not just based on the March data, but also the model-implied impact of energy shocks on core prices in Canada is relatively limited.The bank predicts the BoC marks down its expectations for Q1 gross domestic product growth and that could weigh on its annual expectation for growth, depending on the extent of the revision and whether this growth is redistributed.The BoC also announced on Monday two new deputy governors with the departure of Deputy Governor Rhys Mendes on April 10 and the retirement of Deputy Governor Sharon Kozicki on July 15. Marc-Andre Gosselin and Nicolas Vincent will join the governing council as deputy governors, effective May 25 and Aug. 3, 2026, respectively.Gosselin has led the BoC Economic Analysis Department since 2019 and was the deputy managing director of the financial stability department before that.Vincent already sits within the governing council, and has been an external deputy governor since 2023. The BoC will launch a recruitment process for the soon-to-be vacant external deputy governor position.This leaves the tally of members at the April meeting at six, with Mendes' departure ahead of the meeting and a replacement not joining until May 25.UBS doubts this matters much for the policy decision and the council will be back to a full complement by the June meeting. While Kozicki is set to retire July 15, the same day as the July policy announcement, the bank expects she won't participate in that meeting. Whether six or seven members are present for that meeting will depend on how quickly the vacant external deputy governor position is filled.

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Financial News · Live Terminal

Canadian Airline Scheduling "Largely" Intact For Now, Says Stifel Canada

JFrog Poised to See Another 'Solid' Quarter With Steady Artifactory Use, Oppenheimer Says

Canadian Airline Scheduling "Largely" Intact For Now, Says Stifel Canada

JFrog Poised to See Another 'Solid' Quarter With Steady Artifactory Use, Oppenheimer Says

Pegasystems Sees Reacceleration in H2 on Backlog Growth, Higher Cash Generation, Wedbush Says

NexGen Energy Maintained at Buy at Stifel Canada as it Completes Winter Drilling; Price Target Kept at C$12.00

EIB Backs Malta-Italy Power Link to Boost Energy Security, Renewables

April Kansas City Fed Manufacturing Index Falls, Still Indicated Expansion

IBM Well-Positioned to Ride AI Demand, Wedbush Says

Raymond James Adjusts Nasdaq PT to $111 From $110, Maintains Outperform Rating

CIBC Names Keyera, Pembina as Top Energy Infrastructure Picks Ahead of Q1 Earnings Season

European Equities Traded in US as ADRs Ease in Thursday Trading

Kansas City Fed April Regional Manufacturing Index 10 Vs. 10 Estimate; 11 Prior

Akamai Technologies Expected to Deliver Q1 Top-Line Beat, Oppenheimer Says

Research Alert: CFRA Upgrades Opinion On Ads Of Nokia

US Completes Environmental Review for California Offshore Oil Project

SEI Investments Seen as Net AI 'Beneficiary' After Q1 Earnings Beat, Morgan Stanley Says

GE Vernova Delivers Beat-and-Raise Q1 Amid Signs of Long-Term Strength, Morgan Stanley Says

Tower Resources Gets Permit For New Diamond Drilling Program at Rabbit North

UBS Sees Bank of Canada's MPR Next Week to Take on Board Higher Oil Prices; Comments on Two New Deputy Governors

ServiceNow Shares Likely to Continue Facing Downward Pressure, Morgan Stanley Says

Update: US Natural Gas Inventories Rise 103 Bcf, EIA Says