Palo Alto plans dual listing in Tel Aviv after closing $25 billion CyberArk deal | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]A Palo Alto Networks logo is seen in this illustration taken August 18, 2025. REUTERS/Dado Ruvic/Illustration [Purchase Licensing Rights, opens new tab]JERUSALEM, Feb 12 (Reuters) - Shares of Nasdaq-listed Palo Alto Networks [(PANW.O), opens new tab] will also trade on the Tel Aviv Stock Exchange, the cyb ...

Core Viewpoint - Kraft Heinz expects annual capital spending of approximately $950 million in 2026, an increase from the previous year, following the decision to pause its plans to split into two entities due to challenging conditions in the food industry [1][1]. Group 1: Capital Spending and Financial Outlook - The company forecasts capital expenditure of about $950 million for fiscal 2026, compared to $801 million in the prior year [1][1]. - The decision to pause the split is anticipated to save Kraft Heinz $300 million in costs in 2026 [1][1]. Group 2: Strategic Focus and Investments - Kraft Heinz will concentrate on marketing and research, allocating $600 million to enhance its U.S. business, which has been affected by weak demand [1][1]. - The company plans to cut approximately 60 positions as of December 27, primarily outside the U.S. and Canada, following the elimination of about 600 jobs last year [1][1]. Group 3: Historical Context and Future Considerations - Last September, Kraft Heinz announced intentions to separate into two companies, one focused on groceries and the other on sauces and spreads, due to unmet growth expectations since its merger a decade ago [1][1]. - CEO Steve Cahillane indicated that while the split is currently on hold, it remains a possibility for the future, asserting that the challenges faced are "fixable and within our control" [1][1].

Core Viewpoint - A potential U.S. move to block imports of certain disposable vapes could reduce the unregulated e-cigarette market by up to one-third, according to British American Tobacco's CEO, although any significant impact is not expected before 2027 [1]. Group 1: Market Impact - The unregulated e-cigarette devices account for approximately 70% of U.S. e-cigarette sales, adversely affecting both vape and traditional tobacco businesses [1]. - A block on imports could lead to a decline in industry sales to below 50%, equating to a reduction of roughly one-third [1]. - The CEO indicated that the scale of the impact is difficult to predict due to existing supply chains and large inventories that would delay effects [1]. Group 2: Regulatory Developments - British American Tobacco has two active cases at the U.S. International Trade Commission (ITC) aimed at blocking imports of unregulated devices [1]. - An ITC judge previously ruled in favor of BAT in a patent dispute, recommending a general exclusion order against disposable vapes infringing its patents [1]. - A full ITC determination is expected in March, followed by a 60-day presidential review [1]. Group 3: Future Considerations - The CEO suggested that the U.S. Food and Drug Administration (FDA) may initiate a program to explore different approaches to vapes, potentially including flavored options [1]. - The FDA has been looking to expedite or streamline its processes after years of rejecting most applications for new nicotine products [1].

Major brokerages, including Goldman Sachs and Morgan Stanley, expect the U.S. Federal Reserve to deliver its next interest-rate cut in June, while J.P. Morgan sees the next move as a hike in 2027. ...

Group 1 - Lukoil's Volgograd oil refinery has suspended oil processing due to a fire caused by a Ukrainian drone attack, impacting a key crude distillation unit that accounts for 40% of the plant's capacity [1][1] - The damaged crude distillation unit (CDU-1) has a capacity of approximately 18,600 metric tons per day, equivalent to around 140,000 barrels per day [1][1] - In 2024, the Volgograd refinery processed 13.5 million metric tons of oil, representing about 5% of the total volume processed at Russian refineries, producing 6 million tons of diesel, 1.9 million tons of gasoline, and 700,000 tons of fuel oil [1][1]

Core Viewpoint - Zebra Technologies has projected its 2026 sales and profit to exceed Wall Street estimates, driven by strong demand for its barcode scanners and communication devices, resulting in a rise in the company's shares [1] Group 1: Financial Forecast - The company anticipates robust sales growth, with expectations for 2026 sales and profit surpassing analyst predictions [1] - The positive outlook is attributed to increasing demand for its core products, particularly barcode scanners and communication devices [1] Group 2: Market Reaction - Following the announcement, shares of Zebra Technologies experienced an upward movement, reflecting investor confidence in the company's growth prospects [1]

Core Viewpoint - Zoetis forecasts strong adjusted profit and revenue for 2026, driven by steady demand in its companion-animal portfolio and resilient international markets, despite softer trends in the U.S. [1] Financial Performance - Zoetis expects adjusted earnings of $7.00 to $7.10 per share for 2026, exceeding analysts' estimate of $6.80 [1] - Projected revenue for 2026 is between $9.83 billion and $10.03 billion, with the midpoint surpassing estimates of $9.91 billion [1] - The company's adjusted profit per share for the recent quarter was $1.48, above estimates of $1.40 [1] - Revenue for the recent quarter rose 3% to $2.39 billion, exceeding estimates of $2.36 billion [1] Segment Performance - Revenue from the companion-animal segment increased by 2% to $1.60 billion [1] - Livestock revenue rose by 4% to $756 million [1] Market Reaction - Shares of Zoetis rose by 4.4% in premarket trading following the forecast announcement [1] - Analyst Chris Schott from J.P. Morgan noted that investor expectations were low prior to the update due to competition concerns, and the forecast should alleviate some of these worries [1]

Core Viewpoint - CarMax has appointed Keith Barr as the new CEO to lead the company through a turnaround amid declining demand for used cars [1] Company Overview - CarMax is facing challenges in reselling vehicles purchased at higher prices due to a nationwide decrease in demand as consumers opt to retain their older cars for longer periods [1] - The company has implemented various initiatives, including job cuts, to mitigate the impact of lower demand and margin pressures caused by inflation [1] Leadership Changes - Keith Barr, previously the CEO of InterContinental Hotels Group, will officially take over as CEO on March 16 [1] - The appointment follows the resignation of former CEO Bill Nash in November, which was part of a broader leadership shake-up within the company [1] - Interim CEO David McCreight acknowledged the need for change within CarMax during the third quarter [1]

Core Viewpoint - Clear Street has significantly reduced its U.S. IPO valuation target from $11.8 billion to $7.2 billion due to investor pushback [1][1][1] Company Summary - Clear Street is now offering 13 million shares priced between $26 and $28 each, down from the initial offering of 23.8 million shares priced between $40 and $44 [1][1][1] - The IPO is expected to price later on Thursday, with the stock set to list on Nasdaq under the symbol "CLRS" [1][1][1] Industry Context - The reduction in valuation reflects broader market conditions and investor sentiment, indicating potential challenges for IPOs in the current environment [1][1][1] - Major investment banks involved in the offering include Goldman Sachs, BofA Securities, Morgan Stanley, and UBS Investment Bank, highlighting the competitive landscape for IPOs [1][1][1]

American Electric Power surpassed Wall Street expectations for fourth-quarter profit on Thursday, and said it would expand its five-year capital expenditure plan beyond $72 billion to meet the surging... ...