The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0841 ET - Nexstar says its merger with Tegna, which would consolidate hundreds of local television stations, has closed after the FCC and Justice Department cleared it. While the deal is facing challenges from several states on antitrust grounds, the FCC's approval puts pressure on other broadcast companies, says Benchmark analyst Daniel Kurnos. The rest of the industry will have the choice between pursuing mergers themselves or facing "increased competition from a now massive Nexstar, who will likely control at least 2 stations in almost every significant market that the rest of the group plays in," Kurnos says. (nicholas.miller@wsj.com)
0826 ET - Rivian's new partnership with Uber helps to address concerns investors had about Rivian's cash sustainability and the pace of demand for its new R2 vehicles, say Wedbush analysts. "The deal brings a binding commercial anchor to the R2 platform and injects capital visibility at a critical point in the production cycle while also validating its autonomous vehicle roadmap," the analysts say. They add that while Rivian is no longer expecting to be adjusted EBITDA positive in 2027 due to higher research and development spending, they say Rivian is "fully leaning into the autonomy at a crucial period with the commercial opportunity materializing." (nicholas.miller@wsj.com)
0809 ET - Antofagasta investors could be looking for the exit if the war in the Middle East continues, RBC Capital Markets analysts write. The Chilean copper miner is at risk of a lower valuation as a prolonged war could weigh on global economic growth and sour investor sentiment, they add. Copper prices and shares in miners of the metal have risen sharply in the past year given its vital importance in data centers and electrification efforts. With oil flows out of the Middle East disrupted, prices are rising. The mining industry will face significant cost pressures but Antofagasta is relatively well-shielded for now, they say. The analysts cut the stock's rating to underperform from sector perform. Shares fall 0.9% to 3,244 pence. (adam.whittaker@wsj.com)
0803 ET - Assa Abloy derives around 1% of group sales from the Middle East, so its direct impact from the conflict is minor, Citi analyst Vivek Midha writes. Shares have underperformed the STOXX Europe 600 Industrial Goods & Services index by 6% since the start of the Iran conflict, despite Assa's defensive qualities, Midha says. The first quarter is likely to be soft given adverse weather, but more importantly, higher bond yields could slow the residential construction recovery. Despite this, Assa Abloy's relative de-rating offers a good entry point in the bank's view for a name with midterm volume recovery potential and defensive qualities. The bank lowers its target price to 425 kronor from 440 kronor and keeps its buy rating. Shares rise 1.5% to 326.70 kronor. (dominic.chopping@wsj.com)
0748 ET - Heidelberg Materials investors have overestimated the negative impact of the Middle East conflict and potential changes to European carbon regulations, Deutsche Bank's Jon Bell writes. The cement-maker doesn't have large-scale operations in the Middle East, and its pivot to sustainable production insulates the company from surging natural-gas prices, Bell adds. Speculation that the European Union will water down reforms to its Emissions Trading Scheme weighed on the stock so far this year, as lower carbon prices would eat away at Heidelberg's relative advantage as a leader in decarbonization. However, targets to reduce carbon emissions will still be implemented even if they are delayed, the analyst adds. Heidelberg Materials gains 3.5%. (josephmichael.stonor@wsj.com)
0735 ET - A prolonged conflict in the Middle East could cause copper equities to fall, RBC Capital Markets analysts write. Global economic growth forecasts might be downgraded as a result of the war and could push copper prices lower, they write. Investors might look for an exit given the stocks' exposure to global economic growth, they write. Cost inflation from higher fuel and electricity prices would also hurt miners' earnings, they say. The copper market could flip into a surplus as second-half production recovers with mine ramp-ups, they add. (adam.whittaker@wsj.com)
0732 ET - Agentic commerce is still in the early innings, but companies are slowly assembling building blocks needed to help retailers roll out AI agents that help shoppers find products, provide customer support and let people order food at restaurants, Mizuho says in a note. Analyst David Bellinger says Google on Thursday showed off several new agentic shopping features including multi-item cart capabilities and deepening access to retailer catalogs, inventories and real-time pricing. "This is again a good development, in our view," he says. "Management teams seem to be buying in," he adds, noting that companies including Walmart, Target, Wayfair, Chewy, Home Depot and Lowe's stand to benefit from their ties to Google. (connor.hart@wsj.com)
0727 ET - Richemont continues to enjoy significant brand momentum and should be able to tackle current market challenges, analysts at Bernstein say in a note. The Swiss luxury-goods company has a diversified geographical footprint, they say. Richemont reports relatively detailed geographical exposure, with the Middle East representing between 8% and 10% of group revenue in the nine months through Dec. 31, the brokerage says. Local spending in the region has experienced a slight impact from the war in Iran, but contrary to expectations, business hasn't ground to a complete halt, Bernstein says. "That said, tourist spending has likely slowed to a trickle," the analysts say. Some 20% to 30% of Richemont's reported Middle East revenue is derived from tourist spending, they add. Shares are up 0.7%. (andrea.figueras@wsj.com)
0713 ET - Copper prices are on track for a weekly loss of nearly 5%, pressured by concerns over global economic growth due to soaring energy prices as the Middle East war drags on. In afternoon trading, three-month LME copper falls 0.7% to $12,132.50 a metric ton. Analysts at Commerzbank say prices are also pressured by rising production from China. "Data from China shows that copper production continues to run at full speed," says Thu Lan Nguyen. "At the same time, global copper inventories on the exchanges remained stable at high levels." (giulia.petroni@wsj.com)
0709 ET - DHL Group shares trade at an attractive entry point after recent weakness, Citi analysts Chloe Fu and Arthur Truslove write. The disruption in the Middle East is likely positive for DHL as supply tightens and the company has the ability to pass on costs, they say. "We are 4% ahead of consensus on 2026 EPS due to benefits in the Express division." If DHL's Time Definite International delivery volumes stabilize at current levels, the structurally improved cash flow can support over a 7% total shareholder yield, comprised of 4% dividend and 3% buyback yield. Citi lifts its target price to 52 euros from 47 euros and keeps at buy. Shares rise 1.8% to 44.74 euros. (dominic.chopping@wsj.com)
0706 ET - Torrid's fourth-quarter results are ahead of expectations, and the plus-size apparel company issues full‑year guidance modestly above consensus, William Blair analysts say in a research note. The company says its turnaround plan is starting to bear fruit, as it closes underperforming stores and is seeing positive results from newly launched sub-brands. While Torrid's initial outlook is encouraging, the efficacy of its turnaround hinges on whether newly-launched products continue to resonate with shoppers, the analysts say. "A limited track record on new product and worsening fundamentals keep us more cautious, noting a handful of false starts over the last two years," they write. Shares climb 16% premarket Friday. (connor.hart@wsj.com)
0703 ET - U.K. banks are underperforming so far in 2026 as investors balk at higher valuations and macroeconomic concerns weigh on the sector, AJ Bell's Russ Mould writes. After a five-year bull run, some U.K. banks are down steeply so far this year. Though inflation spurred by conflict in the Middle East could support banks' income, "any economic slowdown due to higher energy prices could lead to an increase in loan losses that offsets the extra interest income," Mould writes. Investment banks' troubles are compounded by private credit concerns, with Barclays and Standard Chartered 18% and 15% lower for the year, respectively. NatWest is down 18% for the year, though HSBC--which has significant operations in Asia--is flat. (josephmichael.stonor@wsj.com)
(END) Dow Jones Newswires
March 20, 2026 08:41 ET (12:41 GMT)
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