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FDA Issues Class I Recall For Medtronic Left Ventricular Cannulas

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Medtronic Maintained at Hold Rating Based on Consistent Earnings Guidance

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Medtronic PLC's short interest has risen 39.62% since its last report, with 18.97 million shares sold short, representing 1.48% of all regular shares available for trading. This increase in short interest can indicate bearish market sentiment. However, Medtronic's short interest is lower than its peers, whose average is 5.74%. Increasing short interest can sometimes be bullish for a stock.

benzinga_article

Medtronic

Is the Market Bullish or Bearish on Medtronic PLC?

Argus Research has raised its price target for U.S. Bancorp to $62 from $52, citing expectations of stronger loan growth, steady credit quality, and tight cost control. The stock is currently trading at a discount to peers despite strong profitability metrics. Argus also increased its 2026 EPS estimate to $4.90. The stock has risen 14.96% year-to-date, with 15 out of 25 brokerages rating it as a "buy" or "strong buy."

Reuters

US Bancorp

BUZZ-Argus Research raises PT on U.S. Bancorp

NDAQ

NASDAQ TRADE HALT VOLATILITY TRADING PAUSE AT 11:29 AM

Nasdaq

NASDAQ TRADE HALT VOLATILITY TRADING PAUSE AT 11:29 AM

Russian President Extends Exxon Mobil's Sakhalin 1 Stake Sale Deadline

marketscreener

Exxon Mobil

Russian President Extends Exxon Mobil's Sakhalin 1 Stake Sale Deadline

Bank of America highlights the "K-shaped" U.S. economy, where lower-income households face higher inflation rates compared to middle- and higher-income groups. Key spending areas like housing, transportation, and food are significantly impacted. As the gap narrows, these households remain vulnerable to economic shocks, potentially reducing discretionary spending further. Bank of America warns of continued challenges for lower-income groups heading into 2026.

- The U.S. economy is described as "K-shaped," with lower-income households facing higher inflation rates than their higher-income counterparts.  
- Bank of America notes that lower-income households are burdened by inflation in essential spending categories, particularly housing, transportation, and food.  
- As the economy approaches 2026, these households are warned to be especially vulnerable to economic shocks, leading to increased cuts in discretionary spending.

Tip Ranks

Bank of America

'K-Shaped' Economy Takes Toll on Lower-Income Households, Says Bank of America

U.S. stocks showed little change in thin holiday trading on Wednesday, with major averages narrowly mixed. The Nasdaq fell slightly, while the S&P 500 and Dow saw modest gains. Gold stocks declined, and overseas markets had mixed performances. U.S. jobless claims fell more than expected, indicating steady labor market conditions. Treasuries moved slightly lower, with the ten-year note yield down by 1.2 basis points.

rttnews

U.S. Stocks Little Changed In Thin Holiday Trading

[NEW YORK] Wall Street indexes opened nearly flat in shortened Christmas Eve trading on Wednesday (Dec 24), as traders wait to see whether stocks can extend record gains in a seasonally strong stretch for markets.At 09:30 am ET, the Dow Jones Industrial Average fell 42.67 points, or 0.09 per cent, to 48,399.74. The S&P 500 lost 0.70 points, or 0.01 per cent, to 6,909.09, and the Nasdaq Composite dipped 25.58 points, or 0.06 per cent, to 23,542.31 points. REUTERS

Businesstimes

Wall Street opens flat ahead of Christmas break

Russia has extended the deadline for ExxonMobil to sell its stake in the Sakhalin-1 project to 2027, aiding Exxon in recovering losses after exiting Russia due to the Ukraine conflict. Exxon took a $4.6 billion impairment on its 30% stake in April 2022. A non-binding agreement with Rosneft aims to help Exxon recoup losses, pending a peace deal in Ukraine and eased sanctions. India’s ONGC and Japan’s SODECO retain their stakes.

- Russian President Vladimir Putin has extended the deadline for ExxonMobil to sell its stake in the Sakhalin-1 project until January 1, 2027.  
- This extension aims to assist Exxon in recovering losses after exiting Russia, where it took a $4.6 billion impairment charge on its 30% stake.  
- Exxon and Russian firm Rosneft have signed a non-binding agreement to help recoup losses, with progress contingent on a peace deal in Ukraine and easing of sanctions.

Russia extends deadline for sale of Exxon's Sakhalin-1 stake to 2027

Northern Indiana Public Service Company LLC, a subsidiary of NiSource Inc., received a federal order to continue operating the R.M. Schahfer Generating Station beyond its planned retirement date of December 31, 2025. The order is effective for 90 days, and the company is assessing its impact, focusing on reliability and cost management for customers. NiSource Inc.'s stock is trading at $41.75, up 0.36% on the NYSE.

Nisource

Northern Indiana Public Service Receives Federal Order For Continued Operation Of Its Power Station

The FDA has issued a Class I recall for Medtronic's Left Heart Vent Catheters due to safety risks, with three injuries reported. The recall, the most serious category, warns of potential serious injury or death. The catheters may fail to maintain shape, risking tissue damage. Medtronic also recalled Bravo CF Capsule Delivery Devices for adhesive issues. Medtronic shares rose slightly in premarket trading.

FDA Flags Medtronic Heart Catheter Recall As Most Serious Safety Risk

US equity index futures are flat with fewer jobless claims than expected. The S&P 500, Dow, and Nasdaq are close to record highs, with several indices achieving record closes. The market is in a holiday mood, anticipating a Santa Claus rally. The US 10-Year Treasury yield is slightly down, while crude gains and gold slips. The main indexes have risen for four consecutive days, aiming for a fifth.

LIVE MARKETS-Will there be any more gifts left under the tree?

NiSource's Northern Indiana Plant Ordered to Operate Past Planned 2025 Retirement for 90 Days

NiSource's Northern Indiana Plant Ordered to Operate Past Planned 2025 Retirement for 90 Days

WTI Midland differentials remained stable after BP's bid in the Platts window was slightly lower than Tuesday's trading price. BP bid for a cargo at dated Brent plus $1.80 CIF Rotterdam, equating to dated plus 54 cents FOB. Unipec previously bought WTI Midland at dated Brent plus $1.85 CIF Rotterdam. ExxonMobil withdrew offers for Forties cargoes at dated Brent plus $1.00.

- U.S. WTI Midland differentials remained stable during a shortened Wednesday session, with BP bidding slightly below Tuesday's trading level.  
- BP's bid for a cargo with January 28 - February 1 dates was at dated Brent plus $1.80 CIF Rotterdam, roughly equating to dated plus 54 cents on a FOB basis.  
- In contrast, ExxonMobil withdrew offers for two Forties cargoes, while Unipec had a prior bid for January 2-14 Forties at dated Brent plus 40 cents.

North Sea Crude-WTI Midland stable after lower bid

US stock futures were slightly higher on a shortened Wednesday session, maintaining weekly gains. The S&P 500, Dow, and Nasdaq 100 were set to open higher. The first estimate of Q3 GDP showed a 4.3% annualized expansion, driven by strong private consumption. Tech stocks held steady despite valuation concerns, but Intel was set to open 3% lower due to Nvidia halting a test using Intel's equipment. Markets will close on Thursday for Christmas.