Nyse Order Imbalance 573008.0 Shares On Buy Side

Energy stocks rose late Friday afternoon, with the NYSE Energy Sector Index adding 1.7% and the Energy Select Sector SPDR Fund (XLE) climbing 1.8%.

The Philadelphia Oil Service Sector index jumped 3.6%, and the Dow Jones US Utilities index advanced 1.7%.

West Texas Intermediate crude oil rose 1% to $67.05 a barrel while global benchmark Brent gained 1.3% to $70.35 a barrel. Henry Hub natural gas futures added 2.2% to $4.40 per 1 million BTU.

In corporate news, California Water Service shares rose 2.9%, a day after the company reported a capital expenditure of $471 million through its service areas in 2024, up $87 million from the previous year.

Hedge fund Elliott Management has taken a 670 million euro ($727.2 million) short position in French energy major TotalEnergies , The Financial Times reported. TotalEnergies shares were rising 1.1%.

Algonquin Power & Utilities shares fell 1.1% after its Q4 adjusted earnings and revenue came in below analysts' estimates.

CenterPoint Energy shares rose 2.2% after the company said Friday it completed more than half of its planned near-term "critical resiliency" actions and grid improvements since last fall.

Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 1.6% and the Energy Select Sector SPDR Fund (XLE) climbing 1.9%.

The Philadelphia Oil Service Sector index increased 3.5%, and the Dow Jones US Utilities index added 1.8%.

Front-month West Texas Intermediate crude oil was rising 1.1% to $67.07 a barrel while the global benchmark Brent crude contract was advancing 1.2% to $70.30 a barrel. Henry Hub natural gas futures were 1.8% lower at $4.22 per 1 million BTU.

In corporate news, hedge fund Elliott Management has taken a 670 million euro ($727.2 million) short position in French energy major TotalEnergies , The Financial Times reported. TotalEnergies shares were rising 1.3%.

Algonquin Power & Utilities shares fell 4.3% after its Q4 adjusted earnings and revenue came in below analysts' estimates.

CenterPoint Energy shares rose 1.9% after the company said Friday it completed more than half of its planned near-term "critical resiliency" actions and grid improvements since last fall.

(Adds comment and updates shares.)

Algonquin Power & Utilities on Friday said its fourth-quarter adjusted earnings fell, missing analyst estimates.

Adjusted earnings, which exclude most one-time items, dropped to US$45.2 million, or US$0.06 per share, from US$81.3 million, or US$0.12, in the year-prior quarter. The consensus estimate among analysts polled by FactSet expected $0.09 per share.

Revenue was US$584.8 million, down from US$588.2 million. Adjusted EBITDA declined to US$248.6 million from US$262.1 million.

National Bank of Canada reiterated its outperform rating and US$6.25 price target on the company's shares after the news.

"Although Q4 results were a little soft, we believe investor attention will be focused on the outlook for 2025 and the continued progress on cost and revenue optimization," National Bank said.

The company's shares were last seen down $0.40 to $6.43 on the Toronto Stock Exchange.

US equity futures were trending upwards on Friday as traders await the national employment situation report for February and key central bank officials' speeches.

Standard & Poor's 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.6% in premarket activity. Asian exchanges were mostly pointing lower, while European bourses were tracking in the red midday on the continent.

The nonfarm payroll report for last month is scheduled for an 8:30 am ET release. Government data is expected to show that the US economy added 160,000 nonfarm jobs in February, which would mark an increase from the 143,000 gain posted for the month prior, according to a Bloomberg poll.

Friday's economic calendar also has the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm, followed by the Federal Reserve's consumer credit bulletin for January at 3 pm.

Fed Governor Michelle Bowman and New York Fed President John Williams are slated to speak at 10:15 am, while Fed Governor Adriana Kugler speaks at 12:20 pm and later at 1 pm. Fed Chair Jerome Powell is set to speak at 12:30 pm.

Shares of Broadcom jumped 11% pre-bell as the chipmaker reported better-than-expected fiscal first-quarter results. Costco Wholesale declined 1.9% as the warehouse chain's fiscal second-quarter earnings fell short of market estimates. Hewlett Packard Enterprise tumbled 20% following its latest quarterly results.

Walgreens Boots Alliance advanced 5.9% as the drug-store operator agreed to be acquired and taken private by an affiliate of Sycamore Partners in a deal worth up to $23.7 billion.

Algonquin Power & Utilities and Advantage Solutions report earnings early Friday, among others.

Before the opening bell, bitcoin edged 0.1% lower to $88,904, West Texas Intermediate crude oil increased 1.6% to $67.41 a barrel, yields on 10-year Treasuries slipped 1 basis point to 4.27% and gold remained unchanged at $2,927 an ounce.

Algonquin Power & Utilities on Friday said its fourth-quarter adjusted net earnings fell, missing analyst estimates.

Adjusted net earnings dropped to US$45.2 million, or US$0.06 per share, from US$81.3 million, or US$0.12 per share. Analysts polled by FactSet expected $0.09 per share.

Revenue was US$584.8 million, down from US$588.2 million. Adjusted EBITDA declined to US$248.6 million from US$262.1 million.

The company's share price at last look gained 2.5% to US$4.91 in U.S. pre-market trading on Friday.