Alberta Oil Production Falls to Lowest in Two Years
Output from Canada's biggest oil-producing province slid 397,000 barrels a day to 3.61 million barrels a day in May, the lowest since May 2023, provincial data released Thursday show. Flows from the oil sands, the world's third-largest reserve of crude, dropped 384,000 barrels a day. Output from oil sands mines slid to the lowest in more than four years.
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Yahoo
23 minutes ago
- Yahoo
Prediction: This Growth Stock Will Skyrocket in the Second Half of 2025
Micron Technology has clocked impressive gains so far in 2025, and it looks set to fly higher in the second half of the year as well. The company's latest quarterly results make it clear that it is benefiting big time from fast-growing demand for memory chips used in various applications. Micron's solid growth potential and attractive valuation make the stock a no-brainer buy right now, considering the potential upside it could deliver. 10 stocks we like better than Micron Technology › Memory specialist Micron Technology (NASDAQ: MU) has been delivering terrific growth in recent quarters thanks to booming demand for its chips deployed in data centers, smartphones, and personal computers (PCs), which explains why the stock has clocked solid gains of 46% so far this year. Micron released its fiscal 2025 third-quarter results (for the three months ended May 29) on June 25. A closer look at the company's numbers and guidance suggests that its rally is here to stay in the second half of the year. Let's look at the reasons why investors can expect Micron stock to deliver more upside for the rest of the year as well. Micron's fiscal Q3 revenue shot up 37% year over year to $9.3 billion, while its adjusted earnings more than tripled to $1.91 per share. The numbers crushed Wall Street's expectations of $1.60 per share in earnings on revenue of $8.86 billion. Micron CEO Sanjay Mehrotra remarked on the latest earnings conference call that its data center revenue more than doubled from the year-ago period and hit record levels last quarter. This terrific growth was driven by the healthy demand for Micron's high-bandwidth memory (HBM) chips that are integrated with AI accelerators from the likes of Nvidia and AMD. Micron management points out that it is shipping its HBM chips in high volumes to four customers right now, who are integrating them with both graphics cards and custom AI processors. Importantly, Micron is not resting on its laurels and is focused on further improving the performance of its HBM chips. The company claims its next-generation HBM4 chips, which will succeed the HBM3E offerings, will pack 60% more performance while reducing power consumption by 20%. The company has already provided samples of HBM4 to customers and expects to start the volume production of this product in 2026. Micron's focus on pushing the envelope on the product development front is the right thing to do, considering that the HBM market is set to take off impressively in the long run. Bloomberg Intelligence estimates that the HBM market could generate annual revenue of $130 billion by 2030. That would be a huge jump over the $4 billion revenue this segment clocked in 2023. Micron, therefore, still has massive room for growth in this segment, both in the short and long run. The strong momentum provided by the HBM business tells us why the company's guidance for the current quarter points toward another solid increase in its top and bottom lines. Micron has guided for $10.7 billion in revenue for the fiscal fourth quarter, which would be a 38% increase over the prior-year period. That would be a slight improvement over the revenue growth it reported in the previous quarter. Meanwhile, Micron's forecast of $2.50 per share in earnings for the current quarter suggests its bottom line will more than double from the year-ago period's reading of $1.18 per share. The stronger growth in Micron's earnings can be attributed to a favorable memory pricing environment. Memory manufacturers such as Micron have been increasing the prices of chips on account of solid HBM demand and supply constraints. According to TrendForce, the average price of dynamic random access memory (DRAM) chips increased in the range of 3% to 8% in the second quarter, owing to an increase in sales of HBM, along with an improvement in the demand for mobile and consumer-oriented DRAM chips. Looking ahead, Micron management estimates that adoption of AI-enabled personal computers (PCs) and smartphones will contribute to the company's growth in the coming quarters. So Micron's catalysts are likely to get stronger as the year progresses, and that could pave the way for more upside in the second half of 2025 and beyond. We have already seen how rapidly Micron's revenue and earnings are growing. However, the company's valuation suggests that it is extremely undervalued, considering the phenomenal growth it's been clocking. Micron has a trailing price-to-earnings ratio of 22, while the forward earnings multiple is even more attractive at 11. The company is on track to end the current fiscal year with adjusted earnings of $7.76 per share (based on its guidance of $2.50 per share for fiscal Q4 and cumulative earnings of $5.26 per share in the first three quarters of the year). That would be a huge increase over its fiscal 2024 earnings of $1.30 per share. What's more, analysts are expecting a 54% spike in Micron's earnings in the next fiscal year to $12.05 per share. If the stock maintains its trailing earnings multiple of 23 after a year, its stock price could hit $265. That would be more than double current levels. As such, Micron's latest quarterly results should give its rally a nice shot in the arm in the second half of the year, as the market could reward its terrific growth with a richer valuation, while the projected earnings growth for the next fiscal year indicates that it could continue soaring in 2026 as well. Before you buy stock in Micron Technology, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Micron Technology wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool has a disclosure policy. Prediction: This Growth Stock Will Skyrocket in the Second Half of 2025 was originally published by The Motley Fool
Yahoo
32 minutes ago
- Yahoo
Trump May Start Telling Nations New Tariff Rates Soon
US President Donald Trump said his administration may begin sending letters to trading partners as soon as Friday setting unilateral tariff rates ahead of a July 9 deadline for negotiations. Bloomberg's Jill Disis breaks down his statement on The China Show.
Yahoo
an hour ago
- Yahoo
Child tax credit gets small boost in Trump's tax bill, but millions of families are left out
The popular child tax credit will receive a slight boost from President Trump's signature tax and spending bill — but there are caveats. Currently, taxpayers who make under $200,000 annually as a single filer, or $400,000 if filing jointly, can qualify for a partially refundable credit of up to $2,000 for each child they claim as a dependent who is under age 17 and a US citizen or qualifying noncitizen. The new legislation increases the credit to a maximum $2,200 per child. Without the bill, the maximum credit would have reverted to $1,000. But the increase, which amounts to a 10% bump, follows years of rising prices that have chipped away at the value of the original benefit. And many extremely low-income children — in addition to US citizen kids of undocumented parents — will be locked out of the payments altogether. 'If you're already receiving the full credit amount, then you will benefit from this,' Joe Hughes, a senior analyst at the Institute on Taxation and Economic Policy, told Yahoo Finance. 'If you're not, then you probably won't benefit.' Read more: Child tax credit: Everything you need to know By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy To qualify for the refundable portion of the child tax credit, which is called the 'additional child tax credit' and can be worth up to $1,700, taxpayers must earn at least $2,500 in annual income. (A refundable tax credit can lower tax liability past zero, potentially generating a refund.) Families who make less than that receive no benefit, while many more children are in low-income households that earn just enough to receive part of the benefit but not enough to receive the full payment. Due to those income restrictions, an estimated 17 million children are unable to receive the full child tax credit, according to the Tax Policy Center, a left-leaning think tank. The average benefit for taxpayers with children who made between $10,000 and $20,000 in 2022, for example, was $800, according to the Congressional Research Service. That pay range includes people who worked full-time jobs at the federal minimum wage. Families earning between $200,000 and $500,000, meanwhile, saw an average benefit of $2,810. Households where both parents lack a Social Security number — undocumented immigrants, including those whose children have a Social Security number and are US citizens — will also be shut out under the new law. 'We are excluding some of the most vulnerable kids that have very, very high poverty rates," said Dolores Acevedo-Garcia, a professor at the Boston University School of Social Work. About 1.8 million children live in households where both parents are undocumented, she added. There was a point when the benefits were less restrictive and more broadly accessible. Through the 2021 pandemic-era American Rescue Plan, the child tax credit was temporarily expanded from $2,000 to up to $3,600 per child in what some scholars and advocates hailed as one of the country's greatest-ever antipoverty measures. Combined with stimulus payments, the tax credit hike helped slash child poverty rates by 46%, pushing them to their lowest level on record. When the child tax credit expansion lapsed at the end of 2021, those gains were reversed. At the time, the credit was fully refundable, meaning even the lowest-income families qualified. As for the new tax bill, 'basically what it's doing is giving wealthier families a small boost,' said Adam Ruben, director of Economic Security Project Action, a left-leaning advocacy group. 'But for lower-income and working-class families, they get nothing.' Emma Ockerman is a reporter covering the economy and labor for Yahoo Finance. You can reach her at Sign up for the Mind Your Money newsletter
