Happy Wednesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟨 | US Stocks Were Little Changed on Wednesday. The three major indexes inched higher as investors await the release of new inflation data on Friday, hoping it will encourage the Fed to lower interest rates.

• 📈 | One Notable Gainer: Shares of Whirlpool surged 17% after reports that Bosch is considering a bid for the US appliance manufacturer.

• 📉 | One Notable Decliner: General Mills’ stock dropped 5% despite beating earnings estimates. The company’s revenue fell 6% from the same period last year as Americans transitioned away from generic brands amid high inflation.

• 🇨🇦 | Tomorrow's Trade: Canadian Oil Is on the Rise. Scroll down for more.

Plus, our partner is teaming up with Brokk to bring laser technology to the mining, tunneling, construction, metal processing, military, nuclear disposal, and decommissioning industries. Find out more.

YESTERDAY’S POLL RESULTS

Are you bullish or bearish on mortgage-backed securities over the next 12 months?

🟨🟨🟨🟨🟨⬜️ Bullish

🟩🟩🟩🟩🟩🟩 Bearish

MARKET MOVERS

Tesla, Barnes Group, & Paychex

TSLA (+5%) Stifel initiated coverage of Tesla with a Buy rating, setting a price target of $265, which implies an upside potential of about 45% (Investing.com)

B (+8%) Aerospace manufacturer Barnes Group saw shares rise after Bloomberg reported that it is exploring strategic options, including a sale (Bloomberg)

NVO (-2%) Novo Nordisk said it will take an $820 million loss after halting a late-stage study of an experimental heart drug it acquired last year (Bloomberg)

PAYX (-6%) Paychex’s stock fell despite reporting solid earnings and sales as the company is projecting slower revenue growth for fiscal 2025 (Barron’s)

CPB (+3%) JPMorgan upgraded Campbell Soup to Overweight from Neutral, saying that its recent acquisition of Rao’s sauce business is thriving (CNBC)

TOGETHER WITH LASER PHOTONICS

Laser Photonics Inks Partnerships To Grow Its Business, Enter New Markets

When it comes to expanding its market opportunities and growing its business, Laser Photonics Corp. (NASDAQ: LASE) seems to be firing on all cylinders. In recent months it has inked partnerships with Brokk Inc. and Fastenal Company (NASDAQ: FAST), leaders in their respective industries. 

Laser Photonics is teaming up with Brokk to bring laser technology to the mining, tunneling, construction, metal processing, military, nuclear disposal and decommissioning industries. Integrating LASE’s laser technology with Brokk’s remote-controlled robots allows operators to handle heavy jobs in dangerous settings more effectively and safely. 

Through their Fastenal partnership, LASE gets access to a global distribution network and large customer base which have been eager to adopt laser cleaning solutions. 

If this isn’t enough, LPC is also courting the defense sector, recently co-hosting a booth at the NCMS Technology Showcase at Norfolk Naval Shipyard (NNSY). This puts LPC in the presence of potential customers and enables it to showcase what its laser technology can do. To learn more about LPC and its next-generation lasers, click here.

OVERHEARD ON THE STREET

CNN: Levi’s is under fire for ignoring labor standards after it continued working with a factory in Turkey that fired 400 workers after they joined a union.

Reuters: Private equity giant Blackstone has agreed to buy hotel operator Village Hotels as part of a wider investor push into the hospitality sector.

WSJ: The Supreme Court rejected a lawsuit alleging that Biden administration officials unlawfully pressured social media platforms to remove content.

CNBC: Home prices are now 47% higher than they were in early 2020, with the median sale price now five times the median household income.

BI: McKinsey says it needs to reinvent itself and that AI is the answer, claiming that AI will be “most of what we do in the future.”

TOMORROW’S TRADE IDEA, TODAY

Canadian Oil Is on the Rise

Turning the Tide

Canada’s oil sands used to be considered expensive, environmentally unfriendly, and less economically viable than shale. They came with massive costs and lacked available pipelines for distribution. 

But it seems that’s no longer the case. These days, oil sands producers are soaring. The four largest Canadian oil sands companies rose 37% on average over the past 12 months, well ahead of their US counterparts.

Dialing It In

On May 1st, the Trans Mountain Pipeline expanded to allow for an additional 590,000 barrels per day to flow through its network. According to S&P Global Commodity Insights, this should be plenty to support Canadian exports for years to come. 

According to data company Wood Mackenzie, operating costs per barrel for Canadian oil sands have fallen around 19% over the last five years. This number is expected to continue to improve as the industry refines its processes. 

To maximize efficiency, Canadian oil sands companies are also starting to use autonomous trucks.

An Investment Opportunity

For investors worried about a US oil production plateau, oil sands can produce oil consistently decade after decade. Shale, on the other hand, produces much in the beginning but quickly dissipates. 

The majority of today’s oil sands projects are expansions that use existing equipment and infrastructure, resulting in lower production costs per barrel of oil. 

Oil sands companies are also committed to returning free cash flow to their shareholders through dividends and share buyback programs. 

Oil is an essential resource, and signs indicate that oil sands may play a huge role in its supply over the next few decades. Oil sands could be a good option for investors interested in energy exposure. 

TOGETHER WITH LASER PHOTONICS

Laser Photonics Inks Partnerships To Grow Its Business, Enter New Markets

When it comes to expanding its market opportunities and growing its business, Laser Photonics Corp. (NASDAQ: LASE) seems to be firing on all cylinders. In recent months it has inked partnerships with Brokk Inc. and Fastenal Company (NASDAQ: FAST), leaders in their respective industries. 

Laser Photonics is teaming up with Brokk to bring laser technology to the mining, tunneling, construction, metal processing, military, nuclear disposal and decommissioning industries. Integrating LASE’s laser technology with Brokk’s remote-controlled robots allows operators to handle heavy jobs in dangerous settings more effectively and safely. 

Through their Fastenal partnership, LASE gets access to a global distribution network and large customer base which have been eager to adopt laser cleaning solutions. 

If this isn’t enough, LPC is also courting the defense sector, recently co-hosting a booth at the NCMS Technology Showcase at Norfolk Naval Shipyard (NNSY). This puts LPC in the presence of potential customers and enables it to showcase what its laser technology can do. To learn more about LPC and its next-generation lasers, click here.

ON OUR RADAR

CNBC: America’s drinking water is under attack, with cyberattacks on the nation’s water systems having links back to China, Russia, and Iran.

AP: Iowa public utility regulators approved a controversial carbon dioxide pipeline for transporting greenhouse gas emissions underground.

CNBC: The Biden administration will impose inflation penalties on 64 prescription drugs, lowering costs for some Americans enrolled in Medicare.

Bloomberg: The yen has fallen to its weakest level since 1986, fanning speculation that authorities may soon be forced to support the currency again.

NW: A survey from NerdWallet showed that 62% of Americans say they gambled in the last 12 months.