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Update: Dow Snaps Record Run Following Reports on Restrictive Hormuz Draft Plan
US Markets

Update: Dow Snaps Record Run Following Reports on Restrictive Hormuz Draft Plan

(Updates with market moves at the end of the day, and other changes, if any.)The Dow Jones Industrial Average retreated Thursday from record highs as oil prices rose following reports that US and Israeli ships won't be allowed to transit the Strait of Hormuz under a draft plan.The Dow shed 0.9% to 53,885.10, after notching three consecutive record closing highs. The S&P 500 fell 0.2% to 7,709.96, while the Nasdaq Composite edged down 0.1% to 26,348.35. Most sectors were in the red, led by industrials, real estate and materials, while energy saw the biggest gain.West Texas Intermediate crude oil was up 3.1% at $77.54 a barrel in Thursday late-afternoon trade, while Brent rose 4.1% to $82.74.Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC.Asked about the Fars report, CNBC quoted an unnamed US official as saying that "any temporary routes will be without any impediments -- meaning no approvals or permissions and no tolls or charges."The proposed Iran-Oman agreement would not automatically reopen the strait, Iranian Deputy Foreign Minister Kazem Gharibabadi told the state-run Islamic Republic News Agency, according to CNN."The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress is essential before disrupted energy flows can realistically resume," ING Bank said in a report Thursday.Treasury yields were higher, with the two-year rate rising 6.6 basis points to 4.25% and the 10-year rate up 5.1 basis points at 4.67%.Honeywell Aerospace's (HONA) fiscal second-quarter earnings fell year-over-year as revenue missed estimates. The stock plunged 23%, the worst performer on the S&P 500.AppLovin (APP) shares tumbled nearly 20%, the second-biggest decline on the benchmark equity index, after the mobile technology company reported a second-quarter revenue miss late Wednesday.Datadog (DDOG) followed AppLovin on the S&P 500, down 19%, even after the software maker reported a second-quarter beat and raised its full-year outlook.In economic news, US job cuts hit a two-year low in July even as downsizing in the tech sector continued, outplacement firm Challenger Gray & Christmas said. Separately, government data on Thursday showed that initial jobless claims rose less than expected for the week through Aug. 1.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 80,000 nonfarm jobs last month, compared with a 57,000 increase reported for June, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.2%.Spot gold fell 0.2% to $4,239.52 per troy ounce, while silver declined 0.9% to $61.76 per ounce.

Dow JonesNasdaq CompositeS&P 500$APP$DDOG$HONA
Japan

US Equity Markets End Lower After Crude Oil Prices, Government Bond Yields Rise Again

US equity indexes ended lower Thursday after crude oil prices and government bond yields rose following Iran's warning to Gulf states and clarification on the Hormuz deal with Oman* Iran has made a concerted diplomatic push with Gulf states, warning them explicitly that Tehran will hit their oil, power and water plants unless they convince President Donald Trump to end US strikes on Iran, Reuters reported Thursday. The deal would give Tehran control over ships entering the Gulf through the Strait of Hormuz, Reuters reported Wednesday.* Trump confronted Defense Secretary Pete Hegseth at Camp David last week, demanding an explanation as to why he was apparently misled regarding severe munitions shortages, The Washington Post reported Thursday.* Initial jobless claims rose to 199,000 in the week ended Aug. 1 from an upwardly revised 198,000 in the prior week, compared with the 205,000 forecast in a survey of analysts compiled by Bloomberg.* Wholesale inventories rose by 0.2% in June, revised downward from a 0.3% increase in the advance reading and following a 0.3% increase in May. Analysts in a Bloomberg-compiled poll expected no revision.* September West Texas Intermediate crude oil rose $2.65 to settle at $77.87 per barrel, while September Brent crude, the global benchmark, was last seen up $3.61 at $83.04.* Motorola Solutions (MSI) shares were up 8.2%, the top gainer on the S&P 500, after the company reported better-than-expected Q2 results.* Honeywell Aerospace's (HONA) shares were down 23%, the worst performer on the S&P 500 and Nasdaq, after fiscal Q2 earnings fell year-over-year as revenue missed estimates.

Dow JonesNasdaq CompositeS&P 500$HONA$MSI
Equities Fall Intraday Amid Report on Restrictive Hormuz Draft Plan
US Markets

Equities Fall Intraday Amid Report on Restrictive Hormuz Draft Plan

US benchmark equity indexes fell intraday after a report claimed that a draft plan to reopen the Strait of Hormuz would likely come with restrictive conditions.The Dow Jones Industrial Average was down 0.7% at 53,946.3 after midday Thursday, while the S&P 500 fell 0.2% to 7,706.2. The Nasdaq Composite was down 0.1% to 26,344.6. On Wednesday, the Dow recorded a new all-time high.All sectors were in the red, except energy and technology.Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC."The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress is essential before disrupted energy flows can realistically resume," ING Bank said in a report Thursday.West Texas Intermediate crude oil was up 3.6% at $77.95 a barrel intraday, while Brent rose 4.4% to $82.93.Treasury yields were higher, with the two-year rate rising 6.4 basis points to 4.2% and the 10-year rate up 5.5 basis points to 4.7%.Honeywell Aerospace's (HONA) fiscal second-quarter earnings fell year-over-year as revenue missed estimates. The stock plunged 20%, the worst performer on the S&P 500.AppLovin (APP) shares tumbled 18% intraday, the second-biggest decline on the benchmark equity index, after the mobile technology company reported a second-quarter revenue miss late Wednesday.Datadog (DDOG) followed AppLovin on the S&P 500, down 16%, even after the software maker reported a second-quarter beat and raised its full-year outlook.Spot gold fell 0.1% to $4,241.80 per troy ounce, while silver declined 1.2% to $61.57 per ounce.

Dow JonesNasdaq CompositeS&P 500$APP$DDOG$HONA
Wire

Top Midday Stories: Apollo Acquires EasyJet in Deal Valued at $7.68 Billion; Honeywell Aerospace Shares Fall Following Guidance Cut

The Dow Jones Industrial Average was down in late-morning trading Thursday, while the the S&P 500 and Nasdaq Composite were up slightly, as investors watch for developments in the process to reopen the Strait of Hormuz.In company news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement through which the Apollo fund will acquire the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. The deal values EasyJet at 5.7 billion British pounds, according to the filing. Apollo shares were down 1.2% around midday.Honeywell Aerospace (HONA) reported fiscal Q2 adjusted EPS late Wednesday of $1.87, down from $2.75 a year earlier. Fiscal Q2 revenue was $4.52 billion, up from $4.29 billion a year ago but below the FactSet consensus of $4.61 billion. For fiscal 2026, the company expects organic growth of 4% to 5%, down from its prior outlook of 7% to 9%. Analysts polled by FactSet expect full-year revenue of $18.91 billion. Honeywell Aerospace shares were down 20.3%.Sandisk (SNDK) reported fiscal Q4 adjusted earnings late Wednesday of $39.25 per diluted share, up from $0.29 a year earlier and above the FactSet consensus of $34.96. Fiscal Q4 revenue was $8.97 billion, up from $1.90 billion a year ago and above the FactSet consensus of $8.48 billion. For fiscal Q1, the company expects adjusted EPS of $44 to $46 on revenue of $10.30 billion to $10.80 billion. Analysts polled by FactSet expect $44.72 and $10.82 billion, respectively. Sandisk also said its board approved a share buyback expansion by an additional $14 billion, bringing the total remaining authorization to $15.5 billion. Sandisk shares were down 3.2%.Alphabet (GOOG, GOOGL) has started marketing a US investment-grade bond sale in as many as 10 parts, with maturities ranging from two to 40 years, Bloomberg reported Thursday, citing a person familiar with the matter. The tech giant is seeking up to $25 billion from the sale, according to a separate Bloomberg report, which cited people familiar with the matter. Alphabet Class C and Class A shares were down 0.7% and 0.8%, respectively.SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.5%.Western Digital (WDC) reported fiscal Q4 non-GAAP EPS late Wednesday of $3.56, up from $1.70 a year earlier and above the FactSet consensus of $3.31. Fiscal Q4 revenue was $3.75 billion, up from $2.1 billion a year ago and above the FactSet consensus of $3.70 billion. For fiscal Q1, the company expects non-GAAP EPS of $4.00, plus or minus $0.15, and revenue of $4.1 billion, plus or minus $100 million. Analysts polled by FactSet expect $3.84 and $4.06 billion, respectively. Western Digital shares were down 8.6%.AppLovin (APP) reported Q2 EPS late Wednesday of $3.76, up from $2.39 a year earlier and matching the FactSet consensus. Second-quarter revenue was $1.92 billion, up from $1.26 billion a year ago but below the FactSet consensus of $1.94 billion. For Q3, the company expects revenue of $2.06 billion to $2.09 billion, compared to the FactSet consensus of $2.08 billion. Applovin shares were down 20.1%.Datadog (DDOG) reported Q2 non-GAAP net income of $0.65 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.58. Second-quarter revenue was $1.12 billion, up from $826.8 million a year ago and above the FactSet consensus of $1.08 billion. For Q3, the company expects non-GAAP net income per share of $0.63 to $0.65 on revenue of $1.135 billion to $1.145 billion. Analysts polled by FactSet expect non-GAAP EPS of $0.61 on revenue of $1.11 billion. For full-year 2026, the company expects non-GAAP EPS of $2.50 to $2.54, up from its previous guidance of $2.3 to $2.44, and it raised its revenue guidance to $4.45 billion to $4.47 billion from $4.30 billion to $4.34 billion. Analysts polled by FactSet expect $2.42 and $4.35, respectively. Datadog shares were down 15.8%.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the Cyberspace Administration of China, Bloomberg reported Thursday. Palo Alto shares were down 1.7%.Microsoft-backed (MSFT) OpenAI asked a federal judge to dismiss Apple's (AAPL) trade-secrets lawsuit as meritless, Bloomberg reported Thursday, citing a court filing. Microsoft shares were up 1.7%, while Apple shares were down 0.3%.Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported Thursday, citing people familiar with the matter. DB shares were down 0.7%.Price: $128.12, Change: $-1.63, Percent Change: -1.25%

$AAPL$APO$APP$DB$DDOG$GOOG$GOOGL$HONA$MSFT$PANW$SNDK$SPCX$WDC
Wire

UBS Adjusts Honeywell Aerospace Price Target to $213 From $231, Maintains Neutral Rating

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $245, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $161.31, Change: $-42.34, Percent Change: -20.79%

$HONA
Japan

US Equity Markets End Lower as Oil Prices Rise Amid US-Iran Escalation, Threats to Saudi Oil Shipments

US equity indexes ended lower on Monday as crude oil prices rose amid escalating attacks by the US and Iran in the Middle East and the Houthis declaring a blockade of Saudi Arabian oil shipments.* Iran said mediators have been in touch with proposals on how to ease hostilities with the US after nine days of clashes, while tensions remained high after a threat by the Tehran-backed Houthi group against Saudi Arabia, Bloomberg reported. Houthis in Yemen said Monday they were imposing a naval blockade on Saudi Arabia, Reuters reported.* The Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey.* August West Texas Intermediate crude oil rose $0.45 to settle at $82.94 per barrel, while September Brent crude, the global benchmark, was last seen up $0.78 at $88.88.* Global Payments' (GPN) improved buyback capacity, constructive channel checks on the Genius platform and the Worldpay business, low bar for execution, and rising investor interest create a meaningful rerating potential, Morgan Stanley said in a Monday research note. Shares were up 5.8%, the top gainer on the S&P 500.* Honeywell Aerospace (HONA) shares were down about 4.3%, the worst performer on the Nasdaq, after UBS initiated the stock with a neutral rating and a $231 price target. The company also said it has signed new contracts to deliver its Surface Alerts runway safety technology to Aeromexico.

Dow JonesNasdaq CompositeS&P 500$GPN$HONA
Wire

Honeywell Aerospace's APU Portfolio is Under-Appreciated by Investors, RBC Capital Markets Says

Honeywell Aerospace's (HONA) auxiliary power unit, or APU, portfolio is under-appreciated by investors, and the company's strength in the business jet engine market is "substantial," RBC Capital Markets said in a Monday research note.The company has almost 20,900 APUs in service across in-service Airbus and Boeing (BA) aircraft, RBC said, adding that Honeywell Aerospace anticipates growing its total APU portfolio at a compound annual growth rate of 5% through 2030, equaling to about 5,800 additional APU sales.RBC further noted that while the company's share on business jet avionics has declined about 4% since 2015, its engine share has grown by about 4% as well. Honeywell Aerospace's commercial retrofit, modification, and upgrade, or RMU, investments will help offset some of the lost share, according to the note.RBC added that it believes continued supply chain improvement will be a positive for execution sentiment, and that investors are still early in the Honeywell Aerospace discovery phase.Honeywell Aerospace will issue its Q2 financial results on August 5.RBC maintained the company's outperform rating with a $300 price target.Price: $202.34, Change: $-9.29, Percent Change: -4.39%

$BA$HONA
Research

UBS Initiates Honeywell Aerospace at Neutral With $231 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $258.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Wire

TAT Technologies Expands Partnership With Honeywell Aerospace

TAT Technologies (TATT) said Tuesday it expanded its partnership with Honeywell Aerospace (HONA) to become the global authorized distributor of spare parts for the 331-200/250 auxiliary power unit platform.Under the deal, the company also extended its maintenance, repair, and overhaul licenses for this platform until 2036 and acquired three Honeywell Aerospace 131-9A APUs to expand its trading and leasing business, according to a statement.Shares of TAT Technologies rose over 5% in Tuesday trading.Price: $45.26, Change: $+2.93, Percent Change: +6.91%

$HONA$TATT
Research

Evercore ISI Initiates Honeywell Aerospace at In Line With $250 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $260.45, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

JPMorgan Initiates Honeywell Aerospace at Neutral With $255 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $261.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

Argus Research Initiates Coverage on Honeywell Aerospace With Buy Rating, $275 Price Target

Argus Research Initiates Coverage on Honeywell Aerospace With Buy Rating, $275 Price Target

$HONA
Wire

Honeywell Aerospace's Competitive Edge Lies in Its 'Develop Once, Deploy Everywhere' R&D Model, Morgan Stanley Says

Honeywell Aerospace's (HONA) competitive advantage lies in its "develop once, deploy everywhere" R&D model, allowing it to take common technologies like precision navigation and auxiliary power units and deploy them across commercial air transport, business aviation, defense, space and emerging platforms, Morgan Stanley said in a Wednesday note.This attribute improves R&D returns by providing high 20s% EBITDA margins, shortens product introduction cycles and increases the addressable market per technology platform, according to the note.When compared to peers, Honeywell Aerospace's revenue and EBIT compound annual growth rates between 2025 and 2028 are largely toward the low end of peers, the analysts said, adding that its EBITDA margins are the third highest among the peers, following TransDigm (TDG) and Howmet Aerospace (HWM).Morgan Stanley further noted Honeywell Aerospace's "standalone structure potentially provides greater flexibility to invest, reposition the portfolio, and pursue initiatives that could support improved long-term growth and margin performance."Morgan Stanley initiated coverage of the company's stock with an equal-weight rating and a $255 price target.Price: $230.27, Change: $-7.88, Percent Change: -3.31%

$HONA$HWM$TDG
Research

Morgan Stanley Initiates Honeywell Aerospace at Equalweight With $255 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $263.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

BMO Capital Initiates Honeywell Aerospace at Outperform With $276 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $266, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

Wells Fargo Initiates Honeywell Aerospace at Equalweight

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $264.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

Wells Fargo Initiates Honeywell Aerospace at Equalweight With $250 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $264.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

BNP Paribas Initiates Honeywell Aerospace at Neutral With $245 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $272.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

Jefferies Initiates Honeywell Aerospace at Hold With $235 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $272.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$HONA
Research

TD Cowen Initiates Honeywell Aerospace at Hold With $250 Price Target

Honeywell Aerospace (HONA) has an average rating of overweight and mean price target of $250.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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