Iran's Strait of Hormuz Fully Open, Oil Prices Fall
Stocks are climbing and oil prices are falling after Iran announced that the Strait of Hormuz is now "completely open" for commercial traffic for "the remaining period of ceasefire" in Lebanon. In a series of social media posts, President Trump added that while the strait is now "completely open and ready for business and full passage," the U.S. naval blockade "will remain in full force" until a deal with Iran is "complete." Trump also stated that a U.S. deal with Iran "is not tied, in any way, to Lebanon."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Netflixshares have slumped after the streaming companyfor the second quarter that underwhelmed Wall Street and co-founder and Chairman Reed Hastings said he will leave the board when his current term endsAlcoashares slipped after the aluminum company said first quarterby higher costs and operational disruptionsKnight-Swifttraded down after the transportation and logistics services provideradjusted EPS that missed the average estimateAuto safety system supplier Autolivrose after the company reported stronger than expectedFord Motorisabout 1.4M F-150 pickup trucks in the U.S. following a NHTSA investigation into reports of unexpected downshifts2. WALL STREET CALLS:Cloroxto Underweight at JPMorganMizuhoSTMicroelectronicsto Outperform and Texas Instrumentsto Neutral on AI server and industrial demandHowever, MizuhoNXP Semiconductorsto Underperform from Outperform on auto headwindsBNPChevronto Outperform and Exxon Mobilto Neutral on lasting higher oil pricesExelonwasto Neutral or equivalent ratings at Mizuho, Barclays and BMO Capital3. AROUND THE WEB:Applesaw iPhone shipments in China jump 20% in Q1, outperforming peers despite a 4% overall market decline driven by higher chip costs and supply chain disruptions, Reuters saysGerresheimerhas rejected a takeover bid from Silganand there are no longer any discussions between the two companies, Reuters reportsControl Empresarial de Capitales, Carlos Slim and his family's investment vehicle, has sold $497M of stock in PBF Energy, cutting its stake by more than a third, Bloomberg saysDisney, which is hosting its first Super Bowl in 20 years next February, has told advertisers it thinks they should pay $10M for a 30-second commercial during the game's 2027 telecast, Variety reportsThe Nintendo Switch 2was the best-selling video game console in Japan last month with 448,494 units sold, VGChartz says4. MOVERS:Critical Metalshigher in New York after announcing the Government of Greenland hasof the remaining 50.5% interest in the Tanbreez Mining Greenland to the companyRepay Holdingsgains after Forager Capitalthe company for $4.80 per shareUSA Rare Earthincreases after appointing ChaitanBadger Meterfalls afterand providing guidance for FY26Ericssonlower in New York after5. EARNINGS/GUIDANCE:Autoliv, with EPS and revenue beating consensusRegions Financial, with CEO John Turner commenting, "Our results reflect the strength of our franchise"State Street, with EPS and revenue beating consensusSanuwave Healthfor Q1Ally Financial, with CEO Michael Rhodes commenting on "a strong start to the year" and "momentum we've established across our core franchises"INDEXES:Near midday, the Dow was up 2.21%, or 1,073.46, to 49,652.18, the Nasdaq was up 1.44%, or 346.53, to 24,449.23, and the S&P 500 was up 1.26%, or 88.50, to 7,129.78.
