BRC News & Events

The major averages were broadly higher near noon as oil pulls back, though the ceasefire between the U.S. and Iran continues to be fragile amid new attacks in the Strait of Hormuz. However, U.S. Defense Secretary Pete Hegseth said the ceasefire "certainly holds" and claimed that two U.S. commercial ships have already "safely transited the strait, showing the lane is clear."Meanwhile, earnings remain strong and AI capital expenditures continue to act as a structural tailwind. There is persistent capital flow into semis and hyperscalers, with expectations for massive multi-year spend cycles anchoring estimates higher. Under the surface, dispersion remains high. Strong prints are still being rewarded while weaker forward visibility is getting punished.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Palantirprovided areport for Q1PayPalreportedand provided its outlook for Q2 and FY26Coinbaseannounced plans to, or 700 employeesPfizerreported better-than-expected Q1 results and reiterated its FY26 guidancePinterestreportedand provided Q2 revenue guidance2. WALL STREET CALLS:Ulta Beautyto Buy at BofA on improved earnings flywheelRobloxto Neutral at Piper Sandler on lack of visibilityArgusChipotleto Buy, expects comp growth to accelerateStephensRepay Holdings, sees "two binary outcomes"Tractor Supplyto Neutral at Piper Sandler3. AROUND THE WEB:Nissanis planning to cut roughly 10% of its European workforce and consolidate production lines at its Sunderland Plant as part of a broader restructuring effort, while exploring partnerships such as with Chery to utilize excess capacity and improve financial performance, FT saysBerkshirehas selected Gen Re chairman Charlie Shamieh to succeed Ajit Jain, Vice Chairman of Insurance Operations, when Jain decides to retire, Bloomberg reportsAppleis planning to release a new "Create a Pass' feature for its next iPhone software update, which will allow users to build and customize their digital tickets and gift cards in the Wallet app, Bloomberg saysTeslaCEO Elon Musk has indicated the European Union will soon green-light the company's "Full Self-Driving" system, but emails from European regulators show skepticism to the technology and its safety benefits, Reuters reportsMajor lenders including JPMorgan, Morgan Stanley, and Sumitomo Mitsuiare seeking to offload portions of growing AI-driven data center debt exposure-linked to heavy borrowing by companies like Oracleand CoreWeave, FT reports4. MOVERS:Backblazehigher afterand raising its guidance for FY26EverQuote, Digital Oceanand BRC Inc.increase afterDigi Power Xgains afterwith Cerebras SystemsGeneDxlower afterand lowered its guidance for FY26BellRing Brandsand Adtranfalls after5. EARNINGS/GUIDANCE:Portillo'swith EPS and revenue missing consensusIPG Photonicsand provided guidance for Q2, with CEO Mark Gitin commenting, "I am pleased to share that first-quarter revenue came in above our expectations"Neuroneticsand backed its guidance for FY26Surgery Partnersand backed its guidance for FY26, with CEO Eric Evans commenting, "We are encouraged by our solid start to 2026"Expeditors, with EPS and revenue beating consensusINDEXES:Near midday, the Dow was up 0.49%, or 239.72, to 49,181.62, the Nasdaq was up 1.00%, or 249.79, to 25,317.59, and the S&P 500 was up 0.74%, or 53.38, to 7,254.13.

After Honeywell (HON) announced that it has agreed to sell its Productivity Solutions and Services business to Brady Corporation (BRC) for $1.4B in an all-cash transaction, Citi said the sale multiple is "relatively lower than what we had previously expected," but it thinks the business is impacted by some cyclicality and a challenging operating environment, including higher memory pricing, leading to the "more muted valuation." However, the firm views the transaction as "a longer-term incremental positive" that should position the stand-alone automation business to generate higher profitability, added the analyst, who has a Buy rating and $265 price target on Honeywell shares.

Brady Corporation (BRC) announced that the Company has entered into a definitive agreement with Honeywell (HON) to acquire Honeywell's Productivity Solutions and Services business, a provider of mobile computers, barcode scanners and printing solutions, in an all-cash transaction for $1.4 billion, representing a transaction value of approximately 8x EBITDA for the twelve months ended December 31, 2025.

Honeywell (HON) announced that it has agreed to sell its Productivity Solutions and Services business to Brady Corporation (BRC) for $1.4B in an all-cash transaction. The transaction is expected to be completed in the second half of 2026 and is subject to regulatory approvals and customary closing conditions. The transaction follows the review of strategic alternatives Honeywell commenced in July 2025 for PSS and its Warehouse and Workflow Solutions business to further simplify the company's portfolio alongside the planned spin-off of its Aerospace business, which is expected to be complete in the third quarter of 2026. Honeywell remains actively engaged in its assessment of strategic alternatives for WWS, which operates commercially under the brand names Intelligrated and Transnorm.