Major Averages Decline Amid Geopolitical Tensions
The major averages were broadly lower near noon following a geopolitical flare-up tied to the Strait of Hormuz, with conflicting headlines around a potential U.S.-Iran incident driving volatility. Iran's Navy said it blocked "American-Zionist" warships from entering the Strait, according to state TV reports, while a separate dispatch from Fars said that two missiles struck a U.S. warship near Jask island after it ignored warnings. Neither of these reports has been independently confirmed, though U.S. Central Command wrote in a post on X that "no U.S. Navy ships have been struck."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:GameStophas submitted aeBayfor $125 per share in cash and stockAmerican Express Global Business Travelby Long Lake for $9.50 per shareNorwegian Cruise Linereportedand cut its FY26 earnings outlookAmazonannounced the launch ofPinnacle Westand reiterated its FY26 guidance2. WALL STREET CALLS:OppenheimerAirbnb (ABNB) to Outperform as organic revenue levers materializeGlobalFoundriesto Overweight at Cantor FitzgeraldHSBCAMDto Hold on limited upside potentialAlphabetto Hold from Buy at Freedom BrokerPrudentialto Underweight at Morgan Stanley3. AROUND THE WEB:SoftBank-backedOpay Digital has been working with Citigroup, Deutsche Bank, and JPMorgan Chaseas the platform prepares for an IPO, Bloomberg reportsAs Asia further integrates into Nvidia'sAI business ecosystem, the list of Asian stocks benefitting from partnerships is getting longer, Bloomberg saysUnited Airlineshit a vehicle and light post on a nearby highway during its approach to Newark Liberty International Airport, Bloomberg reportsAnthropic is nearing a deal with Blackstone, Goldman Sachs, and other Wall Street firms to form a $1.5B joint venture that would market AI tools to private equity-backed companies, WSJ saysMetais facing a trial in New Mexico that could prompt a judge to order sweeping changes to how Facebook, Instagram, and WhatsApp operate, Reuters reports4. MOVERS:Blaizegains after signing awith WinmateAMC Entertainmentincreases after announcing it sawat its theaters this weekendProPetro Holdingdeclines after announcing a proposed convertibleCogentlower after, with revenue missing consensusADT Inc.falls after announcing a5. EARNINGS/GUIDANCE:Tyson Foods, with EPS and revenue beating consensusRLJ Lodging Trustwith CEO Leslie Hale commenting, "We are pleased with our strong first quarter results"Berkshire Hathaway, with revenue higher year-over-yearL.B. Foster, with CEO John Kasel commenting, "We carried the favorable momentum generated at the end of 2025 into our first quarter"Twist Biosciencesand raised its guidance for FY26INDEXES:Near midday, the Dow was down 0.85%, or 422.60, to 49,076.67, the Nasdaq was down 0.35%, or 87.08, to 25,027.36, and the S&P 500 was down 0.40%, or 29.11, to 7,202.05.
