Alphabet's AI spending plans and Tesla's earnings miss pressure stock futures, while oil prices rise on Iran tensions. ServiceNow and Honeywell show strength, but IBM and Dover face challenges. Eli Lilly plans a 2027 filing for a new obesity drug.
The stock market saw gains as technology and financial sectors rebounded. Honeywell's split companies showed divergent performance, with Aerospace outperforming Technologies. Major banks like Goldman Sachs and Wells Fargo rallied ahead of Q2 earnings season, with Goldman Sachs noted for its strong M&A advisory role.
Stocks surged Thursday after President Trump canceled planned strikes against Iran. Honeywell shares rose on positive analyst outlooks ahead of a business separation. Trucking stocks rebounded, while SpaceX IPO dominates market attention.
Quantinuum debuted on Nasdaq with a $15.7 billion valuation, raising $1.68 billion in an upsized IPO. The quantum computing company, formed from Honeywell's division and Cambridge Quantum, received $100 million from the US government.
Quantinuum raised $1.68 billion in an upsized IPO, pricing shares at $60 and opening trading at $68 on Nasdaq. The quantum computing firm, a merger of Honeywell's quantum division and Cambridge Quantum, aims to advance trapped ion-based computing.
Honeywell Aerospace CEO Jim Currier is focused on proving the company's value as a stand-alone entity post-spin-off. The company targets significant earnings and cash flow growth by 2030, capitalizing on commercial aviation and defense markets, despite recent supplier issues linked to the Middle East war.
Honeywell Aerospace CEO Jim Currier is focused on showcasing the company's potential as a standalone entity post-spin-off. With aggressive growth targets and a strong backlog, the company aims to capitalize on commercial aviation and defense markets, despite recent supply chain concerns.
Honeywell reported Q1 2026 adjusted EPS of $2.45, beating estimates, but missed revenue expectations at $9.1B vs $9.3B expected. The industrial conglomerate announced it's selling Workflow Solutions to American Industrial Partners and set a June 29 date for Aerospace spin-off. Jim Cramer argues the breakup will eliminate conglomerate discount and create value, maintaining $250 price target.
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
