Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update The Egyptian-owned, Maltese-flagged container ship Safeen Prestige (IMO: 9593517), which was damaged in the first week of the U.S.-Iran conflict following an Iranian strike, has reportedly sunk in the Strait of Hormuz. According to Bloomberg , Pakistan's hydrographic service said the container ship sank ...
Container Ship Sinks In Hormuz After Iranian Strike Last Month; UBS Gives Latest Strait Update The Egyptian-owned, Maltese-flagged container ship Safeen Prestige (IMO: 9593517), which was damaged in the first week of the U.S.-Iran conflict following an Iranian strike, has reportedly sunk in the Strait of Hormuz. According to Bloomberg , Pakistan's hydrographic service said the container ship sank last week, leaving only an oil slick on the surface of the water in the Hormuz chokepoint. The IRGC torched the SAFEEN PRESTIGE in the Strait of Hormuz and continues to reignite the fire. Now they’re illegally closing the strait This is pure maritime terrorism, not politics. The Iranian Revolutionary Guard is a global terrorist organization and must be treated as such. pic.twitter.com/u22UNaYSc5 — سيف الدرعي| Saif alderei (@saif_aldareei) March 27, 2026 Satellite imagery from the EU's Copernicus Browser appears to confirm this, showing the container ship on fire in late March and then disappearing from imagery by last Thursday. The Safeen Prestige is owned by Transmar International Shipping of Egypt and managed by GFS Ship Management of Dubai, according to the maritime blog TradeWinds. It is also listed as a Maltese-flagged container ship on VesselFinder. Data from the risk intelligence platform Sayari shows the ownership structure of the container ship: The latest on Strait traffic comes from UBS analyst Henri Patricot, who noted as of Tuesday morning, there were still "mixed developments" in the maritime chokepoint. Here's more from Patricot: We mentioned on Friday that flows via the Strait picked up slightly as two oil tankers and a LNG carrier came out of the Gulf but this is still very limited and we continue to estimate an oil shortfall of ~12Mb/d, pre-SPR release. Over the weekend, an Iranian spokesperson said that Iraqi ships would be allowed to pass through the Strait. It is not clear how that is different from previous comments that the Strait would be open to fri...
The S&P 500 (SNPINDEX:^GSPC) edged up 0.08% to 6,616.85, the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.10% to 22,017.86, while the Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.18% to 46,584.46 as oil‑driven geopolitical anxiety capped risk appetite. Tech heavyweights lagged, with Apple (NASDAQ:AAPL) sliding after reports of engineering issues and possible delays for its first foldabl...
The S&P 500 (SNPINDEX:^GSPC) edged up 0.08% to 6,616.85, the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.10% to 22,017.86, while the Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.18% to 46,584.46 as oil‑driven geopolitical anxiety capped risk appetite. Tech heavyweights lagged, with Apple (NASDAQ:AAPL) sliding after reports of engineering issues and possible delays for its first foldable iPhone. Bloomberg later reported that the launch is on track for September. AI‑chip name Arm Holdings (NASDAQ:ARM) fell after Morgan Stanley downgraded the stock. Broadcom (NASDAQ:AVGO) soared following an announcement of expanded collaboration with Anthropic, the company behind Claude AI. Continue reading
Apple (NASDAQ:AAPL) closed Tuesday at $253.5, down 2.07%. Shares moved lower after reports of engineering challenges for a foldable iPhone and softer App Store growth. Investors will now be watching future updates on foldable hardware timing as well as momentum in its services segment. Trading volume reached 61.1 million shares, coming in nearly 30% above its three-month average of 47.6 million sh...
Apple (NASDAQ:AAPL) closed Tuesday at $253.5, down 2.07%. Shares moved lower after reports of engineering challenges for a foldable iPhone and softer App Store growth. Investors will now be watching future updates on foldable hardware timing as well as momentum in its services segment. Trading volume reached 61.1 million shares, coming in nearly 30% above its three-month average of 47.6 million shares. Apple IPO'd in 1980 and has grown 197,407% since going public. The S&P 500 (SNPINDEX:^GSPC) inched up 0.09% to close at 6,618, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.10% to finish at 22,018. Within consumer electronics, industry peers Microsoft (NASDAQ:MSFT) closed at $372.29 (-0.16%) and Alphabet (NASDAQ:GOOGL) ended at $305.46 (+1.82%) as investors weighed AI and hardware roadmaps. Apple shares dropped following a report from Tokyo-based Nikkei Asia about engineering issues with its foldable iPhone. However, the shares trimmed losses after Bloomberg reported that the device is still set to debut in September. Investors jumped to get ahead of any potential official announcements of shipment delays amid high expectations for a key premium phone offering. Continue reading
Wall Street's major averages closed mixed on Tuesday, with the S&P 500 ( SP500 ) and the Nasdaq Composite ( COMP:IND ) ending higher after reports that Pakistan is mediating a two-week ceasefire deal between the U.S. and Iran. The benchmark S&P 500 ( SP500 ) closed +0.1%, while the Nasdaq Composite ( COMP:IND ) ended +0.1%, and the blue-chip Dow ( DJI ) finished -0.2%. Here are the 3 stocks to wat...
Wall Street's major averages closed mixed on Tuesday, with the S&P 500 ( SP500 ) and the Nasdaq Composite ( COMP:IND ) ending higher after reports that Pakistan is mediating a two-week ceasefire deal between the U.S. and Iran. The benchmark S&P 500 ( SP500 ) closed +0.1%, while the Nasdaq Composite ( COMP:IND ) ended +0.1%, and the blue-chip Dow ( DJI ) finished -0.2%. Here are the 3 stocks to watch on the day: Levi Strauss & Co. ( LEVI ) rallied 6.0% in postmarket trading to $20.89 after beating estimates with its first-quarter earnings report. The apparel company reported consolidated net revenue up 14% on a reported basis and 9% higher organically, with particular strength in its Beyond Yoga business, which saw organic revenue growth of 23%. Management raised full-year guidance, now expecting EPS in the range of $1.42 to $1.48. Algoma Steel ( ASTL ) rallied 5.2% into Tuesday’s close after announcing it formed a joint venture with Canadian defense manufacturer Roshel to establish a center for ballistic steel production. The Roshel Algoma Defence JV will enable sovereign production of ballistic steel solutions to support defense procurements, including light utility vehicles, the Domestic Arctic Mobility Enhancement program, ships, and submarines. GoPro ( GPRO ) announced a restructuring plan that includes a workforce reduction of approximately 145 employees, or roughly 23% of its staff, as the action camera maker works to lower operating costs and improve leverage. The company expects to incur charges of $11.5 million to $15 million related to severance payments and healthcare benefits, with job cuts expected to be substantially completed by year-end. More on GoPro, Levi Strauss, etc. Levi Q1 Earnings Preview: Watching For Sales Growth Beyond Jeans Levi Strauss: I Don't Like Their Growth But I Like The Business And I Can Leverage Growth Algoma Steel Group Inc. (ASTL) Q4 2025 Earnings Call Transcript GoPro cutting workforce by 23% as part of restructuring Algoma St...
Kura Sushi (KRUS) delivered earnings and revenue surprises of +57.90% and +2.67%, respectively, for the quarter ended February 2026. Do the numbers hold clues to what lies ahead for the stock?
Kura Sushi (KRUS) delivered earnings and revenue surprises of +57.90% and +2.67%, respectively, for the quarter ended February 2026. Do the numbers hold clues to what lies ahead for the stock?
The dollar index (DXY00 ) on Tuesday fell by -0.11%. The dollar was under pressure on Tuesday on concerns that the lingering Iran war could lead to a spike in energy prices that derail the economy. Losses in the dollar were limited after US Feb capital goods new orders nondefense...
The dollar index (DXY00 ) on Tuesday fell by -0.11%. The dollar was under pressure on Tuesday on concerns that the lingering Iran war could lead to a spike in energy prices that derail the economy. Losses in the dollar were limited after US Feb capital goods new orders nondefense...
May WTI crude oil (CLK26 ) on Tuesday closed up +0.54 (+0.48%), and May RBOB gasoline (RBK26 ) closed down -0.0030 (-0.09%). Crude oil and gasoline prices settled mixed on Tuesday, with crude oil posting a 4-week nearest-futures high. Crude prices rose on concerns that the war in Iran will...
May WTI crude oil (CLK26 ) on Tuesday closed up +0.54 (+0.48%), and May RBOB gasoline (RBK26 ) closed down -0.0030 (-0.09%). Crude oil and gasoline prices settled mixed on Tuesday, with crude oil posting a 4-week nearest-futures high. Crude prices rose on concerns that the war in Iran will...
“This is why you guys come to these games,” Vincent Kompany had said, and here especially. For the quality, the chaos, and the goals, the noise, the drama and the history that invades every moment, even when it seems to be finally left behind. Another wild night at the Santiago Bernabéu seemed to have set up for another barely believable finish, another of those crazy comebacks, but in the end Bay...
“This is why you guys come to these games,” Vincent Kompany had said, and here especially. For the quality, the chaos, and the goals, the noise, the drama and the history that invades every moment, even when it seems to be finally left behind. Another wild night at the Santiago Bernabéu seemed to have set up for another barely believable finish, another of those crazy comebacks, but in the end Bayern Munich held on, setting up what is sure to be a special second leg instead. Goals from Luis Díaz and Harry Kane had given Bayern a 2-0 lead here and at that stage there was an authority about them that had seemed incontestable, but Madrid it seemed always have a response and a Kylian Mbappé goal brought about a revival, a rebellion that threatened to secure a draw. But there was Bayern’s 40-year-old goalkeeper Manuel Neuer to keep them at bay, just. Continue reading...
Elon Musk said any damages he may win during his upcoming trial against OpenAI should be awarded to the artificial intelligence startup’s nonprofit, rather than to himself. Musk said in a Tuesday court filing that the goal of his lawsuit is to “unwind OpenAI’s for-profit conversation and restructuring” and return any funds used for that effort to OpenAI’s charitable arm. He said he plans to seek a...
Elon Musk said any damages he may win during his upcoming trial against OpenAI should be awarded to the artificial intelligence startup’s nonprofit, rather than to himself. Musk said in a Tuesday court filing that the goal of his lawsuit is to “unwind OpenAI’s for-profit conversation and restructuring” and return any funds used for that effort to OpenAI’s charitable arm. He said he plans to seek a court order restoring the firm’s status as a nonprofit research organization. “The remedies Musk intends to seek are strictly tied to his purpose in bringing this lawsuit: to prevent the subordination of a public charity — one he co-founded and for which he was the primary supporter during its formative years — to private, for-profit interests,” he said in the filing. Starting later this month, Musk is set to face off against OpenAI and Microsoft Corp. in front of a jury over his claims that the startup abandoned its founding mission when it took billions of dollars in backing from the software stalwart and planned its restructuring. Previously, Musk indicated that he planned to seek as much as $134 billion in damages from OpenAI and Microsoft. Read More: OpenAI Calls for Investigation Into Musk by California, Delaware Musk’s filing was reported earlier by the Wall Street Journal. It comes a day after Jason Kwon , chief strategy officer at OpenAI, urged the attorneys general of California and Delaware to investigate Musk for potential “improper and anti-competitive behavior” in his efforts to block the firm’s restructuring. Musk co-founded OpenAI with Sam Altman and others in 2015, but the former business partners have become bitter foes in recent years. Musk left OpenAI’s board in 2018 and in 2023 co-founded the artificial intelligence company xAI, which has become one of OpenAI’s main rivals. Last February, OpenAI rejected Musk’s unsolicited bid to acquire the assets of the nonprofit that controls the company for $97.4 billion. Months later, the company completed its for...