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Chinese Government Seizes Potentially Sensitive F-35 Parts

The Chinese government has taken possession of potentially sensitive F-35 stealth aircraft parts that were diverted to Hong Kong while being sent to the U.S. from Australia, Tony Capaccio of Bloomberg reports, citing people briefed on the incident. UPS (UPS) was shipping a cockpit canopy and weapons-bay door from an Australian military F-35 that was being sent to the U.S. for inspection, sources told Bloomberg. The parts were supplied by F-35 manufacturer Lockheed Martin (LMT) and coated with radar-absorbing material, two people added. The Chinese government took possession of the parts but so far hasn't returned them, they added.

Major Averages Surge Sharply Due to AI Stocks Rise

The major averages started the week sharply higher, aided by a rise in AI-related stocks. Intel surged, while AMD hit $1T in market cap as Meta's AI agent Muse reached the top of Apple's free app download charts. Meanwhile, President Donald Trump said in a social media post that he will "encourage" AI growth in an effort to compete globally.The top indexes were also buoyed by a sharp drop in oil prices, which have fallen to below $100 per barrel though still remain elevated. The move in oil prices comes despite the latest escalation in hostilities in the Middle East, as Iran-backed Houthis said they attacked Saudi Arabia with missiles and drones over the weekend.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:12 state attorneys general secured a settlement agreement with Paramount Skydanceover its proposed takeover of Warner Bros. DiscoveryAnthropic now expects its IPO to take place in November, WSJ reportsHP Inc.said its planning assumption is that industry-wide personal computer unit volumes decline roughly mid-single-digits in percentage terms in calendar year 2027Accentureand Anthropic are partnering to establish a team of embedded evaluatorsPriority Technologyreported better-than-expected Q2 results and reaffirmed its FY26 revenue guidance2. WALL STREET CALLS:Cienaupgraded to Outperform at Evercore ISI on sustained growthBNP downgraded Vail Resortson further declines in lift pricingBNP upgraded AT&Twith wireless competition "more rational"Flutterdowngraded to Neutral at Rothschild & Co RedburnArhausupgraded to Buy at Jefferies3. AROUND THE WEB:Eli LillyCEO told CNBC that a third of new GLP-1 pill patients are taking FoundayoSB Energy, a subsidiary of the Japanese conglomerate SoftBank, has delayed its IPO, NY Times reportsVolkswagen'sturnaround plan sees 4,000 additional job cuts at Porsche, Reuters reportsNissanis considering increasing its U.S. production with the launch of its 2027 Rogue crossover, Christian Meunier, chairman of Nissan Americas, told CNBCStarbuckshas signed a deal to set up a global capability center in the southern Indian city of Chennai and hire roughly 800 technology professionals, Reuters says4. MOVERS:New Era Energygained after its subsidiary entered into a 20-year power purchase agreement with Luminant, an affiliate of VistraVista Goldincreased after entering into an agreement with Artemis Gold to be acquired for $2.83 per shareModernaadvanced after announcing late-breaking data will be presented at ESMO Congress 2026Einridefell after announcing a collaboration with Nvidiato advance autonomous truckingUPSclosed lower after BofA lowered its price target on the stock5. EARNINGS/GUIDANCE:Novo Nordiskprovided guidance for pipeline sales for 2035Ennisreported Q2 results, with EPS lower year-over-yearZJK Industrialreported results for H1, with CEO Ning Ding commenting it was a period of "strong revenue growth"Turning Point Brandsreaffirmed its outlook for FY26Nuvinireported H1 results, with operating revenue lower year-over-yearINDEXES:The Dow rose 366.19, or 0.71%, to 52,048.83, the Nasdaq gained 599.55, or 2.26%, to 27,122.09, and the S&P 500 advanced 114.20, or 1.49%, to 7,764.70.