-- Adient (ADNT) said Monday it acquired a foam production plant in Romulus, Michigan, from automotive supplier Woodbridge to expand its operational footprint.
The deal included the purchase of the existing building and land, production equipment, and inventory, according to a statement.
Plant employees will be absorbed into Adient's workforce, the company said.
Price: $22.02, Change: $-0.12, Percent Change: -0.54%
Hilton Worldwide (HLT) and Marriott International (MAR) were among the top performers in the lodging sector in Q1, as stronger-than-expected US revenue per available room drove sector upgrades, BofA Securities said in a Monday note.BofA said US RevPAR rose 3.8% in Q1, with hotel C-corps tracking about 80 basis points ahead of Street expectations, supported by resilient leisure demand and improving pricing trends across key segments.Hilton and Marriott tracked above consensus RevPAR forecasts for the quarter, with Hilton up about 2.8% and Marriott about 3%, BofA said. Choice Hotels International (CHH) was slightly negative but still outperformed relative to Street estimates, according to the report.Across the broader sector, the bank raised 2026 EBITDA estimates by about 30 basis points on average, citing a stronger-than-expected Q1 start, with gains led by luxury and resort segments, while economy and midscale chains remained weaker but are expected to improve as comparisons ease later in the year.Among lodging REITs, performance also exceeded expectations, with RevPAR rising about 2.5% in Q1, roughly 60 basis points above consensus, led by select-service and higher-end hotel REITs amid continued strength in leisure and urban travel demand, BofA added.BofA has buy ratings on Marriott and Hilton, with price targets of $395 and $375, respectively, while Choice is rated underperform with a $120 price target.Price: $333.49, Change: $-2.14, Percent Change: -0.64%
TeraWulf (WULF) and Cipher (CIFR) have significant base case upside as bitcoin-to-data-center conversion valuations are looking "increasingly attractive," Morgan Stanley said in a Monday note on Bitcoin mining companies.TeraWulf is set to drive growth upside as its expanded power volumes in its Maryland and Kentucky sites enable it to further develop data center capacity for artificial intelligence firms, Morgan Stanley analysts said. They noted that the company continues to close deals for building and leasing powered facilities for big AI players, including Alphabet's (GOOG, GOOGL) Google.The company's Q1 financial results show the significant progress in its conversion plans, with over half of its revenue coming from high-performance computing hosting, with more compute capacity expected to come online in Q2 and throughout the rest of the year, according to the note.The upward revision in TeraWulf's valuation comes from about $4 billion in extra value generated by the acquisition of additional megawatts of power capacity, partially offset by around a $600 million reduction in cash committed to building out new sites, the note said.Morgan Stanley kept the company's stock rating at overweight and raised the price target to $41.50 from $37.Price: $20.23, Change: $+0.23, Percent Change: +1.15%
All three major US stock indexes were down in late-morning trading Monday, as investors parse ongoing developments in peace talks between the US and Iran.Iran has offered to reopen the Strait of Hormuz in exchange for an end to the US' blockade of the country and an end to the war, media outlets reported Monday, citing officials.In company news, Microsoft (MSFT) and OpenAI said Monday they have amended their agreement so that Microsoft will no longer pay a revenue share to OpenAI, and its license will now be non-exclusive. Microsoft will remain OpenAI's primary cloud partner, and its Azure will receive the first shipments of OpenAI products, unless Microsoft cannot and chooses not to support the necessary capabilities, the companies said. Separately, industry checks indicate that OpenAI is working with Qualcomm (QCOM) and MediaTek to develop smartphone processors, a TF International Securities analyst said. Microsoft shares were down 0.7% around midday, while Qualcomm shares were down 0.2%.ARC Resources said Monday it has entered into a definitive agreement to be acquired by Shell (SHEL) in a cash-and-share deal valued at about 22 billion Canadian dollars ($16.17 billion). Under the terms of the deal, ARC shareholders will receive 0.40247 of a Shell share and CA$8.20 in cash consideration in exchange for each ARC share they own, representing a total consideration of CA$32.80 per ARC share. The deal is expected to close in H2, ARC said. Shell shares were down 1.3%.Meta Platforms' (META) $2 billion acquisition of AI startup Manus was blocked by China's National Development and Reform Commission, media outlets reported Monday, citing the Chinese regulator. Meta shares were down 0.1%.Eli Lilly (LLY) said Monday it has agreed to acquire Ajax Therapeutics for up to $2.3 billion in cash. The deal includes an upfront payment and subsequent payouts based on the achievement of certain clinical and regulatory milestones, the company said. Eli Lilly shares were down 0.5%.Verizon Communications (VZ) reported Q1 adjusted earnings Monday of $1.28 per diluted share, up from $1.19 a year earlier and above the FactSet consensus analyst estimate of $1.21. First-quarter operating revenue was $34.44 billion, up from $33.49 billion a year ago but below the FactSet consensus of $34.82 billion. For 2026, the company said it expects adjusted EPS of $4.95 to $4.99, above the FactSet consensus of $4.90. Verizon shares were up 3.6%.Price: $422.11, Change: $-2.49, Percent Change: -0.59%