Stock Movers: Halliburton, Smuckers, Oracle
On this episode of Stock Movers: - Halliburton (HAL), along with shares in several energy and oil companies, rose toward the end of the week on heightened tensions in the Middle East. Iran fired hundreds of ballistic missiles against Israel following an unprecedented direct attack on its nuclear facilities, ramping up a conflict between sworn enemies that threatens to engulf the Middle East and disrupt global oil supplies. Multiple waves of missiles targeting Israeli cities amount to the most forceful step yet by Tehran since Israel's overnight raids killed top Iranian generals and badly damaged key military infrastructure. Israel said it identified missiles launched from the Islamic Republic and reported explosions from interceptions and falling debris from incoming projectiles. There was dramatic video footage of at least one large explosion in Tel Aviv, and reports of explosions over Jerusalem. - Smuckers (SJM) declined the most in nearly four decades after saying US tariffs increasing costs in its coffee business will hurt profit, continuing a challenging run for the biggest US packaged food producers. The company, which owns the Folgers and Cafe Bustelo coffee brands, said adjusted earnings this fiscal year will be as much as $9.50 a share. The impact of higher coffee costs and US levies reduced that forecast by roughly $1 a share, Smuckers said. Shares sank 16% on Tuesday in New York, the biggest drop in data compiled by Bloomberg that extends back to 1988. The stock had risen about 1.6% this year through Monday's close, less than the S&P 500 Index's gain of roughly 2%. - Oracle (ORCL) shares soared to a record high after the software maker projected a 70% gain in cloud infrastructure sales this fiscal year, giving a bullish outlook for the closely watched business. The company, long known for its database software, has been gaining traction in its effort to become a major player in the business of cloud computing — renting out computing power and storage — by targeting clients focused on artificial intelligence work. Earlier this year, it announced a joint venture dubbed Stargate to provide OpenAI with massive sums of computing power. The shares gained 13% to $199.85 at the close on Thursday in New York, marking the biggest single-day increase in a year. Oracle had already climbed 17% in the last month as investors grew more optimistic that tariffs and other geopolitical issues wouldn't disrupt the software industry.
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Iran has said it doesn't want a nuclear bomb, and Trump's own intelligence agencies had assessed recently it still hadn't committed to developing such a weapon. Trump, however, had dismissed those findings and had declined to rule out joining the Israeli strikes, which had also killed several prominent Iranian military officials and nuclear scientists. The US strikes could immediately open American assets in the Middle East to attack since Iran had warned it would retaliate if Trump ordered an attack. Trump's combative language in the last couple of days had also triggered new threats from the Iran-backed Houthi rebels in Yemen and led Iranian officials to call the US Israel's 'partner in crime.' Iran's retaliation could also come in the form of cyber attacks against American or Israeli interests by hackers linked to the regime in Tehran. Earlier Saturday, the State Department said the US had begun evacuating US citizens from Israel. The agency organized two flights to Athens from Tel Aviv with about 70 US citizens, family member and permanent residents, it said. 'I hope that the Iranians are measured in their response but there will be a response — this is an act of war by the United States against a foreign country, which has not attacked us lately,' said Barbara Slavin, a distinguished fellow at the Stimson Center. 'Americans are at risk all over the Middle East, all over the world.' Iran's official Islamic Republic News Agency reported that authorities in Isfahan confirmed multiple simultaneous explosions in Natanz and Isfahan early Sunday, describing them as 'aggressions' near the two nuclear facilities. Fears of an impending strike had eased after Trump's team said on Thursday he would make a decision within two weeks. On Friday, the foreign ministers of France, Germany and the UK had met with Iranian officials Geneva in a bid to prevent a US attack. The continued fighting has evoked fears of a regional conflict that results in massive civilian casualties, and disrupts the flow of energy and other trade through the region. About a fifth of the world's daily oil supply goes through the Strait of Hormuz, which lies between Iran and its Gulf Arab neighbors such as Saudi Arabia. For days, Trump had faced conflicting advice from his supporters, after he campaigned for president on promises to keep the US out of foreign wars, pointing to American involvement in Afghanistan and Iraq. MAGA allies including longtime Trump supporter Steve Bannon, have warned against any US intervention, insisting this is Israel's fight to finish. Other Republicans had been urging Trump to join the fight against Iran, arguing that Tehran was more vulnerable after days of air strikes by Israel, and there was an opportunity to deliver on the president's long insistence the regime cannot be allowed to have a nuclear weapon. Trump and his advisers had suggested in recent days that any strike would be limited. Trump briefed Senate Majority Leader John Thune and House Speaker Mike Johnson, according to people familiar with the matter. 'This is not the start of a forever war,' Senator Jim Risch, the Idaho Republican and chairman of the Senate Foreign Relations Committee, said on X. 'There will not be American boots on the ground in Iran. This was a precise, limited strike, which was necessary and by all accounts was very successful.' Energy experts have raised concerns that crude flows in the region could be imperiled if Iran and its proxies retaliate in response to a US attack. Fears have focused on the Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf that is a key transit point for 26% of the world's oil trade. Houthis have previously disrupted Red Sea shipping, with attacks on ships in the Bab el Mandeb strait forcing vessels to reroute around Africa. A broader attack — including potentially planting naval mines — on the Strait of Hormuz could have even wider consequences, since it's such a vital artery for the region's oil and gas output. What If Iran Tries to Close the Strait of Hormuz?: QuickTake US ally Israel had launched a surprise attack on Iran on June 13, saying the imminent threat of the regime in Tehran securing nuclear weapons had to be neutralized. Iran's military infrastructure was seriously damaged and a number of its top generals and atomic scientists were killed. But Israel lacked the heavy bombs and B-2 stealth jets believed to be required to destroy nuclear sites buried deep underground. Tehran had responded to Israel's strikes by firing waves of ballistic missiles and drones, breaching aerial defenses, striking several cities and causing unprecedented damage. 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