FTAI Aviation Approves $500 Million Buyback as AI, SpaceX Shares Rise

According to CNBC, FTAI Aviation's board approved a $500 million share buyback program, sending the aircraft engine supplier's shares up 5%. Shares tied to artificial intelligence infrastructure also climbed after several losing sessions, with CoreWeave up more than 4%, Nebius nearly 5%, Lumentum up 8%, Coherent up 6% and Dell up 5%. SpaceX rose 5% after announcing its next Starship test flight for Sept. 22 and saying it plans to deploy Starlink V3 satellites on the mission. Honeywell Technologies gained almost 3% after leadership said at Morgan Stanley's Laguna Industrials Conference that strong second-quarter orders and a solid start to the third quarter support a favorable setup heading into year end and 2027. SK Hynix rose 2% and Intel gained 5% after a Reuters report said the companies were in talks to manufacture memory chips in the U.S. for the first time, though SK Hynix said no decisions have been made on any partnership. J.B. Hunt Transport Services fell nearly 13% after warning that third-quarter earnings may decline 5% to 10% from the previous three-month period, citing internal adjustments tied to rising purchase transportation rates. Expedia slipped about 1% after Morgan Stanley downgraded the stock to underweight, while energy shares fell after U.S. oil prices dropped more than 3% on a report that energy inventories rose last week.