{"id":64732,"date":"2026-07-13T17:38:12","date_gmt":"2026-07-13T21:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-launches-third-night-of-strikes-on-iran-shutterstock-ceo-steps-down\/64732\/"},"modified":"2026-07-13T17:38:12","modified_gmt":"2026-07-13T21:38:12","slug":"u-s-launches-third-night-of-strikes-on-iran-shutterstock-ceo-steps-down","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/u-s-launches-third-night-of-strikes-on-iran-shutterstock-ceo-steps-down\/64732\/","title":{"rendered":"U.S. Launches Third Night of Strikes on Iran; Shutterstock CEO Steps Down"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. Central Command (CENTCOM)<\/strong> launched a <strong>third consecutive night of strikes<\/strong> against Iranian targets at 4:45 p.m. ET to degrade capabilities in the <strong>Strait of Hormuz<\/strong>.<\/li>\n<li><strong>Shutterstock (<a href=\"\/stock\/SSTK\">SSTK<\/a>)<\/strong> CEO <strong>Paul Hennessy<\/strong> has resigned effective immediately, with CFO <strong>Rik Powell<\/strong> stepping in as interim chief.<\/li>\n<li><strong>T3 Defense (<a href=\"\/stock\/DFNS\">DFNS<\/a>)<\/strong> approved a <strong>1-for-50 reverse stock split<\/strong> to regain compliance with <strong>Nasdaq\u2019s $1.00 minimum bid<\/strong> requirement.<\/li>\n<li><strong>Crude <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a><\/strong> surged as Iran reported explosions on <strong>Kish Island<\/strong> and threatened to close the strategic <strong>Strait of Hormuz<\/strong> shipping lane.<\/li>\n<\/ul>\n<h2>U.S. Escalates Military Action Against Iran<\/h2>\n<p>At the direction of the Commander in Chief, <strong>U.S. Central Command<\/strong> began a new wave of strikes against Iranian forces on Monday afternoon. This marks the <strong>third straight night<\/strong> of offensive operations aimed at imposing &quot;heavy costs&quot; on Iranian military assets. The Pentagon stated these actions are necessary to protect <strong>commercial shipping<\/strong> and civilians from ongoing Iranian aggression in the <strong>Strait of Hormuz<\/strong>.<\/p>\n<p>Reports from Iranian state television confirmed at least <strong>two explosions on Kish Island<\/strong>, a key commercial and strategic hub in the Persian Gulf. Earlier strikes by U.S. forces reportedly utilized <strong>unmanned surface vessels (sea drones)<\/strong> for the first time in combat to target the <strong>Bandar Abbas Naval Base<\/strong>. In retaliation, the <strong>IRGC<\/strong> has claimed responsibility for strikes against U.S.-allied targets in <strong>Jordan, Bahrain, and Kuwait<\/strong>.<\/p>\n<h2>Leadership Shakeup at Shutterstock<\/h2>\n<p><strong>Shutterstock (<a href=\"\/stock\/SSTK\">SSTK<\/a>)<\/strong> announced a sudden leadership transition as <strong>Paul Hennessy<\/strong> stepped down from his roles as CEO and board member. Hennessy, who led the company for four years, will remain as a <strong>non-executive advisor<\/strong> through August 7, 2026. The board has appointed current CFO <strong>Rik Powell<\/strong> to the interim CEO role while they begin a search for a permanent successor.<\/p>\n<p>The transition comes at a challenging time for the stock, which has fallen over <strong>50% year-to-date<\/strong> and recently touched a 52-week low. The company plans to hire a <strong>strategic advisor<\/strong> to help refine its long-term business strategy. Investors are looking toward the <strong>Q2 2026 earnings call<\/strong> on August 6 for further clarity on the company&#39;s direction.<\/p>\n<h2>T3 Defense Moves to Save Nasdaq Listing<\/h2>\n<p><strong>T3 Defense (<a href=\"\/stock\/DFNS\">DFNS<\/a>)<\/strong> has officially approved a <strong>1-for-50 reverse stock split<\/strong> in a bid to regain compliance with <strong>Nasdaq listing rules<\/strong>. The company received a deficiency notice in May after its share price remained below the <strong>$1.00 minimum<\/strong> for 30 consecutive days. The move follows a period of extreme volatility where the stock lost nearly <strong>98% of its value<\/strong> over the past year.<\/p>\n<p>The reverse split will significantly reduce the number of outstanding shares while nominally increasing the price per share. Management hopes this restructuring, combined with recent <strong>debt-to-equity conversions<\/strong> by CEO Menachem Shalom, will stabilize the balance sheet. Despite these efforts, the company continues to face high <strong>cash burn rates<\/strong> as it navigates the competitive defense technology sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. Central Command (CENTCOM) launched a third consecutive night of strikes against Iranian targets at 4:45 p.m. ET 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