Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Netflix (NFLX) reported better-than-expected Q2 earnings, noting that paid net losses were not as high as had been forecast [more]
- Abbott (ABT) provided a "beat and raise" report for Q2 [more]
- Baker Hughes (BKR) reported downbeat Q2 earnings and revenue [more]
- Biogen (BIIB) also provided a "beat and raise" report for Q2 [more]
- Merck (MRK) said its Phase 3 KEYNOTE-412 trial did not meet its primary endpoint [more]
2. WALL STREET CALLS:
- Stifel upgrades Netflix (NFLX) to Buy following Q2 report [more]
- Atara Biotherapeutics (ATRA) downgraded to Sell from Neutral at Citi [more]
- Arista Networks (ANET) and Juniper Networks (JNPR) double downgraded to Underperform at BofA [more]
- Alibaba (BABA) upgraded to Outperform from Market Perform at Bernstein [more]
- PayPal (PYPL) downgraded to Peer Perform from Outperform at Wolfe Research [more]
3. AROUND THE WEB:
- Macau plans to reopen casinos on July 23, Bloomberg reports [more]
- Airbus (EADSY) CEO Guillaume Faury expects the supply chain crisis to last until 2023, FT reports [more]
- Uniper (UNPRF) is close to a bailout deal with the German government, Bloomberg says [more]
- JPMorgan (JPM) is taking on direct lenders with its leveraged loans unit, FT reports [more]
- Vivendi's (VIVHY) Canal Plus is in talks to acquire Orange's (ORAN) film, television, and pay-TV units, Variety says [more]
4. MOVERS:
- Rhythm Pharmaceuticals (RYTM) higher after announcing the French ANSM and HAS granted pre-marketing authorization for setmelanotide [more]
- Datadog (DDOG) up after Bernstein initiated coverage of the stock with an Outperform rating and $172 price target [more]
- Vaxart (VXRT) gains after reporting phase 1 clinical data on its oral tablet COVID-19 vaccine [more]
- Revolution Medicines (RVMD) falls after announcing a 11.5M share offering [more]
- Vale (VALE) declines in New York after updating its FY22 iron ore, copper production estimates [more]
5. EARNINGS/GUIDANCE:
- Bath & Body Works (BBWI) cut its Q2 and FY22 guidance [more]
- Nasdaq (NDAQ) reported upbeat Q2 results and announced a 3-for-1 stock split [more]
- Capri Holdings (CPRI) set a new annual revenue target of $8B, up from a prior $7B target [more]
- Badger Meter (BMI) reported better-than-expected Q2 earnings and revenue [more]
- Northern Trust (NTRS) reported mixed Q2 results [more]
INDEXES:
Near midday, the Dow was up 113.63, or 0.36%, to 31,940.68, the Nasdaq was up 218.44, or 1.86%, to 11,931.58, and the S&P 500 was up 36.75, or 0.93%, to 3,973.44.