Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Salesforce (CRM) reported upbeat Q2 earnings and revenue, but cut FY23 revenue guidance [more]
- Snowflake (SNOW) reported mixed Q2 results, but raised its FY23 product revenue guidance [more]
- Nvidia (NVDA) reported upbeat Q2 earnings, but guided for Q3 revenues to fall below $6B due to sharp declines in Gaming and Professional Visualization [more]
- Novartis (NVS) announced its plan to spin-off its biosimilars division Sandoz [more]
- Peloton (PTON) reported downbeat Q4 results and announced 760 layoffs [more]
2. WALL STREET CALLS:
- Freyr Battery (FREY) upgraded to Buy from Neutral at Goldman Sachs [more]
- Lennar (LEN) was downgraded to Underperform from Neutral at BofA, which also cut KB Home (KBH) and Toll Brothers (TOL) to Neutral as it shuffled its home builder ratings [more]
- La-Z-Boy (LZB) downgraded to Market Perform at Raymond James on near-term challenges [more]
- Redburn starts Shutterstock (SSTK) with Buy, Getty Images (GETY) with Neutral [more]
- Stride (LRN) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
3. AROUND THE WEB:
- Activist JCP is pushing Kirby (KEX) for a breakup or sale, Bloomberg reports [more]
- The U.S. and China are near a deal that may prevent Chinese company delistings, WSJ reports [more]
- Sonos (SONO) working on new flagship speaker codenamed Optimo 2, Verge says [more]
- Citi (C) plans to wind down its Russian consumer bank, WSJ reports [more]
- Lufthansa (DLAKY) pilots have rejected the company's wage offer, Reuters reports [more]
4. MOVERS:
- Plug Power (PLUG) increases after signing a hydrogen supply agreement with Amazon (AMZN) and after granting Amazon a warrant to acquire up to 16M of its shares [more]
- Bloom Energy (BE) higher after BofA resumed coverage of the stock with a Buy rating [more]
- FIGS (FIGS) gains after Baron Capital Chairman and CEO Ron Baron discussed his investment in the company in an interview on CNBC [more]
- Splunk (SPLK) lower after reporting quarterly results [more]
- Burlington Stores (BURL) lower after reporting quarterly results and after cutting its FY22 guidance [more]
5. EARNINGS/GUIDANCE:
- Abercrombie & Fitch (ANF) reported downbeat Q2 results [more]
- Dollar General (DG) reported upbeat Q2 results and increased its share buyback by $2B [more]
- Dollar Tree (DLTR) reported mixed Q2 results and cut its FY22 earnings outlook [more]
- Coty (COTY) reported upbeat Q4 revenue [more]
- Autodesk (ADSK) reported upbeat Q2 results and provided Q3 and FY23 guidance [more]
INDEXES:
The Dow rose 322.55, or 0.98%, to 33,291.78, the Nasdaq gained 207.74, or 1.67%, to 12,639.27, and the S&P 500 advanced 58.35, or 1.41%, to 4,199.12.