Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Microsoft (MSFT) cut its Q4 earnings and revenue guidance citing unfavorable foreign exchange rate movement [more]
- HP Enterprise (HPE) reported downbeat Q2 earnings and revenue [more]
- Ciena (CIEN) also reported lower-than-expected Q2 results [more]
- Ford (F) reported a 4.5% year-over-year decline in May U.S. vehicle sales and plans for $3.7B of investments in manufacturing facilities across Ohio, Michigan and Missouri [more]
- Chewy (CHWY) reported upbeat Q1 earnings [more]
2. WALL STREET CALLS:
- Pinterest (PINS) and Snap (SNAP) were both downgraded to Neutral at Piper Sandler [more]
- Twilio (TWLO) downgraded to Equal Weight from Overweight at Barclays [more]
- Paramount (PARA) downgraded to Underperform from Outperform at Wolfe Research [more]
- Oppenheimer upgrades SolarEdge (SEDG) and Wolfspeed (WOLF) to Outperform [more]
- Starry (STRY) downgraded to Neutral from Buy at Goldman Sachs [more]
3. AROUND THE WEB:
- Wolfpack is short ZoomInfo (ZI), questioning the "legitimacy and legality" of its practices [more]
- Bear Cave said in a short report that it is "doubtful" about RCI Hospitality (RICK) [more]
- Amazon (AMZN) will shutter its Kindle bookstore in China in 2023, WSJ reports [more]
- Apple (AAPL) will unveil major changes to its iPad software next week, Bloomberg reports [more]
- Local Bounti (LOCL) was named a short by Helios Capital [more]
4. MOVERS:
- Repare Therapeutics (RPTX) higher after announcing global license and collaboration agreement with Roche (RHHBY) for camonsertib [more]
- MongoDB (MDB) higher after reporting quarterly results [more]
- UiPath (PATH) rises after providing FY23 revenue guidance [more]
- Callon Petroleum (CPE) lower after announcing a 6.5M share offering [more]
- Moderna (MRNA) slips after announcing an amended COVID-19 supply agreement with the European Commission [more]
5. EARNINGS/GUIDANCE:
- GameStop (GME) reported better-than-expected Q1 revenue [more]
- NetApp (NTAP) delivered earnings upside in fiscal Q4 report [more]
- Hormel (HRL) reported upbeat Q2 results but cut its FY22 earnings guidance [more]
- PureStorage (PSTG) provided a "beat and raise" report for Q1 [more]
- Corning (GLW) backed its guidance for Q2 and FY22 [more]
INDEXES:
The Dow rose 435.05, or 1.33%, to 33,248.28, the Nasdaq gained 322.44, or 2.69%, to 12,316.90, and the S&P 500 advanced 75.59, or 1.84%, to 4,176.82.