Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Kroger (KR) provided a "beat and raise" report for Q1 [more]
- Revlon (REV) has filed for Chapter 11 bankruptcy reorganization [more]
- The Reserve Bank of India lifted business restrictions imposed on MasterCard (MA) [more]
- Tesla (TSLA) CEO Elon Musk will reiterate his intentions to purchase Twitter (TWTR) in staff meetings today, The Wall Street Journal says [more]
- Amazon (AMZN) announced Prime Day will be held on July 12-13 [more]
2. WALL STREET CALLS:
- Boeing (BA) upgraded to Buy from Neutral at Citi [more]
- Sally Beauty (SBH) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- Unity Software (U) initiated with a Sell at Benchmark [more]
- Jefferies analyst Laurence Alexander downgraded five chemical company stocks, saying their risk profile no longer looks attractive in the face of higher interest rates [more]
- UBS analyst Lloyd Walmsley lowered the firm's price targets on Alphabet (GOOGL), Meta Platforms (META), Pinterest (PINS) and Snap (SNAP) as part of a broader research note on U.S. Online Advertising names [more]
3. AROUND THE WEB:
- Hindenburg Research is short Ebix (EBIX), claims company has a "glaring fake revenue problem" [more]
- Perion Network (PERI) mentioned cautiously by Bear Cave's Dorsey [more]
- McDonald's (MCD) will pay $1.3B to settle probes in France, Bloomberg reports [more]
- Tesla (TSLA) has increased electric vehicle prices in the U.S. by $1,000-$6,000, Inside EVs reports [more]
- Consolidated Edison (ED) is working with Barclays (BCS) on a potential sale of its renewable energy portfolio, Bloomberg reports [more]
4. MOVERS:
- NexTier Oilfield (NEX) gains after providing Q2 and FY22 guidance [more]
- Acadia (ACAD) higher after Jefferies upgraded the stock to Buy [more]
- Ginkgo Bioworks (DNA) lowers after Jefferies lowered the firm's price target on the stock [more]
- Carvana (CVNA) declines after Sam Harland, the partner responsible for Tiger Global Management's bet on the company, is said to have left the hedge fund [more]
- Warner Bros Discover (WBD) falls after JPMorgan reinstated coverage of the stock with a Neutral rating and $22 price target [more]
5. EARNINGS/GUIDANCE:
- Jabil (JBL) provided a "beat and raise" report for Q3 [more]
- Steel Dynamics (STLD) provided upbeat Q2 earnings guidance [more]
- PROG Holdings (PRG) gave lower-than-expected Q2 and FY22 guidance [more]
- KLA Corp. (KLAC) reiterated its Q2 earnings and revenue guidance [more]
- Commercial Metals (CMC) reported upbeat Q3 earnings [more]
INDEXES:
The Dow fell 741.46, or 2.42%, to 29,927.07, the Nasdaq lost 453.06, or 4.08%, to 10,646.10, and the S&P 500 declined 123.22, or 3.25%, to 3,666.77.