Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Boeing (BA) announced that Delta (DAL) will modernize its fleet with up to 130 737 MAX aircraft [more]
- Bank of America (BAC) reported mixed Q2 results [more]
- Goldman Sachs (GS) reported better-than-expected Q2 earnings and revenue [more]
- Merck's (MRK) deal for Seagen (SGEN) is unlikely to be completed by earnings, according to The Wall Street Journal [more]
- I Squared is exploring an acquisition of Fresh Del Monte (FDP), Bloomberg reports [more]
2. WALL STREET CALLS:
- Paramount (PARA) was downgraded to Underweight at Morgan Stanley while Fox Corp. (FOXA) was cut to Equal Weight [more]
- Yum! Brands (YUM) double upgraded to Buy from Sell at Goldman Sachs [more]
- Deutsche downgrades General Motors (GM) to Hold on growing earnings risk [more]
- Brinker (EAT) downgraded to Neutral from Buy at Goldman Sachs [more]
- Mizuho initiated coverage of Kraft Heinz (KHC) with a Buy rating [more]
3. AROUND THE WEB:
- A survey shows that McDonald's (MCD) franchisees would support a no-confidence vote on CEO Chris Kempczinski, CNBC reports [more]
- FDA panelists say new data could have led to a different result for Amarin's (AMRN) Vascepa, STAT says [more]
- Boeing (BA) CEO Dave Calhoun is defending his record at the company, FT reports [more]
- Coinbase (COIN) is "temporarily shutting down" its U.S. affiliate program, Insider says [more]
- GSK (GSK) CEO Emma Walmsley said the now completed Haleon (HLN) spinoff will help deal with "perennial underperformance," FT says [more]
4. MOVERS:
- Rhythm Pharmaceuticals (RYTM) higher after NICE recommended imcivree for treating obesity [more]
- Grab Holdings (GRAB) rises in New York after JPMorgan upgraded the stock to Overweight [more]
- Royal Caribbean (RCL) gains after acquiring cruise ship Endeavor for $275M [more]
- New York Mortgage Trust (NYMT) falls after Keefe Bruyette downgraded the stock to Market Perform from Outperform with a $3 price target [more]
- Chimera Investment (CIM) declines after Barclays lowered the firm's price target on the stock to $9 from $11 and kept an Underweight rating on the shares [more]
5. EARNINGS/GUIDANCE:
- Prologis (PLD) provided a "beat and raise" report for Q2 [more]
- Synchrony (SYF) reported a year-over-year decrease in Q2 earnings [more]
- Ashland (ASH) raised its FY22 revenue guidance [more]
- Charles Schwab (SCHW) reported upbeat Q2 results [more]
- Guaranty Bancshares (GNTY) reported better-than-expected Q2 earnings [more]
INDEXES:
Near midday, the Dow was up 170.85, or 0.55%, to 31,459.11, the Nasdaq was up 163.80, or 1.43%, to 11,616.22, and the S&P 500 was up 31.07, or 0.80%, to 3,894.23.