Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Walmart (WMT) lowered its profit outlook for Q2 and FY23 [more]
- Coca-Cola (KO) reported upbeat Q2 results [more]
- Shopify (SHOP) is reducing its workforce by about 10% [more]
- Alibaba (BABA) is pursuing a primary listing in Hong Kong [more]
- 3M (MMM) reported upbeat Q2 results, cut its FY22 guidance, said its Aearo Technologies unit initiated chapter 11 proceedings and announced its intent to spin off its Health Care business [more]
2. WALL STREET CALLS:
- Paramount (PARA) downgraded to Sell from Buy at Goldman Sachs [more]
- MicroStrategy (MSTR) downgraded to Underperform from Hold at Jefferies [more]
- Roku (ROKU) was downgraded to Underperform at Wolfe Research and initiated with a Market Perform rating at Raymond James [more]
- Warner Bros. Discovery (WBD) reinstated with a Buy at Goldman Sachs [more]
- Apparel retailers Revolve Group (RVLV) and American Eagle (AEO) were downgraded to Underperform at BofA [more]
3. AROUND THE WEB:
- TuSimple (TSP) is seeking a buyer for operations in China, The Information reports [more]
- Coinbase (COIN) is under investigation by the SEC over cryptocurrency listing, Bloomberg reports [more]
- The NHTSA is investigating certain Ford Bronco (F) vehicles over reports of engine failure, WSJ reports [more]
- Mercury Systems (MRCY) was named a short by Glasshouse [more]
- Meta Platforms (META) employees are "bracing" for job cuts, Insider says [more]
4. MOVERS:
- Shell Midstream (SHLX) advances after announcing it will merge with Shell USA [more]
- Liberty Energy (LBRT) rises after reporting quarterly results and after providing Q3 guidance [more]
- Helix Energy (HLX) higher after reporting quarterly results and providing FY22 guidance [more]
- UBS (UBS) falls in New York after reporting quarterly results [more]
- TransUnion (TRU) declines after reporting quarterly results and providing guidance for Q3 and FY22 [more]
5. EARNINGS/GUIDANCE:
- General Motors (GM) reported mixed Q2 results and reiterated its FY22 guidance [more]
- General Electric (GE) reported upbeat Q2 earnings and revenue [more]
- NXP Semiconductors (NXPI) reported downbeat Q2 earnings [more]
- Logitech (LOGI) reported downbeat Q1 results and lowered its FY23 revenue growth outlook [more]
- McDonald's (MCD) reported upbeat Q2 earnings [more]
INDEXES:
Near midday, the Dow was down 174.98, or 0.55%, to 31,815.06, the Nasdaq was down 210.28, or 1.78%, to 11,572.39, and the S&P 500 was down 45.59, or 1.15%, to 3,921.25.