Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Meta Platforms (META) reported downbeat Q2 results and provided lower-than-expected Q3 revenue guidance [more]
- Qualcomm (QCOM) reported upbeat Q3 earnings and revenue [more]
- Spirit Airlines (SAVE) terminated its merger agreement with Frontier (ULCC) and agreed to be acquired by JetBlue (JBLU) [more]
- Ford (F) reported upbeat Q2 results and increased its dividend [more]
- Merck (MRK) reported upbeat Q2 earnings and revenue and narrowed its FY22 guidance [more]
2. WALL STREET CALLS:
- Align Technology (ALGN) double downgraded to Sell from Buy at Goldman Sachs [more]
- Kraft Heinz (KHC) upgraded to Neutral from Sell at Goldman Sachs, upgraded to Buy at Stifel [more]
- Beyond Meat (BYND) lower after JPMorgan says McDonald's (MCD) test of McPlant done in U.S. [more]
- R5 Capital downgraded Best Buy (BBY) to Sell from Buy and Jefferies also downgraded Best Buy to Hold after the company lowered guidance [more]
- Bank of America downgraded Verizon (VZ) to Neutral from Buy [more]
3. AROUND THE WEB:
- Muddy Waters' Carson Block says short Sunrun (RUN) [more]
- Meta Platforms is cutting funding for news publishers, Axios reports [more]
- The FDA's chief of office of sciences has taken a job at Philip Morris (PM), NY Times says [more]
- Jack Ma is planning to relinquish control of Alibaba (BABA) affiliate Ant Group, WSJ says [more]
- Twitter (TWTR) CEO Parag Agarwal is seeking to soothe advertisers' concerns over the Musk deal, FT reports [more]
4. MOVERS:
- Bausch Health (BHC) falls after judge issues order in Xifaxan patent fight [more]
- Sunnova Energy (NOVA) and Hertz (HTZ) rise after reporting quarterly results [more]
- First Solar (FSLR) gains after entering an agreement to supply 2.4 GW of PV solar modules to Intersect Power [more]
- Etsy (ETSY) higher after reporting quarterly results and providing Q3 revenue guidance [more]
- Community Health (CYH) and Coursera (COUR) decline after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Best Buy (BBY) guided for sharp declines in comparable sales for Q2 and FY23 [more]
- Teladoc (TDOC) reported downbeat Q2 results and cut its FY22 earnings guidance [more]
- Comcast (CMCSA) reported upbeat Q2 earnings and revenue [more]
- MasterCard (MA) reported upbeat Q2 results [more]
- Honeywell (HON) provided a "beat and raise" report for Q2 [more]
INDEXES:
Near midday, the Dow was up 198.25, or 0.62%, to 32,395.84, the Nasdaq was up 48.13, or 0.40%, to 12,080.56, and the S&P 500 was up 25.08, or 0.62%, to 4,048.69.