Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Kroger (KR) reported what it called "strong second quarter results" and raised its FY22 adjusted EPS view [more]
- DocuSign (DOCU) was upgraded to Neutral at JPMorgan after the company's Q2 earnings beat [more]
- Zscaler (ZS) price targets were raised around the Street after reporting Q4 results that exceeded expectations [more]
- Zumiez (ZUMZ) was downgraded at B. Riley and William Blair after reporting "sluggish" sales trends in Q2 [more]
- Federal Reserve Governor Christopher Waller stated in a speech that he supports "another significant increase" in the central bank's policy rate [more]
2. WALL STREET CALLS:
- Virgin Galactic (SPCE) downgraded to Underperform from Market Perform at Bernstein [more]
- Navient (NAVI) downgraded to Equal Weight from Overweight at Barclays [more]
- BofA downgraded CarMax (KMX) to Underperform and double downgraded Sonic Automotive (SAH) to Underperform, citing reduced auto volume forecasts [more]
- Morgan Stanley upgraded Regeneron (REGN) to Overweight while Jefferies upgraded shares to Hold following yesterday's "very strong" high-dose Eylea data [more]
- Polestar (PSNY) initiated with a Sell at Redburn [more]
3. AROUND THE WEB:
- Apple (AAPL) warned by lawmakers about using Yangtze chips in new iPhone, FT reports [more]
- Digital World Acquisition (DWAC), the SPAC aiming to take former President Donald Trump's media company public, adjourned its shareholder meeting by a month, NY Times reports [more]
- Tesla (TSLA) alters leadership, sets new goals at Gigafactory, CNBC reports [more]
- Sea Limited's (SE) Shopee closed down operations in four countries, Reuters says [more]
- Roblox (RBLX) planning to debut ads in 2023, CNBC reports [more]
4. MOVERS:
- Coinbase Global (COIN), which was upgraded to Buy at Daiwa, was among the stocks levered to bitcoin that advanced as the cryptocurrency rallied [more]
- Elanco (ELAN) higher after Sachem Head disclosed an increased stake of 6% in the company as Scott Ferguson stepped down from the board [more]
- Crescent Energy (CRGY) lower after announcing a 5M share offering [more]
- Avantor (AVTR) decreases after Cleveland Research downgraded the shares to Neutral [more]
- Enphase Energy (ENPH) declines after Guggenheim downgraded the stock [more]
5. EARNINGS/GUIDANCE:
- Smith & Wesson Brands (SWBI) reported what CEO Mark Smith called "a challenging quarter" [more]
- RH (RH) cut its FY22 revenue growth view after report Q2 results [more]
- American Outdoor Brands (AOUT) reported Q1 sales and earnings that missed estimates [more]
- Sprinklr (CXM) Founder and CEO Ragy Thomas said the company "beat expectations across all key metrics" in Q2 [more]
- Restaurant Brands' (QSR) Burger King to invest $400M to accelerate growth in U.S. [more]
INDEXES:
The Dow rose 377.19, or 1.19%, to 32,151.71, the Nasdaq gained 250.18, or 2.11%, to 12,112.31, and the S&P 500 advanced 61.18, or 1.53%, to 4,067.36.