Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- An EU court upheld an antitrust ruling against Google (GOOGL) but reduced the fine on the company to EUR4.125B [more]
- Johnson & Johnson (JNJ) announced a $5B share repurchase program [more]
- Comcast (CMCSA) increased its share repurchase authorization to $20B [more]
- Twilio (TWLO) is reducing its workforce by roughly 11% [more]
- California AG Rob Bonta is suing Amazon (AMZN) over "artificially high prices" [more]
2. WALL STREET CALLS:
- Evercore double downgrades Block (SQ) to sell on "growing headwinds" [more]
- PayPal (PYPL) upgraded to Outperform from Market Perform at Raymond James [more]
- BofA upgrades SoFi Technologies (SOFI) to Buy on "meaningful catalyst path" [more]
- Nikola (NKLA) upgraded to Buy from Neutral at BTIG [more]
- Loop Capital cuts Match Group (MTCH) to Hold, sees potential for more earnings misses [more]
3. AROUND THE WEB:
- Netflix (NFLX) expects its ad-supported tier to reach 40M users by late 2023, WSJ reports [more]
- Zoom Video (ZM) to debut own email and calendar services, The Information says [more]
- Wells Fargo (WFC) settled mortgage forbearance claims for $94M, Reuters reports [more]
- Tesla (TSLA) is shifting its battery strategy to the U.S. for tax credits, WSJ says [more]
- Moderna (MRNA) has held talks to supply COVID-19 vaccines to China, Reuters reports [more]
4. MOVERS:
- Ferroglobe (GSM) higher after B. Riley initiated coverage of the stock with a Buy rating and $12 price target [more]
- Starbucks (SBUX) up after announcing its new targets for the next three years in its investor day presentation [more]
- Vintage Wine Estates (VWE) lower after reporting quarterly results [more]
- Altimmune (ALT) declines after announcing results from the Phase 1b study of pemvidutide [more]
- Quhuo (QH) falls in New York after being added to a provisional list of issuers identified under HFCAA [more]
5. EARNINGS/GUIDANCE:
- Dow (DOW) expects Q3 net sales to be $600M lower than consensus [more]
- Raytheon (RTX) reiterated its FY22 earnings and revenue outlook [more]
- O-I Glass (OI) raised its FY22 adjusted earnings guidance [more]
- Nucor (NUE) provided downbeat Q3 earnings guidance [more]
- Cross Country Healthcare (CCRN) raised its Q3 earnings and revenue guidance [more]
INDEXES:
The Dow rose 30.12, or 0.097%, to 31,135.09, the Nasdaq gained 86.10, or 0.74%, to 11,719.68, and the S&P 500 advanced 13.32, or 0.34%, to 3,946.01.