Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- HP Inc. (HPQ) reported better-than-expected Q2 earnings and narrowed its FY23 EPS guidance [read more]
- American Airlines (AAL) boosted its Q2 adjusted earnings guidance and maintained its FY23 earnings outlook [read more]
- Advance Auto Parts (AAP) reported downbeat Q1 results, with CEO Tom Greco saying the quarter was below his expectations [read more]
- Franklin Resources (BEN) to acquire Putnam Investments from Great-West Lifeco [read more]
- The Federal Reserve's latest Beige Book report states that economic activity was "little changed overall" in April and early May [read more]
2. WALL STREET CALLS:
- Avis Budget (CAR) upgraded to Buy from Hold at Deutsche Bank [read more]
- Chevron (CVX) upgraded to Neutral from Underweight at JPMorgan [read more]
- Ambarella (AMBA) downgraded to Sector Weight from Overweight at KeyBanc [read more]
- Goldman Sachs initiated Six Flags (SIX) with a Sell rating and amusement park peer SeaWorld (SEAS) with a Buy [read more]
- BTIG upgraded Q2 Holdings (QTWO) to Buy from Neutral [read more]
3. AROUND THE WEB:
- Twilio (TWLO) has been urged by activist investor Legion Partners to consider making changes to its board, Information reports [read more]
- Nvidia (NVDA) CEO Jensen Huang said he is open to a partnership with Intel (INTC), DigiTimes says [read more]
- The FTC has settled a privacy lawsuit with Amazon's (AMZN) Ring, Reuters reports [read more]
- Tesla (TSLA) will give an early glimpse of its revamped Model 3 in Shanghai this week, Bloomberg reports [read more]
- A new class action lawsuit claims Delta (DAL) misled customers on its climate commitments, Verge reports [read more]
4. MOVERS:
- Xylem (XYL) rises after Baird upgraded the stock to Outperform [read more]
- Teck Resources (TECK) higher in New York after Bloomberg reported Glencore (GLNCY) is closer to increasing its bid for the company [read more]
- Verizon (VZ) up after announcing $145.7M digital modernization contract with USPS [read more]
- Eldorado Gold (EGO) lower in New York after it announced a C$135M bought deal financing [read more]
- Bumble (BMBL) falls after Evercore ISI said President Tariq Shaukat stepping down is “incrementally negative” [read more]
5. EARNINGS/GUIDANCE:
- HP Enterprise (HPE) provided a "beat and raise" report for Q2 [read more]
- Intel (INTC) expects its Q2 revenue to be at the higher end of its outlook [read more]
- Ambarella (AMBA) reported Q1 results and provided guidance for Q2 [read more]
- Box (BOX) raised its FY24 outlook and provided Q2 guidance [read more]
- Hovnanian (HOV) reported Q2 results and provided guidance, with CEO Ara Hovnanian saying he is “pleased” with the company’s performance [read more]
INDEXES:
The Dow fell 134.51, or 0.41%, to 32,908.27, the Nasdaq lost 82.14, or 0.63%, to 12,935.29, and the S&P 500 declined 25.69, or 0.61%, to 4,179.83.