Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Netflix (NFLX) reported better-than-expected Q2 earnings but lower-than-expected revenue [read more]
- Tesla (TSLA) reported better-than-expected Q2 results and said it still expects to produce around 1.8M vehicles for the year [read more]
- IBM (IBM) reported upbeat Q2 earnings but downbeat Q2 revenue [read more]
- Johnson & Johnson (JNJ) provided a "beat and raise" report for Q2, adding that a Kenvue (KVUE) exchange offer could come as soon as the "coming days" [read more]
- Keurig Dr Pepper (KDP) agreed to acquire a 33% ownership of La Colombe for $300M [read more]
2. WALL STREET CALLS:
- Estee Lauder (EL) downgraded to Equal Weight from Overweight at Barclays [read more]
- Carvana (CVNA) downgraded to Underperform from Sector Perform at RBC Capital [read more]
- AB InBev (BUD) assumed with Overweight from Equal Weight at Morgan Stanley [read more]
- Omnicell (OMCL) downgraded to Underweight from Overweight at Wells Fargo [read more]
- Skyworks (SWKS) downgraded on lack of catalysts at Barclays [read more]
3. AROUND THE WEB:
- The FTC will pause its in-house trial against Microsoft's (MSFT) takeover of Activision Blizzard (ATVI), opening the door for possible settlement talks, Bloomberg reports [read more]
- Apple (AAPL) is facing challenges making a larger screen for the iPhone 15 Pro, Information reports [read more]
- Tesla (TSLA) wants to double the production capacity of its assembly plant outside of Berlin, NY Times reports [read more]
- Pfizer's (PFE) facility in North Carolina was heavily damaged by a tornado, WTVD reports [read more]
- TSMC (TSM) is delaying the start of mass production at its Arizona facility until 2025 due to labor shortages, Nikkei Asia says [read more]
4. MOVERS:
- Zions Bancorp (ZION) increases after reporting quarterly results [read more]
- XP Inc. (XP) higher in New York after Credit Suisse upgraded the stock to Neutral [read more]
- Vir Biotechnology (VIR) falls after its PENINSULA trial of VIR-2482 did not meet primary or secondary efficacy endpoints [read more]
- Discover (DFS) lower after reporting quarterly results and stating that it will pause share repurchases amid its compliance review [read more]
- SAP (SAP) slips in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- United Airlines (UAL) reported Q2 results and provided guidance for FY23 and Q3 [read more]
- Las Vegas Sands (LVS) reported Q2 EPS and revenue that beat consensus [read more]
- Alcoa (AA) reported Q2 results, with CEO Roy Harvey commenting he expects to see financial improvement in Q3 [read more]
- Travelers (TRV) reported Q2 results [read more]
- Philip Morris (PM) reported Q2 results, revised its FY23 guidance, and provided its outlook for Q3 [read more]
INDEXES:
The Dow rose 163.97, or 0.47%, to 35,225.18, the Nasdaq lost 294.71, or 2.05%, to 14,063.31, and the S&P 500 declined 30.85, or 0.68%, to 4,534.87.