Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Chevron (CVX) reported upbeat Q2 results and named Eimear Bonner CFO [read more]
- Warner Bros.' (WBD) "Barbie" and Universal's (CMCSA) "Oppenheimer" took the top two spots at the U.S. box office in their debut weekend, grossing $155M and $80.5M, respectively [read more]
- Public Storage (PSA) will acquire Simply Self Storage BREIT (BX) for $2.2B [read more]
- FINMA has ordered corrective measures from Credit Suisse (CS) successor UBS (UBS) over Archegos while the U.S. Fed fined UBS $268.5M for Credit Suisse's Archegos credit risk [read more]
- FedEx (FDX) pilots have rejected a tentative labor agreement with the company [read more]
2. WALL STREET CALLS:
- Netflix (NFLX) upgraded to Outperform from Neutral at Baird [read more]
- Tesla (TSLA) downgraded to Neutral from Buy at UBS [read more]
- Shopify (SHOP) upgraded to Outperform from Market Perform at MoffettNathanson [read more]
- American Express (AXP) downgraded to Underweight from Neutral at Piper Sandler [read more]
- Interpublic Group (IPG), Stagwell (STGW) and Omnicom (OMC) were all cut to Equal Weight at Wells Fargo as the firm downgraded the advertising agencies in anticipation of a late cycle downturn [read more]
3. AROUND THE WEB:
- Altice USA (ATUS) has hired Goldman Sachs to help explore strategic alternatives for Cheddar News, NY Times reports [read more]
- Lyft (LYFT) is exploring strategic alternatives for its bike division, WSJ says [read more]
- FaZe (FAZE) is weighing offers from GameSquare (GAME) and Enthusiast Gaming (EGLX), Sports Business says [read more]
- Apple (AAPL) is using a chatbot to help employees with internal work, Bloomberg reports [read more]
- Tesla (TSLA) will discuss a factory plan for a new $24,000 car with India's commerce minister, Reuters reports [read more]
4. MOVERS:
- Sculptor Capital (SCU) rises after Rithm Capital (RITM) announced it will acquire the company for $639M [read more]
- Becton Dickinson (BDX) higher after CEO Tom Polen issued a statement regarding the FDA's clearance of BD Alaris Infusion System [read more]
- Gevo (GEVO) up after signing a Master Services Agreement with a subsidiary of McDermott International [read more]
- Kodiak Sciences (KOD) falls after Capital One downgraded the stock following the GLEAM and GLIMMER studies not meeting their primary efficacy endpoints [read more]
- Verrica (VRCA) lower after entering a non-binding term sheet for a term loan facility of up to $125M [read more]
5. EARNINGS/GUIDANCE:
- Domino's Pizza (DPZ) reported better-than-expected Q2 earnings [read more]
- Philips (PHG) reported Q2 results and provided FY23 guidance [read more]
- Bank of Hawaii (BOH) reported Q2 results, with CEO Peter Ho commenting the company "delivered solid financial results" [read more]
- Applied Digital (APLD) reported Q4 results and guidance for FY24 [read more]
- DarioHealth (DRIO) provided guidance for Q2 [read more]
INDEXES:
The Dow rose 183.55, or 0.52%, to 35,411.24, the Nasdaq gained 26.06, or 0.19%, to 14,058.87, and the S&P 500 advanced 18.30, or 0.40%, to 4,554.64.