Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Palantir (PLTR) and Microsoft (MSFT) are partnering on AI services to the U.S. Defense and Intelligence Community [read more]
- Eli Lilly (LLY) provided a "beat and raise" report for Q2 [read more]
- Warner Bros. Discovery (WBD) reported downbeat Q2 results, with the company noting that its Q2 loss included a $9.1B goodwill impairment charge [read more]
- Under Armour (UAA) issued a "beat and raise" report for Q1 [read more]
- Apple (AAPL) announced changes to its Digital Markets Act compliance plan [read more]
2. WALL STREET CALLS:
- Disney (DIS) downgraded to Neutral from Buy at Seaport Research [read more]
- Arm (ARM) upgraded to Outperform at Daiwa [read more]
- Sarepta (SRPT) upgraded to Outperform at Evercore ISI [read more]
- Bumble (BMBL) was double downgraded to Underperform at BofA and also saw its rating cut at no less than five other firms with management resetting its go forward strategy [read more]
- Yeti (YETI) was upgraded to Buy at BofA on drivers of potential upside [read more]
3. AROUND THE WEB:
- Roblox (RBLX) has been blocked in Turkey due to content that a top official said could lead to child abuse, Bloomberg reports [read more]
- Google (GOOGL) and Meta (META) entered a secret deal to target ads for Instagram to teenagers on YouTube, FT reports [read more]
- Taiwan Semiconductor Manufacturing Company (TSM) is facing challenging making its U.S. facility, NY Times says [read more]
- BHP Group (BHP) is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals, Bloomberg reports [read more]
- Trend Micro (TMICY) is exploring a sale after attracting buyout interest, Reuters reports [read more]
4. MOVERS:
5. EARNINGS/GUIDANCE:
- Yeti (YETI) reported Q2 results and raised its guidance for FY24 [read more]
- Penn Entertainment (PENN) reported Q2 results, with EPS and revenue beating consensus [read more]
- Bumble (BMBL) reported Q2 results and provided guidance for Q3 [read more]
- Fastly (FSLY) reported Q2 results with CEO Todd Nightingale commenting, "We continued to drive customer acquisition" [read more]
- Monster Beverage (MNST) reported Q2 results, with EPS and revenue missing consensus [read more]
INDEXES:
The Dow rose 683.04, or 1.76%, to 39,446.49, the Nasdaq gained 464.22, or 2.87%, to 16,660.02, and the S&P 500 advanced 119.81, or 2.30%, to 5,319.31.
