Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Expedia (EXPE) reported upbeat Q2 results and provided guidance for Q3 revenue and gross bookings growth [read more]
- Paramount (PARA) reported mixed Q2 results, adding that it is cutting its U.S. workforce by about 15% [read more]
- Take-Two (TTWO) reported downbeat Q1 net bookings [read more]
- Iteris (ITI) agreed to be acquired by Almaviva in a $335M all-cash transaction [read more]
- U.S. Senator Elizabeth Warren sent a letter to Tesla's (TSLA) board over CEO Elon Musk's "conflicts of interest" [read more]
2. WALL STREET CALLS:
- Daiwa upgraded PayPal (PYPL) with initiatives "quickly generating" results [read more]
- General Dynamics (GD) upgraded at Morgan Stanley in Defense Prime reshuffle [read more]
- Bread Financial (BFH) and Synchrony (SYF) upgraded to Buy at BofA as firm expects credit performance to improve [read more]
- Nerdy (NRDY) was downgraded after earnings by several firms that see "near-term hurdles" [read more]
- Array Technologies (ARRY) downgraded to Neutral at Roth MKM on risk for more pushouts [read more]
3. AROUND THE WEB:
- Researchers say a bug in AMD's (AMD) chips would allow attackers to root into some of the most privileged portions of a computer, Wired reports [read more]
- JetBlue (JBLU) is in talks with banks to sell $1.5B of high-yield bonds that would yield roughly 9.5%-10%, Bloomberg says [read more]
- Citi (C) confirmed to Barron's that the bank is close to a deal to sell its trust business [read more]
- Amazon (AMZN) has struck a deal with TikTok to enable users of the platform to buy items from Amazon ads without leaving the social media app, The Information reports [read more]
- Boeing (BA) CEO Kelly Ortberg plans to meet on Thursday with U.S. staff who make the company's 737 MAX aircraft and promised to be closer to production lines, Reuters reports [read more]
4. MOVERS:
- Doximity (DOCS) increases after reporting Q1 results and providing guidance for Q2 and FY25 [read more]
- Blend Labs (BLND) gains after William Blair upgraded the stock to Outperform [read more]
- Evolent Health (EVH) and Sweetgreen (SG) higher after reporting quarterly results [read more]
- Mitek Systems (MITK) and PubMatic (PUBM) fall after reporting quarterly results [read more]
- Five9 (FIVN) lower after reporting quarterly results and announcing it will acquire Acqueon [read more]
5. EARNINGS/GUIDANCE:
- Unity (U) reported Q2 results and provided guidance for Q3 and FY24 [read more]
- Nikola (NKLA) reported Q2 results, with EPS missing consensus [read more]
- Hour Loop (HOUR) reported Q2 results and raised its guidance for FY24 [read more]
- Getty Images (GETY) reported Q2 results and cut its guidance for FY24 [read more]
- EchoStar (SATS) reported Q2 results, with EPS and revenue missing consensus [read more]
INDEXES:
Near midday, the Dow was up 10.95, or 0.03%, to 39,457.44, the Nasdaq was up 12.84, or 0.08%, to 16,672.86, and the S&P 500 was up/down 10.29, or 0.19%, to 5,329.60.
