After Hours Report

Updated: 01-Aug-24 17:29 ET
Apple inches lower following JunQ results; Intel tumbles on weak Q3 guidance

The stock market settled near session lows, leaving the major indices with solid declines. The Dow Jones Industrial Average finished 1.2% lower, the S&P 500 logged a 1.4% loss, the Nasdaq Composite fell 2.3%, and the Russell 2000 sank 3.0%.

The downside bias was driven by growth concerns following some disappointing economic data this morning. 

Weekly initial jobless claims -- a leading economic indicator -- increased to 249,000 (Briefing.com consensus 233,000) from 235,000 last week, reflecting some softening in the labor market that may weaken discretionary spending. The ISM Manufacturing Index showed weakening in the manufacturing sector, dropping further into contraction territory to 46.8% in July (Briefing.com consensus 48.5%) from 48.5% in June. 

This morning's data wasn't all disappointing, though. The lineup also featured a welcome combination of higher-than-expected preliminary Q2 productivity growth (actual 2.3%; Briefing.com consensus 1.7%) and smaller-than-expected unit labor cost growth (actual 0.9%; Briefing.com consensus 1.7%).  

Still, growth concerns steered price action in the bond and equity markets. The 10-yr note yield settled below 4.00%, down 13 basis points to 3.98%. The 2-yr note yield settled 18 basis points lower at 4.16%.

The drop in yields boosted rate sensitive areas of the market like the real estate (+1.6%) and utilities (+1.9%) sectors. The communication services sector also outperformed the index, jumping 0.9% due to gains in shares of Meta Platforms (META 497.74, +22.91, +4.8%). 

The heavily-weighted information technology sector registered the largest decline, dropping 3.4%. Weakness in the semiconductor space weighed on the info tech sector and led the PHLX Semiconductor Index (SOX) to close 7.1% lower.

Market participants will be focused on the July Employment Situation report tomorrow, which is released at 8:30 ET, and implications for Fed policy.

  • Nasdaq Composite:+14.5% YTD
  • S&P 500: +14.2% YTD
  • S&P Midcap 400: +9.0% YTD
  • Russell 2000: +7.9% YTD
  • Dow Jones Industrial Average: +7.1% YTD

Reviewing today's economic data:

  • Weekly Initial Claims 249K (Briefing.com consensus 233K); Prior 235K; Weekly Continuing Claims 1.877 mln; Prior was revised to 1.844 mln from 1.851 mln
    • The key takeaway from the report is the rising level of initial claims -- a leading indicator -- which connotes some softening in the labor market that is expected to curtail discretionary spending activity.
  • Q2 Productivity-Prel 2.3% (Briefing.com consensus 1.6%); Prior was revised to 0.4% from 0.2%; Q2 Unit Labor Costs-Prel 0.9% (Briefing.com consensus 1.7%); Prior was revised to 3.8% from 4.0%
    • The key takeaway from the report was the moderation in unit labor costs, which the Fed is eyeing closely. Unit labor costs increased 0.5% over the last four quarters, which is the lowest rate since the third quarter of 2019.
  • July S&P Global US Manufacturing PMI - Final 49.6; Prior 49.5
  • June Construction Spending -0.3% (Briefing.com consensus 0.1%); Prior was revised to -0.4% from -0.1%
    • The key takeaway from the report was that construction spending was soft across both the private and public sectors, reflecting weaker demand patterns that are part of a softening economy.
  • July ISM Manufacturing Index 46.8% (Briefing.com consensus 48.5%); Prior 48.5%
    • The key takeaway from the report is that it conveys clear weakness in the manufacturing sector that is a byproduct of subdued demand.

Looking ahead to Friday, the July Employment Situation report will be released at 8:30 ET. Other data include June Factory Orders at 10:00 ET.

 

Overseas:

  • Europe: DAX -2.3%, TSE -1.0%, CAC -2.1%
  • Asia: Nikkei -2.6%, Hang Seng -0.2%, Shanghai -0.2%

Commodities:

  • Crude Oil -1.67 @ 76.26
  • Nat Gas -0.07 @ 1.97
  • Gold +7.00 @ 2480.30
  • Silver -0.51 @ 28.40
  • Copper -0.10 @ 4.08

After-Hours Spotlight:

  • Amazon (AMZN) beats by $0.23, reports revs in-line, beats on operating income; guides Q3 revs in-line... AMZN down 5.1%
  • Apple (AAPL) beats by $0.06, beats on revs... AAPL down 1.2%
  • Atlassian (TEAM) beats by $0.08, reports revs in-line; guides Q1 revs below consensus... TEAM down 10.5%
  • Block (SQ) beats by $0.09, misses on revs... SQ up 5.1%
  • Booking Holdings (BKNG) beats by $3.27, beats on revs... BKNG down 4.9%
  • Clorox (CLX) beats by $0.27, misses on revs; guides FY25 EPS above consensus, revs below consensus... CLX up 5.0%
  • Cloudflare (NET) beats by $0.06, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus... NET up 7.9%
  • Coinbase Global (COIN) reports Q2 (Jun) results, beats on revs... COIN up 3.2%
  • DoorDash (DASH) reports Q2 (Jun) results, beats on revs; Q2 adj EBITDA above guidance range; provides Q3 guidance... DASH up 14.2%
  • Intel (INTC) misses by $0.08, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; Suspending dividend starting in 4Q24 and announced cost reduction plan, including headcount reduction greater than 15%... INTC down 18.7%
  • MercadoLibre (MELI) beats by $1.95, beats on revs... MELI up 10.8%
  • Monolithic Power (MPWR) beats by $0.10, beats on revs; guides Q3 revs above consensus... MPWR up 7.3%
  • Roku (ROKU) beats by $0.18, beats on revs; guides Q3 revs in-line... ROKU up 5.1%
  • Snap (SNAP) beats by $0.01, misses on revs; guides Q3 revs in-line... SNAP down 18.0%
  • Tandem Diabetes Care (TNDM) beats by $0.07, beats on revs... TNDM up 24.8%
  • Twilio (TWLO) beats by $0.17, beats on revs; guides Q3 EPS above consensus, revs in-line; raises 2024 non-GAAP income from operations guidance... TWLO up 6.6%
  • Xponential Fitness (XPOF) misses by $0.51, misses on revs; lowers FY24 revenue guidance... XPOF down 14.8%

Fair Value for Friday, August 2:

  • S&P 500: 5,483
  • Nasdaq 100: 19,034
  • DJIA: 40,554
Today's News Summary:

For a full rundown of today's market and after hours developments, see Live In Play

  • Earnings/Guidance (Full Earnings Calendar):
    • AbbVie (ABBV) announced that it has completed its acquisition of Cerevel Therapeutics (CERE); reaffirms Q3 and FY24 EPS guidance
    • Aflac (AFL) beats by $0.23, beats on revs
    • Albemarle (ALB) misses by $0.39, beats on revs
    • Allegiant Travel (ALGT) misses by $0.01, beats on revs
    • Alnylam Pharma (ALNY) reports Q2 results
    • Anheuser-Busch InBev (BUD) beats by $0.05; misses on revs
    • ANSYS (ANSS) beats by $0.58, beats on revs
    • Anywhere Real Estate (HOUS) misses by $0.09, misses on revs
    • APi Group (APG) beats by $0.02, misses on revs; guides Q3 revs below consensus; guides FY24 revs in-line
    • Arm Holdings plc (ARM) beats by $0.06, beats on revs; guides Q2 EPS, revs in-line; reaffirms FY25 EPS, revs guidance
    • Arrow Electronics (ARW) beats by $0.62, beats on revs; guides Q3 EPS below consensus, revs in-line
    • Atlantica Sustainable Infrastructure plc (AY) reports Q2 (Jun) results, beats on revs
    • AvalonBay (AVB) beats by $0.06; guides Q3 FFO in-line; guides FY24 FFO in-line
    • Barclays (BCS) beats on top and bottom lines
    • Bausch Health (BHC) reports Q2 results beats on revs; guides FY24 revs above consensus
    • Belden (BDC) beats by $0.14, beats on revs; guides Q3 EPS in-line, revs above consensus
    • Biogen (BIIB) beats by $1.26, beats on revs; raises FY24 EPS above consensus
    • Blue Owl Capital (OWL) reports EPS in-line, beats on revs
    • BridgeBio Pharma (BBIO) beats by $0.61, misses on revs
    • California Water (CWT) beats by $0.28, beats on revs
    • Camping World (CWH) misses by $0.17, misses on revs, same store new vehicle unit sales increased 9.7%
    • CareDx (CDNA) beats by $0.65, beats on revs; significantly raises FY24 revenue guidance
    • Cheesecake Factory (CAKE) beats by $0.09, reports revs in-line
    • Cognizant Tech (CTSH) beats by $0.05, reports revs in-line; guides Q3 revs in-line; guides FY24 EPS above consensus, revs in-line
    • ConocoPhillips (COP) beats by $0.02, misses on revs
    • Crocs (CROX) beats by $0.46, reports revs in-line; guides FY24 EPS in-line, reaffirms FY24 revs guidance
    • Cummins (CMI) reports Q2 (Jun) results, beats on revs; guides FY24 revs above consensus
    • Dominion Energy (D) beats by $0.08, misses on revs; guides FY24 EPS in-line; guides FY25 EPS in-line
    • Driven Brands (DRVN) beats by $0.07, misses on revs; guides FY24 EPS in-line, revs in-line; names new CFO
    • Dun & Bradstreet (DNB) reports EPS in-line, revs in-line; reaffirms FY24 EPS in-line
    • Eaton (ETN) beats by $0.12, reports revs in-line; guides Q3 EPS in-line; guides FY24 EPS above consensus
    • eBay (EBAY) beats by $0.05, beats on revs; guides Q3 EPS above consensus, revs in-line
    • Endeavour Silver (EXK) misses by $0.02, misses on revs
    • Etsy (ETSY) misses by $0.04, beats on revs
    • EVgo Inc. (EVGO) reports EPS in-line, beats on revs; guides FY24 revs in-line
    • Ferrari (RACE) beats by EUR0.28, beats on revs; guides FY24 EPS above consensus, revs above consensus
    • First Majestic Silver (AG) misses by $0.05, beats on revs
    • FMC Corp (FMC) beats by $0.08, reports revs in-line; guides Q3 EPS below consensus, revs below consensus; guides Q4 (Dec) EPS above consensus, revs in-line; guides FY24 EPS in-line, revs in-line
    • FormFactor (FORM) beats by $0.04, beats on revs; guides Q3 EPS in-line, revs above consensus
    • Frontdoor (FTDR) beats by $0.28, reports revs in-line; guides Q3 revs in-line; guides FY24 revs in-line
    • Gildan Activewear (GIL) beats by $0.03, beats on revs; reaffirms FY24 EPS and revenue guidance; provides three-year outlook; authorizes repurchase plan
    • Goodyear Tire (GT) beats by $0.05, misses on revs
    • Grainger (GWW) beats by $0.17, reports revs in-line; guides FY24 revs below consensus
    • Granite Constr (GVA) beats by $0.40, beats on revs; raises bottom end of FY24 revenue guidance
    • Hershey Foods (HSY) misses by $0.17, misses on revs; guides FY24 EPS in-line, revs below consensus
    • Hertz Global (HTZ) misses by $0.19, misses on revs
    • Honda Motor (HMC) reports reports July US sales +9.1% yr/yr to 811,018 units
    • Huntington Ingalls (HII) beats by $0.77, beats on revs; reiterates FY24 outlook
    • Ingersoll-Rand (IR) beats by $0.05, reports revs in-line; raises FY24 guidance
    • Insight Enterprises (NSIT) misses by $0.36, misses on revs; reaffirms FY24 EPS guidance
    • Insperity (NSP) beats by $0.14, reports revs in-line; guides Q3 EPS below consensus; guides FY24 EPS in-line
    • Installed Building Products (IBP) misses by $0.05, reports revs in-line
    • Intercontinental Exchange (ICE) beats by $0.03, reports revs in-line
    • InterDigital (IDCC) reports Q2 (Jun) results, beats on revs; guides Q3 EPS in-line, revs below consensus; raises FY24 EPS and revenue guidance
    • Itron (ITRI) beats by $0.27, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs above consensus
    • Janus Henderson Group (JHG) beats by $0.13, beats on revs
    • Jazz Pharma (JAZZ) beats by $0.53, beats on revs; guides FY24 EPS above consensus, revs in-line
    • Kellanova (K) beats by $0.11, beats on revs; guides FY24 EPS above consensus; raises its organic-basis net sales growth guidance
    • Kyndryl (KD) misses by $0.04, misses on revs
    • Labcorp Holdings Inc. (LH) beats by $0.16, beats on revs; lowers FY24 EPS guidance; increases share repurchase authorization by $1 bln
    • Lam Research (LRCX) beats by $0.59, beats on revs; guides Q1 EPS in-line, revs in-line
    • Li Auto (LI) reports July deliveries increased 49% yr/yr
    • Lithia Motors (LAD) beats by $0.87, reports revs in-line; Elevates Adam Chamberlain to Chief Operating Officer
    • MACOM Tech (MTSI) reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs in-line
    • Marriott Vacations (VAC) misses on EPS and revs; guides FY24 EPS below consensus
    • Meta Platforms (META) beats by $0.44, beats on revs; guides Q3 revs in-line, reaffirms FY24 total expense guidance, raises low end of capex guidance
    • MGM Resorts (MGM) beats by $0.26, beats on revs
    • MGP Ingredients (MGPI) beats by $0.17, reports revs in-line; guides FY24 EPS in-line, revs in-line
    • Mobileye Global (MBLY) beats by $0.01, beats on revs; lowers FY24 revs below consensus
    • Moderna (MRNA) beats by $0.02, beats on revs; revises 2024 net product sales for respiratory franchise
    • Murphy USA (MUSA) beats by $0.04, misses on revs
    • NIO (NIO) reports July deliveries increased 43.9% yr/yr
    • NNN REIT (NNN) beats by $0.02, beats on revs; guides FY24 FFO in-line
    • Patrick Industries (PATK) beats by $0.11, beats on revs
    • Paycom Software (PAYC) beats by $0.01, reports revs in-line; guides Q3 revs in-line; guides FY24 revs in-line
    • Peabody Energy (BTU) beats by $0.82, beats on revs; authorizes $100 mln for repurchases
    • Pinnacle West (PNW) beats by $0.48, beats on revs; reaffirms FY24 EPS guidance
    • Radian Group (RDN) beats by $0.10, reports revs in-line
    • Ranpak (PACK) reports Q2 (Jun) results, misses on revs
    • Roblox (RBLX) beats by $0.07, reports revs in-line; guides Q3 revs below consensus; guides FY24 revs below consensus
    • Rush Enterprises (RUSHA) beats by $0.20, beats on revs
    • Sabre (SABR) beats by $0.05, beats on revs; guides Q3 revs above consensus; guides Q4 (Dec) revs above consensus; raises FY24 revs above consensus
    • Sapiens Int'l (SPNS) beats by $0.01, reports revs in-line; guides FY24 revs in-line
    • Schneider National (SNDR) beats by $0.03, misses on revs; guides FY24 EPS in-line
    • Schrodinger (SDGR) beats by $0.17, beats on revs
    • Service Corp (SCI) misses by $0.08, reports revs in-line; guides FY24 EPS in-line
    • Shake Shack (SHAK) reports EPS in-line, revs in-line; guides Q3 revs in-line; guides FY24 revs in-line
    • Shell plc (SHEL) beats by $0.05; misses on revs; provides outlook
    • SolarWinds (SWI) beats by $0.03, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY24 EPS above consensus, revs in-line
    • Sonoco Products (SON) beats by $0.04, misses on revs; guides Q3 EPS in-line; reaffirms FY24 EPS guidance
    • Southern (SO) beats by $0.17, beats on revs
    • Southern (SO) provides guidance in earnings presentation
    • Spirit Airlines (SAVE) misses by $0.10, misses on revs
    • Standard Motor (SMP) beats by $0.20, beats on revs; guides FY24 revs in-line
    • Teekay Corporation (TK) reports Q2 results
    • Teleflex (TFX) beats by $0.09, misses on revs; guides FY24 EPS above consensus; announces buyback
    • Tetra Tech (TTEK) beats by $0.04, beats on revs; guides Q4 EPS in-line, revs in-line
    • The Cigna Group (CI) beats by $0.29, beats on revs; guides FY24 EPS in-line
    • Thryv (THRY) misses by $0.30, beats on revs
    • Toyota Motor (TM) reports Q1 results; sees FY25 revs above expectations
    • Turning Point Brands (TPB) beats by $0.04, beats on revs; increases FY24 adjusted EBITDA guidance
    • Uniti Group (UNIT) misses by $0.01, beats on revs; guides FY24 revs in-line
    • Vericel (VCEL) misses by $0.01, reports revs in-line; reaffirms FY24 revs guidance
    • Volkswagen (VWAGY) reports H1 results; confirms outlook
    • Vontier (VNT) misses by $0.07, misses on revs; guides Q3 EPS below consensus, revs below consensus; guides FY24 EPS below consensus, revs below consensus
    • Wayfair (W) misses by $0.01, reports revs in-line
    • Wendy's (WEN) misses by $0.01, misses on revs, global comps +0.8%; reaffirms FY24 EPS guidance, but lowers FY24 guidance for global systemwide sales
    • Wesco (WCC) releases earnings presentation with guidance; Reducing full-year outlook to account for utility market slowdown and year-to-date performance
    • Western Digital (WDC) beats by $0.26, reports revs in-line; guides SepQ EPS in-line, revs below consensus
    • Xcel Energy (XEL) misses by $0.03, misses on revs; guides FY24 EPS in-line
    • XPeng (XPEV) reports July deliveries increased 20% yr/yr
    • ZEEKR Intelligent Technology (ZK) reports July deliveries
  • General News
    • Israel acknowledged it killed Hamas's armed wing leader Mohammad Deif who was planner for October 7 attacks, according to the New York Times
    • Vice President Kamala Harris ' representatives met with Pennsylvania Governor Josh Shapiro as VP decision nears, according to Bloomberg
    • Bank of England reduces rates by 25 basis points to 5%
    • The Biden administration believes Iran is going to attack Israel and is preparing to counter it, according to Axios
    • White House issues statement by President Joe Biden on securing the release of Americans detained in Russia
    • Russia and US will undergo prisoner swap that includes Evan Gershkovich & Paul Whelan, according to CNN
    • 3M (MMM) announces that Anurag Maheshwari is appointed Executive Vice President and Chief Financial Officer, effective September 1, 2024
    • Albemarle (ALB) announces asset and cost actions to?enhance competitiveness and proactively respond to dynamic market conditions
    • ALX Oncology (ALXO) reports topline data from ASPEN-06 Phase 2 Trial demonstrating evorpacept improves tumor response in patients With HER2-Positive Gastric Cancer
    • Applied Materials (AMAT) will not receive grant for $4 bln chip project, according to Bloomberg
    • Apple (AAPL) requests that Judge dismiss US antitrust lawsuit, according to Reuters
    • Assured Guaranty (AGO) completes merger of Assured Guaranty Municipal Corp. into Assured Guaranty Inc; merger enhances capital structure and creates operational efficiency
    • Avita Medical (RCEL) has entered into an exclusive multi-year development and distribution agreement with Regenity Biosciences
    • Bayer (BAYRY) submits NDA to FDA for elinzanetant for the treatment of moderate to severe vasomotor symptoms associated with menopause
    • Becton Dickinson (BDX) beats by $0.19, misses on revs; raises FY24 EPS guidance above consensus, revs below consensus
    • BYD Company (BYDDY): BYD reported +30.6% yr/yr increase in NEV sales in July to 342,383, according to CnEVPost
    • CACI Intl (CACI) has been awarded a five-year task order valued at up to $319 mln to provide intelligence systems expertise to the U.S. Army, Communications-Electronics Command, Software Engineering Center, Electronic Warfare and Sensors Directorate, Army Reprogramming Analysis Team-Program Office
    • Charter Comm's (CHTR) Spectrum and EverPass Media confirm agreement offering Spectrum Business customers the ability to get NFL Sunday Ticket and Peacock Sports Pass via EverPass Media
    • Contineum Therapeutics (CTNM) announces encouraging preclinical data on PIPE-307, a potentially first-in-class M1 receptor antagonist in development for patients with relapse-remitting multiple sclerosis, were published online in the peer-reviewed journal, Proceedings of the National Academy of Science
    • Corteva (CTVA) announces CFO Dave Anderson retirement, appoints David Johnson as EVP, CFO
    • CrowdStrike (CRWD) claimed Delta (DAL) rejected offer for assistance following outages, according to Bloomberg
    • Deutsche Bank (DB) trying to sell $1 bln in US commercial property loans, according to Bloomberg
    • Disney (DIS) planning to eliminate more jobs in TV unit, according to Bloomberg
    • Eli Lilly (LLY) announces "positive" topline results from the SUMMIT phase 3 clinical trial evaluating the safety and efficacy of tirzepatide injection in adults with heart failure with preserved ejection fraction and obesity
    • Eli Lilly (LLY) CEO David Ricks says weight loss drugs will be out of shortage "real soon", according to Bloomberg
    • Energy Recovery (ERII) announces the appointment of Michael Mancini as Chief Financial Officer
    • Enovix (ENVX) has signed a non-binding Memorandum of Understanding with a high-performance, global automotive OEM aimed at scaling the Enovix cell architecture for the EV market
    • Etsy (ETSY) announces retirement of Rachel Glaser, she is expected to remain in her current role until a successor is appointed, and to remain with Etsy in an advisory capacity through June 30, 2025 to support continuity and a smooth transition
    • Exact Sciences (EXAS) and TwinStrand Biosciences announce exclusive license agreement for duplex sequencing technology
    • Fox News (FOXA) had its highest ever July ratings, according to the New York Post
    • GlaxoSmithKline (GSK): FDA expands endometrial cancer indication for dostarlimab-gxly with chemotherapy
    • GlaxoSmithKline (GSK) mencement of on-market share buyback program
    • Hackett Group (HCKT) is collaborating with Oracle (ORCL) to offer a new Hackett Pay managed services solution for Oracle Payroll
    • HNI (HNI) announces the installation of solar energy systems at two strategic manufacturing locations
    • Ingevity (NGVT) announces additional steps to advance strategic repositioning and improve profitability of its Performance Chemicals segment
    • Interactive Brokers (IBKR) announces that its wholly-owned subsidiary, the CFTC-regulated ForecastEx LLC, started operations on August 1, 2024
    • Interactive Brokers (IBKR) reports its Electronic Brokerage monthly performance metrics for July; DARTs +38% yr/yr to 2.756 mln
    • ITT (ITT): Behrman Capital to sell portfolio company kSARIA to ITT for $475 million, expected to close before the end of the third quarter
    • Johnson Controls (JCI): Truelink Capital has closed the transaction to acquire Air Distribution Technologies from Johnson Controls
    • Leonardo DRS (DRS) was awarded a contract by the U.S. Navy to provide critical electronic combat control and sonar systems equipment for installation across the service’s fleet of submarines and allied fleets
    • Lumen Technologies (LUMN) announces an agreement with Corning Incorporated (GLW) for a substantial supply of next-generation optical cable
    • Microsoft (MSFT) scaled back artificial intelligence partnership with G42, according to Politico
    • NCR Voyix Corporation (VYX): Stinker Stores has chosen NCR Voyix to deploy the NCR Voyix Commerce Platform via Edge infrastructure to modernize its store IT
    • Nissan Motor (NSANY), Honda (HMC) and Mitsubishi Motors (MMTOF) sign MOU on strategic partnership
    • Norfolk Southern (NSC) to make investments in Alabama; The more-than $200 million investment positions the line to accommodate expected growth in several sectors as the Southeast progresses as an economic powerhouse for the US economy
    • Novonix Limited (NVX) names Robert Long as CFO
    • Paycom Software (PAYC) has increased and extended its ongoing stock repurchase plan, such that $1.5 bln is available for repurchases through Aug. 15, 2026
    • Papa John's (PZZA) appoints Todd Penegor as President and CEO
    • Remitly Global (RELY) appoints Vikas Mehta as CFO, succeeding Hemanth Munipalli, effective August 19
    • RenaissanceRe (RNR) approves a renewal of RenaissanceRe’s authorized share repurchase program, bringing the total current authorization up to $500.0 million, which includes the remaining amounts under prior authorizations
    • RTX (RTX) awarded $2.09 bln U.S. Army contract
    • Sallie Mae (SLM) files mixed securities shelf offering for an undisclosed amount
    • Semler Scientific (SMLR) amended Bitcoin strategy related supplemental disclosures
    • Simpson Manufacturing (SSD) announces retirement of CFO Brian Magstadt, effective Dec 31; co has initiated a comprehensive search for a new CFO consisting of both internal and external candidates
    • Southern (SO) provides guidance in earnings presentation
    • Stellantis (STLA) launches third tranche of its 2024 share buyback program
    • Syndax Pharmaceuticals (SNDX): FDA grants Orphan Drug status to SNDX's revumenib, a treatment for acute leukemias of ambiguous lineage
    • TKO Group Holdings' (TKO) WWE and Aires Tech unveil a momentous new partnership aimed at bolstering the personal performance regimens of WWE Superstars
    • Valneva SE (VALN) and LimmaTech enter into a strategic partnership to accelerate the development of the world’s most clinically advanced tetravalent shigella vaccine candidate
    • VEON (VEON) announces intention to delist from Euronext Amsterdam and to initiate a share buyback program for up to $100 million
    • Village Farms (VFF): ROSE LifeScience receives a Cannabis Research Licence from Health Canada under the Cannabis Act; This authorization enables ROSE to focus on cannabis product innovations and developments
    • ZEEKR Intelligent Technology Holding Limited (ZK) and Mobileye (MBLY) to accelerate technology collaboration in China

Ratings Changes (see Upgrades/Downgrades calendar for full list):

  • Upgrades:
    • Carvana (CVNA) upgraded/resumed at Overweight from Equal Weight at Wells Fargo; tgt $175
    • C.H. Robinson (CHRW) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $110
    • Datadog (DDOG) upgraded to Buy from Neutral at BTIG Research; tgt $143
    • Day One Biopharmaceuticals (DAWN) upgraded to Buy from Underperform at BofA Securities; tgt raised to $24
    • Entegris (ENTG) upgraded to Outperform from Neutral at Mizuho; tgt $143
    • Entegris (ENTG) upgraded to Buy from Neutral at Seaport Research Partners; tgt $150
    • First Solar (FSLR) upgraded to Buy from Hold at DZ Bank; tgt $280
    • GE Vernova (GEV) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $220
    • Pegasystems (PEGA) upgraded to Buy from Hold at Loop Capital; tgt raised to $84
    • Reddit (RDDT) upgraded to Buy from Hold at Loop Capital; tgt $75
    • Silgan Holdings (SLGN) upgraded to Neutral from Underweight at JP Morgan; tgt raised to $53
    • Waters (WAT) upgraded to Outperform from Market Perform at Leerink Partners; tgt raised to $375
    • Wingstop (WING) upgraded to Outperform from Mkt Perform at Raymond James; tgt $42
  • Downgrades:
    • AvidXchange (AVDX) downgraded to Neutral from Buy at UBS; tgt lowered to $10
    • Bill.com (BILL) downgraded to Peer Perform from Outperform at Wolfe Research
    • Bunge (BG) downgraded to Neutral from Buy at Citigroup; tgt lowered to $114
    • Etsy (ETSY) downgraded to Perform from Outperform at Oppenheimer
    • Host Hotels (HST) downgraded to Neutral from Buy at Compass Point; tgt lowered to $18
    • IPG Photonics (IPGP) downgraded to Neutral from Buy at Seaport Research Partners
    • MacroGenics (MGNX) downgraded to Neutral from Buy at BTIG Research
    • Public Storage (PSA) downgraded to Hold from Buy at Truist; tgt $306
    • SiteOne Landscape Supply (SITE) downgraded to Hold from Buy at Stifel; tgt $150
    • Tenable (TENB) downgraded to Neutral from Buy at DA Davidson; tgt lowered to $40
    • Voya Financial (VOYA) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $76
    • Western Digital (WDC) downgraded to Hold from Buy at Summit Insights
    • Zeta Global (ZETA) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt raised to $30
  • Others:
    • Carvana (CVNA) resumed with a Neutral at Robert W. Baird; tgt $160
    • Greystone Housing Impact Investors LP (GHI) initiated with a Buy at Janney; tgt $17
    • Medpace (MEDP) initiated with a Hold at Truist; tgt $415
    • OneStream (OS) initiated with an Outperform at Robert W. Baird; tgt $32
  • Econ Data (Friday):
    • 8:30 ET: July Nonfarm Payrolls (Briefing.com consensus 170,000; prior 206,000), Nonfarm Private Payrolls (Briefing.com consensus 153,000; prior 136,000), Average Hourly Earnings (Briefing.com consensus 0.3%; prior 0.3%), Unemployment Rate (Briefing.com consensus 4.1%; prior 4.1%), and Average Workweek (Briefing.com consensus 34.3; prior 34.3)
    • 10:00 ET: June Factory Orders (Briefing.com consensus 0.4%; prior -0.5%)
  • Earnings:
    • Monday (July 29)
      • Pre-Market: AMG CTRI CNA HOPE IART MCD OIS ON PHG RVTY
      • After-Hours: AMKR BYON BRX CHK CNO CDP CORT CR CWK CVI PLOW ESI EQR FFIV FLS HLIT HOLX KFRC LSCC LTC NEO PCH RMBS SAFE SANM SBAC ST SFM SYM TLRY TRNS VRNS WELL WWD
    • Tuesday (July 30)
      • Pre-Market: AGCO AEP AMT ADM ARCC AWI BP CECO CNP CVLT GLW CTS DTM EXP ECL EPD IT GPK HEES HAYW HWM HUBB ITW INCY IGT IPGP JBLU LDOS DRS LGIH MRK NEOG PYPL PFE PSX PHIN PJT PG PEG RGEN STNG SITC SPGI SOFI SWK SYY TRS UFPI WSO XYL ZBRA
      • After-Hours: ATEN AKR AEIS AMD ACGL AROC ANET ATRC AXS AX BHE BLKB BXP CZR CCCS CRK DENN DV EA EQH EQC ESS EXR FSLR FE FRSH HA HLI HURN NARI INFA JBT KAI LSTR LMND LC LFUS LYV MTCH MSFT MOD MDLZ NMIH NOG NWE OI OVV PCRX PEN PINS POWL PRO PSA QRVO WTTR SWKS STAG SBUX SYK TEX TX UDR UMBF UNM VOYA WPC WERN WU ZWS
    • Wednesday (July 31)
      • Pre-Market: ATEC ALGT MO ASC ATHM ADP AN AVNS AVDX BLCO BA BWA BG CBZ CDW COR CHEF CLH CNH CMCO DAN DAY XRAY DSX DD DFIN DEA ENTG FVRR GRMN GTES GEHC GNRC THRM ROCK GSK HES HESM HUM JCI KKR KHC LNTH LECO LIVN LXP MA MAC MAR MNRO EDU NCLH OMF OSW OPCH OSK PAG PSN PERI PNM PUMP RDWR SAGE SHOO SMG SLGN SITE SR SCL STRA SXC TMUS TEVA COCO TKR TT TTMI ULS UTHR UMC VRSK WAT WEC WING
      • After-Hours: ACHC AFL ALB ALKT ALL AIG AWK ANSS AM AR APA ARM AVB ACLS BALY BKH BV CHRW WHD CWH CDNA CVNA CAKE CWAN CGNX CTSH COHU CODI CFLT CNMD CRBG CTVA CCRN DLX EBAY EIG ERII ENVX EPR ETD ETSY EG EVTC EOLS EXAS EXPI FICO FMC FORM FCPT GKOS GT GRBK THG HLF HST IEX IR IRT NGVT JAZZ KRC KN KD LRCX MGY VAC MAX META MET MTG MGM MAA MCW MUSA MYRG NFG NRDS NTGR NMFC NE OLO PTVE PGRE PK PAYC PRDO PDM PPC PTC QTWO QGEN QCOM QDEL RDN RRX RELY RIOT RIG RSI RHP SDGR TSLX SNBR SON RGR SUI SCI NOVA TDOC TENB TS TTEK TMDX UDMY VICI WDC ZETA
    • Thursday (Aug 1)
      • Pre-Market: ACIW ADT AER AGIO APD ALGM ALE ALNY ATUS AME BUD HOUS APLS APG APO APPN APTV MT ARW AUPH AXTA BALL BAND BDX BDC BIGC BIIB BIP BPMC CWT CAMT CWEN COP CROX CRTO CMI D LPG DRVN DNB ETN ECVT ETR NVRI ES EVGO EXC EXLS FTDR GWW HSY HTZ DINO HII IDA INMD NSIT NSP IBP ICE IDCC IONS IRM ITRI ITT JHG K KRP KIM KEX KTB LH LAUR LTH LNC LAD MTSI MGPI MIDD MBLY MRNA NBIX OCSL OMCL PATK PBF BTU PNW PWR PACK REGN RBLX RUSHA SABR SNDR SPNS SHAK SIRI SWI SO STGW TNK TFX CI THRY TRN TPB UNIT UPBD UTZ VCEL VNT W WEN WCC XEL XPO
      • After-Hours: AAON ACCO ADPT AL ALHC AEE LNT ALTR ASUR AMZN AMH AAPL ACA ARDX TEAM BECN BZH BBAI BIO SQ BKNG BFAM CABO CPT CWST CE CC CIVI CLFD CLX NET COIN ED CRSR CTRA CUBE CTOS DRH DASH DORM DKNG LOCO ELME EOG FRT FND FOXF FDP GEN GDDY GDYN HTGC HUBG ICFI INST IAS INTC IRTC LEG LMAT MTZ MATX MARA MMSI MTD MCHP MSTR MIR MPWR MSI MP NXT LASR OHI OPEN OEC PCTY POST PRCT PCOR PRU REG RGNX RGA RMD RNG RLJ RKT ROKU RYAN SEM SIMO SNAP SWN SPT SPXC SNDX TNDM SKT TROX TWLO X OLED VREX VTR VRTX VCTR VIR HCC WSC WK XHR XPOF
    • Friday (Aug 2)
      • Pre-Market: ARCB ARES ABG ATMU BERY BTSG CBOE GTLS CVX CHD CNK ESAB ESNT XOM FYBR FLGT HR IMO TILE LIN LYB MOG.A NMRK NWN OMI PRGO PIPR PAA PPL PRLB RBC SNCY TWST
      • After-Hours: AMC AES
    • General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike
Cookies are essential for making our site work. By using our site, you consent to the use of these cookies. Read our cookie policy to learn more.