After Hours Report

Equity futures were little changed following a sizable batch of earnings reports before the open, and while the major averages faced early losses from the mega-cap stocks and underperforming technology sector (-1.1%), a strong showing from small-cap and mid-cap stocks reflected an inclination to rotate money within the market versus out of the market.

The pre-open action featured relative strength in the mega-cap stocks and some points of attrition for the broader market, with price setbacks for Coca-Cola (KO 69.62, -0.44, -0.6%), General Motors (GM 48.89, -4.32, -8.1%), Lockheed Martin (LMT 410.69, -49.84, -10.8%), Sherwin-Williams (SHW 340.08, -1.22, -0.4%), and Philip Morris International (PM 165.35, -15.13, -8.4%) following their earnings reports.

Semiconductor stocks also faced pressure out of the gate after NXP Semi (NXPI 228.00, -0.27, -0.1%) beat EPS expectations but failed to deliver upside guidance. The technology sector's position improved modestly throughout the session, but the PHLX Semiconductor Index still closed with a 1.8% loss.

Losses in the technology sector kept the Nasdaq Composite (-0.4%) in negative territory throughout the session, while the S&P 500 (+0.1%) captured a modest gain and logged a new closing record high. The DJIA (+0.4%) advanced further.

Buying interest broadened as the session progressed. Nine S&P 500 sectors closed with gains.

The top-performing health care sector (+1.9%) benefitted from earnings news. IQVIA (IQV 187.37, +28.41, +17.9%) finished as the largest advancer in the S&P 500 following an EPS beat and positive guidance. Though not an S&P 500 constituent, Medpace (MEDP 477.73, +168.85, +54.7%), another CRO services company, surged following its earnings after the close yesterday.

The next best-performing sectors were real estate (+1.8%), utilities (+1.3%), and materials (+1.3%).

Smaller-cap stocks and mid-cap stocks led the rally from early lows. Their outperformance persisted into the close. The Russell 2000 advanced 1.0%, and the S&P Mid Cap 400 finished with a gain of 1.4%.

Meanwhile, woes in the technology sector saw the Vanguard Megacap Growth ETF close with a loss of 0.6%. This stifled further gains across the major averages. The market-weighted S&P 500 advanced just 0.1%, while the equal-weighted S&P 500 finished up 1.3%.

Though there was a coalition of blue-chip stocks that retreated following their earnings reports, there were some winners in the category.

Better-than-expected earnings results from homebuilders D.R. Horton (DHI 153.17, +21.95, +16.7%) and PulteGroup (PHM 121.15, +12.50, +11.5%), which were achieved with mortgage rates at elevated levels, contributed to the outperformance of value stocks. The added boost in the homebuilding stocks had a lot to do with the thought of how much better the results can be if and when mortgage rates come down.

The iShares U.S. Home Construction ETF finished with a 7.9% gain today.

Lower Treasury yields also helped support the rotation within the stock market that featured the outperformance of value stocks over growth stocks.

U.S. Treasuries recorded their third consecutive day of gains after overcoming some early softness. The market did not receive any economic data to influence today's trade and things will remain subdued on that front tomorrow. However, the U.S. Treasury will hold a $13 billion 20-year bond reopening in the early afternoon. The 2-yr note yield dipped two basis points to 3.83%, and the 10-yr note yield dropped four basis points to 4.34%.

• Nasdaq Composite: +8.2% YTD
• S&P 500: +7.3% YTD
• DJIA: +4.6% YTD
• S&P 400: +2.3% YTD
• Russell 2000: +0.8% YTD

Overseas:

• Europe: DAX -1.2%, FTSE +0.1%, CAC -0.7%
• Asia: Nikkei +0.1%, Hang Seng +0.4%, Shanghai +0.5%

Commodities:

• Crude Oil -0.60 @ 65.37
• Nat Gas -0.08 @ 3.28
• Gold +36.70 @ 3443.10
• Silver +0.22 @ 39.56
• Copper +0.08 @ 5.72

After-Hours Spotlight:

• Baker Hughes (BKR) beats by $0.08, beats on revs; guides Q3 and FY25 revs in-line... BKR +0.7%
• Cal-Maine Foods (CALM) beats by $0.77, beats on revs... CALM +5.4%
• Canadian Nat'l Rail (CNI) reports EPS in-line, misses on revs... CNI -2.4%
• Capital One (COF) reports Q2 results... COF +2.6%
• Chubb (CB) beats by $0.16, reports revs in-line... CB -0.5%
• CoStar Group (CSGP) beats by $0.03, beats on revs; guides Q3 EPS below consensus, revs in-line; guides FY25 EPS below consensus, revs above consensus... CSGP unchanged
• Enphase Energy (ENPH) beats by $0.06, reports revs in-line; guides Q3 revs below consensus... ENPH -6.4%
• Manhattan Assoc (MANH) beats by $0.18, beats on revs; guides FY25 EPS above consensus, revs above consensus; replenishes buyback authorization... MANH +10.5%
• Pegasystems (PEGA) beats by $0.04, beats on revs... PEGA -6.3%
• PennyMac (PFSI) misses by $0.21, misses on revs... PFSI -1.7%
• SAP SE (SAP) misses by EUR 0.16, misses on revs; reaffirms FY25 guidance... SAP -1.1%
• Texas Instruments (TXN) beats by $0.05, beats on revs; guides Q3 EPS in-line, revs in-line... TXN -11.0%

Fair Value for Wednesday, July 23:

• S&P 500: 6,346
• Nasdaq 100: 23,219
• DJIA: 44,705

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

• Earnings/Guidance (Full Earnings Calendar):
  • Agilysys (AGYS) misses by $0.03, beats on revs; reaffirms FY26 revs guidance
  • Alexandria RE (ARE) beats by $0.04, beats on revs
  • Avery Dennison (AVY) beats by $0.03, reports revs in-line; guides Q3 EPS below consensus
  • Avino Silver & Gold (ASM) reported continued strong production momentum in the second quarter with 645,602 silver equivalent ounces
  • Badger Meter (BMI) misses by $0.08, reports revs in-line
  • BOK Financial (BOKF) beats by $0.20
  • Calix Networks (CALX) beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs above consensus
  • Coca-Cola (KO) beats by $0.04, reports revs in-line; lowers FY25 EPS below consensus
  • Community Financial System (CBU) beats by $0.03, misses on revs
  • Crown (CCK) beats by $0.27, beats on revs; guides Q3 EPS in-line; guides FY25 EPS in-line
  • Danaher (DHR) beats by $0.16, beats on revs; raises FY25 EPS guidance, reaffirms non-GAAP core revenue growth of approximately 3%
  • D.R. Horton (DHI) beats by $0.47, beats on revs; guides FY25 revs in-line
  • Embraer SA (ERJ) reports Q2 backlog of $29.7 bln
  • Equifax (EFX) beats by $0.08, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY25 EPS in-line, revs in-line
  • Equity Lifestyle Properties (ELS) reports FFO in-line, beats on revs; guides Q3 FFO in-line; guides FY25 FFO in-line
  • First Bancorp (FBP) beats by $0.04
  • Forestar (FOR) misses by $0.06, beats on revs; reaffirms FY25 revs guidance
  • General Motors (GM) beats by $0.19, beats on revs; reaffirms FY25 EPS guidance
  • Genuine Parts (GPC) beats by $0.03, reports revs in-line; lowers FY25 guidance
  • Halliburton (HAL) reports EPS in-line, beats on revs
  • Hope Bancorp (HOPE) misses by $0.08
  • Interpublic (IPG) beats by $0.19, reports revs in-line; combination with Omnicom remains on track to close in 2H25
  • Invesco (IVZ) misses by $0.05, beats on revs
  • Karman Space and Defense (KRMN) issues upside Q2 revenue guidance
  • KeyCorp (KEY) reports EPS in-line, beats on revs
  • Lockheed Martin (LMT) reports Q2 (Jun) results, misses on revs; guides FY25 EPS below consensus, revs in-line
  • Medpace (MEDP) beats by $0.12, beats on revs; guides FY25 EPS above consensus, revs above consensus
  • MSCI (MSCI) beats by $0.02, reports revs in-line
  • Mueller Industries (MLI) beats by $0.31, beats on revs
  • Nokia (NOK) lowers 2025 operating profit guidance due to currency
  • Northrop Grumman (NOC) beats by $1.31, beats on revs; guides FY25 EPS in-line, revs in-line
  • NXP Semi (NXPI) beats by $0.04, reports revs in-line; guides Q3 EPS in-line, revs in-line
  • Old National Bancorp (ONB) beats by $0.01, beats on revs
  • Oscar Health (OSCR) raises FY25 revenue guidance
  • PACCAR (PCAR) beats by $0.08, reports revs in-line
  • Paranaense de Energia (ELP) reports DIS grid market declines 0.7% in 2Q25
  • Pentair (PNR) beats by $0.05, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY25 EPS in-line, revs in-line
  • Philip Morris International (PM) beats by $0.03, misses on revs; guides Q3 EPS below consensus; guides FY25 EPS below consensus
  • PulteGroup (PHM) beats by $0.08, reports revs in-line
  • Quest Diagnostics (DGX) beats by $0.05, beats on revs; raises FY25 guidance
  • RLI Corp (RLI) beats by $0.05
  • RTX (RTX) beats by $0.12, beats on revs; guides FY25 EPS below consensus, revs above consensus
  • Sasol (SSL) reports FY25 sales and production
  • Sherwin-Williams (SHW) misses by $0.42, reports revs in-line; guides FY25 EPS below consensus
  • Steel Dynamics (STLD) misses by $0.23, misses on revs; uncertainty regarding trade policy causing hesitancy in customer order patterns
  • SunPower (SPWR) formerly d/b/a Complete Solaria reports prelim Q2 results; CFO Dan Foley is leaving
  • Synchrony Financial (SYF) beats by $0.69, misses on revs
  • Telix Pharmaceuticals (TLX) sees Q2 revs in line; reaffirms FY25 guidance
  • Tenet Healthcare (THC) beats by $1.13, beats on revs; guides FY25 EPS above consensus, revs above consensus
  • Valmont (VMI) beats by $0.17, beats on revs; guides FY25 EPS in-line
  • Volaris Aviation (VLRS) beats on top and bottom lines
  • Wintrust Fin (WTFC) beats by $0.18, total loans increased by 19%
  • W.R. Berkley (WRB) beats by $0.02, record net premiums written grew to $3.4 bln
  • Zions Bancorp (ZION) beats by $0.32
• General News
  • Global economy remained resilient despite tariffs as businesses and households surprised economists, according to WSJ
  • U.S. & Japan trade representatives meet ahead of the August 1st tariff deadline, according to Bloomberg
  • The likelihood of a trade deal between U.S. and India ahead of the August 1 deadline has declined, according to Reuters
  • Treasury Secretary Scott Bessent says Fed should conduct an exhaustive internal review of its non-monetary policy operations; says Fed’s conduct of monetary policy “is a jewel box” that should be walled off to preserve its independence
  • President Trump considering other options for Golden Dome missile defense shield besides SpaceX, according to Reuters
  • U.S. liquor sales impacted by Canadian boycotts, according to Bloomberg
  • China might close coal mines that are producing above permitted levels, according to Bloomberg
  • President Trump says Philippines will pay a 19% tariff and Philippines will open their markets to U.S
  • Senate Minority Leader Chuck Schumer trying to find strategy to avoid government shutdown on September 30, but no one agrees on the strategy yet, according to Politico
  • President Trump announces trade agreement with Indonesia; Indonesia will be an open market to American industrial and tech products; Indonesia will pay 19% on all of their products coming into the U.S.
  • Adtalem Global Education (ATGE) CEO entered into a written trading plan to sell up to 108,000 shares of the Company’s common stock
  • Align Technology (ALGN) Announces Invisalign System With Mandibular Advancement Featuring Occlusal Blocks for Class II Skeletal and Dental Correction
  • Alphabet (GOOG): Google removes thousands of YouTube channels related to propaganda campaigns from China, Russia and others, according to CNBC
  • Amazon (AMZN) acquiring wearable AI assistant company Bee
  • Amplify Energy (AMPY) announcs an update on strategic initiatives and changes to the executive leadership team
  • Apple's (AAPL) EU App Store changes likely to win approval, averting daily fines, according to Reuters
  • Ares Management (ARES) expands global footprint with strategic reinsurance transaction in Japan
  • Ashland (ASH) William Whitaker, senior vice president and CFO, Ashland, effective July 18; he has been serving as the company’s interim CFO
  • AstraZeneca (AZN) to invest $50 bln in US for medicines manufacturing and R&D
  • Ballard Power (BLDP) receives order for 6.4 MW to eCap Marine for Samskip vessels
  • Baxter (BAX): FDA publishes early alert on infusion pump issue from Baxter
  • Bitfarms (BITF) announces that the Board of Directors has approved effective immediately the commencement of a corporate share buyback program
  • Blackrock (BLK) restricting use of company devices during travel to China, according to Bloomberg
  • Blackstone (BX) announces that Blackstone Growth and affiliated funds have entered into a definitive agreement to make a majority growth investment in NetBrain Technologies, a market-leading Network Automation and AI platform
  • Bridge Investment Group (BRDG) acquires a recently constructed, three-building, 332,793-square-foot Class A industrial portfolio in Fontana, California for $83.5 million
  • Caris Life Sciences (CAI) validates and extends findings on tumor-infiltrating clonal hematopoiesis
  • CME Group (CME) and Nasdaq (NDAQ) announce a ten-year extension of CME Group's exclusive license to offer futures and options on futures based on the Nasdaq-100 and other Nasdaq indexes, through 2039
  • Cognizant Tech (CTSH): Clorox (CLX) planning to launch suit over cybersecurity incident, according to Reuters
  • Cullinan Therapeutics (CGEM) and Taiho Oncology announce acceptance of abstracts for Zipalertinib at the IASLC 2025 World Conference on Lung Cancer
  • Danaher (DHR) announces that Matthew Gugino, currently Group Chief Financial Officer of company's Life Sciences Innovations Group and Vice President of Financial Planning & Analysis, will succeed Matthew McGrew as CFO effective February 28th, 2026
  • ECARX Holdings (ECX) and Monolithic Power Systems (MPWR) form strategic partnership to accelerate deployment of global automotive intelligence and robotics solutions
  • eHealth (EHTH) achieves HITRUST i1 certification for its carrier integration platform hosted through Amazon Web Services for the second year in a row
  • Emerson (EMR) expands AI capabilities into test and measurement software portfolio
  • Enbridge (ENB) announces 600-megawatt solar project to support Meta Platforms (META) Data Center Operations
  • Exxon Mobil (XOM) eyeing additional deepwater blocks near Stabroek field, according to Reuters
  • Ford Motor (F): ChargeScape announces a partnership with PSEG Long Island to enroll electric vehicles in the utility’s Peak Load Reduction program, a first in the nine-year history of the utility’s peak load reduction programs
  • Freshworks (FRSH) announces a multi-year partnership with McLaren Racing, joining as an Official Partner of the McLaren Formula 1 Team
  • General Dynamics (GD) awarded a $159.7 mln modification to a previously awarded US Navy contract
  • Gilat Satellite (GILT) awarded ~$60 million to provide digital inclusion solutions in Peru
  • HP (HPQ): UK Court says Mike Lynch's estate owes HP $940 mln, according to Reuters
  • Humana (HUM) announces accelerated efforts to approve care requests as quickly as possible and reduce the administrative burden for physicians associated with prior authorization
  • Hut 8 Mining (HUT) announces that its subsidiary, Hut 8 Investment Ltd, has secured a Commercial License in the Dubai International Financial Centre
  • IDEAYA Biosciences (IDYA) and Hengrui Pharmaceuticals announce oral presentation at IASLC 2025 World Conference on Lung Cancer for IDE849 (SHR-4849), a potential first-in-class DLL3-TOP1 ADC
  • Interpublic (IPG) launches agentic systems for commerce to help brands accelerate and sustain profitable sales growth across channels
  • Jacobs Solutions (J) secures multiple contract wins and renewals for operations and maintenance services, reinforcing its roots in the Northwest U.S. and growth in the wider water and wastewater utility O&M industry in the Western U.S.
  • JP Morgan (JPM) mulling making loans against cryptocurrency holdings, according to FT
  • Liminatus Pharma (LIMN) initiates a strategic review to evaluate the potential inclusion of regulated digital asset strategies as part of its broader treasury management framework
  • Lockheed Martin (LMT) awarded a $999 mln US Air Force contract
  • Lucid Group (LCID) announces updates and enhancements to the Lucid Air model lineup to deliver increased convenience and peace-of-mind to owners; All Lucid Airs gain access to 23,500+ Tesla (TSLA) Superchargers
  • Manpower (MAN): ManpowerGroup Talent Solutions has selected Carv, a leader in recruitment AI, as a strategic partner to accelerate the global transformation of its Recruitment Process Outsourcing operations
  • Marten Transport (MRTN) has entered into an agreement to sell assets related to its intermodal business to Hub Group, Inc. (HUBG)
  • Mercurity Fintech Holding (MFH) announces share repurchase program of up to $10 million to strengthen confidence in solana and bitcoin treasury strategy and enhance shareholder value
  • Microsoft (MSFT) server hack impacted 100 organizations, according to Reuters
  • Microsoft (MSFT) recruits ~24 AI experts from Google (GOOGL) DeepMind in recent hiring push, CNBC reports
  • Nano Labs Ltd (NA) has significantly increased its holdings of BNB to 120,000.00, representing a total value of approximately US$90 mln
  • Netflix (NFLX) taps Runway AI's video tools for production, according to Bloomberg
  • O-I Glass (OI) confirms it has achieved two of its most ambitious sustainability goals, six years ahead of schedule
  • Oracle (ORCL) and OpenAI have entered an agreement to develop 4.5 gigawatts of additional Stargate data center capacity in the U.S.
  • Oracle (ORCL) in discussions for $100 mln cloud deal from SkyDance-Paramount (PARA), according to Bloomberg
  • PNC (PNC) announces a strategic partnership with Coinbase (COIN) aimed at expanding access to trusted, secure, and innovative digital asset solutions to PNC's banking clients and institutional investors
  • Pony AI (PONY) announces its Level 4 automotive-grade autonomous driving domain controller—deployed in the company's seventh-generation Robotaxi fleet—has surpassed 2 million kilometers of on-road testing
  • Progress Software (PRGS) has entered into a Fifth Amended and Restated Credit Agreement, which, among other things, increased the company’s revolving credit facility from $900 mln to $1.5 bln and extended the maturity date to July 31, 2030
  • Replimune (REPL) announces that the U.S. FDA has issued a Complete Response Letter regarding the Biologics License Application for RP1 in combination with nivolumab for the treatment of advanced melanoma
  • Rithm Capital (RITM) secures strategic financing partnership to fund acquisition of residential transitional loans
  • Roche Hldg (RHHBY) announces Polivy for the First-Line Treatment of Adults With Large B-Cell Lymphoma is now Publicly Reimbursed in Québec
  • Roche Hldg (RHHBY) Board to propose a modernisation of Roche capital structure for approval at the Annual General Meeting
  • Sallie Mae (SLM): Education Department aiming to pause student loan forgiveness, according to Washington Post
  • Sanofi (SNY): BEYFORTUS reduced hospital and doctor visits for RSV disease in babies by 87%, according to largest US real-world study
  • Sarepta Therapeutics (SRPT) voluntarily pauses ELEVIDYS shipments in the US
  • Sarepta Therapeutics's (SRPT) Elevidys faces a “arduous and treacherous path” back to market, according to Stat News
  • SEALSQ (LAES) commits up to $30 million in cryptocurrency treasury to accelerate post-quantum cryptography initiatives
  • Seres Therapeutics (MCRB) announces the appointment of Thomas DesRosier and Marella Thorell as co-Chief Executive Officers
  • Sinclair Broadcast (SBGI) has acquired the non-licensed assets of WDKA-TV (Paducah, KY) and KBSI-TV (Cape Girardeau, MO), with an option to acquire all the licensed assets of the stations
  • Softbank (SFTBY) and OpenAI's $500 bln effort unveiled at the White House to supercharge AI data centers has scaled back near-term plans, according to WSJ
  • Stoneridge (SRI): Ewing Morris calls for strategic alternatives review to unlock value at Stoneridge
  • Surf Air Mobility (SRFM) announces six new charter broker and operator LOI agreements for the SurfOS software program
  • Tesla (TSLA): CNCDA says Tesla experienced an 18.3% drop in California registrations compared to the first half of 2024
  • TotalEnergies SE (TTE) signed an agreement with NativState, an Arkansas-based forest carbon project developer, to conserve forests from land conversion and heavy timber harvesting
  • Tutor Perini (TPC) announces that its subsidiary, Perini Management Services, is underway with work on two new projects that were awarded earlier this year
  • Veralto (VLTO) announces a €20 million investment commitment in Emerald Technology Ventures' Global Water Fund II, reinforcing the Company's focus on driving the next wave of water innovation and advancing breakthrough technologies that address critical global water challenges
  • Vertex Pharma (VRTX) announces marketing authorization in Canada for ALYFTREK, a once-daily next-generation CFTR modulator for the treatment of cystic fibrosis
  • Weave Communications (WEAV) announces an integration with Ortho2
  • WeRide (WRD) provides investor updates in presentation detailing robotaxi commercialization

• Upgrades:
  • Booz Allen Hamilton (BAH) upgraded to Outperform from Market Perform at William Blair
  • Cleveland-Cliffs (CLF) upgraded to Overweight from Sector Weight at KeyBanc, tgt $14
  • Paymentus (PAY) upgraded to Outperform from Peer Perform at Wolfe Research
  • STMicroelectronics (STM) upgraded to Outperform from Neutral at Robert W. Baird, tgt $50
  • UP Fintech (TIGR) upgraded to Buy from Neutral at Citigroup, tgt $14
  • UBS (UBS) upgraded to Neutral from Underperform at BofA Securities
  • Zions Bancorp (ZION) upgraded to Hold from Underperform at Jefferies, tgt $60
• Downgrades:
  • BlackSky Technology (BKSY) downgraded to Hold from Buy at Clear Street, tgt $24
  • Circle Internet Group (CRCL) downgraded to Sell from Neutral at Compass Point, tgt $130
  • Guild Holdings (GHLD) downgraded to Hold from Buy at Jefferies, tgt $20
  • HF Sinclair (DINO) downgraded to Neutral from Overweight at Piper Sandler, tgt $51
  • Lululemon Athletica (LULU) downgraded to Neutral from Overweight at JPMorgan, tgt $224
  • Masco (MAS) downgraded to Neutral from Outperform at Robert W. Baird, tgt $70
  • MGM Resorts (MGM) downgraded to Neutral from Buy at Seaport Research
  • National Retail Properties (NNN) downgraded to Underweight from Overweight at Barclays, tgt $44
  • Sarepta Therapeutics (SRPT) downgraded to Equal Weight from Overweight at Barclays, tgt $18
  • Shopify (SHOP) downgraded to Hold from Buy at Loop Capital, tgt $120
  • Valero Energy (VLO) downgraded to Hold from Buy at TD Cowen, tgt $140
• Others:
  • Alpha Teknova (TKNO) resumed with an Overweight at Stephens, tgt $8
  • Azenta (AZTA) resumed with an Equal Weight at Stephens, tgt $35
  • BioLife Solutions (BLFS) resumed with an Overweight at Stephens, tgt $30
  • Bio-Techne (TECH) resumed with an Overweight at Stephens, tgt $65
  • Core Scientific (CORZ) initiated with a Buy at Arete, tgt $20
  • Carnival (CCL) initiated with a Buy at TD Cowen, tgt $36
  • CryoPort (CYRX) resumed with an Overweight at Stephens, tgt $13
  • Electromed (ELMD) initiated with a Buy at Roth Capital, tgt $29
  • Ideaya Biosciences (IDYA) initiated with a Buy at TD Cowen
  • Indivior (INDV) assumed with a Buy at Jefferies, tgt $20
  • InfuSystem (INFU) initiated with a Buy at Roth Capital, tgt $12
  • Intel (INTC) initiated with a Hold at Loop Capital, tgt $25
  • Liberty Formula One (FWONK) reinstated with a Buy at Goldman, tgt $120
  • MaxCyte (MXCT) initiated with an Overweight at Stephens, tgt $6
  • Norwegian Cruise Line Holdings (NCLH) initiated with a Buy at TD Cowen, tgt $31
  • Ralliant Corporation (RAL) initiated with a Hold at Melius; tgt $56
  • Repligen (RGEN) resumed with an Overweight at Stephens, tgt $160
  • Royal Caribbean Cruises (RCL) initiated with a Buy at TD Cowen, tgt $405
  • Tiziana Life Sciences (TLSA) initiated with a Buy at Lucid Capital, tgt $8

• Econ Data (Wednesday):
  • 07:00 ET: MBA Mortgage Applications Index (prior -10.0%)
  • 10:00 ET: Existing Home Sales (Briefing.com consensus: 4.00M; prior 4.03M)
  • 10:30 ET: EIA Crude Oil Inventories (prior -3.86M)

• Earnings:
  • Monday (July 21)
    • Pre-Market: CLF DPZ ROP VZ
    • After-Hours: AGYS ARE BOKF CALX CCK ELS MEDP NXPI RLI STLD WRB WTFC ZION
    Tuesday (July 22)
    • Pre-Market:  VY BMI KO CBU DHI DHR EFX FBP GM GPC HAL HOPE IPG IVZ IQV KEY LMT MSCI NOC ONB PCAR PNR PM PHM DGX RTX SHW SYF THC VMI
    • After-Hours:  BKR CALM COF CATY CB CSGP EWBC ENPH EQT ISRG MANH MTDR NBHC PEGA PFSI RRC RNST SAP TXN TRMK VICR WFRD
      
  • Wednesday (July 23)
    • Pre-Market: APH T BKU BSX CME FI FCX FRME GEV GD HAS HCSG HLT LW LII MHO MCO COOP NEE NTRS NVR OTIS BPOP PTEN PRG PB TMHC TEL TDY TNL UCB
      
    • After-Hours:   ALK GOOG ASGN BANC CADE CCS CMG CHDN CYH CLB CCI CSX EGP EPRT FAF GL GSHD GGG IBM ICLR KALU KNX LVS MAT MXL MTH MOH ORLY OII PKG PLXS QS RJF RS RNR RBBN RHI ROL SEIC SIGI NOW SON SSNC STC TMUS TSLA URI VKTX WEX WH
  • Thursday (July 24)
    • Pre-Market:  AOS ADT ALLE AB AAL AMP AMBP AUB BHLB BX BFH BC CNP CNX CVBF DAR DOV DOW FCFS FLEX FCN THRM GPI HNI HON IMAX ITGR IRDM KDP LHX LH LADR LAZ LECO LKQ LUV MBLY MHK NDAQ NOK NVCR ORI PHIN POOL PFS RES RPM R SAH STM FTI TXT TSCO TRU TPH UNP VLO VLY VC WAB WST WNS
    • After-Hours:   ASB BYD COLB COUR CUBI DECK DLR EW ENVA FFBC GLPI GBCI DOC HXL INTC KNSL KN LBRT MGRC MTX MC NEM PECO SLM SBCF SKYW SSB VRSN WY WSFS
  • Friday (July 25)
    • Pre-Market: AON AN BAH CNC CHTR FHB FLG GNTX HCA LKFN LEA OMF PSX POR SAIA SXT STEL TNET WNC
    • After-Hours: HTH
  General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike