After Hours Report

After a powerful four-session advance that lifted the S&P 500 nearly 6% while carrying it to fresh record highs, stocks took a breather on Wednesday as investors digested another busy round of earnings reports and corporate headlines. The S&P 500 (-0.2%) finished modestly lower, while the Nasdaq Composite slipped 0.8% and the DJIA gained 0.5%. Despite the mixed finish, the S&P 500, DJIA, Russell 2000 (-0.6%), and S&P Mid Cap 400 (-0.5%) all notched fresh record intraday highs before retreating from their best levels.

The broader tone nevertheless remained constructive, as another encouraging earnings backdrop and continued progress toward easing tensions in the Middle East helped offset some profit-taking after this week's powerful rally.

The communication services sector (-2.4%) finished as the market's weakest performer. Alphabet (GOOG 360.13, -15.22, -4.05%) came under pressure after The Wall Street Journal reported that Google Chief Scientist and AI strategy leader Jeff Dean will leave the company to launch a startup focused on scientific discovery.

The sector also faced pressure from wireless providers after SpaceX (SPCX 108.27, -17.06, -13.61%) said on its earnings call that it plans to enter the wireless market.

Weakness in Amazon (AMZN 272.65, -4.77, -1.72%) and Tesla (TSLA 321.55, -5.80, -1.77%) further highlighted today's pause across several of the market's recent mega-cap leaders, leaving the consumer discretionary sector (-0.3%) modestly lower despite relative strength elsewhere.

The information technology sector spent most of the session with a solid gain but retreated to finish little changed as the PHLX Semiconductor Index slipped 1.4% into the close. Advanced Micro Devices (AMD 482.05, -36.53, -7.04%) was a notable laggard after a strong run into its earnings report. NVIDIA (NVDA 219.22, +7.28, +3.43%) remained a notable source of support after SpaceX said on its earnings call that it plans to build exclusively on NVIDIA's Vera Rubin architecture, helping keep the sector out of negative territory.

Attention now shifts to another important test for the memory trade after the close, with Sandisk (SNDK 1350.50, -77.12, -5.40%) and Western Digital (WDC 519.17, -29.39, -5.36%) set to report earnings. Both stocks also came under pressure into the close ahead of their reports.

Outside of technology, leadership remained familiar. The materials sector (+1.5%) outperformed behind continued strength in precious metals prices, lifting Newmont Corporation (NEM 104.27, +6.54, +6.69%) among the day's best-performing S&P 500 components.

The health care sector (+1.3%) also finished near the top of the leaderboard as Eli Lilly (LLY 1168.77, +53.09, +4.76%) and Amgen (AMGN 407.83, +17.81, +4.57%) built on well-received earnings reports, with the latter helping support the DJIA.

The energy sector (-2.0%) remained under pressure as WTI crude oil futures settled down $0.55 (-0.7%) at $75.18 per barrel. The Wall Street Journal reported that Iran and Oman are finalizing a draft agreement to reopen the Strait of Hormuz that would prohibit Iran from charging tolls or transit fees, reinforcing expectations that disruptions to global oil shipments could continue to ease.

Elsewhere, the utilities sector (-1.0%) remained out of favor as investors continued rotating away from more defensive areas of the market.

Although today's session interrupted the market's recent string of outsized gains, the underlying backdrop changed little. Earnings results have generally continued to exceed expectations, geopolitical risks have eased further, and today's relatively orderly consolidation followed one of the strongest four-session advances of the year. Investors will now look to another round of semiconductor earnings to determine whether technology leadership can reassert itself after today's pause.

U.S. Treasuries inched higher on Wednesday, securing their third consecutive advance that pressured yields on longer tenors to one-week lows. The 2-year note yield settled down two basis points to 4.18%, and the 10-year note yield settled down one basis point to 4.62% . 

• Russell 2000: +21.7% YTD
• S&P Mid Cap 400: +16.4% YTD
• Nasdaq Composite: +13.4% YTD
• DJIA: +13.1% YTD
• S&P 500: +12.8% YTD

Reviewing today's data:

• Weekly MBA Mortgage Applications Index -2.9%; Prior -6.4%
• July ADP Employment Change 44K (Briefing.com consensus 75K); Prior was revised to 95K from 98K
• July S&P Global U.S. Services PMI - Final 54.6; Prior 53.6
• July ISM Non-Manufacturing Index 54.1% (Briefing.com consensus 54.7%); Prior 54.0%
  • The key takeaway from the report is the understanding that services sector activity continues to run at a solid pace despite the persistence of ongoing cost pressures.

 Overseas:

• Europe: DAX -0.2%, FTSE +0.1%, CAC flat
• Asia: Nikkei +3.7%, Hang Seng +0.2%, Shanghai +1.5%

Commodities:

• Crude Oil -0.55 @ 75.18
• Nat Gas +0.01 @ 2.69
• Gold +153.10 @ 4305.00
• Silver +2.05 @ 62.31
• Copper +0.09 @ 6.73

After-Hours Spotlight:

• Albemarle (ALB) beats by $0.55, beats on revs...ALB +1.5%
• AppLovin (APP) reports EPS in line, misses on revs; provides guidance...APP -18.1%
• BillionToOne (BLLN) misses by $0.03, beats on revs; provides FY26 guidance...BLLN -29.4%
• Block (XYZ) beats by $0.15, beats on revs; guides Q3 EPS above consensus; guides FY26 EPS above consensus...XYZ -2.0%
• Cirrus Logic (CRUS) beats by $0.03, reports revs in-line; guides SepQ revs below consensus...CRUS -3.0%
• Dutch Bros (BROS) beats by $0.04, beats on revs; ups FY26 revs outlook...BROS -14.0%
• eBay (EBAY) beats by $0.10, beats on revs; guides Q3 EPS below consensus, revs above consensus...EBAY -0.5%
• Expedia Group (EXPE) beats by $0.54, beats on revs; guides Q3 revs in-line; raises FY26 revs in-line...EXPE -0.7%
• Figma (FIG) beats by $0.04, beats on revs; provides Q3 (Sep) and FY26 guidance...FIG -16.4%
• Honeywell Aerospace (HONA) misses by $0.25, misses on revs; guides FY26 EPS below consensus...HONA -10.7%
• HubSpot (HUBS) beats by $0.24, beats on revs; provides Q3 (Sep) and FY26 guidance; Board authorizes $1.0 bln buyback program...HUBS -20.1%
• IonQ (IONQ) beats by $0.23, beats on revs; provides Q2 (Jun) and FY26 guidance...IONQ +1.2%
• MercadoLibre (MELI) beats by $0.54, beats on revs...MELI -4.6%
• Sandisk (SNDK) beats by $4.29, beats on revs; guides Q1 EPS in-line, revs below consensus...SNDK -6.5%
• Western Digital (WDC) beats by $0.25, beats on revs; guides Q1 EPS above consensus, revs in-line...WDC -11.4%
• Zillow (ZG) beats by $0.07, beats on revs; guides Q3 revs below consensus; guides FY26 revs below consensus...ZG -7.4%

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

• Earnings/Guidance (Full Earnings Calendar):
  • Advanced Micro Devices (AMD) beats by $0.04, beats on revs; guides Q3 revs in-line
  • AGNT, Inc. (AGNT) misses by $0.04, beats on revs; guides Q3 revs in-line; reaffirms FY26 revs guidance
  • Allegiant Travel (ALGT) beats by $1.08, misses on revs; guides Q3 EPS below consensus; guides FY26 EPS below consensus
  • Alphatec (ATEC) reports EPS in line, beats on revs; provides FY26 guidance
  • American Fincl (AFG) beats by $0.50, beats on revs
  • Amgen (AMGN) beats by $0.67, beats on revs; guides FY26 EPS in-line, revs above consensus
  • Archrock (AROC) misses by $0.07, misses on revs
  • Arista Networks (ANET) beats by $0.13, beats on revs; guides Q3 EPS above consensus, revs above consensus
  • Arrowhead (ARWR) misses by $0.08, beats on revs
  • Assurant (AIZ) beats by $1.43, reports revs in-line
  • Astera Labs (ALAB) beats by $0.11, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Bed Bath & Beyond (BBBY) misses by $0.17, reports revs in-line
  • BeOne Medicines (ONC) beats by $2.18, beats on revs; provides FY26 guidance
  • Bio-Rad Labs (BIO) beats by $0.87, beats on revs; provides FY26 guidance
  • BlackLine (BL) beats by $0.04, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Bloomin' Brands (BLMN) beats by $0.10, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Booking Holdings (BKNG) beats by $0.11, beats on revs; guides Q3 revs below consensus; reaffirms FY26 revs and EPS guidance
  • BorgWarner (BWA) beats by $0.14, beats on revs; provides FY26 guidance; Board authorizes $1 bln buyback program
  • BrightView (BV) misses by $0.12, misses on revs; guides FY26 revs in-line
  • Brinks (BCO) beats by $0.09, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Callaway Golf Company (CALY) beats by $0.04, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Capri Holdings (CPRI) beats by $0.27, beats on revs; provides Q2 (Jun) and FY27 guidance
  • CDW (CDW) beats by $0.11, beats on revs
  • Celanese (CE) beats by $0.22, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Charles River (CRL) beats by $0.28, beats on revs; guides FY26 EPS above consensus, revs above consensus
  • Chemours (CC) misses by $0.08, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Choice Hotels (CHH) beats by $0.05, beats on revs; provides FY26 guidance
  • Circle Internet Group (CRCL) beats by $0.02, misses on revs; provides Q2 (Jun) guidance
  • Clear Secure (YOU) beats by $0.09, beats on revs; guides Q3 revs above consensus
  • Corebridge Financial (CRBG) beats by $0.05
  • Coupang (CPNG) beats by $0.18, misses on revs
  • CVS Health (CVS) beats by $0.73, beats on revs; raises FY26 EPS and cash flow guidance
  • Delek US Holdings (DK) beats by $0.97, beats on revs
  • Devon Energy (DVN) beats by $0.17, beats on revs
  • Dine Brands (DIN) misses by $0.04, beats on revs
  • Dorian LPG (LPG) beats by $0.27, beats on revs; provides Q3 (Sep) guidance
  • Douglas Emmett (DEI) beats by $0.01, beats on revs; guides FY26 FFO in-line
  • Dynatrace (DT) beats by $0.04, beats on revs; provides Q1 (Mar) and FY27 guidance
  • Edgewell Personal Care (EPC) beats by $0.11, misses on revs; provides FY26 guidance
  • Elanco Animal Health (ELAN) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Eli Lilly (LLY) beats by $2.37, beats on revs, worldwide Mounjaro revenue up 91%; Slightly lowers high end of FY26 EPS guidance range, still above consensus, raises revenue guidane
  • EOG Resources (EOG) beats by $0.10, beats on revs
  • Essential Utilities (WTRG) beats by $0.01, misses on revs; provides FY24 guidance; raises dividend 5.25%
  • Everus (ECG) beats by $0.50, beats on revs; provides FY26 guidance
  • Equitable Holdings (EQH) beats by $0.10, misses on revs
  • EVERTEC (EVTC) beats by $0.10, beats on revs; provides Q3 (Sep) and FY26 guidance; Board authorizes $150 mln buyback program
  • Extreme Networks (EXTR) beats by $0.03, beats on revs; provides FY26 guidance
  • Flutter Entertainment (FLUT) misses by $0.05, beats on revs; lowers FY26 revs
  • Flywire (FLYW) misses by $0.05, beats on revs; provides FY26 guidance
  • Fortune Brands Innovations (FBIN) beats by $0.55, misses on revs; provides Q2 (Jun) and FY26 guidance
  • Freshpet (FRPT) beats by $0.17, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Freshworks (FRSH) beats by $0.04, beats on revs; guides Q3 EPS, revs in-line; ups FY26 EPS, revs guidance
  • fuboTV (FUBO) beats by $0.04, misses on revs; Raises low end of FY26 adjusted EBITDA guidance range
  • Galaxy Digital (GLXY) beats by $0.37, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Gibraltar Industries (ROCK) misses by $1.02, misses on revs; provides quarterly guidance
  • Gilead Sciences (GILD) beats by $0.51, beats on revs; Raises FY26 EPS guidance, but still below consensus, slightly raises low end of product sales guidance range
  • GlobalFoundries (GFS) beats by $0.03, beats on revs
  • Global Payments (GPN) beats by $0.02, beats on revs; lowers FY26 guidance
  • Griffon (GFF) beats by $0.17, beats on revs; provides FY26 guidance
  • GXO Logistics (GXO) beats by $0.01, misses on revs; provides FY26 guidance
  • Healthpeak Properties (DOC) beats by $0.03, beats on revs; guides FY26 FFO in-line; Authorized new $500 mln share repurchase program
  • Hecla Mining (HL) misses by $0.01, misses on revs
  • Hinge Health (HNGE) misses by $0.02, beats on revs; provides Q3 (Sep) and FY26 guidance; Board authorizes $300.0 mln buyback program
  • Honda Motor (HMC) beats on top and bottom lines; raises outlook
  • Hon Hai Precision (HNHPF) reports July sales jump 54% yr/yr
  • Innospec (IOSP) beats by $0.22, beats on revs
  • Insulet (PODD) beats by $0.21, beats on revs; provides FY26 guidance
  • Intapp (INTA) beats by $0.05, beats on revs; provides Q1 (Mar) and FY27 guidance
  • Interparfums (IPAR) misses by $0.02, beats on revs; provides FY26 guidance
  • Intl Flavors (IFF) misses by $0.25, misses on revs; Issues updated FY26 guidance to reflect the separation of the Food Ingredients disposal group and SCL disposal group; Announces enhanced $2.5 bln share repurchase authorization, including $500 mln accelerated share repurchase
  • Iron Mountain (IRM) beats by $0.02, beats on revs; raises FY26 FFO above consensus, revs above consensus
  • J&J Snack Foods (JJSF) beats by $0.26, misses on revs; provides Q4 (Dec) guidance
  • Jacobs Solutions (J) beats by $0.01, reports revs in-line; guides FY26 EPS in-line
  • Janus Living (JAN) beats by $0.02, reports revs in-line; raises FY26 FFO as adjusted guidance
  • Kadant (KAI) beats by $0.48, beats on revs; guides Q3 revs below consensus; guides FY26 EPS above consensus, revs in-line
  • Kennametal (KMT) beats by $0.65, beats on revs; provides Q1 (Mar) and FY27 guidance
  • Kraft Heinz (KHC) beats by $0.03, beats on revs; raises FY26 EPS in-line
  • Kratos Defense and Security (KTOS) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Kymera Therapeutics (KYMR) beats by $0.09, beats on revs
  • Kyndryl (KD) beats by $0.04, misses on revs; provides Q1 (Mar) and FY28 guidance
  • Lattice Semi (LSCC) beats by $0.09, beats on revs; provides Q3 (Sep) and FY26 guidance
  • LCI Industries (LCII) beats by $0.09, misses on revs; provides FY26 guidance
  • Lemaitre Vascular (LMAT) misses by $0.07, misses on revs; provides Q3 (Sep) and FY25 guidance; Board authorizes $100.0 mln buyback program
  • Light & Wonder (LNWO) beats by $0.29, misses on revs
  • Lineage (LINE) beats by $0.07, beats on revs; provides FY26 guidance
  • LivaNova (LIVN) beats by $0.17, beats on revs; guides FY26 EPS above consensus
  • Louisiana-Pacific (LPX) misses by $0.17, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Lucid Group (LCID) misses by $0.48, beats on revs
  • Marqeta (MQ) beats by $0.06, beats on revs; provides Q3 (Sep) and FY26 guidance
  • MasterBrand (MBC) misses by $0.05, beats on revs
  • Match Group (MTCH) beats by $0.05, reports revs in-line; guides Q3 revs in-line
  • Materion (MTRN) beats by $0.38, beats on revs; provides Q3 (Sep) and FY25 guidance
  • Mattel (MAT) misses by $0.03, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Medline (MDLN) beats by $0.18, beats on revs
  • MNTN, Inc. (MNTN) misses by $0.10, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Mosaic (MOS) beats by $0.01, misses on revs
  • Neutron Holdings (LIME) reports Q2 (Jun) results, beats on revs; guides Q3 revs in-line; guides FY26 revs in-line
  • New York Times (NYT) beats by $0.03, beats on revs
  • NICE Ltd. (NICE) beats by $0.06, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Northwest Natural (NWN) beats by $0.09, misses on revs; provides FY26 guidance
  • ONE Gas (OGS) beats by $0.19, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Opendoor Technologies (OPEN) misses by $0.10, misses on revs
  • Owens Corning (OC) beats by $0.84, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Pacira BioSciences (PCRX) beats by $0.08, beats on revs
  • Palomar Holdings (PLMR) beats by $0.17, Gross written premiums increased 27%; Issues FY26 guidance
  • Paramount Skydance (PSKY) reports Q2 (Jun) results, revs in-line; guides Q3 revs in-line; reaffirms FY26 revs guidance
  • Par Pacific (PARR) beats by $1.88, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Paylocity (PCTY) beats by $0.22, beats on revs; guides Q1 revs above consensus; guides FY27 revs in-line
  • Phillips 66 (PSX) beats by $1.91
  • Pinterest (PINS) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Precigen (PGEN) beats by $0.06, beats on revs
  • Primo Brands Corporation (PRMB) beats by $0.05, beats on revs; provides FY26 guidance
  • Primoris Services (PRIM) beats by $0.08, misses on revs; provides Q2 (Jun) and FY26 guidance
  • Prudential (PRU) beats by $0.56
  • Qualys (QLYS) beats by $0.20, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY26 guidance
  • Red Rock Resorts (RRR) beats by $0.16, beats on revs; provides Q3 (Sep) guidance
  • Regal Rexnord (RRX) beats by $0.41, misses on revs; guides FY26 EPS in-line
  • Revolve Group (RVLV) beats by $0.05, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Sandoz (SDZNY) reports H1 results; reaffirms FY26 outlook
  • Select Water Solutions (WTTR) beats by $0.04, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Shake Shack (SHAK) beats by $0.12, reports revs in-line; reaffirms FY26 revs guidance
  • SharkNinja (SN) beats by $0.15, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Shopify (SHOP) beats by $0.02, beats on revs
  • SolarEdge Technologies (SEDG) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • SpaceX (SPCX) beats by $0.14, beats on revs
  • Spire (SR) beats by $0.06, beats on revs; guides FY26 EPS in-line; guides FY27 EPS in-line
  • Stride (LRN) beats by $0.11, beats on revs; provides Q1 (Mar) guidance
  • Suja Life (SUJA) reports revs in-line; lowers FY26 revenue guidance
  • Taboola (TBLA) misses by $0.04, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Tanger Factory (SKT) beats by $0.03, beats on revs; ups FY26 FFO outlook
  • Teradata (TDC) beats by $0.13, beats on revs; provides Q3 (Sep) and FY26 guidance
  • TeraWulf (WULF) misses by $1.70, misses on revs
  • Thomson Reuters (TRI) beats by $0.03, beats on revs; provides Q3 (Sep) and FY26 guidance; raises dividend 10%
  • Toast (TOST) misses by $0.06, beats on revs; provides Q3 (Sep) and FY26 guidance
  • TransMedics Group (TMDX) misses by $0.06, beats on revs; provides FY26 guidance
  • Travere Therapeutics (TVTX) beats by $0.03, beats on revs, provides clinical update
  • Uber (UBER) beats by $0.01, reports revs in-line; guides Q3 EPS in-line
  • Ultragenyx Pharma (RARE) beats by $0.32, beats on revs; provides Q2 (Jun) and FY26 guidance
  • United Therapeutics (UTHR) beats by $0.41, misses on revs
  • Upstart (UPST) misses by $0.03, beats on revs; guides FY26 revs in-line
  • Utz Brands (UTZ) beats by $0.01, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Valvoline (VVV) beats by $0.07, beats on revs; provides FY26 guidance
  • Viasat (VSAT) reports Q1 (Jun) results, misses on revs
  • Voya Financial (VOYA) misses by $0.47, misses on revs; provides Q3 (Sep) and FY26 guidance
  • Workiva (WK) beats by $0.14, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Walt Disney (DIS) beats by $0.20, reports revs in-line; reaffirms FY26 EPS guidance
  • Wynn Resorts (WYNN) beats by $0.25, beats on revs
  • Zeta Global (ZETA) reports Q2 (Jun) results, beats on revs; guides Q3 revs above consensus; guides FY26 revs above consensus
  • Zimmer Biomet (ZBH) beats by $0.06, beats on revs; raises FY26 EPS in-line
• General News
  • The U.S., Iran, and Oman are nearing an interim agreement to reopen the Strait of Hormuz, which could be announced today. The interim agreement will last 60 days and could get extended. No tolls or fees would be charged during the 60-day period. Axios
  • Houthis threatened to attack Saudi oil tankers in the northern Red Sea. Bloomberg
  • President Trump says talks with Iran are "moving along very nicely," and he expects a deal on the Strait of Hormuz Wednesday or Thursday. He expressed frustration that Iran always denies talks are taking place. Fox News
  • White House plans to exclude open models from its framework to test artificial intelligence capabilities. Axios
  • Progressive Abdul El-Sayed narrowly wins Michigan's Democratic primary. He will face off against Republican Mike Rogers in what is expected to be one of the most competitive races in the country. NBC News
  • Progressive activist Will Lawrence wins primary for House seat in Michigan and will face Republican Tom Barrett in November. Democrats fear his left-leaning politics will make the swing seat much harder to win. Axios
  • Alphabet (GOOG) has expanded Gemini in Classroom to higher education students
  • Altria (MO): FDA authorizes 4 new nicotine pouches
  • Aramark (ARMK) wins long-term campus dining and hospitality contract at UCCS
  • Arrowhead (ARWR) acquires FDA priority review voucher for planned plozasiran sNDA in severe hypertriglyceridemia
  • Bio-Rad Labs (BIO) discloses strategy-driven restructuring program
  • Broadridge (BR) partners with Payward Services to add proxy voting for eligible xStocks holders
  • CDW (CDW) says CFO Albert Miralles plans to retire in 2027 after transition
  • Circle (CRCL) names Arc founding validator cohort, targets Sept. 16 public mainnet launch
  • Climb (CLMB) signs U.S. distribution deal with Harmonic Security for AI governance platform
  • CMC (CMC) boosts share repurchase authorization by $600 mln, bringing total remaining capacity to about $717 mln
  • Criteo (CRTO) names Connor McGogney CFO, effective Aug. 10
  • CVS (CVS) revamps direct-to-consumer GLP-1 program; partners with Eli Lilly (LLY) on app-based access
  • Eton Pharma (ETON) licenses U.S. rights to late-stage infantile hemangioma candidate ASN-001
  • EVgo (EVGO) to deploy Tesla Superchargers across U.S. network
  • Flutter (FLUT) names Dan Taylor CEO effective Oct. 1, 2026, succeeding Peter Jackson
  • General Motors (GM) will renew a joint venture with SAIC Motor. Bloomberg
  • Google (GOOG): Banks to sell $15 bln in debt connected with a Google data center in Texas. FT
  • HF Sinclair (DINO) entered into a Stock Purchase Agreement dated August 2, 2026 with REH Advisors
  • HII (HII) expands Ingalls welding automation with HD Hyundai Heavy pilot
  • IonQ (IONQ) signs Sandia National Laboratories MOU on quantum co-design for national security applications
  • IQVIA (IQV) partners with Medera on cardiac gene therapy and human-based drug discovery
  • Ivanhoe Electric (IE) announced that Michelle Lammers will join as Chief Operating Officer
  • JPMorgan Chase (JPM) CEO Jamie Dimon starting industry effort to manage AI risks, according to Reuters
  • Leonardo DRS (DRS) has signed an agreement for a new facility in Brookfield, Connecticut, that will expand and consolidate operations for its Naval Power Systems business
  • Lexeo (LXEO) gets FDA RMAT designation for LX2020 in PKP2 arrhythmogenic cardiomyopathy
  • Matthews International (MATW) says CEO Joseph Bartolacci to retire; board starts succession process
  • Natera (NTRA) submits Signatera to Japan PMDA for MIBC companion diagnostic approval
  • NESR (NESR) wins $300 mln of services and technology contracts in Kuwait
  • NetList (NLST) announces a strategic alliance with Samsung (SSNLF) with the signing of five-year term agreements for a patent portfolio cross license, memory product supply and technology cooperation
  • NioCorp Developments Ltd. (NB) confirms the signing of a non-binding Memorandum of Understanding with Lockheed Martin (LMT)
  • OpenAI & Anthropic models carried out "unsanctioned" actions. Bloomberg
  • Rambus (RMBS) starts $100 mln accelerated share repurchase program
  • Rocket Lab (RKLB) wins $397 mln U.S. Space Force SB-AMTI contract
  • Salesforce (CRM) says U.S. Army HRC selects Agentforce for 24/7 HR support
  • Salesforce (CRM) says Agentforce 360 gains IL5 authorization for Missionforce National Security
  • Samsung (SSNLF) and SK Hynix (SKHY) testing Chinese chip tools. Reuters
  • Sight Sciences (SGHT) gets FDA 510(k) clearance for OMNI Ultra glaucoma surgical system
  • So-Young (SY) names former Gaotu Techedu CFO Nan Shen as CFO
  • Suja Life (SUJA) holder Paine Schwartz plans open-market share purchases
  • STAAR Surgical (STAA) names Warren Foust president and CEO; Deborah Andrews to remain CFO and become EVP
  • Starbucks (SBUX): Police raid Starbucks headquarters in South Korea. Bloomberg
  • Sysco (SYY) halts iceberg lettuce purchases from Taylor Farms, Mexico amid U.S. cyclosporiasis outbreak, according to Reuters
  • Twist Bioscience (TWST) launches $250 mln common stock offering
  • Uber (UBER), Wayve clear London vehicle-licensing step for autonomous rides launch
  • V2X (VVX) wins $87 mln Navy contract for F/A-18 pylon sustainment
  • Venu Holding Corp. (VENU) provides a construction update highlighting continued progress at two of its marquee amphitheater developments: Regent Bank Amphitheater in Broken Arrow, Oklahoma, and Sunset Amphitheater in McKinney, Texas
  • Walt Disney (DIS) & TikTok announce a first-of-its-kind global short-form content-sharing deal

• Upgrades:
  • Advanced Energy (AEIS) upgraded to Buy from Neutral at Seaport Research, tgt $410
    
  • Archer Daniels Midland (ADM) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $79
    
  • Coupang (CPNG) upgraded to Buy from Hold at Deutsche Bank, tgt $21.50
    
  • e.l.f. Beauty (ELF) upgraded to Outperform from Market Perform at Bernstein, tgt $113
    
  • Entegris (ENTG) upgraded to Outperform from Perform at Oppenheimer, tgt $180
    
  • Expeditors (EXPD) upgraded to Neutral from Underweight at JPMorgan, tgt $200
    
  • Grupo Aeroportuario del Pacifico (PAC) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $225
    
  • Humana (HUM) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $370
    
  • Knife River (KNF) upgraded to Equal Weight from Underweight at Wells Fargo, tgt $73
    
  • Kratos Defense & Security (KTOS) upgraded to Overweight from Neutral at Piper Sandler, tgt $75
    
  • Prologis (PLD) upgraded to Outperform from Sector Perform at RBC Capital, tgt $160
    
  • Versigent (VGNT) upgraded to Outperform from Sector Perform at RBC Capital, tgt $52
    
  • Waters (WAT) upgraded to Buy from Hold at TD Cowen, tgt $475
• Downgrades:
  • Aptiv (APTV) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $55
    
  • Ball Corp. (BALL) downgraded to Neutral from Overweight at JPMorgan, tgt $65
    
  • Best Buy (BBY) downgraded to Hold from Buy at Jefferies, tgt $85
    
  • FIS (FIS) downgraded to Neutral from Buy at UBS, tgt $49
  • New Jersey Resources (NJR) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $61
    
  • Procept BioRobotics (PRCT) downgraded to Market Perform from Outperform at William Blair
    
  • Smith & Nephew (SNN) downgraded to Underweight from Equal Weight at Barclays
    
  • Sportradar (SRAD) downgraded to Neutral from Buy at UBS, tgt $16
    
  • TransDigm (TDG) downgraded to Hold from Buy at Stifel, tgt $1,405
    
  • Vale (VALE) downgraded to Neutral from Buy at BofA Securities, tgt $16
• Others:
  • Alpha Teknova (TKNO) initiated with a Buy at Roth Capital, tgt $7
    
  • CECO Environmental (CECO) initiated with a Buy at TD Cowen, tgt $85
    
  • Civeo (CVEO) initiated with a Strong Buy at Raymond James, tgt $51
    
  • Datavault AI (DVLT) initiated with a Buy at Litchfield Hills, tgt $2
    
  • Obsidian Therapeutics (OBX) initiated with an Overweight at Piper Sandler, tgt $42

• Econ Data (Thursday):
  • 8:30 ET: Preliminary Q2 Productivity (Briefing.com consensus 0.8%; prior 0.3%) and preliminary Q2 Unit Labor Costs (Briefing.com consensus 1.7%; prior 1.8%), weekly Initial Claims (Briefing.com consensus 200,000; prior 197,000), and Continuing Claims (prior 1.782 mln)
  • 10:00 ET: June Wholesale Inventories (Briefing.com consensus 0.3%; prior 0.3%)
  • 10:30 ET: Weekly natural gas inventories (prior +28 bcf)

• Earnings:
  • Monday (August 3)
    • Pre-Market: AVA CNA CNH DEA ECHO HESM KRYS MAR SBH SRAD TGTX TWST TSN
    • After-Hours: ADUS ADTN AEIS ARE ALSN AMRC ANDE AESI BCC BWXT CBT CSWC CLX CRGY CTOS FANG DORM LIFE EVER WGS GBDC IBTA ICHR IRT INSP JAZZ MATX NMFC NJR OKE ON OTTR PLTR PAY POWL SBRA SBAC STRL TDW TKO UCTT VVX VERX VRTX VNOM VNO VOYG WHR WMB PPLI SNAP
  • Tuesday (August 4)
    • Pre-Market: AHCO ADM AIN AME APO APTV ATKR BALL BRBR BNTX BXDC BP BR BRKR CAT CTRI CERT CIFR CMI DOCN DUK DD ENR ET NPO ENTG FIS FWRG IT GWW GPK HLNE HRMY HSIC IDXX INGR IPGP KMB KIM KNF LDOS LGIH MCD MRK MRP MPLX NRG OPLN MD PFE PNW PEG Q RVTY RYTM ROK SHLS SPOT SUN SYY TKR TSEM TPG TDG TREX TPB ULS PRKS WAT W WLK WIX XMTR ZBRA ARVN
    • After-Hours: ACAD AMD AGNT ALGT ATEC AFG AMGN ANGI ANET ARWR AIZ ALAB BBBY BIO BL BKNG BV CALY CE SKY CC CRBG CPNG CACC CRNX DVA DVN DEI EMR EQH WTRG EVTC ECG FLYW FBIN FRSH GILD GXO DOC HL HNGE IOSP INTA IPAR IFF J JAN KAI KTOS LSCC LMAT LNWO LCID LUMN MAC MQ MBC MTCH MAT MNTN MOS OGS OPEN PCRX PLMR PARR PSKY PINS PGEN PRIM PRCT PRU QLYS RRR RVLV WTTR TSLX SPCX LRN SU SUPN SNDX TALO SKT TDC TX TOST TMDX TVTX RARE UPST VSAT VOYA WK WYNN EXPD MPC PCTY
  • Wednesday (August 5)
    • Pre-Market: ADNT AMPX AVT ONC BCRX BLMN BWA CPRI CG CDW COR CRL CHH CRCL YOU CRTO CWK CVS DK DIN LPG DT ECVT EPC ELAN LLY EVGO EXTR FLUT FRPT GLXY ROCK GPN GFS GFF PODD IRM JJSF KMT KHC KYMR KD LCII LINE LIVN LPX MTRN MDLN VYX NYT NICE NI NWN OC PRGO PSX PRMB RRX SHAK SN SEDG SWX SR TBLA WULF TRI UBER UTHR UTZ VVV VSH DIS XPEL ZBH BCO
    • After-Hours: ATEN ADMA ALB ALL AWR APA APP ACA RCUS ARRY ATO AXON BBDC BLLN BKH XYZ OBDC OTF BMBL CACI CAI CENT LEU CF CHYM CHRD CRUS CDE CGNX CMP CPA CXW CPAY CXT CW DAVE DLX DHT DGII DIOD DASH DUOL BROS ELF EBAY ACT EHC ECPG ETSY EVCM EE EXEL EXPE FSLY FNF FIG FLNC FWRD FIP GNK GDRX GT HLF HMN HST HHH HUBS IONQ JOBY KMPR KNTK KVYO KLIC LB LZ LFMD RAMP LTC MGNI MNKD MFC MTDR MCK MELI MET MIAX MIRM MKSI MSI MWA MUR MUSA NHP NWSA NOVT SMR NTR OXY ORA OUT PTRN PAYC PR PTLO POWI PRI QGEN RDN RYN O RDW RELY RVMD ROOT RGLD SNDK SRPT SDGR SBGI SITM SM SOLV SOUN STE RUN SYM TS TNC RIG TROX TRUP TTMI TPC USPH VAL VECO VRRM VIAV VIR VSEC HCC WTS WDC WES ZG GTM NVST HP MGY
  • Thursday (August 6)
    • Pre-Market: ACIW GOLF WMS COLD APPN ARHS ATI ATS AVNT ACLS BDX BSY BKV BKSY BOBS CARS CECO CELH LNG CQP CCOI COLL COP CEG CNR DDOG DNOW DRVN DCO QBTS ENOV EPAM ESAB ESTA EVRG EVH FA FISV FOXA FTDR FSK GEL GENI GEO GSL GOGO GPGI GHM GPRE HAE HTZ HIMX HWM IMVT NSIT INSM IBP ITGR NTLA IOVA ITT KVUE KDP KOP DNUT LAMR LNTH LEG LFST LOAR MTSI VAC MMS MDU TAP NTCT NXST NVMI NVAX OSCR PZZA PH PAYO PTON PENN PLNT PLTK PRVA RL QSR ROIV RXO SRRK SRE FOUR SSTK SGI SHC STWD TNDM TGLS TFX TRIP U USFD VSNT VTRS VITL VNT WD WRBY WBD ZTS LGND UUUU
    • After-Hours: TXG AFL ABNB AKAM ALRM AHR AIG AMN AMRZ AAOI ARDX APC ARLO ARW AGO ASTH TEAM AVPT BTG BMRN CARG CWST CENX CPK CLNE CLSK NET ED CON CRSR CYTK DNLI XRAY DV DOCS DKNG DBX EQX ESE XZO FIGS FIVN FOXF GEN G GMED GRDN HALO ICFI ICUI INDI INOD CART IRTC JHX FROG KRMN KGS LION LYFT MTW MARA MCHP MNST MP NTRA NAVI NRDS NTGR LASR NOG OFRM ONTO OTEX PRDO POST PGNY QDEL RCAT RGA RSG RMD RGTI RLJ RKT ROKU RHP SVV SEZL SHAZ SARO SG SYNA TXRH REAL TTD TWLO WMG WEST WPM WSC XENE XPOF YELP ZD ZYME PK
  • Friday (August 7)
    • Pre-market: ACMR AQN AMR ANIP ATMU CLMT ROAD EMBC ESNT FLR TILE KRP OKLO PAA PPL SPB SLVM UAA WEN TTWO GTN
    • Afternoon: None