Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Amazon (AMZN) reported a quarterly revenue miss and provided lower than expected sales guidance for Q3 [more]
- Pinterest (PINS) reported mixed Q2 results including a "negative active user inflection" [more]
- Procter & Gamble (PG) reported better than expected core earnings and revenue for Q4 [more]
- Chevron (CVX) reported upbeat Q2 results and said it will resume share repurchases [more]
- Exxon Mobil (XOM) also reported better than expected quarterly results [more]
2. WALL STREET CALLS:
- JPMorgan downgrades Pinterest (PINS) to Neutral, Evercore cuts to In Line after earnings report [more]
- Mondelez (MDLZ) downgraded to Buy from Conviction Buy at Goldman Sachs [more]
- Cowen upgrades Nokia (NOK) to Outperform on favorable demand, turnaround progress [more]
- T-Mobile (TMUS) upgraded to Outperform from Sector Perform at RBC Capital [more]
- Proofpoint (PFPT) downgraded to Market Perform from Outperform at JMP Securities [more]
3. AROUND THE WEB:
- Duolingo (DUOL) is allowing staff to sell shares early, WSJ reports [more]
- A Tesla (TSLA) Megapack caught fire at a giant battery project in Australia, Electrek says [more]
- China officials are delaying a review of Nvidia's (NVDA) deal for Arm, Information reports [more]
- Uber (UBER) will make COVID-19 vaccination mandatory for U.S. employees, Reuters says [more]
- Bayer (BAYRY) is setting aside additional funds to resolve Roundup litigation, WSJ reports [more]
4. MOVERS:
- Atlassian (TEAM) soars after reporting quarterly results [more]
- KLA Corp. (KLAC) jumps after reporting quarterly results, raising its quarterly dividend, and announcing a $2B share buyback [more]
- Maxar Technologies (MAXR) rises after Kerrisdale said it is long on the stock [more]
- Upwork (UPWK) slips after reporting quarterly results [more]
- Cassava (SAVA) falls after STAT said that Alzheimer's scientists called recent clinical trial results "overblown" [more]
5. EARNINGS/GUIDANCE:
- AbbVie (ABBV) provided a "beat and raise" report [more]
- Gilead (GILD) also provided a "beat and raise" report [more]
- T-Mobile (TMUS) reported upbeat quarterly results [more]
- Zendesk (ZEN) reported downbeat quarterly results [more]
- Liberty Global (LBTYA) reaffirmed its FY guidance [more]
INDEXES:
Near midday, the Dow was down 125.06, or 0.36%, to 34,959.47, the Nasdaq was down 97.45, or 0.66%, to 14,680.81, and the S&P 500 was down 22.81, or 0.52%, to 4,396.34.