After Hours Report

Updated: 29-Jul-25 17:00 ET
Starbucks perks up despite earnings miss

For the second consecutive day, early gains in the stock market pushed the S&P 500 (-0.3%) and Nasdaq Composite (-0.4%) to record intraday highs, though a late morning sell-off proved to be insurmountable and saw the major averages close in negative territory, unable to secure record closing highs.

At peak levels the S&P 500 established a new record high at 6,409.26, and the Nasdaq secured a record of its own at 21,303.96.

Around the same time, NVIDIA (NVDA 175.51, -1.24, -0.7%) also pushed to a new record high of $179.38 following earlier headlines that the company purchased 300,000 H20 chips from Taiwan Semiconductor Manufacturing (TSM 241.33, -1.42, -0.6%) to satisfy a notable demand in China.

A sell-off ensued from the record high levels, ultimately sending the information technology sector (-0.2%) into negative territory for the day after rising 0.7% in the early going. The PHLX Semiconductor Index finished with a modest gain of 0.2%.

The industrials (-1.1%), health care (-0.8%), consumer discretionary (-0.7%), financials (-0.6%), materials (-0.3%), and communication services (-0.4%) sectors round out the seven sectors that finished in negative territory. 

While equity futures were initially buoyed by today's sizable batch of earnings reports, a lack of major developments on the trade front or elsewhere left the market unable to rebound from the late morning sell-off.

A cohort of blue-chip stocks also retreated following their earnings before the open, including UPS (UPS 90.84, -10.74, -10.6%), UnitedHealth (UNH 261.37, -20.75, -7.4%), Royal Caribbean (RCL 334.38, -17.62, -5.0%), Nucor (NUE 140.68, -3.84, -2.6%), and Merck (MRK 82.69, -1.37, -1.6%).

Stocks of all sizes retreated, as evidenced by similar losses between the Vanguard Mega Cap Growth ETF (-0.6%) and the Russell 2000 (-0.7%). The S&P Mid Cap 400 (-0.2%) outperformed the broader market but still closed with a modest loss.

Despite the broad-based losses, the real estate (+1.7%), utilities (+1.2%), energy (+1.0%), and consumer staples (+0.8%) sectors captured healthy gains today.

The energy sector benefitted from an increase in crude oil prices that settled today's session $2.47 higher (+3.7%) at $69.22 per barrel. The price increase followed comments from President Trump on Air Force One that Russia will face secondary sanctions if it does not stop the Ukraine war by the deadline, which is 10 days from now.

Meanwhile, the real estate and utilities sectors were supported by a strong rally in treasuries that sent yields on the 10-year note and the 30-year bond to their lowest levels since early July, back below their respective 50-day moving averages, with the 10-year yield also sliding past its 200-day moving average. The 2-year note yield settled down five basis points at 3.88%, and the 10-year note yield settled down nine basis points at 4.33%.

The rally preceded tomorrow's release of the FOMC policy statement, which is not expected to call for a rate cut, but the decision is not expected to be unanimous, with at least one policymaker dissenting.

In addition to the Fed statement, the market will also receive Advance Q2 GDP readings as well as another hefty batch of earnings reports, all of which could either reinforce today's downward trend or provide the catalyst for a renewed push toward record highs.

  • Nasdaq Composite: +9.3% YTD
  • S&P 500: +8.3% YTD
  • DJIA: +4.9% YTD
  • S&P 400: +2.7% YTD
  • Russell 2000: +0.6% YTD

Reviewing today's data:

  • The Conference Board's Consumer Confidence Index rose to 97.2 in July (Briefing.com consensus 95.5) from an upwardly revised 95.2 (from 93.0) in June. In the same period a year ago, the index stood at 101.9.
    • The key takeaway from the report is that the improvement was driven by an increase in the expectations index, though that index remains below a level that is typically indicative of a recession ahead.
    • The Present Situation Index fell to 131.5 from 133.0.
    • The Expectations Index rose to 74.4 from 69.9, remaining below 80, which is a level that typically signals recession ahead.
    • Average 12-month inflation expectations fell to 5.8% from 5.9%.
  • Job openings for June decreased to 7.437 million from a revised 7.712 million (from 7.769 million) in May.
  • The FHFA Housing Price Index was down 0.2% in May (Briefing.com consensus -0.2%) after a revised reading of -0.3% (from -0.4%) in April.
  • The S&P Case-Shiller Home Price Index was up 2.8% in May (Briefing.com consensus 3.0%) after increasing 3.4% in April.
  • The advance goods trade deficit reached $85.9 bln in June, up from a revised $96.4bln (from $96.66 bln) deficit in May.Advance Retail Inventories were up 0.3% in June after increasing a prior unrevised 0.3% in May, while advance Wholesale Inventories were up 0.3% in June after a prior 0.3% decrease in May.

 

Overseas:

  • Europe: DAX +1.0%, FTSE +0.6%, CAC +0.7%
  • Asia: Nikkei -0.8%, Hang Seng -0.2%, Shanghai +0.3%

Commodities:

  • Crude Oil +2.47 @ 69.22
  • Nat Gas +0.07 @ 3.14
  • Gold +14.30 @ 3323.90
  • Silver +0.07 @ 38.30
  • Copper +0.02 @ 5.63

After-Hours Spotlight:

  • Avis Budget (CAR) reports Q2 (Jun) results, beats on revs... CAR -4.1%
  • Booking Holdings (BKNG) beats by $5.08, beats on revs; guides Q3 revs in-line; guides FY25 revs above consensus.. BKNG -2.2%
  • Caesars Entertainment (CZR) reports Q2 (Jun) results, beats on revs... CZR -1.7%
  • Chemed (CHE) misses by $0.97, misses on revs; adjusts FY25 guidance... CHE -3.2%
  • Electronic Arts (EA) beats by $0.22, beats on revs; guides Q2 EPS below consensus, revs below consensus; reaffirms FY26 EPS guidance, revs guidance... EA -0.9%
  • MicroStrategy (MSTR) d/b/a Strategy Announces closing of $2.521 billion STRC stock initial public offering; Strategy utilized net proceeds from the offering for the acquisition of 21,021 bitcoins at an average purchase price of approximately $117,256 per bitcoin... MSTR unchanged
  • Mondelez Int'l (MDLZ) beats by $0.05, beats on revs; maintains 2025 sales growth target, sees 10% EPS decline on cocoa inflation; increases dividend... MDLZ -3.0%
  • Penumbra (PEN) beats by $0.04, beats on revs; ups FY25 revs outlook... PEN +6.3%
  • PPG Industries (PPG) misses by $0.01, reports revs in-line; reaffirms FY25 EPS guidance... PPG unchanged
  • Qorvo (QRVO) beats by $0.29, beats on revs; guides Q2 EPS above consensus, revs above consensus... QRVO +8.5%
  • Republic Services (RSG) beats by $0.02, reports revs in-line; reaffirms FY25 EPS guidance, lowers FY25 revs below consensus... RSG -1.6%
  • Seagate Tech (STX) beats by $0.14, reports revs in-line; guides Q1 EPS in-line, revs in-line... STX -6.7%
  • Starbucks (SBUX) misses by $0.15, beats on revs, Global comps of -2%, North America comps of -2%... SBUX +3.7%
  • Visa (V) beats by $0.13, beats on revs.... V -2.8%

Fair Value for Wednesday, July 30:

  • S&P 500: 6,403
  • Nasdaq 100: 23,444
  • DJIA: 44,797
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):
    • Alkermes Plc (ALKS) beats by $0.16, beats on revs; reaffirms FY25 revs guidance; to Present Detailed Vibrance-1 results at Upcoming World Sleep Congress
    • American Tower (AMT) beats by $0.01, beats on revs; raises FY25 guidance
    • Amkor (AMKR) beats by $0.11, beats on revs; guides Q3 EPS in-line, revs above consensus
    • Anywhere Real Estate (HOUS) misses by $0.07, misses on revs; Issues 2025 guidance, expects to realize cost savings of approximately $100 mln in 2025
    • Armstrong World Industries (AWI) beats by $0.31, beats on revs; raises FY25 EPS above consensus, revs in-line
    • Bandwidth (BAND) beats by $0.05, reports revs in-line; guides Q3 revs below consensus; guides FY25 revs in-line
    • Bank of N.T. Butterfield & Son (NTB) beats by $0.02, increases dividend, new 1.5 mln share repurchase authorization
    • Barclays (BCS) reports H1 results; provides outlooks for 2025 and 2026
    • Beyond, Inc. (BYON) beats by $0.02, beats on revs
    • Boeing (BA) beats by $0.16, beats on revs; 737 program increased production rate to 38/mo; 787 program production rate increased to 7/mo
    • Brightstar Lottery (BRSL) misses by $0.05, beats on revs; lowers FY25 revenue guidance; Co is launching $250 mln accelerated share repurchase program
    • Brixmor Property (BRX) beats by $0.01, beats on revs; guides FY25 FFO in-line
    • Cadence Design (CDNS) beats by $0.09, beats on revs; raises FY25 EPS, revs guidance
    • Carrier Global (CARR) beats by $0.01, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
    • CBRE Group (CBRE) beats by $0.12, beats on revs; guides FY25 EPS above consensus
    • CECO Environ. (CECO) beats by $0.06, beats on revs; guides FY25 revs above consensus
    • Celestica (CLS) beats by $0.15, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus
    • Chart Industries (GTLS) beats by $0.11, misses on revs
    • Cincinnati Fincl (CINF) beats by $0.56, misses on revs
    • Constellium (CSTM) misses by $0.05, beats on revs; Guides for FY25 adjusted EBITDA of $620-$650 mln
    • Corning (GLW) beats by $0.03, beats on revs; guides Q3 EPS above consensus, revs above consensus
    • Crane (CR) beats by $0.16, beats on revs; raises FY25 EPS in-line, revs below consensus
    • Curbline Properties (CURB) beats by $0.17, beats on revs
    • DTE Energy (DTE) misses by $0.04; reaffirms FY25 EPS guidance
    • Eagle Materials (EXP) beats by $0.08, beats on revs
    • Eli Lilly's (LLY) Jaypirca (pirtobrutinib), the first and only approved non-covalent (reversible) BTK inhibitor, met its primary endpoint in a head-to-head Phase 3 trial versus Imbruvica (ibrutinib) in CLL/SLL
    • Exelixis (EXEL) beats by $0.09, misses on revs; reaffirms FY25 revs guidance
    • Expro Group (XPRO) beats by $0.08, beats on revs; reaffirms FY25 revs guidance
    • Flowserve (FLS) beats by $0.13, misses on revs; raises FY25 EPS guidance; lowers FY25 top end of FY25 revenue guidance
    • GeneDx (WGS) beats by $0.38, beats on revs; raises FY25 revenue guidance
    • Graphic Packaging (GPK) beats by $0.02, beats on revs; guides FY25 EPS in-line, revs in-line
    • Harmonic (HLIT) beats by $0.07, beats on revs; guides Q3 EPS below consensus, revs below consensus
    • Hartford Financial (HIG) beats by $0.58, reports revs in-line
    • Hubbell (HUBB) beats by $0.50, misses on revs; guides FY25 EPS above consensus, revs in-line
    • JetBlue Airways (JBLU) beats by $0.17, beats on revs
    • Johnson Controls (JCI) misses by $0.11, misses on revs; guides Q4 EPS above consensus
    • Kforce (KFRC) reports EPS in-line, revs in-line; guides Q3 EPS mostly below consensus, revs below consensus
    • Kilroy Realty (KRC) beats by $0.14, beats on revs; raises FY25 FFO above consensus
    • Lithia Motors (LAD) beats by $1.00, reports revs in-line
    • Merck (MRK) beats by $0.11, reports revs in-line; guides FY25 EPS above consensus, revs in-line
    • MGM Resorts (MGM): BETMGM reports 2Q/1H 2025 update & FY2025 guidance increase
    • Neogen (NEOG) misses by $2.77, beats on revs; guides FY25 revs below consensus
    • Norfolk Southern (NSC) misses by $0.02, reports revs in-line
    • Novo Nordisk A/S (NVO) lowers sales and operating profit outlook for 2025; sees Q2 EPS of DKK 5.96 vs. DKK 6.04 FactSet consensus; lowers FY25 CER sales growth of 8-14% versus 13-21% prior guidance
    • Nucor (NUE) beats by $0.05, reports revs in-line
    • Pathward Financial (CASH) beats by $0.14, beats on revs
    • PayPal (PYPL) beats by $0.10, beats on revs; guides Q3 EPS in-line; raises FY25 EPS guidance
    • Philips (PHG) reports revs in-line; provides outlook
    • Piedmont Office Realty Trust (PDM) beats by $0.01, beats on revs; guides FY25 FFO in-line
    • PJT Partners (PJT) beats by $0.11, beats on revs
    • Polaris Industries (PII) beats by $0.40, beats on revs; guides Q3 revs in-line
    • PotlatchDeltic (PCH) reports Q2 results
    • Principal Fincl (PFG) beats by $0.19
    • Procter & Gamble (PG) beats by $0.06, reports revs in-line; guides FY26 EPS in-line, revs in-line
    • Rambus (RMBS) reports Q2 (Jun) results, beats on revs; Issues Q3 outlook, including Product revenue of $87-$93 mln
    • Repligen (RGEN) misses by $0.02, beats on revs; guides FY25 EPS in-line, revs above consensus
    • Royal Caribbean (RCL) beats by $0.29, reports revs in-line; guides Q3 EPS below consensus; guides FY25 EPS in-line
    • Sanmina (SANM) beats by $0.11, beats on revs; guides Q4 EPS in-line
    • Shutterstock (SSTK) beats by $0.63, beats on revs
    • Simpson Manufacturing (SSD) beats by $0.21, beats on revs
    • SoFi Technologies (SOFI) beats by $0.02, beats on revs; guides FY25 EPS above consensus, revs above consensus
    • Spotify (SPOT) reports Q2 (Jun) results, misses on revs; guides Q3 revs below consensus; approves $1 bln increase to share buyback plan
    • Stanley Black & Decker (SWK) reports Q2 (Jun) results, misses on revs; raises FY25 EPS above consensus
    • Stellantis (STLA) reports H1 results; re-establishes guidance
    • UFP Industries (UFPI) misses by $0.14, misses on revs; Authorized repurchase of up to $300 mln of shares, superseding and replacing prior repurchase program
    • Ultra Clean Holdings (UCTT) reports EPS in-line, beats on revs; guides Q3 EPS in-line, revs in-line
    • UnitedHealth (UNH) misses by $0.40, reports revs in-line; guides FY25 EPS below consensus, revs below consensus
    • Universal Health (UHS) beats by $0.43, beats on revs; guides FY25 EPS above consensus, revs in-line
    • UPS (UPS) misses by $0.01, beats on revs
    • Veralto (VLTO) beats by $0.05, beats on revs; guides Q3 EPS in-line; raises FY25 EPS and core sales growth guidance
    • Waste Mgmt (WM) beats by $0.03, beats on revs; guides FY25 revs below consensus, Affirms adjusted operating EBITDA guidance
    • Welltower (WELL) beats by $0.05, beats on revs; guides FY25 FFO above consensus; increases dividend
    • Western Union (WU) misses by $0.02, misses on revs; lowers FY25 EPS below consensus, revs in-line
    • Whirlpool (WHR) misses by $0.34, misses on revs; guides FY25 EPS below consensus, reaffirms FY25 revs guidance; Board recommends reduction in quarterly dividend
    • Woodward (WWD) beats by $0.13, beats on revs; guides FY25 EPS above consensus, revs in-line
  • General News
    • France criticized EU trade deal with U.S. calling it "a dark day" for the European alliance and demanding retaliation, according to NY Times
    • Senator Josh Hawley introduces legislation to send Americans $600 checks from tariff revenue after President Trump suggested the idea. However, the legislation has a long road to become law, according to NBC News
    • President Trump says he is not "seeking" a summit with Chinese President Xi; says he may go to China, but only at the invitation of President Xi, which has been extended
    • Commerce Secretary Howard Lutnick in interview says he expects China and U.S. will agree to 90 day tariff extension as trade talks continue today, according to Bloomberg
    • Premiums for Medicare part d drug plans expected to increase, according to WSJ
    • Trump Organization is suing sellers from Amazon, eBay, and Walmart for distributing fake merchandise featuring President Trump, according to CNBC
    • Upcoming pharmaceutical tariffs will likely cost European drugmakers billions, according to NY Times
    • White House interested in access to Myanmar's rare earths, according to Reuters
    • EU planning to build new AI gigawatt factories worth billions, according to CNBC
    • Commerce Secretary Howard Lutnick urged South Korea to bring their best trade offer to talks, according to WSJ
    • President Trump tells reporters on Air Force One that he could meet with Chinese President Xi by the end of the year
    • EPA confirms proposal to rescind Obama-Era endangerment finding, regulations that paved the way for electric vehicle mandates
    • Apellis Pharmaceuticals (APLS) receives FDA approval for EMPAVELI
    • Apple (AAPL) to close retail store in China for the first time, according to Bloomberg
    • Apple (AAPL): JP Morgan (JPM) in discussions to take over management of Apple's (AAPL) credit card from Goldman (GS), according to WSJ
    • Ares Management (ARES) announces that a fund managed by the Ares Infrastructure Opportunities strategy and Savion Equity, a subsidiary of Shell plc, have established Tango Holdings, a joint venture that will support solar energy development and management in the United States
    • Avis (CAR) and Waymo (GOOG, GOOGL) will introduce Robotaxi service in Dallas, according to Bloomberg
    • BCE Inc's (BCE) Bell Canada launches HGTV, Food Network and Discovery on Bell TV; signs deal with Rogers (RCI) for specialty channel distribution across platforms
    • Biogen (BIIB): CDA issues positive reimbursement recommendation for SKYCLARYS the only health Canada-approved treatment for managing friedreich ataxia
    • Bitmine Immersion Technologies (BMNR) announces that its Board of Directors has approved a stock repurchase program to acquire up to $1 bln of the company's outstanding common stock
    • Blackstone (BX): A shooting occurred at the Blackstone building in NYC. 4 people were killed, including a Blackstone employee, according to WSJ
    • Bristol-Myers (BMY) and Bain Capital announce the creation of a new independent biopharmaceutical company focused on developing new therapies for autoimmune diseases that address significant unmet needs of patients
    • Cadence Design (CDNS) agrees to pay BIS and the DOJ aggregate net penalties and forfeitures of $140.6 million during the fiscal quarter ending September 30
    • Cintas (CTAS) increases quarterly cash dividend increases quarterly cash dividend 15.4% to $0.45/share from $0.39/share
    • CVS Health (CVS): Aetna announces the introduction of Aetna Care Paths and AI-driven programs as part of the company's ongoing technology investment to improve the experience for medical professionals and their patients
    • CyberArk (CYBR): Palo Alto Networks (PANW) nears deal to buy CyberArk, boosting AI-focused security ambitions, according to WSJ
    • eBay (EBAY) unveils new checkout solution for vehicle transactions; Secure Purchase offers a trusted, seamless digital experience that makes buying and selling cars, trucks and motorcycles online more convenient
    • EyePoint Pharmaceuticals (EYPT) has completed enrollment of its Phase 3 pivotal program with the full enrollment of the LUCIA trial, the second of two identical ongoing pivotal non-inferiority trials evaluating DURAVYU for the treatment of wet age-related macular degeneration
    • Fidelity Nat'l Info (FIS) announces a new partnership with a subsidiary of Circle Internet Group, (CRCL) to give financial institutions the ability to transact in USDC, the world’s largest regulated stablecoin
    • Fluor (FLR) receives final notice to proceed from Barrick Mining Corporation on its Reko Diq Project in Balochistan, Pakistan
    • Fulcrum Therapeutics (FULC) reports positive results from the 12 mg dose cohort of the Phase 1b PIONEER trial of pociredir in sickle cell disease
    • Gilat Satellite (GILT) announces that its defense division, Gilat Defense, has been awarded a contract valued at over $8 mln by Israel’s Ministry of Defense for the delivery and integration of satellite communication systems and services
    • Globe Life (GL): DOJ will not be taking enforcement action against Globe Life or AIL
    • JetBlue Airways (JBLU) and United (UAL) completed the U.S. DOT review of their Blue Sky collaboration and are able to proceed to implementation
    • Kellanova (K): EC Mars / Kellanova provisional deadline suspended (from July 28, 2025)
    • Labcorp Holdings Inc. (LH) announces that PGDx elio tissue complete has been CE-marked under the European Union's new In Vitro Diagnostic Regulation
    • loanDepot (LDI) announces that Company Founder and Chairman of the Board Anthony Hsieh has been appointed permanent Chief Executive Officer by its Board of Directors, effective immediately
    • Lockheed Martin (LMT) awarded a $2.06 bln modification to a previously awarded Missile Defense Agency contract
    • Marti Technologies (MRT) will initiate a corporate treasury strategy that incorporates the acquisition of certain crypto assets as part of a diversified approach to managing cash reserves
    • MasterCraft (MCFT) subsidiary, MasterCraft Boat Company, announces continued expansion of its dealer network with a new partnerships with Hagadone Marine Center
    • Microsoft (MSFT) in discussions to gain access to OpenAI technology, according to Bloomberg
    • Modine Manufacturing (MOD) announces a multimillion-dollar investment to expand U.S. manufacturing capacity for Airedale by Modine data center cooling products
    • MSC Industrial (MSM) announces that CFO Kristen Actis-Grande has decided to step down from her position with MSC effective August 8; Greg Clark will assume the position of interim CFO; Sees Q4 trending towards upper end of guidance range
    • Nano Dimension (NNDM) announces that its subsidiary, Desktop Metal has filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code
    • Natera (NTRA) announces the launch of the TEODOR trial
    • Netflix's (NFLX) "Happy Gilmore 2" had 46.7 mln views, according to Variety
    • NIKE (NKE) is voluntarily filing 8-K to correct an error relating to the amount of the product purchase obligations as of May 31, 2025
    • Norfolk Southern (NSC) and United Pacific (UNP) execs interviewed on CNBC following merger
    • Northern Trust (NTRS) announces new $2.5 bln stock repurchase authorization
    • Nvidia (NVDA) placed an order for 300K H-20 chips from TSMC (TSM), according to Bloomberg
    • Nyxoah’s (NYXH) DREAM pivotal study data published in the journal of clinical sleep medicine
    • Procter & Gamble (PG) Shailesh Jejurikar to become CEO on Jan 1; current CEO Jon Moeller will become Executive Chairman
    • PTC Therapeutics (PTCT) wins FDA approval for Sephience to treat PKU in patients as young as one month
    • Radware (RDWR) announces it signed managed security service provider agreements with Epcom World Industries, Inc., GLESEC, North Atlantic Networks and Tech Pro
    • Ranger Energy Services (RNGR) to launch industry’s first hybrid double electric workover rigs
    • Richardson Elec (RELL) announces a partnership agreement with KEBA Industrial Automation to bring to market a new line of cost-efficient pitch systems for wind turbine installations across North America
    • Sarepta Therapeutics (SRPT): FDA informs Sarepta That It Recommends That Sarepta Remove Its pause and resume shipments of ELEVIDYS for ambulatory individuals with duchenne muscular dystrophy
    • Seagate Tech (STX) announces that Chief Executive Officer Dave Mosley has been unanimously elected by the Board of Directors to the additional role of Board Chair, effective following the conclusion of Seagate’s 2025 Annual General Meeting of Shareholders, which is expected to be held in October 2025
    • Shell plc (SHEL): Savion Equity and a fund managed by the Ares Infrastructure Opportunities strategy announce the formation of Tango Holdings, a joint venture that will manage 496 megawatts of Savion-developed solar projects in Ohio, Kentucky, Oklahoma, and Indiana
    • Skechers (SKX) responds to Kizik’s patent lawsuit
    • SkyWater Technology (SKYT) announces a license agreement with Infineon Technologies, granting access to a robust library of silicon-proven, mixed-signal ASIC design IP
    • Spire Global (SPIR) was awarded a contract by the European Space Agency to supply historical weather data collected by its satellites
    • SunPower (SPWR): Daniel Foley resigned from his position as Chief Financial Officer of Complete Solaria on July 22, 2025
    • TAT Technologies (TATT) announces the signing of a new $10 million contract with a leading Israeli defense integrator for the supply of OEM components
    • UBS (UBS) wants bankers to scale back sales of complex currency derivatives, according to FT
    • UFP Industries (UFPI) Board of Directors approve plan to close Bonner, Montana manufacturing facilities
    • Union Pacific (UNP): Railroad signalmen union warns merger of Union Pacific and Norfolk Southern (NSC) poses safety, job risks
    • United Airlines (UAL): Association of Flight Attendants says United flight attendants vote to go back to the negotiations table
    • Valneva SE (VALN): AGC Biologics announced a development and manufacturing services agreement with Valneva to supply drug substance for an investigational four-valent Shigella bioconjugate vaccine at the CDMO’s Heidelberg facility
    • Walmart (WMT) signs multi-year partnership with Major League Soccer and Leagues Cup To elevate the game for U.S. fans
    • Weatherford (WFRD) has been awarded a significant contract to deliver Managed Pressure Drilling services for the Trion project
    • Wells Fargo (WFC) confirms plans to increase quarterly dividend to $0.45 from $0.40/share
    • WeRide (WRD) and Uber (UBER) expand Robotaxi reach in Abu Dhabi
  • Upgrades:
    • Afya (AFYA) upgraded to Neutral from Sell at Citigroup, tgt $14
    • BlackLine (BL) upgraded to Outperform from Market Perform at Raymond James, tgt $67
    • CF Industries (CF) upgraded to Neutral from Underweight at JPMorgan, tgt $92
    • Edwards Lifesciences (EW) upgraded to Buy from Neutral at BTIG Research, tgt $100
    • Equity Lifestyle (ELS) upgraded to Overweight from Equal Weight at Barclays, tgt $67
    • Sarepta Therapeutics (SRPT) upgraded to Neutral from Underweight at JPMorgan, tgt $24
    • Sarepta Therapeutics (SRPT) upgraded to Outperform from Perform at Oppenheimer, tgt $37
  • Downgrades:
    • Adaptimmune Therapeutics (ADAP) downgraded to Neutral from Buy at H.C. Wainwright
    • Albemarle (ALB) downgraded to Underperform from Neutral at Robert W. Baird, tgt $60
    • Cadence Design (CDNS) downgraded to Neutral from Overweight at Piper Sandler, tgt $355
    • Domino's Pizza (DPZ) downgraded to Sector Perform from Outperform at RBC Capital, tgt $500
    • Healthpeak Properties (DOC) downgraded to Sector Perform from Outperform at Scotiabank, tgt $19
    • Medpace (MEDP) downgraded to Sell from Neutral at UBS, tgt $305
    • Whirlpool Corporation (WHR) downgraded to Underperform from Neutral at BofA Securities, tgt $70
  • Others:
    • Brookfield Asset Management (BAM) initiated with an Outperform at National Bank, tgt $71
    • Brookfield Corp. (BN) initiated with an Outperform at National Bank, tgt $82
    • D-Wave Quantum (QBTS) initiated with a Buy at Rosenblatt, tgt $30
    • IonQ (IONQ) initiated with a Buy at Rosenblatt, tgt $70
    • Lionsgate Studios (LION) initiated with a Peer Perform at Wolfe Research
    • NICE Systems (NICE) assumed with a Neutral at DA Davidson, tgt $195
    • SANUWAVE Health (SNWV) initiated with a Buy at Roth Capital, tgt $49
    • Sarepta Therapeutics (SRPT) initiated with a Market Perform at Bernstein, tgt $13
  • Econ Data (Wednesday):
    • 07:00 ET: MBA Mortgage Applications Index (prior 0.8%)
    • 08:15 ET: July ADP Employment Change Report (Briefing.com consensus: 78K; prior -33K)
    • 08:30 ET: Adv. Q2 GDP (Briefing.com consensus: 2.5%; prior -0.5%) and GDP Deflator (Briefing.com consensus: 2.6%; prior 3.8%)
    • 10:00 ET: June Pending Home Sales (Briefing.com consensus: 0.4%; prior 1.8%)
    • 10:30 ET: EIA Crude Oil Inventories (prior -3.17M)
    • 14:00 ET: FOMC Rate Decision (Briefing.com consensus: 4.25-4.50%; prior 4.25-4.50%)
  • Earnings:
    • Monday (July 28)
      • Pre-Market: BOH EPD RVTY
      • After-Hours: ABCB AMKR NTB BYON BRX BRO CDNS CINF CNO CDP CR CURB EXEL HLIT HIG KFRC KRC NOV NUE OLN PDM PCH PFG RMBS SANM SSD UFPI UCTT UHS VLTO WM WELL WU WHR WWD
      Tuesday (July 29)
      • Pre-Market:  ALKS AMT HOUS ARCC AWI ABG AZN BA BAND BRSL CARR CBRE CECO CLS CVLT CSTM GLW DTE EXP ECL XPRO FELE GATX WGS GPK HRI HUBB INCY JBLU JCI KNSA LAD MRK NEOG NEO NSC PYPL PHG PJT PII PG RGEN RCL SOFI SPOT SWK SYY TRS UNH UPS
      • After-Hours:  AKR ACGL APAM ASH ATRC CAR AXS BKNG BXP CZR CWH CAKE CHE EA ESS EXLS EXE FCF FIBK FCPT FRSH FYBR FTAI HIW HLI KAI LSTR LC MARA MDLZ NBR NXT NMIH NWBI OI PEB PEN PPG QRVO RRR REG RSG STX ST STAG SBUX TDOC TER TX TTAM UMBF UNM VRNS V WPC WERN WSBC ZWS
    • Wednesday (July 30)
      • Pre-Market: AER AEM MO AEP ARCB ASC ADP AXTA BLCO BLKB BG CHKP CHEF CLVT CLH CRTO ENTG ETR ETSY EVR FSS FVRR FTV FDP GRMN GTES GEHC GNRC GSK HOG HAYW HSY HESM HUM IEX ITW INMD IONS KHC DRS LFUS LXP MTRN MNRO NAVI EDU NMRK OGE ODFL OSW OPCH PAG PUMP RDWR REYN STNG SMG SLGN SITE SNBR SW SCL SHOO SF STRA SXC TEVA COCO THRY TKR TW TT UTHR UMC VFC VRSK VRT VIRT WSO WEC WING
      • After-Hours:   AIN ALB ALGN ALHC ALKT AMSC AWK AM AR APLD ALL ARM AVB AX BHE BKH CHRW WHD CP CSL CVNA CBZ CGNX CTSH CRK CFLT CNMD CTOS CVI DXCM EBAY ESI EIG EPR EQIX ETD EG EVTC EXR FFIV FICO FE FLS FMC F FORM GKOS GRBK GH THG HOLX HST PI IRT INVH LRCX MGY MMSI META MTG MGM MSFT MAA MCW MOD MKL MUSA MYRG NFG NTGR NBIX NWE PPC PBI PRU PTC PSA QTWO QCOM RDN HOOD RSI SCI SIMO TSLX SFM SPSC RGR SUI TENB TS TTEK TMDX TROX TTMI TYL UDMY UDR VTR VICI VSEC WAY WDC
    • Thursday (July 31)
      • Pre-Market:  ABBV AGCO APD AGI ALGM ALNY AME FOLD BUD APLS APG APTV MT ARW ATI ATHM BCPC BAX BDC BIGC BIIB BWA BMY BIP BLDR CWT CCJ GOOS CRS GTLS CMS CIGI CFR CVS DFIN DTM EME EEFT EXC GEL GFL DINO HGV HWM HII IDA NSIT IP IART ICE IDCC ITRI ITT JHG KBR K KIM KGC KEX KKR LAUR LSPD LECO LNC MAS MA MPW MEOH MGPI NCLH OIS OMCL PATK PBF BTU PCG PPL PRLB PWR RBLX SPGI SNY SNDR SHAK SIRI SO STGW TRP TFX TEX CI THS TRN UPBD UTZ VAL VCEL VNT VMC WCC WTW XEL XRX XPO XYL
      • After-Hours:   ADC ATEC AMZN AEE AES AMH APPF AAPL ATR AJG BZH BIO BJRI BE BOOT BFAM CPT CWST CCCS CLX NET COHU COIN COLM CORT CUZ CACC CUBE DLB DXC EMN EIX LOCO ENVX NVST WTRG ES EXPI EXPO FHI FSLR FIVN FND FBIN GDYN HR HTGC HUBG HUN HURN ICFI ILMN IR INOD IRTC KLAC LEG TREE LPLA LUMN MTZ MATX MTD MELI MSTR MPWR NOG OHI OPK PK PRDO PCOR PRO KWR RGA RMD RKT ROKU RYAN SVV SEM SKWD SM SPXC SYK SNCY OLED WSC WK WKC
    • Friday (Aug 1)
      • Pre-Market: ARES AVTR AVNT BTSG CBOE CNH CVX CHD CL D XOM FLR FTS BEN FLGT GWW IMO INGR NSP TILE KMB LIN LYB MGA MRNA NWL NVT OSK PWP PIPR RBC REGN TROW TU WT XHR
      • After-Hours:MIR
      General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike
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