After Hours Report

The stock market opened with strength in its larger components following yesterday's retreat, with a lack of macro developments allowing the early momentum to persist, culminating in healthy gains across the major averages. 

Shortly after the open, shares of Apple (AAPL 213.28, +10.36, +5.10%) traded higher following headlines that the company will announce a $100 billion investment increase in domestic manufacturing at the White House this afternoon, bringing the company's total investment to $600 billion.

While the White House announced that India (which is the largest manufacturer of Apple's iPhone) will face an additional 25% tariff (50% total tariff rate) due to its ongoing purchase of Russian oil, White House officials said that Apple will not be materially affected by the tariff, according to CNBC. 

Trade developments were notably slim for the remainder of the session. Bloomberg reported that Swiss President Karin Keller-Sutter will leave Washington today without reaching a deal to lower the looming 39% tariff rate. Separately, President Trump stated via Truth Social that his Middle East envoy, Steve Witkoff, had a "highly productive" meeting with Russian President Vladimir Putin, though no further details have been reported, and neither one of these headlines moved the market.

Mega-cap momentum, however, would continue to push the major averages higher throughout the session.

The consumer discretionary sector (+2.4%) finished as the top-performing S&P 500 sector due to noteworthy gains in its mega-cap constituents, Amazon (AMZN 222.30, +8.56, +4.00%) and Tesla (TSLA 319.91, +11.19, +3.62%).

A strong performance from Walmart (WMT 103.36, +4.06, +4.08%) buoyed the advance in the consumer staples sector (+1.7%), and Apple's gains helped the information technology sector (+1.3%) round out the top three gainers today.

In total, six S&P 500 sectors finished in positive territory today. The market-weighted S&P 500 (+0.7%) outperformed the S&P 500 Equal Weighted Index (-0.2%), showing that while there was indeed a healthy dose of buying interest, larger stocks contributed more to today's advance.

The Vanguard Mega Cap Growth ETF finished the day with a 1.5% gain.

Today's batch of earnings reports garnered mixed reactions, with several blue-chip stocks in the fold.

McDonald's (MCD 307.58, +8.81, +2.95%) reported its best earnings since 4Q23, adding to strength in the consumer discretionary sector (+2.5%).

Meanwhile, Walt Disney (DIS 115.17, -3.15, -2.66%) traded lower despite topping earnings expectations, limiting gains within the communication services sector (+0.7%). 

Amgen (AMGN 284.67, -15.41, -5.14%), which also topped earnings expectations, weighed on the health care sector (-1.5%) as investors have taken stock of some weak sales in some of its key drugs.

Additionally, Advanced Micro Devices (AMD 163.12, -11.19, -6.42%) and Cirrus Logic (CRUS 97.25, -7.72, -7.35%) moved lower following earnings, contributing to weakness among stocks that saw the PHLX Semiconductor Index close with a loss of 0.2%. 

The energy sector (-0.9%) faced pressure today as crude oil recorded its lowest close since early June, with prices falling 1.2% to $64.34 per barrel. 

The utilities (-0.9%), real estate (-0.8%), and materials (-0.8%) sectors also finished the day in negative territory, though the losses did little to sway a steady climb in the major averages that saw the S&P 500 (+0.7%), Nasdaq Composite (+1.2%), and DJIA (+0.2%) finish near their session highs.

While today's advance was not as broad-based as Monday's rally, it marked a similar "buy the dip" disposition, though a lack of macro developments leaves room to question if the trend will continue to record-high levels from last week.

U.S. Treasuries had a mixed showing on Wednesday, as longer tenors retreated after outperforming on Tuesday while the short end climbed after lagging yesterday. Treasuries faced some intraday pressure that persisted through the completion of a weak $42 billion 10-year note offering, but the last 90 minutes of trade saw a push to fresh highs in the 5-year note and shorter tenors, while longer tenors finished near their starting levels.

The 2-year note yield settled down two basis points to 3.70% and the 10-year note yield settled up two basis points to 4.22%

• Russell 2000: +2.5% WTD
• Nasdaq Composite: +2.5% WTD
• S&P 500: +1.7% WTD
• DJIA: +1.4% WTD
• S&P Mid Cap 400: +0.9% WTD

Reviewing today's data:

• The weekly MBA Mortgage Index was up 3.1% after falling 3.8% a week ago. The Refinance Index rose 5.2% while the Purchase Index was up 1.5%.

Overseas:

• Europe: DAX +0.3%, FTSE +0.2%, CAC +0.2%
• Asia: Nikkei +0.6%, Hang Seng flat, Shanghai +0.5%

Commodities:

• Crude Oil -0.77 @ 64.34
• Nat Gas +0.07 @ 3.08
• Gold -1.60 @ 3433.80
• Silver +0.05 @ 37.90
• Copper +0.03 @ 4.42

After-Hours Spotlight:

• President Trump in Oval Office presentation says the U.S. will put a 100% tariff on all chips and semiconductors imported to the U.S.; Companies that are in the process of building here, or that have made a commitment to building in the U.S., will have no charge
• San Francisco Fed President Mary Daly says Fed will likely have to adjust policy in coming months; says inflation still above target; says Fed needs to "finish the job" on inflation - CNBC
• Airbnb (ABNB) beats by $0.09, beats on revs; guides Q3 (Sep) revs in-line.. ABNB -5.6%
• Apple (AAPL) and Corning (GLW) partner to manufacture 100% of iPhone and Apple Watch cover glass in Kentucky... AAPL -0.5% and GLW +3.8%
• AppLovin (APP) beats by $0.43, beats on revs; guides Q3 revs above consensus... APP -4.3%
• Costco (COST) reports June comparable sales of +7.0% (excluding gas and FX); e-Commerce adjusted comps of +14.9%... COST +0.1%
• DoorDash (DASH) beats by $0.21, beats on revs... DASH +6.9%
• DraftKings (DKNG) beats by $0.15, beats on revs; reaffirms FY25 revs guidance... DKNG +2.6%
• Duolingo (DUOL) beats by $0.32, beats on revs; guides Q3 revs above consensus; guides FY25 revs above consensus; also acquires music gaming startup NextBeat’s team... DUOL +14.0%
• Dutch Bros (BROS) beats by $0.08, beats on revs; raises FY25 guidance... BROS +16.3%
• e.l.f. Beauty (ELF) beats by $0.05, reports revs in-line... ELF -11.3%
• Fortinet (FTNT) beats by $0.05, reports revs in-line; guides Q3 EPS above consensus, revs in-line; guides FY25 EPS, revs in-line... FTNT -17.6%
• HubSpot (HUBS) beats by $0.07, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus... HUBS +3.9%
• Jack In The Box (JACK) misses by $0.15, misses on revs; guides FY25 EPS below consensus... JACK -9.5%
• Joby Aviation (JOBY) misses by $0.22, misses on revs... JOBY -0.5%
• Lyft (LYFT) reports Q2 (Jun) results, misses on revs, Gross Bookings up 12% yr/yr; Issues Q3 guidance, sees Gross Bookings up 13-17%... LYFT -4.9%
• McKesson (MCK) beats by $0.12, beats on revs; guides FY26 EPS in-line... MCK -2.0%
• Paycom Software (PAYC) beats by $0.28, beats on revs; raises FY25 revs above consensus... PAYC +8.5%
• Sarepta Therapeutics (SRPT) beats by $1.19, beats on revs... SRPT +5.2%
• Zillow (ZG) misses by $0.02, beats on revs; guides Q3 revs in-line, raises FY25 revenue outlook... ZG +0.9%

Fair Value for Thursday, August 7:

• S&P 500: 6,370
• Nasdaq 100: 23,425
• DJIA: 44,303

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

• Earnings/Guidance (Full Earnings Calendar):
  • ACM Research (ACMR) beats by $0.05, misses on revs; reaffirms FY25 revs guidance
  • Advanced Energy (AESI) beats by $0.19, beats on revs; guides Q3 EPS in-line, revs in-line
  • Advanced Micro Devices (AMD) reports EPS in-line, beats on revs, Data Center revenue up 14% yr/yr; guides Q3 revs above consensus
  • Aflac (AFL) beats by $0.08, misses on revs
  • Amentum Holdings (AMTM) beats by $0.03, beats on revs; raises FY25 EPS and revenue guidance, still in-line
  • Amgen (AMGN) beats by $0.74, beats on revs; raises FY25 guidance
  • Arista Networks (ANET) beats by $0.08, beats on revs; guides Q3 revs above consensus
  • Assurant (AIZ) beats by $1.06, beats on revs
  • Astera Labs (ALAB) beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs above consensus
  • Bayer (BAYRY) reports Q2 results; raises sales and earnings outlook
  • BeOne Medicines (ONC) beats by $0.52, beats on revs; guides FY25 revs in-line
  • BlackLine (BL) reports EPS in-line, revs in-line; guides Q3 EPS below consensus, revs in-line; raises FY25 guidance; Therese Tucker, Co-CEO and Founder of BlackLine, will transition from her role as Co-CEO, effective October 1, 2025
  • Bloomin' Brands (BLMN) beats by $0.03, beats on revs; guides Q3 EPS below consensus; guides FY25 EPS below consensus
  • Brinks (BCO) beats by $0.34, beats on revs; guides Q3 EPS in-line
  • California Resources (CRC) beats by $0.21, beats on revs
  • Capri Holdings (CPRI) beats by $0.38, beats on revs; guides Q2 EPS below consensus, revs above consensus; guides FY26 EPS in-line, revs above consensus
  • Carlyle Group (CG) misses by $0.02, beats on revs
  • Cboe Global Markets (CBOE) reports trading volume for July 2025
  • CDW (CDW) beats by $0.11, beats on revs
  • Cencora (COR) beats by $0.15, reports revs in-line; guides FY25 EPS above consensus
  • Centrus Energy (LEU) beats by $0.76, beats on revs
  • Choice Hotels (CHH) beats by $0.02, reports revs in-line; guides FY25 EPS in-line
  • Cirrus Logic (CRUS) beats by $0.41, beats on revs; guides SepQ revs above consensus
  • DaVita (DVA)beats by $0.18, reports revs in-line; reaffirms FY25 EPS guidance
  • Dayforce (DAY) beats by $0.09, beats on revs; guides Q3 revs in-line; raises FY25 revenue guidance
  • Dine Brands (DIN) misses by $0.28, beats on revs, provides FY25 guidance, lowers adjusted EBITDA outlook
  • DoubleVerify (DV) reports Q2 (Jun) results, beats on revs and EBITDA; guides Q3 revs above consensus; guides FY25 revs above consensus
  • Dynatrace (DT) beats by $0.04, beats on revs; guides Q2 EPS in-line, revs above consensus; raises FY25 ARR, revenue, and EPS guidance
  • Franklin Resources (BEN) reports preliminary month-end assets under management of $1.62 trillion at July 31, compared to $1.61 trillion at June 30
  • Glencore Intl plc (GLNCY) reports H1 EPS of ($0.05) versus ($0.02) last year; revs $117.4 bln versus $117.1 bln last year
  • Hinge Health (HNGE) reports Q2 (Jun) results, beats on revs; guides Q3 revs above consensus; guides FY25 revs above consensus
  • Honda Motor (HMC) reports Q1 results; beats on revs
  • Interparfums (IPAR) misses by $0.09, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
  • Intl Flavors (IFF) beats by $0.03, beats on revs; reaffirms FY25 revs guidance
  • Iron Mountain (IRM) beats by $0.05, beats on revs; guides FY25 FFO above consensus, revs in-line
  • Jazz Pharma (JAZZ) misses by $0.64, reports revs in-line; raises FY25 EPS in-line
  • JELD-WEN (JELD) misses by $0.18, beats on revs; reaffirms FY25 revs guidance
  • Klaviyo (KVYO) beats by $0.03, beats on revs; guides Q3 revs above consensus; guides FY25 revs above consensus
  • Lantheus Holdings (LNTH) misses by $0.11, misses on revs; guides FY25 EPS below consensus, revs below consensus; announces buyback
  • LifeMD (LFMD) misses by $0.05, misses on revs; guides Q3 revs below consensus; guides FY25 revs below consensus
  • LivaNova (LIVN) beats by $0.18, beats on revs; guides FY25 EPS above consensus
  • Louisiana-Pacific (LPX) misses by $0.04, beats on revs
  • Masimo (MASI) beats by $0.11, reports revs in-line; guides FY25 revs in-line
  • Match Group (MTCH) reports EPS in-line, beats on revs; guides Q3 revs above consensus
  • McDonald's (MCD) beats by $0.05, beats on revs, Global comps +3.8%, US comps +2.5%
  • Middleby (MIDD) beats by $0.12, reports revs in-line; guides Q3 EPS below consensus, revs in-line; guides FY25 EPS below consensus, revs below consensus
  • MNTN, Inc. (MNTN) reports Q2 (Jun) results, beats on revs; guides Q3 revs above consensus
  • Mosaic (MOS) misses by $0.22, misses on revs
  • News Corp. (NWSA) reports EPS in-line, revs in-line
  • New York Times (NYT) beats by $0.07, beats on revs; provides FY25 guidance
  • NiSource (NI) beats by $0.02; guides FY25 EPS in-line
  • Novo Nordisk (NVO) reports H1 results; lowers outlook
  • NRG Energy (NRG) misses by $0.01, beats on revs; reaffirms FY25 EPS guidance
  • Owens Corning (OC) beats by $0.39, beats on revs; guides Q3 revs above consensus
  • Par Pacific (PARR) beats by $0.64, beats on revs
  • Parsons (PSN) beats by $0.04, reports revs in-line; raises FY25 guidance
  • Paylocity (PCTY) beats by $0.17, beats on revs; guides Q1 revs above consensus; guides FY26 revs in-line; increases buyback
  • Planet Fitness (PLNT) beats by $0.07, beats on revs; guides FY25 EPS below consensus, revs in-line
  • Powell Inds (POWL) beats by $0.19, misses on revs
  • Qualys (QLYS) beats by $0.20, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY25 EPS in-line, revs above consensus
  • Regal Rexnord (RRX) beats by $0.04, reports revs in-line; guides FY25 EPS in-line
  • Revolve Group (RVLV) beats by $0.01, beats on revs; Raises FY25 gross margin guidance
  • RingCentral (RNG) beats by $0.04, reports revs in-line; guides Q3 EPS, revs in-line; guides FY25 EPS in-line, reaffirms FY25 revs guidance
  • Rivian Automotive (RIVN) misses on EPS, beats on revs; preparations for the launch of R2 currently remain on track
  • Rockwell Automation (ROK) beats by $0.15, beats on revs; guides FY25 EPS in-line, revs in-line
  • Shopify (SHOP) beats by $0.40, beats on revs
  • Six Flags Entertainment (FUN) reports Q2 (Jun) results, misses on revs
  • Skyline Champion (SKY) beats by $0.37, beats on revs
  • Skyworks (SWKS) beats by $0.09, beats on revs; guides Q4 EPS above consensus, revs above consensus; raises dividend 1%
  • Snap (SNAP) misses by $0.01, reports revs in-line; provides outlook
  • Stride (LRN) beats by $0.51, beats on revs
  • Super Micro Computer (SMCI) misses by $0.04, misses on revs; guides Q1 EPS below consensus, revs below consensus
  • Teradata (TDC) beats by $0.07, beats on revs; guides Q3 EPS below consensus; raises FY25 EPS above consensus
  • Thomson Reuters (TRI) beats by $0.04, reports revs in-line; reaffirms FY25 revs guidance
  • Trimble (TRMB) beats by $0.08, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY25 EPS above consensus, revs above consensus
  • Turning Point Brands (TPB) beats by $0.25, beats on revs; raises guidance
  • Uber (UBER) reports EPS in-line, beats on revs; provides Q3 guidance; New share repurchase program authorized up to an additional $20 billion of common stock
  • United Micro (UMC) reports July revs declined 4.4% yr/yr to ~NT$20.04 bln
  • Upstart (UPST) beats by $0.11, beats on revs; guides Q3 revs above consensus; guides FY25 revs above consensus
  • Viasat (VSAT) beats by $0.82, beats on revs, reaffirms FY26 revenue growth outlook
  • Voya Financial (VOYA) misses by $0.39, beats on revs
  • Walt Disney (DIS) beats by $0.16, reports revs in-line; guides FY25 EPS above consensus
  • Wix.com (WIX) beats by $0.53, reports revs in-line; guides Q3 revs in-line; raises FY25 revs in-line
• General News
  • President Trump says he will make a decision on Fed Governor later this week; he narrowed the list to two candidates; says Fed Chair nomination is down to four people; says Kevin Warsh, Kevin Hassett, and two other people are finalists for Fed Chair
  • President Trump says he will make determination on secondary tariffs/sanctions on countries that purchase Russian oil after meeting with both parities tomorrow
  • Middle East envoy Steve Witkoff arrives in Moscow for Ukraine peace talks ahead of possible Russian secondary sanctions, according to NY Times
  • China is against U.S. plan to track higher end chips, according to Bloomberg
  • HHS winds down mRNA vaccine development under BARDA
  • Allison Transmission (ALSN) is supporting Brazil's modernization of student transportation through the delivery of microbuses from Brazilian OEM Volare, a Marcopolo South America business division
  • Brazil President Luiz Inacio Lula da Silva says he doesn't want to have direct talks with President Trump on tariffs; says he will not announce reciprocal tariffs, according to Reuters
  • White House imposes 25% tariff on imports from India (total tariff now 50%) due to India's purchases of Russian oil amid war in Ukraine; increase to 50% effective August 27 (Note: These tariffs are part of the Russian secondary sanctions that President Trump promised last week)
  • President Trump advisors want him to nominate a temporary Fed governor to fill open seat, according to Bloomberg
  • Switzerland President Karin Keller-Sutter will leave Washington, DC without reaching deal to lower tariffs, according to Bloomberg
  • President Trump plans to meet with Russian President Putin next week; after that he will meet with Putin and Ukraine President Zelensky together, according to NY Times
  • 8x8 (EGHT) boosts customer engagement with new AI enhancements across CX Platform
  • Alphabet (GOOG): EU Commission clears creation of joint venture by Foxconn (HNHPF) and Alphabet
  • Amazon (AMZN) discloses updated portfolio positions in 13F filing: New IONQ position
  • Amazon (AMZN): National Highway Traffic Safety Administration announces that the agency issued an exemption for Zoox driverless vehicles under its newly expanded automated vehicle exemption program
  • Apple (AAPL) will announce later today with President Trump that it will spend $100 bln on domestic manufacturing, according to Bloomberg
  • Apple (AAPL) will remain largely unaffected by increase in India tariffs; semiconductors will remain exempt from tariffs - CNBC, citing White House official
  • Avidity Biosciences (RNA): Novartis (NVS) interested in acquisition of RNA, according to FT
  • BAE Systems (BAESY) is investing in the Armored Multi-Purpose Vehicle to further expand capability options for Soldiers
  • Blackstone (BX) announces agreement to acquire Enverus
  • Boeing (BA): Cathay Pacific orders 14 more Boeing 777-9 Passenger Jets
  • Boot Barn Holdings (BOOT) has extended its exclusive, multi-year partnership with Affirm (AFRM)
  • Boston Scientific (BSX): FDA issues Early Alert for Watchman access system issue from Boston Scientific
  • CareDx (CDNA) announces Landmark KOAR study published in the American Journal of Transplantation
  • Cipher Mining (CIFR) announces July 2025 operational update; mines ~214 bitcoin
  • Columbia Banking (COLB) and Pacific Premier Bancorp (PPBI) announce the receipt of all required regulatory approvals for the previously announced all-stock transaction pursuant to which Columbia will acquire Pacific Premier
  • CompX Intl (CIX) announces a special dividend of $1.00/share payable on August 27, to stockholders of record at the close of business on August 18
  • Devon Energy (DVN) announces two marketing agreements: an LNG export contract and a Permian gas sale
  • Edwards Lifesciences (EW) announces that the U.S. Federal Trade Commission moved to block the company’s proposed acquisition of JenaValve Technology
  • Empery Digital (EMPD) acquires an additional 87.62 BTC for a total purchase price of $10 million, now holds 4,000.85 BTC
  • Galapagos NV (GLPG) announces FDA RMAT designation granted to GLPG5101
  • GE Aerospace (GE): Cathay Pacific signs agreement for more GE Aerospace Engines to Power 777-9s
  • GitLab (GTLB) has signed a three-year, strategic collaboration agreement with Amazon Web Services
  • Glencore Intl plc (GLNCY) reports H1 EPS of ($0.05) versus ($0.02) last year; revs $117.4 bln versus $117.1 bln last year
  • ICF International (ICFI) launches ICF Fathom, a new suite of tailored artificial intelligence solutions and services designed specifically for federal agencies
  • Incyte (INCY) that Christiana Stamoulis will step down from her role as CFO to pursue another opportunity, effective September 16; co initiates search for successor and reaffirms full year financial guidance
  • Infosys (INFY) disclosed McCamish cyber incident update
  • Intl Flavors (IFF) authorizes new $500 mln share repurchase program and announces divestiture of soy crush, concentrates & lecithin business
  • Jazz Pharma (JAZZ) announces U.S. FDA approval of Modeyso (dordaviprone) as the first and only treatment for recurrent H3 K27M-mutant Diffuse Midline Glioma
  • Kemper (KMPR) announces $500 million share repurchase authorization
  • Kyndryl (KD) announces a strategic collaboration with Nova Intelligence to accelerate AI-driven SAP digital transformation projects for customers
  • L3Harris (LHX): The State Department has made a determination approving a possible Foreign Military Sale to the Government of Australia of MC-55A Baseline 2 Upgrade and related equipment for an estimated cost of $404 million
  • Match Group's (MTCH) Tinder Group considering redesign and other new features, according to Tech Crunch
  • Omnicom (OMC): OpenAI hires OMC's PHD Media to head its global media buying and planning, according to Ad Age
  • OpenAI could be valued at $500 billion following share sale, according to Bloomberg
  • OrthoPediatrics (KIDS) announces the expansion of its OrthoPediatrics Specialty Bracing division with multiple new clinics and entry into two new territories
  • Petrobras (PBR) potential partnership with BP for Bumerangue block mentioned by Reuters sources
  • Pinnacle West (PNW): Arizona Public Service, City of Mesa, Salt River Project, Tucson Electric Power and UniSource Energy Services announce commitment plans for Transwestern Pipeline’s Desert Southwest expansion project
  • Prothena (PRTA) announces that Novo Nordisk (NVO) will advance coramitug (Formerly PRX004) into Phase 3 development for ATTR amyloidosis with cardiomyopathy
  • RingCentral (RNG) announces a renewed collaboration with NiCE (NICE), through a multi-year extension of their long-term agreement to market and sell RingCentral Contact Center, a proven, global solution for enterprise-grade customer engagement, powered by NiCE CXone Mpower
  • RingCentral (RNG) announces that Vaibhav Agarwal has been appointed Chief Financial Officer, effective immediately
  • SentinelOne (S) and Mimecast (MIME) announce the next phase of its technology partnership and integration, which offers joint customers out-of-the-box AI detections for deeper visibility into human risk and more effective ways to manage it
  • Serve Robotics (SERV) and Little Caesars announce a partnership to deliver the brand's iconic HOT-N-READY pizza with Serve's autonomous delivery robots via Uber Eats (UBER)
  • Sirius XM (SIRI) will cancel "The Howard Stern Show" after 20 years, according to The Sun
  • Six Flags Entertainment (FUN) announces that Richard Zimmerman, president and chief executive officer and member of the Six Flags Board of Directors, will step down as the Company’s president and CEO by the end of 2025
  • Sportsman's Warehouse (SPWH) appoints Jennifer Fall Jung as as the CFO, effective August 18
  • T-Mobile US (TMUS) expands home and small business internet plans
  • Teva Pharma (TEVA) announces that the U.S. FDA has approved AJOVY for the preventive treatment of episodic migraine in children and adolescent patients aged 6-17 years who weigh 45 kilograms (99 pounds) or more
  • TotalEnergies SE (TTE) confirms divested its interest in two Vaca Muerta unconventional blocks
  • Vuzix (VUZI) receives and ships against a six-figure dollar follow-on order for Vuzix M400 smart glasses from LogistiVIEW, a warehouse execution system software provider that serves customers across multiple industries
  • Walt Disney (DIS): ESPN and WWE announce a landmark rights agreement as ESPN platforms, including the new ESPN direct-to-consumer streaming service, will become the exclusive U.S. domestic home of all WWE Premium Live Events, including the two-night cultural phenomenon WrestleMania, starting in 2026
  • Walt Disney (DIS): ESPN and the NFL have reached new licensing agreements, extending ESPN’s NFL Draft rights and, separately, adding NFL programming and content to ESPN’s upcoming Direct-to-Consumer service, as well as to Disney+
  • YPF Soc. Anonima (YPF) will acquire 100% of the shares and capital stock of Vaca Muerta Inversiones S.A.U.

• Upgrades:
  • A10 Networks (ATEN) upgraded to Buy from Neutral at BTIG Research, tgt $22
  • Afya (AFYA) upgraded to Overweight from Underweight at Morgan Stanley, tgt $17.50
  • Archer Daniels Midland (ADM) upgraded to Equal Weight from Underweight at Barclays, tgt $61
  • Aramark (ARMK) upgraded to Outperform from Neutral at Robert W. Baird, tgt $47
  • Azenta (AZTA) upgraded to Outperform from Market Perform at Raymond James, tgt $35
  • BellRing Brands (BRBR) upgraded to Overweight from Equal Weight at Stephens, tgt $50
  • Camden National (CAC) upgraded to Overweight from Equal Weight at Stephens, tgt $44
  • CarMax (KMX) upgraded to Neutral from Underweight at JPMorgan, tgt $58
  • Comerica (CMA) upgraded to Hold from Underperform at Jefferies, tgt $70
  • Cryoport (CYRX) upgraded to Overweight from Sector Weight at KeyBanc
  • Digital Turbine (APPS) upgraded to Neutral from Underperform at BofA Securities, tgt $5.50
  • Driven Brands (DRVN) upgraded to Overweight from Neutral at JPMorgan, tgt $23
  • Edgewell Personal Care (EPC) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $23
  • Gartner (IT) upgraded to Neutral from Buy at UBS, tgt $270
  • Grocery Outlet (GO) upgraded to Equal Weight from Underweight at Morgan Stanley, tgt $16
  • Halozyme Therapeutics (HALO) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $75
  • Hologic (HOLX) upgraded to Outperform from Sector Perform at RBC Capital, tgt $87
  • Incyte (INCY) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $89
  • JBT Marel (JBTM) upgraded to Outperform from Market Perform at William Blair
  • Monday.com (MNDY) upgraded to Outperform from Neutral at Robert W. Baird, tgt $310
  • RingCentral (RNG) upgraded to Outperform from Perform at Oppenheimer, tgt $35
  • TopBuild (BLD) upgraded to Buy from Neutral at Seaport Research Partners, tgt $450
  • Vertex Pharmaceuticals (VRTX) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $460
• Downgrades:
  • Agilon Health (AGL) downgraded to Neutral from Buy at Citigroup, tgt $1
  • Atkore (ATKR) downgraded to Sector Weight from Overweight at KeyBanc
  • CACI International (CACI) downgraded to Hold from Buy at Jefferies, tgt $535
  • Coupang (CPNG) downgraded to Hold from Buy at Deutsche Bank, tgt $27
  • Gartner (IT) downgraded to Neutral from Buy at UBS, tgt $270
  • Int'l Consolidated Airlines (ICAGY) downgraded to Sell from Neutral at UBS
  • Kemper (KMPR) downgraded to Underweight from Overweight at Piper Sandler, tgt $50
  • New Oriental Education (EDU) downgraded to Neutral from Buy at Goldman, tgt $50
  • SEMrush Holdings (SEMR) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $9
  • Snap (SNAP) downgraded to Market Perform from Outperform at Citizens JMP
  • Vivid Seats (SEAT) downgraded to Hold from Buy at Canaccord, tgt $23
• Others:
  • Ezcorp (EZPW) initiated with a Buy at Texas Capital, tgt $20
  • FirstCash (FCFS) initiated with a Buy at Texas Capital, tgt $160
  • Indivior (INDV) initiated with a Buy at H.C. Wainwright, tgt $27
  • Palvella Therapeutics (PVLA) initiated with an Outperform at Raymond James, tgt $54
  • Rapport Therapeutics (RAPP) initiated with a Buy at H.C. Wainwright, tgt $31
  • Riot Platforms (RIOT) initiated with a Neutral at Citigroup, tgt $13.75

• Econ Data (Thursday):
  • 08:30 ET: Preliminary Q2 Unit Labor Costs (Briefing.com consensus 1.5%; prior 6.6%), preliminary Q2 Productivity (Briefing.com consensus 2.2%; prior -1.5%), weekly Initial Claims (Briefing.com consensus 220,000; prior 218,000), and Continuing Claims (prior 1.946 mln)
  • 10:00 ET: June Wholesale Inventories (Briefing.com consensus 0.2%; prior -0.3%)
  • 10:30 ET: Weekly natural gas inventories (prior +48 bcf)
  • 15:00 ET: June Consumer Credit (Briefing.com consensus $8.6 bln; prior $5.1 bln)

• Earnings:
  • Monday (Aug 4)
    • Pre-Market: BCRX BNTX BRKR CNA ENR FRPT IDXX KRYS ON TGTX TSEM RIG TSN WAT W
    • After-Hours: ADUS ADTN ACM AL ALGT ALSN AMRC ANDE ARDX AESI AXON BGS BRBR BMRN BWXT CBT CRBG CTRA DENN FANG DORM PLOW EHC EQR EVER GBDC HLIO HIMS IAC ICHR NGVT INSP JBTM KD LSCC LTC VAC MELI MSA MWA NSA NVTS NMFC NJR ODD OLO OKE OTTR PLTR PLMR PAY PRIM RHP SBRA SBAC SPG SNDX SKT TDW TREX UFPT VVX VRTX VMEO VNOM VNO VOYG WMB GTM
    Tuesday (Aug 5)
    • Pre-Market:  AHCO ADM ALIT APO ARMK ATKR AVNS ACLS AZTA BALL BP BR CAMT CAT YOU CMI CWK DOCN DRVN DUK DD DEA ETN EPC ERJ NPO NVRI EVGO EXPD FIS FWRG FOXA FTDR ULCC IT GFS HLNE HRMY HSIC HLMN IPGP JJSF J KNF LCII LDOS LMND LGIH LTH MDGL MPC MAR TAP MPLX NNN NWN NOVT OCSL OCUL OGN MD PFE PTLO PEG RXRX RYTM SBH SEE FOUR SHLS SLAB SR SRAD STVN SGRY BLD TDG ULS UNIT WLK KLG XMTR YUMC YUM ZBRA ZTS
    • After-Hours:  EGHT ATEN ACHC ADPT AEIS AMD AFL AGL AFG AMGN ANGI ANET AROC AIZ ALAB BL BBIO BCC CDRE CRC LEU CC CRUS CWEN CPNG DVA DVN DV DEI ELME EQH EOLS FLYW GO GXO HALO HNGE IOSP INVX IPAR IFF JXN JAZZ JELD KMPR KVYO LMAT LMB LCID MASI MTCH MNTN MOS NWSA NE OGS OPEN OUT PCRX PARR PCTY POWL QGEN QLYS QDEL RRX REZI RVLV RNG RIVN SAFE WTTR SITC SKY SWKS SNAP LRN SU SMCI SUPN TDC BWIN TOST RARE UPST VSTS VSAT VOYA ZETA
      
  • Wednesday (Aug 6)
    • Pre-Market: ACMR ADNT ARVN AVA AVT B BSY ONC TECH TPB BLMN BCO CPRI CG CDW COR CTRI CRL CHH CNDT DAVE DAY DK DIN DNOW DT EMR ESAB EXTR FTRE GENI GEO GERN ROCK GPN GFF IIPR INSW IRM JLL KMT KRNT LNTH LINE LIVN LPX MAGN MNKD MKTX MCD MFA MIDD MRC EYE NYT NI NOMD NVAX NRG ODP OSCR OC PSN PAYO PRGO PNW PLNT ROK SRRK SHOP FUN SWX STRZ STRZ SUN SHO TBLA TRI TPG TRMB U VVV VERX VSH DIS WIX WWW XPEL
      
    • After-Hours:   ACAD ADMA ABNB APA AOSL DOX AIG AWR AMPL APP ATO BTG BBSI BYND BLBD BV BMBL CACI CSWC CDNA CENT CERT CF CHRD CIVI CWAN CDE CPA CXW CPAY CTVA CXT CRH CSGS CW DLX DHT DGII DASH DKNG DUOL BROS ELF ECPG ET ENS EVCM EXAS FSLY FRT FNF FTNT FSK GNK GDRX LOPE HL HLF HP HMN HHH HUBS INFA IONQ JACK JOBY KNTK KLIC LB LNW RAMP LYFT MGNI MFC MQ MCK MAX MET MIRM MKSI MUR NHI NATL NTR OXY KAR OEC ORA PAAS PAYC PR POWI PRI PRCT RYN RBA O RELY RVMD ROOT RGLD RXT SDGR SDRL SBGI SITM STR SONO SONY SPT STE RUN SYM TALO TNDM TNC TKO MODG TVTX TPC USPH UBER UGI UPWK VECO VCYT VRRM VIR VTLE HCC WTS WES ZD ZG
  • Thursday (Aug 7)
    • Pre-Market:  ACIW GOLF WMS ALE ATUS COLD APPN ASPN BCE BDX CNQ CARS LNG CCOI COLL COMM COP CEG ROAD CROX DDOG XRAY DBRG DCO ECVT ELAN LLY ENOV EPAM ESTA EOG EVRG FA GOGO GVA HAE HBI HTZ HIMX H IMCR INSM IBP JBI KELYA KVUE KRP KTB DNUT LFST LGND MTSI MLM MMS MDU TIGO NABL VYX NTCT NXST NVMI OLPX PGY PZZA PH PTON PENN PLTK PBH PRMB PRVA RL QSR RXO SABR SRE SN SEDG SGI SPB STWD TGLS TGNA PRKS USFD VTRS VITL WD WRBY WBD WMG YETI ZBH
    • After-Hours:   TXG ATGE AKAM ALRM LNT AHR AMN AAOI ACA ARLO ARRY ARWR AORT AGO ASTH TEAM AVPT BBDC XYZ BHF CARG CPK CHYM CLNE CLSK ED CON CRSR CRNX CYTK DH DRH DOCS DBX ESE EVH EXPE FIGS FLUT FOXF FNKO GEN G GILD GMED GDDY GRND ICUI INDI CART PODD IAS FROG KRMN KTOS LZ LYV MTW MCHP MSI MP NRDS LASR OMDA OS ONTO PBA PINS POST PGNY PTCT RPD RLJ RKLB RXST SOLV SOUN STEP SLF SG SYNA TTWO TXRH TTD TRIP TRUP TWLO VIAV VCTR WEST WPM WYNN XIFR XPOF YELP ZYME
  • Friday (Aug 8)
    • Pre-Market: AQN AMR AMCX AXL ATMU CLMT EMBC ESNT FUBO GTN KOP LAMR OTEX PAR PAA SHC SLVM TEM WULF UAA WEN
    • After-Hours:None
  General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike