After Hours Report

After a relatively quiet start, stocks drifted lower on Thursday as an intraday surge in oil prices outweighed an early rebound across technology stocks and another generally encouraging batch of corporate earnings. The S&P 500 slipped 0.2%, giving back an early gain but finding some support near the 7,700 level, while the Nasdaq Composite edged 0.1% lower and the DJIA lagged with a 0.9% decline. The Russell 2000 (-0.6%) and S&P MidCap 400 (-0.3%) also retreated from yesterday's record highs.

Technology initially provided a stabilizing influence after opening the session under pressure. Sandisk (SNDK 1258.58, -91.92, -6.81%) and Western Digital (WDC 451.52, -67.65, -13.03%) both suffered sharp opening losses following their earnings reports, but recovered considerably from their worst levels as the morning progressed. Sandisk delivered strong quarterly results, though its guidance disappointed investors, while Western Digital appeared to face some profit-taking after its recent rally as investors looked for a more robust report. The recovery in both memory names helped spark an early rebound across the broader semiconductor group. The PHLX Semiconductor Index climbed more than 1.0% before surrendering most of that advance to finish just 0.3% higher. Gains were relatively modest but consistent across much of the group, with Advanced Micro Devices (AMD 489.28, +7.23, +1.50%) reclaiming a portion of its post-earnings decline.

The information technology sector (+0.1%) finished as one of just three S&P 500 sectors in positive territory. Software remained a weak spot within the sector. AppLovin (APP 335.67, -82.13, -19.66%) plunged after reporting in-line earnings and weaker-than-expected revenue, while Datadog (DDOG 229.29, -53.88, -19.03%) sold off as investors focused on a slowdown in sequential growth. Those declines weighed on the iShares GS Software ETF (IGV 99.46, -1.86, -1.83%), though continued strength in Microsoft (MSFT 499.86, +12.40, +2.54%) helped offset some of the weakness.

The early rebound in technology took some momentum away from the broader market, which had initially benefited from strength across more defensive and cyclical areas. The tone shifted late in the morning, however, after reports that Houthi forces had attacked a Saudi-flagged tanker in the Red Sea sent oil prices sharply higher. Reuters later reported that a draft version of the proposed U.S.-Iran agreement, which is expected to be voted on by Iran's parliament, would prohibit U.S.- and Israel-linked vessels from transiting the Strait of Hormuz. WTI crude oil futures settled $2.09 higher (+2.8%) at $77.27 per barrel, leaving the energy sector (+1.6%) as the clear standout. The increase in oil prices also pushed Treasury yields higher, contributing to a less supportive backdrop for stocks throughout the remainder of the session.

The health care sector (+0.1%) eked out a modest gain shortly before the close, joining energy and information technology as the only sectors to finish higher.

Meanwhile, the communication services sector (-0.7%) ranked among the day's weakest performers. Alphabet (GOOG 356.62, -3.51, -0.97%) remained under pressure following reports yesterday that several high-profile AI leaders are leaving the company. Bloomberg also reported that the company is preparing to raise approximately $25 billion through a bond offering. The Trade Desk (TTD 17.67, -1.29, -6.80%) added to the sector's weakness ahead of its earnings report after the close.

The industrials sector (-0.8%) also lagged as Honeywell (HON 240.74, -7.38, -2.97%) and Axon (AXON 522.46, -87.03, -14.28%) suffered sharp post-earnings declines. The group faced additional pressure from oil-sensitive airline and trucking names as crude prices climbed.

Elsewhere, the materials sector (-0.9%) pulled back following its strong start to the week, while the utilities (-0.9%) and real estate (-1.0%) sectors continued to underperform.

Today's action marked another pause following the market's strong rally earlier this week, as investors continued to reward solid earnings while holding technology companies to a high bar. Attention now turns to Friday's July Employment Situation Report and next week's Consumer Price Index, with the latter taking on added significance after the Financial Times reported that Fed Chair Kevin Warsh remains open to raising rates at the upcoming FOMC meeting if inflation fails to cool.

U.S. Treasuries retreated on Thursday, pulling back from three days of steady gains. The 2-year note yield settled up seven basis points to 4.25% and the 10-year note yield settled up five basis points to 4.67%. 

• Russell 2000: +20.9% YTD
• S&P Mid Cap 400: +16.0% YTD
• Nasdaq Composite: +13.4% YTD
• S&P 500: +12.6% YTD
• DJIA: +12.1% YTD

Reviewing today's data:

• Q2 Productivity - Prel 1.4% (Briefing.com consensus 0.8%); Prior was revised to 0.8% from 0.3%, Q2 Unit Labor Costs - Prel 1.3% (Briefing.com consensus 1.7%); Prior was revised to 1.3% from 1.8%
  • The key takeaway from the report is that rising productivity helped keep labor costs in check.
• Weekly Initial Claims 199K (Briefing.com consensus 200K); Prior was revised to 198K from 197K, Weekly Continuing Claims 1.801 mln; Prior was revised to 1.777 mln from 1.782 mln
  • The key takeaway from the report, once again, is the extraordinarily low level of initial jobless claims, which reflects an environment in which employers are still reluctant to cut staff. That will be read as a good sign for economic demand.
• June Wholesale Inventories 0.2% (Briefing.com consensus 0.3%); Prior 0.3%

 Overseas:

• Europe: DAX +0.2%, FTSE -0.2%, CAC +0.4%
• Asia: Nikkei -0.9%, Hang Seng -1.5%, Shanghai +0.6%

Commodities:

• Crude Oil +2.09 @ 77.27
• Nat Gas -0.05 @ 2.64
• Gold -4.50 @ 4300.50
• Silver -0.71 @ 61.60
• Copper -0.02 @ 6.71

After-Hours Spotlight:

• Airbnb (ABNB) beats by $0.11, reports revs in-line; guides Q3 revs above consensus, expects FY26 revenue growth to improve to at least mid-teens...ABNB +10.5%
• Applied Optoelectronics (AAOI) beats by $0.04, beats on revs; provides Q3 (Sep) guidance...AAOI -1.9%
• Cloudflare (NET) beats by $0.02, beats on revs; provides Q3 (Sep) and FY26 guidance...NET +18.0%
• Doximity (DOCS) misses by $0.01, beats on revs; guides Q2 revs in-line; raises FY27 revs above consensus...DOCS +91%
• DraftKings (DKNG) beats by $0.07, misses on revs; reaffirms FY26 revs guidance...DKNG -3.6%
• FIGS, Inc. (FIGS) beats by $0.08, beats on revs; guides FY26 revs in-line; increases buyback...FIGS +25%
• Innodata (INOD) beats by $0.20, beats on revs; reaffirms FY26 revs guidance; also CEO to become Executive Chairman, names new CEO...INOD +14%
• Instacart (CART) reports Q2 (Jun) results, beats on revs and adjusted EBITDA...CART +9.6%
• Karman Space and Defense (KRMN) beats by $0.01, beats on revs; provides FY26 guidance...KRMN +6%
• Lyft (LYFT) misses by $0.01, beats on revs; Q2 gross bookings ahead of guidance; provides Q3 guidance...LYFT +0.4%
• Microchip (MCHP) beats by $0.06, beats on revs; guides SepQ EPS above consensus, revs above consensus...MCHP +8.5%
• Monster Beverage (MNST) beats by $0.02, beats on revs...MNST +0.3%
• Sezzle (SEZL) beats by $0.10, beats on revs; provides FY26 guidance; Board authorizes $100.0 mln buyback program...SEZL -27.2%
• Texas Roadhouse (TXRH) beats by $0.02, beats on revs; provides FY26 guidance...TXRH +0.9%
• The Trade Desk (TTD) beats by $0.16, misses on revs; guides Q3 revs below consensus...TTD -25.3%
• Twilio (TWLO) beats by $0.15, beats on revs; provides Q3 (Sep) and FY26 guidance...TWLO +16.2%

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

• Earnings/Guidance (Full Earnings Calendar):
  • A10 Networks (ATEN) beats by $0.01, beats on revs; provides FY26 guidance
  • Acushnet (GOLF) beats by $0.45, beats on revs
  • Allstate (ALL) beats by $2.93, beats on revs
  • American Superconductor (AMSC) misses by $0.03, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Appian (APPN) beats by $0.13, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY26 EPS above consensus, revs above consensus
  • AppLovin (APP) reports EPS in line, misses on revs; provides guidance
  • Axon (AXON) beats by $0.04, beats on revs; guides FY26 revs above consensus
  • Becton Dickinson (BDX) beats by $0.09, beats on revs; guides FY26 EPS above consensus
  • BillionToOne (BLLN) misses by $0.03, beats on revs; provides FY26 guidance
  • Block (XYZ) beats by $0.15, beats on revs; guides Q3 EPS above consensus; guides FY26 EPS above consensus
  • CACI Intl (CACI) beats by $1.65, beats on revs; provides FY27 guidance
  • Celsius (CELH) misses by $0.06, misses on revs; provides Q3 (Sep) guidance
  • CF Industries (CF) misses by $0.90, misses on revs
  • Chime (CHYM) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Cirrus Logic (CRUS) beats by $0.03, reports revs in-line; guides SepQ revs below consensus
  • Cognex (CGNX) beats by $0.03, reports revs in-line; guides Q3 EPS, revs above consensus; guides FY26 EPS, revs above consensus
  • Compass Minerals (CMP) beats by $0.06, misses on revs; provides FY26 guidance
  • ConocoPhillips (COP) beats by $0.34, beats on revs
  • Constellation Energy (CEG) beats by $0.26, misses on revs; raises FY26 EPS in-line
  • Corpay (CPAY) beats by $0.42, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY26 EPS above consensus, revs above consensus
  • Costco (COST) July sales rise 10.7%; comp sales up 8.9%
  • Curtiss-Wright (CW) beats by $0.11, misses on revs; provides FY26 guidance
  • Datadog (DDOG) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Dave, Inc. (DAVE) beats by $0.68, reports revs in-line; raises FY26 EPS above consensus, revs above consensus
  • Deluxe (DLX) beats by $0.06, beats on revs; reaffirms FY26 EPS guidance, raisesFY26 revs above consensus
  • Deutsche Telekom (DTEGY) reports Q2 results; raises FY26 free cash flow outlook
  • Diageo plc (DEO) reports FY26 results, revs in-line; outlines FY27 and medium-term growth targets at Capital Markets Day
  • Diodes (DIOD) beats by $0.07, beats on revs; provides Q3 (Sep) and FY26 guidance
  • DoorDash (DASH) reports Q2 results, beats on revs, adjusted EBITDA above prior guidance
  • Ducommun (DCO) beats by $0.20, beats on revs; provides Q3 (Sep) guidance
  • Duolingo (DUOL) beats by $0.06, reports revs in-line; guides Q3 revs below consensus; guides FY26 revs in-line
  • Dutch Bros (BROS) beats by $0.04, beats on revs; ups FY26 revs outlook
  • D-Wave Quantum (QBTS) misses by $0.05, misses on revs
  • eBay (EBAY) beats by $0.10, beats on revs; guides Q3 EPS below consensus, revs above consensus
  • e.l.f. Beauty (ELF) beats by $1.04, beats on revs; raises FY27 EPS above consensus, revs above consensus
  • Enovis Corporation (ENOV) beats by $0.05, beats on revs; provides FY26 guidance
  • EPAM Systems (EPAM) beats by $0.24, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY26 EPS above consensus
  • ESAB Corp. (ESAB) misses by $0.05, beats on revs; guides FY26 EPS below consensus, raises total core sales growth guidance
  • Etsy (ETSY) misses by $1.11, beats on revs, GMS grew 7.5% yr/yr; Issues guidance for Q3 and FY26, sees GMS growth in the mid-single-digit range for the full year
  • Excelerate Energy (EE) beats by $0.02, misses on revs; provides Q2 (Jun) and FY26 guidance
  • Exelixis (EXEL) beats by $0.06, misses on revs; guides FY26 revs below consensus
  • Expedia Group (EXPE) beats by $0.54, beats on revs; guides Q3 revs in-line; raises FY26 revs in-line
  • Fastly (FSLY) beats by $0.08, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY26 EPS above consensus, revs above consensus
  • Figma (FIG) beats by $0.04, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Fiserv (FISV) misses by $0.07, beats on revs; provides FY26 guidance
  • Frontdoor (FTDR) beats by $0.17, beats on revs; provides FY26 guidance
  • GoodRx (GDRX) reports EPS in line, beats on revs; provides FY26 guidance
  • Goodyear Tire (GT) beats by $0.02, beats on revs
  • Haemonetics (HAE) beats by $0.06, beats on revs; Raises FY27 revenue growth guidance
  • Honeywell Aerospace (HONA) misses by $0.25, misses on revs; guides FY26 EPS below consensus
  • Howmet Aerospace (HWM) beats by $0.09, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY26 EPS above consensus, revs above consensus
  • HubSpot (HUBS) beats by $0.24, beats on revs; provides Q3 (Sep) and FY26 guidance; Board authorizes $1.0 bln buyback program
  • IonQ (IONQ) beats by $0.23, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Kenvue (KVUE) misses by $0.01, reports revs in-line
  • Keurig Dr Pepper (KDP) beats by $0.03, beats on revs; reaffirms FY26 revs guidance
  • Klaviyo (KVYO) reports EPS in line, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Kulicke & Soffa (KLIC) beats by $0.14, beats on revs; provides Q4 (Dec) and FY26 guidance
  • Marriott Vacations (VAC) beats by $0.34, beats on revs; provides FY26 guidance
  • MAXIMUS (MMS) beats by $0.01, misses on revs; provides FY26 guidance
  • McKesson (MCK) beats by $0.37, beats on revs; guides FY27 EPS above consensus, revs in-line
  • Merck KGaA (MKKGY) reports Q2 results; raises FY26 guidance
  • Miami International Holdings (MIAX) beats by $0.07, beats on revs
  • MKS Inc. (MKSI) beats by $0.39, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Motorola Solutions (MSI) beats by $0.56, beats on revs; guides Q3 EPS in-line, revs below consensus; guides FY26 EPS above consensus, revs above consensus
  • Murphy USA (MUSA) beats by $1.32, beats on revs; provides FY26 guidance; raises dividend 28.0%
  • News Corp. (NWSA) beats by $0.11, beats on revs
  • Nintendo (NTDOY) reports Q1 results; maintains FY27 outlook
  • NuScale Power (SMR) reports EPS in line, misses on revs; provides Q3 (Sep) guidance
  • Nutrien (NTR) misses by $0.09, beats on revs
  • Occidental Petro (OXY) beats by $0.57, beats on revs; increases quarterly dividend 8% to $0.28/share
  • Papa John's (PZZA) beats by $0.01, reports revs in-line; global comparable sales -5.7%; suspends dividend
  • Pattern Group (PTRN) beats by $0.03, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Paycom Software (PAYC) beats by $0.40, beats on revs; guides FY26 revs above consensus
  • Peloton (PTON) beats by $0.01, beats on revs; guides Q1 revs below consensus; guides FY26 revs below consensus
  • Planet Fitness (PLNT) beats by $0.03, beats on revs; raises FY26 EPS above consensus, reaffirms FY26 revs guidance
  • Playtika (PLTK) misses by $0.04, beats on revs; provides FY26 guidance
  • Portillo's (PTLO) beats by $0.01, misses on revs; provides FY26 guidance
  • Power Integrations (POWI) beats by $0.05, beats on revs; provides Q2 (Jun) guidance
  • Prestige Consumer (PBH) beats by $0.10, beats on revs; provides Q1 (Mar) and FY27 guidance
  • Qiagen (QGEN) beats by $0.02, beats on revs; guides Q3 EPS below consensus, revs below consensus; reaffirms FY26 EPS guidance, revs guidance
  • Redwire (RDW) beats by $0.07, beats on revs; provides FY26 guidance
  • Restaurant Brands Int'l (QSR) beats by $0.03, misses on revs
  • Royal Gold (RGLD) beats by $0.23, misses on revs
  • Sandisk (SNDK) beats by $4.29, beats on revs; guides Q1 EPS in-line, revs below consensus
  • Shift4 Payments (FOUR) beats by $0.07, beats on revs; guides Q3 revs below consensus; guides Q4 (Dec) revs in-line; guides FY26 EPS below consensus, revs in-line
  • Siemens AG (SIEGY) reports Q3 results; raises FY26 outlook
  • Sinclair Broadcast (SBGI) misses by $0.82, beats on revs; provides Q2 (Jun) and FY26 guidance
  • Six Flags Entertainment (FUN) reports Q2; misses on revs
  • Solventum (SOLV) beats by $0.65, beats on revs; guides FY26 EPS above consensus
  • Steris (STE) beats by $0.10, reports revs in-line; reaffirms FY27 EPS guidance, revs guidance; announces restructuring
  • Symbotic (SYM) misses by $0.04, beats on revs; provides Q4 (Dec) and FY26 guidance
  • Teleflex (TFX) beats by $1.00, beats on revs; guides FY26 EPS above consensus, revs in-line
  • Tennant (TNC) misses by $0.50, misses on revs; provides FY26 guidance
  • TTM Tech (TTMI) beats by $0.10, beats on revs; provides Q3 (Sep) and FY26 guidance
  • Valaris (VAL) beats by $0.41, beats on revs
  • VSE Corp (VSEC) beats by $0.82, beats on revs; provides FY26 guidance
  • Warby Parker (WRBY) misses by $0.06, misses on revs; provides FY26 guidance
  • Warner Bros. Discovery (WBD) beats by $0.20, misses on revs
  • Warner Music Group (WMG) beats by $0.17, beats on revs
  • Western Digital (WDC) beats by $0.25, beats on revs; guides Q1 EPS above consensus, revs in-line
  • Zillow (ZG) beats by $0.07, beats on revs; guides Q3 revs below consensus; guides FY26 revs below consensus
  • Zoetis (ZTS) beats by $0.02, misses on revs; guides FY26 EPS below consensus, revs below consensus
• General News
  • Iran and the U.S. say a deal to reopen the Strait of Hormuz is close, but Iran has insisted on some control over the waterway. The U.S. is against any agreement that involves Iran charging fees. Any agreement is likely to be contingent on the U.S. lifting its blockade on Iran's ports. NBC News
  • President Trump has spoken repeatedly with Fed Chairman Kevin Warsh since he took the job. WSJ
  • Airlines are pushing back against immigration enforcement at airports. WSJ
  • Power demand from artificial intelligence is damaging data centers. Bloomberg
  • U.S. Immigration and Customs Enforcement has been accelerating the pace of arrests, averaging 1400 per day in July. Bloomberg
  • Aeva (AEVA) launches optical connectivity unit, signs first customer program tied to major hyperscaler
  • Amazon (AMZN) Pharmacy now delivers GLP-1 medications to eligible Medicare patients for $50 a month
  • Amtech Systems (ASYS) names Guy Shechter CEO; Bob Daigle to become executive chairman
  • Ares Management (ARES) scaled back private credit fund amid investor concerns about valuation. FT
  • Blue Bird (BLBD) signs definitive Ford deal to take over next-gen F-53/F-59 stripped chassis program
  • Cboe Global Markets (CBOE) reports trading volume for July 2026
  • Compass Minerals (CMP) names Brandon Risner COO as Patrick Merrin departs
  • Darling Ingredients (DAR) board authorizes $1 bln share repurchase program
  • Etsy (ETSY) authorizes new $2 bln buyback program following Depop sale proceeds
  • EverCommerce (EVCM) names Alex Goor CEO, founder Eric Remer steps down
  • GoodRx (GDRX) discloses that CFO Christopher McGinnis will depart
  • Graham (GHM) wins defense contracts worth more than $43 mln
  • Herbalife (HLF) CFO John DeSimone to retire at year-end; Scott Schaefer named successor
  • Hudson Tech (HDSN) awarded a maximum $210.4 mln Defense Logistics Agency contract for industrial gas and cylinders
  • ICF (ICFI) wins $35 mln Entergy Louisiana energy efficiency contract
  • IonQ (IONQ) space unit wins NRO radar commercial augmentation contract
  • IonQ (IONQ) gets $28 mln DARPA contract extension for atomic clocks
  • JP Morgan (JPM): Federal prosecutors investigated claims that JP Morgan (JPM) mishandled fraud cases. WSJ
  • Manulife Financial (MFC) announces $3.2 bln long-term car reinsurance transaction with Munich Re (MURGY)
  • Meta Platforms (META): A Meta Platforms AI model breached an outside company during testing, according to The Information
  • MetLife (MET) board approves new $3 bln share repurchase authorization
  • Microsoft's (MSFT) Halo Studios will conduct layoffs. Insider Gaming
  • Moderna (MRNA) receives FDA approval for mFLUSIVA flu vaccine
  • NN (NNBR) announces $124 mln preferred-stock refinancing and deleveraging transaction
  • OpenAI models were communicating with each other before the hack of Hugging Face. Bloomberg
  • PacBio (PACB) names COO Mark Van Oene CEO, effective Aug. 5
  • Palo Alto Networks (PANW): China launched a cybersecurity review into Palo Alto Networks. Bloomberg
  • Sandisk (SNDK) authorizes additional $14 bln share buyback, boosting total remaining repurchase capacity to $15.5 bln
  • Sight Sciences (SGHT) says Aetna adds commercial coverage for OMNI and SION glaucoma procedures
  • Silicon Motion (SIMO) unveils MonTitan SSD reference design kit for Agentic AI infrastructure
  • Solventum (SOLV) to pursue separation of Health Information Systems business
  • Takeda Pharma (TAK) confirms FDA approval of ORZEYFUL
  • UWM (UWMC) announces $2.05 bln capital partnership with Oaktree, suspends common dividend
  • Veeco (VECO) lands LUMINA+ MOCVD system order for InP laser manufacturing
  • York Space Systems (YSS) names Brian Frantz interim CFO as Kevin Messerle steps down
  • Zillow (Z) expands CFO Jeremy Hofmann's role to COO; names Cassandra Knight chief legal and policy officer

• Upgrades:
  • Charles River Laboratories (CRL) upgraded to Overweight from Neutral at JPMorgan, tgt $310
  • Global Payments (GPN) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $110
    
  • Hudson Pacific Properties (HPP) upgraded to Overweight from Neutral at Piper Sandler, tgt $18
    
  • J & J Snack Foods (JJSF) upgraded to Buy from Hold at Jefferies, tgt $101
    
  • L'Oréal (LRLCY) upgraded to Hold from Underperform at Jefferies
    
  • Northwest Natural Gas (NWN) upgraded to Equal Weight from Underweight at Wells Fargo, tgt $50
    
  • Sabra Health Care REIT (SBRA) upgraded to Market Perform from Underperform at Raymond James
    
  • TPG (TPG) upgraded to Buy from Hold at TD Cowen, tgt $64
• Downgrades:
  • AppLovin (APP) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $357
    
  • AppLovin (APP) downgraded to Neutral from Overweight at Piper Sandler, tgt $385
    
  • Barrett Business Services (BBSI) downgraded to Neutral from Buy at Roth Capital, tgt $38
    
  • Beiersdorf (BDRFY) downgraded to Underweight from Equal Weight at Barclays
    
  • Blackstone Mortgage Trust (BXMT) downgraded to Market Perform at Raymond James
    
  • Capri Holdings (CPRI) downgraded to Hold from Buy at TD Cowen, tgt $17
    
  • FEMSA (FMX) downgraded to Neutral from Buy at UBS, tgt $139
    
  • Freshpet (FRPT) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $72
    
  • HubSpot (HUBS) downgraded to Equal Weight from Overweight at Capital One, tgt $206
    
  • HubSpot (HUBS) downgraded to Neutral from Overweight at Piper Sandler, tgt $220
    
  • HubSpot (HUBS) downgraded to Perform from Outperform at Oppenheimer
    
  • Insulet (PODD) downgraded to Neutral from Buy at BTIG
    
  • Insulet (PODD) downgraded to Neutral from Overweight at JPMorgan, tgt $152
    
  • Insulet (PODD) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $144
    
  • Insulet (PODD) downgraded to Hold from Buy at Truist, tgt $153
    
  • Klaviyo (KVYO) downgraded to Hold from Buy at Benchmark
    
  • LegalZoom (LZ) downgraded to Neutral from Overweight at JPMorgan, tgt $7
    
  • LXP Industrial Trust (LXP) downgraded to Hold from Buy at Jefferies, tgt $61
    
  • Onterris (ONT) downgraded to Underperform from Neutral at BofA Securities, tgt $18
    
  • Rexford Industrial Realty (REXR) downgraded to Hold from Buy at Jefferies, tgt $40
    
  • Select Water Solutions (WTTR) downgraded to Outperform from Strong Buy at Raymond James, tgt $26
  • Smith & Nephew (SNN) downgraded to Neutral from Overweight at JPMorgan
  • Western Digital (WDC) downgraded to Hold from Buy at Summit Insights
  • Zillow Group (ZG) downgraded to In Line from Outperform at Evercore ISI, tgt $40
    
  • Zillow Group (ZG) downgraded to Market Perform from Outperform at Bernstein, tgt $38
• Others:
  • Atrium Therapeutics (RNA) initiated with a Buy at H.C. Wainwright, tgt $25
  • Immuneering (IMRX) initiated with a Buy at H.C. Wainwright, tgt $14
    
  • Lyell Immunopharma (LYEL) initiated with a Buy at Stifel, tgt $36
    
  • Obsidian Therapeutics (OBX) initiated with a Buy at TD Cowen

• Econ Data (Friday):
  • 8:30 ET: July Nonfarm Payrolls (Briefing.com consensus 86,000; prior 57,000), Nonfarm Private Payrolls (Briefing.com consensus 69,000; prior 49,000), Unemployment Rate (Briefing.com consensus 4.2%; prior 4.2%), Average Hourly Earnings (Briefing.com consensus 0.3%; prior 0.3%), and Average Workweek (Briefing.com consensus 34.3; prior 34.3)
  • 15:00 ET: June Consumer Credit (Briefing.com consensus $9.0 bln; prior -$0.2 bln)

• 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