CoreWeave reports Q2 beat, Gildan to acquire Hanesbrands: Morning Buzz
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Looking to commodities, gold prices were fractionally higher, holding firmly above the $3,400 threshold. Oil prices, meanwhile, were dropping following crude storage data.
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2. WALL STREET CALLS:
JPMorgan upgraded Capri (CPRI) to Overweight on improved revenue outlook
Oppenheimer downgraded C3 AI (AI) after 'extremely weak' results
Cadre (CDRE) downgraded to Underperform at BofA on growth concerns
Palo Alto Networks (PANW) upgraded at Deutsche Bank, here's why
Goldman Sachs double upgraded CACI (CACI) to Buy from Sell, calling it 'best positioned in the defense space under the Trump administration'
3. AROUND THE WEB:
Western drugmakers, including Eli Lilly (LLY), Pfizer (PFE), and Novo Nordisk (NVO), are looking to boost sales of their most innovative and expensive medicines in China by trying to get their treatments included in Beijing's new catalog for commercial health insurance, Bloomberg says
Northrop Grumman (NOC) is planning to quadruple its chip output by 2030, Axios reports
China is discouraging firms from buying Nvidia's (NVDA) H20 AI chip despite its role in trade negotiations with the U.S., WSJ says
An Australian federal judge has ruled that Apple (AAPL) and Google (GOOGL) engaged in anticompetitive conduct by misusing their app store market power, ABC reports
TSMC (TSM) will phase out its 6-inch wafer manufacturing business over the next two years and continue consolidating its 8-inch wafer production capacity to improve efficiency, Reuters says
Webtoon (WBTN) increases after entering a partnership with Disney (DIS)
Hudbay (HBM) gains in New York after reporting Q2 results and announcing Mitsubishi has agreed to acquire a 30% interest in Copper World
Tilray (TLRY) higher in New York after entering a partnership with L. Molteni & C dei F.lli Alitti Societa di Esercizio to broaden access to medical cannabis extracts in Italy
ProFrac Holding (ACDC) lower after announcing an 18.75M share offering
Zevra Therapeutics (ZVRA) and KinderCare (KLC) fall after reporting quarterly results
5. EARNINGS/GUIDANCE:
Globe-e Online (GLBE) reported Q2 results and raised its guidance for FY25
Elbit Systems (ESLT) reported Q2 results, with EPS and revenue beating consensus
Performance Food Group (PFGC) reported Q4 results, with CEO George Holm commenting, 'Our organization finished fiscal 2025 with strong financial results'
Stratasys (SSYS) reported Q2 results and cut its guidance for FY25
Loar Holdings (LOAR) reported Q2 results, with EPS and revenue beating consensus
INDEXES:
Near midday, the Dow was up 0.64%, or 284.80, to 44,742.49, the Nasdaq was up 0.03%, or 6.98, to 21,688.89, and the S&P 500 was up 0.09%, or 6.03, to 6,451.79.
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