Berkshire takes stake in UnitedHealth, Sandisk reports Q4 beat; Morning Buzz
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On the global stage, traders are looking ahead to the high-stakes summit between President Trump and Russia's President, Vladimir Putin, in Alaska. Expectations of progress on Ukraine and a potential thaw in global tensions are underpinning cautious optimism across equity markets.
Looking to commodities, gold prices are up fractionally following yesterday's declines. Oil prices, meanwhile, are marginally higher.
1. STOCK NEWS:
2. WALL STREET CALLS:
Target (TGT) downgraded to Underperform at BofA on sales and margin risks
Salesforce (CRM) upgraded to Neutral at DA Davidson following underperformance
Wingstop (WING) upgraded to Strong Buy from Outperform at Raymond James
Cisco (CSCO) downgraded to Hold at HSBC, here's why
Applied Materials (AMAT) downgraded to Hold at Summit Insights and BofA after earnings
3. AROUND THE WEB:
FuzzyPanda Research is short Red Cat (RCAT) as it believes 'that the best time to short a paid stock promotion is when it finally has to deliver results'
The 2024 cyberattack at UnitedHealth's (UNH) tech unit impacted 192.7 million people, Reuters reports
Goldman Sachs (GS) is offering clients a stake of Izzy Englander's Millennium Management for $1M-$20M, Bloomberg says
The National Highway Traffic Safety Administration has stopped the paperwork necessary to finalize the selling of electric vehicle credits, holding up $100M of revenue for Rivian (RIVN), WSJ reports
Royal Bank of Canada (RY) and Bank of Montreal (BMO) have placed their Canadian payments joint venture up for sale, in a deal that may value the business as highly as $2B, Reuters says
Precigen (PGEN) advances after FDA approved the company's Papzimeos, an immunotherapy for respiratory papillomatosis
Hesai (HSAI) gains in New York after reporting Q2 results and securing a new lidar design win from Toyota (TM)
Nu Holdings (NU) higher in New York after reporting quarterly results
Metals Company (TMC) lower in New York after reporting Q2 results and announcing its cash balance is sufficient to meet its needs for at least 12 months
ASP Isotopes (ASPI) falls after entering into a Joint Venture MoU with Fermi
5. EARNINGS/GUIDANCE:
BitFuFu (FUFU) reported Q2 results, with CEO Leo Lu commenting, 'We delivered strong financial results in the Q2'
Flower Foods (FLO) reported Q2 results and cut its guidance for FY25
Globant (GLOB) reported Q2 results and provided guidance for Q3 and FY25
Evolv (EVLV) reported Q2 results and raised its guidance for FY25
Gambling.com (GAMB) reported Q2 results, with EPS and revenue beating consensus
INDEXES:
Near midday, the Dow was up 0.20%, or 91.36, to 45,002.62, the Nasdaq was down 0.44%, or 94.99, to 21,615.68, and the S&P 500 was down 0.28%, or 17.79, to 6,450.75.
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