UnitedHealth suspends outlook, Under Armour reports Q4 beat; Morning Buzz
The S&P 500 was higher near noon amid renewed optimism over a temporary trade agreement between the U.S. and China. The Dow Jones Industrial Index was the only major index in the red, as it was dragged down by UnitedHealth after news of a CEO change and a suspension of guidance amid rising medical costs.
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Looking to commodities, the price of gold was fractionally higher, rebounding somewhat from recent losses. Oil prices were sharply higher again, continuing the commodity's recent rally after a dismal April.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
2. WALL STREET CALLS:
Peloton (PTON) upgraded at Macquarie, here's why
Monness Crespi upgraded Coinbase (COIN) with Q2 guidance looking 'conservative'
Caterpillar (CAT) upgraded to Outperform from Neutral at Baird
Barclays double downgraded Enphase Energy (ENPH) to Underweight from Overweight while the stock was also downgraded to Underperform at BNP Paribas Exane and BMO Capital
Halozyme (HALO) and J&J (JNJ) had their ratings cut following CMS draft guidance
3. AROUND THE WEB:
5. EARNINGS/GUIDANCE:
Honda (HMC) reported FY25 results and provided guidance for FY26
Y-mAbs (YMAB) reported Q1 results, with EPS and revenue beating consensus
Bayer (BAYRY) reported Q1 results and confirmed its outlook for 2025
Tencent Music (TME) reported Q1 results, with Executive Chairman Cussion Pang commenting, 'Our strong first-quarter performance… underscores the successful execution of our high-quality growth strategy'
JD.com (JD) reported Q1 results, with CEO Sandy Xu commenting, 'We saw a strong start to the year'
INDEXES:
Near midday, the Dow was down 0.36%, or 152.95, to 42,257.15, the Nasdaq was up 1.56%, or 292.34, to 19,000.69, and the S&P 500 was up 0.81%, or 47.09, to 5,891.28.
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