a day ago
Dayforce said in talks to be acquired, Soho House to go private: Morning Buzz
The major indexes were trending lower near noon as investors lean into a busy week headlined by Jackson Hole central bank speeches and earnings from major retailers. Geopolitical developments are adding weight as markets are monitoring the potential implications of President Trump's meeting with Ukraine's president and European leaders as Washington seeks support for a Ukraine–Russia peace initiative.
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Looking to commodities, gold was little changed, while oil prices were marginally higher.
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2. WALL STREET CALLS:
CVS Health (CVS) upgraded to Buy from Neutral at UBS
Wells Fargo double upgraded Cogent (CCOI) on revenue inflection point
Occidental (OXY) downgraded at Morgan Stanley, here's why
Nano Nuclear Energy (NNE) double downgraded to Sell at Ladenburg after Q3 update
BofA sees Redwire (RDW) as less attractive than space peers, starts at Underperform
3. AROUND THE WEB:
Spruce Point says it is short iRhythm Technologies (IRTC), believing that risks related to an ongoing DOJ investigation into product deficiencies that jeopardize lives are underappreciated
British motorists can lease a Tesla (TSLA) EV for about half the cost it was a year ago, as the company attempts to boost its faltering sales in the U.K., The Times reports
Citigroup's (C) Vis Raghavan, Head of Banking, has accelerated a hiring spree of former JPMorgan Chase (JPM) colleagues, FT reports
Foxconn (HNHPF) plans to manufacture data center equipment with Softbank (SFTBY) at the company's former EV factory in Ohio, Reuters reports
Six Flags (FUN) has had a 'nightmare' of a summer following its merger with Cedar Fun due to severe thunderstorms and excessive heat, new rides being delayed, competition from new rivals, quality issues and economic uncertainty, WSJ says
4. MOVERS:
TeraWulf (WULF) gains after announcing Fluidstack exercised its option to expand at the company's Lake Mariner data center campus in Western New York
Yext (YEXT) higher after CEO Michael Walrath submitted a proposal to acquire all outstanding shares of the company for $9 per share in cash
Sunrun (RUN) increases after RBC Capital upgraded the stock to Outperform
Bitmine Immersion (BMNR) lower after announcing its crypto holdings exceeded $6.612B
Critical Metals (CRML) falls in New York after publishing assay results from its Tanbreez Project in Greenland
5. EARNINGS/GUIDANCE:
INDEXES:
Near midday, the Dow was down 0.03%, or 14.98, to 44,931.14, the Nasdaq was down 0.18%, or 38.91, to 21,584.06, and the S&P 500 was down 0.10%, or 6.73, to 6,443.07.
