TipRanks
3 min read
In This Article:
The major averages were higher near noon, with the S&P 500 continuing its path towards all-time highs reached earlier this year. Meanwhile, the U.S. dollar is under pressure amid the worst first-half performance in 50 years, falling to its lowest since early 2022 amid speculation that President Trump may replace Fed Chair Powell before his term ends and markets pricing in over 60 basis points of rate cuts by year-end.
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Looking to commodities, the price of gold was fractionally lower, continuing a volatile month for the typically “safe-haven” asset. Oil prices are more than 2% higher as the commodity claws back from recent declines amid hostilities in the Middle East.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
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Shell (SHEL) said it has(BP)
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Micron (MU) reported better-than-expected Q3 results and provided an upbeat outlook for Q4
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Walgreens Boots Alliance (WBA) reported upbeat Q3 earnings and revenue
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Incyte (INCY) named Bill Meury to succeed Herve Hoppenot as CEO, with RBC saying the new CEO fuels M&A speculation
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Apple (AAPL) is considering starting its own theatrical distribution unit amid its major bet on Brad Pitt film “F1,” WSJ reports
2. WALL STREET CALLS:
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BMO Capital (TTD) downgraded to Equal Weight, here’s why
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Citizens JMP upgraded Penn Entertainment (PENN) to Outperform while downgrading MGM Resorts (MGM) to Market Perform
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RBC Capital upgraded General Mills (GIS) to Outperform from Sector Perform
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BofA reinstated coverage of Unity (U) with an Underperform rating
3. AROUND THE WEB:
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Unionized refinery workers at Nexa‘s (NEXA) Cajamarquilla Zinc Refinery in Lurigancho, Peru have announced a strike after unsuccessful wage adjustment negotiations, Gestion reports
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Meta (META) CEO Mark Zuckerberg has hired three AI researchers from Microsoft-backed (MSFT) OpenAI to help with his superintelligence efforts, WSJ says
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BlackRock (BLK) is accelerating its push into private investments, now including them in funds for 401(k) retirement plans, WSJ reports
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Charlie Ergen has asked creditors to EchoStar (SATS) and Dish Network for a reprieve on the company’s debt, just days before a 30-day grace period on unpaid interest payments is set to expire, Bloomberg reports
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JetBlue’s (JBLU) second-biggest stakeholder, Vladimir Galkin, is threatening to sell his nearly 10% interest in the carrier if its cost-cutting plan and broader efforts fail to turn around its performance, Reuters says
