Texas probes CenterPoint, Starbucks in talks with Elliott: Morning Buzz

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Texas has opened an investigation into CenterPoint (CNP) over Hurricane Beryl conduct (read more)
• Meta (META) and Universal Music Group (UMGNF) have entered into an expanded global agreement (read more)
• KE Holdings (BEKE) reported upbeat Q2 results and increased its share repurchase program (read more)
• China Yuchai (CYD) reported year-over-year increases in Q2 earnings and revenue (read more)
• Starbucks (SBUX) is in settlement talks with Elliott Investment Management, according to Bloomberg (read more)

2. WALL STREET CALLS:

• Deutsche upgraded Eli Lilly (LLY) to Buy on high growth outlook (read more)
• Robinhood (HOOD) was upgraded to Overweight from Neutral at Piper Sandler (read more)
• Wolfe downgraded Qualcomm (QCOM) on Apple’s (AAPL) internal modem progress (read more)
• Prologis (PLD) was downgraded on slower demand recovery at BofA (read more)
• Goldman Sachs initiated Mondelez (MDLZ) with a Buy rating (read more)

3. AROUND THE WEB:

• Turkey restored access to Instagram (META) on Saturday after a nine-day block, Reuters reports (read more)
• Superiors at Bank of America (BAC) instruct junior bankers to ignore policies that limit working hours, WSJ says (read more)
• Pharmaceutical giants such as AbbVie (ABBV), AstraZeneca (AZN), and Merck (MRK) have shifted to smaller acquisition targets costing $5B or less, WSJ reports (read more)
• Tesla (TSLA) stopped taking orders for the cheapest model of its Cybertruck electric pickup, Fox Business says (read more)
• Cisco (CSCO) will cut thousands of jobs in a second round of layoffs this year, Reuters reports (read more)

4. MOVERS:

• Revance (RVNC) higher after entering a merger agreement with Crown Laboratories (read more)
• KeyCorp (KEY) gains after announcing Scotiabank (BNS) will acquire a 14.9% interest in the company for $2.8B (read more)
• Barrick Gold (GOLD) higher in New York after reporting quarterly results (read more)
• Endeavour Silver (EXK) falls after announcing failure at Guanacevi mill (read more)
• Humacyte (HUMA) lower after announcing the FDA will require more time to complete its review of ATEV BLA (read more)

5. EARNINGS/GUIDANCE:

• Atossa Therapeutics (ATOS) reported Q2 results, with EPS beating consensus (read more)
• Neuronetics (STIM) reported Q2 results and provided guidance for Q3 and FY24 (read more)
• Monday.com (MNDY) reported Q2 results and raised its guidance for FY24 (read more)
• Bitdeer (BTDR) reported Q2 results, with EPS and revenue missing consensus (read more)
• Fortrea Holdings (FTRE) announced Q2 results and provided guidance for FY24 (read more)

INDEXES:

Near midday, the Dow was down 34.45, or 0.087%, to 39,463.09, the Nasdaq was up 95.47, or 0.57%, to 16,840.77, and the S&P 500 was up 15.61, or 0.29%, to 5,359.77.