Uber, Caterpillar report Q2 beats: Tuesday Buzz

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

1. STOCK NEWS:

• Uber (UBER) reported better-than-expected Q2 earnings and revenue (read more)
• Caterpillar (CAT) reported upbeat Q2 results but said it expects FY24 revenue to be “slightly lower” than FY23 (read more)
• Palantir (PLTR) provided a “beat and raise” report for Q2 (read more)
• CSX (CSX) reported reported better-than-expected Q2 earnings (read more)
• Disney (DIS) announced higher prices for streaming platforms, new channels (read more)

2. WALL STREET CALLS:

• Nvidia (NVDA) upgraded to Buy at New Street after 26% pullback (read more)
• Crowdstrike (CRWD) upgraded to Overweight at Piper Sandler (read more)
• Carlyle (CG) downgraded to Neutral at JPMorgan (read more)
• BofA downgraded ZoomInfo (ZI) to Underperform from Buy (read more)
• Intel (INTC) downgraded to Hold at Argus amid “massive restructuring” (read more)

3. AROUND THE WEB:

• WPP (WPP) is close to an agreement to sell its controlling stake in FGS Global to KKR (KKR) for about $800M, FT reports (read more)
• Tesla (TSLA) plans to recall 1.68M vehicles in China due to safety concerns in the front trunk latch system, CCTV says (read more)
• Management at Warner Bros. Discovery (WBD) wants to avoid breaking up the company, FT says (read more)
• Dell (DELL) is restructuring its sales division and cutting staff, Business Insider reports (read more)
• Tractors and Farm Equipment, Agco‘s (AGCO) largest shareholder, is seeking to replace the company’s directors, Bloomberg says (read more)

4. MOVERS:

• Yum China (YUMC) gains in New York after Macquarie double upgraded the stock to Outperform (read more)
• TG Therapeutics (TGTX) increases after reporting quarterly results (read more)
• Lumen (LUMN) higher after Citi upgraded the stock to Neutral (read more)
• Jumia Technologies (JMIA) falls in New York after reporting Q2 results and announcing plans to reduce cash utilization (read more)
• AdaptHealth (AHCO) lower after reporting Q2 results and providing guidance for FY24 (read more)

5. EARNINGS/GUIDANCE:

• Avis Budget (CAR) reported Q2 results, with EPS and revenue missing consensus (read more)
• Hims & Hers (HIMS) reported Q2 results and raised its guidance for FY24 (read more)
• Yum! Brands (YUM) reported Q2 results and provided guidance for FY24 (read more)
• Celsius (CELH) reported what its CEO called the company’s “best Q2 financial results ever” (read more)
• Kenvue (KVUE) reported Q2 results and backed its FY24 guidance (read more)

INDEXES:

The Dow rose 294.39, or 0.76%, to 38,997.66, the Nasdaq gained 166.77, or 1.03%, to 16,366.85, and the S&P 500 advanced 53.70, or 1.04%, to 5,240.03.