Warner Bros. writes down networks, Eli Lilly posts beat: Thursday Buzz

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

1. STOCK NEWS:

• Palantir (PLTR) and Microsoft (MSFT) are partnering on AI services to the U.S. Defense and Intelligence Community (read more)
• Eli Lilly (LLY) provided a “beat and raise” report for Q2 (read more)
• Warner Bros. Discovery (WBD) reported downbeat Q2 results, with the company noting that its Q2 loss included a $9.1B goodwill impairment charge (read more)
• Under Armour (UAA) issued a “beat and raise” report for Q1 (read more)
• Apple (AAPL) announced changes to its Digital Markets Act compliance plan (read more)

2. WALL STREET CALLS:

• Disney (DIS) downgraded to Neutral from Buy at Seaport Research(ARM) upgraded to Outperform at Daiwa (read more)
• Sarepta (SRPT) upgraded to Outperform at Evercore ISI (read more)
• Bumble (BMBL) was double downgraded to Underperform at BofA and also saw its rating cut at no less than five other firms with management resetting its go forward strategy (read more)
• Yeti (YETI) was upgraded to Buy at BofA on drivers of potential upside (read more)

3. AROUND THE WEB:

• Roblox (RBLX) has been blocked in Turkey due to content that a top official said could lead to child abuse, Bloomberg reports (read more)
• Google (GOOGL) and Meta (META) entered a secret deal to target ads for Instagram to teenagers on YouTube, FT reports (read more)
• Taiwan Semiconductor Manufacturing Company (TSM) is facing challenging making its U.S. facility, NY Times says (read more)
• BHP Group (BHP) is planning to sell Brazilian copper and gold assets it acquired with the takeover of Oz Minerals, Bloomberg reports (read more)
• Trend Micro (TMICY) is exploring a sale after attracting buyout interest, Reuters reports (read more)

4. MOVERS:

• Harrow (HROW) increases after reporting Q2 results, with EPS and revenue beating consensus (read more)
• Klaviyo (KVYO) gains after reporting Q2 results and raising its guidance for FY24 (read more)
• SkyWater Technology (SKYT) and CommScope (COMM) higher after reporting quarterly results (read more)
• Ironwood (IRWD) and Dutch Bros (BROS) fall after reporting quarterly results (read more)
• JFrog (FROG) lower after reporting Q2 results and cutting guidance for FY24 (read more)

5. EARNINGS/GUIDANCE:

• Yeti (YETI) reported Q2 results and raised its guidance for FY24 (read more)
• Penn Entertainment (PENN) reported Q2 results, with EPS and revenue beating consensus (read more)
• Bumble (BMBL) reported Q2 results and provided guidance for Q3 (read more)
• Fastly (FSLY) reported Q2 results with CEO Todd Nightingale commenting, “We continued to drive customer acquisition” (read more)
• Monster Beverage (MNST) reported Q2 results, with EPS and revenue missing consensus (read more)

INDEXES:

The Dow rose 683.04, or 1.76%, to 39,446.49, the Nasdaq gained 464.22, or 2.87%, to 16,660.02, and the S&P 500 advanced 119.81, or 2.30%, to 5,319.31.