AMD Shares Drop After Quarterly Report Disappoints
The major averages were mixed near noon after following another slate of up-and-down earnings results. AMD shares were dropping after its quarterly report underwhelmed some analysts, while software names like Oracle and CrowdStrike were also seeing pressure.Meanwhile, President Donald Trump said he had an "excellent telephone conversation" with China's President Xi Jinping. The supposedly positive sentiment from the White House follows news yesterday that the House of Representatives voted 217-214 to pass legislation funding major parts of the government, including an extension of DHS funding, and ending a partial shutdown.Looking to commodities, gold edged higher amid a continued period of volatility for the so-called "safe haven" asset. Oil prices were fractionally lower after yesterday's API crude data and this morning's DOE inventory report.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AMDreportedand provided upbeat Q1 revenue guidanceTexas InstrumentsSilicon Labsfor $231 per share in cashEli Lillyreportedand provided its outlook for FY26Chipotlereported better-than-expected Q4 earnings and revenue, thoughUberreportedand provided its guidance for Q12. WALL STREET CALLS:BofAFive Belowto Buy as results improve under new managementBooking Holdingsto Outperform at Mizuho and downgraded to Market Perform at CitizensPayPalat Citizens, HSBC and CanaccordAirbnbto Outperform at CitizensGE Vernovato Outperform at Baird3. AROUND THE WEB:Nvidiais close to a deal to invest $20B in OpenAI as part of its latest funding round seeking to raise up to $100B, Bloomberg saysFordand China's Geelyare in advanced discussions about a potential partnership, including using Ford's European factories for Geely vehicle production and possibly sharing vehicle and automated-driving technologies, Reuters saysAlphabetis planning to expand its presence in India, possibly taking millions of square feet in new office space in Bangalore, Bloomberg reportsThe joint owners of Virgin Media O2, Telefonicaand Liberty Global, intend to lead a EUR 2B acquisition of Netomnia, U.K.'s fourth-largest broadband network, FT saysBarclaysand NatWestwill both submit formal offers for Evelyn on Thursday, Sky News reports4. MOVERS:8x8gains afterand raising its guidance for FY25Super Microand Enphaseincrease afterBetMGMhigher afterLumenfalls afterand naming Jeff Sharritts as Chief Revenue OfficerIntapp (INTA) lower afterand providing guidance for Q3 and FY265. EARNINGS/GUIDANCEBoston Scientific, with CEO Mike Mahoney commenting, "2025 was another exceptional year for Boston Scientific"Fox Corp., with EPS and revenue beating consensusAbbVieand provided guidance for Q1 and FY26Fortive, with EPS and revenue beating consensusPerformance Food Group, with CEO Scott McPherson commenting, "Solid second quarter results positioned the organization well for the remainder of the fiscal year"INDEXES:Near midday, the Dow was up 0.45%, or 219.72, to 49,460.71, the Nasdaq was down 1.75%, or 407.12, to 22,848.06, and the S&P 500 was down 0.67%, or 46.49, to 6,871.32.
