Dow Jones Up 800 Points, Nasdaq Slips
The major averages were mixed at midday, with the Dow Jones Industrial Average was more than 800 points higher and the Nasdaq slipping as investors take profits in semiconductor stocks amid the market reaction to Broadcom's earnings report. Broadcom's reaction suggests the market may be entering a phase where strong results alone are no longer enough if guidance does not materially improve.Meanwhile, oil prices have eased slightly following reports of progress toward regional de-escalation in the Middle East. At the same time, gold is modestly higher as traders seek safety amid the pullback in technology shares and ongoing geopolitical uncertainty.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Broadcomreportedand reiterated its FY27 AI revenue targetCrowdStrikeprovided areport for Q1Five Belowalso provided areport for Q1Blackstone Private Credit Fundiscompared to the requested 10%PVH Corp.reportedand affirmed its FY26 guidance2. WALL STREET CALLS:BofAUnitedHealthto Buy on improving medical cost trendsMacquarieBroadcomon Googlemove to insource chipsRTXto Buy from Hold at JefferiesPVH Corp.to In Line from Outperform at Evercore ISIUBSEHangto Neutral amid setbacks3. AROUND THE WEB:TSMC'sCEO C.C. Wei said global chip supply is expected to remain constrained relative to AI-driven demand for years, noting that even with expanded U.S. manufacturing capacity, the company will not be able to fully meet strong customer demand, Bloomberg reportsIn a confidential Competition Commission of India, CCI, order, Appleagreed to submit the financials of its India business to the antitrust body as part of an investigation into whether the company abused its market position in the country, Reuters saysMetahas delayed plans to release its newest AI model to developers several times and does not have a planned date to release it, WSJ saysNvidiahas acquired Kumo AI, a startup focused on foundation models for business prediction and analytics, with all three co-founders already joining Nvidia, Yahoo Finance reportsSome members of the Glazer family are considering selling their stake in Manchester United FCafter internal discussions about individual exits, potentially drawing interest from Middle Eastern and U.S. wealthy buyers at a high valuation, Bloomberg reports4. MOVERS:Oscar Healthgains after Wells Fargothe stock to Equal Weight from UnderweightRedwireincreases after beingfrom Astrobiome SpaceAbsci (ABSI) higher after Leerinkof the stock with an Outperform ratingPetcolower afterand providing guidance for Q2 and FY26Netskopefalls afterand providing guidance for FY275. EARNINGS/GUIDANCE:Toro Companyand raised its guidance for FY26Ciena, with CEO Gary Smith commenting, "Today's results reflect the strength of our portfolio"Caleresand provided its guidance for Q2 and FY26Columbus McKinnon, with EPS missing consensusIDT Corpand raised its guidance for FY26INDEXES:Near midday, the Dow was up 1.69%, or 857.93, to 51,545.00, the Nasdaq was down 0.38%, or 101.24, to 26,752.73, and the S&P 500 was up 0.18%, or 13.33, to 7,567.01.
