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Major Averages Close Sharply Higher, Nasdaq Up 1.40%
The major averages closed sharply higher as Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be "inclined to support" maintaining interest rates where they are, barring any major development from upcoming inflation data.Meanwhile, the war between the U.S. and Iran featured new attacks around the Persian Gulf, pushing crude oil prices up about 1%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:NvidiaHugging Face for $12.9BBroadcomreportedand provided its outlook for Q4 and FY27HP Enterpriseprovided areport for Q3Snowflakealso provided areport for Q2Campbell'sreportedand reduced its quarterly dividend2. WALL STREET CALLS:Modernato Sell from Neutral at Rothschild & Co RedburnBroadcomto Outperform at MacquarieUltragenyxby at least seven firms after Angelman syndrome study missEnvistato Overweight at JPMorganPG&Eto Hold at Truist3. AROUND THE WEB:Thinking Machines Lab, the AI developer led by ex-OpenAI chief technology officer Mira Murati, is in talks to raise at least $1B at a valuation of at least $40B before the investment, The Information reportsAmazonis projecting that it could deliver nine out of every 10 U.S. packages through its own delivery network by 2029, Business Insider reportsSamsung Life is seeking to acquire a 15% stake in Principal Financial, Korea Economic Daily saysActivist Elliott Investment Management has built a "sizeable" stake in Deutsche Telekomand is said to oppose a potential merger of the German telecommunications giant with its American unit, T-Mobile, Bloomberg saysGlobal companies including Volkswagen, Tesla, Nokiaand Amazonhave named businesses blacklisted by western authorities as potentially present in their supply chains, FT reports4. MOVERS:Currence Capitalgained in New York afterwith Mint Incorporationto support the issuer-sponsored tokenizationGalaxy Digitalincreased after Morgan Stanleyon the stock to $48Circle Internetwas higher after president Heath Tarbert testified before the House Financial Services Committee to recommend aCienawas lower after, providing guidance for Q4, and raising its outlook for FY26Trip.comfell in New York after HSBCthe stock to Hold5. EARNINGS/GUIDANCE:Tyson Foodscut itsToro Companiesand raised its outlook for FY26Land's Endand provided guidance for Q3 and FY26Wileyand reaffirmed its outlook for FY27Victoria's Secretand raised its outlook for FY26, with CEO Hillary Super calling it "another strong quarter"INDEXES:The Dow rose 624.16, or 1.18%, to 53,686.11, the Nasdaq gained 366.23, or 1.40%, to 26,584.06, and the S&P 500 advanced 81.11, or 1.06%, to 7,747.71.
Major Averages Surge at Noon, Nasdaq Up 1.34%
The major averages were sharply higher near noon as Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be "inclined to support" maintaining interest rates where they are, barring any major development from upcoming inflation data.Meanwhile, geopolitical tensions in the Middle East remain, as the war between the U.S. and Iran featured new attacks around the Persian Gulf, pushing crude prices higher. Oil prices were up about 1% near noon.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:NvidiaHugging Face for $12.9BBroadcomreportedand provided its outlook for Q4 and FY27HP Enterpriseprovided areport for Q3Snowflakealso provided areport for Q2Campbell'sreportedand reduced its quarterly dividend2. WALL STREET CALLS:Modernato Sell from Neutral at Rothschild & Co RedburnBroadcomto Outperform at MacquarieUltragenyxby at least seven firms after Angelman syndrome study missEnvistato Overweight at JPMorganPG&Eto Hold at Truist3. AROUND THE WEB:Amazonis projecting that it could deliver nine out of every 10 U.S. packages through its own delivery network by 2029, Business Insider reportsSamsung Life is seeking to acquire a 15% stake in Principal Financial, Korea Economic Daily saysActivist Elliott Investment Management has built a "sizeable" stake in Deutsche Telekomand is said to oppose a potential merger of the German telecommunications giant with its American unit, T-Mobile, Bloomberg saysGlobal companies including Volkswagen, Tesla, Nokiaand Amazonhave named businesses blacklisted by western authorities as potentially present in their supply chains, FT reportsThe Trump administration implemented tariffs of up to 100% on drones as it seeks to hinder the Chinese drone industry and bolster domestic manufacturing, NY Times says4. MOVERS:Currence Capitalgains in New York afterwith Mint Incorporationto support the issuer-sponsored tokenizationGalaxy Digitalincreases after Morgan Stanleyon the stock to $48Cienalower after, providing guidance for Q4, and raising its outlook for FY26Trip.comfalls in New York after HSBCthe stock to HoldFluence Energydeclines after Barclaysthe stock to Underweight5. EARNINGS/GUIDANCE:Tyson Foodsfor FY26Toro Companiesand raised its outlook for FY26Land's End (LE)and provided guidance for Q3 and FY26Wileyand reaffirmed its outlook for FY27Victoria's Secretand raised its outlook for FY26, with CEO Hillary Super calling it "another strong quarter"INDEXES:Near midday, the Dow was up 608.57, or 1.15%, to 53,670.52, the Nasdaq was up 351.36, or 1.34%, to 26,569.18, and the S&P 500 was up 75.35,or 0.98%, to 7,741.95.
Company Raises Full-Year Net Sales Growth Outlook to 6.3%-6.6%
Consensus $4.61. Raises FY net sales growth view 6.3%-6.6% from 4%-6.5%. "Our end markets are healthy, customer response to our innovative new products has been strong, and our team's disciplined execution continues to drive growth across all of our businesses. Productivity initiatives are delivering margin expansion and the team is effectively managing inventory. This gives us the confidence to raise our full-year guidance."
Company Reports Q3 Revenue of $1.23B, Beating Expectations
Reports Q3 revenue $1.23B, consensus $1.19B. "Strong momentum continued in the third quarter, supported by sustained demand across our portfolio and our consistent focus on operational excellence and margin expansion," said Richard M. Olson, chairman and chief executive officer. "The Professional segment demand drives overall performance, aided by Residential improvement on both the top and bottom line. We continue to reduce inventory and improve working capital. These company initiatives also drive robust free cash flow and value creation for our shareholders, through dividends and share repurchases."
Toro Company Appoints Edric C. Funk as CEO
The Toro Company announced a leadership transition as part of its long-term, succession planning process. On July 21, 2026, the company's board of directors elected president and chief operating officer Edric C. Funk to the position of president and chief executive officer, effective November 1, 2026. He will also join the board of directors, effective immediately. Funk will succeed Richard M. Olson, who will transition to the role of executive chairman of the board following more than four decades with the company, most recently as chief executive officer since 2016.
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