La-Z-Boy Inc (LZB) News & EventsLZBLa-Z-Boy Inc

Major Averages Rise as Bond Yields Slip

The major averages were broadly higher near noon as bond yields slipped after the U.S. Treasury Department announced an increased buyback operation for longer-term debt. Investors are also eyeing stabilization following recent declines led by a sharp selloff in technology and semiconductor names.The Federal Reserve's July meeting minutes are the day's main catalyst, due at 2 p.m. ET. Investors will be looking for clues about the debate within the FOMC after the central bank held rates at 3.5%-3.75% in July. The minutes could be particularly important following the weak July employment report and relatively contained inflation data, which have reduced probabilities for a more hawkish September policy tilt, although rising oil prices and longer-term Treasury yields complicate the outlook.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Targetprovided areport for Q2TJXreportedand provided a conservative outlook for Q3 and FY27 earningsLowe'sreportedand narrowed its FY26 guidanceLa-Z-Boyreportedand provided a conservative revenue guide for Q2OpenAI's revenue rose 18% from Q1 to Q2 but its losses deepened and operating margin sank further into the red,2. WALL STREET CALLS:William BlairModernato Outperform from Market PerformMorgan StanleyBaiduto Underweight on ramping AI investmentsNorthlandCienaon larger than expected marketJPMorganKlarnato Neutral on lack of visibility into medium-term trendsRBC Capitalcoverage of McKessonwith a Sector Perform rating and $845 price target3. AROUND THE WEB:Novo Nordiskis testing lower doses of oral Wegovy to identify the minimum effective dose, Reuters reportsMicrosoftAI CMO Andrea Mallard is stepping back from her role about six months after joining the AI unit, Business Insider saysSamsunghas raised the prices for some advanced contract chipmaking services by up to 15% due to strong demand, Reuters reportsGooglehas told suppliers it plans to move all Pixel phone, smartwatch, and wireless earbud manufacturing out of China in 2027 amid U.S.-China tensions, Nikkei Asia saysNokiawill close almost all its sites in mainland China by year end, South China Morning Post reports4. MOVERS:Modernagains after its Phase 3 INTerpath-001 trial with MerckEstee Lauderincreases afterand providing guidance for FY27Pilgrim's Pridehigher after JBSproposed toof the companyWhifeFiberfalls after announcing the pricing of itsBlackblazelower after announcing a5. EARNINGS/GUIDANCE:Datavaultand reaffirmed its guidance for FY26Mercury Systems (MRCY) reportedOpera, provided its outlook for Q3, and announced guidance for FY26ZIM Integrated, with EPS and revenue lower year-over-yearFull Truck Alliance, with EPS and revenue beating consensusINDEXES:Near midday, the Dow was up 167.83, or 0.31%, to 53,511.23, the Nasdaq was up 78.81, or 0.30%, to 26,368.52, and the S&P 500 was up 31.51, or 0.41%, to 7,723.27.

SK Hynix Approves 40 Trillion Won Share Buyback

Stock futures are mostly flat Wednesday after a three-session decline, with investors looking for stabilization following Tuesday's sharp selloff in technology and semiconductor stocks. The recent pressure has come from rising Treasury yields and concerns that elevated AI valuations may be vulnerable to higher financing costs.The Federal Reserve's July meeting minutes are the day's main catalyst, due at 2 p.m. ET. Investors will be looking for clues about the debate within the FOMC after the central bank held rates at 3.5%-3.75% in July. The minutes could be particularly important following the weak July employment report and relatively contained inflation data, which have increased expectations for a September policy shift, although rising oil prices and longer-term Treasury yields complicate the outlook.The bond market remains a major concern. The 30-year Treasury yield recently reached about 5.34%, its highest level since 2007, before easing slightly. Higher long-term yields are particularly challenging for high-growth technology stocks because they increase the discount rate applied to future earnings.Retail earnings are also providing a read on the U.S. consumer. Targetreported better-than-expected quarterly results and raised its outlook, while Lowe'scut its full-year sales outlook after weaker revenue. TJXalso reported results. The mixed results suggest consumers remain resilient in some areas but are becoming more selective as economic uncertainty and prices remain elevated.Brent crude has moved back above $90 a barrel as tensions surrounding Iran and the Strait of Hormuz threaten to keep energy supplies constrained. Persistent oil-price gains could complicate the Fed's efforts to ease policy by adding to inflation expectations.In pre-market trading, S&P 500 futures fell 0.7%, Nasdaq futures fell 0.11% and Dow futures were flat.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Modernaand Merckup 96% and 7% respectively after reporting the INTerpath-001 trial evaluating adjuvant treatment with intismeran autogene, an investigational mRNA-based individualized neoantigen therapy being jointly developed by the companies, met its primary endpointSK Hynixup 6% after announcing its board has approved a resolution to repurchase and fully cancel 40 trillion won worth of its own sharesUP AFTER EARNINGS -Estee Lauderup 13%Analog Devicesup 2%Targetup 1%Keysight Technologiesup 1%Toll Brothersup 2%DOWN AFTER EARNINGS -La-Z-Boydown 17%Mercury Systemsdown 10%TJXdown 4%Lowe'sdown 1%

NASDAQ Drops 1.3% as US Stocks Retreat

The gains made by AI CapEx names overnight that helped prop up the S&P 500 reversed sharply today, sending both the benchmark index as well as the tech-heavy NASDAQ Composite sharply lower.   S&P 500, off by 0.7%, was down for the third consecutive day, landing at a two-week low below 7,700 as investors booked profits and some of this year's biggest winners.  Micronand Western Digitalwere down over 7%, while SanDiskand Seagatewere down over 9%, with Technology by far the worst performing segment in the index today.  Defensively-inclined Healthcare and Consumer Staples sectors outpeformed, with Energy also trading relatively higher as the U.S.-Iran war uncertainty continues to boost oil prices.  In turn, Nasdaq Composite shed 1.3% to its lowest level since August 6th.In the opening hour of the evening session, sentiment remains fragile - S&P e-minis are down a decimal and NASDAQ 100 contract down by 0.2%.  Ahead of tomorrow's FOMC July meeting minutes, fixed income markets are on edge as the global bond rout continues to push up the yields of longer-dated maturities.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Keysight Technologiesup 3.2%Toll Brothersup 0.8%DOWN AFTER EARNINGS -La-Z-Boydown 17.2%Mercury Systemsdown 10.5%ALSO LOWER -WhiteFiberdown 20.5% after convertible debt offeringBackblazedown 2.1% after convertible debt offering