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USA-Values ​​to follow on Wall Street (updated) - 07/22/2022 at 14:49

USA-Values ​​to follow on Wall Street (updated) – 07/22/2022 at 14:49

(Updated with Twitter, headline from HCA Healthcare)

July 22 (Reuters) – Top stocks to watch on Friday on Wall Street where futures point to an open lower for the Standard & Poor’s 500 .SPX and the Nasdaq Composite .IXIC but slightly higher for the Dow Jones .DJI:

* TWITTER TWTR.N posted a drop in quarterly revenue on Friday that it attributed to the failed plan to acquire the platform by Elon Musk and a weakening digital advertising market. The title fell by 2.8% in pre-market trading.

* SNAP SNAP.PA, which has seen ad demand weighed down by record inflation and growing competition from apps like TikTok, reported disappointing quarterly results on Thursday and refrained from giving forecasts. The social network fell by around 28% in pre-market trading. In its wake, competitors META PLATFORMS META.O, TWITTER and PINTEREST PINS.N were losing between 2.5% and 6.3% in pre-opening trades. Several brokers including JP Morgan and Deutsche Bank have lowered their recommendations.

* Semiconductor manufacturers MICRON TECHNOLOGY

MU.O and WESTERN DIGITAL WDC.O were down 4.9% and 6.8% respectively after rival SEAGATE STX.O, listed down 12%, announced it would cut production, its customer base limiting spending due to macroeconomic uncertainties and component shortages. In addition, Morgan Stanley is downgrading its recommendation on Micron to “underweight” versus “online weight”.

* VERIZON COMMUNICATIONS VZ.N lowered its adjusted annual profit forecast on Friday after recording fewer subscribers paying a monthly plan in the second quarter than expected. He lost 3.9% before the market.

* SCHLUMBERGER SLB.N published second quarter results on Friday above expectations and raised its forecast for annual turnover, supported by demand.

* AMERICAN EXPRESS AXP.N gained 5% after the publication of its quarterly results and the upward revision of its annual growth forecast.

* MATTEL MAT.O released quarterly results on Thursday that beat expectations as higher prices failed to dampen demand for its toys.

* FEDEX FDX.N announced on Thursday that it will suspend Sunday delivery operations in certain low-density rural U.S. markets starting Aug. 15.

* WARNER BROS DISCOVERY WBD.O – The UK competition authority on Friday approved the merger of the sports broadcasting businesses of Warner and BT BT.L.

* NEXTERA ENERGY NEE.N said on Friday it had increased its profit fivefold, buoyed by growing demand for alternative energy.

* GAMESTOP GME.N took 1.4% in pre-market after announcing Friday a split by 4 of the nominal of its action.

* HCA HEALTHCARE HCA.N on Friday reported a 20% drop in quarterly profit, hurt by rising labor costs. The title climbed about 12% in pre-market.

* WALMART WMT.N , TARGET TGT.N , ETSY ETSY.O – Piper Sandler starts tracking all three stocks at “neutral”.

* AT&T TN – Barclays downgrades its stock recommendation to “line weight” from “overweight” and lowers its price target to $20 from $22.

* PARAMOUNT GLOBAL PARA.O – MoffettNathanson downgrades its recommendation to “underperform” and lowers its price target to $18 from $30.

* KEYCORP KEY.N – Wedbush downgrades its recommendation to “neutral” versus “outperform” and raises its price target to $21 versus $20.

* MARVELL TECHNOLOGY MRVL.O – Benchmark begins tracking the stock with a recommendation to “buy” and sets a price target of $70.

(Written by Juliette Portala, edited by Laetitia Volga)

((For the schedule of results, double-click on RESF/US For the changes of recommendations, click on RCH/US ))

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