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Apple invests extra $100B in U.S., Trump wants Intel CEO to resign: Morning Buzz

The major averages were mixed near noon, with the Nasdaq the lone gainer as traders digest another wave of major corporate earnings reports, as well as Apple confirming its plans for an additional $100B investment in U.S. manufacturing. Meanwhile, Trump’s sweeping new tariffs have taken effect, stirring global reactions, and the president called for the resignation of Intel CEO Lip-Bu Tan over alleged ties to China.

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Looking to commodities, gold prices are inching higher amid continued volatility, with the safe haven asset holding firmly above the $3,400 threshold. Meanwhile, oil prices edged lower, adding to the week’s losses.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

2. WALL STREET CALLS:

  • Roth Capital (LYFT) to Buy from Neutral
  • Morgan Stanley downgraded Caterpillar (CAT) to Underweight, noting the quarter’s negatives indicate “steady deterioration” in fundamentals
  • Leerink downgraded Eli Lilly (LLY) to Market Perform, here’s why
  • Fortinet (FTNT) downgraded to Hold from Buy at TD Cowen
  • Carvana (CVNA) assumed at Morgan Stanley with an Overweight rating

3. AROUND THE WEB:

  • AT&T (T) is seeking over $2B for Mexico mobile unit, Bloomberg says
  • United Airlines (UAL) flights resumed again late Wednesday, several hours after a system-wide technology issue caused the carrier to pause departures, WSJ says
  • Activist investor Starboard Value has accumulated more than a 9% stake in Rogers Corp. (ROG) and plans to seek another round of changes to boost shares, WSJ reports
  • According to comments made by South Korea’s top trade envoy Yeo Han-koo, Samsung Electronics (SSNLF) and SK Hynix (HXSCL) will not be subject to 100% U.S. tariffs on chips, Reuters reports
  • Prudential (PRU) has entered a $100M settlement to resolve civil charges brought by the U.S. Federal Trade Commission, FTC, over its Assurance IQ unit misleading consumers to purchase healthcare plans that did not include the promised coverage, Reuters says

4. MOVERS:

INDEXES:

Near midday, the Dow was down 0.67%, or 294.54, to 43,898.58, the Nasdaq was up 0.45%, or 94.84, to 21,264.27, and the S&P 500 was down 0.06%, or 3.58, to 6,341.48.

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