Midday Fly By: Micron reports Q2 beat, Uber invests in Rivian

The major averages were broadly lower near noon once again as investors digest the Federal Reserve’s policy decision yesterday and await more news coming out of the Middle East. The Fed left interest rates unchanged, as expected, but signaled a more patient approach toward easing, reflecting concern that recent volatility in energy prices could keep inflation elevated in the near term.

Claim 55% Off TipRanks

Meanwhile, oil remains higher following Iran attacking a key liquefied natural gas export facility in Qatar as well as an attack on Iran’s South Pars field by Israel. Commenting on the matter, President Donald Trump said that if more facilities in Qatar were struck, the U.S. would “massively blow up the entirety of the South Pars Gas Field.”

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

1. STOCK NEWS:

• Micron (MU) reported better-than-expected Q2 earnings and revenue, provided upbeat Q3 guidance, and raised its quarterly dividend 30%
• Alibaba (BABA) reported mixed Q3 results
• Five Below (FIVE) reported upbeat Q4 results and provided its outlook for Q1 and FY26
• Darden (DRI) reported mixed quarterly results, though consolidated SSS rose 4.2%
• Uber (UBER) will (RIVN)

2. WALL STREET CALLS:

• Micron (MU) downgraded to Hold from Buy at Summit Insights
• Five Below (FIVE) upgraded to Outperform from Market Perform at William Blair
• Carnival (CCL) upgraded to Overweight at Morgan Stanley
• Kinsale Capital (KNSL) downgraded to Underperform at Jefferies
• Oppenheimer (FRSH) amid challenging operating environment

3. AROUND THE WEB:

• Federal safety regulators are intensifying scrutiny of Tesla’s (TSLA) Full Self-Driving system over concerns about its performance in poor roadway conditions, WSJ says
• Apple (AAPL) is stopping “vibe coding” apps from pushing updates, citing rules on running code, The Information reports
• Samsung (SSNLF) is considering a shift toward multi-year contracts for memory chips to stabilize supply and ease concerns about a shortage and it may lengthen contracts from quarterly or annual agreements to as much as three to five years, Bloomberg says
• Meta (META) confirmed a critical security incident after an internal rogue AI agent’s actions led to the exposure of sensitive data to employees without authorization, The Information reports
• Janus Henderson (JHG) clients and staff are urging the company to reject a takeover bid from Victory Capital and to instead accept a lower-priced deal from Nelson Peltz’s Trian Fund Management and General Catalyst, WSJ says

4. MOVERS:

• DLocal (DLO) gains after announcing a $300M share buyback and announcing Q4 results
• Two Harbors (TWO) increases after receiving an unsolicited $10.70 per share acquisition proposal
• Satellogic (SATL) higher after reporting results for FY25
• Red Cat (RCAT) lower after reporting Q4 results, with EPS higher year-over-year
• Canadian Solar (CSIQ) falls in New York after reporting Q4 results and providing guidance for FY26

5. EARNINGS/GUIDANCE:

• Intuitive Machines (LUNR) reported Q4 results, with revenue missing consensus
• Aebi Schmidt (AEBI) reported Q4 results and provided guidance for FY26
• Aveanna (AVAH) reported Q4 results, with CEO Jeff Shaner commenting, “The strength and momentum of all three operating divisions can be seen in our fourth quarter results as we complete the third year of our Strategic Transformation”
• Signet Jewelers (SIG) reported Q4 results and provided guidance for Q1 and FY27
• Accenture (ACN) reported Q2 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was down 0.91%, or 422.10, to 45,803.05, the Nasdaq was down 0.86%, or 190.60, to 21,956.22, and the S&P 500 was down 0.71%, or 46.89, to 6,577.81.