MongoDB reports Q2 beat, Sompo to acquire Aspen Insurance: Morning Buzz

The major averages were fractionally higher near noon as markets await Nvidia’s highly anticipated quarterly earnings report, expected to be a key moment for the AI-led rally. Meanwhile, Treasury yields have continued to rise amid concerns around President Trump’s efforts to influence the Federal Reserve to cut interest rates.

Looking to commodities, gold prices edged higher, standing firmly above the $3,400 threshold. Meanwhile, oil prices were also fractionally higher.

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

1. STOCK NEWS:

• MongoDB (MDB) reported upbeat Q2 results and provided its outlook for Q3 and FY26
• Kohl’s (KSS) provided a “beat and raise” report for Q2
• Sompo (SMPNY) agreed to acquire Aspen Insurance (AHL) for $37.50 per share in cash
• Cracker Barrel (CBRL) said its new logo is going away, adding that its “Old Timer” logo will remain
• J.M. Smucker (SJM) reported downbeat Q1 results but raised its FY26 sales growth guidance

2. WALL STREET CALLS:

• HSBC upgraded Eli Lilly (LLY) to Hold with bear case seen having played out
• Krispy Kreme (DNUT) downgraded to Underweight at JPMorgan
• BofA upgraded Vir Biotechnology (VIR) to Buy on underappreciated HDV opportunity
• CoreWeave (CRWV) initiated with bullish view at Cantor Fitzgerald
• BofA sees EchoStar (SATS) deal weighing on SBA Communications (SBAC), prompting downgrade

3. AROUND THE WEB:

• Porsche (POAHY) has begun searching for a new CEO to replace Oliver Blume as more investors pressure him to ditch his double role and instead focus on fixing Volkswagen (VWAGY), Bloomberg reports
• Disney (DIS) has filed a lawsuit against Dish Network (SATS) claiming its new packages for Sling TV, which let users subscribe to the service for as little as 24 hours, violate the terms of its programming distribution agreements, Variety says
• Amazon (AMZN) is looking to deploy its Kuiper satellite services in Vietnam, Reuters reports
• Activist investor Plantro has urged Calian Group (CLNFF) to consider selling all or part of its business to help boost its share value, Bloomberg says
• Blackstone (BX) is planning to expand its project to build data centers in Spain’s Aragon, with an additional EUR 4.3B investment in the region, Reuters reports

4. MOVERS:

• Canada Goose (GOOS) gains in New York after CNBC reported Bain Capital, the controlling shareholder of the company, has received bids to take the company private at a valuation of $1.4B
• Serve Robotics (SERV) increases after Wedbush initiated coverage of the stock with an Outperform rating
• 3D Systems (DDD) higher after being awarded a $7.65M U.S. Air Force contract
• United States Antimony (UAMY) falls after announcing an $18M stock offering
• JD.com (JD) lower in New York after Reuters reported the company is working with two firms to form an REIT valued at over $1B

5. EARNINGS/GUIDANCE:

• Abercrombie & Fitch (ANF) reported Q2 results and narrowed its guidance for FY25
• nCino (NCNO) reported Q2 results, with EPS and revenue beating consensus
• Okta (OKTA) reported Q2 results, provided guidance for Q3, and raised its outlook for FY25
• Williams-Sonoma (WSM) reported Q2 results and raised its guidance for FY25
• MasterCraft Boat (MCFT) announced Q4 results, with CEO Brad Nelson saying the company “executed well in fiscal 2025”

INDEXES:

Near midday, the Dow was up 0.24%, or 110.88, to 45,528.95, the Nasdaq was up 0.18%, or 39.08, to 21,583.35, and the S&P 500 was up 0.21%, or 13.31, to 6,479.25.