PVH News & Events

The major averages had a mixed but mostly unchanged session, with the Nasdaq leading the way lower even after a strong Micron earnings report. Investors had started questioning whether the AI trade was losing momentum, but the latest chip demand signals are pushing the narrative back toward continued infrastructure expansion.Meanwhile, The Wall Street Journal reported that Iran has attacked a Singapore-flagged cargo ship traveling through the Strait of Hormuz. The attack inflicted damage on the ship's bridge but left no casualties, according to U.K. Maritime Trade Operations.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Micronreportedand provided upbeat Q4 earnings guidanceQualcommraised its FY29Multiple big banks, including JPMorgan, Goldman Sachs, and Wells Fargo, announced new capital return plans, such as higher dividends and share buybacks, after theits stress test confirms large banks are "well positioned" for a severe recession scenarioMerck KGaABio-Technefor $73 per share in cashAppleis raising prices on2. WALL STREET CALLS:Qualcommto Equal Weight at Morgan Stanley after investor day forecastsPVH Corp.to Underperform at BofA on high EMEA exposureIntelwith a Neutral at Goldman SachsBarclaysKeurig Dr Pepperon upside into separationMorgan StanleyAffirmto Equal Weight on "valuation call"3. AROUND THE WEB:Appleis planning a major shift in its Mac chip roadmap by launching a base M6 chip for entry-level Macs as early as this year while skipping M6 Pro and Max variants, Bloomberg reportsSonoswill cut an additional 3% of its workforce, Bloomberg saysKalshi is in discussions to raise new funding at an approximately $40B valuation and could close the round as early as the third quarter of this year as it expands prediction market offerings and competes more directly with major derivatives and gambling companies, FT reportsAccording to a letter from the U.S. FDA, Amgen'sChemoCentryx personnel "manipulated" study data to make Tavneos, a pill made to treat a rare blood vessel disorder, appear more effective, Bloomberg saysBlue Owl Capitalis in advanced talks to buy a minority stake in the NBA's Cleveland Cavaliers through the private equity firm's Blue Owl's Dyal HomeCourt Partners fund, Bloomberg says4. MOVERS:BlackBerryincreases in New York afterand providing guidance for Q2 and FY27Kymera Therapeuticsgains afterfor its BROADEN2 trialAtaiBeckleyhigher afterit will be added to the Russell 2000 and Russell 3000 Indexes at open on June 29Trip.comlower in New York afterand providing guidance for Q2Hive Digitalfalls after announcing a private offering ofdue 20315. EARNINGS/GUIDANCE:McCormickand backed its guidance for FY26Commercial Metals, with CEO Peter Matt commenting, "We continued to make great progress on our strategic agenda across a number of fronts"TD Synnexand provided guidance for Q3Acuity Brands, with CEO Neil Ashe commenting, "We demonstrated solid execution in our third quarter of fiscal 2026"Winnebago, with EPS and revenue missing consensusINDEXES:The Dow rose 71.72, or 0.14%, to 51,920.62, the Nasdaq lost 118.03, or 0.46%, to 25,358.60, and the S&P 500 declined 0.73, or 0.0099%%, to 7,357.49.

The major averages were mixed near noon, with only the Nasdaq in decline even after a strong Micron earnings report as investors move out of key tech stocks. Investors had started questioning whether the AI trade was losing momentum, but the latest chip demand signals are pushing the narrative back toward continued infrastructure expansion.Meanwhile, big banks are trading higher after the U.S. Federal Reserve said its annual bank stress test confirmed that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses. Several major lenders announced dividend increases or new buyback authorizations along with stress test results.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Micronreportedand provided upbeat Q4 earnings guidanceQualcommraised its FY29Multiple big banks, including JPMorgan, Goldman Sachs, and Wells Fargo, announced new capital return plans, such as higher dividends and share buybacks, after theits stress test confirms large banks are "well positioned" for a severe recession scenarioMerck KGaABio-Technefor $73 per share in cashAppleison several MacBook and iPad products2. WALL STREET CALLS:Qualcommto Equal Weight at Morgan Stanley after investor day forecastsPVH Corp.to Underperform at BofA on high EMEA exposureIntelwith a Neutral at Goldman SachsBarclaysKeurig Dr Pepperon upside into separationMorgan StanleyAffirmto Equal Weight on "valuation call"3. AROUND THE WEB:Kalshi is in discussions to raise new funding at an approximately $40B valuation and could close the round as early as the third quarter of this year as it expands prediction market offerings and competes more directly with major derivatives and gambling companies, FT reportsAccording to a letter from the U.S. FDA, Amgen'sChemoCentryx personnel "manipulated" study data to make Tavneos, a pill made to treat a rare blood vessel disorder, appear more effective, Bloomberg saysAnduril Industries is in discussions to acquire Nissan Motor'sOppama assembly plant, Reuters reportsBlue Owl Capitalis in advanced talks to buy a minority stake in the NBA's Cleveland Cavaliers through the private equity firm's Blue Owl's Dyal HomeCourt Partners fund, Bloomberg saysBain Capital is slated to acquire a majority interest in Volkswagen'sEverllence marine engine business, FT reports4. MOVERS:BlackBerryincreases in New York afterand providing guidance for Q2 and FY27Kymera Therapeuticsgains after completing enrollment for itsAtaiBeckleyhigher after announcing itthe Russell 2000 and Russell 3000 Indexes at open on June 29Trip.comlower in New York afterand providing guidance for Q2Hive Digitalfalls after announcing aof exchangeable senior notes due 20315. EARNINGS/GUIDANCE:McCormickand backed its guidance for FY26Commercial Metals, with CEO Peter Matt commenting, "We continued to make great progress on our strategic agenda across a number of fronts"TD Synnexand provided guidance for Q3Acuity Brands, with CEO Neil Ashe commenting, "We demonstrated solid execution in our third quarter of fiscal 2026"Winnebago, with EPS and revenue missing consensusINDEXES:Near midday, the Dow was up 0.78%, or 401.92, to 52,250.82, the Nasdaq was down 0.42%, or 107.79, to 25,368.84, and the S&P 500 was up 0.18%, or 13.11, to 7,371.33.