On this episode of Stock Movers:
- Verizon (VZ) is getting a lift this morning after the company raised its profit outlook. The company posted second-quarter revenue that surpassed analysts’ estimates, with operating revenue of $34.5 billion, up 5.2% from a year earlier. Verizon raised its profit outlook, citing "favorable tax reform" and strong performance, with Chief Executive Officer Hans Vestberg saying Verizon has "momentum and a clear path forward."
- Stellantis (STLA) is fell to a three-month low after the maker of Fiat, Citroen and Jeep autos reported a preliminary first-half loss of €2.3 billion, due to restructuring expenses, waning sales and the impact of US tariffs. Bloomberg Intelligence analysts said the loss may reflect new CEO Antonio Filosa seeking to get all the bad news out of the way, to provide a low base to build from.
- Domino's (DPZ) is higher as the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations.
- Block (XYZ) is surging as it's set to join the S&P 500 index, a milestone that underscores the growing influence of digital payments and crypto in mainstream finance. The fintech firm will replace Hess Corp. in the benchmark, following Chevron Corp.’s acquisition of the energy producer.