Stocks trading in range as earnings season gets going in earnest, as Amazon shares hit a new high. Plus, Netflix (NFLX) earnings any minute now we’ll have them for you. And Amazon Prime Day happening NOW. How big will it be this year… Plus – Tesla (TSLA) shares getting hit as Elon Musk goes on a twitter attack. We’ve said it before — is the pressure getting to him?
Winners and losers
Stocks in the green include AMD (AMD) as Stifel predicts higher profitability for the chip maker citing positive sales trends in the PC market. Arconic (ARNC) as the Journal reports Apollo Global is interested in taking the aluminum products maker private, and UPS (UPS) shares higher as UBS upgraded shares to ‘buy’ citing cost and productivity drivers, as well as rival Fedex’s exposure to tariffs.
Stocks in the red include Tribune Media Company (TRCO) as FCC Chairman Ajit Pai said he had “serious concerns” about Sinclair Broadcast Group’s $3.9 billion acquisition of Tribune, and took action to block the deal. Reuters reports an FCC draft order notes “Sinclair’s actions here potentially involve deception,” and possible “misconduct.” Hasbro (HAS) as BMO Capital downgrades the toy company to Underperform as Hasbro has been plagued by declining consumer demand and a sales crunch. Tesla (TSLA) shares dropping as British diver Vernon Unsworth, who was involved in the Thai Soccer team rescue, is considering legal action against Elon Musk following his Twitter rant calling Unsworth a “pedo guy.” Unsworth had criticized Musk’s child-size submarine as having no chance to work.