Hewlett Packard Enterprise saw a more than 5% increase in shares following an upgrade from Morgan Stanley, which highlighted an attractive risk/reward profile and undervalued earnings potential. In contrast, Verisk Analytics' shares dropped over 6.5% after a judge mandated the company to proceed with a $2.35 billion acquisition of AccuLynx, a deal previously terminated due to regulatory delays.
Apple shares fell 1% after Jefferies downgraded the stock, citing the cancellation of an anticipated all-glass iPhone, which could hinder Apple's strategy to launch premium devices amid rising memory costs. Rocket Lab's shares rose nearly 3% as investors anticipated its upcoming second-quarter earnings report, despite a significant decline from recent highs.
Berkshire Hathaway's stock increased by 0.5% after reporting a 16% growth in operating earnings for the second quarter, although insurance income saw a 9% decline. Intel's shares fell 3% after announcing a $15 billion common stock offering to support growth and maintain a strong balance sheet.
GameStop's shares rose over 1.5% amid reports of the company reconsidering its $56 billion bid for eBay, which was previously rejected. Archer Aviation's stock surged following its announcement of acquiring three Boeing subsidiaries, with Boeing also taking an undisclosed stake, a move aimed at diversifying revenues and scaling operations