Top 10 Things to Watch on Friday, July 26: Market Updates, Earnings Reports, and More

3. 3M posted a solid quarter with top and bottom line beats, causing the stock to jump more than 6.5%. The industrial conglomerate raised its full-year outlook, with segments such as Safety & Industrial, Transportation & Electronics, and Consumer showing mixed results. This comes after other industrial names like Honeywell and Dover reported earnings this week with varying outcomes for their stocks.

4. Colgate-Palmolive also beat on both top and bottom lines, with organic sales growth of 9%. The consumer products giant maintained its full-year net sales outlook, showing confidence in its performance.

5. Bristol Myers reported top and bottom line beats as well, raising its full-year adjusted EPS outlook range. The drugmaker’s positive results indicate a strong performance for the rest of the year.

6. On the flip side, Dexcom shares plummeted more than 35% after missing revenue expectations and cutting its full-year outlook. The medical device company cited market share loss and execution issues for the shortfall, while competitors like Abbott Laboratories may have gained ground in the quarter.

7. Skechers raised its full-year guidance and announced a $1 billion stock buyback, leading to a nearly 3% increase in its stock price. This move shows the company’s confidence in its future performance.

8. Deutsche Bank upgraded Lockheed Martin to a buy rating and raised its price target based on strong second-quarter results, indicating a solid second half of the year. However, the analysts downgraded L3Harris due to valuation concerns.

9. In the pharmaceutical sector, the new Alzheimer’s treatment from Biogen and Eisai was rejected by EU regulators, while Novo Nordisk’s Wegovy received EU backing for reducing heart risks. Eli Lilly, a competitor in both areas, continues to develop competing drugs.

10. Deckers Outdoor saw a significant increase of more than 12% after reporting better-than-expected results and raising its full-year outlook, driven by the success of its brands Hoka and UGG. This positive performance bodes well for the company’s future prospects.

Overall, Friday’s market movements and earnings reports provide valuable insights into the performance of various sectors and companies, offering investors key information to consider in their decision-making process.