Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Microsoft (MSFT) cut its Q4 earnings and revenue guidance citing unfavorable foreign exchange rate movement [more]
• HP Enterprise (HPE) reported downbeat Q2 earnings and revenue [more]
• Ciena (CIEN) also reported lower-than-expected Q2 results [more]
• Ford (F) reported a 4.5% year-over-year decline in May U.S. vehicle sales and plans for $3.7B of investments in manufacturing facilities across Ohio, Michigan and Missouri [more]
• Chewy (CHWY) reported upbeat Q1 earnings [more]

2. WALL STREET CALLS:

• Pinterest (PINS) and Snap (SNAP) were both downgraded to Neutral at Piper Sandler [more]
• Twilio (TWLO) downgraded to Equal Weight from Overweight at Barclays [more]
• Paramount (PARA) downgraded to Underperform from Outperform at Wolfe Research [more]
• Oppenheimer upgrades SolarEdge (SEDG) and Wolfspeed (WOLF) to Outperform [more]
• Starry (STRY) downgraded to Neutral from Buy at Goldman Sachs [more]

3. AROUND THE WEB:

• Wolfpack is short ZoomInfo (ZI), questioning the "legitimacy and legality" of its practices [more]
• Bear Cave said in a short report that it is "doubtful" about RCI Hospitality (RICK) [more]
• Amazon (AMZN) will shutter its Kindle bookstore in China in 2023, WSJ reports [more]
• Apple (AAPL) will unveil major changes to its iPad software next week, Bloomberg reports [more]
• Local Bounti (LOCL) was named a short by Helios Capital [more]

4. MOVERS:

• Repare Therapeutics (RPTX) higher after announcing global license and collaboration agreement with Roche (RHHBY) for camonsertib [more]
• MongoDB (MDB) higher after reporting quarterly results [more]
• UiPath (PATH) rises after providing FY23 revenue guidance [more]
• Callon Petroleum (CPE) lower after announcing a 6.5M share offering [more]
• Moderna (MRNA) slips after announcing an amended COVID-19 supply agreement with the European Commission [more]

5. EARNINGS/GUIDANCE:

• GameStop (GME) reported better-than-expected Q1 revenue [more]
• NetApp (NTAP) delivered earnings upside in fiscal Q4 report [more]
• Hormel (HRL) reported upbeat Q2 results but cut its FY22 earnings guidance [more]
• PureStorage (PSTG) provided a "beat and raise" report for Q1 [more]
• Corning (GLW) backed its guidance for Q2 and FY22 [more]

INDEXES:

The Dow rose 435.05, or 1.33%, to 33,248.28, the Nasdaq gained 322.44, or 2.69%, to 12,316.90, and the S&P 500 advanced 75.59, or 1.84%, to 4,176.82.