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CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Josh Lipton dives into the rally in semiconductor stocks and runs through the favorites of some Wall Street analysts.

(Adds details, quotes from conference call)

Shares of Wells Fargo & Co. pared earlier losses Tuesday, after the bank reported a wider-than-expected second-quarter loss and said it was slashing its...

These are the stocks posting the largest moves in midday trading.

Wells Fargo swung to a big loss in the second quarter, forcing it to set aside billions of dollars to cover possible loan losses ahead.

Stock index futures traded higher ahead of big bank earnings, plus stocks to watch today in Tuesday's Opening Bell on Money & Markets.

Wells Fargo & Co posted its first quarterly loss since the 2008 financial crash on Tuesday as the coronavirus crisis forced it to set aside $9.57 billion to cover potential loan losses and slash its dividend, derailing efforts to recover from a sales scandal.

Wells Fargo & Co swung to a second-quarter loss as the coronavirus set back the bank's progress in recovering after a series of misselling scandals, forcing it to set aside billions of dollars to cover potential loan losses and slash its dividend.

Stocks are set to open higher Tuesday as Wall Street evaluates earnings from major U.S. banks.

Wells Fargo posted its first quarterly loss since the financial crisis on rising provisions for defaults tied to the coronavirus pandemic.

JPMorgan Chase & Co on Tuesday set aside about $10.5 billion in reserves to cover a wave of potential defaults in the aftermath of the COVID-19 pandemic as the largest U.S. bank reported a smaller-than-expected 51% drop in second-quarter profit.

/PRNewswire/ -- HHS Technology Group, LLC (HTG) announced today that it is collaborating with Medversant Technologies to integrate Medversant's ProviderIQ...

/PRNewswire/ -- Today FOX Sports announced it is working with Google Cloud to automate one of the most manual processes in media and entertainment -- logging,...

/PRNewswire/ - Fiix, a Toronto-based asset management software provider, today announced the launch of Fiix Foresight, the first and only AI engine for...

/PRNewswire/ -- Watkyn, a team of leading authorities on cloud database application development, today announced the launch of ContactPath. The first of its...

/PRNewswire/ - Bridgit, a leading construction workforce planning software company, today announced it has raised a $7 million USD strategic investment led by...

/PRNewswire/ - LoginID Inc. has announced new partnerships as part of its launch of FIDO-as-a-Service, for small and medium sized enterprises. This follows on...

/PRNewswire/ -- Today Booking.com, one of the world's leading digital travel platforms, and HERE Mobility, the world's first neutral and open global mobility...

/PRNewswire/ -- Eagle Eye Solutions, a global marketing technology company that helps retailers create one-to-one customer connections, and Ecrebo Inc, a...

Maxymiser Review: powerful, cloud-based tools that support website and mobile app testing for improved marketing programs

/PRNewswire/ -- ExtenData, a supply chain visibility and tracking solution provider, announces the launch of the ground-breaking thermal label supplies...

/PRNewswire/ -- Swyfft, who provides fast and friendly homeowners insurance through their patented analytical methods and unique data sources, has pegged...

/PRNewswire/ -- FirstLight, a leading provider of fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers...

/PRNewswire/ -- Automotive Exhaust Emission Control Device Market Research Report by Device Type (Diesel Oxidation Catalyst, Diesel Particulate Filter,...

/PRNewswire/ -- The "Blow Molded Plastics Market Size, Share & Trends Analysis Report By Technology (Extrusion, Injection, Stretch), By Product (Polypropylene,...

/PRNewswire/ -- Superabsorbent polymers find applications in wide range of industries that need superabsorbent characteristics, notably in medical, personal...

/PRNewswire/ -- The "Biotech Ingredients Market Size, Share & Trends Analysis Report By Flavors (By Source, By Type, By Application), By Fragrances (Fine...

/PRNewswire/ -- Allied Market Research published a report, titled, "Sports Gun Market by Gun Type (Rifle, Pistol, and Shotgun), Application (Competitive...

/PRNewswire/ -- Allied Market Research published a report, titled,"Pea Starch Market by Type (Organic/Non-GMO and Conventional) and Application (Food &...

/PRNewswire/ -- Allied Market Research published a report, titled, "Mobile Security Market by Operating System (iOS, Android, and Others), End User (Individual...

/PRNewswire/ -- According to the new research report the "Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media Type,...

/PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Acoustic Engineering Services Market by Offering (Physical Acoustic Testing and...

/PRNewswire/ -- Future Market Insights' recent report on the electric motors market pegs the market's CAGR at 4.8% for the assessment period 2020-2030. A...

/PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global work light market report. The global work light...

/PRNewswire/ -- Allied Market Research published a report, titled, "Thermochromic Pigments Market by Type (Reversible Thermochromic Pigments, Irreversible...

Wells Fargo, Citigroup and JPMorgan Chase set aside about $28 billion for potential bad loans.

Investors can see how much things have improved from pandemic-induced lows in March and April and how far things have to go to get back to pre-Covid levels.

Equity investors are no longer losing sleep over the short-term hit to company earnings from coronavirus lockdowns, instead they are looking for early evidence to support the V-shaped recovery narrative that has lifted stocks out of their mid-March crash.

The banks more pessimistic outlooks come as millions of people remain out of work, thousands of small businesses close their doors forever and some states begin to shutdown for a second time to contain the spread of the coronavirus.

* Second quarter sales at 4.324 bln euros

Citigroup Inc on Tuesday posted a 73% plunge in quarterly profit, as the bank set aside nearly $8 billion to brace itself for a potential surge in loan defaults stemming from the COVID-19 pandemic.

Citigroup Inc beat analysts' estimates for profit in the second quarter as its trading desks cashed in on the market volatility caused by the coronavirus outbreak, allowing it to set aside $5.6 billion for a potential surge in loan defaults.

Citigroup Inc reported a nearly 73% plunge in quarterly profit on Tuesday as the bank set aside $5.6 billion to brace itself for a potential surge in loan defaults stemming from the coronavirus outbreak.

The megabanks stock is rising even though earnings fell about 50% year over year.

CEO Ed Bastian said in a press release that the company isnt expecting a sustainable recovery for another two years.

The spread ofthe novel coronavirusaround the globe and the resulting economic slowdown have pummeled the banking industry and raised concerns about loan defaults by consumers and big businesses alike.

JPMorgan Chase & Co beat Wall Street estimates for profit in the second quarter as trading revenue surged, while setting aside a record $10.5 billion to brace for rising defaults as the United States slides into one of the worst recessions in decades.

If the Financial sector is one of the best barometers of investor sentiment regarding the economy, then it seems were far from out of the woods. Thats despite the broader market rally and strong trading activity the big banks likely pulled in this last quarter.

Citigroup is set to report its latest quarterly numbers later on Tuesday as the corporate earnings season kicks off.

Despite a 106% rise since the March low of this year, at the current price of around $9 per share we believe SunPower stock (NASDAQ: SPWR) has reached its near term potential. SPWR stock has rallied from $4.50 to $9 off its recent bottom compared to the S&P which moved 42%...

/PRNewswire/ -- Google Cloud today announced two new security offerings, Confidential VMs, the first product in its Confidential Computing portfolio, and...

Google Cloud introduced its Confidential Computing portfolio with Confidential VM, which allows data to remain encrypted while it's being processed.

With investments in cloud growing, theres no better time to implement cost controls to optimize cloud resources and reduce waste.

With its latest offering, Google Cloud is expanding the definition of what multi-cloud can be by allowing multiple datasets across multiple cloud platforms to be queried and analyzed from a single point of control.

Google Cloud has matured and become critical to large enterprises, but it's not like Microsoft Azure and AWS are standing still.

Confidential VMs and Assured Workloads for Government are both designed for highly regulated and security-sensitive industries.

The platform allows users to directly access data across Google Cloud, AWS and Azure without having to move or copy datasets.

Cloud provider's API integrates with point-of-sale terminals to help order takers customize calls and ensure reliability.

How you can equip your employees, and IT teams with the right technology to defend your business against cyber attacks as you return to work.

As we enter a new phase of economic recovery following Covid-19, a renewed technological rat race is expected between competing cloud providers posing advantages and disadvantages for businesses.

Mizuho Securities analyst James Lee asserts that new contract activity for cloud computing has recovered to 85% of pre-Covid levels, and should accelerate into the second half.

The UK has committed itself to cloud migration and among the global providers, a founder-run British company has been signed up as a strategic provider. Does this matter?