Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Netflix (NFLX) sinks after lower-than-expected paid net additions guidance prompts downgrades across Wall Street [more]
- Peloton (PTON) reported preliminary results for its second quarter as CEO John Foley said rumors of halting all bike and treadmill output are false [more]
- Intel (INTC) will initially invest $20B in two new chip factories in Ohio [more]
- CSX (CSX) reported upbeat Q4 earnings and revenue [more]
- Intuitive Surgical (ISRG) also reported upbeat Q4 results, but traded down on its guidance [more]
2. WALL STREET CALLS:
- Netflix (NFLX) downgraded by no less than nine Street research firms after last night's quarterly report [more]
- Peloton (PTON) upgraded to Buy from Hold at Stifel [more]
- Moderna (MRNA) upgraded to Neutral at BofA on more favorable risk-reward [more]
- Under Armour (UAA) upgraded to Buy from Neutral at Citi [more]
- CureVac (CVAC) cut to Underperform at BofA on limited catalyst flow this year [more]
3. AROUND THE WEB:
- Airbus (EADSY) rescinded a Qatar Airways order for 50 A321 aircraft, Reuters reports [more]
- Meta (MVRS;FB) is working on allowing users to create and sell NFTs, FT reports [more]
- Chevron (CVX) plans to exit its Yadana gas joint venture in Myanmar, Reuters reports [more]
- A KKR (KKR) SPAC is weighing a deal for PetSmart valued at $14B, Bloomberg says [more]
- Activision's (ATVI) "Call of Duty" franchises could move on from yearly releases following the Microsoft (MSFT) acquisition, Bloomberg reports [more]
4. MOVERS:
- Vistas Media Acquisition (VMAC) jumps after its shareholders approved a business combination with Anghami [more]
- WEC Energy (WEC) rises after increasing its quarterly dividend [more]
- Limelight Networks (LLNW) higher after reporting quarterly results [more]
- Coinbase (COIN) slips as bitcoin extends losses to five-month lows [more]
- SunPower (SPWR) lower after guiding Q4 adjusted EBITDA at the low end of its prior guidance range [more]
5. EARNINGS/GUIDANCE:
- Ally Financial (ALLY) reported upbeat Q4 results [more]
- Ecolab (ECL) provided downbeat Q4 earnings guidance [more]
- Huntington Bancshares (HBAN) reported upbeat Q4 earnings [more]
- IHS Markit (INFO) reported better-than-expected Q4 earnings and revenue [more]
- PPG (PPG) reported upbeat Q4 results [more]
INDEXES:
Near midday, the Dow was down 52.82, or 0.15%, to 34,662.57, the Nasdaq was down 139.22, or 0.98%, to 14,014.80, and the S&P 500 was down 24.77, or 0.55%, to 4,457.96.