Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Oracle (ORCL) reported lower than expected Q3 sales and earnings [more]
- Rivian Automotive (RIVN) reported a wider than expected Q4 loss and said it is exploring ways to further expand its Amazon (AMZN) partnership [more]
- Applied Materials (AMAT) announced a new $6B share buyback and raised its quarterly dividend 8.3% [more]
- AT&T (T) reiterated its FY22 and FY23 earnings outlook as part of a strategy update ahead of the Discovery (DISCA) transaction [more]
- Disney (DIS) is pausing all political donations in the state of Florida pending a review following the state's proposed "Don't Say Gay" bill [more]
2. WALL STREET CALLS:
- Oracle (ORCL) downgraded to Underweight from Neutral at Piper Sandler [more]
- DocuSign (DOCU) was downgraded to Neutral at Baird and to Perform at Oppenheimer after the company gave fiscal 2023 guidance below expectations [more]
- Amazon (AMZN), Meta Platforms (FB) and Alphabet (GOOGL) were among the internet names initiated with Buy ratings as a new analyst rolled out coverage at Deutsche Bank [more]
- Deutsche Bank (DB) upgraded to Neutral from Sell at Citi [more]
- Chevron (CVX) downgraded to Underweight from Neutral at JPMorgan [more]
3. AROUND THE WEB:
- Didi (DIDI) has suspended its Hong Kong IPO plans, Bloomberg reports [more]
- Toyota (TM) will scale back domestic production in the April-June period, Reuters reports [more]
- CVS (CVS) CEO Karen Lynch is removing several executives following a probe of complaint handling, WSJ reports [more]
- Hindenburg said that Natera's (NTRA) response to its short report "ignored many of the major issues" [more]
- Chobani (CHO) is delaying its IPO as top executives depart, WSJ says [more]
4. MOVERS:
- Pearson (PSO) jumps after saying it rejected "preliminary and highly conditional" proposals from Apollo (APO) [more]
- Limelight Networks (LLNW) rises after Raymond James analyst Frank Louthan raised his price target on the shares [more]
- AirSculpt Technologies (AIRS), LegalZoom (LZ), and Shoals Technologies (SHLS) higher after reporting quarterly results [more]
- Tilly's (TLYS) falls after reporting downbeat quarterly results and giving lower than expected Q1 earnings guidance [more]
- Genius Brands (GENI) and Exela Technologies (XELA) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- DocuSign (DOCU) reported better than expected Q4 revenue and billings, but gave FY23 revenue guidance below consensus [more]
- Ulta Beauty (ULTA) reported upbeat quarterly results and announced a new $2B stock buyback [more]
- WeWork (WE) reported a quarter-over-quarter increase in revenue [more]
- The Buckle (BKE) reported upbeat Q4 earnings and revenue [more]
- Blink Charging (BLNK) reported what it called "record fourth quarter and full year revenue" [more]
INDEXES:
The Dow fell 229.88, or 0.69%, to 32,944.19, the Nasdaq lost 286.15, or 2.18%, to 12,843.81, and the S&P 500 declined 55.21, or 1.30%, to 4,204.31.