Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Twitter (TWTR) adopted a "poison pill" limited duration shareholder rights plan while the New York Post reported that Tesla's (TSLA) Elon Musk is considering bringing in partners for his bid to acquire the social media company [more]
- Bank of America (BAC) reported upbeat Q1 results [more]
- Synchrony (SYF) reported better-than-expected Q1 earnings, announced a $2.8B share buyback, and raised its quarterly dividend 5% [more]
- Natus Medical (NTUS) agreed to be acquired by ArchiMed Group for $33.50 per share [more]
- DiDi (DIDI) will hold a shareholder meeting on May 23 to vote on U.S. delisting plans [more]
2. WALL STREET CALLS:
- Qualcomm (QCOM) downgraded to Neutral from Outperform at SMBC Nikko [more]
- Wendy's (WEN) downgraded to Market Perform from Outperform at BMO Capital [more]
- Sirius XM (SIRI) downgraded to Underweight at Morgan Stanley amid auto headwinds [more]
- Biogen (BIIB) upgraded to Overweight from Equal Weight at Wells Fargo [more]
- UBS upgraded Delta Air Lines (DAL) to Buy, downgraded United Airlines (UAL) to Neutral [more]
3. AROUND THE WEB:
- CEL-SCI (CVM) CEO Geert Kersten could be in trouble for a private call on the company's cancer drug, STAT says [more]
- A judge has ruled that Elon Musk's "funding secured" tweets were false, Reuters reports [more]
- Intel (INTC) may outsource PC chipsets processing to OSATs in Taiwan, DigiTimes reports [more]
- Apple (AAPL) workers at a flagship retail store in NYC have taken steps to unionize, Axios reports [more]
- American Express (AXP) is being investigated by the IRS over a tax break sales pitch, WSJ reports [more]
4. MOVERS:
- Casa Systems (CASA) soars after Verizon (VZ) awarded the company a multi-year contract and acquired a 9.9% stake [more]
- Aterian (ATER) rises after appointing Anton von Rueden as COO [more]
- Nektar (NKTR) falls after ending the development program for bempegaldesleukin in combination with Opdivo [more]
- TG Therapeutics (TGTX) declines after announcing the company has voluntarily withdrawn the pending BLA and sNDA for the combination of ublituximab and Ukoniq and pulled Ukoniq from the market [more]
- Rivian (RIVN) slips after WSJ reported the company’s CEO warned a looming EV battery shortage could be worse than the chip shortage [more]
5. EARNINGS/GUIDANCE:
- UpHealth (UPH) reported upbeat Q4 earnings [more]
- Charles Schwab (SCHW) reported lower-than-expected Q1 earnings and revenue [more]
- BNY Mellon (BK) reported mixed Q1 results [more]
- Rada Electronic (RADA) reiterated its revenue goal for over $140M for 2022 [more]
- Safe-T (SFET) reported a year-over-year increase in Q1 revenue [more]
INDEXES:
Near midday, the Dow was down 95.54, or 0.28%, to 34,355.69, the Nasdaq was down 58.79, or 0.44%, to 13,292.29, and the S&P 500 was down 10.90, or 0.25%, to 4,381.69.