Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Moderna (MRNA) said its bivalent COVID booster candidate showed antibody response against omicron subvariants [more]
- ProFrac Holding (PFHC) agreed to acquire U.S. Well Services (USWS) in a stock-for-stock transaction [more]
- OneWater Marine (ONEW) agreed to acquire Ocean Bio-Chem (OBCI) for $13.08 per share in cash [more]
- La-Z-Boy (LZB) reported better-than-expected Q4 results and provided upbeat Q1 revenue guidance [more]
- The FDA will order Juul to take e-cigarettes off the U.S. market, WSJ reports [more]
2. WALL STREET CALLS:
- Nike (NKE) downgraded to Neutral from Buy at Seaport Global [more]
- Kraft Heinz (KHC) upgraded to Outperform from Market Perform at BMO Capital [more]
- Airbnb (ABNB) downgraded to Market Perform from Outperform at JMP Securities [more]
- Credit Suisse downgrades Dow Inc. (DOW) to Underperform, lowers price target to $49 [more]
- Coinbase (COIN) trading patterns show potential "crypto fatigue," says Mizuho [more]
3. AROUND THE WEB:
- Tesla (TSLA) will suspend most of its Shanghai output for two weeks for a site upgrade, Reuters reports [more]
- Microsoft (MSFT) plans to do more to slow Russian propaganda, Washington Post says [more]
- JPMorgan (JPM) is laying off hundreds in its mortgage business amid rising mortgage rates, Bloomberg says [more]
- Toshiba (TOSYY) bidders could offer up to $51.41 per share in a buyout, Reuters reports [more]
- Spruce Point is short Generac (GNRC), sees 40%-50% downside risk [more]
4. MOVERS:
- Shopify (SHOP) increases in New York after TechCrunch reported the company is partnering with Twitter (TWTR) to bring its products to Twitter Shopping [more]
- Ambarella (AMBA) higher after announcing a partnership with Inceptio Technology on Level 3 automated driving [more]
- Crispr (CRSP) lower after Stifel and Chardan lowered their respective price targets on the stock [more]
- ArcelorMittal (MT) declines in New York after JPMorgan downgraded the stock to Neutral with a price target of EUR 32.50, down from EUR 48 [more]
- APA Corp. (APA) falls after Raymond James removed the company from its Analyst Current Favorites list [more]
5. EARNINGS/GUIDANCE:
- Korn/Ferry (KFY) reported upbeat Q4 results [more]
- Winnebago (WGO) reported better-than-expected Q3 results [more]
- Central Garden & Pet (CENT) said it was "disappointing" to not deliver on its original FY22 EPS outlook [more]
- Chefs' Warehouse (CHEF) raised its FY22 revenue guidance [more]
- Sonoco (SON) increased its Q2 base earnings outlook [more]
INDEXES:
Near midday, the Dow was down 21.08, or 0.07%, to 30,509.17, the Nasdaq was up 13.57, or 0.12%, to 11,082.87, and the S&P 500 was down 0.26, or 0.01%, to 3,764.53.