Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Walmart (WMT) is seeking to buy outstanding shares of Massmart for ZAR62 per share [more]
- Honda (HMC) and LG Energy will construct an EV battery plant in the U.S., Nikkei reports [more]
- Grindrod Shipping (GRIN) has entered exclusive talks with Taylor Maritime on a $26 per share proposal [more]
- Netflix (NFLX) is mulling a $7 to $9 monthly price for its soon-to-debut ad-supported service, Bloomberg says [more]
- Catalent (CTLT) reported mixed Q4 results [more]
2. WALL STREET CALLS:
- KeyBanc downgrades trio of chemical stocks into "recession" level earnings [more]
- Aerie Pharmaceuticals (AERI) downgraded to Neutral from Buy at Citi [more]
- Consumer Edge downgrades Hain Celestial (HAIN) on cost pressures, trade down concerns [more]
- SVB Securities downgrades Molecular Partners (MOLN) to Market Perform with $8 target [more]
- Argus upgrades AstraZeneca (AZN) to Buy from Hold [more]
3. AROUND THE WEB:
- EU regulators won't appeal ruling scrapping Qualcomm (QCOM) fine, Reuters says [more]
- Disney (DIS) parks make record sales and profits despite limited attendance, WSJ reports [more]
- Abbott (ABT) restarted infant formula production at its Michigan facility, Reuters reports [more]
- Deals that Missfresh (MF) struck before its IPO become the focus of investor suits, FT reports [more]
- Meta Platforms (META) agrees to settle Cambridge Analytica lawsuit, WSJ reports [more]
4. MOVERS:
- Azure Power (AZRE) falls in New York after announcing the resignation of its CEO [more]
- Tellurian (TELL) lower after announcing an offering of senior secured notes [more]
- Bristol-Myers (BMY) slides after presenting results from its Phase 2 AXIOMATIC-SSP study of milvexian [more]
- Morgan Stanley (MS) drops after Bloomberg said the company put another executive handling block trades on leave [more]
- 3M (MMM) continues decline from Friday after company's bankruptcy tactic failed to stop combat earplug suits from moving to trial [more]
5. EARNINGS/GUIDANCE:
- Pinduoduo (PDD) reported upbeat Q2 results [more]
- SelectQuote (SLQT) reported downbeat Q4 revenue [more]
- Napco Security (NSSC) reported better-than-expected Q4 results [more]
- Portage Biotech (PRTG) reported downbeat Q2 earnings [more]
- H World (HTH) reported downbeat Q2 results [more]
INDEXES:
Near midday, the Dow was down 88.38, or 0.27%, to 32,195.02, the Nasdaq was down 88.28, or 0.73%, to 12,053.43, and the S&P 500 was down 14.45, or 0.36%, to 4,043.21.