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) denied a Bloomberg report on ad-supported tier pricing, according to the New York Post [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]
- Abbott (ABT) restarted infant formula production at its Michigan facility, Reuters reports [more]
- Meta Platforms (META) agrees to settle Cambridge Analytica lawsuit, WSJ reports [more]
- Becton Dickinson (BDX) was ordered to pay $4.8M over hernia-mesh claims, Bloomberg reports [more]
- BlackBerry's (BB) $600M patent sale is in doubt, Globe and Mail reports [more]
4. MOVERS:
- Azure Power (AZRE) declines 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]
- SolarEdge (SEDG) fell after the USITC instituted a probe of certain solar power optimizers and inverters [more]
5. EARNINGS/GUIDANCE:
- Pinduoduo (PDD) reported "blowout" 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:
The Dow fell 184.41, or 0.57%, to 32,098.99, the Nasdaq lost 124.04, or 1.02%, to 12,017.67, and the S&P 500 declined 27.05, or 0.67%, to 4,030.61.