Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Starbucks (SBUX) has named Laxman Narasimhan as its next CEO [more]
- Lululemon (LULU) provided a "beat and raise" report for Q2 [more]
- Broadcom (AVGO) reported upbeat Q3 earnings and revenue [more]
- Ford (F) reported August U.S. sales rose 27.3% year-over-year [more]
- Chobani (CHO) filed to withdraw its previously planned initial public offering [more]
2. WALL STREET CALLS:
- Salesforce (CRM) upgraded to Neutral at Guggenheim following 20% decline [more]
- Nvidia (NVDA) downgraded to Neutral from Outperform at Daiwa [more]
- Dow (DOW) and LyondellBasell (LYB) both cut to Neutral from Overweight at JPMorgan [more]
- Piper boosts Tesla (TSLA) target, but warns shares may sell off in coming weeks [more]
- Atlantic Equities initiated coverage of Fortinet (FTNT) with an Overweight rating while also starting coverage of Crowdstrike (CRWD) and Palo Alto Networks (PANW) with Neutral ratings [more]
3. AROUND THE WEB:
- Shell (SHEL) CEO Ben van Beurden will step down in 2023, Reuters reports [more]
- Hollysys (HOLI) management will lead a $1.8B take-private deal, Reuters says [more]
- Pinduoduo (PDD) has launched a U.S. e-commerce website called Temu, CNBC reports [more]
- Meta (META), Qualcomm (QCOM) to partner on virtual reality chips, Reuters reports [more]
- Aurora Innovation (AUR) CEO Chris Urmson floated the idea of a sale to Apple (AAPL) or Microsoft (MSFT) in a memo accidentally sent to staff, Bloomberg reports [more]
4. MOVERS:
- Kohl's (KSS) gains after Reuters said Oak Street offered to buy as much as $2B of the company's property [more]
- Smartsheet (SMAR) higher after reporting quarterly results [more]
- Okta (OKTA) increases after Guggenheim upgraded the stock to Neutral from Sell [more]
- Senseonics (SENS) declines after announcing CFO Nick Tressler will transition from his position [more]
- Amylyx (AMLX) sinks after the FDA posted briefing documents for an upcoming AMX0035 panel meeting [more]
5. EARNINGS:
- Newegg (NEGG) provided Q3 revenue guidance [more]
- Express (EXPR) cut its FY22 earnings guidance [more]
- HashiCorp (HCP) reported upbeat Q2 results [more]
- Ooma (OOMA) provided a "beat and raise" report for Q2 [more]
- PagerDuty (PD) also issued a "beat and raise" report for Q2 [more]
INDEXES:
The Dow fell 337.98, or 1.07%, to 31,318.44, the Nasdaq lost 154.26, or 1.31%, to 11,630.86, and the S&P 500 declined 42.59, or 1.07%, to 3,924.26.