Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- BofA analyst Wamsi Mohan downgraded Apple (AAPL) to Neutral from Buy, citing outperformance year-to-date, while Rosenblatt's Barton Crockett upgraded the stock to Buy, citing "substantial interest" from survey respondents in the iPhone 14 Pro Max [more]
- Williams (WMB) said it sees FY22 adjusted EBITDA near high end of prior $6.1B-$6.4B guidance [more]
- Bed Bath & Beyond (BBBY) reported downbeat Q2 results and maintained its FY22 outlook [more]
- Intuit (INTU) reiterated its Q1 and FY23 earnings and revenue guidance [more]
- New York State will require all new passenger vehicles to be zero emissions by 2035 [more]
2. WALL STREET CALLS:
- Coinbase (COIN) initiated with an Underweight at Wells Fargo [more]
- First Solar (FSLR) upgraded to Outperform at Evercore on IRA benefits [more]
- Wolfe upgrades Charter (CHTR) to Peer Perform, ups Cable sector rating to Market Weight [more]
- Citi double downgraded Sunlight Financial (SUNL) to Sell while Roth Capital cut its rating on the stock to Neutral [more]
- Wix.com (WIX) upgraded to Outperform from Perform at Oppenheimer [more]
3. AROUND THE WEB:
- Warner Bros. Discovery (WBD) CEO David Zaslav said the company is not for sale, Deadline reports [more]
- Salesforce (CRM) has quietly become a giant government contractor, Insider reports [more]
- A lawsuit has been filed against BetMGM (MGM) over glitches, WSJ says [more]
- Meta (META) CEO Zuckerberg announced a hiring freeze at an employee meeting, Bloomberg reports [more]
- SoftBank (SFTBY) is cutting 30% of its Vision Fund workforce, FT reports [more]
4. MOVERS:
- Neogen (NEOG) higher after launching new genomic management technology [more]
- Rite Aid (RAD) lower after reporting quarterly results and cutting FY23 guidance [more]
- Altus Power (AMPS) decreases after announcing a 7M share offering [more]
- Nordic American Tankers (NAT) declines in New York after announcing the sale of Suezmax tanker [more]
- Olaplex Holdings (OLPX) declines after Piper Sandler downgraded the stock to Neutral with a price target of $12, down from $19 [more]
5. EARNINGS/GUIDANCE:
- Vail Resorts (MTN) reported upbeat Q4 results [more]
- CarMax (KMX) reported downbeat Q2 results [more]
- Vulcan Materials (VMC) raised its adjusted EBITDA target [more]
- Aterian (ATER) provided upbeat Q3 revenue guidance [more]
- Allegiant Travel (ALGT) lowered its Q3 revenue view, citing the impact of Hurricane Ian [more]
INDEXES:
The Dow fell 458.13, or 1.54%, to 29,225.61, the Nasdaq lost 314.13, or 2.84%, to 10,737.51, and the S&P 500 declined 78.57, or 2.11%, to 3,640.47.