Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Boston Scientific (BSX) agreed to acquire Apollo Endosurgery (APEN) for $10 per share [more]
- Churchill Downs (CHDN) and DraftKings (DKNG) announced an agreement that will bring pari-mutuel wagering on horse racing to DraftKings [more]
- Royal Bank of Canada (RY) will acquire HSBC Canada (HSBC) for C$13.5B in cash [more]
- UnitedHealth (UNH) reiterated its FY22 earnings guidance and provided an outlook for FY23 [more]
- Bilibili (BILI) reported upbeat Q3 results [more]
2. WALL STREET CALLS:
- UPS (UPS) upgraded to Buy at Deutsche Bank on productivity initiatives [more]
- Jefferies downgrades Generac (GNRC) to Underperform on "game changing" disruption from electric vehicle bidirectional charging [more]
- Darden (DRI) downgraded to Neutral after outperformance at Baird [more]
- Roku (ROKU) downgraded to Sector Weight from Overweight at KeyBanc [more]
- Redburn initiated coverage of American Express (AXP) and MasterCard (MA) with Neutral ratings and Visa (V) with a Sell rating [more]
3. AROUND THE WEB:
- President Biden intends to call on Congress to take action to prevent a rail shutdown, Washington Post reports [more]
- AMC Networks (AMCX) is planning large-scale layoffs and operation cutbacks, WSJ reports [more]
- Yahoo (APO) eyes sports betting and retail stock trading, Axios reports [more]
- Spruce Point issued a short report on Saputo (SAPIF) [more]
- Disney (DIS) CEO says profitable streaming is a priority, Reuters reports [more]
4. MOVERS:
- Kanzhun (BZ) gains in New York after reporting quarterly results [more]
- Pinduoduo (PDD) higher in New York after Macquarie, Citi, HSBC, Morgan Stanley and Benchmark each raised their respective price targets on the stock [more]
- Sabre (SABR) higher after being named to join the S&P 600 [more]
- VF Corp. (VFC) declines after JPMorgan lowered the firm's price target on the stock and kept an Underweight rating on the shares [more]
- Visa (V) falls after Redburn initiated a Sell rating on the stock [more]
5. EARNINGS/GUIDANCE:
- Hibbett (HIBB) reported downbeat Q3 results [more]
- Azek (AZEK) reported mixed Q4 results [more]
- Cerence (CRNC) reported better-than-expected Q4 results [more]
- Joyy (YY) reported lower-than-expected Q3 revenue [more]
- Scotiabank (BNS) reported a year-over-year decline in Q4 adjusted EPS [more]
INDEXES:
Near midday, the Dow was down 92.08, or 0.27%, to 33,757.38, the Nasdaq was down 57.22, or 0.52%, to 10,992.28, and the S&P 500 was down 13.38, or 0.34%, to 3,950.56.
