Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Salesforce (CRM) announced a restructuring and a 10% workforce reduction [more]
- China paused chip industry investments as COVID resurges, Bloomberg reports [more]
- GE Healthcare (GEHC) completed its spin-off from GE (GE) [more]
- Perion Network (PERI) reported upbeat preliminary Q4 revenue [more]
- Ireland's DPC fines Meta (META) EUR390M for breaches of the GDPR [more]
2. WALL STREET CALLS:
- Microsoft (MSFT) downgraded to Neutral from Buy at UBS [more]
- Target (TGT) downgraded to Equal Weight from Overweight at Wells Fargo [more]
- Boston Beer (SAM) downgraded to Underperform from Hold at Jefferies [more]
- Barclays upgrades Veeva (VEEV) to Overweight as defensive pick [more]
- Pfizer (PFE) downgraded to Neutral, Merck (MRK) upgraded to Buy at BofA [more]
3. AROUND THE WEB:
- Aurinia (AUPH) is worth "keeping a closer eye on" after settlement, Dealreporter says [more]
- 3M (MMM) has attempted to contain liability over "forever chemicals," earplugs, WSJ reports [more]
- Microsoft (MSFT) at work on ChatGPT-powered version of Bing, The Information says [more]
- Southwest (LUV) offers 25,000 points to travel meltdown-impacted fliers, WSJ says [more]
- Goldman Sachs' (GS) DTC unit head stepped down, Reuters reports [more]
4. MOVERS:
- Geron (GERN) increases after reporting “positive” results from its IMerge Phase 3 trial of imetelstat [more]
- Hayward (HAYW) higher after Jefferies upgraded the stock to Buy from Hold [more]
- Vera Therapeutics (VERA) decreases after announcing results from its ORIGIN clinical trial [more]
- Mobileye (MBLY) declines in New York after announcing pact with Wistron NeWeb for software-defined imaging radars [more]
- ZoomInfo (ZI) lower after BofA downgraded the stock to Neutral from Buy [more]
5. EARNINGS/GUIDANCE:
- SGH (SGH) reported upbeat Q1 results [more]
- UniFirst (UNF) reported better-than-expected Q1 earnings and revenue [more]
- Theratechnologies (THTX) provided upbeat 2022 revenue guidance [more]
- Deciphera (DCPH) provided upbeat Q4 and FY22 revenue guidance [more]
- Collegium Pharmaceutical (COLL) provided a 2023 product revenue outlook [more]
INDEXES:
Near midday, the Dow was up 240.92, or 0.73%, to 33,377.29, the Nasdaq was up 109.11, or 1.05%, to 10,496.09, and the S&P 500 was up 44.40, or 1.16%, to 3,868.54.
