Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Snap (SNAP) saw multiple downgrades and price target cuts on Wall Street coming out of the company's Q4 results [more]
- AMD (AMD) reported better-than-expected Q4 results [more]
- T-Mobile (TMUS) reported upbeat Q4 earnings and revenue [more]
- Western Digital (WDC) reported lower-than-expected Q2 earnings and provided downbeat Q3 guidance [more]
- Electronic Arts (EA) reported downbeat Q3 results and lowered its FY23 guidance [more]
2. WALL STREET CALLS:
- Snap (SNAP) was downgraded to Hold at Benchmark and to Neutral at UBS after earnings [more]
- Foot Locker (FL) upgraded to Outperform from Neutral at Credit Suisse [more]
- Craig-Hallum downgraded AMD (AMD) to Hold on slowing growth [more]
- BofA downgraded Electronic Arts (EA) to Neutral following the company's fiscal Q3 miss [more]
- Goldman Sachs downgraded Funko (FNKO) to Sell [more]
3. AROUND THE WEB:
- Microsoft (MSFT) plans to incorporate ChatGPT into Bing in the coming weeks, Semafor reports [more]
- Netflix (NFLX) said ad-tier signups doubled in January from December, The Information reports [more]
- Meta (META) wins approval over FTC to acquire Within Limited, Bloomberg reports [more]
- Apple (AAPL) is developing micro LED technology, DigiTimes reports [more]
- U.K. defense firm Cobham "looking seriously" at Mercury Systems, Bloomberg says [more]
4. MOVERS:
- Rapid7 (RPD) higher after Reuters reported the company is exploring a possible sale [more]
- MicroVision (MVIS) gains after completing the acquisition of certain Ibeo assets [more]
- WestRock (WRK) and Hawaiian Holdings (HA) fall after reporting quarterly results [more]
- Digital Turbine (APPS) declines after B. Riley downgraded the stock to Neutral [more]
- Bread Financial (BFH), Synchrony Financial (SYF) and Capital One (COF) lower after the CFPB proposed changes to credit card late fees [more]
5. EARNINGS/GUIDANCE:
- Match Group (MTCH) reported downbeat Q4 results [more]
- Peloton (PTON) reported mixed Q2 results [more]
- Altria (MO) reported mixed Q4 results and provided FY23 earnings guidance [more]
- Thermo Fisher (TMO) reported better-than-expected Q4 results [more]
- Novartis (NVS) reported mixed Q4 results [more]
INDEXES:
Near midday, the Dow was down 332.99, or 0.98%, to 33,753.05, the Nasdaq was down 45.52, or 0.39%, to 11,539.03, and the S&P 500 was down 22.52, or 0.55%, to 4,054.08.