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]
- The Federal Reserve raised its interest rate benchmark by 25 basis points, says further raises "appropriate" [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]
- Meta (META) wins approval over FTC to acquire Within Limited, Bloomberg reports [more]
- Apple (AAPL) is developing micro LED technology, DigiTimes reports [more]
- DraftKings (DKNG) is laying off around 140 employees, iGaming NEXT reports [more]
- FedEx (FDX) is cutting management positions by over 10%, Bloomberg says [more]
4. MOVERS:
- Rapid7 (RPD) jumped after Reuters reported the company is exploring a possible sale [more]
- MicroVision (MVIS) rose after completing the acquisition of certain Ibeo assets [more]
- WestRock (WRK) and Hawaiian Holdings (HA) fell after reporting quarterly results [more]
- Digital Turbine (APPS) declined after B. Riley downgraded the stock to Neutral [more]
- Bread Financial (BFH), Synchrony Financial (SYF) and Capital One (COF) slid after the CFPB proposed changes to credit card late fee rules [more]
5. EARNINGS/GUIDANCE:
- Electronic Arts (EA) reported downbeat Q3 results and lowered its FY23 guidance [more]
- 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]
INDEXES:
The Dow rose 6.92, or 0.02%, to 34,092.96, the Nasdaq gained 231.77, or 2.00%, to 11,816.32, and the S&P 500 advanced 42.61, or 1.05%, to 4,119.21.