Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Meta (META) plans to reduce its team size by around 10,000 people [read more]
- United Airlines (UAL), JetBlue (JBLU), and Southwest (LUV) provided downbeat outlooks for Q1, with Southwest also announcing actions to boost operations [read more]
- Univar (UNVR) agreed to be acquired by Apollo Global (APO) funds for $8.1B [read more]
- Cvent (CVT) agreed to be acquired by Blackstone (BX) for $8.50 per share in cash in a deal with an enterprise value of $4.6B [read more]
- Momentive (MNTV) will be acquired by Symphony Technology Group for $1.5B in cash [read more]
2. WALL STREET CALLS:
- nCino (NCNO) downgraded on bank industry uncertainty at Piper Sandler [read more]
- Roku (ROKU) upgraded to Peer Perform on improved confidence at Wolfe Research [read more]
- Estee Lauder (EL) initiated with an Outperform at TD Cowen [read more]
- Match Group (MTCH) upgraded to Overweight from Equal Weight at Barclays [read more]
- TrueCar (TRUE) upgraded to Buy from Hold at Needham [read more]
3. AROUND THE WEB:
- SVB's (SIVB) collapse being probed by the DOJ and SEC, WSJ reports [read more]
- Apple (AAPL) is actively developing micro LED technology, DigiTimes reports [read more]
- Tesla's (TSLA) Autopilot name lacks "common sense," U.S. Transportation Secretary Pete Buttigieg told Bloomberg [read more]
- Vivendi (VIVHY) is in talks to sell Editis to Czech Media Invest, FT reports [read more]
- Ron Baron told CNBC he bought Charles Schwab (SCHW) stock yesterday [read more]
4. MOVERS:
- PacWest Bancorp (PACW) gains as regional bank stocks bounce back and after CEO bought shares [read more]
- Amylyx (AMLX) rises after reporting quarterly results [read more]
- Bunge (BG) higher after being named to join the S&P 500 [read more]
- BigBear.ai (BBAI) lower after reporting quarterly results [read more]
- Nano Dimension (NNDM) falls in New York after announcing the Israeli court decision on the Munchinson hearing date [read more]
5. EARNINGS/GUIDANCE:
- GitLab (GTLB) reported upbeat Q4 results [read more]
- Turtle Beach (HEAR) reported lower-than-expected Q4 earnings and revenue [read more]
- Semrush (SEMR) reported mixed Q4 results [read more]
- BuzzFeed (BZFD) reported upbeat Q4 revenue [read more]
- Caleres (CAL) reported upbeat Q4 revenue [read more]
INDEXES:
Near midday, the Dow was up 409.67, or 1.29%, to 32,228.81, the Nasdaq was up 259.92, or 2.32%, to 11,448.77, and the S&P 500 was up 73.72, or 1.91%, to 3,929.48.