Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Credit Suisse (CS) slides as top shareholder Saudi National Bank has ruled out investing any more money in the Swiss lender [read more]
- The STB approved Canadian Pacific (CP) to acquire Kansas City Southern (KSU) with conditions [read more]
- T-Mobile (TMUS) agreed to acquire the parent company of Ryan Reynolds-backed Mint Mobile for $1.35B in a cash and stock deal [read more]
- Guess (GES) reported upbeat Q4 results [read more]
- Lennar (LEN) reported better-than-expected Q1 results [read more]
2. WALL STREET CALLS:
- Charles Schwab (SCHW) upgraded to Outperform from Neutral at Credit Suisse [read more]
- Jefferies upgrades Harley-Davidson (HOG) to Hold despite retail caution [read more]
- Truist Financial (TFC) upgraded to Buy from Neutral at Citi [read more]
- FTC Solar (FTCI) upgraded to Buy from Underperform at BofA [read more]
- Norfolk Southern (NSC) cut to Hold at Argus on earnings uncertainty [read more]
3. AROUND THE WEB:
- Credit Suisse (CS) is seeking a show of support from the Swiss National Bank, FT reports [read more]
- Manchester United (MANU) is in talks with eight groups about ownership, Telegraph reports [read more]
- Disney (DIS) CEO Bob Iger is weighing the future of Hulu, FT says [read more]
- SVB (SIVB) creditors formed a group ahead of possible bankruptcy, WSJ reports [read more]
- Signature Bank (SBNY) was being probed by prosecutors ahead of seizure, Bloomberg reports [read more]
4. MOVERS:
- Roivant Sciences (ROIV) gains after reporting results from its ADORING 2 Phase 3 trial of VTAMA [read more]
- Smartsheet (SMAR) increases after reporting quarterly results [read more]
- Western Alliance (WAL) higher after UBS started the stock with a Buy rating [read more]
- FinVolution Group (FINV) lower in New York after Citi downgraded the stock to Neutral [read more]
- Freshpet (FRPT) falls after announcing a $350M convertible senior notes offering [read more]
5. EARNINGS/GUIDANCE:
- SentinelOne (S) reported upbeat Q4 earnings and revenue [read more]
- Porch Group (PRCH) reported downbeat Q4 results [read more]
- Vacasa (VCSA) reported lower-than-expected Q4 earnings [read more]
- Oatly (OTLY) reported mixed Q4 results [read more]
- Coty (COTY) reiterated its FY23 adjusted earnings guidance [read more]
INDEXES:
Near midday, the Dow was down 581.60, or 1.81%, to 31,573.80, the Nasdaq was down 97.56, or 0.85%, to 11,330.59, and the S&P 500 was down 59.20, or 1.51%, to 3,860.09.