Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Ford (F) EV customers will gain access to 12,000 Tesla (TSLA) superchargers [read more]
- Costco (COST) reported lower-than-expected Q3 earnings and revenue [read more]
- Workday (WDAY) reported upbeat Q1 results and named Zane Rowe as its next CFO [read more]
- Gap (GPS) reported better-than-expected Q1 earnings, though comparable sales fell 3% year-over-year [read more]
- Marvell (MRVL) reported upbeat Q1 results and provided Q2 earnings and revenue guidance [read more]
2. WALL STREET CALLS:
- Guardant Health (GH) was upgraded to Buy at Citi with key overhangs removed [read more]
- MongoDB (MDB) was downgraded to Sell at Guggenheim on growth and valuation concerns [read more]
- Loop Capital upgraded Paramount (PARA) to Hold as controlling shareholder raises funds [read more]
- eFfector Therapeutics (EFTR) was upgraded to Buy from Hold at Stifel [read more]
- Terran Orbital (LLAP) was double downgraded to Underperform from Buy at BofA [read more]
3. AROUND THE WEB:
- Walgreens Boots (WBA) is cutting 10% of its corporate workforce, Chicago Sun Times reports [read more]
- JPMorgan (JPM) informs some First Republic (FRCB) staff of layoffs, Reuters says [read more]
- Teva (TEVA) is exploring options for its inflammatory bowel disease drug, Bloomberg says [read more]
- U.S. feels pressure to respond after China’s Micron (MU) ban, WSJ says [read more]
- Nvidia (NVDA) is being pushed toward the $1T club by the AI boom, WSJ reports [read more]
4. MOVERS:
- Coherent (COHR) increases after entering a collaboration with Mitsubishi Electric [read more]
- PDD Holdings (PDD) rises in New York after reporting quarterly results [read more]
- Geron (GERN) gains after announcing data supporting its NDA submission for imetelstat is on track for June 2023 [read more]
- Tilray (TLRY) sinks after announcing a $150M stock offering [read more]
- DLocal (DLO) declines after Muddy Waters highlighted a report saying the company is being investigated in Argentina [read more]
5. EARNINGS/GUIDANCE:
- Ulta Beauty (ULTA) reported its Q1 results, with Stifel commenting the results were “mixed” [read more]
- Autodesk (ADSK) reported Q1 results and provided guidance for Q2 and FY24 [read more]
- Hibbett (HIBB) cut its FY24 EPS and revenue view, with CEO Mike Longo saying customers are “facing a number of headwinds” [read more]
- The Buckle (BKE) reported Q1 results, which were lower year-over-year [read more]
- Big Lots (BIG) reported Q1 results that missed consensus, suspended its dividend, and provided guidance for Q2 and FY23 [read more]
INDEXES:
Near midday, the Dow was up 303.67, or 0.93%, to 33,068.32, the Nasdaq was up 240.92, or 1.90%, to 12,939.01, and the S&P 500 was up 48.19, or 1.16%, to 4,199.47.
