Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Apple (AAPL) slides after quarterly sales miss expectations [more]
- Amazon (AMZN) also reported lower than expected results and gave disappointing holiday quarter sales guidance [more]
- Starbucks (SBUX) slips after what Barclays called a "mixed bag" fiscal Q4 report [more]
- AbbVie (ABBV) provided a "beat and raise" report for Q3 [more]
- Zendesk (ZEN) agreed to acquire Momentive (MNTV) in a stock deal for about $28 per share [more]
2. WALL STREET CALLS:
- Zendesk (ZEN) was downgraded to Hold at Jefferies, to Perform at Oppenheimer and to Neutral at Piper Sandler after the company's "thesis-changing" all-stock acquisition of Momentive (MNTV) [more]
- Citi downgrades Hershey (HSY) to Neutral on 2022 growth deceleration [more]
- Altria Group (MO) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
- Opco starts Compass Pathways (CMPS) at buy, says "leading the psychedelic resurgence" [more]
- Starbucks (SBUX) downgraded to Hold at Stifel on inflationary pressures [more]
3. AROUND THE WEB:
- Coca-Cola near acquiring controlling stake in BodyArmor, Bloomberg says [more]
- Roku (ROKU) faces a battle over Amazon's (AMZN) IMDb TV, The Information reports [more]
- Alibaba (BABA) investors hope the worst is over one year after stock selloff, WSJ says [more]
- One of Shell's (RDS.A) biggest investors rejects a proposal to split the group, FT says [more]
- Meta (MVRS), the rebranded Facebook (FB), is working on a line of smartwatches, Bloomberg reports [more]
4. MOVERS:
- WiMi Hologram Cloud (WIMI) rises after submitting a trademark application of "WiMi Metaverse" [more]
- A10 Networks (ATEN), Atlassian (TEAM), and U.S. Steel (X) higher after reporting quarterly results [more]
- 4D Molecular (FDMT) slips after a 4.75M share secondary priced at $25 [more]
- Futu Holdings (FUTU) falls after Morgan Stanley analyst Katherine Liu downgraded the stock to Equal Weight from Overweight [more]
- MicroVision (MVIS), Western Digital (WDC), and Gilead (GILD) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Exxon Mobil (XOM) reported upbeat Q3 earnings, increased its Q4 dividend and said it sees $10B share buyback program over 12-24 months [more]
- Chevron (CVX) also reported better than expected Q3 results [more]
- Novo Nordisk (NVO) raised its sales and operating profit growth outlook for FY21 [more]
- Royal Caribbean (RCL) reported worse than expected quarterly losses [more]
- Phillips 66 (PSX) reported upbeat Q3 earnings [more]
INDEXES:
Near midday, the Dow was up 60.68, or 0.17%, to 35,791.16, the Nasdaq was down 16.81, or 0.11%, to 15,431.31, and the S&P 500 was up 1.12, or 0.02%, to 4,597.54.