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:
- IBM (IBM) reported better than expected Q4 earnings and revenue [more]
- General Electric (GE) slid after its Q4 revenue missed the consensus forecast [more]
- Johnson & Johnson (JNJ) reported quarterly results and provided upbeat FY22 earnings and revenue guidance [more]
- 3M (MMM) reported better than expected Q4 results [more]
- The FTC is suing to block Aerojet Rocketdyne's (AJRD) proposed buyout by Lockheed Martin (LMT) [more]
2. WALL STREET CALLS:
- Nike (NKE) upgraded to Overweight from Equal Weight at Wells Fargo [more]
- Snowflake (SNOW) upgraded to Buy from Hold at Loop Capital [more]
- Delta Air Lines (DAL) upgraded to Buy from Hold at Berenberg, American Airlines (AAL) downgraded to Neutral from Buy at Redburn [more]
- Wells Fargo downgrades Kroger (KR) to Underweight with $42 price target [more]
- KeyBanc downgrades Anaplan (PLAN) to Sector Weight [more]
3. AROUND THE WEB:
- Nvidia (NVDA) is preparing to abandon its $40B proposed takeover of SoftBank's (SFTBY) Arm, Bloomberg reports [more]
- MoneyGram (MGI) is reviewing competing takeover offers from private equity firms, Reuters reports [more]
- Alphabet's (GOOGL) YouTube is exploring NFT features for video creators, Bloomberg says [more]
- AMC Entertainment (AMC) is in advanced talks to refinance debt, WSJ reports [more]
- Wells Fargo (WFC) is weighing the sale of its 20% stake in Shanghai Commercial, Bloomberg reports [more]
4. MOVERS:
- MindMed (MNMD) rises after announcing FDA approval of its IND application for MM-120 [more]
- Turquoise Hill (TRQ) gains in New York after announcing its starting production at Oyu Tolgoi underground mine in Mongolia [more]
- Allscripts (MDRX) higher after raising its FY21 adjusted EBITDA and free cash flow views, after providing its Q4 revenue guidance, and after announcing a new buyback program [more]
- United Microelectronics (UMC) falls in New York after announcing quarterly results [more]
- Bit Digital (BTBT) lower as the price of bitcoin continues to extend last week's decline [more]
5. EARNINGS/GUIDANCE:
- Verizon (VZ) reported upbeat Q4 results [more]
- American Express (AXP) also reported upbeat Q4 earnings and revenue [more]
- Commvault (CVLT) provided upbeat Q4 revenue guidance [more]
- Lockheed Martin (LMT) reported upbeat Q4 results [more]
- Archer Daniels (ADM) reported upbeat Q4 earnings and revenue [more]
INDEXES:
The Dow fell 66.77, or 0.19%, to 34,297.73, the Nasdaq lost 315.83, or 2.28%, to 13,539.30, and the S&P 500 declined 53.68, or 1.22%, to 4,356.45.