Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Twitter (TWTR) received an unsolicited, non-binding takeover proposal from Tesla (TSLA) founder Elon Musk to buy the company for $54.20 per share in cash [more]
- Citi (C) and Wells Fargo (WFC) both reported better-than-expected Q1 earnings [more]
- Goldman Sachs (GS) also reported better-than-expected Q1 earnings and revenue, while Morgan Stanley (MS) reported year-over-year drops in earnings and revenue for the quarter [more]
- UnitedHealth (UNH) provided a "beat and raise" report for Q1 [more]
- Pfizer (PFE) and BioNTech (BNTX) plan to submit a request for Emergency Use Authorization to the FDA for a vaccine booster dose for children ages 5-11 [more]
2. WALL STREET CALLS:
- Twitter (TWTR) downgraded to Perform at Oppenheimer and cut to Sell at Stifel after Musk takeover bid [more]
- Bed Bath & Beyond (BBBY) downgraded to Underperform at Telsey Advisory [more]
- IBM (IBM) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
- Delta Air Lines (DAL) upgraded to Overweight from Equal Weight at Barclays [more]
- Susquehanna downgraded Seagate (STX) to Negative from Neutral and lowered Western Digital (WDC) to Neutral from Positive
- [more]
3. AROUND THE WEB:
- Peloton (PTON) is cutting prices for three major hardware products and raising subscription rates, Bloomberg reports [more]
- Panasonic (PCRFY) plans to release a bigger EV battery to expand its client base, FT reports [more]
- Executive pay packages were rejected by Stellantis (STLA) shareholders, WSJ reports [more]
- Deezer nearing deal to go public by merging with SPAC, WSJ reports [more]
- Starbucks (SBUX) CEO Howard Schultz is seeking to expand worker benefits that may exclude unionized workers, WSJ reports [more]
4. MOVERS:
- CoreCivic (CXW) rises after Wedbush analyst Henry Coffey upgraded the stock to Outperform from Neutral [more]
- Mersana Therapeutics (MRSN) jumps after director Andrew Hack disclosed the purchase of 598,000 common shares of the company [more]
- Rite Aid (RAD) higher after reporting quarterly results [more]
- Protagonist (PRGX) falls after receiving an FDA letter to rescind Breakthrough Therapy Designation for PN-943 [more]
- Ericsson (ERIC) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- U.S. Bancorp (USB) reported upbeat Q1 results [more]
- State Street (STT) reported better-than-expected Q1 earnings and revenue [more]
- Rent The Runway (RENT) reported upbeat Q4 results but provided conservative FY22 revenue guidance [more]
- Progressive (PGR) reported lower-than-expected Q1 earnings [more]
- Ally Financial (ALLY) reported upbeat Q1 results [more]
INDEXES:
Near midday, the Dow was up 54.76, or 0.16%, to 34,619.35, the Nasdaq was down 183.07, or 1.34%, to 13,460.52, and the S&P 500 was down 24.43, or 0.55%, to 4,422.16.