Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Netflix (NFLX) shares lost over a third of their value after the company unexpectedly lost 200,000 subscribers in the first quarter [more]
- Procter & Gamble (PG) reported better-than-expected Q3 earnings and revenue [more]
- IBM (IBM) also reported upbeat Q1 results [more]
- Lululemon (LULU) announced a five year growth plan to double revenue to $12.5B by 2026 [more]
- The Federal Reserve's latest Beige Book report said that economic activity expanded at a "moderate pace" during the period covered [more]
2. WALL STREET CALLS:
- Pivotal Research and BofA double-downgraded Netflix (NFLX) to Sell-equivalent ratings after the company's "shocking" subscriber decline while a slew of others on Wall Street went to Hold ratings on the streaming giant after last night's earnings report [more]
- Citi analyst Ronald Josey upgraded Alphabet (GOOGL) to Buy from Neutral after assuming coverage of the internet sector [more]
- Halliburton (HAL) downgraded to Equal Weight at Stephens following outperformance [more]
- Barclays upgrades Avis (CAR) to neutral on "constructive" rental stance [more]
- Alkermes (ALKS) initiated with a Buy at Goldman Sachs [more]
3. AROUND THE WEB:
- I-Mab (IMAB) is exploring a possible sale amid takeover interest, Bloomberg reports [more]
- Trump-linked Digital World Acquisition (DWAC) was named as a short idea by Kerrisdale Capital [more]
- Shopify (SHOP) and Facebook (FB) are at adds over data, The Information reports [more]
- Blackstone (BX) is targeting a raise of $6B-$7B for its newest green energy credit fund, Bloomberg reports [more]
- Rite Aid (RAD) recently turned down a PE firm's $14.60 per share takeover bid, NY Post reports [more]
4. MOVERS:
- AlloVir (ALVR) soars after announcing the FDA granted Regenerative Medicine Advanced Therapy designation for posoleucel [more]
- Cano Health (CANO) rises after UBS analyst Andrew Monk initiated coverage of the stock with a Buy rating and $15 price target [more]
- Healthcare Services (HCSG) advances after reporting quarterly results [more]
- Arcturus Therapeutics (ARCT) declines after reporting data from its ongoing Phase 1/2/3 trial evaluating its mRNA vaccine candidate against COVID-19 disease [more]
- Shopify (SHOP) falls after Bloomberg reported that the company is in talks to buy Deliverr for over $2B [more]
5. EARNINGS/GUIDANCE:
- Abbott (ABT) reported upbeat Q1 results and reiterated its FY22 earnings guidance [more]
- Baker Hughes (BKR) reported downbeat Q1 results [more]
- Anthem (ANTM) reported better-than-expected Q1 earnings and revenue [more]
- Farmers & Merchants (FMAO) reported upbeat Q1 earnings [more]
- Rogers Communications (RCI) raised its FY22 revenue guidance [more]
INDEXES:
The Dow rose 249.59, or 0.71%, to 35,160.79, the Nasdaq lost 166.59, or 1.22%, to 13,453.07, and the S&P 500 declined 2.76, or 0.06%, to 4,459.45.