Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Tesla (TSLA) reported better-than-expected Q1 sales and earnings, with the company repeating its call to grow manufacturing capacity "as quickly as possible" [more]
- Elon Musk confirmed he is exploring whether to commence a tender offer to acquire Twitter (TWTR) [more]
- AT&T (T) reported better-than-expected Q1 results, with 691,000 postpaid phone net adds in the quarter [more]
- Carvana (CVNA) reported downbeat Q1 losses and said it won't provide specific near-term guidance for the year [more]
- Alcoa (AA) reported upbeat Q1 earnings but lower-than-expected revenue [more]
2. WALL STREET CALLS:
- Exxon Mobil (XOM) upgraded to Outperform from Sector Perform at RBC Capital, which paired the change with a downgrade of Chevron (CVX) to Sector Perform [more]
- Morgan Stanley double upgraded M&T Bank (MTB) to Overweight from Underweight as analyst Betsy Graseck argued that rate sensitivity "trumps" credit fears [more]
- E2open (ETWO) upgraded to Buy at BofA on accelerating revenue growth [more]
- Carvana (CVNA) downgraded to In Line from Outperform at Evercore ISI [more]
- Truist cut Twitter (TWTR) to Hold, sees Musk's offer as "fair" [more]
3. AROUND THE WEB:
- Meta (FB) COO Sheryl Sandberg pressured a tabloid to shelve articles on Activision Blizzard (ATVI) CEO Bobby Kotick, WSJ reports [more]
- A judge has dismissed a class-action lawsuit against Activision Blizzard, Bloomberg reports [more]
- Exxon Mobil (XOM) is weighing a complete withdrawal from Russia by June 24, Reuters reports [more]
- Delta (DAL) and United (UAL) will end restrictions on flyers banned over mask violations, FT reports [more]
- Kolon made an offer to MagnaChip (MX) but is no longer pursuing a deal, MBN reports [more]
4. MOVERS:
- Nucor (NUE) gains after saying it expects Q2 to be the “most profitable quarter in Nucor’s history” [more]
- Liberty Oilfield Services (LBRT) and Steel Dynamics (STLD) advance after reporting quarterly results [more]
- Rite Aid (RAD) declines after confirming the rejection of Spear Point Capital acquisition proposal [more]
- Didi (DIDI) falls in New York after Nikkei reported the company is shuttering its Japanese food delivery business [more]
- Freeport McMoRan (FCX) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- American Airlines (AAL) reported upbeat Q1 results [more]
- United Airlines (UAL) reported downbeat Q1 results [more]
- Equifax (EFX) reported upbeat Q1 earnings and revenue but cut its FY22 guidance [more]
- Xerox (XRX) reported downbeat Q1 earnings [more]
- Tractor Supply (TSCO) reported upbeat Q1 results and reiterated its FY22 guidance [more]
INDEXES:
Near midday, the Dow was up 32.12, or 0.09%, to 35,192.91, the Nasdaq was down 71.89, or 0.53%), to 13,381.18, and the S&P 500 was down 8.07, or 0.18%, to 4,451.38.