Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Snap (SNAP) reported mixed Q1 results [more]
- Verizon (VZ) reported better-than-expected Q1 results but guided for 2022 earnings at the lower end of its outlook [more]
- American Express (AXP) reported upbeat Q1 earnings and revenue [more]
- Gap (GPS) said that Old Navy president Nancy Green will leave the company this week and cut its Q1 sales growth guidance [more]
- AB InBev (BUD) will sell its interest in the AB InBev Efes joint venture in Russia [more]
2. WALL STREET CALLS:
- JPMorgan double upgraded United Airlines (UAL) to Overweight from Underweight [more]
- Argus upgraded American Airlines (AAL) to Buy while JPMorgan also upgraded American to Neutral [more]
- Deutsche Bank downgraded JetBlue Airways (JBLU) to Hold from Buy [more]
- Milestone Pharmaceuticals (MIST) upgraded to Overweight from Neutral at Piper Sandler [more]
- Raymond James initiated coverage of Spire Global (SPIR) with an Outperform rating and $4 target [more]
3. AROUND THE WEB:
- Iceberg Research announced a short position in Rockley Photonics (RKLY) [more]
- Renault (RNLSY) is exploring a stock market listing of its electric vehicle unit in 2023, FT reports [more]
- Bain-backed Chindata (CD) has received preliminary takeover interest, Bloomberg reports [more]
- Amazon (AMZN) acquired Indian social commerce startup GlowRoad, TechCrunch says [more]
- Ferrari (RACE) is recalling 2,222 cars in China over a brake issue, Bloomberg says [more]
4. MOVERS:
- A10 Networks (ATEN) gains after being named to join the S&P 600 [more]
- Ginkgo Bioworks (DNA) increases after announcing a partnership with Bayer (BAYRY) [more]
- Medical Properties Trust (MPW) falls after Jefferies analyst Jonathan Petersen downgraded the stock to Hold [more]
- Newmont (NEM) declines after reporting quarterly results [more]
- HCA Healthcare (HCA) lower after reporting quarterly results and after cutting its FY22 EPS and revenue guidance [more]
5. EARNINGS/GUIDANCE:
- Boston Beer (SAM) reported downbeat Q1 results [more]
- Intuitive Surgical (ISRG) reported better-than-expected Q1 results [more]
- Cleveland-Cliffs (CLF) reported upbeat Q1 earnings [more]
- Kimberly-Clark (KMB) raised its FY22 revenue guidance [more]
- Schlumberger (SLB) reported upbeat Q1 results [more]
INDEXES:
Near midday, the Dow was down 616.96, or 1.77%, to 34,175.80, the Nasdaq was down 198.60, or 1.51%, to 12,976.05, and the S&P 500 was down 77.39, or 1.76%, to 4,316.27.