Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Starbucks (SBUX) reported upbeat Q2 revenue but suspended its guidance for the remainder of the year [more]
- Airbnb (ABNB) reported upbeat Q1 results and provided better-than-expected Q2 revenue guidance [more]
- Uber (UBER) and Lyft (LYFT) both reported better-than-expected quarterly revenue but worse-than-expected losses [more]
- IntercontinentalExchange (ICE) agreed to acquire Black Knight (BKI) for $85 per share in a deal with a market value of $13.1B [more]
- The Federal Reserve raised its interest rate benchmark by 50 basis points and said ongoing rate hikes will be "appropriate" [more]
2. WALL STREET CALLS:
- Starbucks (SBUX) upgraded to Outperform from In Line at Evercore ISI [more]
- Scotts Miracle-Gro (SMG) upgraded to Overweight on valuation at JPMorgan while being downgraded to Hold at Stifel on its "tepid" near-term outlook [more]
- Carvana (CVNA) downgraded to Equal Weight at Morgan Stanley on liquidity and costs [more]
- Teva (TEVA) downgraded to Underweight from Neutral at Piper Sandler [more]
- Marqeta (MQ) initiated with an Outperform at Credit Suisse [more]
3. AROUND THE WEB:
- Tesla (TSLA) founder Elon Musk is telling potential investors that Twitter (TWTR) could become public again later, WSJ reports [more]
- BMW (BMWYY) and Audi (AUDVF) have suspended shipments of cars by railway to China, FT reports [more]
- Spruce Point said it is covering its remaining Oatly (OTLY) short position [more]
- Sonos (SONO) will introduce its own voice assistant service, The Verge reports [more]
- The SEC is investigating Didi Global's (DIDI) IPO, Reuters reports [more]
4. MOVERS:
- Livent (LTHM) higher after reporting quarterly results and raising guidance [more]
- Bright Health (BHG) up after reporting quarterly results [more]
- Brinker (EAT) declines after reporting quarterly results and cutting its FY22 EPS guidance [more]
- Kezar Life Sciences (KZR) lower after reporting results from the PRESIDIO Phase 2 trial of zetomipzomib [more]
- Amarin (AMRN) falls after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- CVS Health (CVS) provided a "beat and raise" report for Q1 [more]
- AMD (AMD) also provided a "beat and raise" report [more]
- Akamai (AKAM) reported downbeat Q1 earnings [more]
- Marriott (MAR) reported better-than-expected Q1 earnings and revenue [more]
- Tupperware Brands (TUP) reported downbeat Q1 results and withdrew its 2022 earnings guidance [more]
INDEXES:
The Dow rose 932.27, or 2.81%, to 34,061.06, the Nasdaq gained 401.10, or 3.19%, to 12,964.86, and the S&P 500 advanced 124.69, or 2.99%, to 4,300.17.