Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Booking (BKNG) reported what Evercore ISI analyst Mark Mahaney called a "strong beat" in Q1 that included all-time-high bookings and revenue [more]
- eBay (EBAY) reported upbeat Q1 results but cut its FY22 earnings and revenue guidance [more]
- Shopify (SHOP) reported quarterly results Jefferies analyst Samad Samana said were "worse than feared" and agreed to acquire Deliverr in a deal valued at $2.1B [more]
- Centene (CNC) provided a "beat and raise" report for Q1 and announced the divestment of two pharmacy businesses [more]
- MaxLinear (MXL) agreed to acquire Silicon Motion (SIMO) in a deal valued at $114.34 per share in cash and stock [more]
2. WALL STREET CALLS:
- Fortinet (FTNT) upgraded to Buy after "very good" quarter at Mizuho [more]
- BofA double downgrades Sprouts (SFM) to sell on price hikes, inflation [more]
- Brinker (EAT) downgraded to In Line from Outperform at Evercore ISI [more]
- Tupperware Brands (TUP) downgraded to Neutral from Buy at DA Davidson and cut to Neutral from Buy at Citi [more]
- Cumulus Media (CMLS) initiated with an Outperform at Barrington [more]
3. AROUND THE WEB:
- Elon Musk may serve as Twitter (TWTR) CEO for a few months after his takeover deal closes, CNBC reports [more]
- Hindenburg Research announced a short position in Singularity Future (SGLY) [more]
- Zeta Global (ZETA) was mentioned cautiously by Edwin Dorsey's Bear Cave [more]
- Meta (FB) announced a sharp slowdown in hiring, WSJ reports [more]
- Verizon (VZ) is considering raising prices and fees, Bloomberg reports [more]
4. MOVERS:
- Intercept Pharmaceuticals (ICPT) gained after announcing Advanz will acquire Ocaliva rights outside the U.S. for up to $450M [more]
- SelectQuote (SLQT) and Hudson Technologies (HDSN) higher after reporting quarterly results [more]
- Li-Cycle (LICY) advanced in New York after announcing a strategic partnership with Glencore (GLNCY) [more]
- Fastly (FSLY) declined after announcing its CEO will be stepping down and reporting quarterly results [more]
- Inseego (INSG) fell after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Etsy (ETSY) reported mixed Q1 results and gave Q2 guidance below consensus estimates [more]
- Crocs (CROX) provided a "beat and raise" report for Q1 [more]
- Twilio (TWLO) reported Q1 results that Needham analyst Ryan Koontz called "solid," but he noted that its guidance calls for Q2 organic growth to slow [more]
- Wayfair (W) reported downbeat Q1 earnings that prompted Gordon Haskett analyst Chuck Grom to downgrade the stock to Reduce from Hold [more]
- Kellogg (K) reported better-than-expected Q1 earnings and revenue [more]
INDEXES:
Near midday, the Dow was down 1,223.25, or 3.59%, to 32,837.81, the Nasdaq was down 685.79, or 5.29%, to 12,279.06, and the S&P 500 was down 176.07, or 4.09%, to 4,125.51.