Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Coinbase (COIN) reported downbeat Q1 revenue and said it expects MTUs and trading volume to be even lower in Q2 [more]
- Electronic Arts (EA) reported mixed results and gave FY23 guidance that Raymond James analyst Andrew Marok called "encouraging" [more]
- Switch (SWCH) agreed to be taken private By DigitalBridge (DBRG) and IFM in an $11B transaction [more]
- Chicken Soup for the Soul (CSSE) agreed to acquire Redbox (RDBX) [more]
- An affiliate of Philip Morris (PM) offered to acquire Swedish Match (SWMAY) for SEK106 per share and the board of the latter recommends accepting the takeover bid [more]
2. WALL STREET CALLS:
- Planet Fitness (PLNT) upgraded to Overweight on usage trends at JPMorgan [more]
- Corning (GLW) downgraded to Equal Weight from Overweight at Barclays [more]
- Electronic Arts (EA) upgraded to Buy at MoffettNathanson on durable franchises [more]
- Affirm (AFRM) initiated with a Neutral at JPMorgan [more]
- Peloton (PTON) was downgraded to Hold from Buy at Stifel and upgraded to Outperform from Market Perform at JMP Securities [more]
3. AROUND THE WEB:
- White Diamond is short A2Z Smart Technologies (AZ) [more]
- Apollo Global (APO) aims to lead $1B in financing for Elon Musk's Twitter (TWTR) bid, Bloomberg reports [more]
- The Biden administration is asking the Supreme Court to reject a Bayer (BAYRY) appeal to Roundup ruling, Reuters reports [more]
- Blackstone (BX) is weighing teaming up with KKR (KKR) on a Toshiba (TOSYY) bid, Bloomberg reports [more]
- Boeing (BA) and Aerojet Rocketdyne (AJRD) are feuding ahead of the Starliner test launch, Reuters reports [more]
4. MOVERS:
- Veru (VERU) up after announcing that FDA has agreed that data from a Phase 3 study in hospitalized COVID-19 patients at high risk for acute respiratory distress syndrome are sufficient to support the submission of a request for Emergency Use Authorization [more]
- H&R Block (HRB) rises after a "beat and raise" report for Q3 [more]
- Celsius Holdings (CELH), Endeavour Silver (EXK), and Roblox (RBLX) higher after reporting quarterly results [more]
- View (VIEW) falls after stating that it sees "substantial doubt" about ability to continue as going concern [more]
- Kornit (KRNT), Unity (U), and Fiverr (FVRR) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Wendy's (WEN) reported downbeat Q1 earnings and revenue [more]
- 8x8 (EGHT) reported better-than-expected Q4 earnings [more]
- Array Technologies (ARRY) lowered its FY22 earnings and revenue guidance [more]
- RealReal (REAL) reported upbeat Q1 results and reaffirmed its FY22 guidance [more]
- Performance Food Group (PFGC) provided upbeat FY22 revenue guidance [more]
INDEXES:
The Dow fell 326.63, or 1.02%, to 31,834.11, the Nasdaq lost 373.44, or 3.18%, to 11,364.24, and the S&P 500 declined 65.87, or 1.65%, to 3,935.18.