Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Deere (DE) reported better than expected Q2 sales and earnings, cut its FY22 operating cash flow view [more]
- Foot Locker (FL) reported mixed Q1 results, backed its FY22 revenue view at upper end of down 4%-6% [more]
- Palo Alto Networks (PANW) shares are jumping after the company raised its FY22 guidance [more]
- Ross Stores (ROST) shares are sinking following the company's Q1 miss and fiscal year guidance cut [more]
- Applied Materials (AMAT) posted a fiscal Q2 miss and provided Q3 guidance well below consensus [more]
2. WALL STREET CALLS:
- Amazon.com (AMZN) removed from Focus List at Citi [more]
- HP Enterprise (HPE) and Pure Storage (PSTG) were both downgraded to Neutral from Buy at BofA [more]
- Wix.com (WIX) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
- BofA upgraded Ollie's Bargain Outlet (OLLI) to Buy from Underperform [more]
- Guggenheim upgraded Mirati Therapeutics (MRTX) to Buy with a $115 price target, citing its view on lead product candidate adagrasib [more]
3. AROUND THE WEB:
- Coinbase (COIN) to freeze hiring for two weeks, pause new projects, Information reports [more]
- UnitedHealth (UNH) focused on telehealth to reduce costs, WSJ reports [more]
- Tesla's (TSLA) Elon Musk denies Insider report he sexually harassed flight attendant on private jet [more]
- TSMC (TSM) downplays report about potential Singapore fab, DigiTimes says [more]
- Breakup of Google (GOOGL) ad business could be forced by new legislation, WSJ says [more]
4. MOVERS:
- Covetrus (CVET) higher after confirming receipt of $21 per share buyout proposal [more]
- iQIYI (IQ) gains in New York after announcing it is set to release 213 new pieces of content [more]
- Bill.com (BILL) increases after JPMorgan initiated coverage of the stock with an Overweight rating and $140 price target [more]
- Kohl’s (KSS) lower after shareholder Macellum Advisors issued a statement regarding the company's board and the New York Post said the company’s quarterly results may impact its auction to sell itself [more]
- Novavax (NVAX) declines after BofA initiated coverage of the stock with an Underperform rating and $35 price target [more]
5. EARNINGS/GUIDANCE:
- VF Corp. (VFC) reported lower-than-expected Q4 results, gave a worse-than-expected FY23 outlook [more]
- Deckers Brands (DECK) reported what Stifel analyst Jim Duffy called strong growth from both UGG and HOKA in Q4 to "close another exceptional year" [more]
- Flowers Foods (FLO) reported what its CEO called "another quarter of record results" [more]
- Booz Allen (BAH) reported mixed Q4 results [more]
- Globant (GLOB) reported what its CEO said was "another outstanding quarter" [more]
INDEXES:
Near midday, the Dow was down 189.83, or 0.61%, to 31,063.30, the Nasdaq was down 113.76, or 1.00%, to 11,274.73, and the S&P 500 was down 28.24, or 0.72%, to 3,872.55.