Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Multiple media outlets reported that Broadcom (AVGO) is in advanced talks to acquire VMware (VMW) [more]
- Puck reported on Friday that Electronic Arts (EA) has been looking to sell itself or merge with an entertainment asset [more]
- Starbucks (SBUX) closing down 130 stores, to exit operations in Russia [more]
- JPMorgan (JPM) hosted an investor day event that Chairman and CEO Jamie Dimon said the bank should have done "earlier" [more]
- Innoviva (INVA) announced an agreement to acquire all of the outstanding shares of Entasis Therapeutics (ETTX) it does not already own for $2.20 per share in cash [more]
2. WALL STREET CALLS:
- HP Inc. (HPQ) downgraded to Neutral from Buy at Citi [more]
- Deutsche Bank downgraded Autodesk (ADSK) ahead of earnings on risk to consensus estimates [more]
- Nvidia (NVDA) price targets lowered at Bernstein and UBS ahead of the company's Q1 report due later this week [more]
- SVB Leerink analyst David Risinger initiated coverage of AbbVie (ABBV) with an Underperform rating [more]
- Citi cut estimates for several retail companies and downgraded eight apparel and retail stocks [more]
3. AROUND THE WEB:
- Tesla (TSLA) sees restoring Shanghai production on Tuesday, Reuters reports [more]
- Thoma Bravo not readying rival bid for Twitter (TWTR), NY Post says [more]
- Apple (AAPL) looking to boost production outside China, WSJ reports [more]
- Amazon (AMZN) aims to sublet warehouse capacity, end leases, Bloomberg reports [more]
- Kohl's (KSS) bids won't get financed in $60s, CNBC's Eisen says [more]
4. MOVERS:
- American Axle (AXL) advanced after Bloomberg said the company is exploring a sale [more]
- Nutanix (NTNX) closed higher after Dealreporter called it a "situation to keep an eye on" [more]
- The Gap (GPS) slid after Citi downgraded the stock to Sell from Neutral [more]
- United Therapeutics (UTHR) gained after the company's NDA for Tyvaso DPI was approved by the FDA [more]
- Envestnet (ENV) declined after Barron's said private equity firms had passed on bidding for the company [more]
5. EARNINGS/GUIDANCE:
- XPeng (XPEV) declined in New York trading after reporting quarterly results [more]
- Gilat Satellite (GILT) reaffirms 2022 revenue view [more]
- ReShape Lifesciences (RSLS) reported Q1 revenue below last year's levels due to closing of "significant number" of bariatric centers [more]
- ToughBuilt (TBLT) reports Q1 results [more]
- Teleflex (TFX) affirms FY22 EPS view at analyst day [more]
INDEXES:
The Dow rose 618.34, or 1.98%, to 31,880.24, the Nasdaq gained 180.66, or 1.59%, to 11,535.27, and the S&P 500 advanced 72.39, or 1.86%, to 3,973.75.