Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Wendy's (WEN) largest shareholder, Trian Fund Management, disclosed that it intends to explore and evaluate a potential transaction that could result in control of the company [more]
- Nordstrom (JWN) Q1 losses beat consensus forecasts on stronger sales and the company bucked the recent trend in retail by raising its fiscal year outlook [more]
- Dick's Sporting Goods (DKS) also reported better-than-expected Q1 sales and earnings, but cut its FY22 adjusted EPS and same-store sales growth view [more]
- Starbucks (SBUX) agreed to sell the brand and business of Evolution Fresh to Bolthouse Farms for an undisclosed amount [more]
- General Mills (GIS) agreed to sell its Helper main meals and Suddenly Salad units for $610M [more]
2. WALL STREET CALLS:
- 2U (TWOU) downgraded to Underweight from Neutral at Piper Sandler [more]
- Citi cuts Best Buy (BBY) target to Street-low $65, says "not built for a recession" [more]
- Oppenheimer upgraded CME Group (CME) to Outperform [more]
- Tudor Pickering downgraded Fisker (FSR) to Hold [more]
- Mizuho upgraded Sabra Health Care (SBRA) to Buy [more]
3. AROUND THE WEB:
- Saudi Aramco approached Valvoline (VVV) about takeover of one of its units, WSJ says [more]
- Development of Apple's (AAPL) new iPhones behind schedule, Nikkei says [more]
- Kohl's (KSS) bidders to cut offers, may still bid up to $62 per share, Reuters says [more]
- Nike (NKE) not renewing franchise deal, will leave Russia, Vedomosti says [more]
- Stellantis (STLA) unit FCA reaches plea deal in emissions probe, Reuters reports [more]
4. MOVERS:
- Teva (TEVA) rises after announcing agreement with West Virginia to settle opioid-related claims [more]
- Urban Outfitters (URBN) gains after reporting quarterly results [more]
- InterDigital (IDCC) falls after announcing offering of $350M senior convertible notes [more]
- BlackSky (BKSY), Maxar (MAXR), and Planet (PL) advance after trio awarded Electro-Optical Commercial Layer contracts by the National Reconnaissance Office, or NRO [more]
- Covetrus (CVET) gained after annnouncing deal to be acquired by private equity buyers for $21 per share in cash [more]
5. EARNINGS/GUIDANCE:
- Here's what Wall Street experts are saying about Alibaba (BABA) ahead of earnings [more]
- Toll Brothers (TOL) CEO "very pleased" with Q2 performance [more]
- Intuit (INTU) delivered what Piper Sandler analyst Arvind Ramnani called "robust upside" to fiscal Q3 expectations and raised full year targets [more]
- Dycom (DY) reported better-than-expected Q1 results [more]
- Express (EXPR) reported Q1 results that CEO Tim Baxter said "exceeded our expectations" [more]
INDEXES:
The Dow rose 191.66, or 0.60%, to 32,120.28, the Nasdaq gained 170.29, or 1.51%, to 11,434.74, and the S&P 500 advanced 37.25, or 0.95%, to 3,978.73.