Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Broadcom (AVGO) announced an agreement to acquire VMware (VMW) in a cash-and-stock transaction that values the latter at approximately $61B [more]
- Tesla's (TSLA) Elon Musk disclosed he has committed to provide an additional $6.25B in equity financing for Twitter (TWTR) deal [more]
- Alibaba (BABA) reported an earnings beat that JPMorgan attributes to cost optimization initiatives [more]
- Macy's (M) reported better-than-expected Q1 results and raised its FY22 EPS view [more]
- Bloomberg said Apple (AAPL) is planning to keep iPhone production roughly flat in 2022 at about 220M units [more]
2. WALL STREET CALLS:
- UBS cuts Kraft Heinz (KHC) to Sell, sees private label trade-down risk not priced in [more]
- Lululemon (LULU) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
- Jefferies cuts Tesla (TSLA) price target on governance risk, challenging market [more]
- Centene (CNC) downgraded to Neutral from Buy at BofA [more]
- Cowen says Coinbase (COIN) "built to last," starts at Outperform [more]
3. AROUND THE WEB:
- Blackstone (BX) fund buying rights to Justin Timberlake's song catalog, WSJ reports [more]
- Hacker stole database with info on Verizon (VZ) employees, Vice reports [more]
- Production of Apple's (AAPL) iPhone 14 Max seen being "weeks" behind schedule, MacRumors reports [more]
- Twitter (TWTR) investors vote to remove Silver Lake's Durban from board, CNBC reports [more]
- Amazon (AMZN) shareholders approved CEO pay package, voted down proposals on unionization, Seattle Times reports [more]
4. MOVERS:
- Dollar General (DG) and Dollar Tree (DLTR) both jumped after Q1 results beat estimates [more]
- Baidu (BIDU) rose in New York trading after reporting first quarter results [more]
- Modine Manufacturing (MOD) advanced after its Q4 report and FY23 guidance [more]
- ViaSat (VSAT) fell after issuing shareholder letter for Q4 and offering FY23 guidance [more]
- TrueBlue (TBI) declined after stock was downgraded to Market Perform at BMO Capital [more]
5. EARNINGS/GUIDANCE:
- Nvidia (NVDA) reported "strong" April results, but gave below-consensus Q2 guidance [more]
- Nutanix (NTNX) was downgraded at BofA and William Blair after guiding Q4 ACV billings, revenue and free cash flow lower and not reaffirming its FY23 targets [more]
- Medtronic (MDT) reported Q4 earnings and revenue below estimates [more]
- Williams-Sonoma (WSM) reported a Q1 earnings beat and reaffirmed FY22 guidance [more]
- Snowflake (SNOW) reported what several analysts called "solid" Q1 results, but management commentary around slower consumption at consumer-facing clouds in April "hit a nerve with investors" [more]
INDEXES:
The Dow rose 516.91, or 1.61%, to 32,637.19, the Nasdaq gained 305.91, or 2.68%, to 11,740.65, and the S&P 500 advanced 79.11, or 1.99%, to 4,057.84.