Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Salesforce (CRM) posted what Barclays analyst Raimo Lenschow called a "good enough" quarter when considering the lowered expectations from investors heading into the print [more]
- HP Inc. (HPQ) beat fiscal Q2 estimates, but analyst at Morgan Stanley and Barclays remain cautious on the stock [more]
- S&P Global (SPGI) announced that it is suspending financial guidance for FY22 given how macroeconomic conditions have deteriorated [more]
- Delta Air Lines (DAL) said it sees its June quarter revenue "fully restored" to 2019 levels [more]
- Forbes Global Media and SeatGeek each reported plans to scrap their previously announced SPAC merger deals [more]
2. WALL STREET CALLS:
- Tempur Sealy downgraded to Neutral at Piper Sandler after "disappointing" checks on Memorial Day weekend sales [more]
- Maxim upgrades Vertex Pharmaceuticals (VRTX) to Buy as company expands beyond CF [more]
- Blueprint Medicines (BPMC) raised to Buy at Jefferies after physician survey on Ayvakit [more]
- GoodRx (GDRX) downgraded to Neutral from Outperform at Baird [more]
- Medtronic (MDT) downgraded to Neutral from Overweight at Atlantic Equities [more]
3. AROUND THE WEB:
- Apple (AAPL) to move some iPad production out of China, Nikkei reports [more]
- Hindenburg Research announces short position in Enochian Biosciences (ENOB) [more]
- "Buy now, pay later" companies impacted by late payments, losses, WSJ reports [more]
- Tesla (TSLA) CEO Musk demands executives return to office, Bloomberg reports [more]
- U.S. Supreme Court suspends Texas social media law, Bloomberg reports [more]
4. MOVERS:
- CareMax (CMAX) rose after announcing it will acquire the Medicare value-based care business of Steward for a combination of cash and stock [more]
- Nio (NIO) higher in New York after announcing May delivery results [more]
- Bark (BARK) drops after reporting fourth quarter results [more]
- LexinFintech (LX) lower in New York after CLSA downgraded the stock to Sell from Outperform [more]
- Bitfarms (BITF) declines in New York after providing a Bitcoin production update for May [more]
5. EARNINGS/GUIDANCE:
- Victoria's Secret (VSCO) reported better-than-expected Q1 earnings [more]
- Capri Holdings (CPRI) announced better-than-expected results and guidance and approved a new $1B share repurchase program [more]
- Ambarella (AMBA) reported in-line April quarter revenue, but its July quarter outlook was lower than expected due to China lockdowns [more]
- Digital Turbine (APPS) reported fiscal Q4 net revenue growth and adjusted EBITDA below consensus and was called out by Oppenheimer analyst Timothy Horan as the latest company to "flag a sudden downshift in customer demand" [more]
- Humana (HUM) backed its FY22 adjusted EPS view [more]
INDEXES:
Near midday, the Dow was down 353.42, or 1.07%, to 32,636.70, the Nasdaq was down 148.57, or 1.23%), to 11,932.82, and the S&P 500 was down 50.62, or 1.23%, to 4,081.53.