Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Oracle (ORCL) reported fiscal Q4 results that Deutsche Bank analyst Brad Zelnick called "exceptional" [more]
- Coinbase (COIN) announced that it is cutting about 18% of its workforce, will see $40M-$45M in charges from the job cuts [more]
- FedEx (FDX) announced a cooperation agreement with D. E. Shaw and increased its quarterly dividend [more]
- Continental Resources (CLR) said it received a $70 per share take private offer [more]
- Coca-Cola (KO) plans to delay the listing of Coca-Cola Beverages Africa [more]
2. WALL STREET CALLS:
- Benchmark downgrades Netflix (NFLX) back to Sell after "premature" upgrade [more]
- HP Enterprise (HPE) downgraded to Hold from Buy at Deutsche Bank [more]
- JPMorgan downgrades Coinbase (COIN) on "extreme decline" in crypto markets [more]
- As consumers shift from "wants" to "needs," BofA more bullish on Tractor Supply (TSCO) and less constructive on Best Buy (BBY) [more]
- NetApp (NTAP) upgraded to Buy from Hold at Deutsche Bank [more]
3. AROUND THE WEB:
- Netflix (NFLX) talked with Roku (ROKU) and Comcast (CMCSA) about ad sales, The Information reports [more]
- Ford (F) told dealers to stop selling electric Mustang Mach-E crossovers, CNBC reports [more]
- Culper is short Piedmont Lithium (PLL), sees "little hope" for battery-grade lithium [more]
- Dealreporter speculates on Quotient (QTNT) sale potential after change-in-control pacts [more]
- Alibaba (BABA) and Tencent (TCEHY) cloud divisions are lagging behind, FT reports [more]
4. MOVERS:
- National Vision (EYE) gains after being named to join the S&P 600 [more]
- Coty (COTY) advances after announcing FY22 guidance [more]
- Occidental Petroleum (OXY) rises after Barclays raised the firm's price target on the stock to $84 from $74 and kept an Overweight rating on the shares [more]
- Outset Medical (OM) declines after announcing a shipment hold has been placed on the new Tablo Systems and after suspending FY22 guidance [more]
- Redbox (RDBX) continues decline as it remains most active on Stocktwits [more]
5. EARNINGS/GUIDANCE:
- Braze (BRZE) provided "beat and raise" report for Q1 [more]
- Abercrombie & Fitch (ANF) set 2025 financial targets with $4.1B-$4.3B annual revenues [more]
- NextEra Energy (NEE) raised its adjusted EPS guidance for 2022-2025 [more]
- Core & Main (CNM) reported upbeat Q1 results [more]
- KAR Auction (KAR) sees 2021-2025 revenue CAGR of 13% [more]
INDEXES:
Near midday, the Dow was down 232.51, or 0.76%, to 30,284.23, the Nasdaq was up 17.84, or 0.17%, to 10,827.07, and the S&P 500 was down 17.05, or 0.45%, to 3,732.58.