Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Zendesk (ZEN) agreed to be acquired by an investor group in an all-cash transaction that values the company at approximately $10.2B, or $77.50 per share [more]
- FedEx (FDX) reported what JPMorgan analyst Brian Ossenbeck called "another messy quarter," though he raised the firm's price target and expects the shares to "modestly outperform" following last night's report [more]
- The Federal Reserve released annual bank stress test results, which showed that banks continue to have strong capital levels [more]
- Sanofi (SNY) and GlaxoSmithKline (GSK) said that their COVID-19 vaccine was "successful" against the omicron variant in a trial [more]
- DB Schenker will acquire USA Truck (USAK) for $31.72 per share in cash [more]
2. WALL STREET CALLS:
- Altria Group (MO) upgraded to Equal Weight from Underweight at Morgan Stanley [more]
- H.B. Fuller (FUL) downgraded to Underweight on lack of cash flow at JPMorgan [more]
- Wells Fargo upgrades "excellent defensive name" Becton Dickinson (BDX) to buy [more]
- Shopify (SHOP) resumed with an Equal Weight at Morgan Stanley [more]
- Ameriprise (AMP) downgraded to Neutral from Buy at Goldman Sachs [more]
3. AROUND THE WEB:
- Merck (MRK) is moving forward with a potential Seagen (SGEN) deal, WSJ reports [more]
- Twitter (TWTR) is giving Tesla (TSLA) CEO Elon Musk even more user data, Insider reports [more]
- Meta (META) removed support for its CrowdTangle tool, Bloomberg reports [more]
- Netflix (NFLX) confirmed that it is having talks for an ad-supported service, WSJ reports [more]
- SoftBank's (SFTBY) Masayoshi Son prefers U.S. share listing for Arm, FT reports [more]
4. MOVERS:
- Bausch Health (BHC) higher after announcing the resignation of chairman Joseph Papa and the appointment of John Paulson to the position [more]
- Wolfspeed (WOLF) gains after Goldman Sachs upgraded the stock to Buy from Neutral [more]
- Kanzhun (BZ) gains in New York after reporting quarterly results [more]
- Avya (AVYA) declines after announcing it sold $150M of 2027 secured notes [more]
- Futu Holdings (FUTU) falls in New York after JPMorgan downgraded the stock to Neutral from Overweight with an unchanged price target of $55 [more]
5. EARNINGS/GUIDANCE:
- CarMax (KMX) reported upbeat Q1 earnings and revenue [more]
- LendingTree (TREE) lowered its Q2 revenue guidance [more]
- Carnival (CCL) reported downbeat Q2 results [more]
- Quotient (QTNT) reported better-than-expected 2022 results [more]
- BlackBerry (BB) reported what TD Securities analyst Daniel Chan said was a "low-quality" Q1 beat [more]
INDEXES:
Near midday, the Dow was up 664.87, or 2.17%, to 31,342.23, the Nasdaq was up 262.37, or 2.34%, to 11,494.56, and the S&P 500 was up 91.13, or 2.40%, to 3,886.86.