Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- HP Inc. (HPQ) reported downbeat Q3 revenue and lowered its FY22 earnings guidance [more]
- Bed Bath & Beyond (BBBY) announced a number of strategic changes, including a realignment of its executive leadership team, the exit of a third of its owned brands, the closure of 150 stores, and a 20% reduction in its corporate and supply chain workforce [more]
- Seagate (STX) lowered its Q1 earnings and revenue guidance [more]
- Crowdstrike (CRWD) provided a "beat and raise" report for Q2 [more]
- Snap (SNAP) announced a 20% reduction of full time workers, adding that its forward looking revenue visibility "remains limited" [more]
2. WALL STREET CALLS:
- Snap downgraded to Neutral from Buy at Citi [more]
- BofA upgrades PayPal (PYPL) to Buy on attractive risk/reward into initiatives [more]
- Robinhood (HOOD) downgraded to Underweight from Equal Weight at Barclays [more]
- ASML (ASML) upgraded to Buy from Neutral at UBS [more]
- Coinbase (COIN) initiated with an Equal Weight at Barclays [more]
3. AROUND THE WEB:
- Apple (AAPL) executive Adrian Perica quietly resigned from Didi's (DIDIY) board, Bloomberg reports [more]
- Wi-Fi fitness bike data shows Peloton (PTON) is in trouble, Protocol says [more]
- SunPower (SPWR) faces a class action suit over wage theft, SVBJ says [more]
- TSMC (TSM) plans to increase advanced packaging capacity by 2026, DigiTimes reports [more]
- Airbus (EADSY) is poised to win an order for 50 SE A220s from Jet Airways, Bloomberg says [more]
4. MOVERS:
- Rocket Lab (RKLB) gains after Cowen upgraded the stock to Outperform with a price target of $8, up from $6.50 [more]
- Tencent Music (TME) higher in New York after announcing a partnership with Billboard [more]
- Sorrento Therapeutics (SRNE) increases after the FDA granted fast track designation for SP-103 [more]
- PVH Corp. (PVH) and Ambarella (AMBA) fall after reporting quarterly results [more]
- Paysafe (PSFE) declines in New York after Susquehanna downgraded the stock to Neutral following a change in CFO [more]
5. EARNINGS/GUIDANCE:
- Vera Bradley (VRA) reported downbeat Q2 results [more]
- HP Enterprise (HPE) reported downbeat Q3 revenue [more]
- Chico's (CHS) reported upbeat Q2 results [more]
- Chewy (CHWY) reported mixed Q2 results [more]
- Barnes & Noble Education (BNED) reported upbeat Q1 revenue [more]
INDEXES:
Near midday, the Dow was up 12.36, or 0.04%, to 31,803.23, the Nasdaq was up 27.58, or 0.23%, to 11,910.71, and the S&P 500 was up 6.21, or 0.16%, to 3,992.37.