Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Activist investor Daniel Loeb has backed off from asking Disney (DIS) to spin off ESPN [more]
- JPMorgan (JPM) agreed to acquire Renovite Technologies [more]
- Twitter (TWTR) said that Tesla (TSLA) CEO Elon Musk's third purported termination is invalid [more]
- The FDA approved Bristol-Myers' (BMY) Sotyktu for moderate-to-severe psoriasis [more]
- General Electric (GE) is targeting a spin-off of GE HealthCare for the first week of January 2023 [more]
2. WALL STREET CALLS:
- Carvana (CVNA) upgraded to Overweight from Neutral at Piper Sandler [more]
- Adobe (ADBE) downgraded to Neutral at Mizuho ahead of earnings [more]
- Roblox (RBLX) initiated with an Underperform at Cowen [more]
- BofA called early iPhone pre-order data positive for Apple (AAPL), while Wedbush said iPhone 14 pre-order demand "looks robust" [more]
- Occidental (OXY) downgraded on "modest upside" after outperformance at Citi [more]
3. AROUND THE WEB:
- Amazon (AMZN) and Microsoft (MSFT) trades are being investigated in a DOJ short-selling probe, Bloomberg reports [more]
- Goldman Sachs (GS) is preparing for layoffs as dealmaking slows, NY Times reports [more]
- KKR (KKR) is in talks to sell a stake in Avendus Capital, Bloomberg says [more]
- Intel (INTC) has cut its Mobileye valuation and is weighing a delay for the planned IPO of the unit, Bloomberg reports [more]
- Synchrony's (SYF) CFO said the company would be a "natural partner" for PayPal (PYPL) as the payments giant looks to offload loan receivables, Bloomberg reports [more]
4. MOVERS:
- POINT Biopharma (PNT) gains after providing efficacy, safety data from Phase 3 SPLASH trial [more]
- APA (APA) higher after Citi upgraded the stock to Buy from Neutral with a price target of $58, up from $40 [more]
- Amgen (AMGN) lower after announcing results from its CodeBreaK 101 and 200 trials [more]
- Livent (LTHM) decreases after Vertical Research downgraded the stock to Hold from Buy with a price target of $35, up from $33 [more]
- bluebird bio (BLUE) declines after announcing Chief Strategy and Financial Officer Cole plans to leave the company [more]
5. EARNINGS/GUIDANCE:
- Akoustis (AKTS) reported downbeat Q4 results [more]
- Sigmatron (SGMA) reported a year-over-year drop in Q1 earnings [more]
- Red Cat (RCAT) reported mixed Q1 results [more]
- Restaurant Brands (QSR) outlined on Friday its expected annual negative adjusted EPS impact from its Burger King plan [more]
- Oracle (ORCL) is expected to report quarterly results after the close [more]
INDEXES:
The Dow rose 229.63, or 0.71%, to 32,381.34, the Nasdaq gained 154.10, or 1.27%, to 12,266.41, and the S&P 500 advanced 43.05, or 1.06%, to 4,110.41.