Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- FedEx (FDX) reported Q1 results and provided cost savings plans, saying it expects to generate cost savings of $2.2B-$2.7B in FY23 [more]
- Costco (COST) reported upbeat Q4 results, with comp sales rising 14.7% year-over-year [more]
- Jana Partners reported a nearly 10% stake in Freshpet (FRPT) and said it will seek talks with the company [more]
- Boeing (BA) will pay $200M to settle SEC charges related to the 737 MAX [more]
- General Motors (GM) will invest $760M in a Toledo, Ohio plant to prepare to make future battery electric trucks [more]
2. WALL STREET CALLS:
- FuboTV (FUBO) upgraded to Outperform from Neutral at Wedbush [more]
- Ally Financial (ALLY) downgraded to Equal Weight from Overweight at Wells Fargo [more]
- Evercore upgrades Spero (SPRO), quadruples target on GSK (GSK) partnership [more]
- Apollo Global (APO) upgraded to Neutral at BofA on more attractive valuation [more]
- Evercore (EVR) and Moelis (MC) were both downgraded to Sell from Neutral at UBS [more]
3. AROUND THE WEB:
- Foxconn (HNHPF) will set up a joint venture with Indika Energy in Indonesia, Nikkei Asia reports [more]
- Moderna (MRNA) COVID-19 booster shortage causes canceled appointments, WSJ reports [more]
- Amazon (AMZN) is walking back some employees' raises, Insider reports [more]
- Apple (AAPL) will replace PepsiCo (PEP) as the main sponsor for the Super Bowl halftime show, NY Times reports [more]
- Blackstone (BX) plans to sell a stake worth up to $400M in India's Embassy Office Parks REIT, Reuters reports [more]
4. MOVERS:
- Cano Health (CANO) up after the Wall Street Journal reported Humana (HUM) and others are considering buying the company [more]
- Medigus (MDGS) rises in New York after reporting first half results [more]
- Credit Suisse (CS) lower in New York after CNBC said the company is not pursuing plans to raise capital and is planning to introduce a new strategic plan in October [more]
- Oil-linked names such as APA Corp. (APA), Halliburton (HAL), and Marathon Oil (MRO) decline amid slide in oil prices [more]
- Yeti Holdings (YETI) falls after announcing the resignation of CFO Paul Carbone [more]
5. EARNINGS/GUIDANCE:
- Daseke (DSKE) reaffirmed its 2022 revenue guidance [more]
- Ibex (IBEX) reported downbeat Q4 results [more]
- American Public Education (APEI) provided FY22 revenue guidance [more]
- Flux Power (FLUX) reported upbeat Q4 results [more]
- AAR Corp. (AIR) reported better-than-expected Q1 results [more]
INDEXES:
The Dow fell 486.27, or 1.62%, to 29,590.41, the Nasdaq lost 198.88, or 1.80%, to 10,867.93, and the S&P 500 declined 64.76, or 1.72%, to 3,693.23.