Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Hertz (HTZ) and BP (BP) signed a memorandum of understanding for an EV charger network [more]
- Provident Financial (PFS) and Lakeland Bancorp (LBAI) will combine in a $1.3B all-stock merger [more]
- Jabil Circuit (JBL) reported upbeat Q4 results and announced a $1B share repurchase program [more]
- Biogen (BIIB) agreed to pay $900M to settle a lawsuit over kickbacks [more]
- Ford (F) will invest $700M in a Kentucky plant to build pickups [more]
2. WALL STREET CALLS:
- Keurig Dr Pepper (KDP) downgraded to Neutral from Buy at Goldman Sachs [more]
- Hyatt (H) upgraded to Outperform at Evercore ISI on re-rating potential [more]
- Lucid Group (LCID) initiated with an Overweight at Cantor Fitzgerald [more]
- UBS downgraded CSX (CSX) and Norfolk Southern (NSC) to Neutral from Buy [more]
- Lion Electric (LEV) initiated with a Buy at B. Riley [more]
3. AROUND THE WEB:
- Tesla (TSLA) sees a "very high volume" of Q3-end deliveries, Electrek reports [more]
- InterContinental Hotels (IHG) business was disrupted due to a cyberattack, WSJ reports [more]
- TSMC (TSM) sees major fabless clients scale back orders for 2023, DigiTimes reports [more]
- Goldman Sachs (GS) has begun layoffs, targeting mid-level bankers, Insider reports [more]
- Apollo Global (APO) is looking into an acquisition of Ryder (R), Bloomberg reports [more]
4. MOVERS:
- Beauty Health (SKIN) rises after announcing a $200M share repurchase program [more]
- Novavax (NVAX) higher after announcing an initial 1M doses of its COVID-19 vaccines are now available in the U.K. [more]
- Harrow Health (HROW) jumps after announcing FDA approval of IHEEZO [more]
- Avidity Biosciences (RNA) lower after announcing the FDA placed a partial clinical hold on MARINA trial enrollment [more]
- Ocular Therapeutics (OCUL) declines after reporting interim data from Phase 1 clinical trial of OTX-TKI [more]
5. EARNINGS/GUIDANCE:
- Cracker Barrel (CBRL) reported upbeat Q4 earnings [more]
- United Natural Foods (UNFI) reported mixed Q4 results [more]
- Avient (AVNT) cut its Q3 and FY22 adjusted earnings guidance [more]
- Synnex (SNX) reported upbeat Q3 results [more]
- Splunk (SPLK) reiterated its Q3 and FY23 revenue guidance [more]
INDEXES:
The Dow fell 125.82, or 0.43%, to 29,134.99, the Nasdaq gained 26.58, or 0.25%, to 10,829.50, and the S&P 500 declined 7.75, or 0.21%, to 3,647.29.