Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- After Elon Musk yesterday offered to proceed with his deal to buy Twitter (TWTR) on the previous acquisition terms, he tweeted that "Buying Twitter is an accelerant to creating X, the everything app." [more]
- The game director of Overwatch 2 tweeted Tuesday night on "progress on server issues and stability," as well as working through a second DDoS attack after Blizzard Entertainment's (ATVI) president had previously said that the game, which launched Tuesday, was experiencing a mass DDoS attack on its servers [more]
- Lamb Weston (LW) reported better-than-expected Q1 earnings and backed its FY23 adjusted EPS view [more]
- Helen of Troy (HELE) reported better-than-expected Q2 results, but lowered its FY23 view and announced a restructuring plan [more]
- Emerson Electric (EMR) is in discussions with Blackstone (BX) about selling part of its commercial and residential business operations, Bloomberg reported [more]
2. WALL STREET CALLS:
- Morgan Stanley upgrades Ford (F) to Overweight, prefers over General Motors (GM) [more]
- Atlantic Equities downgrades Goldman (GS) to sell on declining banking activity, downgrades Morgan Stanley (MS) to Neutral due to "optimistic" estimates [more]
- Deutsche Bank upgrades Church & Dwight (CHD) with skepticism seen being priced in [more]
- Musk has more Tesla (TSLA) to sell for Twitter deal, says Gordon Haskett [more]
- Susquehanna upgraded Silicon Motion (SIMO) to Positive from Neutral [more]
3. AROUND THE WEB:
- OPEC+ agreed to its biggest cut since the start of the pandemic with plan to allow two million barrels a day less in production, WSJ reports [more]
- Twitter (TWTR), Musk have not reached deal to end litigation, Reuters says [more]
- Amazon (AMZN) discontinuing Glow video calling device for kids, Bloomberg reports [more]
- Apple (AAPL) asks suppliers to shift AirPods, Beats production to India, Nikkei reports [more]
- HSBC (HSBC) weighs sale of Canadian business, Reuters reports [more]
4. MOVERS:
- Schlumberger (SLB) higher after partnering with Gradient to reduce water needs in lithium extraction [more]
- Sotera Health (SHC) slides after being downgraded to Neutral on increased risk at Citi [more]
- Golden Ocean Group (GOGL) rises in New York after it board authorized a $100M share buy-back program [more]
- Lumen Technologies (LUMN) lower after Wells Fargo downgraded the stock to Equal Weight [more]
- Joby Aviation (JOBY) falls after filing a $1B mixed securities shelf [more]
5. EARNINGS/GUIDANCE:
- SGH (SGH) reported better-than-expected Q4 earnings and revenue [more]
- Schnitzer Steel (SCHN) guided to Q4 adjusted earnings below consensus [more]
- RPM (RPM) reported better-than-expected Q1 earnings and revenue [more]
- Byrna Technologies (BYRN) reported Q3 losses on lower-than-expected sales [more]
- Radiant Logistics (RLGT) said it will restate its FY21 audited financial statements [more]
INDEXES:
Near midday, the Dow was down 327.01, or 1.08%, to 29,989.31, the Nasdaq was down 197.07, or 1.76%, to 10,979.33, and the S&P 500 was down 50.97, or 1.34%, to 3,739.96.