Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- AMD (AMD) reported much lower-than-expected preliminary Q3 revenue [more]
- CVS (CVS) said that 2024 revenue will likely take a hit as one of its Aetna health plans' Star Ratings was downgraded by the Centers for Medicare & Medicaid Services [more]
- Meanwhile, CVS is in exclusive talks to acquire Cano Health (CANO), according to Bloomberg [more]
- Bank of America (BAC) will pay $1.84B to Ambac Financial (AMBC) to resolve pending lawsuits [more]
- Levi Strauss (LEVI) reported mixed Q3 results and cut FY22 earnings guidance [more]
2. WALL STREET CALLS:
- Lyft (LYFT) cut to Sector Perform at RBC Capital amid Uber's (UBER) "competitive intensity" [more]
- Zoom Video (ZM) cut to Neutral from Overweight at JPMorgan as new analyst assumes coverage [more]
- Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette [more]
- Norfolk Southern (NSC) downgraded to Neutral at Baird on recession scenario [more]
- Needham initiated coverage of Unity (U) with a Buy rating and $50 price target [more]
3. AROUND THE WEB:
- DraftKings (DKNG) and Disney's (DIS) ESPN are near signing an exclusive deal, Action Network reports [more]
- A former J&J (JNJ) executive has emerged as a top candidate to become Biogen (BIIB) CEO, STAT News says [more]
- Meta (META) sued app developers over WhatsApp account theft, Bleeping Computer says [more]
- Apple (AAPL) is preparing for 2nm chips, DigiTimes reports [more]
- Google (GOOGL) contractors claim they were fired for union support, Bloomberg says [more]
4. MOVERS:
- Payoneer Global (PAYO) rises after being named to join the S&P 600 [more]
- DexCom (DXCM) gains after bullish analyst comments on a proposed local coverage determination that would provide coverage for basal insulin patients [more]
- Credit Suisse (CS) higher in New York after announcing plans to buy back $3B in debt [more]
- Lithium Americas (LAC) falls after confirming a hearing schedule for the Thacker Pass Record of Decision appeal [more]
- Allogene Therapeutics (ALLO) lower after announcing the initiation of the ALLO-501A trial [more]
5. EARNINGS/GUIDANCE:
- Accolade (ACCD) provided a "beat and raise" report for Q2 [more]
- Aehr Test Systems (AEHR) reported upbeat Q1 results [more]
- Tilray (TLRY) reported mixed Q1 results [more]
- Open Lending (LPRO) reiterated FY22 guidance along with a announcing a CEO change [more]
- Nurix Therapeutics (NRIX) reported mixed Q3 results [more]
INDEXES:
Near midday, the Dow was down 489.25, or 1.63%, to 29,437.69, the Nasdaq was down 336.64, or 3.04%, to 10,736.67, and the S&P 500 was down 81.60, or 2.18%, to 3,662.92.