Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Apple (AAPL) reported better-than-expected Q4 earnings and revenue [more]
- Amazon (AMZN) saw its market cap dip below $1T after giving a worse-than-expected holiday quarter sales outlook [more]
- Intel (INTC) reported better-than-expected Q3 results, but cut its FY22 earnings and revenue guidance [more]
- Exxon Mobil (XOM) reported mixed Q3 results while Chevron (CVX) reported upbeat Q3 results [more]
- AbbVie (ABBV) reported upbeat Q3 earnings, narrowed its FY22 earnings guidance, and raised its quarterly dividend [more]
2. WALL STREET CALLS:
- Barclays upgraded Intel (INTC) to Equal Weight from Underweight, as the firm sees a "bottom in sight," while Summit Insights upgraded Intel to Buy, telling investors the Q4 outlook and qualitative 2023 view "encapsulate most, if not all, the current challenges" [more]
- Gilead (GILD) upgraded to Overweight from Neutral at Piper Sandler and to Buy from Hold at Truist [more]
- Caterpillar (CAT) downgraded to Hold on lack of upside at Deutsche Bank [more]
- Piper Sandler upgrades Unity (U) ahead of potential buyback, deal [more]
- UBS downgraded Western Union (WU) to Sell from Neutral with a $12 price target [more]
3. AROUND THE WEB:
- Tesla (TSLA) is being probed over Autopilot claims by both the SEC and DOJ, WSJ says [more]
- Workers at the Starbucks (SBUX) and Amazon Go (AMZN) store in midtown Manhattan have filed a union election petition, CNBC reports [more]
- Peloton (PTON) co-founder John Foley doubled his pledge shares to cover margin calls, WSJ reports [more]
- The DOJ is investigating how poultry companies pay farmers, WSJ reports [more]
- Comcast (CMCSA) is mulling a sale of Sky Deutschland, Bloomberg says [more]
4. MOVERS:
- Nuvalent (NUVL) rises after announcing preliminary Phase 1 clinical data from its ARROS-1 trial [more]
- DexCom (DXCM) and 8x8 (EGHT) advance after reporting quarterly results [more]
- Arch Capital (ACGL) higher in New York after being named to join the S&P 500 [more]
- DaVita (DVA), Edwards Lifesciences (EW), and Eldorado Gold (EGO) lower in New York after reporting quarterly results [more]
- XPeng (XPEV) declines in New York after Citi double downgraded the stock to Sell [more]
5. EARNINGS/GUIDANCE:
- Colgate-Palmolive (CL) provided a "beat and raise" report for Q3 [more]
- T-Mobile (TMUS) reported upbeat Q3 earnings [more]
- Pinterest (PINS) reported better-than-expected quarterly results, though global MAUs were flat [more]
- Newmark (NMRK) reported downbeat Q3 earnings and revenue and cut its FY22 revenue guidance [more]
- Grainger (GWW) provided a "beat and raise" report for Q3 [more]
INDEXES:
Near midday, the Dow was up 641.31, or 2.00%, to 32,674.59, the Nasdaq was up 191.02, or 1.77%, to 10,983.70, and the S&P 500 was up 63.82, or 1.68%, to 3,871.12.