Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Qualcomm (QCOM) reported upbeat Q4 results but provided worse-than-expected Q1 guidance [more]
- eBay (EBAY) provided a "beat and raise" report for Q3 [more]
- Moderna (MRNA) reported downbeat Q3 earnings and revenue [more]
- Qorvo (QRVO) reported better-than-expected Q2 results but provided downbeat Q3 guidance [more]
- Amazon (AMZN) has paused new corporate hiring, citing the "uncertain" economy [more]
2. WALL STREET CALLS:
- JPMorgan double downgrades Qorvo (QRVO) on headwinds, "bloated" inventories [more]
- Rapid7 (RPD) downgraded to Neutral from Buy at Mizuho and cut to Hold at Truist amid execution issues [more]
- Alkermes (ALKS) upgraded to Overweight from Neutral at Piper Sandler [more]
- Roku (ROKU) was downgraded to Neutral at Rosenblatt and Guggenheim following the company's guidance [more]
- Zillow Group (ZG) downgraded to Hold on macro pressures at Canaccord [more]
3. AROUND THE WEB:
- Chanos is short Live Nation (LYV), ValueWalk says [more]
- Sempra (SRE) plans to build a new natural gas export terminal on the U.S. Gulf Coast, WSJ reports [more]
- The DOJ is preparing an investigation into Adobe's (ADBE) acquisition of Figma, Politico reports [more]
- American Axle (AXL) is attracting preliminary interest from suitors, Bloomberg reports [more]
- Gucci owner Kering (PPRUY) is in advanced talks to buy Tom Ford, WSJ says [more]
4. MOVERS:
- Vimeo (VMEO) rises after reporting quarterly results and providing FY22 revenue guidance [more]
- Provention Bio (PRVB) and Infinera (INFN) higher after reporting quarterly results [more]
- Aurinia Pharmaceuticals (AUPH) lower in New York after reporting quarterly results and lowering its FY22 revenue guidance [more]
- Lumen (LUMN) falls after reporting quarterly results and announcing a pact for the proposed sale of EMEA business to Colt [more]
- Lincoln National (LNC), Altice USA (ATUS), and CommScope (COMM) decline after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Roku (ROKU) reported upbeat Q3 results but provided a lower-than-expected Q4 revenue outlook [more]
- Peloton (PTON) reported downbeat Q1 results [more]
- Robinhood (HOOD) reported upbeat Q3 earnings and revenue [more]
- Etsy (ETSY) reported mixed Q3 results [more]
- Pinnacle West (PNW) provided a "beat and raise" report for Q3 [more]
INDEXES:
The Dow fell 146.51, or 0.46%, to 32,001.25, the Nasdaq lost 181.86, or 1.73%, to 10,342.94, and the S&P 500 declined 39.80, or 1.06%, to 3,719.89.