Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- The FTC announced it is seeking to block Microsoft (MSFT) from acquiring Activision Blizzard (ATVI) [more]
- Exxon Mobil (XOM) said it is targeting annual capital investments of $20B-$25B through 2027 while Chevron (CVX) announced a 2023 organic capex budget of $14B [more]
- Wolverine (WWW) initiated a workforce reduction and plans to divest its Keds and Leathers businesses [more]
- Ciena (CIEN) reported upbeat Q4 results [more]
- Rent The Runway (RENT) provided a "beat and raise" report for Q3 [more]
2. WALL STREET CALLS:
- Baird downgraded Salesforce (CRM) on macro and executive turnover concerns [more]
- Shopify (SHOP) initiated with a Sell rating at UBS [more]
- Argus upgraded AT&T (T) to Buy amid a focus on wireless and broadband expansion [more]
- UBS upgraded Hershey (HSY) to Buy and downgraded Mondelez (MDLZ) to Neutral [more]
- BTIG downgraded Unity (U) and AppLovin (APP) to Neutral from Buy [more]
3. AROUND THE WEB:
- Third Point sold its Cano Health (CANO) stake last week, Bloomberg reports [more]
- Glasshouse Research is short Catalent (CTLT), cites "accounting red flags" [more]
- Tesla (TSLA) will shorten Shanghai production shifts, Bloomberg says [more]
- Amazon (AMZN) is rolling out a TikTok-like feature called Inspire, WSJ reports [more]
- Spirit (SAVE) reached an agreement in principle on a new pilot contract, Bloomberg says [more]
4. MOVERS:
- Bilibili (BILI) gains in New York after UBS initiated the stock with a Buy rating and HK$250 price target [more]
- Hello Group (MOMO) and HashiCorp (HCP) higher in New York after reporting quarterly results [more]
- C3.ai (AI) rises after reporting quarterly results and providing guidance for Q3 [more]
- Design Therapeutics (DSGN) declines after reporting data from a single-ascending dose trial of DT-216 [more]
- Cutera (CUTR) falls after announcing a $100M notes offering [more]
5. EARNINGS/GUIDANCE:
- GameStop (GME) reported downbeat Q3 results [more]
- Sportsman's Warehouse (SPWH) reported upbeat Q3 results [more]
- Express (EXPR) reported downbeat Q3 results [more]
- Edwards Lifesciences (EW) reiterated its FY22 outlook [more]
- Korn Ferry (KFY) reported upbeat Q2 earnings and revenue [more]
INDEXES:
The Dow rose 183.56, or 0.55%, to 33,781.48, the Nasdaq gained 123.45, or 1.13%, to 11,082.00, and the S&P 500 advanced 29.59, or 0.75%, to 3,963.51.