Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Adobe (ADBE) reported upbeat Q4 earnings and reiterated FY23 earnings and revenue guidance [more]
- Accenture (ACN) provided a "beat and raise" report for Q1 [more]
- Darden (DRI) reported upbeat Q2 results and narrowed FY23 earnings guidance [more]
- Maxar Technologies (MAXR) agreed to be acquired by Advent International for $6.4B in cash [more]
- Trean Insurance (TIG) will be acquired by Altaris Capital for $6.15 per share in cash [more]
2. WALL STREET CALLS:
- Meta Platforms (META) upgraded to Overweight from Neutral at JPMorgan [more]
- BTIG upgrades Agilysys (AGYS) to Buy after "game-changing contract win" [more]
- Sarepta (SRPT) upgraded to Buy at UBS ahead of "highly likely" SRP-9001 approval [more]
- New York Times (NYT) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
- AvalonBay (AVB) downgraded to Underweight from Neutral at JPMorgan [more]
3. AROUND THE WEB:
- Avaya (AVYA) is nearing a Chapter 11 bankruptcy filing, WSJ reports [more]
- Goldman Sachs (GS) plans to lay off up to 4,000 employees, Semafor says [more]
- American Airlines (AAL) is tightening access to frequent-flier status, WSJ says [more]
- Twitter (TWTR) has suspended journalists at the New York Times (NYT) and CNN (WBD) covering Elon Musk and the company, NBC News reports [more]
- Apollo (APO) and EQT (EQBBF) will sell Direct ChassisLink for roughly $3.6B, Reuters reports [more]
4. MOVERS:
- Exact Sciences (EXAS) jumps after rival Guardant Health (GH) disclosed results from its three-year, pivotal ECLIPSE trial evaluating the performance of its blood-based test for detecting colorectal cancer [more]
- Planet Labs (PL) rises after Maxar Technologies (MAXR) agreed to go private [more]
- Guardant Health (GH) falls after announcing results from ECLIPSE [more]
- IMV Inc. (IMV) drops after announcing a $9M registered direct offering priced ATM [more]
- Gencor Industries (GENC) lower after reporting 2022 results [more]
5. EARNINGS/GUIDANCE:
- U.S. Steel (X) provided upbeat Q4 guidance [more]
- Travelzoo (TZOO) provided an upbeat Q4 revenue outlook [more]
- Centene (CNC) reiterated its FY22 outlook and provided FY23 guidance [more]
- Winnebago (WGO) reported upbeat Q1 results [more]
- Steel Dynamics (STLD) provided upbeat Q4 earnings guidance [more]
INDEXES:
Near midday, the Dow was down 455.75, or 1.37%, to 32,746.47, the Nasdaq was down 146.05, or 1.35%, to 10,664.48, and the S&P 500 was down 60.18, or 1.54%, to 3,835.57.