Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Microsoft (MSFT) is in talks to invest $10B in ChatGPT maker OpenAI, according to Semafor [more]
- Apple (AAPL) is seeking to replace Broadcom (AVGO) Wi-Fi chips in its devices by 2025, as well as swapping out Qualcomm (QCOM) components, Bloomberg says [more]
- Bed Bath & Beyond (BBBY) reported downbeat Q3 results, with CEO Sue Gove saying the company is implementing a turnaround plan "expeditiously" [more]
- Coinbase (COIN) will cut its workforce by about 950 employees in a further restructuring [more]
- Accolade (ACCD) reported upbeat Q3 results and narrowed its FY23 revenue guidance [more]
2. WALL STREET CALLS:
- Boeing (BA) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
- AT&T (T) upgraded to Overweight from Equal Weight at Wells Fargo [more]
- KeyBanc upgraded Bumble (BMBL) to Overweight [more]
- Capital One (COF) and Ally Financial (ALLY) downgraded to Hold from Buy at Jefferies [more]
- Wells Fargo upgraded Agilent (A) to Overweight [more]
3. AROUND THE WEB:
- CVS Health (CVS) is exploring a $10B-plus takeover of Oak Street Health (OSH), Bloomberg reports [more]
- Best Buy-owned (BBY) Lively faces complaints after 3G shutdown, WSJ reports [more]
- Amazon (AMZN) will shut down three U.K. warehouses, Reuters reports [more]
- The FTC is probing Coca-Cola (KO) and PepsiCo (PEP) pricing, WSJ says [more]
- Pfizer (PFE) is working with a partner in China to make Paxlovid available, Bloomberg says [more]
4. MOVERS:
- Sotera Health (SHC) increases after settling an ethylene oxide litigation in Illinois for $408M [more]
- Frontline (FRO) higher in New York after terminating combination agreement with Euronav [more]
- Amarin Corporation (AMRN) rises in New York after reporting FY22 achievements, FY23 priorities, and Q4 guidance [more]
- BioAtla (BCAB) declines after providing clinical program updates and milestones for 2023 [more]
- Rayonier Advanced (RYAM) lower after RBC Capital cut the downgraded the stock to Sector Perform from Outperform [more]
5. EARNINGS/GUIDANCE:
- Shake Shack (SHAK) reported upbeat preliminary Q4 revenue [more]
- Icon (ICLR) provided upbeat FY23 earnings and revenue guidance [more]
- Albertsons (ACI) reported upbeat Q3 results [more]
- TD Synnex (SNX) reported better-than-expected Q4 results [more]
- Amarin (AMRN) provided upbeat Q4 revenue guidance [more]
INDEXES:
Near midday, the Dow was flat at 33,517.88, the Nasdaq was up 2.14, or 0.02%, to 10,637.79, and the S&P 500 was down 1.30, or 0.03%, to 3,890.79.