Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Wells Fargo (WFC) exits the correspondent mortgage business, will reduce the size of mortgage servicing portfolio [more]
- U.S. flights were disrupted amid an outage of the FAA pilot advisory system, though the FAA says an earlier ground stop has been lifted [more]
- Franchise Group (FRG) could go private or may bid to buy Conn's (CONN), according to The Wall Street Journal [more]
- Tesla (TSLA) will reportedly spend $717M to build another 1.4M square feet at its Austin gigafactory, and is reportedly nearing a deal for an electric vehicle plant in Indonesia [more]
- Intuitive Surgical (ISRG) provided downbeat Q4 revenue guidance [more]
2. WALL STREET CALLS:
- Guggenheim upgrades Warner Bros. Discovery (WBD) to Buy, sees 31% potential upside [more]
- Salesforce (CRM) downgraded to Underperform from Market Perform at Bernstein [more]
- Coinbase (COIN) downgraded to Underperform at BofA on below-Street 2023 view [more]
- CarMax (KMX) downgraded to Underweight from Neutral at JPMorgan [more]
- Roth Capital upgraded JinkoSolar (JKS) to Buy [more]
3. AROUND THE WEB:
- WWE (WWE) has not been sold to Saudi Arabia's Public Investment Fund, TMZ reports [more]
- Blue Orca is short Stem (STEM), says company "has all the landmarks of a failed SPAC" [more]
- Boeing (BA) 737 MAX flights scheduled by China Southern for Friday, Reuters reports [more]
- FDA commissioner defends FDA's approval of Biogen's (BIIB) Aduhelm, WSJ reports [more]
- Disney (DIS) revises policies at its resorts after complaints, NY Times reports [more]
4. MOVERS:
- Livent (LTHM) higher after BofA upgraded the stock to Buy from Underperform [more]
- Ginkgo Bioworks (DNA) increases after backing its FY22 revenue view [more]
- Sabre (SABR) declines after BofA downgraded the stock to Underperform [more]
- Halozyme (HALO) lower after providing FY23 guidance and announcing anticipated key events in 2023 [more]
- GDS Holdings (GDS) falls in New York after announcing $580M convertible senior note offering [more]
5. EARNINGS/GUIDANCE:
- Veradigm (MDRX) announced a new $250M share repurchase program and provided FY23 earnings and revenue guidance [more]
- Victoria's Secret (VSCO) approved a new $250 share buyback and narrowed its Q4 earnings outlook [more]
- Axonics (AXNX) provided upbeat Q4 and FY23 revenue guidance [more]
- Tandem Diabetes (TNDM) provided upbeat FY22 revenue guidance [more]
- InMode (INMD) raised its FY22 earnings and revenue guidance [more]
INDEXES:
Near midday, the Dow was up 101.17, or 0.30%, to 33,805.27, the Nasdaq was up 108.74, or 1.01%, to 10,851.37, and the S&P 500 was up 24.68, or 0.63%, to 3,943.93.