Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Tesla (TSLA) cut prices on some models sold in the U.S., according to The Wall Street Journal [more]
- Several big banks reported quarterly results, with JPMorgan (JPM) and Bank of America (BAC) reporting upbeat overall results and Citi (C) and Wells Fargo (WFC) reporting mixed headline results [more]
- UnitedHealth (UNH) reported upbeat Q4 results and reiterated its FY23 earnings and revenue guidance [more]
- Delta Air Lines (DAL) reported better-than-expected Q4 results [more]
- Wendy's (WEN) provided Q4 and FY22 guidance, raised its quarterly dividend 100%, and announced a new $500M share repurchase program [more]
2. WALL STREET CALLS:
- Guggenheim downgraded Tesla (TSLA) to Sell, thinks estimates need reset amid price cuts [more]
- Salesforce (CRM) downgraded to Neutral from Overweight at Atlantic Equities [more]
- Goldman Sachs downgraded Lockheed Martin (LMT) and Northrop Grumman (NOC) to Sell from Neutral and cut Raytheon (RTX) to Neutral from Conviction Buy [more]
- BofA upgraded Caterpillar (CAT) to Buy from Neutral [more]
- Lennar (LEN) downgraded to Underperform, KB Home (KBH) downgraded to Sector Perform at RBC Capital [more]
3. AROUND THE WEB:
- Apple (AAPL) will split its Services division into three separate units, 9to5Mac reports [more]
- Toyota (TM) is considering a new EV-dedicated platform, WSJ reports [more]
- Southwest (LUV) is working to strengthen its crew scheduling system, WSJ reports [more]
- ConocoPhillips (COP) is in talks to sell oil from Venezuela in the U.S., WSJ says [more]
- Conagra (CAG) doesn't see need for "big" price hikes in 2023, WSJ says [more]
4. MOVERS:
- Virgin Galactic (SPCE) higher after announcing its commercial service remains on track to start in Q2 [more]
- National Instruments (NATI) gains after announcing the commencement of a strategic review process [more]
- Ares Capital (ARES) declines after announcing a 10.5M share offering [more]
- Warner Music (WMG) lower after Guggenheim downgraded the stock [more]
- Algonquin Power (AQN) falls in New York after Desjardins downgraded the stock to Sell [more]
5. EARNINGS/GUIDANCE:
- Hanesbrands (HBI) sees Q4 sales "slightly above" the top end of its outlook range [more]
- LendingClub (LC) narrowed its Q4 and FY22 revenue outlook [more]
- First Republic (FRC) reported upbeat Q4 earnings [more]
- BNY Mellon (BK) reported mixed Q4 results [more]
- BlackRock (BLK) reported upbeat Q4 results [more]
INDEXES:
Near midday, the Dow was up 6.62, or 0.02%, to 34,196.59, the Nasdaq was down 29.14, or 0.26%, to 10,971.97, and the S&P 500 was down 11.80, or 0.30%, to 3,971.37.