Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Goldman Sachs (GS) reported downbeat Q4 results, noting it conducted a 6% headcount reduction earlier this month [more]
- Morgan Stanley (MS) reported upbeat Q4 results, noting that the macro backdrop created challenges in 2022 [more]
- Emerson (EMR) submitted a proposal to acquire National Instruments (NATI) for $53 per share [more]
- Disney (DIS) said that Nelson Peltz "lacks skills and experience" to help board deliver value [more]
- Activist investor Ryan Cohen built a stake in Alibaba (BABA), according to The Wall Street Journal [more]
2. WALL STREET CALLS:
- Snap (SNAP) downgraded to Market Perform from Outperform at JMP Securities [more]
- Microsoft (MSFT) downgraded to Sell from Neutral at Guggenheim [more]
- Pfizer (PFE) downgraded to Equal Weight from Overweight at Wells Fargo [more]
- Cheesecake Factory (CAKE) downgraded at Gordon Haskett and at Citi [more]
- Morgan Stanley upgraded Domino's Pizza (DPZ) to Overweight as a new analyst assumed coverage [more]
3. AROUND THE WEB:
- Greenlight took a "medium-sized" position in Tenet Healthcare (THC) in Q4, Bloomberg reports [more]
- XPeng (XPEV) follows Tesla (TSLA) with price cuts in China, Reuters reports [more]
- ESPN/ABC spin or sale could be on the table for Disney (DIS), NY Post says [more]
- Microsoft (MSFT) is preparing to cut thousands of positions, Sky News reports [more]
- Unity Software (U) lays off more workers, WSJ says [more]
4. MOVERS:
- Silvergate (SI) higher after reporting quarterly results [more]
- Carvana (CVNA) gains after adopting shareholder rights plan to preserve availability of NOLs [more]
- Grab Holdings (GRAB) increases in New York after BofA upgraded the stock to Buy from Neutral [more]
- BigBear.ai (BBAI) lower after announcing $25M private placement [more]
- iQIYI (IQ) falls in New York after announcing a 76.5M share offering [more]
5. EARNINGS/GUIDANCE:
- Travelers (TRV) provided downbeat Q4 core earnings guidance [more]
- Zynex (ZYXI) reiterated its Q4 revenue guidance [more]
- Tabula Rasa HealthCare (TRHC) raised its Q4 revenue outlook [more]
- Citizens Financial (CFG) reported upbeat Q4 earnings [more]
- Guaranty Bancshares (GNTY) reported better-than-expected Q4 results [more]
INDEXES:
The Dow fell 391.76, or 1.14%, to 33,910.85, the Nasdaq gained 15.96, or 0.14%, to 11,095.11, and the S&P 500 declined 8.12, or 0.20%, to 3,990.97.