Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Microsoft (MSFT) confirmed it will reduce its workforce by roughly 10,000 employees [more]
- Moderna (MRNA) announced its respiratory syncytial virus, or RSV, vaccine mRNA-1345 has met primary efficacy endpoints in a study [more]
- United Airlines (UAL) reported upbeat Q4 results [more]
- SmileDirectClub (SDC) reported better-than-expected Q3 results but tightened its FY22 revenue outlook [more]
- PNC Financial (PNC) reported downbeat Q4 earnings [more]
2. WALL STREET CALLS:
- IBM (IBM) downgraded to Equal Weight at Morgan Stanley in shift away from defense [more]
- Citi downgrades Morgan Stanley (MS), sees strong outlook as priced in [more]
- Gap (GPS) upgraded to Equal Weight from Underweight at Morgan Stanley [more]
- Oatly Group (OTLY) upgraded to Buy at Mizuho with bearish sentiment at peak [more]
- PayPal (PYPL) downgraded to Underperform from Neutral at SMBC Nikko [more]
3. AROUND THE WEB:
- Intuit (INTU) admits to MailChimp data breach, NY Post reports [more]
- Disney (DIS) announced that China cleared two Marvel movies for screening, WSJ reports [more]
- Amazon (AMZN) starts a fresh round of layoffs impacting 18,000 people, Bloomberg reports [more]
- Apple (AAPL) is working on a cheaper version of its mixed-reality headset, The Information reports [more]
- Netflix (NFLX) may reduce content spend amid slowing revenue growth, Reuters says [more]
4. MOVERS:
- Energy Vault (NRGV) higher after raising FY22 and Q4 guidance [more]
- Algoma Steel (ASTL) rises after being upgraded to Buy at Stifel [more]
- Mobileye (MBLY) increases in New York after Deutsche Bank initiated coverage of the stock with a Buy rating [more]
- Chegg (CHGG) lower after Needham downgraded the stock to Hold [more]
- Bluebird bio (BLUE) falls after announcing a 20M share offering [more]
5. EARNINGS/GUIDANCE:
- First Community (FCCO) reported mixed Q4 results [more]
- Evolus (EOLS) reported downbeat Q3 earnings and revenue [more]
- Charles Schwab (SCHW) reported lower-than-expected Q4 results [more]
- Prologis (PLD) reported upbeat Q4 results [more]
- J.B. Hunt (JBHT) reported lower-than-expected Q4 results [more]
INDEXES:
Near midday, the Dow was down 357.45, or 1.05%, to 33,553.40, the Nasdaq was down 80.33, or 0.72%, to 11,014.79, and the S&P 500 was down 33.38, or 0.84%, to 3,957.59.