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]
- The Federal Reserve said in its latest Beige Book report that economic activity was "relatively unchanged" since the last report [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]
- 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]
- Chesapeake Energy (CHK) will sell its south Texas operations for $1.4B, Reuters reports [more]
- Twitter (TWTR) ad executive Chris Riedy said revenue fell about 35% in Q4, The Information 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:
- PNC Financial (PNC) reported downbeat Q4 earnings [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:
The Dow fell 613.89, or 1.81%, to 33,296.96, the Nasdaq lost 138.10, or 1.24%, to 10,957.01, and the S&P 500 declined 62.11, or 1.56%, to 3,928.86.