Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Procter & Gamble (PG) reported upbeat Q2 results and raised its FY23 sales growth outlook [more]
- Alcoa (AA) reported better-than-expected Q4 results but provided downbeat 2023 alumina shipment guidance [more]
- Allstate (ALL) expects a Q4 net loss of $335M-$385M [more]
- Discover (DFS) slips after Q4 earnings and FY23 guidance [more]
- Fastenal (FAST) reported better-than-expected Q4 results [more]
2. WALL STREET CALLS:
- Roblox (RBLX) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- Philip Morris (PM) upgraded at Jefferies as tobacco sentiment may "finally" improve [more]
- IBM (IBM) upgraded to Market Perform from Underperform at MoffettNathanson [more]
- Charles Schwab (SCHW) double downgraded to Underperform at BofA [more]
- MoffettNathanson downgraded Cognizant (CTSH) and DXC (DXC) to Underperform [more]
3. AROUND THE WEB:
- Apple (AAPL) will expand its smart-home lineup with new smart displays, Bloomberg reports [more]
- Planet Fitness (PLNT) received "hundreds" of consumer complaints, says The Bear Cave [more]
- FIS (FIS) takeover rumors mentioned in Betaville blog [more]
- Uber (UBER) is working to design lower cost EVs customized for ride sharing, WSJ reports [more]
- Amazon (AMZN) cited for safety violations at three warehouses by OSHA, WSJ says [more]
4. MOVERS:
- Concert Pharmaceuticals (CNCE) higher after entering a definitive agreement to be acquired by Sun Pharmaceuticals for $8 per share plus a non-tradeable contingent value right [more]
- CureVac (CVAC) gains in New York after UBS upgraded the stock to Buy [more]
- Super Micro Computer (SMCI) falls after updating its Q2 guidance [more]
- Ardelyx (ARDX) lower after filing a $250M mixed securities shelf [more]
- Charles Schwab (SCHW) down after BofA double downgraded the stock to Underperform [more]
5. EARNINGS/GUIDANCE:
- Westamerica (WABC) reported upbeat Q4 earnings [more]
- The Hanover (THG) provided downbeat Q4 earnings guidance [more]
- Comerica (CMA) reported better-than-expected Q4 earnings [more]
- InterDigital (IDCC) reported upbeat Q4 results [more]
- LiveOne (LVO) raised its FY23 adjusted EBITDA guidance [more]
INDEXES:
Near midday, the Dow was down 285.94, or 0.86%, to 33,011.02, the Nasdaq was down 141.91, or 1.30%, to 10,815.10, and the S&P 500 was down 40.03, or 1.02%, to 3,888.83.