Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Xylem (XYL) will acquire Evoqua Water (AQUA) in a $7.5B all-stock transaction [more]
- Inclusive Capital and Elliott Management have reportedly taken stakes in Salesforce (CRM) [more]
- Spotify (SPOT) is reducing its workforce by about 6% [more]
- Baker Hughes (BKR) reported downbeat Q4 results [more]
- Synchrony (SYF) reported better-than-expected Q4 earnings [more]
2. WALL STREET CALLS:
- Wayfair (W) was double upgraded at both JPMorgan and BofA and raised to Outperform at Wedbush following the company's "very aggressive" cost-cutting actions [more]
- Barclays upgraded AMD (AMD) and Qualcomm (QCOM) to Overweight while downgrading Applied Materials (AMAT) to Underweight [more]
- MKM Partners cuts Zoom Video (ZM) to Neutral, sees limited upside in Meetings growth [more]
- Deutsche Bank upgraded Shopify (SHOP) to Buy [more]
- Barclays downgraded Tapestry (TPR) to Equal Weight [more]
3. AROUND THE WEB:
- Big banks such as Wells Fargo (WFC) and Bank of America (BAC) are teaming up to launch a digital wallet to compete with PayPal (PYPL), WSJ reports [more]
- Goldman's (GS) asset management unit will cut alternative investments, Reuters reports [more]
- Western Digital (WDC) and Kioxia are progressing in merger talks, Bloomberg reports [more]
- JPMorgan (JPM) filed a lawsuit against Frank, NY Times reports [more]
- Airbus (EADSY) is planning a spinoff of its high-altitude drone program Zephyr, FT reports [more]
4. MOVERS:
- Pliant Therapeutics (PLRX) higher after announcing data from its INTEGRIS-IPF Phase 2a trial [more]
- Lucid Group (LCID) gains after Citi resumed coverage of the stock with a Buy rating [more]
- Catalyst Pharmaceuticals (CPRX) decreases after being notified that Teva Pharmaceuticals (TEVA) submitted an ANDA to the U.S. FDA for FIRDAPSE [more]
- Agenus (AGEN) lower after presenting data from its MSS CRC 70 patient cohort of a Phase 1b study of balstilimab [more]
- American Tower (AMT) falls after KeyBanc downgraded to stock to Sector Weight from Overweight [more]
5. EARNINGS/GUIDANCE:
- Peoples Bancorp (PEBK) reported a year-over-year increase in Q4 earnings [more]
- Caesars (CZR) reported upbeat preliminary Q4 revenue [more]
- Bank of Marin (BMRC) reported better-than-expected Q4 results [more]
- Northwest Bancshares (NWBI) reported downbeat Q4 earnings and said it will reduce its workforce about 12% [more]
- Bank of Hawaii (BOH) reported upbeat Q4 earnings [more]
INDEXES:
Near midday, the Dow was up 327.70, or 0.98%, to 33,703.19, the Nasdaq was up 227.58, or 2.04%, to 11,368.02, and the S&P 500 was up 55.16, or 1.39%, to 4,027.77.