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]
- PE firms made approaches to Sumo Logic (SUMO) about acquisition, The Information says [more]
- Western Digital (WDC) and Kioxia are progressing in merger talks, Bloomberg reports [more]
- The IG Metall union said that Ford (F) will slash up to 3,200 European jobs, Reuters says [more]
- Apple (AAPL) discussed VR content for its headset with Disney (DIS) and Dolby (DLB), Bloomberg says [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:
The Dow rose 254.07, or 0.76%, to 33,629.56, the Nasdaq gained 223.98, or 2.01%, to 11,364.41, and the S&P 500 advanced 47.20, or 1.19%, to 4,019.81.