Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- General Motors (GM) reported better-than-expected Q4 results and gave upbeat FY23 earnings guidance [more]
- Meanwhile, GM announced it will invest $650M in Lithium Americas (LAC) to develop the Thacker Pass mine [more]
- Exxon Mobil (XOM) reported better-than-expected Q4 earnings and revenue [more]
- Pfizer (PFE) reported upbeat Q4 earnings and provided downbeat FY23 guidance [more]
- PayPal (PYPL) is reducing its global workforce by about 2,000 full time employees [more]
2. WALL STREET CALLS:
- Paramount (PARA) downgraded to Underperform at Macquarie on high ad exposure [more]
- Invitae (NVTA) downgraded to Sell from Neutral at Goldman Sachs [more]
- Bank of America (BAC) downgraded to Neutral from Overweight at Atlantic Equities [more]
- William Blair upgraded FibroGen (FGEN) to Outperform on pamrevlumab's potential [more]
- LightShed Partners initiated coverage of Meta Platforms (META) with a Buy rating and $200 target [more]
3. AROUND THE WEB:
- Warner Bros. Discovery (WBD) reaches deals with Roku (ROKU) and Fox's (FOX) Tubi for FAST channels, Reuters reports [more]
- AbbVie's (ABBV) Humira drug faces competition in the U.S., FT reports [more]
- Tesla (TSLA) considering plant near new Mexico City airport, Reuters reports [more]
- Airbus (EADSY) and Qatar Airways are moving closer to an agreement over A350 dispute, Reuters reports [more]
- Senators question Silvergate (SI) over ties to FTX, Bloomberg reports [more]
4. MOVERS:
- Atlas Technical Consultants (ATCX) surges after agreeing to be acquired by GI Partners for $12.25 per share [more]
- Green Plains (GPRE) gains after forming a joint venture with United Airlines (UAL) for ethanol aviation fuel and after investor Ancora urged a "full sale" of the company [more]
- Allegro MicroSystems (ALGM) and PulteGroup (PHM) rise after reporting quarterly results [more]
- Bed Bath & Beyond (BBBY) declines after Reuters reported the company is preparing to seek bankruptcy protection [more]
- BigBear.ai (BBAI) lower after filing a 27.78M share offering [more]
5. EARNINGS/GUIDANCE:
- Caterpillar (CAT) reported mixed Q4 results [more]
- McDonald's (MCD) reported upbeat Q4 results [more]
- Spotify (SPOT) reported a year-over-year decline in Q4 earnings [more]
- Sysco (SYY) reported mixed Q2 results [more]
- Victoria's Secret (VSCO) raised its Q4 earnings and revenue guidance [more]
INDEXES:
The Dow rose 368.95, or 1.09%, to 34,086.04, the Nasdaq gained 190.74, or 1.67%, to 11,584.55, and the S&P 500 advanced 58.83, or 1.46%, to 4,076.60.