Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Meta Platforms (META) reported mixed Q4 results, meaningfully lowered its fiscal 2023 spending guidance and announced a $40B increase in its share repurchase authorization [more]
- Merck (MRK) reported upbeat Q4 earnings and revenue but provided downbeat FY23 earnings guidance [more]
- Eli Lilly (LLY) issued a "beat and raise" report for Q4 [more]
- Honeywell (HON) reported mixed Q4 results [more]
- Qorvo (QRVO) reported better-than-expected Q3 earnings and revenue [more]
2. WALL STREET CALLS:
- Meta Platforms (META) was upgraded at Piper Sandler, BofA and Rosenblatt following the company's Q4 report [more]
- FedEx (FDX) was upgraded to Buy at both Citi and BofA [more]
- Okta (OKTA) upgraded to Buy from Hold at Needham [more]
- Oppenheimer downgrades "show me story" Match Group (MTCH) to Perform [more]
- BofA downgraded First Solar (FSLR) to Neutral [more]
3. AROUND THE WEB:
- Apple (AAPL) is eliminating the design chief role when Evans Hankey departs, Bloomberg reports [more]
- Bed Bath & Beyond (BBBY) misses interest payments, weighs Chapter 11, WSJ reports [more]
- Electronic Arts (EA) canceled an unannounced "Apex Legends" title, Bloomberg says [more]
- Democratic Senator Michael Bennet joined calls to ban TikTok, WSJ reports [more]
- Tesla (TSLA) plans to ramp up Shanghai production, Reuters reports [more]
4. MOVERS:
- 8x8 (EGHT) and Janus Henderson (JHG) increase in New York after reporting quarterly results [more]
- Invitae (NVTA) higher after Cathie Wood’s ARK Investment bought 109,000 shares of the company [more]
- Motorsport Games (MSGM) declines after announcing a $3.39M registered direct offering [more]
- Hanesbrands (HBI) falls after reporting quarterly results and providing guidance for Q1 and FY23 [more]
- Canada Goose (GOOS), Sallie Mae (SLM), Advanced Drainage (WMS), and ChampionX (CHX) lower in New York after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Align Technology (ALGN) reported upbeat Q4 results [more]
- Estee Lauder (EL) reported better-than-expected Q2 earnings and revenue [more]
- Harley-Davidson (HOG) reported upbeat Q4 results [more]
- Hershey (HSY) reported better-than-expected Q4 results [more]
- Digi International (DGII) reported upbeat Q4 earnings and revenue [more]
INDEXES:
Near midday, the Dow was down 171.48, or 0.50%, to 33,921.48, the Nasdaq was up 327.89, or 2.77%, to 12,144.21, and the S&P 500 was up 50.92, or 1.24%, to 4,170.13.