Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Disney (DIS) reported upbeat Q1 results and announced restructuring plans that include cutting 7,000 jobs while Trian Fund concluded its proxy campaign with the company by withdrawing its Peltz board nomination [more]
- Abbott (ABT) will acquire Cardiovascular Systems (CSII) for $20 per share [more]
- PepsiCo (PEP) reported better-than-expected Q4 earnings and revenue [more]
- Post Holdings (POST) will acquire select pet food brands from J.M. Smucker (SJM) for $1.2B [more]
- NuVasive (NUVA) and Globus Medical (GMED) agreed to combine in an all-stock transaction [more]
2. WALL STREET CALLS:
- DraftKings (DKNG) downgraded to Sell from Neutral at Roth MKM [more]
- Jefferies upgraded Hims & Hers (HIMS) to Buy from Hold [more]
- Meanwhile, Jefferies downgraded Accolade (ACCD) to Hold from Buy [more]
- Rapid7 (RPD) downgraded to Neutral from Overweight at Piper Sandler [more]
- Barclays upgraded New York Times (NYT) to Equal Weight from Underweight [more]
3. AROUND THE WEB:
- Third Point has taken a position in Salesforce (CRM), WSJ reports [more]
- Southwest (LUV) intends to apologize to a Senate panel for the December meltdown, CNBC reports [more]
- Apple (AAPL) named Medtronic's (MDT) Surface as chief people officer, Bloomberg reports [more]
- Exxon Mobil (XOM) plans to combine business units in reorganization, WSJ says [more]
- Switzerland's Finma told Reuters it is monitoring Credit Suisse (CS) [more]
4. MOVERS:
- AppLovin (APP) gains after reporting quarterly results and providing Q1 guidance [more]
- Sonos (SONO) and DHT Holdings (DHT) increase in New York after reporting quarterly results [more]
- 23andMe (ME) higher after reporting quarterly results and providing upbeat FY23 earnings guidance [more]
- Digital Turbine (APPS) and Veru (VERU) fall after reporting quarterly results [more]
- Purple Innovation (PRPL) lower after announcing a 13.4M share offering [more]
5. EARNINGS/GUIDANCE:
- Tapestry (TPR) provided a "beat and raise" report for Q2 [more]
- AbbVie (ABBV) reported mixed Q4 results [more]
- Kellogg (K) reported better-than-expected Q4 results [more]
- Mattel (MAT) reported downbeat Q4 results [more]
- Adidas (ADDYY) reported preliminary 2022 sales up 1% [more]
INDEXES:
The Dow fell 249.13, or 0.73%, to 33,699.88, the Nasdaq lost 120.94, or 1.02%, to 11,789.58, and the S&P 500 declined 36.36, or 0.88%, to 4,081.50.