Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Salesforce (CRM) reported better-than-expected Q4 results and provided upbeat FY24 guidance [read more]
- Tesla (TSLA) said at its investor day that it plans to halve EV production costs [read more]
- Macy's (M) reported upbeat Q4 results [read more]
- Best Buy (BBY) reported upbeat Q4 results, but provided downbeat FY24 earnings and revenue guidance [read more]
- Silvergate (SI) said it is evaluating the impact of recent events on its ability to continue as a going concern [read more]
2. WALL STREET CALLS:
- Silvergate Capital (SI) was downgraded to Underweight at JPMorgan and to Hold at Canaccord after the company's filing delay contained a "$4.3B surprise" [read more]
- Salesforce (CRM) upgraded to Buy at Needham on increasing margin leverage [read more]
- Pinduoduo (PDD) upgraded to Overweight from Equal Weight at Morgan Stanley [read more]
- Nio (NIO) was downgraded to Neutral at JPMorgan and to Equal Weight at Barclays [read more]
- Xometry (XMTR) was downgraded to Neutral at JPMorgan and to Sector Perform at RBC Capital [read more]
3. AROUND THE WEB:
- Credit Suisse (CS) offers higher rates in Asia to woo wealthy clients, Reuters reports [read more]
- The Bear Cave points to "problems" at Symbotic (SYM) [read more]
- Grizzly Research is short ZTO Express (ZTO), claims "financials are fake" [read more]
- The EU is unlikely to demand asset sales for Microsoft (MSFT) in Activision (ATVI) deal, Reuters says [read more]
- McDonald's (MCD) directors didn't violate duty, Delaware lawsuit finds, WSJ reports [read more]
4. MOVERS:
- Desktop Metal (DM) gains after reporting quarterly results and providing FY23 guidance [read more]
- Sprouts Farmers Market (SFM) and Big Lots (BIG) rise after reporting quarterly results [read more]
- UWM Holdings (UWMC) higher after Keefe Bruyette upgraded the stock to Market Perform [read more]
- Funko (FNKO) lower after reporting quarterly results and providing guidance [read more]
- Tuya (TUYA), Plug Power (PLUG), and Box (BOX) lower in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Snowflake (SNOW) reported better-than-expected Q4 results and authorized a $2B stock buyback [read more]
- Hormel Foods (HRL) reported downbeat Q1 results and cut its FY23 outlook [read more]
- Splunk (SPLK) reported upbeat Q4 results [read more]
- Pure Storage (PSTG) reported upbeat Q4 adjusted earnings [read more]
- Okta (OKTA) reported better-than-expected Q4 results [read more]
INDEXES:
Near midday, the Dow was up 91.04, or 0.28%, to 32,752.88, the Nasdaq was down 74.20, or 0.65%, to 11,305.29, and the S&P 500 was down 10.90, or 0.28%, to 3,940.49.