Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Eleven of America's largest banks confirmed plans to make deposits totaling $30B in First Republic (FRC) [read more]
- Credit Suisse (CS) said it is taking action to pre-emptively strengthen its liquidity by exercising its option to borrow from SNB [read more]
- Adobe (ADBE) provided a "beat and raise" report for Q1 [read more]
- Five Below (FIVE) reported upbeat Q4 revenue [read more]
- Baidu (BIDU) said over 30,000 enterprise users have applied for access to the API of ERNIE Bot Enterprise Edition [read more]
2. WALL STREET CALLS:
- Mizuho upgrades Block (SQ) to Buy on "pivot to profitability" [read more]
- FedEx (FDX) upgraded to Buy from Hold at Stifel [read more]
- Susquehanna upgraded Qualcomm (QCOM) and Skyworks (SWKS) to Positive and raised Intel (INTC) to Neutral [read more]
- Esperion (ESPR) was downgraded to Underperform at Northland and BofA after the company disclosed a disagreement with a partner over its right to receive milestone payments [read more]
- SVB Securities downgraded Halozyme (HALO) to Market Perform [read more]
3. AROUND THE WEB:
- The White House is calling for TikTok owner ByteDance to sell a stake in the platform or face a U.S. ban, WSJ reports [read more]
- Meta (META) CEO to address staff as next round of layoffs starts, Bloomberg says [read more]
- Boeing (BA) resumes deliveries of 787 Dreamliner, Reuters reports [read more]
- Virgin Orbit (VORB) is in discussions over a possible buyout, FT reports [read more]
- UBS (UBS) and Credit Suisse are opposed to a forced merger, Bloomberg says [read more]
4. MOVERS:
- PureCycle Technologies (PCT) gains after announcing a new partnership with Fromerra [read more]
- UiPath (PATH) up after reporting quarterly results [read more]
- PagerDuty (PD) higher after reporting quarterly results and providing Q1 and FY24 guidance [read more]
- Proterra (PTRA) and Hello Group (MOMO) lower in New York after reporting quarterly results [read more]
- Array Technologies (ARRY) falls after rescheduling its earnings [read more]
5. EARNINGS/GUIDANCE:
- Dollar General (DG) reported downbeat Q4 revenue and raised its quarterly dividend [read more]
- LivePerson (LPSN) reported downbeat Q4 earnings and revenue [read more]
- Honest Company (HNST) reported mixed Q3 results and lowered its FY22 revenue guidance [read more]
- Children's Place (PLCE) reported downbeat Q4 earnings [read more]
- Williams-Sonoma (WSM) reported mixed Q4 results, raised its quarterly dividend, and expanded its stock buyback program [read more]
INDEXES:
The Dow rose 371.98, or 1.17%, to 32,246.55, the Nasdaq gained 283.22, or 2.48%, to 11,717.28, and the S&P 500 advanced 68.35, or 1.76%, to 3,960.28.