Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Nike (NKE) reported better-than-expected Q4 results [read more]
- AbbVie (ABBV) received a Complete Response Letter from the FDA for its New Drug Application for ABBV-951 [read more]
- Pacific Western Bank (PACW) determined it "would not be prudent" to move forward with a capital raise [read more]
- GameStop (GME) reported a surprise profit for Q4 [read more]
- The Federal Reserve raised rates by a quarter of a point, said "additional policy firming may be appropriate" [read more]
2. WALL STREET CALLS:
- Meta Platforms (META) received its third upgrade in as many days, with the latest coming from KeyBanc [read more]
- Spotify (SPOT) and Warner Music Group (WMG) were both upgraded to Buy at Guggenheim on the music industry's growth potential [read more]
- Altimmune (ALT) downgraded to Neutral from Buy at Goldman Sachs [read more]
- Krispy Kreme (DNUT) upgraded to Buy at Truist [read more]
- Luminar (LAZR) downgraded to Sell from Neutral at Goldman Sachs [read more]
3. AROUND THE WEB:
- Novartis (NVS) halted its Leqvio heart attack prevention trial, Reuters reports [read more]
- UBS (UBS) eyes shrinking Credit Suisse's (CS) $10B shipping portfolio, WSJ reports [read more]
- Part of Alibaba (BABA) shareholder lawsuit dismissed by judge, Reuters says [read more]
- Boeing (BA) will take charges on its KC-46 tanker amid quality issue, Reuters reports [read more]
- The EU is set to approve Google's (GOOGL) takeover of Photomath, Reuters says [read more]
4. MOVERS:
- 89bio (ETNB) higher after announcing data from its Phase 2b ENLIVEN trial [read more]
- Carvana (CVNA) gains after updating Q1 results and announcing private exchange offers relating to existing notes [read more]
- Ollie’s Bargain Outlet (OLLI) rises after reporting quarterly results [read more]
- Charles Schwab (SCHW) declines after Barclays lowered its price target on the stock [read more]
- Host Hotels (HST) lower after Compass Point downgraded the stock to Neutral [read more]
5. EARNINGS/GUIDANCE:
- Array Technologies (ARRY) reported upbeat Q4 results [read more]
- Hershey (HSY) reiterated its FY23 earnings growth guidance [read more]
- Petco (WOOF) reported lower-than-expected Q4 earnings [read more]
- HealthEquity (HQY) reported downbeat Q4 earnings [read more]
- Spectrum (SPPI) reported better-than-expected Q4 earnings and revenue [read more]
INDEXES:
The Dow fell 530.49, or 1.63%, to 32,030.11, the Nasdaq lost 190.15, or 1.60%, to 11,669.96, and the S&P 500 declined 65.90, or 1.65%, to 3,936.97.