Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Coinbase (COIN) received a Wells Notice from the SEC stating that SEC staff recommends enforcement action [read more]
- Ford (F) plans to report financial results based on three new global business segments and said it expects to lose about $3B in its electric-vehicle business this year [read more]
- Darden (DRI) reported upbeat Q3 results and revised its FY23 earnings and revenue guidance [read more]
- Hindenburg is short Block (SQ) and has accused the company of facilitating "fraud against consumers" [read more]
- General Mills (GIS) provided a "beat and raise" report for Q3 [read more]
2. WALL STREET CALLS:
- Accolade (ACCD) upgraded at Guggenheim after benefits survey, management meetings [read more]
- Chewy (CHWY) downgraded to Hold from Buy at Deutsche Bank [read more]
- Samsara (IOT) downgraded to Equal Weight from Overweight at Morgan Stanley [read more]
- Coinbase (COIN) downgraded to Perform from Outperform at Oppenheimer [read more]
- Truist upgraded BellRing Brands (BRBR) to Buy from Hold [read more]
3. AROUND THE WEB:
- Walmart (WMT) lays off hundreds of U.S. fulfillment center staff, Reuters reports [read more]
- Charles Schwab (SCHW) CEO Walt Bettinger said the company could ride out a deposit flight, WSJ reports [read more]
- BP (BP) is considering buying control of solar power JV Lightsources BP, Reuters says [read more]
- Starbucks (SBUX) is facing pressure for an audit of its alleged anti-union tactics, Bloomberg reports [read more]
- Tesla (TSLA) expects to lose the entire $7,500 federal tax credit on the Model 3 standard range, Electrek reports [read more]
4. MOVERS:
- Regeneron (REGN) higher after announcing with Sanofi (SNY) that the primary and all key secondary endpoints were met in a Phase 3 trial evaluating the use of Dupixent in adults with uncontrolled chronic obstructive pulmonary disease, or COPD [read more]
- On Holding (ONON) gains in New York after UBS raised its price target on the stock [read more]
- Trupanion (TRUP) falls after announcing CFO Drew Wolff will step down [read more]
- Uranium Energy (UEC) falls after Kerrisdale said it is short the stock [read more]
- Comerica (CMA) lower after Truist cut its price target on the stock to $54 from $78 [read more]
5. EARNINGS/GUIDANCE:
- Accenture (ACN) provided a "beat and raise" report for Q2 [read more]
- Steelcase (SCS) reported better-than-expected Q4 results [read more]
- KB Home (KBH) reported upbeat Q1 earnings and revenue [read more]
- Chewy (CHWY) reported better-than-expected Q4 earnings [read more]
- FactSet (FDS) reported upbeat Qq2 results [read more]
INDEXES:
Near midday, the Dow was up 402.15, or 1.26%, to 32,432.26, the Nasdaq was up 252.76, or 2.17%, to 11,922.72, and the S&P 500 was up 59.75, or 1.52%, to 3,996.72.