Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- China's Office of Cybersecurity Review announced it will implement a cybersecurity review of products sold by Micron (MU) in China [read more]
- BlackBerry (BB) reported mixed Q4 results [read more]
- Nikola (NKLA) commenced a registered underwritten public offering of up to $100M of shares of its common stock [read more]
- Virgin Orbit (VORB) said it is unable to secure funding, will cease operations and lay off 85% of staff [read more]
- Cano Health's (CANO) Barry Sternlicht resigns from board [read more]
2. WALL STREET CALLS:
- BlackBerry (BB) was upgraded to Hold at TD Securities [read more]
- Generac (GNRC) downgraded to Underperform from Neutral at BofA [read more]
- JD.com (JD) cut to Hold at Loop Capital amid continued competitive concerns [read more]
- Cintas (CTAS) downgraded to Hold from Buy at Jefferies [read more]
- Pacific Biosciences (PACB) upgraded to Outperform from Market Perform at TD Cowen [read more]
3. AROUND THE WEB:
- Netflix (NFLX) scaling back movie output, restructuring film group, Bloomberg reports [read more]
- General Motors (GM) to phase out Apple (AAPL) CarPlay in electric vehicles, Reuters reports [read more]
- Aon (AON) more actively considering M&A opportunities, Inside P&C reports [read more]
- Ford (F) files patent for drone to jumpstart cars with dead battery, NY Post reports [read more]
- Disney (DIS) evaded Florida's attempt to limit its autonomy, NY Times says [read more]
4. MOVERS:
- Shaw Communications (SJR) higher in New York after announcing it will proceed with its merger with Rogers Communications (RCI) [read more]
- Rumble (RUM) gains after reporting quarterly results [read more]
- Semtech (SMTC) lower as Baird joined peers in cutting its price target on the stock following earnings [read more]
- Viking Therapeutics (VKTX) lower after announcing a 17.242M stock offering [read more]
- Aehr Test Systems (AEHR) falls after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- IonQ (IONQ) reported Q4 revenue and EPS that beat consensus [read more]
- Bio-Path (BPTH) reported Q4 EPS that missed expectations [read more]
- BIO-key (BKYI) reported Q4 revenue and EPS that were below consensus [read more]
- Fathom Digital (FATH) reported Q4 results that CEO Ryan Martin said were “below our expectations” [read more]
- Thorne HealthTech (THRN) reported results CEO Paul Jacobson said were “strong” and gave FY23 guidance below consensus [read more]
INDEXES:
Near midday, the Dow was up 260.97, or 0.79%, to 33,120.00, the Nasdaq was up 131.80, or 1.10%, to 12,145.27, and the S&P 500 was up 35.72, or 0.88%, to 4,086.55.