Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Starbucks (SBUX) reported upbeat Q2 results and reiterated its FY23 outlook [read more]
- Ford (F) reported better-than-expected Q1 earnings and revenue and reported April U.S. sales up 4% [read more]
- Darden (DRI) will acquire Ruth's Hospitality Group (RUTH) for $21.50 per share [read more]
- Eli Lilly (LLY) said its TRAILBLAZER-ALZ 2 Phase 3 study of Alzheimer's drug donanemab met its primary endpoint and all secondary endpoints [read more]
- CVS Health (CVS) reported upbeat Q1 results, cut its FY23 earnings guidance but raised its FY23 revenue view [read more]
2. WALL STREET CALLS:
- AMD (AMD) was upgraded to Buy at Craig-Hallum and downgraded to Neutral at BofA following the company's quarterly report [read more]
- Susquehanna upgraded Uber (UBER) on what it sees being "large growth opportunities ahead" [read more]
- Chewy (CHWY) upgraded to Outperform from Market Perform at Raymond James [read more]
- Comerica (CMA) downgraded to Peer Perform from Outperform at Wolfe Research [read more]
- NerdWallet (NRDS) downgraded to Neutral from Buy at Citi [read more]
3. AROUND THE WEB:
- Unity (U) to cut 600 jobs in third round of layoffs in a year, WSJ reports [read more]
- Tesla (TSLA) is eyeing closer ties with local industry supply chains in China, DigiTimes says [read more]
- Morgan Stanley (MS) in talks with regulators on its block trading probe, Bloomberg says [read more]
- Amazon (AMZN) plans Alexa revamp with own ChatGPT technology, Insider reports [read more]
- Financial sponsor interest is stronger in Circor (CIR) than strategic buyers, Dealreporter says [read more]
4. MOVERS:
- ImmunoGen (IMGN) higher after reporting results from its Phase 3 MIRASOL trial [read more]
- Generac (GNRC) up after reporting quarterly results and reaffirming its FY23 sales guidance [read more]
- MiMedx Group (MDXG) and Super Micro Computer (SMCI) gain after reporting quarterly results [read more]
- Mercury Systems (MRCY) decreases after reporting quarterly results [read more]
- Icahn Enterprises (IEP) falls for second day after Hindenburg published a short report on the company yesterday [read more]
5. EARNINGS/GUIDANCE:
- Belden (BDC) raised its FY23 guidance after it reported what CEO Ashish Chand called a “solid” quarter [read more]
- Lindblad Expeditions (LIND) reported Q1 revenue and EPS that beat consensus, with CEO Dolf Berle saying the company is “off to a great start in 2023” [read more]
- Turning Point (TPB) delivered Q1 results and reaffirmed its FY23 guidance [read more]
- Horizon Therapeutics (HZNP) reported Q1 EPS and revenue that missed consensus [read more]
- SiteOne Landscape (SITE) reported Q1 EPS that missed consensus, which CEO Doug Black said was due to the “difficult weather this year and tough comparisons with the first quarter of last year” [read more]
INDEXES:
Near midday, the Dow was down 12.92, or 0.04%, to 33,671.61, the Nasdaq was up 40.58, or 0.34%, to 12,121.09, and the S&P 500 was up 5.28, or 0.13%, to 4,124.86.