Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Target (TGT) reported mixed Q1 results and backed its FY23 adjusted EPS view [read more]
- Tesla (TSLA) shares are higher after the company hosted its annual shareholder meeting last night and CEO Elon Musk said the company will try out "a little bit of advertising" [read more]
- TJX (TJX) reported better-than-expected Q1 earnings and raised its FY24 adjusted EPS view [read more]
- eMagin (EMAN) agreed to be acquired by Samsung Display for $2.08 per share in a deal valued at about $218M [read more]
- ServiceNow (NOW), along with hosting its analyst day yesterday, announced it will initiate its first buyback program for up to $1.5B in shares of its common stock [read more]
2. WALL STREET CALLS:
- BioNTech (BNTX) upgraded to Buy from Neutral at Redburn [read more]
- Tencent Music (TME) was upgraded to Neutral at Macquarie while being raised to Buy at both Citi and China Renaissance following the company's Q1 report [read more]
- AppLovin (APP) upgraded to Buy at BofA after Q1 pricing surge [read more]
- WeWork (WE) downgraded to Neutral from Buy at Mizuho [read more]
- Arete upgraded Snap (SNAP) to Buy with an unchanged price target of $12 [read more]
3. AROUND THE WEB:
- Volkswagen (VWAGY) holds talks with Huawei about licensing software for cars, FT reports [read more]
- Qatari sheikh submits higher offer for Manchester United (MANU), The Times says [read more]
- Land Management says Lithium Americas' (LAC) Nevada lithium mine construction may proceed, AP reports [read more]
- PayPal (PYPL) seeking buyers for Xoom money transfer service, The Information says [read more]
- JPMorgan (JPM) “unlikely” to buy other struggling lenders, Reuters reports [read more]
4. MOVERS:
- Clear Channel Outdoor (CCO) higher after Legion reported a 5.1% active stake in the company [read more]
- ProPetro Holding (PUMP) rises after announcing $100M share repurchase program [read more]
- Intercept Pharmaceuticals (ICPT) falls after the FDA posted briefing documents for upcoming advisory panel to review the company's obeticholic acid [read more]
- EVgo (EVGO) lower after announcing a $125M stock offering [read more]
- Kyndryl Holdings (KD) drops after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Jack in the Box (JACK) reported Q2 results and raised its FY23 guidance [read more]
- Triumph Group (TGI) delivered Q4 EPS and revenue that beat consensus and provided FY24 guidance [read more]
- Doximity (DOCS) reported Q4 results that Evercore ISI called "relatively strong" [read more]
- Wix.com (WIX) announced Q1 results, provided a Q2 outlook, and raised its FY23 revenue guidance [read more]
- WalkMe (WKME) reported Q1 results, with CEO Dan Adika saying the company "delivered solid revenue growth with better than expected operating margin" [read more]
INDEXES:
The Dow rose 408.63, or 1.24%, to 33,420.77, the Nasdaq gained 157.51, or 1.28%, to 12,500.57, and the S&P 500 advanced 48.87, or 1.19%, to 4,158.77.