Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Apple (AAPL) announced a "multibillion-dollar" deal with Broadcom (AVGO) for U.S.-made components [read more]
- Shutterstock (SSTK) agreed to acquire GIPHY from Meta Platforms (META) for $53M [read more]
- Tegna (TGNA) terminated its merger agreement with Standard General [read more]
- Zoom Video (ZM) reported better-than-expected Q1 earnings and revenue and provided guidance for Q2 and FY24 [read more]
- Lowe's (LOW) reported upbeat Q1 results but lowered its guidance for FY23 [read more]
2. WALL STREET CALLS:
- Chevron (CVX) upgraded to Buy from Hold at HSBC [read more]
- Myriad Genetics (MYGN) upgraded to Buy from Sell at Goldman Sachs [read more]
- Rain Oncology (RAIN) was downgraded by no less than eight firms after Phase 3 study failure [read more]
- Needham downgraded Intercept (ICPT), says NASH approval "highly unlikely" [read more]
- Citi downgraded Integra (IART) to Sell, sees further guidance cuts following recall [read more]
3. AROUND THE WEB:
- Choice Hotels (CHH) is seeking to acquire Wyndham Hotels (WH), WSJ reports [read more]
- Virgin Orbit (VORB) plans to sell a manufacturing facility to Rocket Lab (RKLB), Reuters reports [read more]
- Alibaba’s (BABA) cloud unit to eliminate 7% of staff in round of job cuts, Bloomberg reports [read more]
- NLRB complaint accuses Amazon (AMZN) of violating labor law, Bloomberg says [read more]
- Tesla (TSLA) lists China-made Model 3, Model Y cars for sale in Canada, Reuters says [read more]
4. MOVERS:
- Yelp (YELP) jumps after shareholder TCS Capital urges company to explore strategic alternatives [read more]
- Lilium (LILM) rises after signing an agreement with Air-Dynamic to serve Switzerland and Italy [read more]
- AMD (AMD) higher after announcing new lineup of AMD Ryzen, Athlon 7020 C-Series processors [read more]
- Perion Network (PERI) decreases in New York after Spruce Point issued a short report [read more]
- Ryan (RYAN) declines after announcing a 9M share offering [read more]
5. EARNINGS/GUIDANCE:
- Dick’s Sporting (DKS) reported its Q1 results, with CEO Lauren Hobart saying she was “very pleased” with the results [read more]
- AutoZone (AZO) reported Q3 results and announced its inventory was up 7.4% year-over-year [read more]
- Vipshop (VIPS) reported Q1 results that CEO Eric Shen said show that the company “started 2023 with solid business momentum” [read more]
- Williams-Sonoma (WSM) delivered Q1 results and backed its FY23 revenue guidance [read more]
- BJ’s Wholesale (BJ) announced Q1 results and reaffirmed its FY23 revenue guidance [read more]
INDEXES:
The Dow fell 231.07, or 0.69%, to 33,055.51, the Nasdaq lost 160.53, or 1.26%, to 12,560.25, and the S&P 500 declined 47.05, or 1.12%, to 4,145.58.