Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Intuit (INTU) reported mixed Q3 results, but provided upbeat FY23 earnings and revenue guidance [read more]
- Citi (C) will pursue an IPO of its Mexico business Banamex [read more]
- Sarepta (SRPT) announced a PDUFA delay, said the FDA is working towards accelerated approval for its Duchenne muscular dystrophy gene therapy [read more]
- Jana to nominate four directros to Freshpet's (FRPT) board, citing a "pattern of missteps" [read more]
- FOMC participants expressed "uncertainty" about more tightening, according to minutes from the last Federal Reserve meeting [read more]
2. WALL STREET CALLS:
- Exane downgraded Shopify (SHOP) to Underperform on small business exposure [read more]
- Camping World (CWH) upgraded to Outperform from Market Perform at BMO Capital [read more]
- BofA upgraded Accolade (ACCD) to Buy, sees "highly appealing" risk/reward [read more]
- Jefferies upgraded Sherwin-Williams (SHW) to Buy from Hold [read more]
- JPMorgan downgraded Integra LifeSciences (IART) to Underweight [read more]
3. AROUND THE WEB:
- EU court dismisses Meta’s (META) challenge to hand over data, Bloomberg reports [read more]
- Nvidia (NVDA) CEO says chip wars risk “enormous damage,” FT says [read more]
- Illumina (ILMN) director says company is strong enough to survive loss of CEO, FT reports [read more]
- Avid Technology (AVID) is working with Goldman Sachs (GS) on a potential sale, Reuters reports [read more]
- Apple's (AAPL) iOS 17 to let locked iPhones appear as smart displays, Bloomberg says [read more]
4. MOVERS:
- Organogenesis (ORGO) rises after BTIG upgraded the stock to Buy [read more]
- Urban Outfitters (URBN) gains after reporting quarterly results [read more]
- PTC Therapeutics (PTCT) falls after announcing its MOVE-FA trial did not meet its primary endpoint, it will reduce its workforce by about 8%, and it has terminated its CFO Emily Hill [read more]
- Children’s Place (PLCE) and Petco (WOOF) slide after reporting quarterly results [read more]
- Xpeng (XPEV) slips in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Palo Alto Networks (PANW) provided a "beat and raise" report for Q3 [read more]
- Kohl's (KSS) reported upbeat Q1 earnings and revenue and reiterated its FY23 outlook [read more]
- Toll Brothers (TOL) reported its Q2 results and provided delivery guidance for Q3 and FY23 [read more]
- Analog Devices (ADI) expects revenue to moderate in the second half of the year due to “continued economic uncertainty” [read more]
- Abercrombie & Fitch (ANF) raised its FY23 revenue growth guidance [read more]
INDEXES:
The Dow fell 255.59, or 0.77%, to 32,799.92, the Nasdaq lost 76.08, or 0.61%, to 12,484.16, and the S&P 500 declined 30.34, or 0.73%, to 4,115.24.