Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Nvidia (NVDA) reported "extremely strong" Q1 results and provided "stunning" Q2 revenue guidance powered by the "transformational surge in AI spending" [read more]
- Best Buy (BBY) reported upbeat Q1 earnings and reiterated FY24 earnings and revenue guidance [read more]
- Snowflake (SNOW) reported upbeat Q1 results, with CEO Frank Slootman saying on CNBC's Mad Money that the company's guidance should be taken seriously [read more]
- Medtronic (MDT) reported better-than-expected quarterly results and agreed to acquire EOFlow for $738M [read more]
- Stratasys (SSYS) will combine with Desktop Metal (DM) in all-stock transaction that values combined company at $1.8B [read more]
2. WALL STREET CALLS:
- Craig-Hallum, Wedbush and Baird upgraded Nvidia (NVDA) to Buy or equivalent ratings after Q2 guidance that was "without precedent in terms of its upside to consensus estimates on a business that is already so large" [Read more]
- Citi upgraded Carnival (CCL) to Buy from Neutral [read more]
- Rosenblatt downgraded Snowflake (SNOW) to Neutral from Buy [read more]
- Citi downgraded Dish (DISH) to Neutral on "substantial capital needs" [read more]
- Wells Fargo initiated coverage of Mobileye Global (MBLY) with an Overweight rating and $50 target [read more]
3. AROUND THE WEB:
- Amazon (AMZN) to close China app store, SCMP reports [read more]
- Dish (DISH) in discussions to sell wireless plans through Amazon, WSJ says [read more]
- Boston Scientific (BSX) abandons $230M deal to acquire a majority stake in M.I. Tech, STAT says [read more]
- Cruise lines, including Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH), experience surge in occupancy levels, WSJ says [read more]
- Apple (AAPL) expands supplier base in China, Southeast Asia, and India, DigiTimes says [read more]
4. MOVERS:
- Lightwave Logic (LWLG) increases after beginning commercialization of electro-optic polymer materials [read more]
- Zuora (ZUO) rises after reporting quarterly results [read more]
- Nutanix (NTNX) gains after reporting quarterly results and raising its FY23 guidance [read more]
- Icahn Enterprises (IEP) sinks after Bill Ackman said the company reminds him “somewhat of Archegos” [read more]
- UiPath (PATH) declines after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Splunk (SPLK) reported Q1 results, with TD Cowen saying it was a “strong quarter” but cloud migrations and expansions are still “lagging” [read more]
- e.l.f. Beauty (ELF) reported Q4 results and provided FY24 guidance, with CEO Tarang Amin saying the results were “outstanding” [read more]
- Ralph Lauren (RL) reported Q4 results and provided guidance for Q1 and FY24 [read more]
- Dollar Tree (DLTR) reported Q1 EPS that missed consensus, with CEO Rick Dreiling saying the company is “clearly gaining market share across the entire enterprise” [read more]
- Digital Turbine (APPS) provided Q4 results that Roth MKM described as “mixed” [read more]
INDEXES:
Near midday, the Dow was down 151.38, or 0.46%, to 32,648.54, the Nasdaq was up 192.81, or 1.54%, to 12,676.97, and the S&P 500 was up 22.89, or 0.56%, to 4,138.13.