Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Salesforce (CRM) provided a "beat and raise" report for Q1 [read more]
- Macy's (M) reported upbeat Q1 earnings but slashed its FY23 earnings and revenue guidance [read more]
- Dollar General (DG) reported downbeat Q1 results and cut its FY23 outlook [read more]
- NRG Energy (NRG) agreed to sell a 44% equity interest in STP to Constellation Energy (CEG) for $1.75B [read more]
- Dell Technologies (DELL) advanced in late day trading after early release of Q1 results [read more]
2. WALL STREET CALLS:
- Target (TGT) downgraded to Neutral at JPMorgan, which says share loss could accelerate and linger given consumer pressures and "recent company controversies" [read more]
- RBC Capital upgraded Chevron (CVX) to Outperform and downgraded Exxon Mobil (XOM) to Sector Perform [read more]
- Wedbush upgraded C3.ai (AI) to Outperform after earnings, while DA Davidson downgraded the stock to Neutral [read more]
- Advance Auto Parts (AAP) was downgraded at BofA, JPMorgan, Goldman Sachs and Raymond James as fallout continues from its quarterly report and guidance cut [read more]
- Okta (OKTA) was downgraded at both BMO Capital and JPMorgan after earnings [read more]
3. AROUND THE WEB:
- Palantir (PLTR) an "imposter" engaging in "games" to inflate books, says The Bear Cave [read more]
- Amazon (AMZN) is using A.I. to screen items for damage prior to shipping them to customers, WSJ reports [read more]
- 3M (MMM) and DuPont (DD) are among companies agreeing to pay over $100M to resolve Roma, Georgia's lawsuit over per-and polyfluoroalkyl substances chemicals, Bloomberg reports [read more]
- Apple (AAPL) is targeting 50 new or rebuilt retail stores through 2027, Bloomberg says [read more]
- Microsoft (MSFT) has signed a deal with CoreWeave to power ChatGPT, CNBC reports [read more]
4. MOVERS:
- Chewy (CHWY) up after raising its FY23 revenue view [read more]
- Pure Storage (PSTG) rises after reporting quarterly results [read more]
- Kingsoft Cloud (KC) higher in New York after Goldman Sachs upgraded the stock to Neutral [read more]
- Lexicon (LXRX) declines after announcing a 23.9M share offering [read more]
- Lucid Group (LCID) falls after announcing a 173.5M share offering [read more]
5. EARNINGS/GUIDANCE:
- Nordstrom (JWN) CEO Erik Nordstrom said he is “encouraged” by the company’s momentum as the company reported Q1 results [read more]
- Victoria’s Secret (VSCO) reported Q1 results and cut its FY23 revenue view, with CEO Martin Waters calling the quarter “challenging” [read more]
- C3.ai (AI) provided initial guidance for FY24 [read more]
- Hormel Foods (HRL) reported Q2 results and backed its FY23 guidance [read more]
- Crowdstrike (CRWD) delivered Q1 results and raised its FY24 guidance, with MoffettNathanson saying the report “looked good” [read more]
INDEXES:
The Dow rose 153.30, or 0.47%, to 33,061.57, the Nasdaq gained 165.70, or 1.28%, to 13,100.98, and the S&P 500 advanced 41.19, or 0.99%, to 4,221.02.