Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- News Corp. (NWSA) reported Q4 results that its CEO said "highlighted the durability and depth of our revenue streams and the impact of stringent cost controls" [read more]
- Cano Health (CANO) announced it is pursuing a process to identify and evaluate interest in a sale of the company, withdrew FY23 guidance and warned it sees "substantial doubt" about the company's ability to continue as a going concern within one year [read more]
- Arco Platform (ARCE) announced an agreement to go private at $14 per share in cash [read more]
- Mountain & Co. I Acquisition (MCAA) announced an agreement to bring professional football club FC Barcelona's content creation platform, Barca Media, public in the U.S. on the Nasdaq under the ticker symbol "BRME" [read more]
- The U.S. Producer Price Index, or PPI, overshot assumptions in July with gains of 0.3% for both the headline and core readings that were hotter than expected [read more]
2. WALL STREET CALLS:
- Argus upgrades Twilio (TWLO) to Buy, sees AI as "key accelerant" [read more]
- Himax (HIMX) upgraded to Outperform at Credit Suisse with "recovery in sight" [read more]
- Wolverine World Wide (WWW) was downgraded to Hold or equivalent ratings at Seaport Research, Williams Trading and Exane BNP Paribas following the company's fiscal 2023 guidance cut [read more]
- Origin Materials (ORGN) was downgraded to Neutral at BofA and Hold at Craig-Hallum after Origin 2 "curveball" [read more]
- Medical Properties (MPW) was downgraded to Underperform at Raymond James and BofA after its "negative" quarter [read more]
3. AROUND THE WEB:
- Meta (META) rehires "dozens" after cutting 21,000 employees during a massive cost-cutting push last year, Insider says [read more]
- UBS (UBS) is beginning to phase out the Credit Suisse (CS) brand, FT reports [read more]
- Microsoft's (MSFT) role in a recent breach will be part of a cybersecurity inquiry, Bloomberg says [read more]
- The Supreme Court has agreed to hear the appeal of Purdue Pharma's $6B opioid settlement, Bloomberg says [read more]
- The Kremlin's fear of a major tech brain drain is the main factor preventing Moscow from nationalizing Nasdaq-listed Yandex (YNDX), Reuters reports [read more]
4. MOVERS:
- Telesat Holdings (TSAT) rises in New York after announcing it has contracted MDA (MDALF) to build 198 advanced satellites for its LEO program [read more]
- Evolv Technology (EVLV) and Pagaya (PGY) advance after reporting quarterly results [read more]
- IonQ (IONQ) higher after reporting Q2 results and raising its FY23 guidance [read more]
- Maxeon Solar (MAXN) falls in New York after reporting quarterly results and providing guidance [read more]
- Indie Semiconductor (INDI) and Velo3D (VLD) lower after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Spectrum Brands (SPB) reported Q3 results and provided guidance for FY23 [read more]
- AirSculpt Technologies (AIRS) reported Q2 results and backed its FY23 guidance, with CEO Todd Magazine commenting he was "pleased" with the company's performance [read more]
- Decibel Therapeutics (DBTX) reported Q2 EPS that missed consensus [read more]
- Ocuphire Pharma (OCUP) announced Q2 results and expects cash to fund operations into 2025 [read more]
- Real Good Food (RGF) delivered Q2 results and CEO Bryan Freeman commented on the "significant acceleration in sales growth this quarter" [read more]
INDEXES:
Near midday, the Dow was up 111.29, or 0.32%, to 35,287.44, the Nasdaq was down 88.62, or 0.65%, to 13,649.37, and the S&P 500 was down 4.84, or 0.11%, to 4,463.99.