Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- General Mills (GIS) reported upbeat Q1 results and reiterated its FY24 earnings and organic net sales guidance [read more]
- Apple (AAPL) and Goldman Sachs (GS) have paused their plan for an iPhone stock trading feature, CNBC reports [read more]
- Uber (UBER) is warning of a shut down in hundreds of cities under the EU's gig work plan, FT reports [read more]
- Klaviyo (KVYO) opened at $36.75 per share, above its IPO pricing of $30 per share [read more]
- The U.S. Federal Reserve kept interest rates unchanged and issued projections that imply one more 25-basis-point rate hike this year and 50 bps of rate cuts in 2024 [read more]
2. WALL STREET CALLS:
- Pinterest (PINS) upgraded to Buy at Citi and DA Davidson following the company's analyst day event [read more]
- Bausch Health (BHC) upgraded to Buy from Hold at Jefferies [read more]
- Dollar General (DG) downgraded to Underweight from Neutral at JPMorgan [read more]
- nCino (NCNO) downgraded to Underweight from Equal Weight at Morgan Stanley [read more]
- IBM (IBM) initiated with an Outperform at RBC Capital [read more]
3. AROUND THE WEB:
- Shopify (SHOP) could gain $295M from a deal it struck with Kaviyo pre-IPO, The Information reports [read more]
- Unilever (UL) has hired Morgan Stanley (MS) and Evercore (EVR) as it revives an effort to sell a collection of non-core beauty and personal care brands, Reuters reports [read more]
- Ford (F) has reached a tentative labor agreement with Canadian labor union Unifor, WSJ reports [read more]
- Goldman Sachs (GS) is in advanced talks to sell GreenSky, WSJ says [read more]
- The U.K.'s CMA will make a preliminary decision on Microsoft's (MSFT) proposed takeover of Activision Blizzard (ATVI) next week, The Verge reports [read more]
4. MOVERS:
- Steelcase (SCS) higher after reporting quarterly results [read more]
- Azul (AZUL) gains in New York after Goldman Sachs upgraded the stock to Buy [read more]
- Exscientia (EXAI) increases in New York after announcing a drug discovery pact with Merck KGaA (MKKGY) [read more]
- Eastern Bankshares (EBC) falls after entering a definitive merger agreement with Cambridge Bancorp (CATC) [read more]
- Chewy (CHWY) falls after Oppenheimer downgraded the stock to Perform and Walmart (WMT) opened its first pet services center [read more]
5. EARNINGS/GUIDANCE:
INDEXES:
The Dow fell 76.85, or 0.22%, to 34,440.88, the Nasdaq lost 209.06, or 1.53%, to 13,469.13, and the S&P 500 declined 41.75, or 0.94%, to 4,402.20.