Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Alibaba (BABA) intends to spin-off Cainiao by way of a separate listing [read more]
- Sirius XM (SIRI) received a combination proposal from Liberty Media (LSXMA) [read more]
- Alfasigma agreed to acquire Intercept (ICPT) for $19 per share in cash [read more]
- JPMorgan (JPM) has reached a $75M settlement with the U.S. Virgin Islands over Jeffrey Epstein [read more]
- The FTC and 17 states sued Amazon (AMZN) for maintaining "monopoly power" strategies, prompting the company to respond that the FTC is "wrong on the facts and the law" [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Microsoft (MSFT) is working on a "plan B" to OpenAI as AI costs soar, The Information reports [read more]
- Moderna (MRNA) is negotiating a new COVID-19 procurement agreement with EU countries, FT says [read more]
- Edward Lifesciences (EW) was targeted by an EU antitrust raid, Reuters says [read more]
- Jim Ratcliffe is restructuring offer to buy Manchester United (MANU), Bloomberg says [read more]
- Ford (F) suspends work on its Michigan battery plant, NY Times reports [read more]
4. MOVERS:
- Immunovant (IMVT) surges after announcing IMVT-1402 showed efficacy in Phase 1 study [read more]
- Fisker (FSR) higher after BofA reinstated coverage of the stock with a Buy rating [read more]
- ARS Pharmaceuticals (SPRY) higher after Ra Capital disclosed a $8.2M purchase of the company's stock [read more]
- W.P. Carey (WPC) falls after BMO Capital downgraded the stock to Market Perform [read more]
- Coty (COTY) lower after announcing an offering of 33M shares [read more]
5. EARNINGS/GUIDANCE:
- Cintas (CTAS) provided a "beat and raise" report for Q1 [read more]
- Thor Industries (THO) reported Q4 results and provided guidance for FY24 [read more]
- Ferguson (FERG) reported Q4 results and provided guidance for FY24, with CEO Kevin Murphy commenting the company delivered "strong full year results" [read more]
- Xponential Fitness (XPOF) CEO Anthony Geisler "reiterated confidence" in hitting the high end of the company's FY23 guidance [read more]
- United Natural Foods (UNFI) reported Q4 results and provided guidance for FY24 [read more]
INDEXES:
The Dow fell 388.00, or 1.14%, to 33,618.88, the Nasdaq lost 207.71, or 1.57%, to 13,063.61, and the S&P 500 declined 63.91, or 1.47%, to 4,273.53.