Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Intel (INTC) will separate its Programmable Solutions Group operations into a standalone business [read more]
- Ford (F) reported Q3 sales in the U.S. rose 7.7% year-over-year [read more]
- General Motors (GM) has received a new $6B revolving credit line from JPMorgan (JPM) and other lenders [read more]
- Moderna (MRNA) announced "positive" data from the Phase 1/2 trial of an investigational combination vaccine against influenza and COVID-19 [read more]
- Standard BioTools (LAB) and SomaLogic (SLGC) agreed to combine in an all-stock merger [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Boeing (BA) is seeking to increase the production of its 737 jet to at least 57 per month by July 2025, Reuters says [read more]
- The U.S. SEC asked a federal judge to deny a motion from Coinbase (COIN) to dismiss the regulator's lawsuit against the company, Reuters reports [read more]
- WPP (WPP) plans to increase its staffing by 40% or so at its Japanese business by 2028, Nikkei reports [read more]
- BP (BP) is mulling the sale of a 49% interest in its U.S. oil and gas pipeline network in the Gulf of Mexico, Reuters says [read more]
- Citi (C) has outlined job cut and reassignment processes as part of its reorganization, Reuters reports [read more]
4. MOVERS:
- LiveVox (LVOX) higher after entering a definitive agreement to be acquired by Nice (NICE) for $3.74 per share in cash [read more]
- Freyr Battery (FREY) advances in New York after providing an update on its operational progress at CQP in Norway [read more]
- StoneCo (STNE) gains in New York after announcing a share repurchase program [read more]
- B&G Foods (BGS) falls after Piper Sandler downgraded the stock to Underweight [read more]
- On Holding (ONON) falls in New York after backing its FY23 revenue view and announcing its financial targets for FY26 [read more]
5. EARNINGS/GUIDANCE:
- Cal-Maine (CALM) reported Q1 results, with revenue and EPS missing consensus [read more]
- A10 Networks (ATEN) provided guidance for Q3 [read more]
- RPM (RPM) reported Q1 results, with CEO Frank Sullivan commenting, "RPM associates demonstrated another quarter of strong execution and generated record first-quarter sales" [read more]
- Construction Partners (ROAD) provided guidance for FY23 and FY24 [read more]
- Biofrontera AG (BFRI) provided guidance for Q3 [read more]
INDEXES:
The Dow rose 127.17, or 0.39%, to 33,129.55, the Nasdaq gained 176.54, or 1.35%, to 13,236.01, and the S&P 500 advanced 34.30, or 0.81%, to 4,263.75.