Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Apple (AAPL) reported upbeat Q4 results, with year-over-year increases in iPhone revenue but decreases in Mac, iPad, and wearables revenue [read more]
- Block (SQ) reported better-than-expected Q3 earnings and revenue and reported an initial authorization to repurchase $1B in shares [read more]
- Booking Holdings (BKNG) reported upbeat Q3 earnings and revenue, with CEO Glenn Fogel saying he is "encouraged by the resilience of leisure travel demand" [read more]
- Restaurant Brands (QSR) reported better-than-expected Q3 earnings but lower-than-expected Q3 revenue [read more]
- Microsoft (MSFT) announced the Secure Future Initiative to advance security engineering [read more]
2. WALL STREET CALLS:
- Uber (UBER) upgraded to Overweight from Sector Weight at KeyBanc [read more]
- Guggenheim upgraded Confluent (CFLT) to Buy following the more than 40% post-earnings selloff while Wolfe Research also upgraded shares to Outperform [read more]
- Omnicell (OMCL) was upgraded to Overweight at Piper Sandler and upgraded to Equal Weight at Wells Fargo while the stock was downgraded to Neutral at BTIG [read more]
- Fox Corp. (FOXA) downgraded to Neutral from Overweight at JPMorgan [read more]
- JPMorgan, Stifel, Cantor Fitzgerald, Evercore ISI, William Blair and Oppenheimer all downgraded Fortinet (FTNT) after the company cut full year billings and revenue guidance for the second quarter in a row [read more]
3. AROUND THE WEB:
- Netflix (NFLX) is exploring streaming a live boxing match featuring influencer Jake Paul, WSJ reports [read more]
- Nio (NIO) plans to cut its workforce by 10% this month, Reuters reports [read more]
- Sir Jim Ratcliffe is set to commit $300M to Manchester United (MANU), Sky News says [read more]
- Lionsgate's (LGF.A) Starz will exit the U.K. and Australia, and will lay off over 10% of staff, CNBC reports [read more]
- Bank of America (BAC) and other big banks are having issues with Automated Clearing House, CNN reports [read more]
4. MOVERS:
- Udemy (UDMY) and Editas Medicine (EDIT) higher after reporting quarterly results [read more]
- Redfin (RDFN) gains after reporting quarterly results and providing guidance for Q4 [read more]
- Figs (FIGS) increases after reporting Q3 results and providing guidance for FY23 [read more]
- Fox Factory (FOXF) falls after reporting quarterly results and B. Riley downgraded the stock [read more]
- Bill (BILL) declines after reporting Q1 results and cutting its FY24 guidance [read more]
5. EARNINGS/GUIDANCE:
- Coinbase (COIN) reported Q3 results, with revenue higher year-over-year [read more]
- Expedia (EXPE) reported Q3 results and announced a $5B share repurchase program [read more]
- Fortinet (FTNT) announced Q3 results and provided guidance for Q4 and FY23, with Cantor Fitzgerald downgrading the stock due to the "disappointing" set of results [read more]
- Paramount (PARA) reported Q3 results, with CEO Bob Bakish commenting "We continue to execute our strategy and prioritize prudent investment in streaming while maximizing the earnings of our traditional business" [read more]
- DraftKings (DKNG) reported Q3 results and raised its guidance for FY23 [read more]
INDEXES:
The Dow rose 222.24, or 0.66%, to 34,061.32, the Nasdaq gained 184.09, or 1.38%, to 13,478.28, and the S&P 500 advanced 40.56, or 0.94%, to 4,358.34.