Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Uber (UBER) reported mixed Q3 results, though gross bookings rose 21% year-over-year [read more]
- GlobalFoundries (GFS) reported upbeat Q3 earnings and provided Q4 earnings and revenue guidance [read more]
- Crescent Point (CPG) agreed to acquire Hammerhead Energy (HHRS) for C$21 per share [read more]
- Hindenburg said in a short report that EHang (EH) has a "major credibility issue" [read more]
- Activist investor Elliott has built an over $1B stake in BioMarin (BMRN), according to Reuters [read more]
2. WALL STREET CALLS:
- DigitalOcean (DOCN) double upgraded to Buy from Sell at Goldman Sachs [read more]
- Monday.com (MNDY) upgraded to Buy from Neutral at DA Davidson [read more]
- Ventyx Biosciences (VTYX) was downgraded at Wells Fargo, H.C. Wainwright, LifeSci Capital and Stifel after the company's "disappointing" VTX958 data [read more]
- Sonos (SONO) downgraded to Neutral from Buy at BofA [read more]
- Robert Half (RHI) and ASGN (ASGN) were initiated with Sell ratings at UBS as the firm's analyst launched coverage of 10 companies in human capital management software [read more]
3. AROUND THE WEB:
- Intel (INTC) is the leading candidate to potentially receive billions under the U.S. Chips Act, WSJ reports [read more]
- General Motors' (GM) Cruise is pausing production of its Origin purpose-built robotaxi, TechCrunch reports [read more]
- Baidu (BIDU) has ordered AI chips from Huawei in 2023, in a shift away from Nvidia (NVDA), Reuters says [read more]
- Italy regulators are seizing over $800M from Airbnb (ABNB) for tax issues, Bloomberg reports [read more]
- Citi (C) weights major layoffs as part of CEO Jane Fraser's sweeping corporate overhaul, CNBC reports [read more]
4. MOVERS:
- TransMedics (TMDX) increases after reporting quarterly results and raising its FY23 guidance [read more]
- Olaplex (OLPX) and Alteryx (AYX) gains after reporting quarterly results [read more]
- Rover Group (ROVR) higher after reporting Q3 results, raising its FY23 guidance, and providing its outlook for Q4 [read more]
- ADTRAN (ADTN) falls after announcing it has suspended its dividend [read more]
- Olo (OLO) declines after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- RingCentral (RNG) reported Q3 results and provided guidance for Q4 and FY23 [read more]
- Datadog (DDOG) reported Q3 results, with CEO Olivier Pomel commenting "We were pleased with our execution in the third quarter" [read more]
- Planet Fitness (PLNT) reported Q3 results and raised its FY23 guidance [read more]
- NXP Semiconductors (NXPI) announced Q3 results and provided guidance for Q4 [read more]
- Carlyle (CG) reported Q3 results, with CEO Harvey Schwartz commenting "Our portfolio continues to perform despite an increasingly complex environment" [read more]
INDEXES:
Near midday, the Dow was up 66.48, or 0.19%, to 34,162.34, the Nasdaq was up 113.81, or 0.84%, to 13,632.59, and the S&P 500 was up 13.36, or 0.31%, to 4,379.34.