Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Unity (U) shares fell after the company announced a review of its product portfolio and cost structure and also pulled full year guidance along with its Q3 earnings report [read more]
- Groupon (GRPN) shares are lower after the company reported Q3 results, said it plans to raise about $100M between an equity rights offering and asset sales and announced that co-founder Eric Lefkofsky has decided to resign as a member of the board [read more]
- Plug Power (PLUG) shares sunk after the company raised "substantial doubt" about its ability to continue operations [read more]
- Trade Desk (TTD) shares are down after the company gave lower than expected guidance for Q4, but several analysts said the "sharp" pullback in the stock following the company's Q3 results and below-consensus guidance is an opportunity to own "one of the best digital ad platforms" [read more]
- Illumina (ILMN) shares slid after the DNA-sequencing company reported Q3 product revenue that missed estimates and cut its full-year revenue guidance [read more]
2. WALL STREET CALLS:
- Plug Power (PLUG) was downgraded by at least four firms after the company issued a "dismal" Q3 earnings report and warned of "substantial doubt" about the company's ability to "continue as a going concern" [read more]
- Morgan Stanley initiated coverage of Arm (ARM) with an Equal Weight rating and $55 price target as the firm started three names in the semiconductor IP and design space [read more]
- Toast (TOST) was upgraded to Outperform from Neutral at Baird [read more]
- Wells Fargo downgraded Hawaiian Electric (HE) to Underweight as the firm sees remaining risk of a $0 equity value should the company be held liable for the Maui wildfires [read more]
- Gordon Haskett upgraded BJ's Wholesale (BJ) to Buy [read more]
3. AROUND THE WEB:
- Amazon (AMZN) and Meta Platforms (META) are testing a feature that would allow shoppers to buy Amazon products through ads on Instagram and Facebook, Bloomberg reports [read more]
- Lionsgate (LGF.A) is in final negotiations to acquire an added ownership stake in 3 Arts Entertainment, Deadline reports [read more]
- Honda (HMC) is giving many of its U.S. factory workers an 11%, WSJ reports [read more]
- Hacking group publishes data alleged to have been stolen from Boeing (BA), Reuters reports [read more]
- BlackRock (BLK) has registered to form an ethereum trust, Reuters reports [read more]
4. MOVERS:
- Microvast (MVST) gains after reporting Q3 results, provided guidance for Q4, and cut its FY23 revenue view [read more]
- Vizio (VZIO) and Indie Semiconductor (INDI) increase after reporting quarterly results [read more]
- Doximity (DOCS) higher after reporting Q2 results and raising its FY24 guidance [read more]
- Adaptive Biotechnologies (ADPT) declines after reporting quarterly results [read more]
- Iridium (IRDM) drops after Qualcomm (QCOM) terminates satellite messaging agreements [read more]
5. EARNINGS/GUIDANCE:
- Real Good Food (RGF) reports Q3 EPS and provided guidance for Q4, FY23, and FY24 [read more]
- Soho House (SHCO) reported Q3 results, with CEO Andrew Carnie commenting "This has been another quarter of strong execution against our strategic objectives" [read more]
- Yeti (YETI) reported Q3 results and narrowed its FY23 adjusted EPS view [read more]
- Palisade Bio (PALI) reported Q3 EPS higher year-over-year [read more]
- Treace Medical (TMCI) reported Q3 results and cut its FY23 guidance [read more]
INDEXES:
The Dow rose 391.16, or 1.15%, to 34,283.10, the Nasdaq gained 276.66, or 2.05%, to 13,798.11, and the S&P 500 advanced 67.89, or 1.56%, to 4,415.24.