Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- General Motors (GM) narrowed its FY23 adjusted earnings guidance, announced a $10B accelerated buyback program and said it will increase its quarterly dividend in 2024 [read more]
- Apple (AAPL) will exit its card partnership with Goldman Sachs (GS), WSJ reports [read more]
- Intuit (INTU) reported upbeat Q1 results and reiterated its FY24 outlook [read more]
- Activist investor Elliott is seeking Phillips 66 (PSX) board seats [read more]
- The Fed's latest Beige Book said that economic activity has slowed since the previous report [read more]
2. WALL STREET CALLS:
- Jefferies downgraded Airbnb (ABNB) to Hold [read more]
- Morgan Stanley upgraded Tuya (TUYA) to Overweight [read more]
- Canaccord initiated coverage of Moderna (MRNA) with a Hold rating, $82 price target [read more]
- Wells Fargo downgraded Petco (WOOF) to Equal Weight, saying the latest earnings report "represents another disappointing shortfall" [read more]
- Okta (OKTA) was downgraded to Neutral at Piper after the company pre-released Q3 results [read more]
3. AROUND THE WEB:
- Citi (C) executive has sued the bank over sexual harassment, NY Times says [read more]
- Unity (U) will cut 3.8% of its global workforce, or 265 jobs, Reuters reports [read more]
- Google's (GOOGL) geothermal energy project is up and running in Nevada, The Verge says [read more]
- Uber (UBER) plans to start listing London's black cabs in its app in early 2024, The Verge reports [read more]
- Cigna (CI) and Humana (HUM) are in talks to combine in a cash-and-stock deal, WSJ reports [read more]
4. MOVERS:
- Rover Group (ROVR) higher after announcing it will be acquired by Blackstone (BX) for $11 per share in cash [read more]
- Cabaletta Bio (CABA) gains after William Blair initiated coverage of the stock with an Outperform rating [read more]
- Microvast (MVST) increases after Cantor Fitzgerald initiated coverage of the stock with an Overweight rating [read more]
- Farfetch (FTCH) declines in New York after announcing it will not report Q3 results [read more]
- Petco (WOOF) falls after reporting Q3 results and cutting its FY23 guidance [read more]
5. EARNINGS/GUIDANCE:
- Dollar Tree (DLTR) reported Q3 earnings and narrowed its FY23 guidance [read more]
- Okta (OKTA) reported Q3 results, provided guidance for Q4, and raised its outlook for FY24 [read more]
- HP Enterprise (HPE) reported Q4 results and backed its FY24 guidance [read more]
- Foot Locker (FL) reported better-than-expected Q3 earnings and revenue and narrowed its FY23 earnings and revenue guidance [read more]
- Crowdstrike (CRWD) provided a "beat and raise" report for Q3 [read more]
INDEXES:
The Dow rose 13.44, or 0.038%, to 35,430.42, the Nasdaq lost 23.27, or 0.16%, to 14,258.49, and the S&P 500 declined 4.31, or 0.095%, to 4,550.58.