Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- McDonald's (MCD) provided its 2024 and long-term outlook and targets at its investor day meeting [read more]
- ExxonMobil (XOM) also gave an update to its corporate plan through 2027, reporting that it is increasing its pace of share repurchases to $20B per year through 2025 [read more]
- MasterCard (MA) authorized up to $11B in stock repurchases and raised its quarterly dividend 16% [read more]
- Campbell Soup (CPB) reported higher-than-expected Q1 adjusted earnings and backed its FY24 adjusted EPS view [read more]
- Apple (AAPL) readies new iPads, M3 MacBook Air for early next year, Bloomberg says [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Nio (NIO) is planning to spin off its battery manufacturing unit, Reuters says [read more]
- Nvidia (NVDA) is still planning to sell its high-end chips to China, WSJ says [read more]
- Amazon (AMZN) is planning to cut seller fees on clothing items in a bid to compete with Shein, Bloomberg says [read more]
- Ares Management (ARES), Sportsology in talks to buy stake in MLB's Rangers, Bloomberg says [read more]
- Allete (ALE) is working with JPMorgan (JPM) to explore a possible sale, Reuters says [read more]
4. MOVERS:
- Blackstone Mortgage (BXMT) slides after Carson Block's Muddy Waters announces short position [read more]
- SentinelOne (S) increases after reporting quarterly results and raising its FY24 guidance [read more]
- Dave & Buster's (PLAY) gains after reporting quarterly results [read more]
- Yext (YEXT) declines after reporting quarterly results [read more]
- Fluence (FLNC) falls after announcing an 18M share offering [read more]
5. EARNINGS/GUIDANCE:
- Asana (ASAN) reported Q4 results, provided guidance for Q4, and raised its FY24 outlook [read more]
- United Natural Foods (UNFI) reported Q1 results and backed its FY24 guidance, with CEO Sandy Douglas commenting that performance "exceeded our expectations" [read more]
- Stitch Fix (SFIX) announced Q1 results and provided guidance for Q2 and FY24, with CEO Matt Baer commenting, "This quarter's results are encouraging, and I'm pleased with the progress we have made to date" [read more]
- Rent The Runway (RENT) reported Q3 results, with EPS and revenue missing consensus [read more]
- AeroVironment (AVAV) reported Q2 results and raised its guidance for FY24, with CEO Wahid Nawabi commenting that "results exceeded expectations, underscored by the highest second quarter revenue in company history combined with strong bottom-line performance" [read more]
INDEXES:
The Dow fell 70.13, or 0.19%, to 36,054.43, the Nasdaq lost 83.20, or 0.58%, to 14,146.71, and the S&P 500 declined 17.84, or 0.39%, to 4,549.34.