Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Pfizer (PFE) shares are falling after the drugmaker gave disappointing FY24 sales and profit guidance [read more]
- Tesla (TSLA) is recalling over 2M vehicles to fix a defective system meant to ensure drivers are paying attention to the road when using Autopilot, AP reports [read more]
- Take-Two Interactive (TTWO) rises after Nasdaq said the video game maker's stock will be added to the Nasdaq-100 Index [read more]
- Integra LifeSciences Holdings (IART) announced an agreement to acquire Acclarent from Ethicon, a Johnson & Johnson (JNJ) MedTech company, for $275M in cash at closing and an additional $5M upon the achievement of certain regulatory milestones [read more]
- The U.S. Federal Reserve kept interest rates unchanged at 5.25%-5.5% and projections signaled multiple rate cuts may come in 2024 [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Twilio (TWLO) has hired Qatalyst Partners to advise on its defense against a group of activist investors, CNBC reports [read more]
- U.S. Steel's (X) board is meeting to review bids received for the company, including "multiple bids" valued at over $40 per share, CNBC says [read more]
- PGT Innovations (PGTI) has rejected a bid worth $2.2B from Koch-backed Miter Brands, Reuters reports [read more]
- EQT Corporation (EQT) is looking to sell a $3B portfolio of natural gas stakes, Reuters says [read more]
- Farfetch (FTCH) is in talks over emergency funding with Apollo (APO) and others, Sky News reports [read more]
4. MOVERS:
- Acadia Pharmaceuticals (ACAD) increases after company prevailed in a District Court patent hearing [read more]
- Photronics (PLAB) higher after reporting quarterly results [read more]
- Etsy (ETSY) slides after announcing the departure of its Chief Marketing Officer and an 11% reduction of its marketplace workforce [read more]
- Southwest (LUV) falls after cutting its Q4 RASM to 9%-10% year-over-year from 9%-11% year-over-year [read more]
- Payoneer Global (PAYO) declines after updating its Q4 guidance and providing an outlook for FY24 [read more]
5. EARNINGS/GUIDANCE:
- Rev Group (REVG) reported Q4 results and provided its guidance for FY24 [read more]
- Cognyte (CGNT) reported Q3 results, with CEO Elad Sharon commenting "We are executing well and are pleased to deliver another solid quarter" [read more]
- Loop Media (LPTV) reported Q4 EPS and revenue that missed consensus [read more]
- ABM (ABM) reported Q4 results and provided guidance for FY24 [read more]
- Adobe (ADBE) will report its quarterly results later today [read more]
INDEXES:
The Dow rose 512.30, or 1.4%, to 37,090.24, the Nasdaq gained 200.57, or 1.38%, to 14,733.96, and the S&P 500 advanced 63.69, or 1.37%, to 4,707.09.