Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Adobe (ADBE) reported better-than-expected Q4 results, but also disclosed that it received a Civil Investigative Demand from the FTC seeking information on its subscription cancellation policy [read more]
- Intel (INTC) introduced a portfolio of chips for artificial intelligence products [read more]
- Moderna (MRNA) and Merck (MRK) announced follow-up data from a Phase 2b study of a combination treatment for high-risk melanoma [read more]
- Trian nominated two candidates to Disney's (DIS) board [read more]
- The Bank of England maintained its Bank Rate at 5.25% while the European Central Bnak also kept its three key interest rates unchanged [read more]
2. WALL STREET CALLS:
- Citi sees Apple (AAPL) shares outperforming again in 2024 [read more]
- Piper Sandler upgraded Foot Locker (FL) to Overweight [read more]
- Stifel downgraded Deckers Outdoor (DECK) to Hold while laying out its view of the sports and lifestyle brand stocks to own in 2024 [read more]
- Morgan Stanley upgraded Live Nation (LYV) to Overweight [read more]
- Wolfe Research downgraded Northrop Grumman (NOC) to Underperform [read more]
3. AROUND THE WEB:
- Vivendi (VIVHY) is considering options for a $1.4B stake in Telecom Italia (TIAOF), Bloomberg reports [read more]
- Google (GOOG) is about to launch its plan to block third-party cookies in Chrome, The Verge says [read more]
- The European Court of Justice has sided with Amazon (AMZN) in a case in which the company was accused by the European Commission of illegal tax benefits, CNBC reports [read more]
- Tesla (TSLA) is looking to hire a government affairs specialist in Sweden who will help resolve the continually escalating strikes against the company in Nordic countries, FT says [read more]
- Foxconn (HNHPF) plans to invest at least $1B more into its 300-acre Bengaluru plant to make more Apple (AAPL) devices, Bloomberg reports [read more]
4. MOVERS:
- PacBio (PACB) up after Stephens initiated the stock with an Overweight rating [read more]
- Glaukos (GKOS) gains after announcing the FDA approved its new drug application for a single administration per eye of iDose TR [read more]
- Align Technology (ALGN) higher after Health Canada issued an updated medical device license for its Palatal Expander [read more]
- Appellis (APLS) falls after announcing it expects the CHMP to adopt a negative opinion on its MAA for pegcetacoplan [read more]
- Cardinal Health (CAH) declines after Wells Fargo initiated coverage of the stock with an Underweight rating [read more]
5. EARNINGS/GUIDANCE:
- Jabil (JBL) reported Q1 results, provided guidance for Q2, and backed its FY24 outlook [read more]
- Alaska Air (ALK) provided guidance for Q4 [read more]
- Nucor (NUE) provided EPS guidance for Q4 that missed consensus [read more]
- Amtech Systems (ASYS) reported Q4 revenue, with CEO Bab Daigle commenting "We experienced continued softness in demand across several of our end markets during the fourth quarter" [read more]
- Chijet Motor (CJET) reaffirmed its FY24 revenue guidance [read more]
INDEXES:
Near midday, the Dow was up 111.07, or 0.30%, to 37,201.31, the Nasdaq was up 44.74, or 0.30%, to 14,778.70, and the S&P 500 was up 19.04, or 0.40%, to 4,726.13.