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]
- Alteryx (AYX) is in advanced talks to go private for over $50 per share, Reuters reports [read more]
- India is not planning to cut the EV import tax in a blow to Tesla (TSLA), Bloomberg reports [read more]
- Unilever (UL) is in advanced talks to sell Elida Beauty to Yellow Wood, Reuters says [read more]
4. MOVERS:
- Shift4 Payments (FOUR) rises after Bloomberg reported Global Payments (GPN) is weighing a deal for the company [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:
The Dow rose 158.11, or 0.43%, to 37,248.35, the Nasdaq gained 27.59, or 0.19%, to 14,761.56, and the S&P 500 advanced 12.46, or 0.26%, to 4,719.55.