Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Costco (COST) reported what analysts called "solid" fiscal Q1 results coupled with the "early" surprise of a $15 per share special dividend that will be coming early next month [read more]
- Olive Garden parent Darden (DRI) reported better-than-expected Q2 profit and raised its FY24 adjusted EPS view [read more]
- The Securities and Exchange Commission denied a Petition for Rulemaking filed on behalf of Coinbase Global (COIN) [read more]
- Citi (C) is exiting the municipal bond business, WSJ reports [read more]
- Chobani announced a deal to acquire La Colombe for $900M that involves the exchange of Keurig Dr Pepper's (KDP) minority equity stake in the coffee company into Chobani equity [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- DocuSign (DOCU) in early stages of exploring sale, WSJ reports [read more]
- Callon Petroleum (CPE) exploring sale after receiving interest, Bloomberg reports [read more]
- Google (GOOGL) plans to use Gemini across nearly its entire line of products, The Information says [read more]
- Activist investor Ancora has built a stake in Elanco Animal Health (ELAN) and is urging for changes at the company, Bloomberg reports [read more]
- Elevance Health (ELV), HCSC vying for Cigna's (CI) Medicare Advantage unit, Bloomberg says [read more]
4. MOVERS:
- Homebuilder Lennar (LEN) declined despite reporting what Co-CEO Stuart Miller described as "another strong quarter" [read more]
- Palantir (PLTR) higher after announcing the extension of its partnership with the U.S. Army's Program Executive Officer for Enterprise Information Systems to continue operating the Army Vantage operations and platform [read more]
- Hershey (HSY) slips after BofA downgraded the shares [read more]
- Hanesbrands (HBI) falls after announcing chairman Ronald Nelson will retire and William Simon has been chosen to succeed [read more]
- Exelon (EXC) lower after BofA, Guggenheim and Evercore downgraded the stock following yesterday's "adverse" Illinois regulatory update [read more]
5. EARNINGS/GUIDANCE:
- Genius Group (GNS) provided guidance for FY23 [read more]
- Scholastic (SCHL) reported Q2 results and cut its FY24 guidance [read more]
- Quanex (NX) reported Q4 EPS and revenue that beat consensus, but slid after issuing comments on sales expectations for FY24 [read more]
- Utz Brands (UTZ) reaffirmed its FY23 revenue guidance [read more]
- BofA upgraded Micron (MU) to Buy and Stifel raised the firm's price target on the shares ahead of the company reporting fiscal Q1 earnings this coming Wednesday [read more]
INDEXES:
The Dow rose 56.81, or 0.15%, to 37,305.16, the Nasdaq gained 52.36, or 0.35%, to 14,813.92, and the S&P 500 declined 0.36, or 0.0076%, to 4,719.19.