Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Nike (NKE) reported a fiscal Q2 beat and second half of the year sales guidance cut, adding that it is identifying opportunities to deliver up to $2B in cost savings [read more]
- Bristol Myers (BMY) agreed to acquire Karuna Therapeutics (KRTX) for $330 per share in cash [read more]
- Screaming Eagle Acquisition (SCRM) will merge with the studio business of Lionsgate (LGF.A) [read more]
- TFI International (TFII) agreed to acquire Daseke (DSKE) for $8.30 per share in cash [read more]
- Theseus Pharmaceuticals (THRX) agreed to be acquired by Concentra for $3.90-$4.05 per share [read more]
2. WALL STREET CALLS:
- TD Cowen downgraded Nike (NKE) to Market Perform following last night's fiscal Q2 report [read more]
- Lumentum (LITE) upgraded to Buy at Craig-Hallum with telecom set to bottom "soon" [read more]
- TD Cowen downgraded Paychex (PAYX) to Market Perform [read more]
- JPMorgan double downgraded AlloVir (ALVR) to Underweight from Overweight after the discontinuation of all three ongoing pivotal trials of lead asset posoleucel [read more]
- HSBC initiated coverage of CVS Health (CVS) with a Buy rating and $94 price target [read more]
3. AROUND THE WEB:
- Deutsche Bank (DB) has discovered thousands of forgotten and unresolved complaints in its retail operation Postbank, FT reports [read more]
- Synopsys (SNPS) in talks to acquire Ansys (ANSS), Reuters and WSJ report [read more]
- An Italian tax claim against Meta (META) has been escalated to the E.U. Commission's VAT committee for evaluation, Reuters reports [read more]
- U.S. auto makers General Motors (GM) and Ford (F) will lose some U.S. electric vehicle tax credits, Reuters says [read more]
- Apple (AAPL) is in talks with news publishers over generative AI deals, NY Times reports [read more]
4. MOVERS:
- Rocket Lab (RKLB) rises after announcing a contract with a U.S. government customer valued at $515M [read more]
- Coinbase (COIN) up after JMP Securities raised its price target on the stock to $200 from $107 [read more]
- Occidental Petroleum (OXY) higher after Berkshire Hathaway (BRK.A) bought another 5.2M shares of the company's stock [read more]
- NetEase (NTES) falls in New York after China's National Press and Publication Administration released draft regulations for the online gaming industry that included restrictions on incentives to play or spend more online [read more]
- Foot Locker (FL) declines after Nike (NKE) reported quarterly results [read more]
5. EARNINGS/GUIDANCE:
- AAR Corp. (AIR) reported Q2 EPS and revenue higher year-over-year [read more]
- Kolibri Global Energy (KGEI) provided guidance for FY23 [read more]
- Catheter Precision (VTAK) reported Q3 results, with CEO David Jenkins commenting, "We… have a lot of momentum as we move into the fourth quarter" [read more]
- Nordson (NDSN) provided guidance for FY24 [read more]
- Limoneira (LMNR) reported Q4 results, with CEO Harold Edwards commenting, "I am pleased with our performance in fiscal year 2023" [read more]
INDEXES:
The Dow fell 18.38, or 0.049%, to 37,385.97, the Nasdaq gained 29.11, or 0.19%, to 14,992.97, and the S&P 500 advanced 7.88, or 0.17%, to 4,754.63.