Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Tesla (TSLA) reported downbeat Q4 earnings and revenue and said its vehicle volume growth rate "may be notably lower" in 2024 than last year [read more]
- Humana (HUM) reported mixed Q4 results and added that it no longer believes its 2025 adjusted earnings per share target is achievable [read more]
- IBM (IBM) reported better-than-expected Q4 earnings and revenue [read more]
- The FAA has halted Boeing's (BA) plans to expand MAX production pending improved quality control [read more]
- David Ellison has made a preliminary offer to buy National Amusements as a way to gain control of Paramount Global (PARA), Bloomberg reports [read more]
2. WALL STREET CALLS:
- Tesla (TSLA) downgraded to Neutral from Outperform at KGI Securities [read more]
- Boeing (BA) downgraded to Neutral at BofA as FAA caps 737 MAX production [read more]
- Hertz (HTZ) was downgraded to Hold at Deutsche Bank and to Neutral at JPMorgan [read more]
- Meanwhile, Deutsche Bank upgraded Avis Budget (CAR) to Buy as the firm is seeing an "unreasonably wide risk/reward disconnect between the two stocks" [read more]
- Williams downgraded VF Corp. (VFC) to Sell on lack of signs of Vans brand turnaround [read more]
3. AROUND THE WEB:
- Sycamore Partners is exploring a possible bid to buy Macy's (M), NY Post reports [read more]
- Rivian (RIVN) has filed plans for a global product launch on March 7, Electrek reports [read more]
- Google (GOOGL) has reached a settlement in an AI chip patent infringement lawsuit filed by Singular Computing, which sought $1.67B in damages, Reuters says [read more]
- Microsoft (MSFT) is laying off 1,900 employees at Activision Blizzard and Xbox, The Verge says [read more]
- KPS Capital Partners recently explored a bid for Elementis (EMNSF) but has since paused its work, Reuters says [read more]
4. MOVERS:
- American Superconductor (AMSC) rises after reporting quarterly results [read more]
- Vera Therapeutics (VERA) gains after announcing data from its Phase 2 ORIGIN trial of atacicept [read more]
- Lumen (LUMN) higher after entering into a transaction support agreement with a group of creditors [read more]
- Columbia Banking (COLB) falls after reporting quarterly results [read more]
- Rumble (RUM) declines after announcing the public launch of Rumble Studio [read more]
5. EARNINGS/GUIDANCE:
- ServiceNow (NOW) reported Q4 results, with EPS and revenue beating consensus [read more]
- Seagate (STX) announced Q2 results and provided guidance for Q3, with CEO Dave Mosley commenting, "Seagate delivered strong financial results in the December quarter" [read more]
- Comcast (CMCSA) reported Q4 results, with EPS and revenue coming ahead of consensus [read more]
- Dow Inc. (DOW) reported Q4 results and announced it expects softness in industrial and durable goods demand to continue in Q1 [read more]
- American Airlines (AAL) reported Q4 results, provided guidance for Q1, and announced its outlook for FY24 [read more]
INDEXES:
Near midday, the Dow was up 100.26, or 0.27%, to 37,906.65, the Nasdaq was up 111.67, or 0.72%, to 15,593.58, and the S&P 500 was up 25.02, or 0.51%, to 4,893.57.