Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Caterpillar (CAT) reported upbeat Q4 earnings and provided FY24 revenue guidance [read more]
- McDonald's (MCD) reported better-than-expected Q4 adjusted earnings, with global comparable sales up 3.4% year-over-year [read more]
- Novo Holdings (NVO) agreed to acquire Catalent (CTLT) for $63.50 per share in cash, or $16.5B [read more]
- Everbridge (EVBG) agreed to be acquired by Thoma Bravo for $1.5B in cash [read more]
- Snap (SNAP) will cut 10% of its global full-time workforce [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Stellantis (STLA) Chairman John Elkann denied the company is eying a potential merger with Renault (RNSDF), Reuters says [read more]
- Novartis (NVS) is in advanced talks to acquire MorphoSys (MOR), Reuters reports [read more]
- Boeing (BA) delays some of its 737 Max deliveries after Spirit AeroSystems (SPR) discovered two mis-drilled holes on some fuselages, Reuters says [read more]
- Archer Daniels' (ADM) accounting is being investigated by the DOJ, Bloomberg reports [read more]
- HP Enterprise (HPE) is investigating allegedly stolen data, BleepingComputer says [read more]
4. MOVERS:
- 4D Molecular (FDMT) higher after presenting interim data from its Phase 2 PRISM trial [read more]
- Elanco (ELAN) gains after announcing it will sell its aqua business to Merck (MRK) for $1.3B in cash [read more]
- PureCycle Technologies (PCT) rises after reaching an agreement in principle to buy Ironton bonds [read more]
- ImmunityBio (IBRX) falls after announcing findings from its phase 2/3 QUILT 3.032 study of N-803 plus BCG [read more]
- Marathon Digital (MARA) declines after announcing it produced 1,084 bitcoin in January [read more]
5. EARNINGS/GUIDANCE:
- Estee Lauder (EL) reported Q2 results and cut its FY24 guidance, with CEO Fabrizio Freda commenting, "we delivered our organic sales outlook and exceeded expectations for profitability" [read more]
- Tyson Foods (TSN) reported Q1 results, with EPS and revenue beating consensus [read more]
- Bowlero (BOWL) reported Q4 results, boosted its share repurchase program, and reaffirmed its FY24 revenue outlook [read more]
- Air Products (APD) reported Q1 results, with CEO Seifi Ghasemi commenting, "Despite significant geopolitical and economic headwinds, the team at Air Products performed well" [read more]
- ON Semiconductor (ON) announced Q4 results, with EPS and revenue beating consensus [read more]
INDEXES:
The Dow fell 274.30, or 0.71%, to 38,380.12, the Nasdaq lost 31.28, or 0.20%, to 15,597.68, and the S&P 500 declined 15.80, or 0.32%, to 4,942.81.