Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Disney (DIS) reported upbeat Q1 earnings and announced a $1.5B investment in "Fortnite" maker Epic Games [read more]
- Arm (ARM) reported better-than-expected Q3 results but provided downbeat FY24 earnings and revenue guidance [read more]
- PayPal (PYPL) reported upbeat Q1 results and provided FY24 earnings guidance [read more]
- Alphabet's (GOOG) Google is renaming its AI chatbot to Gemini from Bard [read more]
- GoPro (GPRO) reported downbeat Q4 revenue and provided downbeat Q1 earnings guidance [read more]
2. WALL STREET CALLS:
- Needham upgraded Disney (DIS) to Buy as the firm contends "The Magic's Back" [read more]
- Morgan Stanley downgraded American Express (AXP) to Equal Weight while upgrading Ally (ALLY) and Discover (DFS) Overweight [read more]
- Macquarie downgraded Alibaba (BABA) to Neutral on more aggressive spending [read more]
- Deutsche Bank downgraded AstraZeneca (AZN) to Sell after a "thoroughly underwhelming" Q4 report [read more]
- Barclays upgraded Roblox (RBLX) to Equal Weight and Goldman Sachs also upgraded Roblox to Neutral following "robust" Q4 results on Wednesday [read more]
3. AROUND THE WEB:
- Apple (AAPL) is partnering with the University of California researchers to release open-source AI model MGIE, VentureBeat reports [read more]
- Alibaba (BABA) cut its headcount by 20,000 in 2023, Bloomberg says [read more]
- Meta Platforms (META) has challenged a supervisory fee of 0.05% related to the E.U.'s Digital Services Act, Reuters says [read more]
- Exxon Mobil (XOM) was criticized by the CEO of Norway's $1.5T oil fund over its decision to two sue shareholders, FT says [read more]
- Devon Energy (DVN) has approached Enerplus (ERF) with an acquisition offer, Reuters reports [read more]
4. MOVERS:
- Confluent (CFLT) higher after reporting Q1 results and providing guidance for FY24 [read more]
- AST SpaceMobile (ASTS) gains after announcing a new contract award from a prime contractor working with the United States Government [read more]
- Oscar Health (OSCR) and Viking Therapeutics (VKTX) increase after reporting quarterly results [read more]
- Digital Turbine (APPS) falls after reporting Q3 results [read more]
- Lumentum (LITE) and Lightspeed (LSPD) decline in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Under Armour (UAA) reported Q3 results and adjusted its FY24 guidance [read more]
- Kellanova (K) reported Q4 results, with EPS and revenue beating consensus [read more]
- Philip Morris (PM) reported Q4 results and provided guidance for FY24 [read more]
- Hershey (HSY) announced Q4 results, with CEO Michele Buck commenting, "We are encouraged by the resilience of seasonal traditions and the consumer response to innovation within our categories" [read more]
- Ralph Lauren (RL) reported Q3 results, provided guidance for Q4, and announced its outlook for FY24 [read more]
INDEXES:
Near midday, the Dow was down 98.87, or 0.26%, to 38,578.49, the Nasdaq was up 32.43, or 0.21%, to 15,789.07, and the S&P 500 was down 4.93, or 0.10%, to 4,990.13.