Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Coinbase (COIN) reported upbeat Q4 earnings and revenue [read more]
- DraftKings (DKNG) reported better-than-expected Q4 earnings and raised its FY24 revenue guidance [read more]
- DoorDash (DASH) reported mixed Q4 results and provided Q1 and FY24 adjusted EBITDA guidance [read more]
- Applied Materials (AMAT) reported upbeat Q1 earnings and revenue and provided its outlook for Q2 [read more]
- Nike (NKE) plans to reduce its workforce by 2%, or over 1,600 people, according to The Wall Street Journal [read more]
2. WALL STREET CALLS:
- Baird upgraded UPS (UPS) to Outperform on share pullback, exiting of cycle trough [read more]
- Oppenheimer sees no "quick fix" for Nike (NKE), downgraded shares to Perform [read more]
- Arm (ARM) downgraded to Neutral from Buy at Daiwa [read more]
- Loop Capital initiated coverage of Nvidia (NVDA) with a Buy rating and $1,200 price target, a high on the Street [read more]
- Morgan Stanley raised the firm's price target on Eli Lilly (LLY) to $950 and wonders if it could be the first $1T Biopharma stock [read more]
3. AROUND THE WEB:
- Meta (META) is reducing payments to news outlets that fact-check potential WhatsApp misinformation, The Information reports [read more]
- Teamsters workers at Marathon Petroleum's (MPC) refinery in Detroit have authorized a strike, WSJ says [read more]
- JPMorgan (JPM) has been sued by the CEO of Viva Wallet, a financial technology business co-owned by the company, FT reports [read more]
- In a recent legal filing, Amazon (AMZN) argued the NLRB was unconstitutional, NY Times reports [read more]
- Paramount (PARA) held talks with Comcast (CMCSA) over streaming partnership, WSJ says [read more]
4. MOVERS:
- Toast (TOST) gains after reporting Q4 results and authorizing an up to $250M share repurchase program [read more]
- HireRight (HRT) higher after announcing it will be acquired by General Atlantic and Stone Point for $14.35 per share [read more]
- Iris Energy (IREN) declines in New York after announcing filing to sell 2.07M shares [read more]
- Bloom Energy (BE) falls after reporting quarterly results and providing guidance for FY24 [read more]
- SunPower (SPWR) drops after Guggenheim downgraded the stock to Sell [read more]
5. EARNINGS/GUIDANCE:
- Cinemark (CNK) reported Q4 results, with EPS missing consensus [read more]
- Roku (ROKU) reported Q4 results, with Oppenheimer commenting the stock is range-bound until Roku sustainably delivers high-teens Platform revenue growth [read more]
- Trade Desk (TTD) announced Q4 results and provided guidance for Q1, with CEO Jeff Green commenting, "Once again The Trade Desk outpaced nearly all areas of digital advertising in 2023" [read more]
- Dropbox (DBX) disclosed its Q4 results, leading to JMP Securities, JPMorgan, BofA, and Goldman Sachs downgrading their respective ratings on the stock [read more]
- PPL Corp. (PPL) reported Q4 EPS and revenue that beat consensus [read more]
INDEXES:
Near midday, the Dow was down 3.35, or 0.01%, to 38,769.77, the Nasdaq was down 20.54, or 0.13%, to 15,885.63, and the S&P 500 was up 3.42, or 0.07%, to 5,033.15.