Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Capital One (COF) agreed to acquire Discover (DFS) in an all-stock transaction valued at $35.3B [read more]
- Walmart (WMT) reported upbeat Q4 results, increased its annual dividend, and said that it crossed $100B in e-commerce sales [read more]
- In addition, Vizio (VZIO) agreed to be acquired by Walmart for $11.50 per share in cash [read more]
- Home Depot (HD) reported upbeat Q4 earnings and revenue and raised its quarterly dividend [read more]
- The U.S. Department of Commerce announced $1.5B in planned direct funding for GlobalFoundries (GFS) [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Forvia (FURCF) plans to cut up to 10,000 jobs, WSJ reports [read more]
- Exxon Mobil (XOM) has warned it may withhold billions in climate-related investments in Europe, FT reports [read more]
- Japan's transport of ministry is poised to take regulatory action against Toyota Motor (TM) affiliate Toyota Industries, Nikkei says [read more]
- Buyout firms, including Advent International, Blackstone Group (BX), Bain Capital, CVC Capital Partners, EQT AB and KKR (KKR) have interest in Sanofi's (SNY) consumer health division, Bloomberg says [read more]
- The White House is in discussions to confer over $10B in subsidies to Intel (INTC), Bloomberg says [read more]
4. MOVERS:
- Iovance (IOVA) higher as analysts raised targets after Amtagvi received accelerated approval with a broad label in post-PD-1 metastatic melanoma [read more]
- Barclays (BCS) rises in New York after reporting quarterly results [read more]
- Alaska Air (ALK) gains after Deutsche Bank upgraded the stock to Buy from Hold [read more]
- Rapt Therapeutics (RAPT) falls after announcing the FDA placed a clinical hold on studies evaluating zelnecirnon [read more]
- Summit Therapeutics (SMMT) declines after announcing a 2.98M share offering [read more]
5. EARNINGS/GUIDANCE:
- Medtronic (MDT) reported Q3 results and raised it FY24 guidance [read more]
- General Mills (GIS) reaffirmed its FY24 outlook [read more]
- Visteon (VC) reported Q4 results, with CEO Sachwin Lawande commenting, "Visteon delivered another strong performance in 2023" [read more]
- Expeditors (EXPD) reported Q4 results, with EPS and revenue missing consensus [read more]
- Middleby (MIDD) reported Q4 results, with EPS beating consensus [read more]
INDEXES:
Near midday, the Dow was down 87.87, or 0.23%, to 38,540.12, the Nasdaq was down 221.86, or 1.41%, to 15,553.80, and the S&P 500 was down 37.18, or 0.74%, to 4,968.39.