Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Nvidia (NVDA) reported better-than-expected Q4 earnings and revenue and gave better-than-expected Q1 revenue guidance [read more]
- Rivian Automotive (RIVN) reported mixed Q4 results and gave a 2024 production and delivery outlook that was short of estimates [read more]
- Etsy (ETSY) reported lower-than-expected Q4 earnings but upbeat quarterly revenue [read more]
- Moderna (MRNA) reported an unexpected Q4 profit and reaffirmed its 2024 product sales outlook [read more]
- A network disruption affecting AT&T (T) customers in the U.S. has prompted federal agencies to investigate whether the outage was caused by a cyberattack, ABC News reports [read more]
2. WALL STREET CALLS:
- Morgan Stanley upgraded DoorDash (DASH) to Overweight [read more]
- Cantor Fitzgerald downgraded Lucid Group (LCID) to Underweight [read more]
- Bernstein downgraded Wendy's (WEN) to Market Perform the day after JPMorgan cut the stock's rating to Neutral [read more]
- Evercore ISI downgraded Capital One (COF) to In Line, arguing that Discover (DFS) deal uncertainty could limit upside in the shares [read more]
- Stifel initiated coverage of Celcuity (CELC) with a Buy rating and $40 price target, saying investors "can no longer overlook" the stock [read more]
3. AROUND THE WEB:
- Danone (DANOY) plans to sell its rebranded Russian business Life & Nutrition to Vamin Tatarstan, FT reports [read more]
- Indonesian President Joko Widodo signed a regulation requiring digital platforms to pay media outlets that provide them with content, which would affect Meta's (META) Facebook and Alphabet's (GOOGL) Google, Reuters reports [read more]
- U.S. Senator Josh Hawley is calling on the Biden administration to block Capital One's (COF) proposed takeover of Discover (DFS), Axios says [read more]
- Apple (AAPL) is coming under fire from Meta and Microsoft (MSFT), who claim the company's plans to comply with the E.U.'s Digital Markets Act do not go far enough, FT reports [read more]
- Baidu (BIDU) is the "most underappreciated name in AI" and should "trade to $210", Citron Research says [read more]
4. MOVERS:
- Novavax (NVAX) higher after reaching a settlement with Gavi related to the 2021 APA for the company's prototype COVID-19 vaccine [read more]
- Remitly (RELY) increases in New York after reporting quarterly results [read more]
- Ocular Therapeutics (OCUL) gains after entering into a purchase agreement to sell 32.4M shares [read more]
- Fluence Energy (FLNC) falls after Blue Orca Capital released a short report on the company [read more]
- Sunnova Energy (NOVA) declines in New York after announcing results for Q4 [read more]
5. EARNINGS/GUIDANCE:
- Royal Caribbean (RCL) raised its FY24 adjusted earnings guidance [read more]
- Wayfair (W) reported Q4 results and provided guidance for Q1 and FY24, with CEO Niraj Shah commenting, "Q4 was another definitive step on our profitability journey and a reflection of the immense progress we achieved throughout the entire year" [read more]
- Planet Fitness (PLNT) reported Q4 results and providing guidance for FY24 [read more]
- Lucid Group (LCID) reported Q4 results, with revenue missing consensus [read more]
- Five9 (FIVN) reported Q4 results, with CEO Mike Burkland commenting, "We are pleased to report strong revenue growth of 17% for full year 2023" [read more]
INDEXES:
The Dow rose 456.87, or 1.18%, to 39,069.11, the Nasdaq gained 460.75, or 2.96%, to 16,041.62, and the S&P 500 advanced 105.23, or 2.11%, to 5,087.03.