Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Block (SQ) reported better-than-expected Q4 results [read more]
- Booking (BKNG) reported better-than-expected Q4 results and initiated a quarterly dividend [read more]
- Intuit (INTU) reported upbeat Q4 results and reiterated its FY24 earnings and revenue outlook [read more]
- Warner Bros. Discovery (WBD) reported lower-than-expected Q4 earnings and revenue [read more]
- U.S. Senator Elizabeth Warren said that regulators should scrutinize Walmart's (WMT) proposed takeover of Vizio (VZIO) [read more]
2. WALL STREET CALLS:
- JPMorgan upgraded Fluence Energy (FLNC) to Overweight, calling the 13% share decline yesterday following the issuance of a short report "overdone" [read more]
- UBS double downgraded Rivian Automotive (RIVN) to Sell [read more]
- JPMorgan downgraded Nio (NIO) to Underweight [read more]
- Barclays upgraded DraftKings to Overweight [read more]
- Seaport upgraded Block (SQ) to Buy on "impressive" profitable growth, while Wells also upgraded Square's parent to Overweight following last night's earnings report [read more]
3. AROUND THE WEB:
- AT&T (T) says its outage on February 22 was "caused by the application and execution of an incorrect process" as it was expanding its network, ABC News reports [read more]
- Google (GOOGL) plans to start assembling the Pixel 8 Pro in southern India in the second quarter, Nikkei Asia says [read more]
- Meta (META) safety staff warned the company last year that its paid subscription tools on Facebook and Instagram were being misused by adults, WSJ reports [read more]
- Community Health (CYH) is facing a new federal probe into its hospital billing practices, STAT reports [read more]
- President Biden's administration is examining Nippon Steel's (NPSCY) connections to China, Bloomberg says [read more]
4. MOVERS:
- Maravai Lifesciences (MRVI) higher after reporting quarterly results, with EPS and revenue beating consensus [read more]
- Nextdoor (KIND) increases after announcing CEO Sarah Friar will step down [read more]
- RB Global (RBA) higher after reporting Q4 results [read more]
- Fox Factory (FOXF) and Gray Television (GTN) fall after reporting quarterly results [read more]
- Indie Semiconductor (INDI) declines after reporting quarterly results and providing guidance for Q1 [read more]
5. EARNINGS/GUIDANCE:
- Bloomin' Brands (BLMN) reported Q4 results, provided guidance for FY24, and announced a $350M share repurchase plan [read more]
- Applied Optoelectronics (AAOI) reported Q4 results and provided guidance for Q1, with CEO Thompson Lin commenting, "We're pleased by the continued progress we have made in improving our gross margin" [read more]
- Lamar Advertising (LAMR) reported Q4 results and provided guidance for FY24 [read more]
- Docebo (DCBO) reported Q4 results, with EPS and revenue beating consensus [read more]
- Frontier Communications (FYBR) reported Q4 results, with CEO Nick Jeffery commenting, "We believe this year marks a critical inflection point in our business [read more]
INDEXES:
Near midday, the Dow was up 135.70, or 0.35%, to 39,204.81, the Nasdaq was down 15.24, or 0.09%, to 16,026.39, and the S&P 500 was up 7.15, or 0.14%, to 5,094.18.