Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Snowflake (SNOW) fell after a sharper than anticipated deceleration implied in the fiscal 2025 guidance and a CEO change [read more]
- Salesforce (CRM) reported upbeat Q4 results and provided its outlook for Q1 and FY25 [read more]
- Paramount (PARA) reported unexpected Q4 earnings, but lower-than-expected Q4 revenue [read more]
- HP Inc. (HPQ) reported downbeat Q1 revenue but in-line earnings and reiterated its FY24 outlook [read more]
- WW (WW) reported downbeat Q4 earnings and revenue and announced that Oprah Winfrey will donate her stake in the company in March as she leaves the board [read more]
2. WALL STREET CALLS:
- Macquarie upgraded Snowflake (SNOW) based on what it calls a "temporary disconnect" post earnings, while Morgan Stanley downgraded the shares to Equal Weight [read more]
- BofA double upgraded Okta (OKTA) to Buy ahead of what it see being a year of "beat & raise" [read more]
- Jefferies downgraded Tapestry (TPR) to Hold [read more]
- Goldman downgraded uniQure (QURE) on what it sees as an uncertain path in Huntington's [read more]
- Macy's (M) downgraded to Market Perform at TD Cowen [read more]
3. AROUND THE WEB:
- Alibaba (BABA) will cut cloud product prices in China by 20%, WSJ reports [read more]
- AB InBev (BUD) and the International Brotherhood of Teamsters have reached a tentative agreement on a labor contract, WSJ reports [read more]
- Microsoft's (MSFT) security software practices are being probed by the EU, The Information reports [read more]
- The Department of Justice is probing Boeing (BA) due to a midair blowout in January on an Alaska Air (ALK) flight that may lead to criminal prosecution, Bloomberg says [read more]
- Kotaku reported that Embracer (THQQF) is close to selling Gearbox Entertainment, while Bloomberg said that the company also intends to sell its Saber unit in a $500M deal [read more]
4. MOVERS:
- Polestar (PSNY) higher in New York after announcing yesterday it secured $950M in external funding and confirmed its 2025 volume target [read more]
- C3.ai (AI) and Hormel (HRL) higher after reporting quarterly results [read more]
- FMC Corporation (FMC) rises after CFO Andrew Sandifer said the company is "starting to see signs of a return to visibility" [read more]
- Amarin (AMRN) and Figs (FIGS) fall in New York after reporting quarterly results [read more]
- Chemours (CC) declines after placing CEO Mark Newman and CFO Jonathon Lock on administrative leave [read more]
5. EARNINGS/GUIDANCE:
- Best Buy (BBY) reported Q4 results, with CEO Corie Barry commenting, "In the fourth quarter and throughout FY24, we demonstrated strong operational execution as we navigated a pressured consumer electronics sales environment" [read more]
- Okta (OKTA) reported Q4 results, provided guidance for Q1, and announced its outlook for FY25 [read more]
- Monster Beverage (MNST) announced Q4 results, with EPS and revenue falling short of consensus [read more]
- Duolingo (DUOL) reported Q4 results and provided guidance for Q1 and FY24 [read more]
- Bath & Body Works (BBWI) reported Q4 results, with CEO Gina Boswell commenting, "The team delivered fourth quarter net sales and earnings that exceeded the high end of our expectations" [read more]
INDEXES:
The Dow rose 47.37, or 0.12%, to 38,996.39, the Nasdaq gained 144.19, or 0.90%, to 16,091.92, and the S&P 500 advanced 26.51, or 0.52%, to 5,096.27.