Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Target (TGT) reported upbeat Q4 results and provided Q1 and FY24 guidance [read more]
- Western Digital (WDC) has named David Goeckeler CEO Designate for the Flash spinoff company following its plan to separate into two companies [read more]
- Crown Castle (CCI) said that litigation brought by Ted Miller and Boots Capital is "unfounded" [read more]
- Boeing (BA) was awarded a communications satellite production contract by the U.S. Space Force [read more]
- Research firm Counterpoint is estimating that Apple's (AAPL) iPhone sales in China fell 24% in 2024 to date, according to Reuters [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Joann (JOAN) is planning to file for bankruptcy, Bloomberg says [read more]
- Tesla's (TSLA) German Gigafactory halted output and was left without power after a suspected arson attack set an electricity pylon ablaze close to the site early on Tuesday, Reuters reports [read more]
- AMD (AMD) will need an export license for its made-for-China chips, Bloomberg says [read more]
- Bayer (BAYRY) CEO Bill Anderson said the conglomerate is "badly broken" and is unable to split up, FT reports [read more]
- Eli Lilly (LLY) is working to secure outsources to boost production of its obesity drug Zepbound, FT says [read more]
4. MOVERS:
- Apogee Therapeutics (APGE) higher after reporting quarterly results [read more]
- Viavi (VIAV) gains after announcing it will acquire Spirent Communications in a $1.28B transaction [read more]
- Vivid Seats (SEAT) and Amer Sports (AS) decrease in New York after reporting quarterly results [read more]
- Albemarle (ALB) falls after announcing a $1.75B depositary shares offering [read more]
- Kosmos (KOS) declines after announcing a $300M notes offering [read more]
5. EARNINGS/GUIDANCE:
- AeroVironment (AVAV) reported Q3 results and raised its FY24 guidance [read more]
- GitLab (GTLB) reported Q4 results, with CEO Sid Sijbrandij commenting, "We delivered a strong fourth quarter and continue to see large enterprise customers standardize on Gitlab to realize business value" [read more]
- Paymentus (PAY) announced Q4 results and provided guidance for Q1 and FY24 [read more]
- Stitch Fix (SFIX) reported Q2 results, with EPS and revenue missing consensus [read more]
- Ferguson (FERG) reported Q4 results, with CEO Kevin Murphy commenting, "Our associates continued to execute well during our seasonally lightest quarter" [read more]
INDEXES:
Near midday, the Dow was down 307.55, or 0.79%, to 38,682.28, the Nasdaq was down 286.62, or 1.77%, to 15,920.89, and the S&P 500 was down 49.44, or 0.96%, to 5,081.51.