Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Victoria's Secret (VSCO) reported upbeat Q4 earnings and announced a $250M share repurchase program [read more]
- Ciena (CIEN) reported better-than-expected Q1 results and cut its FY24 revenue guidance [read more]
- Intel (INTC) is poised to win $3.5B to make chips for the U.S. military, Bloomberg reports [read more]
- Kroger (KR) reported upbeat Q4 earnings and revenue but provided a lower-than-expected outlook for FY24 earnings [read more]
- GE Aerospace (GE) provided FY24 and FY25 guidance as part of its capital allocation framework as a standalone company [read more]
2. WALL STREET CALLS:
- Stifel upgraded Micron Technology (MU) to Buy with a price target of $120 [read more]
- TD Cowen upgraded Shake Shack to Outperform [read more]
- JPMorgan downgraded Victoria's Secret (VSCO) to Underweight following the company's Q4 report [read more]
- Baird upgraded Akamai Technologies (AKAM) to Outperform [read more]
- Jefferies initiated coverage of Rivian Automotive (RIVN) with a Buy rating and $16 target [read more]
3. AROUND THE WEB:
- Warner Bros. Discovery (WBD) is shutting down Rooster Teeth, Variety says [read more]
- Exxon Mobil (XOM) has filed for arbitration to protect what it says is its right to preempt Chevron's (CVX) bid for a stake in an oil project off Guyana, WSJ says [read more]
- Meta (META) is planning to wind down its authorized sales partner program, WSJ reports [read more]
- Boeing (BA) has yet to meet federal regulator's request for a list of employees who worked on the door panel that blew out mid-flight on the 737 Max, FT reports [read more]
- Google (GOOGL) has opened its first Asia-Pacific cyberdefense hub in Tokyo, Nikkei Asia says [read more]
4. MOVERS:
- Novo Nordisk (NVO) higher in New York after providing a progress update on its "Strategic Aspirations 2025" [read more]
- American Eagle (AEO) and Yext (YEXT) gain in New York after reporting quarterly results [read more]
- Rush Street Interactive (RSI) increases after reporting quarterly results and providing guidance for FY24 [read more]
- ADT (ADT) falls after announcing a 55M share offering [read more]
- Avid Bioservices (CDMO) declines after announcing a $160M notes offering [read more]
5. EARNINGS/GUIDANCE:
- Cigna (CI) backed its FY24 guidance [read more]
- Big Lots (BIG) reported Q4 results, with EPS missing consensus [read more]
- Burlington Stores (BURL) reported Q4 results and provided guidance for FY24 and Q1 [read more]
- Honest Company (HNST) reported Q4 results, with CEO Carla Vernon commenting, "Our fourth quarter results demonstrate the benefit that our Transformative Initiative has had on the business" [read more]
- Infinera (INFN) announced preliminary Q4 results [read more]
INDEXES:
Near midday, the Dow was up 164.79, or 0.43%, to 38,811.92, the Nasdaq was up 220.20, or 1.37%, to 16,251.75, and the S&P 500 was up 48.61, or 0.95%, to 5,150.33.