Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Kevin Plank is returning as CEO of Under Armour (UAA) to replace Stephanie Linnartz [read more]
- Dollar General (DG) reported better-than-expected Q4 results but provided lower-than-expected FY24 earnings guidance [read more]
- Dick's Sporting (DKS) reported upbeat Q4 earnings and revenue and raised its annualized dividend 10% [read more]
- Former Treasury Secretary Steven Mnuchin told CNBC that he's "putting together" a group to buy TikTok [read more]
- Altria Group (MO) intends to sell a portion of its investment in Anheuser-Busch InBev (BUD) and is using proceeds to increase its share buyback program [read more]
2. WALL STREET CALLS:
- Evercore ISI downgraded Under Armour (UAA) to Underperform while Exane and Williams Trading also downgraded the stock to Neutral-equivalent ratings following the company's CEO change [read more]
- Goldman Sachs upgraded Citi (C) to Buy [read more]
- Williams-Sonoma (WSM) upgraded to Neutral at Goldman Sachs and to Equal Weight at Morgan Stanley [read more]
- Bernstein initiated coverage of Robinhood (HOOD) with an Outperform rating ahead of "monster of a crypto cycle" [read more]
- BofA upgraded Utz Brands (UTZ) to Buy after having hosted meetings with the company's CEO and CFO earlier this week [read more]
3. AROUND THE WEB:
- Alibaba (BABA) will take on Coupang (CPNG) with a $1.1B investment in South Korea, Nikkei reports [read more]
- Spruce Point is short Enfusion (ENFN) and sees 40%-60% long-term downside risk [read more]
- Meta (META) is suing a former VP over allegedly stealing documents, Bloomberg reports [read more]
- Apple (AAPL) has bought Canada's DarwinAI as part of a race to add features, Bloomberg says [read more]
- Anson Funds has built a stake in Match Group (MTCH) and is pushing for a board refresh, Bloomberg reports [read more]
4. MOVERS:
- Turtle Beach (HEAR) surges after reporting quarterly results, agreeing to acquire PDP, launching a modified Dutch Auction tender offer, and naming Cris Keirn CEO [read more]
- Autolus Therapeutics (AUTL) rises after reporting annual results and saying it is "well capitalized" for pipeline development plans [read more]
- Lithium Americas (LAC) higher after receiving a $2.26B Thacker Pass project commitment from the DOE [read more]
- Fisker (FSR) sinks after the Wall Street Journal reported that the company is preparing for a possible bankruptcy filing [read more]
- Hello Group (MOMO) lower after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
INDEXES:
The Dow fell 137.66, or 0.35%, to 38,905.66, the Nasdaq lost 49.24, or 0.30%, to 16,128.53, and the S&P 500 declined 14.83, or 0.29%, to 5,150.48.