Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Apple (AAPL) is reportedly in active negotiations to license Google's (GOOGL) artificial intelligence engine Gemini for the iPhone [read more]
- All eyes are on Nvidia (NVDA) as CEO Jensen Huang is set to deliver the keynote address to kick off the company's GPU Tech Conference, or GTC, later today [read more]
- U.S. prosecutors are probing Meta's (META) role in illegal drug sales, WSJ says [read more]
- Bloomberg reported that Shift4 (FOUR) CEO Jared Issacman told staff that the company had received multiple offers above its current stock price, but rejected these bids as not sufficient [read more]
- HashiCorp (HCP) has been mulling options including a potential sale, Bloomberg says [read more]
2. WALL STREET CALLS:
- Morgan Stanley upgraded PepsiCo (PEP) and named the stock the firm's top pick, both in beverages and overall in consumer packaged goods [read more]
- Williams downgraded Nike (NKE) to Sell ahead of expected guidance cut [read more]
- Monness Crespi upgraded Snowflake (SNOW) to Neutral after selloff [read more]
- Williams downgraded Hibbett (HIBB) to Hold amid Nike product challenges [read more]
- Bernstein upgraded Charter (CHTR) to Outperform [read more]
3. AROUND THE WEB:
- Carlyle Group (CG) is preparing to enter advanced discussions to buy a majority stake in Thyssenkrupp's naval shipbuilding unit, Bloomberg says [read more]
- Virgin Australia Airlines has pushed back plans to receive new Boeing (BA) aircraft due to the plane manufacturer's production problems, SMH reports [read more]
- TSMC (TSM) is looking to building advanced packaging capacity in Japan, Reuters said [read more]
- Uber (UBER) has agreed to pay $178.3M to settle a lawsuit in Australia brought by taxi operators and drivers, Reuters reports [read more]
- Xpeng (XPEV) plans to launch a cheaper brands, Reuters says [read more]
4. MOVERS:
- Nuvei (NVEI) higher in New York after providing a response to the recent press report that it is nearing a buyout deal with Advent [read more]
- Nuscale Power (SMR) gains after Canaccord raised its price target on the stock to $8 [read more]
- Ocugen (OCGN) increases after naming Huma Qamar as Chief Medical Officer [read more]
- B. Riley Financial (RILY) falls after announcing it is unable to file its 10-K due to delays in finalizing its financials [read more]
- Li Auto (LI) declines in New York after BofA lowered its price target on the stock to $55 [read more]
5. EARNINGS/GUIDANCE:
INDEXES:
Near midday, the Dow was up 167.66, or 0.43%, to 38,882.43, the Nasdaq was up 187.80, or 1.18%, to 16,160.97, and the S&P 500 was up 46.04, or 0.90%, to 5,163.13.