Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Intel (INTC) and the U.S. Department of Commerce signed a non-binding preliminary memorandum of terms, or PMT, for up to $8.5B in direct funding to Intel for commercial semiconductor projects under the CHIPS Act [read more]
- Chipotle Mexican Grill (CMG) approved a 50-for-one split of its common stock [read more]
- Boeing (BA) CFO Brian West said at a conference that free cash flow usage will be a higher-than-originally-planned $4B-$4.5B this quarter [read more]
- Volkswagen (VWAGY) said it is "intensifying its partnership" with Mobileye (MBLY) in automated driving [read more]
- China's PDD (PDD) reported Q4 revenue and earnings that beat expectations, with Co-CEO Jiazhen Zhao noting that the company saw "growing demand driven by encouraging consumer sentiment" in the quarter [read more]
2. WALL STREET CALLS:
AROUND THE WEB:
- Reddit (RDDT) guiding IPO could price above range, Bloomberg says [read more]
- A South Korean strategic investor is in the running to acquire Topgolf Callaway (MODG), Chosun reports [read more]
- Microsoft (MSFT) hires DeepMind co-founder to run consumer AI, Bloomberg reports [read more]
- U.S. drivers have filed a proposed class action claiming Ferrari (RACE) has failed to fix vehicles at risk of a partial or total loss of braking capability, Reuters says [read more]
- Sycamore Partners is considering an offer for Gildan Activewear (GIL), Bloomberg says [read more]
4. MOVERS:
- Kingsoft Cloud (KC) higher in New York after reporting quarterly results [read more]
- Alight (ALIT) gains after announcing it will sell Payroll & Professional Services segment and its Payroll & HCM Outsourcing businesses to an affiliate of H.I.G. Capital for up to $1.2B [read more]
- Spirit (SPR) increases after Boeing (BA) CFO said it would fund any Spirit deal with a mix of cash and debt [read more]
- Aquestive Therapeutics (AQST) falls after announcing a 16.667M share offering [read more]
- Signet Jewelers (SIG) declines in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- General Mills (GIS) reported Q4 results and provided guidance for FY24 [read more]
- BioNTech (BNTX) reported Q4 results, with CEO Ugur Sahin commenting, "2023 was another year of good performance" [read more]
- Taysha Gene Therapies (TSHA) announced Q4 results, with EPS beating consensus [read more]
- Sportradar (SRAD) reported Q4 results, with EPS and revenue higher year-over-year [read more]
- H World Group (HTHT) reported Q4 results, provided guidance for Q1, and announced its outlook for FY24 [read more]
INDEXES:
Near midday, the Dow was up 16.25, or 0.04%, to 39,127.01, the Nasdaq was down 5.03, or 0.03%, to 16,161.76, and the S&P 500 was up 0.29, or 0.01%, to 5,178.80.