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]
- Topgolf Callaway (MODG) responded to a recent media report originating in Korea, stating that the company is "not aware of any" discussions of a potential sale of the company or its golf equipment business [read more]
- The Federal Reserve kept the federal funds rate unchanged at 5.25%-5.50%, as expected [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
4. MOVERS:
- Mobileye (MBLY) rose after Volkswagen (VWAGY) said it is "intensifying its partnership" with the company in automated driving [read more]
- Alight (ALIT) gained 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 AeroSystems (SPR) advanced after Boeing (BA) CFO said it would fund any Spirit deal with a mix of cash and debt [read more]
- Aquestive Therapeutics (AQST) fell after announcing a 16.667M share offering [read more]
- Signet Jewelers (SIG) declined after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- 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]
- 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]
INDEXES:
The Dow rose 401.37, or 1.03%, to 39,512.13, the Nasdaq gained 202.62, or 1.25%, to 16,369.41, and the S&P 500 advanced 46.11, or 0.89%, to 5,224.62.