Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- The U.S. Justice Department and 16 state and district attorneys general filed a civil antitrust lawsuit against Apple (AAPL) for monopolization or attempted monopolization of smartphone markets [read more]
- Micron (MU) reported stronger-than-expected February-end quarter results and provided a better-than-consensus May quarter outlook [read more]
- Analysts raised targets and ratings for Broadcom (AVGO) after the company held an artificial intelligence infrastructure analyst day, with Citi and JPMorgan expressing the belief that the company's unnamed third customer for its accelerator business is TiKTok parent Bytedance [read more]
- Darden (DRI) reported Q3 results, narrowed its FY24 adjusted EPS view and announced a new $1B share repurchase plan [read more]
- Reddit (RDDT) opened at $47, above its initial public offering price of $34 per share [read more]
2. WALL STREET CALLS:
- Argus upgraded Micron (MU) to Buy following last night's earnings report [read more]
- TD Cowen upgraded Broadcom (AVGO) to Outperform following the company's AI meeting [read more]
- Rosenblatt upgraded Paramount (PARA) and Warner Bros. Discovery (WBD), both to Neutral, on the firm's view that the best value for both entertainment conglomerates is to break up [read more]
- Stephens downgraded Centene (CNC) to Equal Weight [read more]
- Roth MKM downgraded JinkoSolar (JKS) to Neutral [read more]
3. AROUND THE WEB:
- An FCC filing hints at an agreement between Globalstar (GSAT) and Walmart (WMT), Light Reading says [read more]
- Alibaba (BABA) raised $357.8M from the sale of shares of Chinese streaming platform Bilibili (BILI), Bloomberg reports [read more]
- James River (JRVR) is in sales talks with Global Indemnity (GBLI), Insurance Insider says [read more]
- Medicare Part D may cover Novo Nordisk's (NVO) weight-loss drug Wegovy, WSJ reports [read more]
- Boeing (BA) board planning to meet airline chiefs without CEO, Bloomberg reports [read more]
4. MOVERS:
- Lufax (LU) higher in New York after reporting quarterly results [read more]
- Astera Labs (ALAB) advances further in second day of public trading [read more]
- Li Auto (LI) declines in New York after cutting its Q1 delivery view [read more]
- Tourmaline Bio (TRML) falls after Chugai announced results from the company's myasthenia gravis study [read more]
- Bilibili (BILI) slides after announcing a share offering [read more]
5. EARNINGS/GUIDANCE:
- Five Below (FIVE) reported Q4 results and provided guidance for Q1 and FY24, with CEO Joel Anderson commenting, "Holiday 2023 marked a strong end to the year for sales performance" [read more]
- Accenture (ACN) reported Q2 results, with EPS beating consensus [read more]
- Guess (GES) reported Q4 results and provided guidance for FY25 [read more]
- Academy Sports (ASO) announced Q4 results, provided guidance for FY24, and increased its quarterly dividend [read more]
- Intuitive Machines (LUNR) reported Q4 results, with revenue beating consensus [read more]
INDEXES:
The Dow rose 269.24, or 0.68%, to 39,781.37, the Nasdaq gained 32.43, or 0.20%, to 16,401.84, and the S&P 500 advanced 16.91, or 0.32%, to 5,241.53.