Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Nike's (NKE) fiscal Q3 results topped estimates, but preliminary FY25 commentary calls for first half revenue to be down low-single digits, sending shares lower [read more]
- FedEx (FDX) posted Q3 adjusted EPS above Street estimates and authorized a new $5B share repurchase program [read more]
- Apple (AAPL) has held preliminary talks with Baidu (BIDU) about using the Chinese company's generative artificial-intelligence technology in its devices in China, WSJ reports [read more]
- Tesla (TSLA) has reduced production at its plant in China amid sluggish sales growth, Bloomberg says [read more]
- Lululemon (LULU) reported Q4 results that topped the company's pre-announcement, though shares are under pressure in response to a below-consensus Q1 outlook [read more]
2. WALL STREET CALLS:
- RBC Capital downgraded Nike (NKE) to Sector Perform, noting that Nike's unexpected first glance guidance for the first half of 2025 implies no revenue growth for calendar 2024 [read more]
- JPMorgan upgraded Best Buy (BBY) to Overweight [read more]
- Citi upgraded Foot Locker (FL) to Neutral [read more]
- TD Cowen upgraded Charles Schwab (SCHW) to Outperform [read more]
- Janney Montgomery Scott downgraded SolarEdge (SEDG) to Neutral [read more]
3. AROUND THE WEB:
- Stellantis (STLA) is recalling nearly 318,000 Dodge and Chrysler sedans worldwide, AP says [read more]
- Airbus (EADSY) CEO tells CNBC the company is "not happy" about the issues at Boeing (BA) [read more]
- Temu and Shien have displaced Walmart (WMT) and Target (TGT) as focal point in internal Amazon (AMZN) meetings, WSJ says [read more]
- Alibaba (BABA) has raised $357.8M by selling securities in Chinese streaming platform Bilibili (BILI), Bloomberg says [read more]
- Rush Street Interactive (RSI) is exploring strategic options, including a potential sale, Bloomberg says [read more]
4. MOVERS:
- Canopy Growth (CGC) and Tilray (TLRY) higher in New York after Germany passed a partial cannabis legalization law [read more]
- Stevanato (STVN) gains after announcing a share offering [read more]
- Nkarta (NKTX) decreases in New York after reporting Q4 results [read more]
- Grifols (GRFS) falls in New York after providing conclusions from the final report from the CNMV [read more]
- Stem (STEM) declines after Goldman Sachs downgraded the stock to Neutral [read more]
5. EARNINGS/GUIDANCE:
- Humacyte (HUMA) reported Q4 results, with EPS in line with consensus [read more]
- Hookpia Pharma (HOOK) reported Q4 results [read more]
- Hyzon Motors (HYZN) announced Q4 results, with CEO Parker Meeks commenting, "2023 was an inflection point for Hyzon from a commercial and operational standpoint" [read more]
- ProKidney (PROK) reported FY23 results, with EPS beating consensus [read more]
- Amprius Technologies (AMPX) reports Q4 results, with EPS and revenue beating consensus [read more]
INDEXES:
Near midday, the Dow was down 207.28, or 0.52%, to 39,574.09, the Nasdaq was up 10.65, or 0.065%, to 16,412.48, and the S&P 500 was down 7.05, or 0.13%, to 5,234.48.