Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Boeing (BA) CEO Dave Calhoun will step down from his position at the end of 2024, while the company's Commercial Airplanes CEO Stan Deal will retire and board chair won't seek re-election [read more]
- Alphabet (GOOG), Apple (AAPL), and Meta (META) will be probed by the EU under the DMA [read more]
- A coalition of tech giants, including Intel (INTC) and Qualcomm (QCOM), are seeking to break Nvidia's (NVDA) "grip on AI," Reuters reports [read more]
- Ericsson (ERIC) announced a headcount reduction of roughly 1,200 in Sweden [read more]
- Citi (C) said the final phase of its organizational simplification has concluded [read more]
2. WALL STREET CALLS:
- Barclays upgrades Disney (DIS) to Overweight after "narrative reset" [read more]
- Evercore ISI upgraded Foot Locker (FL) to Outperform [read more]
- Mizuho is moving to the sidelines on three electric vehicle names on demand concerns [read more]
- JPMorgan started coverage of Supermicro (SMCI) at Overweight while Northland raised its price target on the shares to $1,300 from $925 [read more]
- Northland initiated coverage of Astera Labs (ALAB) with an Outperform rating and $85 price target after the AI and cloud infrastructure connectivity solutions company came public last week [read more]
3. AROUND THE WEB:
- MNC Capital has raised its offer for Vista Outdoor (VSTO) to $3B, NY Times says [read more]
- Qualcomm (QCOM) has ended its bid to buy Autotalks, Reuters reports [read more]
- China to phase out use of Intel (INTC) and AMD (AMD) chips in government computers, FT says [read more]
- The FAA is boosting oversight of United (UAL), according to Reuters [read more]
- Masimo (MASI) CEO told the Wall Street Journal that the company may look at a joint venture for consumer split [read more]
4. MOVERS:
- Target Hospitality (TH) gains after receiving a buyout offer from TDR Capital [read more]
- Nkarta (NKTX) increases after announcing a 21M share offering [read more]
- Lucid Group (LCID) higher after announcing an investment of $1B by an affiliate of PIF [read more]
- Inivyd (IVVD) lower after the FDA authorized emergency use of Pemgarda for COVID PrEP [read more]
- Astria (ATXS) declines after announcing initial proof-of-concept results from its ALPHA-STAR Phase 1b/2 trial of STAR-0215 [read more]
5. EARNINGS/GUIDANCE:
- Aehr Test Systems (AEHR) provided guidance for Q3 and FY24 [read more]
- Sagimet Biosciences (SGMT) reported FY23 results, with CEO David Happel commenting, "2023 was an outstanding year for Sagiment" [read more]
- Hepsiburada (HEPS) reported Q4 results and provided guidance for Q1 [read more]
- Syra Health (SYRA) reported FY23 results, with EPS higher year-over-year [read more]
- Bitcoin Depot (BTM) reported Q4 results, with revenue missing consensus [read more]
INDEXES:
The Dow fell 162.26, or 0.41%, to 39,313.64, the Nasdaq lost 44.35, or 0.27%, to 16,384.47, and the S&P 500 declined 15.99, or 0.31%, to 5,218.19.