Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- The Centers for Medicare & Medicaid Services finalized a payment update for 2025 Medicare Advantage and sees payments up 3.7% [read more]
- Tesla (TSLA) delivered 387,000 vehicles in Q1, while General Motors (GM) reported a 1.5% year-over-year decline and Honda (HMC) reported an 11.8% year-over-year increase [read more]
- Honeywell (HON) is considering the sale of its PPE equipment business, Bloomberg says [read more]
- The Wall Street Journal reported that Disney (DIS) had pulled ahead in its proxy fight with Nelson Peltz's Trian Partners with support from BlackRock (BLK), while Reuters said that Norges Bank Investment Bank has backed Disney's board [read more]
- HSBC (HSBC) is exploring the sale of its German business units, according to Bloomberg [read more]
2. WALL STREET CALLS:
- Estee Lauder (EL) was upgraded at Citi to Buy from Neutral [read more]
- Argus upgraded McCormick (MKC) to Buy from Hold, saying the company can reverse weak volumes in certain regions [read more]
- BofA double downgraded Petco (WOOF) to Underperform, saying the company "has lost much of its competitive bite" [read more]
- Nio (NIO) was downgraded to Underweight from Equal Weight at Barclays [read more]
- Barclays initiated coverage of Zebra Technologies (ZBRA) with an Equal Weight rating [read more]
3. MOVERS:
- Microsoft (MSFT) is testing a new AI-powered Xbox chatbot, The Verge says [read more]
- Amazon (AMZN) is looking to open a new batch of grocery stores after an 18-month pause and ditch its Just Walk Out grab-and-go checkout system, Information reports [read more]
- Banking regulators are scrutinizing whether BlackRock (BLK), Vanguard, and State Street (STT) are taking passive roles when it comes to their investments in U.S. banks, WSJ reports [read more]
- Warner Bros. Discovery (WBD) board members Steven Newhouse and Steven Miron have stepped down amid an investigation into whether their presence on the board violated antitrust law, NY Times reports [read more]
- Teck (TECK) and Korea Zinc reached a mutual agreement on processing charges, Reuters reports [read more]
4. MOVERS:
- ChampionX (CHX) higher after entering a definitive agreement to be purchased by SLB (SLB) [read more]
- Roivant (ROIV) gains in New York after announcing results from the NEPTUNE study and approving a repurchase program of up to $1.5B [read more]
- Humana (HUM) decreases after BofA downgraded the stock to Neutral [read more]
- Verv Therapeutics (VERV) falls after pausing enrollment in the Heart-1 trial of VERVE-101 [read more]
- Cipher Mining (CIFR) declines after providing a production update for March [read more]
5. EARNINGS/GUIDANCE:
INDEXES:
The Dow fell 396.61, or 1.00%, to 39,170.24, the Nasdaq lost 156.38, or 0.95%, to 16,240.45, and the S&P 500 declined 37.96, or 0.72%, to 5,205.81.