Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Arm (ARM) opened for trading on the Nasdaq at $56.10 after the chip designer's IPO was priced at $51 per share [read more]
- Starbucks (SBUX) founder Howard Schultz has stepped down from the company's board of directors [read more]
- HP Inc. (HPQ) disclosed that holder Berkshire Hathaway (BRK.A) has sold roughly 5.5M shares of its common stock [read more]
- Delta Air Lines (DAL) reaffirmed its FY23 earnings guidance but lowered its Q3 earnings per share view [read more]
- The European Central Bank raised three key interest rates by 25 basis points [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- The White House is imposing price limits on a future monoclonal antibody drug to prevent Covid-19 under a contract with Regeneron (REGN), STATNews says [read more]
- Sweetgreen (SG) faces a racial discrimination lawsuit in New York, CNBC reports [read more]
- TSMC (TSM) is taking an increasingly optimistic view of Japan as a production base as problems persist at its Arizona factory, Reuters says [read more]
- The EU may formally complain over Microsoft's (MSFT) bundling of Teams, Bloomberg says [read more]
- The United Auto Workers union remains far apart in negotiations for a new labor agreement with Detroit automakers, including General Motors (GM), Ford (F), and Stellantis (STLA), WSJ reports [read more]
4. MOVERS:
- Canopy Growth (CGC) higher in New York after announcing it has ceased funding BioSteel Sports Nutrition [read more]
- Taseko Mines (TGB) gains after receiving its final permit for Florence Copper Project [read more]
- International Game (IGT) increases after Bloomberg reported Apollo (APO) is among the suitors aiming to buy the company's global gaming business [read more]
- PureCycle Technologies (PCT) falls after announcing it is declaring force majeure due to the storm impact on Ironton [read more]
- Ivanhoe Electric (IE) lower after a 11.852M share Spot Secondary [read more]
5. EARNINGS/GUIDANCE:
- Semtech (SMTC) reported Q2 results and the company warned about the potential violation of financial covenants [read more]
- Joint Corp (JYNT) reported Q2 results and lowered its FY23 guidance [read more]
- Streamline Health (STRM) reported Q2 results, with CEO Tee Green commenting "the Streamline Health team has made significant progress as an organization in fiscal 2023 [read more]
- DoubleVerify (DV) narrowed its Q3 results and raised its FY23 revenue view [read more]
- Ibex (IBEX) reported Q4 results and providing guidance for Q1, with RBC Capital commenting this was a "mixed" quarter [read more]
INDEXES:
Near midday, the Dow was up 277.15, or 0.80%, to 34,852.68, the Nasdaq was up 102.97, or 0.75%, to 13,916.55, and the S&P 500 was up 32.50, or 0.73%, to 4,499.94.
