Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- The U.K.'s CMA said that the sale of Activision's (ATVI) cloud gaming rights to Ubisoft (UBSFY) address previous concerns of the Microsoft (MSFT) takeover and opens the door to the deal being cleared [read more]
- The UAW expanded its "Stand Up Strike" against General Motors (GM) and Stellantis (STLA) while sparing Ford (F) given "substantial progress in bargaining" [read more]
- Amazon (AMZN) said that Prime Video shows and movies will include limited ads as of early 2024 [read more]
- BorgWarner (BWA) said the initial impact of UAW strikes on its sales are "modest" [read more]
- MasterCard (MA) wrote to members of U.S. Congress to highlight the potential "harms" to consumers the Credit Card Competition Act would bring [read more]
2. WALL STREET CALLS:
- Citi opens "positive catalyst watch" on Meta (META) into Connect event [read more]
- Deere (DE) gets second downgrade of week as Canaccord cuts on slowing large ag growth [read more]
- Wayfair (W) upgraded to Market Perform from Underperform at Bernstein [read more]
- Ralph Lauren (RL) initiated with an Outperform at Raymond James [read more]
- Wells Fargo upgraded Charter Communications (CHTR) to Overweight [read more]
3. AROUND THE WEB:
- Reports that Disney (DIS) is in talks to sell ABC are "greatly exaggerated," NY Post says [read more]
- Snap (SNAP) has gained more than 5M subscribers for its subscription product Snapchat+, Bloomberg reports [read more]
- MGM Resorts' (MGM) computers are back up following a 10-day computer shutdown prompted by efforts to shield the company from a cybersecurity attack, AP News says [read more]
- McDonald's (MCD) will raise fees on franchisees who add new U.S. restaurants to 5% from 4% starting January 1, CNBC says [read more]
- Canada's Stelco Holdings (STZHF) is in talks with a potential partner to purchase U.S. Steel (X), Bloomberg reports [read more]
4. MOVERS:
- MicroAlgo (MLGO) soars in New York after announcing it has developed a knowledge-enhanced backtracking search algorithm [read more]
- Coeur Mining (CDE) gains after RBC Capital upgraded the stock to Outperform [read more]
- Mondee (MOND) increases after announcing an inaugural $30M share repurchase program [read more]
- Target (TGT) slips after HSBC initiated coverage of the stock with a Hold rating [read more]
- VinFast Auto (VFS) falls in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- NetSol Technologies (NTWK) reported Q4 results [read more]
- ParaZero (PRZO) announced results for the first half of the year [read more]
- Scholastic (SCHL) reported Q1 results and reaffirmed its FY24 guidance, with CEO Peter Warwick commenting "Scholastic made solid progress this summer" [read more]
- Oracle (ORCL) reaffirmed prior guidance of $65B in sales by FY26 [read more]
- Flux Power (FLUX) reported Q4 adjusted EBITDA and revenue that were higher year-over-year [read more]
INDEXES:
Near midday, the Dow was up 30.61, or 0.09%, to 34,101.03, the Nasdaq was up 90.63, or 0.69%, to 13,314.61, and the S&P 500 was up 17.91, or 0.41%, to 4,347.91.
