Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Google (GOOG) has postponed the release of its conversational AI tool Gemini, The Information reports [read more]
- Gap (GPS) reported upbeat Q3 results and reiterated its FY23 revenue guidance [read more]
- Ross Stores (ROST) provided a "beat and raise" report for Q3 [read more]
- Applied Materials (AMAT) reported better-than-expected Q4 earnings and revenue [read more]
- Apple (AAPL) has filed a challenge to the European Union's Digital Markets Act, Reuters reports [read more]
2. WALL STREET CALLS:
- Evercore ISI upgraded Expedia (EXPE) to Outperform from In Line [read more]
- Evercore also downgraded Airbnb (ABNB) to In Line from Outperform [read more]
- Morgan Stanley upgraded Analog Devices (ADI) to Overweight from Equal Weight [read more]
- Wolfe Research upgraded Roblox (RBLX) to Peer Perform after the company provided more color on its long-term financial framework and more details on its advertising opportunity at its investor day [read more]
- BofA downgraded Marriott Vacations (VAC) to Underperform [read more]
3. AROUND THE WEB:
- Apple (AAPL) plans to bring RCS support to the iPhone in 2024, 9to5Mac reports [read more]
- South Korean prosecutors are seeking a five-year jail term for Samsung (SSNLF) chair Lee Jae-yonh, FT reports [read more]
- Amazon (AMZN) will eliminate "several hundred" jobs in its Alexa division, GeekWire reports [read more]
- Barclays (BCS) is exploring a potential purchase of Tesco's (TSCDY) banking business, Reuters reports [read more]
- Northrop Grumman (NOC) has withdrawn from a competition to build a new generation of satellites for U.K.'s armed forces, FT reports [read more]
4. MOVERS:
- Twist Bioscience (TWST) higher after reporting Q4 results and providing guidance for Q1 and FY24 [read more]
- Brookdale (BKD) increases after RBC upgraded the stock to Outperform [read more]
- Tenet Healthcare (THC) rises after announcing Novant Health will acquire three hospitals from the company for $2.4B [read more]
- ZTO Express (ZTO) falls in New York after reporting quarterly results [read more]
- Fisker (FSR) lower after announcing a new distribution strategy [read more]
5. EARNINGS/GUIDANCE:
- ChargePoint (CHPT) cut its Q3 revenue view and named Rick Wilmer as CEO [read more]
- BJ's Wholesale (BJ) reported Q3 results and backed its FY23 guidance [read more]
- Spectrum Brands (SPB) reported Q4 results and provided guidance for FY24 [read more]
- Destination XL (DXLG) reported Q3 results, with CEO Harvey Kanter commenting "Despite this challenging quarter, we remain disciplined and committed to the strategy and initiatives of which we have spoken previously" [read more]
- Compass Minerals (CMP) reported Q4 results, with CEO Kevin Crutchfield commenting "Compass Minerals realized a number of positive strategic accomplishments in fiscal 2023" [read more]
INDEXES:
Near midday, the Dow was down 5.54, or 0.02%, to 34,939.93, the Nasdaq was down 8.05, or 0.06%, to 14,105.62, and the S&P 500 was up 1.04, or 0.02%, to 4,509.28.
