Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Intel (INTC) said the U.S. Department of Commerce is revoking certain licenses for exports of consumer-related items to a customer in China and as a result the company now expects revenue for the second quarter below the midpoint of its original range of $12.5B-$13.5B [read more]
- A number of analysts hiked their price targets on Reddit (RDDT) after the company posted "a high-quality inaugural public quarter beat and raise" [read more]
- Uber (UBER) reported Q1 results that CEO Dara Khosrowshahi said "once again demonstrate our ability to deliver consistent, profitable growth at scale." [read more]
- Ridesharing peer Lyft (LYFT) reported what several analysts described as "strong" Q1 results [read more]
- While Rivian (RIVN) reaffirmed its annual 2024 production guidance along with its Q1 report, Cantor expects Q2 to be the weakest quarter in the year in terms of both vehicle production and deliveries [read more]
2. WALL STREET CALLS:
3. AROUND THE WEB:
- Bain Capital is in discussions to take PowerSchool (PWSC) private at a $6B valuation, WSJ reports [read more]
- Spruce Point Management published a short report on Boot Barn (BOOT) [read more]
- The Department of Justice is examining whether Tesla (TSLA) committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities, Reuters says [read more]
- The U.S. Commerce Department has revoked one of Qualcomm's (QCOM) export licenses for Huawei, Reuters reports [read more]
- Warner Bros. Discovery (WBD) plans more cost cuts, Max price hike, Bloomberg says [read more]
4. MOVERS:
- Cricut (CRCT) gains after reporting Q1 results and announcing a $50M stock repurchase plan [read more]
- MaxCyte (MXCT) and Globus Medical (GMED) gain in New York after reporting quarterly results [read more]
- Elanco (ELAN) up after reporting quarterly results and raising its FY24 guidance [read more]
- DoubleVerify (DV) falls after reporting quarterly results and lowering its FY24 guidance [read more]
- Inspire Medical (INSP) and Definitive Healthcare (DH) fall after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Shopify (SHOP) reported Q1 results and provided guidance for Q2, with President Harley Finkelstein commenting, "You're seeing the strongest version of Shopify in our history" [read more]
- Electronic Arts (EA) reported Q4 results and provided guidance for both Q1 and FY25, with CEO Andrew Wilson commenting [read more]
- Arista Networks (ANET) announced Q2 results, with EPS and revenue beating consensus [read more]
- Wynn Resorts (WYNN) reported Q1 results, with CEO Craig Billings commenting, "The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter" [read more]
- Affirm (AFRM) reported Q3 results and provided guidance for Q4 [read more]
INDEXES:
The Dow rose 172.13, or 0.44%, to 39,056.39, the Nasdaq lost 29.80, or 0.18%, to 16,302.76, and the S&P 500 declined 0.03, or 0.00058%, to 5,187.67.
