Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Cisco (CSCO) reported better-than-expected Q4 results and confirmed a restructuring plan that would result in a 7% headcount reduction [read more]
- Walmart (WMT) provided a "beat and raise" report for Q3 [read more]
- JD.com (JD) reported upbeat Q2 adjusted earnings but lower-than-expected quarterly revenue [read more]
- Alibaba (BABA) reported mixed Q1 results, with Cloud Intelligence group revenue up 6% year-over-year [read more]
- Deere (DE) reported upbeat Q3 results [read more]
2. WALL STREET CALLS:
- Deutsche Bank upgraded Robinhood (HOOD) to Buy, calling the company's growth potential "exceptionally attractive" [read more]
- Goldman Sachs upgraded Progressive (PGR) to Buy from Neutral [read more]
- Wells Fargo downgraded Snowflake (SNOW) to Equal Weight from Overweight [read more]
- Argus downgraded Las Vegas Sands (LVS) to Hold from Buy [read more]
- Valvoline (VVV) was initiated with an Outperform rating and $48 price target at Baird [read more]
3. AROUND THE WEB:
- Edgar Bronfman is preparing a bid for Paramount (PARA) parent National Amusements, WSJ reports [read more]
- California Governor Gavin Newsom wants refiners to stockpile gasoline, Bloomberg reports [read more]
- Tencent (TCEHY) acknowledged it is in discussions with Apple (AAPL) on sharing the revenue from its WeChat mini games, Bloomberg reports [read more]
- Softbank (SFTBY) held talks with Intel (INTC) about making an AI chip that would compete with Nvidia (NVDA) but the plan fell apart after the U.S. chipmaker struggled to meet the Japanese group's requirements, FT reports [read more]
- Apple (AAPL) supplier Foxconn (HNHPF) is planning to build a new, 700-acre campus in Zhengzhou, China, to make electric cars, NY Times reports [read more]
4. MOVERS:
- AST SpaceMobile (ASTS) and Lumentum (LITE) higher in New York after reporting quarterly results [read more]
- EQT Corporation (EQT) rises after Piper Sandler downgraded the stock to Neutral [read more]
- Arcutis Biotherapeutics (ARQT) and Grab Holdings (GRAB) in New York decline after reporting quarterly results [read more]
- Siga Technologies (SIGA) falls after announcing its PALM 007 trial did not meet its primary endpoint [read more]
- Bitdeer (BTDR) lower in New York after announcing a $150M offering of convertible notes [read more]
5. EARNINGS/GUIDANCE:
- Dillard's (DDS) reported Q2 results, with EPS and revenue missing consensus [read more]
- Kore Group (KORE) reported Q2 results and cut its revenue view for FY24 [read more]
- Nice (NICE) reported Q2 results and raised its guidance for FY24 [read more]
- Consolidated Water (CWCO) reported Q2 results, with EPS beating consensus [read more]
- Celcuity (CELC) reported Q2 results, with CEO Brian Sullivan commenting, "We made significant strides advancing the clinical development of gedatolisib this quarter" [read more]
INDEXES:
The Dow rose 554.67, or 1.39%, to 40,563.06, the Nasdaq gained 401.89, or 2.34%, to 17,594.50, and the S&P 500 advanced 88.01, or 1.61%, to 5,543.22.