Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- United Kingdom's CMA objects to Google's (GOOGL) ad tech practices
- Salesforce (CRM) to acquire data security vendor Own Company for $1.9B in cash
- Broadcom (AVGO) reported Q3 results that were "solid, without any material soft points," but its AI business lacked the clear upside momentum the Street was looking for, according to Benchmark
- Smartsheet (SMAR) reported what Barclays called "a likely softer quarter than investors were expecting" hours after Reuters said a private equity consortium is in talks to acquire the workplace collaboration software maker
- Cleveland-Cliffs (CLF) CEO Lourenco Goncalves said the company is open to buying any assets U.S. Steel (X) shuts down
2. WALL STREET CALLS:
- RadNet (RDNT) upgraded at Barclays on greater conviction in artificial intelligence use cases for radiology
- Piper upgraded Intra-Cellular (ITCI) on potential in major depressive disorder
- Bloom Energy (BE) downgraded to Hold from Buy at Jefferies
- MicroStrategy (MSTR) initiated with bullish view at Barclays, here's why
- Barclays upgraded Coinbase (COIN) and Robinhood (HOOD) to Equal Weight on the view that both of their business models have matured over the past year
3. AROUND THE WEB:
- TSMC (TSM) achieved production yields at its Arizona facility on par with established plants in Taiwan and plans to commence mass production in Arizona in 2025, Bloomberg says
- Morgan Stanley (MS) agreed to pay $2M to settle an investigation by the Massachusetts Securities Division that determined the bank failed to properly monitor the stock sales of First Republic's then-Executive Chairman James Herbet, WSJ reports
- Qualcomm (QCOM) has examined the possibility of buying parts of Intel's (INTC) design business to bolster the company's product portfolio, Reuters says
- Intel (INTC) is weighing options for its stake in its struggling automated driving systems provider Mobileye Global (MBLY), Bloomberg says
- Shari Redstone is set to receive more than $500M in severance, stock, and benefits from the sale of Paramount (PARA) to the Ellison family, FT reports
4. MOVERS:
5. EARNINGS/GUIDANCE:
INDEXES:
Near midday, the Dow was down 356.00, or 0.87%, to 40,399.75, the Nasdaq was down 413.32, or 2.41%, to 16,714.34, and the S&P 500 was down 85.84, or 1.56%, to 5,417.57.
