On the Fly News and insights, exclusive to thefly.com

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• UnitedHealth (UNH) reported upbeat Q3 results and narrowed its FY24 earnings outlook
• Johnson & Johnson (JNJ) reported better-than-expected Q3 results and cut its FY24 earnings guidance
  
• Citi (C), Bank of America (BAC), and Goldman Sachs (GS) all reported upbeat quarterly earnings and revenue
  
• Boeing (BA) filed a $25B mixed securities shelf
  
• President Biden may cap exports of AI chips from Nvidia (NVDA) and AMD (AMD) to certain countries in the interest of national security, Bloomberg reports
  

2. WALL STREET CALLS:

• Etsy (ETSY) downgraded to Sell at Goldman Sachs
• Barclays upgraded Doximity (DOCS) to Overweight
  
• RBC Capital downgraded Enphase Energy (ENPH) to Sector Perform
  
• Barclays upgrades Revvity (RVTY), says stock "checks most of the boxes"
  
• Citi initiated coverage of Constellation Energy (CEG) with a Neutral rating

3. AROUND THE WEB:

• GSK (GSK) sued Moderna (MRNA) in Delaware federal court on Tuesday for allegedly violating GSK's patent rights in messenger RNA technology with its COVID-19 vaccine Spikevax, Reuters says
• A fire has broken out in Freeport Indonesia's (FCX) Manyar smelter in Fresik, East Java province, Reuters reported
• The New York Times (NYT) has sent Perplexity a "cease and desist" notice demanding the firm stop accessing and using its content, WSJ reports
  
• The U.K. has appointed Microsoft (MSFT) UK CEO Clare Barclay to lead its new Industrial Strategy Advisory Council, FT reports
  
• A new lawsuit alleges Macy's (M) covered up a violent sexual attack by Sean "Diddy" Combs at its flagship Herald Square, Manhattan store in 2008, BI reports
  

4. MOVERS:

• Wolfspeed (WOLF) higher after announcing it has signed a preliminary memorandum of terms with the U.S. Department of Commerce for up to $750M in funding under the CHIPS and Science Act
• MeiraGTx (MGTX) increases after announcing data from its study of AAV-GAD
• Rumble (RUM) gains after announcing Sticker Mule has become a cloud client
• ASML (ASML) falls in New York after reporting Q3 results
• Transocean (RIG) lower in New York after Benchmark downgraded the stock to Hold

5. EARNINGS/GUIDANCE:

• Coty (COTY) reduced its revenue outlook for Q1
• Walgreens Boots Alliance (WBA) reported Q4 results and provided guidance for FY25, along with announcing plans for store closures
• Charles Schwab (SCHW) provided guidance for Q4 and FY24
  
• Progressive (PGR) reported results for Q3 and September
  
• PNC Financial (PNC) reported Q3 results, with the company stating "results for the third quarter demonstrated PNC's continued strong momentum across the franchise"

INDEXES:

Near midday, the Dow was down 166.32, or 0.39%, to 42,898.90, the Nasdaq was down 171.01, or 0.92%, to 18,331.68, and the S&P 500 was down 25.84, or 0.44%, to 5,834.01.