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:

• Meta (META) must face some claims by state AGs in a social media addiction lawsuit, Bloomberg reports
• Bandai Namco (NCBDY) will reduce its workforce after canceling a number of titles, Bloomberg says
• 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 reports
• The New York Times (NYT) has sent Perplexity a "cease and desist" notice demanding the firm stop accessing and using its content, WSJ 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
• Exelixis (EXEL) rises after a court win in its patent dispute with MSN Laboratories
• 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:

The Dow fell 324.80, or 0.75%, to 42,740.42, the Nasdaq lost 187.17, or 1.01%, to 18,315.52, and the S&P 500 declined 44.59, or 0.76%, to 5,815.26.