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:

• Qualcomm (QCOM) reported better-than-expected Q4 results and approved a new $15B stock repurchase authorization
• Lyft (LYFT) reported upbeat Q3 revenue and reiterated its FY24 rides growth guidance
• Moderna (MRNA) reported better-than-expected Q3 results and reiterated its FY24 net product sales guidance
• US Foods (USFD) reported mixed Q3 results and narrowed its FY24 earnings and revenue outlook
• Ralph Lauren (RL) provided a "beat and raise" report for Q2

2. WALL STREET CALLS:

• JPMorgan (JPM) downgraded to Underperform at Baird
• Palantir (PLTR) was downgraded to Hold at Argus on valuation and downgraded at Jefferies as well
• Ford (F) was downgraded at Bernstein, here's why
• Sarepta (SRPT) upgraded to Overweight at Cantor Fitzgerald
• KeyBanc downgraded Five Below (FIVE) and Dollar Tree (DLTR) to Sector Weight following Donald Trump's election win

3. AROUND THE WEB:

• Duolingo (DUOL) began its latest conference call with Lily, an AI-driven chatbot, Business Insider says
• Canoo (GOEV) is facing a lawsuit from a supplier for breach of contract related to unpaid work on six electric delivery vans ordered by the U.S. Postal Service, EV reports
• Nissan Motor (NSANY) is going to embark on a turnaround plan that includes cutting 9,000 jobs and reducing global production capacity by a fifth, WSJ says
• Norfolk Southern (NSC) has set off renewed concerns about flaws being missed amid railcar inspections when it notified staff they should spend no more than a minute with each car, AP reports
• AMC Entertainment (AMC) revealed its "GO Plan," which is a set of major upgrades to seating, projection, and auditoriums over the next few years, Deadline says

4. MOVERS:

• Freshworks (FRSH) increases after reporting Q3 results and authorizing a stock repurchase program of up to $400M
• AppLovin (APP) and Wolverine World Wide (WWW) gain after reporting quarterly results
• Dutch Bros. (BROS) and Emergent BioSolutions (EBS) higher after reporting quarterly results and providing guidance for FY24, respectively
• CommScope (COMM) lower after reported Q3 results, with EPS and revenue missing consensus
• Wolfspeed (WOLF) and Clear Secure (YOU) fall after reporting quarterly results

5. EARNINGS/GUIDANCE:

• Take-Two (TTWO) reported Q2 results and provided guidance for Q3 and FY25
• Elf Beauty (ELF) reported Q2 results and raised its guidance for FY25
• SolarEdge (SEDG) announced Q3 results, with EPS and revenue missing consensus
• Warner Bros. Discovery (WBD) reported Q3 results, with the company stating it is making "strong progress" executing its strategy
• Under Armour (UAA) reported Q2 results, with CEO Kevin Plank commenting that the "performance demonstrates our strategy to reconstitute the Under Armour brand and establish a more premium position in the marketplace is gaining traction"

INDEXES:

Near midday, the Dow was down 6.80, or 0.02%, to 43,723.13, the Nasdaq was up 270.46, or 1.42%, to 19,253.92, and the S&P 500 was up 40.55, or 0.68%, to 5,969.59.