Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Microsoft (MSFT) reported better than expected Q2 results, reassured investors with outlook for faster Azure revenue growth next quarter [more]
- AT&T (T) also reported better than expected top and bottom-line results [more]
- Boeing (BA), meanwhile, reported Q4 losses due in large part to a $3.5B pre-tax non-cash charge on the 787 program [more]
- Abbott (ABT) reported upbeat quarterly results and provided guidance for Q1 and FY22 [more]
- F5 Networks (FFIV) cut its FY22 revenue growth outlook [more]
2. WALL STREET CALLS:
- Moderna (MRNA) upgraded to Hold from Sell at Deutsche Bank [more]
- Verizon (VZ) downgraded to Neutral from Overweight at JPMorgan [more]
- DraftKings (DKNG) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
- Nielsen (NLSN) downgraded to Sell from Neutral at Goldman Sachs [more]
- Clorox (CLX) downgraded to Underperform from Neutral at Credit Suisse [more]
3. AROUND THE WEB:
- Mattel (MAT) won a Disney (DIS) toy deal license back from Hasbro (HAS), WSJ reports [more]
- Micron (MU) will close its Shanghai DRAM design operations, SCMP reports [more]
- Meta-backed (MVRS) Diem is mulling the sale of assets, Bloomberg reports [more]
- An EU court has overturned a $1.2B antitrust fine against Intel (INTC), CNBC says [more]
- Amazon (AMZN) abandoned its social media influence campaign, FT reports [more]
4. MOVERS:
- Clean Energy (CLNE) gains after announcing its 2022 revenue guidance and after announcing it signed an agreement to build a methane capture digester in Idaho [more]
- Stride (LRN) higher after announcing quarterly results [more]
- Gatos Silver (GATO) drops after announcing its Los Gatos report overestimated mineral resource and reserve estimate by 30%-50% which could result in credit default [more]
- Gilead (GILD) declines after the FDA placed a partial clinical hold for studies on the combination of magrolimab plus azacitidine [more]
- Equitrans Midstream (ETRN) falls after US Capital Advisors analyst Becca Followill downgraded the stock to Underweight from Buy with a price target of $6, down from $13 [more]
5. EARNINGS/GUIDANCE:
- General Dynamics (GD) reported mixed Q4 results [more]
- Texas Instruments (TXN) reported upbeat Q4 results [more]
- Kimberly-Clark (KMB) reported better than expected Q4 earnings and revenue [more]
- Corning (GLW) provided upbeat Q1 earnings and revenue guidance [more]
- Knight-Swift (KN) reported upbeat Q4 earnings and revenue [more]
INDEXES:
Near midday, the Dow was up 324.53, or 0.95%, to 34,622.26, the Nasdaq was up 300.76, or 2.22%, to 13,840.05, and the S&P 500 was up 65.95, or 1.51%, to 4,422.40.