Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Goldman Sachs (GS) reported better-than-expected Q1 earnings and revenue [read more]
- Salesforce (CRM) is in advanced talks to acquire Informatica (INFA), according to The Wall Street Journal [read more]
- Tesla (TSLA) is laying off more than 10% of its global workforce, Electrek reports [read more]
- The IDC said that Apple's (AAPL) iPhone shipments declined a worse-than-projected 9.6% in the first three months of the year, according to Bloomberg [read more]
- Disney (DIS) is planning a new streaming concept with new "channels" that function more like old-style TV to keep viewers, The Information says [read more]
2. WALL STREET CALLS:
- Piper Sandler initiated coverage of Reddit (RDDT) with an Overweight rating, while JMP Securities, Roth MKM, Needham, and Citi also started the name with Buy-equivalent ratings [read more]
- Deutsche Bank initiated coverage of Astera Labs (ALAB) with a Buy rating, while Barclays, JPMorgan, Roth MKM, Stifel, Needham, Jefferies, and Craig-Hallum also started coverage of the name with Buy-equivalent ratings [read more]
- Cisco (CSCO) upgraded to Buy at BofA [read more]
- ServiceNow (NOW) downgraded to Neutral from Buy at Guggenheim [read more]
- Lockheed Martin (LMT) upgraded to Overweight from Neutral at JPMorgan [read more]
3. AROUND THE WEB:
- Spirit AeroSystems (SPR) is limiting overtime and hiring for particular roles, Reuters reports [read more]
- Netflix (NFLX) new film studio chief says he will have the company focus on improving the quality of its movies, NY Times reports [read more]
- Lockheed Martin (LMT) is being awarded a $17B U.S. missile defense contract, Reuters reports [read more]
- Wabtec (WAB) and Siemens (SIEGY) are among final bidders for Alstom's (ALSMY) signaling unit, Bloomberg reports [read more]
- Japan is planning an antitrust action against Google (GOOG) over search ads, Nikkei reports [read more]
4. MOVERS:
- Piedmont (PLL) higher after receiving approvals for its proposed Carolina Lithium project [read more]
- Mobile-health Network Solutions (MNDR) gains in New York after announcing its initial public offering on the Nasdaq stock exchange [read more]
- BRF S.A. (BRFS) increases in New York after JPMorgan upgraded the stock to Overweight [read more]
- Trump Media (DJT) falls after after the company filed to register up to 146.1M shares for potential sale by selling shareholders, including 114.8M shares held by Donald Trump [read more]
- Canopy Growth (CGC) declines in New York after announcing shareholder approved of its new class of exchangeable shares [read more]
5. EARNINGS/GUIDANCE:
INDEXES:
The Dow fell 248.13, or 0.65%, to 37,735.11, the Nasdaq lost 290.07, or 1.79%, to 15,885.02, and the S&P 500 declined 61.59, or 1.20%, to 5,061.82.