Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- United Airlines (UAL) reported upbeat Q1 earnings and revenue and reiterated its FY24 earnings guidance [read more]
- Abbott (ABT) reported better-than-expected Q1 results and revised its FY24 outlook [read more]
- The New York Times reported that Tesla (TSLA) will again ask shareholders to vote on CEO Elon Musk's pay package, with the company also saying it has asked shareholders to move the state of incorporation to Texas [read more]
- Take-Two (TTWO) announced a cost reduction plan and will reduce its workforce by 5% [read more]
- Economic activity expanded slightly since the last Beige Book report, according to the Federal Reserve [read more]
2. WALL STREET CALLS:
- Northcoast cut Boeing (BA) to Sell in anticipation of structural issues [read more]
- TD Cowen upgraded "structural growth story" e.l.f. Beauty (ELF) to Buy [read more]
- Urban Outfitters (URBN) downgraded to Underperform from Hold at Jefferies [read more]
- Maxim initiated coverage of Amazon (AMZN) with a Buy rating and $218 price target [read more]
- Maxim also initiated coverage of Apple (AAPL) with a Hold rating and $178 price target [read more]
3. AROUND THE WEB:
- The FTC is preparing to sue to block Tapestry's (TPR) $8.5B takeover of Capri (CPRI), NY Times reports [read more]
- Zuora (ZUO) is exploring a sale after receiving acquisition interest, Reuters reports [read more]
- Volkswagen (VWAGY) workers at its Chattanooga, Tennessee plant will be voting on whether to join United Automobile Workers, NY Times reports [read more]
- U.S. lawmakers have sent a letter raising concerns about the sports-streaming joint venture proposed by Disney (DIS), Fox (FOXA), and Warner Bros. Discovery (WBD), Variety says [read more]
- Envestnet (ENV) is exploring options that could include a potential sale after receiving takeover interest, Reuters reports [read more]
4. MOVERS:
- Vanda Pharmaceuticals (VNDA) higher after rejecting several unsolicited proposals from Future Pak [read more]
- XPeng (XPEV) rises after entering into a framework agreement with Volkswagen (VWAGY) on E/E Architecture [read more]
- Autodesk (ADSK) lower after providing an update on its internal investigation [read more]
- Sage (SAGE) falls after announcing Phase 2 study of dalzanemdor did not meet its primary endpoint [read more]
- ASML (ASML) declines in New York after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Travelers (TRV) reported Q1 results, with CEO Alan Schnitzer commenting, ""We are very pleased to report excellent top- and bottom-line results for the first quarter" [read more]
- J.B. Hunt (JBHT) reported Q1 results, with EPS missing consensus [read more]
- U.S. Bancorp (USB) reported Q1 results and cut its FY24 guidance [read more]
- Knight-Swift (KNX) cut its Q1 and Q2 guidance [read more]
- 1847 Holdings (EFSH) reported Q4 results, with revenue higher year-over-year [read more]
INDEXES:
The Dow fell 45.66, or 0.12%, to 37,753.31, the Nasdaq lost 181.88, or 1.15%, to 15,683.37, and the S&P 500 declined 29.20, or 0.58%, to 5,022.21.