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4/6/2022 16:04pm
What You Missed On Wall Street On Wednesday

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

  • Spirit Airlines (SAVE) confirmed that it received an unsolicited, $33 per share buyout proposal from JetBlue (JBLU) [more]
  • Rivian Automotive (RIVN) reported Q1 production of 2,553 vehicles [more]
  • Tufin (TUFN) agreed to be acquired by Turn/River Capital for $13 per share in cash [more]
  • Uber (UBER) will add trains and flights to its U.K. app this year, FT reports [more]
  • Minutes from the last Federal Reserve meeting show that many Fed members preferred a 50 point increase in rates [more]

2. WALL STREET CALLS:

  • Raymond James downgrades JetBlue (JBLU) following "indecent proposal" [more]
  • Spirit Airlines (SAVE) downgraded to In Line at Evercore after JetBlue's "plan B" bid [more]
  • Cano Health (CANO) downgraded to Underweight from Neutral at Piper Sandler [more]
  • Bank of America analyst John Murphy double upgraded Aptiv (APTV) and Lear (LEA), each to Buy from Underperform, as he rebalanced his ratings among his auto makers and suppliers coverage [more]
  • Piper lists winners and losers from semi-annual teen survey [more]

3. AROUND THE WEB:

  • Mullen Automotive (MULN) was called "yet another EV hustle" in a Hindenburg short report [more]
  • Tesla's (TSLA) Shanghai factory shutdown is expected to extend to Friday, Electrek reports [more]
  • Spruce Point named Stryker (SYK) as a short target and sees 35%-75% downside risk [more]
  • President Joe Biden voiced support for Amazon (AMZN) warehouse unionization efforts, CNBC reports [more]
  • Toyota's (TM) Woven Planet unit told Reuters it can use low-cost cameras for self-driving technology [more]

4. MOVERS:

  • NextDecade (NEXT) rose after executing a 20-year sale and purchase agreement with ENN LNG [more]
  • Gogo (GOGO) gained after being named to join the S&P SmallCap 600 index [more]
  • Rhythm Pharmaceuticals (RYTM) fell after announcing modifications for its EMANATE and DAYBREAK trials [more]
  • Oatly (OTLY) lower after filing its Annual Report on Form 20-F [more]
  • Hyzon Motors (HYZN) declined after Canaccord downgraded the stock to Hold [more]

5. EARNINGS/GUIDANCE:

  • Tilray (TLRY) reported an unexpected fiscal Q3 profit [more]
  • Simply Good Foods (SMPL) provided a "beat and raise" report for Q2 [more]
  • SGH (SGH) also reported a "beat and raise" quarter on profitability [more]
  • Grid Dynamics (GDYN) raised its Q1 revenue guidance [more]
  • Schnitzer Steel (SCHN) reported better-than-expected Q2 revenue [more]

INDEXES:

The Dow fell 144.67, or 0.42%, to 34,496.51, the Nasdaq lost 315.35, or 2.22%, to 13,888.82, and the S&P 500 declined 43.97, or 0.97%, to 4,481.15.

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