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PCOM, DIS, DISH...
5/9/2022 17:05pm
What You Missed On Wall Street On Monday

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

1. STOCK NEWS:

  • Tyson Foods (TSN) provided a "beat and raise" report for Q2 [more]
  • Palantir (PLTR) reported downbeat Q1 earnings but upbeat revenue for the quarter [more]
  • Plusgrade will acquire Points (PCOM) in an all-cash transaction [more]
  • Disney's (DIS) "Doctor Strange in the Multiverse of Madness" grossed $185M in its debut weekend, including a $33M opening at Imax (IMAX) screens [more]
  • Philip Morris (PM) is in talks to acquire Swedish Match (SWMAY) [more]

2. WALL STREET CALLS:

  • JPMorgan downgraded Dish Network (DISH) to Neutral from Overweight, while Credit Suisse upgraded the stock to Outperform from Neutral with an unchanged price target [more]
  • Virgin Galactic (SPCE) was downgraded to Hold from Buy at Truist after Canaccord also cut its rating on the stock last week [more]
  • Wells Fargo upgraded Match Group (MTCH) to Overweight from Equal Weight [more]
  • iHeartMedia (IHRT) downgraded to Neutral from Overweight at JPMorgan [more]
  • Lake Street, Northland, Needham and B. Riley initiated coverage of Applied Blockchain (APLD) with Buy-equivalent ratings [more]

3. AROUND THE WEB:

  • Ford (F) will sell 8M shares of Rivian (RIVN) as the IPO lockup period expires, CNBC reports [more]
  • Uber (UBER) CEO Dara Khosrowshahi told employees the company will cut back on spending, CNBC reports [more]
  • Hindenburg is shorting Twitter (TWTR) on risk of the Musk deal getting repriced lower [more]
  • Lockheed Martin (LMT) is looking to nearly double Javelin missile production, Reuters reports [more]
  • Goldman Sachs (GS) will no longer work with SPACs over liability concerns, Bloomberg reports [more]

4. MOVERS:

  • Viatris (VTRS) higher after reporting quarterly results and announcing FY22 guidance [more]
  • Amicus Therapeutics (FOLD) increases after reporting quarterly results and announcing FY22 Galafold revenue guidance [more]
  • Ke Holdings (BEKE) declines in New York after filing to sell shares [more]
  • PagSeguro Digital (PAGS) lower in New York after New Street analyst Soomit Datta downgraded the stock to Neutral from Buy [more]
  • Lordstown Motors (RIDE) falls after reporting quarterly results [more]

5. EARNINGS/GUIDANCE:

  • Blue Apron (APRN) reported downbeat quarterly results [more]
  • Party City (PRTY) reported downbeat quarterly results and cut its FY22 revenue guidance [more]
  • Tegna (TGNA) reported better-than-expected Q1 earnings and revenue [more]
  • Exelon (EXC) reported upbeat Q1 revenue and reaffirmed its 2022 guidance [more]
  • Heska (HSKA) reported upbeat Q1 adjusted earnings [more]

INDEXES:

The Dow fell 653.67, or 1.99%, to 32,245.70, the Nasdaq lost 521.41, or 4.29%, to 11,623.25, and the S&P 500 declined 132.10, or 3.20%, to 3,991.24.

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