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BITF, CRM, HPQ...
6/1/2022 12:06pm
What You Missed On Wall Street This Morning

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


1. STOCK NEWS: 

  • Salesforce (CRM) posted what Barclays analyst Raimo Lenschow called a "good enough" quarter when considering the lowered expectations from investors heading into the print [more]
  • HP Inc. (HPQ) beat fiscal Q2 estimates, but analyst at Morgan Stanley and Barclays remain cautious on the stock [more]
  • S&P Global (SPGI) announced that it is suspending financial guidance for FY22 given how macroeconomic conditions have deteriorated [more]
  • Delta Air Lines (DAL) said it sees its June quarter revenue "fully restored" to 2019 levels [more]
  • Forbes Global Media and SeatGeek each reported plans to scrap their previously announced SPAC merger deals [more]


2. WALL STREET CALLS: 

  • Tempur Sealy downgraded to Neutral at Piper Sandler after "disappointing" checks on Memorial Day weekend sales [more]
  • Maxim upgrades Vertex Pharmaceuticals (VRTX) to Buy as company expands beyond CF [more]
  • Blueprint Medicines (BPMC) raised to Buy at Jefferies after physician survey on Ayvakit [more]
  • GoodRx (GDRX) downgraded to Neutral from Outperform at Baird [more]
  • Medtronic (MDT) downgraded to Neutral from Overweight at Atlantic Equities [more]


3. AROUND THE WEB: 

  • Apple (AAPL) to move some iPad production out of China, Nikkei reports [more]
  • Hindenburg Research announces short position in Enochian Biosciences (ENOB) [more]
  • "Buy now, pay later" companies impacted by late payments, losses, WSJ reports [more]
  • Tesla (TSLA) CEO Musk demands executives return to office, Bloomberg reports [more]
  • U.S. Supreme Court suspends Texas social media law, Bloomberg reports [more]


4. MOVERS: 

  • CareMax (CMAX) rose after announcing it will acquire the Medicare value-based care business of Steward for a combination of cash and stock [more]
  • Nio (NIO) higher in New York after announcing May delivery results [more]
  • Bark (BARK) drops after reporting fourth quarter results [more]
  • LexinFintech (LX) lower in New York after CLSA downgraded the stock to Sell from Outperform [more]
  • Bitfarms (BITF) declines in New York after providing a Bitcoin production update for May [more]


5. EARNINGS/GUIDANCE: 

  • Victoria's Secret (VSCO) reported better-than-expected Q1 earnings [more]
  • Capri Holdings (CPRI) announced better-than-expected results and guidance and approved a new $1B share repurchase program [more]
  • Ambarella (AMBA) reported in-line April quarter revenue, but its July quarter outlook was lower than expected due to China lockdowns [more]
  • Digital Turbine (APPS) reported fiscal Q4 net revenue growth and adjusted EBITDA below consensus and was called out by Oppenheimer analyst Timothy Horan as the latest company to "flag a sudden downshift in customer demand" [more]
  • Humana (HUM) backed its FY22 adjusted EPS view [more]


INDEXES: 

Near midday, the Dow was down 353.42, or 1.07%, to 32,636.70, the Nasdaq was down 148.57, or 1.23%), to 11,932.82, and the S&P 500 was down 50.62, or 1.23%, to 4,081.53.

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