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NVDA, AMD, CPB...
9/1/2022 16:09pm
What You Missed On Wall Street On Thursday

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

1. STOCK NEWS:

  • Nvidia (NVDA) said it was informed of a new licenses requirement for China and Russia export by the U.S. Commerce Department [more]
  • AMD (AMD) told Reuters the new China export rules are not expected to have a material impact [more]
  • Campbell Soup (CPB) reported downbeat Q4 revenue and provided FY23 earnings and revenue guidance [more]
  • Novo Nordisk (NVO) agreed to acquire Forma Therapeutics (FMTX) for $20 per share in cash [more]
  • Illumina (ILMN) announced a "favorable decision" in an FTC suit contesting the Grail deal [more]

2. WALL STREET CALLS:

  • Raymond James downgrades Bed Bath & Beyond (BBBY) to sell on "abysmal" trends [more]
  • Western Digital (WDC) downgraded to Sell at Benchmark following peer Seagate's (STX) forecast [more]
  • Vulcan Materials (VMC) upgraded to Buy from Hold at Vertical Research [more]
  • HP Inc. (HPQ) cut to Hold at Loop Capital on Poly integration, slowing demand [more]
  • Baidu (BIDU) upgraded to Overweight from Neutral at JPMorgan [more]

3. AROUND THE WEB:

  • Microsoft (MSFT) combat goggles win army approval for delivery, Bloomberg says [more]
  • Bear Cave's Edwin Dorsey sees "problems" at AMMO (POWW) [more]
  • Microsoft's (MSFT) proposed takeover of Activision Blizzard (ATVI) is facing an in-depth U.K. probe, Bloomberg says [more]
  • Ford (F) is recalling 198,000 U.S. SUVs due to fire risk, Reuters reports [more]
  • Chevron (CVX) has asked the U.S. to expand its Venezuela license, Reuters says [more]

4. MOVERS:

  • Turquoise Hill (TRQ) gains in New York after entering an agreement to be acquired by Rio Tinto (RIO) [more]
  • Nutanix (NTNX) higher after reporting quarterly results [more]
  • Semtech (SMTC) and MongoDB (MDB) fall after reporting quarterly results [more]
  • Liquidia (LQDA) declines after judge issued opinion on the company’s patent fight with Untied Therapeutics (UTHR) [more]
  • Asana (ASAN) lower after Citi initiated coverage of the stock with a Neutral rating and $23 price target [more]

5. EARNINGS/GUIDANCE:

  • Okta (OKTA) reported what Stifel analyst Adam Borg described as a "disappointing quarter" that included go-to-market integration and execution issues, a lowering of fiscal year billings guidance and the re-evaluating of its existing FY26 targets [more]
  • Pure Storage (PSTG) reported better-than-expected Q2 earnings and revenue [more]
  • Five Below (FIVE) reported downbeat Q2 results [more]
  • Signet Jewelers (SIG) reported mixed Q2 results [more]
  • Hormel Foods (HRL) reported mixed Q3 results but cut its FY22 earnings guidance [more]

INDEXES:

The Dow rose 145.99, or 0.46%, to 31,656.42, the Nasdaq lost 31.08, or 0.26%, to 11,785.13, and the S&P 500 advanced 11.85, or 0.30%, to 3,966.85.

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