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

1. STOCK NEWS: 

• FedEx (FDX) plunged after withdrawing its FY23 guidance, saying it is accelerating cost reduction efforts amid "significantly worsened" trends [more]
• Texas Instruments (TXN) raised its dividend 8% and announced a $15B share buyback program [more]
  
• NCR Corp. (NCR) will separate into two different companies, one focused on digital commerce and one on ATMs [more]
  
• Huntsman (HUN) slashed its Q3 adjusted EBITDA guidance [more]
  
• Extra Space Storage (EXR) acquired Storage Express for $590M [more]
  

2. WALL STREET CALLS: 

• Alcoa (AA) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
• International Paper (IP) and Packaging Corp. (PKG) were each downgraded to Underperform from Hold at Jefferies [more]
  
• BofA and Baird both downgraded Adobe (ADBE) to Neutral following the company's acquisition of Figma [more]
  
• Arrow Electronics (ARW) downgraded to Underweight on weakening demand at Wells Fargo [more]
  
• Cowen upgrades Shoals (SHLS) to Outperform, sees "compelling opportunity" [more]
  

3. AROUND THE WEB: 

• Goldman Sachs' (GS) Marcus consumer unit is the focus of a Fed review, Bloomberg reports [more]
• Google Cloud (GOOGL) plans to unfreeze hiring, Insider reports [more]
  
• A WHO panel recommended against GSK (GSK) and Regeneron (REGN) COVID drugs, Bloomberg reports [more]
  
• Tesla (TSLA) CEO Elon Musk is demanding weekly attendance reports from staff, CNBC reports [more]
  
• Meta (META) will scale back its New Product Experimentation unit, Platformer says [more]
  

4. MOVERS: 

• Pfizer (PFE) higher after announcing it received a positive CHMP opinion on converting the conditional marketing authorization for its COVID vaccine to a standard authorization [more]
• Gogo (GOGO) up after announcing it will repurchase 1.5M share of common stock owned by BlackRock (BLK) [more]
  
• Merck (MRK) gains after announcing it received CHMP recommendation for approval of Vaxneuvance [more]
  
• Aditx Therapeutics (ADTX) declines after announcing a 3.33M share offering [more]
  
• Alignment Healthcare (ALHC) lower after announcing a 9M share offering [more]
  

5. EARNINGS/GUIDANCE: 

• FirstEnergy (FE) sees FY22 results in the upper half of its guidance range [more]
• Charles Schwab (SCHW) provied Q3 revenue guidance [more]
  
• Travel + Leisure (TNL) reiterated its Q3 adjusted EBITDA guidance [more]
  
• Bowlero (BOWL) reported upbeat Q4 results [more]
  
• Rezolute (RZLT) reported better-than-expected Q4 earnings [more]
  

INDEXES: 

Near midday, the Dow was down 290.94, or 0.94%, to 30,670.88, the Nasdaq was down 164.44, or 1.42%, to 11,387.91, and the S&P 500 was down 46.35, or 1.19%, to 3,855.00.