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AAPL, WMB, BBBY...
9/29/2022 12:09pm
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: 

  • BofA analyst Wamsi Mohan downgraded Apple (AAPL) to Neutral from Buy, citing outperformance year-to-date, while Rosenblatt's Barton Crockett upgraded the stock to Buy, citing "substantial interest" from survey respondents in the iPhone 14 Pro Max [more]
  • Williams (WMB) said it sees FY22 adjusted EBITDA near high end of prior $6.1B-$6.4B guidance [more]
  • Bed Bath & Beyond (BBBY) reported downbeat Q2 results and maintained its FY22 outlook [more]
  • Intuit (INTU) reiterated its Q1 and FY23 earnings and revenue guidance [more]
  • Vail Resorts (MTN) reported upbeat Q4 results [more]


2. WALL STREET CALLS: 

  • Coinbase (COIN) initiated with an Underweight at Wells Fargo [more]
  • First Solar (FSLR) upgraded to Outperform at Evercore on IRA benefits [more]
  • Wolfe upgrades Charter (CHTR) to Peer Perform, ups Cable sector rating to Market Weight [more]
  • Citi double downgraded Sunlight Financial (SUNL) to Sell while Roth Capital cut its rating on the stock to Neutral [more]
  • Wix.com (WIX) upgraded to Outperform from Perform at Oppenheimer [more]


3. AROUND THE WEB: 

  • Warner Bros. Discovery (WBD) CEO David Zaslav said the company is not for sale, Deadline reports [more]
  • Salesforce (CRM) has quietly become a giant government contractor, Insider reports [more]
  • Smith & Wesson (SWBI) is being sued by Highland Park victim's families, WSJ reports [more]
  • BP (BP) laid off most of its contractors at a Toledo facility after last week's fire, Reuters reports [more]
  • A lawsuit has been filed against BetMGM (MGM) over glitches, WSJ says [more]


4. MOVERS: 

  • Neogen (NEOG) higher after launching new genomic management technology [more]
  • Rite Aid (RAD) lower after reporting quarterly results and cutting FY23 guidance [more]
  • Altus Power (AMPS) decreases after announcing a 7M share offering [more]
  • Nordic American Tankers (NAT) declines in New York after announcing the sale of Suezmax tanker [more]
  • Olaplex Holdings (OLPX) declines after Piper Sandler downgraded the stock to Neutral with a price target of $12, down from $19 [more]


5. EARNINGS/GUIDANCE: 

  • CarMax (KMX) reported downbeat Q2 results [more]
  • Vulcan Materials (VMC) raised its adjusted EBITDA target [more]
  • Allegiant Travel (ALGT) cut its Q3 revenue guidance [more]
  • Aterian (ATER) provided upbeat Q3 revenue guidance [more]
  • Allegiant Travel (ALGT) lowered its Q3 revenue view, citing the impact of Hurricane Ian [more]


INDEXES: 

Near midday, the Dow was down 343.85, or 1.16%, to 29,339.89, the Nasdaq was down 284.81, or 2.58%, to 10,766.83, and the S&P 500 was down 64.83, or 1.74%, to 3,654.21.

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