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TWTR, TSLA, POSH...
10/4/2022 12:10pm
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:
- Elon Musk said to propose proceeding with Twitter (TWTR) buyout deal at $54.20 per share, Bloomberg reports [more]
- Poshmark (POSH) agreed to be acquired by Naver for $17.90 per share [more]
- Micron (MU) will invest up to $100B to build a "megafab" semiconductor fabrication facility in upstate New York [more]
- Boeing's (BA) 737 MAX 10 may not get FAA approval until the summer, Reuters reports [more]
- Ford (F) reported September U.S. vehicle sales fell 8.9% year-over-year [more]
2. WALL STREET CALLS:
- Wells Fargo downgrades Paramount (PARA) on "crumbling" linear ecosystem [more]
- Domino's Pizza (DPZ) upgraded to Buy from Neutral at UBS [more]
- Gilead (GILD) upgraded to Overweight from Neutral at JPMorgan [more]
- Amazon (AMZN) remains JPMorgan's top internet idea, followed by Uber (UBER) [more]
- CommScope (COMM) upgraded to Outperform from Neutral at Credit Suisse [more]
3. AROUND THE WEB:
- Samsung (SSNLF) to triple advanced chip output by 2027, Nikkei Asia reports [more]
- Foxconn (HNHPF) is "cautiously positive" on Q4, CNBC reports [more]
- Apple (AAPL) iPhone exports from India crossed $1B since April, Bloomberg reports [more]
- The Biden administration intends to limit sales of technology to China, NY Times reports [more]
- Bed Bath & Beyond (BBBY) creditors are working with Perella Weinberg ahead of bond talks, WSJ reports [more]
4. MOVERS:
- Inhibrx (INBX) higher after announcing potential to pursue accelerated approval in U.S. for INBRX-101 [more]
- Rivian (RIVN) rises after reporting it produced 7,364 vehicles in Q3, up from 6,584 vehicles during the same period last year [more]
- Core Scientific (CORZ) up after Barclays initiated coverage of the stock with an Overweight rating and $3 price target [more]
- KalVista (KALV) decreases after announcing the termination of KVD824 Phase 2 KOMPLETE trial [more]
- Maravai LifeSciences (MRVI) falls after appointing William Martin as its new CEO [more]
5. EARNINGS/GUIDANCE:
- Hasbro (HAS) cut its FY22 revenue guidance while offering a long-term outlook with 2027 financial targets at its investor day [more]
- AXT Inc. (AXTI) lowered its Q3 revenue guidance [more]
- Acuity Brands (AYI) reported upbeat Q4 results [more]
- Reborn Coffee (REBN) reported higher sales, greater losses than in Q2 of last year [more]
- American Electric (AEP) narrowed its FY22 operating earnings outlook [more]
INDEXES:
Near midday, the Dow was up 771.32, or 2.62%, to 30,262.21, the Nasdaq was up 355.96, or 3.29%, to 11,171.39, and the S&P 500 was up 105.62, or 2.87%, to 3,784.05.