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10/31/2022 16:10pm
What You Missed On Wall Street On Monday
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Emerson Electric (EMR) agreed to sell a majority stake in Climate Technologies to Blackstone (BX) [more]
- Thermo Fisher (TMO) agreed to acquire The Binding Site Group for $2.6B [more]
- TuSimple (TSP) shares tumbled after the board terminated CEO and chairman Xiaodi Hou [more]
- Foxconn's (HNHPF) iPhone (AAPL) output could drop by 30% over a COVID outbreak, according to Reuters [more]
- Global Payments (GPN) reported "strong" Q3 results and provided upbeat FY22 earnings guidance [more]
2. WALL STREET CALLS:
- AMD (AMD) downgraded to Market Perform at Northland on slow-to-recover Chinese demand [more]
- Caterpillar (CAT) downgraded to Neutral from Buy at UBS [more]
- Hanesbrands (HBI) downgraded to Underweight from Overweight at Wells Fargo [more]
- Keurig Dr Pepper (KDP) downgraded to Sell from Hold at Truist [more]
- Paramount (PARA) downgraded to Underweight from Equal Weight at Wells Fargo [more]
3. AROUND THE WEB:
- Macau has reinstated strict COVID-19 measures, Reuters reports [more]
- Ford (F) will offer severance pay to underperformers, WSJ reports [more]
- China Southern Airlines (ZNH) canceled a planned return of Boeing (BA) 737 MAX flights, Reuters says [more]
- Amazon (AMZN) will challenge ESPN (DIS) and Fox Sports 1 (FOX) with a sports talk line-up, NY Post reports [more]
- Microsoft (MSFT) hasn't offered any remedies in the EU's first review of its proposed takeover of Activision Blizzard (ATVI), Reuters reports [more]
4. MOVERS:
- Terran Orbital (LLAP) rose after receiving a $100M investment from Lockheed Martin (LMT) [more]
- Nikola (NKLA) advanced after entering a hydrogen supply collaboration with Keystate [more]
- Helix Energy (HLX) gained after announcing a deepwater well decommissioning contract award [more]
- Y-mAbs Therapeutics (YMAB) fell after the FDA's Oncologic Drugs Advisory Committee panel voted unanimously against the application resubmission for omburtamab [more]
- Newell (NWL) declined after Barclays downgraded the stock to Underweight [more]
5. EARNINGS/GUIDANCE:
- ON Semiconductor (ON) reported upbeat Q3 results [more]
- PSEG (PEG) reported better-than-expected Q3 results [more]
- Saia (SAIA) reported downbeat Q3 earnings [more]
- Jeld-Wen (JELD) reported sharply upbeat Q3 results [more]
- XPO Logistics (XPO) reported mixed Q3 results [more]
INDEXES:
The Dow fell 128.85, or 0.39%, to 32,732.95, the Nasdaq lost 114.31, or 1.03%, to 10,988.15, and the S&P 500 declined 29.08, or 0.75%, to 3,871.98.
