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HPQ, DE, CS...
11/23/2022 12:11pm
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: 

  • HP Inc. (HPQ) announced a massive restructuring program along with its fiscal Q4 earnings that were largely in line with expectations [more]
  • Deere (DE) reported Q4 reported better-than-expected sales and earnings in what CEO John May called a "strong performance for both the fourth quarter and full year" [more]
  • Credit Suisse (CS) provided an updated outlook for Q4 and said it sees a "substantial" loss of up to CHF 1.5B in the quarter [more]
  • Manchester United (MANU) confirmed that its board is commencing a process to explore strategic alternatives for the club, including a possible sale [more]
  • The Federal Reserve Board and FDIC identified a shortcoming in Citigroup's (C) resolution plan, also known as its "living will" [more]


2. WALL STREET CALLS: 

  • Tesla (TSLA) upgraded to Neutral from Sell at Citi [more]
  • Medtronic (MDT) downgraded to Neutral from Buy at Citi and to Perform from Outperform at Oppenheimer [more]
  • Victory Capital (VCTR) downgraded to Underweight from Overweight at Piper Sandler [more]
  • Beyond Meat (BYND) price target lowered to $5 from $14 at Goldman Sachs [more]
  • Argus upgraded Yum! Brands (YUM) to Buy with a $142 price target [more]


3. AROUND THE WEB: 

  • Amazon (AMZN) to invest $1B a year in movies for theatrical release, Bloomberg says [more]
  • Disney's (DIS) "Avatar" sequel to be released in China in December, CNBC reports [more]
  • Six people dead after shooting at Virginia Walmart (WMT) store, WSJ reports [more]
  • Morgan Stanley (MS) may seek $500M for Coinage in a deal, Bloomberg reports [more]
  • Employees at Foxconn's iPhone assembly plant clash with police, WSJ reports [more]


4. MOVERS: 

  • Full Truck Alliance (YMM) higher in New York after reporting quarterly results [more]
  • Carvana (CVNA) gains after CPO Gill acquired 133,000 shares of the company’s stock [more]
  • PagSeguro (PAGS) lower in New York after reporting quarterly results [more]
  • Kingsoft Cloud (KC) declines in New York after reporting quarterly results and providing guidance for Q4 [more]
  • Maxar Technologies (MAXR) falls after amending its agreement with EchoStar (SATS) for the production of the EchoSTar XXIV satellite [more]


5. EARNINGS/GUIDANCE: 

  • Nordstrom (JWN) reported Q3 sales and earnings that were better than expected and backed its FY22 adjusted EPS view [more]
  • Autodesk missed Q3 expectations and lowered Q4 guidance [more]
  • Guess (GES) reported mixed Q3 results [more]
  • VMware (VMW) reported Q3 results that CEO Raghu Raghuram said "met our expectations" [more]
  • PagSeguro Digital (PAGS) had what Susquehanna analyst James Friedman said was "a largely in-line quarter" [more]


INDEXES: 

Near midday, the Dow was flat at 34,097.29, the Nasdaq was up 65.14, or 0.58%, to 11,239.55, and the S&P 500 was up 9.92, or 0.25%, to 4,013.50.

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