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ADBE, ACN, DRI...
12/16/2022 12:12pm
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:

  • Adobe (ADBE) reported upbeat Q4 earnings and reiterated FY23 earnings and revenue guidance [more]
  • Accenture (ACN) provided a "beat and raise" report for Q1 [more]
  • Darden (DRI) reported upbeat Q2 results and narrowed FY23 earnings guidance [more]
  • Maxar Technologies (MAXR) agreed to be acquired by Advent International for $6.4B in cash [more]
  • Trean Insurance (TIG) will be acquired by Altaris Capital for $6.15 per share in cash [more]

2. WALL STREET CALLS:

  • Meta Platforms (META) upgraded to Overweight from Neutral at JPMorgan [more]
  • BTIG upgrades Agilysys (AGYS) to Buy after "game-changing contract win" [more]
  • Sarepta (SRPT) upgraded to Buy at UBS ahead of "highly likely" SRP-9001 approval [more]
  • New York Times (NYT) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
  • AvalonBay (AVB) downgraded to Underweight from Neutral at JPMorgan [more]

3. AROUND THE WEB:

  • Avaya (AVYA) is nearing a Chapter 11 bankruptcy filing, WSJ reports [more]
  • Goldman Sachs (GS) plans to lay off up to 4,000 employees, Semafor says [more]
  • American Airlines (AAL) is tightening access to frequent-flier status, WSJ says [more]
  • Twitter (TWTR) has suspended journalists at the New York Times (NYT) and CNN (WBD) covering Elon Musk and the company, NBC News reports [more]
  • Apollo (APO) and EQT (EQBBF) will sell Direct ChassisLink for roughly $3.6B, Reuters reports [more]

4. MOVERS:

  • Exact Sciences (EXAS) jumps after rival Guardant Health (GH) disclosed results from its three-year, pivotal ECLIPSE trial evaluating the performance of its blood-based test for detecting colorectal cancer [more]
  • Planet Labs (PL) rises after Maxar Technologies (MAXR) agreed to go private [more]
  • Guardant Health (GH) falls after announcing results from ECLIPSE [more]
  • IMV Inc. (IMV) drops after announcing a $9M registered direct offering priced ATM [more]
  • Gencor Industries (GENC) lower after reporting 2022 results [more]

5. EARNINGS/GUIDANCE:

  • U.S. Steel (X) provided upbeat Q4 guidance [more]
  • Travelzoo (TZOO) provided an upbeat Q4 revenue outlook [more]
  • Centene (CNC) reiterated its FY22 outlook and provided FY23 guidance [more]
  • Winnebago (WGO) reported upbeat Q1 results [more]
  • Steel Dynamics (STLD) provided upbeat Q4 earnings guidance [more]

INDEXES:

Near midday, the Dow was down 455.75, or 1.37%, to 32,746.47, the Nasdaq was down 146.05, or 1.35%, to 10,664.48, and the S&P 500 was down 60.18, or 1.54%, to 3,835.57.

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