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TGT, ZM, WDAY...
2/28/2023 12:02pm
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: 

  • Target (TGT) reported better-than-expected Q4 sales and earnings, but gave a worse than expected profit outlook for the new fiscal year [read more]
  • Zoom Video (ZM) reported better-than-expected Q4 earnings and revenue [read more]
  • Workday (WDAY) reported Q4 results analysts described as "solid" and gave an update to FY24 guidance that narrows the subscription revenue range, but sustains the revenue mid-point [read more]
  • J.M. Smucker (SJM) reported better-than-expected Q3 results and raised its FY23 adjusted EPS view [read more]
  • Baytex Energy (BTE) agreed to acquire Ranger Oil (ROCC) for $2.5B in cash and stock including the assumption of debt [read more]


2. WALL STREET CALLS: 

  • Arconic (ARNC) downgraded to Sell from Neutral at Goldman Sachs [read more]
  • Dish (DISH) double downgraded to Underperform from Buy at BofA [read more]
  • FuboTV (FUBO) downgraded to In Line from Outperform at Evercore ISI [read more]
  • Celsius Holdings (CELH) upgraded to Outperform from Neutral at Credit Suisse [read more]
  • Argus upgrades Airbnb (ABNB) to Buy, sees strong urban demand, benefits from overseas [read more]


3. AROUND THE WEB: 

  • White House to impose TikTok ban on federal devices, Reuters says [read more]
  • EU narrows Apple (AAPL) probe to app restrictions, FT reports [read more]
  • Shell (SHEL) explored moving HQ, listing to the U.S., FT reports [read more]
  • Tesla (TSLA) to announce deal for factory in Mexico, Electrek reports [read more]
  • Fox's (FOXA) Rupert Murdoch admitted news hosts "endorsed" claims election stolen, FT reports [read more]


4. MOVERS: 

  • Chico's (CHS) higher after reporting quarterly results and providing guidance [read more]
  • Vertex Energy (VTNR), Clear Channel Outdoor (CCO), and Progyny (PGNY) rise after reporting quarterly results [read more]
  • AdaptHealth (AHCO) declines after reporting quarterly results and cutting its FY23 guidance [read more]
  • TPI Composites (TPIC) lower after announcing a $100M offering of convertible senior notes [read more]
  • Norwegian Cruise Line (NCLH) and TaskUs (TASK) fall after reporting quarterly results [read more]


5. EARNINGS/GUIDANCE: 

  • Citi said "there was a lot to like" in the Q4 earnings report of Hims & Hers (HIMS) [read more]
  • Clarus (CLAR) reported "mixed" Q4 results and gave initial 2023 sales guidance that was below consensus expectations [read more]
  • Advance Auto Parts (AAP) reported better-than-expected Q4 results, said CEO Greco to retire at year-end [read more]
  • Peer AutoZone (AZO) also report sales and earnings that beat estimates [read more]
  • Kontoor Brands' (KTB) CEO and Chair Scott Baxter said Q4 revenue and EPS "came in significantly above our plan" [read more]


INDEXES: 

Near midday, the Dow was down 181.33, or 0.55%, to 32,707.76, the Nasdaq was up 17.32, or 0.15%, to 11,484.30, and the S&P 500 was down 2.11, or 0.05%, to 3,980.13.

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