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DB, MO, CLX...
3/24/2023 12:03pm
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:

  • Deutsche Bank (DB) default insurance has reached a four-year high, according to Reuters [read more]
  • Altria (MO) affirmed its FY23 earnings guidance [read more]
  • Clorox (CLX) is seeking a buyer for its loss-making vitamins business, Reuters reports [read more]
  • Scholastic (SCHL) reported downbeat Q3 results, lowered its FY23 revenue growth guidance, and authorized an additional $50M for share repurchases [read more]
  • Joann (JOAN) reported mixed Q4 results [read more]

2. WALL STREET CALLS: 

  • Coinbase (COIN) downgraded to Underperform from Market Perform at TD Cowen [read more]
  • Atlantic Equities downgrades Block (SQ) pending more clarity on short report [read more]
  • XPeng (XPEV) downgraded to Market Perform from Outperform at Bernstein [read more]
  • Regeneron (REGN) upgraded to Buy on COPD opportunity at Jefferies [read more]
  • UBS (UBS) downgraded to Hold from Buy at Jefferies [read more]

3. AROUND THE WEB:

  • CPPIB explores buyout out of ReNew Energy (RNW) shareholders, Bloomberg reports [read more]
  • JPMorgan (JPM) managed to gain most customers who fled SVB (SIVB), NY Post says [read more]
  • Meta (META) VR device teardown shows chips mostly made by U.S. companies, Nikkei reports [read more]
  • Apple (AAPL) is tracking employee attendance via badge records, Platformer reports [read more]
  • Slack's (CRM) sales chief will leave the company at the end of April, Information reports [read more]

4. MOVERS:

  • Nano Dimension (NNDM) higher in New York after announcing it is reviewing options relative to Stratasys (SSYS) and alternative targets [read more]
  • Activision Blizzard (ATVI) gains after the U.K. Competition and Markets Authority announced it is narrowing its scope of concerns in its review of the company’s deal with Microsoft (MSFT) [read more]
  • Amprius Technologies (AMPX) falls after reporting quarterly results and saying it will be "limited by manufacturing capacity" [read more]
  • VNET Group (VNET) slips after Nomura downgraded the stock to Neutral [read more]
  • Farfetch (FTCH) lower in New York after JMP Securities initiated coverage of the stock with a Market Perform [read more]

5. EARNINGS/GUIDANCE:

  • Impel Pharmaceuticals (IMPL) reported upbeat Q4 results [read more]
  • Stifel Financial (SF) sees Q1 investment banking revenue down 5%-10% [read more]
  • Oncorus (ONCR) reported downbeat Q4 earnings [read more]
  • Leap Therapeutics (LPTX) reported in-line Q4 earnings [read more]
  • Humacyte (HUMA) reported mixed Q4 results [read more]

INDEXES:

Near midday, the Dow was down 24.12, or 0.08%, to 32,081.13, the Nasdaq was down 26.13, or 0.22%, to 11,761.27, and the S&P 500 was down 2.93, or 0.07%, to 3,945.79.

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