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FCNCA, SIVB, CRM...
3/27/2023 16:03pm
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:

  • First Citizens (FCNCA) agreed to acquire the deposits and loans of Silicon Valley Bank (SIVB) [read more]
  • Elliott will not proceed with Salesforce (CRM) director nominations in light of the company's previously announced multi-year growth framework, fiscal year 2023 results and fiscal year 2024 transformation initiatives [read more]
  • Jounce (JNCE) agreed to be acquired by Concentra for $1.85 in cash plus a non-tradeable contingent value right [read more]
  • The U.S. CFTC has charged Binance and founder Changpeng Zhao with regulatory violations [read more]
  • Ohio Attorney General Dave Yost sued Express Scripts and Prime Thereaputics over drug price fixing, with Cigna (CI) and Humana (HUM) named as co-defendants [read more]

2. WALL STREET CALLS:

  • Caterpillar (CAT) and United Rentals (URI) were both downgraded to Underperform from Neutral at Baird [read more]
  • Pinterest (PINS) upgraded to Buy from Neutral at UBS [read more]
  • Susquehanna upgrades Roku (ROKU) to Positive on attractive risk/reward [read more]
  • Dish (DISH) downgraded to Neutral from Buy at UBS [read more]
  • Corning (GLW) upgraded to Buy from Hold at Deutsche Bank [read more]

3. AROUND THE WEB:

  • Mattel (MAT) is "back in play" after a new severance plan, Dealreporter says [read more]
  • Microsoft (MSFT) threatens to cut rivals' Bing search index access, Bloomberg reports [read more]
  • Uber Eats (UBER) will remove thousands of online-only brands, WSJ reports [read more]
  • Apple (AAPL) demos mixed reality headset for top 100 executives, Bloomberg says [read more]
  • Disney (DIS) will begin layoffs this week, CNBC reports [read more]

4. MOVERS:

  • First Republic Bank (FRC) higher after Bloomberg reported U.S authorities are considering expanding an emergency lending facility for banks [read more]
  • Iovance Biotherapeutics (IOVA) gains after completing its BLA submission for lifileucel [read more]
  • Marqeta (MQ) rises after Wolfe Research upgraded the stock to Outperform [read more]
  • Frontier Communications (FYBR) decreases after Morgan Stanley downgraded the stock to Underweight [read more]
  • Coinbase (COIN) falls after Barclays lowered its price target on the stock to $70 from $86 [read more]

5. EARNINGS/GUIDANCE:

  • Carnival (CCL) reported better-than-expected Q1 results [read more]
  • LianBio (LIAN) reported upbeat Q4 earnings [read more]
  • H World Group (HTHT) reported mixed Q4 results [read more]
  • Delcath Systems (DCTH) reported downbeat Q4 earnings and revenue [read more]
  • Reneo Pharmaceuticals (RPHM) reported upbeat Q4 earnings [read more]

INDEXES:

The Dow rose 194.55, or 0.60%, to 32,432.08, the Nasdaq lost 55.12, or 0.47%, to 11,768.84, and the S&P 500 advanced 6.54, or 0.16%, to 3,977.53.

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