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MU, M, CS...
3/29/2023 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: 

  • Micron (MU) price targets were raised at several firms after the company reported fiscal Q2 results and a Q3 outlook that was largely in-line with market expectations [read more]
  • Macy's (M) announced CEO Jeff Gennette will retire and Tony Spring will succeed him in the top post [read more]
  • Further to the announcement regarding the acquisition of Credit Suisse (CS), the board of directors of UBS have appointed Sergio Ermotti as Group CEO and President [read more]
  • Lululemon (LULU) shares have jumped and seen at least two upgrades following the company's quarterly report [read more]
  • Nano Dimension (NNDM) upped its offer to acquire Stratasys (SSYS) to $19.55 per share [read more]


2. WALL STREET CALLS: 

  • Susquehanna upgrades Carnival with liquidity concerns seen being "effectively de-risked" [read more]
  • Hershey (HSY) upgraded to Equal Weight on pricing tailwinds at Wells Fargo [read more]
  • Foot Locker (FL), Urban Outfitters (URBN), Burlington Stores (BURL) and Ross Stores (ROST) were all downgraded to Sell at UBS [read more]
  • Ciena (CIEN) downgraded to Equal Weight at Morgan Stanley day after being raised to Strong Buy at Raymond James [read more]
  • Daiwa initiated coverage of Deere (DE) with an Outperform rating [read more]


3. AROUND THE WEB: 

  • Cardinal Health (CAH) exploring possible sale of nuclear medicine unit, Bloomberg says [read more]
  • Carl Icahn want to bring former CEO Jay Flately back to Illumina (ILMN), WSJ reports [read more]
  • Lyft (LYFT) CEO says not up for sale, Bloomberg reports [read more]
  • JPMorgan (JPM) CEO Dimon to be deposed over bank’s ties to Epstein, Bloomberg reports [read more]
  • First Republic (FRC) no longer up for sale, FBN says [read more]


4. MOVERS: 

  • Arcturus Therapeutics (ARCT) higher after reporting quarterly results [read more]
  • Enovix Corporation (ENVX) gains after announcing a manufacturing partner and location for its Fab-2 in Malaysia [read more]
  • Kingsoft Cloud (KC) rises in New York after reporting quarterly results and providing Q1 guidance [read more]
  • Bluebird bio (BLUE) and Sharecare (SHCR) lower after reporting quarterly results [read more]
  • SomaLogic (SLGC) falls after reporting quarterly results and providing FY23 guidance [read more]


5. EARNINGS/GUIDANCE: 

  • Cal-Maine Foods (CALM) reported what CEO Sherman Miller described as "a solid performance for the third quarter" [read more]
  • nCino (NCNO) gave fiscal 2024 revenue growth guidance that analysts called "better than feared" [read more]
  • Dave & Buster's (PLAY) reported Q4 comps that Truist said were "strong" [read more]
  • Progress Software (PRGS) reported better-than-expected Q1 earnings and revenue [read more]
  • Conn's (CONN) reported Q4 revenue that topped consensus and said same store sales decreased 21.8% [read more]


INDEXES: 

Near midday, the Dow was up 212.46, or 0.66%, to 32,606.71, the Nasdaq was up 148.75, or 1.27%, to 11,864.83, and the S&P 500 was up 39.37, or 0.99%, to 4,010.64.

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