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DIS, PACW, GT...
5/11/2023 16:05pm
What You Missed On Wall Street On Thursday
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Disney (DIS) reported better-than-expected Q2 revenue, though Disney+ paid subscribers fell 2% from the last quarter [read more]
- PacWest Bancorp (PACW) said deposits declined roughly 9.5% during the week ended May 5 [read more]
- Elliott sent a letter to Goodyear Tire (GT) outlining what it calls "the right path forward" [read more]
- Peloton (PTON) is recalling 2.2M exercise bikes due to fall and injury hazards [read more]
- The FDIC has proposed a rule for special assessment on big banks for cost recovery related to recent regional bank failures [read more]
2. WALL STREET CALLS:
- Benchmark and Roth MKM both upgraded Roblox (RBLX) to Buy [Read more]
- Credit Suisse upgraded RingCentral (RNG) to Outperform, but Goldman Sachs downgraded the stock to Neutral [read more]
- Barclays downgraded Northrop Grumman (NOC) to Equal Weight [read more]
- CLSA downgraded Block (SQ) to Underperform from Buy [read more]
- Susquehanna upgrades International Game (IGT) following "impressive execution" [read more]
3. AROUND THE WEB:
- Amazon (AMZN) secures $1B in tax breaks for Oregon data centers, Oregonian reports [read more]
- Uber (UBER) launches flight booking in its U.K. app, FT reports [read more]
- U.S. Transportation Secretary Pete Buttigieg is “concerned” about Tesla’s (TSLA) marketing of its Autopilot system, AP reports [read more]
- Bowlero (BOWL) is under federal investigation for age discrimination, CNBC reports [read more]
- Ratcliffe's bid for 50% of Manchester United (MANU) preferred, Sun reports [read more]
4. MOVERS:
- Absolute Software (ABST) gains after agreeing to be acquired by Crosspoint for $11.50 per share [read more]
- Mangite (MGNI) and SmartRent (SMRT) higher after reporting quarterly results [read more]
- ACV Auctions (ACVA) rises after reporting Q1 results and providing guidance for FY23 and Q2 [read more]
- PerkinElmer (PKI) slides after reporting quarterly results and widening its FY23 guidance [read more]
- Nutrien (NTR) and Trade Desk (TTD) lower after reporting quarterly results [read more]
5. EARNINGS/GUIDANCE:
- Robinhood (HOOD) reported Q1 results, which CEO Vlad Tenev said was a “great start to the year” [read more]
- Tapestry (TPR) raised its FY23 EPS and revenue view [read more]
- AppLovin (APP) delivered Q3 revenue and EPS and also provided guidance for Q2 [read more]
- Yeti (YETI) announced its Q1 results, with CEO Reintjes saying the company is in “a strong position to deliver” its FY23 outlook [read more]
- Unity (U) reported Q1 results, provided guidance for Q2, and narrowed its guidance for FY23 [read more]
INDEXES:
The Dow fell 221.82, or 0.66%, to 33,309.51, the Nasdaq gained 22.06, or 0.18%, to 12,328.51, and the S&P 500 declined 7.02, or 0.17%, to 4,130.62.