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5/30/2023 16:05pm
What You Missed On Wall Street On Tuesday

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

  • Nvidia (NVDA) became the sixth U.S. company to reach a market cap of $1 trillion [read more]
  • Apple (AAPL) and Netflix (NFLX) are rumored to be potential bidders for NBA rights, Bloomberg reports [read more]
  • MagnaChip (MX) plans to separate its display and power businesses into separate entities [read more]
  • JBT Corporation (JBT) will sell its AeroTech business to Oshkosh (OSK) for $800M [read more]
  • Tesla (TSLA) CEO Elon Musk's private jet has arrived in Beijing, Reuters reports [read more]

2. WALL STREET CALLS:

  • Ford (F) upgraded to Buy from Hold at Jefferies [read more]
  • BofA upgrades ChargePoint (CHPT) to Buy with shares at all-time lows [read more]
  • Coinbase (COIN) upgraded to Overweight from Neutral at Atlantic Equities [read more]
  • Constellation Brands (STZ) and Boston Beer (SAM) were upgraded to Buy from Neutral at Roth MKM [read more]
  • Wall Street rolled out its ratings of Johnson & Johnson's (JNJ) recent spinoff Kenvue (KVUE) [read more]

3. AROUND THE WEB:

  • Comerica (CMA) is in “serious violation” of the Treasury’s Direct Express program, American Banker says [read more]
  • Intel (INTC) CEO Pat Gelsinger said the company has had “serious issues” in leadership, WSJ reports [read more]
  • Universal Music (UMGNF) is in talks to acquire the music catalog of British band Queen from Disney Music Group (DIS), CNN reports [read more]
  • Goldman Sachs (GS) is preparing for more layoffs, WSJ says [read more]
  • Carl Icahn eyed a restructuring of Icahn Enterprises (IEP) before a recent short-seller report, Semafor says [read more]

4. MOVERS:

  • Equitrans Midstream (ETRN) rises after RBC Capital upgraded the stock to Outperform [read more]
  • Iovance (IOVA) gains after announcing FDA acceptance of its BLA of lifileucel [read more]
  • Tingo Group (TIO) higher after Tingo DMCC completed its first batch of export deals [read more]
  • Nutrien (NTR) falls in New York after Morgan Stanley lowered its price target on the stock [read more]
  • Hims & Hers (HIMS) declines after Piper Sandler lowered its target on the stock [read more]

5. EARNINGS/GUIDANCE:

  • Elbit Systems (ESLT) reported Q1 EPS and revenue that were higher year-over-year [read more]
  • Skyline Champion (SKY) reported Q1 results, with CEO Mark Yost saying the company “delivered strong results” [read more]
  • CureVac (CVAC) reported Q1 revenue that was lower year-over-year [read more]
  • MediWound (MDWD) reported Q1 EPS and revenue that missed consensus [read more]
  • TEN, Ltd. (TNP) reported Q1 results [read more]

INDEXES:

The Dow fell 50.56, or 0.15%, to 33,042.78, the Nasdaq gained 41.74, or 0.32%, to 13,017.43, and the S&P 500 advanced 0.07, or 0.0017%, to 4,205.52.

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