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HPQ, HPE, AAL...
5/31/2023 11:05am
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:

  • HP Inc. (HPQ) reported better-than-expected Q2 earnings and narrowed its FY23 EPS guidance [read more]
  • HP Enterprise (HPE) provided a "beat and raise" report for Q2 [read more]
  • American Airlines (AAL) boosted its Q2 adjusted earnings guidance and maintained its FY23 earnings outlook [read more]
  • Advance Auto Parts (AAP) reported downbeat Q1 results, with CEO Tom Greco saying the quarter was below his expectations [read more]
  • Franklin Resources (BEN) to acquire Putnam Investments from Great-West Lifeco [read more]

2. WALL STREET CALLS:

  • Avis Budget (CAR) upgraded to Buy from Hold at Deutsche Bank [read more]
  • Chevron (CVX) upgraded to Neutral from Underweight at JPMorgan [read more]
  • Ambarella (AMBA) downgraded to Sector Weight from Overweight at KeyBanc [read more]
  • Goldman Sachs initiated Six Flags (SIX) with a Sell rating and amusement park peer SeaWorld (SEAS) with a Buy [read more]
  • BTIG upgraded Q2 Holdings (QTWO) to Buy from Neutral [read more]

3. AROUND THE WEB:

  • Twilio (TWLO) has been urged by activist investor Legion Partners to consider making changes to its board, Information reports [read more]
  • Nvidia (NVDA) CEO Jensen Huang said he is open to a partnership with Intel (INTC), DigiTimes says [read more]
  • Goldman’s (GS) global head Dina Powell McCormick is leaving the firm, WSJ reports [read more]
  • GreenPower Motor (GP) has been sued by one of its “largest customers,” White Diamond says [read more]
  • Families of the victims of a Boeing (BA) 737 MAX crash in 2019 can seek compensation, WSJ says [read more]

4. MOVERS:

  • Xylem (XYL) rises after Baird upgraded the stock to Outperform [read more]
  • Teck Resources (TECK) higher in New York after Bloomberg reported Glencore (GLNCY) is closer to increasing its bid for the company [read more]
  • Verizon (VZ) up after announcing $145.7M digital modernization contract with USPS [read more]
  • Eldorado Gold (EGO) lower in New York after it announced a C$135M bought deal financing [read more]
  • Bumble (BMBL) falls after Evercore ISI said President Tariq Shaukat stepping down is “incrementally negative” [read more]

5. EARNINGS/GUIDANCE:

  • Ambarella (AMBA) reported Q1 results and provided guidance for Q2 [read more]
  • Box (BOX) raised its FY24 outlook and provided Q2 guidance [read more]
  • Capri Holdings (CPRI) reported Q4 results and provided FY24 guidance, with CEO John Idol saying the company “achieved several milestones” and that he is “encouraged by the strong trends in Asia” [read more]
  • Hovnanian (HOV) reported Q2 results and provided guidance, with CEO Ara Hovnanian saying he is “pleased” with the company’s performance [read more]
  • Sportsman’s Warehouse (SPWH) reported Q1 results and provided guidance for Q2 [read more]

INDEXES:

Near midday, the Dow was down 241.60, or 0.73%, to 32,801.18, the Nasdaq was down 88.92, or 0.68%, to 12,928.50, and the S&P 500 was down 31.42, or 0.75%, to 4,174.10.

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