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

1. STOCK NEWS:

General Motors (GM) provided a "beat and raise" report for Q1 and said that it and Samsung SDI (SSNLF) are investing over $3B to build a U.S. battery cell plant [read more]
3M (MMM) reported upbeat Q1 earnings and revenue and also announced restructuring actions, including 6,000 layoffs [read more]
McDonald's (MCD) reported better-than-expected Q1 results, with CEO Chris Kempczinski saying customer demand "remains strong" [read more]
General Electric (GE) reported upbeat Q1 results and narrowed upward its FY23 earnings guidance [read more]
Verizon (VZ) reported mixed Q1 results and provided FY23 earnings and revenue guidance [read more]

2. WALL STREET CALLS:

First Republic (FRC) was downgraded to Sell at Janney Montgomery Scott and at Citi following last night's Q1 report [read more]
Squarespace (SQSP) upgraded to Buy from Neutral at Citi [read more]
Capri Holdings (CPRI) downgraded to Hold from Buy at Jefferies [read more]
Jefferies upgraded XPeng (XPEV) to Hold from Underperform [read more]
BofA double downgraded Day One Biopharmaceuticals (DAWN) to Underperform [read more]

3. AROUND THE WEB:

Netflix (NFLX) to invest $2.5B in South Korea content over the next four years, Yonhap says [read more]
TheRealReal (REAL) is being circled by private equity companies, Puck says [read more]
Gap (GPS) plans new round of job cuts, plans to lay off hundreds, WSJ reports [read more]
Meta (META) will bring in a chip executive from Microsoft (MSFT) to lead its chips effort, The Information reports [read more]
Apple (AAPL) is working on an AI-powered health coaching service, Bloomberg reports [read more]

4. MOVERS:

Morphic Therapeutics (MORF) higher after reporting results from its EMERALD-1 Phase 2a study of MORF-067 and its Q1 results [read more]
Medpace (MEDP) rises after reporting quarterly results [read more]
First Republic (FRC) sinks after earnings and Bloomberg reporting the company is exploring up to $100B of divestitures [read more]
Assetio (ASRT) slides after announcing it will acquire Spectrum (SPPI) in an all-stock and CVR transaction [read more]
UPS (UPS) falls after reporting Q1 results and revising its FY23 revenue view [read more]

5. EARNINGS/GUIDANCE:

Spotify (SPOT) reported Q1 results and provided Q2 guidance [read more]
Gambling.com (GAMB) provided preliminary Q1 revenue, which CEO Charles Gillespie said “exceeded internal forecasts” [read more]
JetBlue (JBLU) CFO Ursula Hurley said the company sees margins near "pre-pandemic levels later in year" and reported Q1 results slightly above consensus [read more]
Tenable Holdings (TENB) reported Q1 results, which Needham called an “uncharacteristic miss” [read more]
Eagle Bancorp (EBMT) reported what CEO Laura Clark said was a”strong first quarter” [read more]

INDEXES:

The Dow fell 344.57, or 1.02%, to 33,530.83, the Nasdaq lost 238.05, or 1.98%, to 11,799.16, and the S&P 500 declined 65.41, or 1.58%, to 4,071.63.