Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
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1. STOCK NEWS:
- UnitedHealth (UNH) halted its investor day after Brian Thompson, CEO of the company’s insurance division UnitedHealthcare, was fatally shot
- Salesforce (CRM) reported mixed Q3 results and provided Q4 revenue guidance
- Eli Lilly (LLY) says Zepbound is superior to Novo’s (NVO) Wegovy weight loss in a head-to-head trial
- General Motors (GM) expects more than $5.3B in charges related to its China business
- Campbell’s (CPB) reported upbeat Q1 results and said that CEO Mark Clouse is leaving the company to become team president of the NFL’s Washington Commanders
2. WALL STREET CALLS:
- Merck (MRK) upgraded to Buy at HSBC
- Wolfe starts GE Vernova (GEV) at Outperform amid accelerating electricity demand
- Needham predicts Roku (ROKU) will be acquired for “big premium” in 2025
- Pure Storage (PSTG) upgraded to Overweight from Neutral at Piper Sandler after earnings
- Needham downgrades ACM Research (ACMR) after U.S. bans subsidiaries
3. AROUND THE WEB:
- Apple (AAPL) is using Amazon Web Services’ (AMZN) custom AI chips for services, CNBC reports
- Sanofi (SNY) intends to spend about $1.05B building a new insulin manufacturing base in China, WSJ reports
- NXP Semiconductors (NXPI) and a TSMC (TSM) affiliate are discussing an expansion of their $7.8B Singapore venture, Bloomberg says
- Microsoft (MSFT) is facing a $1.27B dispute in the U.K. over how it charges customers who purchase cloud services that rival its Azure, WSJ reports
- The EU is considering stern measures on the growing flood of packages from Asian online retailers including PDD‘s (PDD) Temu and Shun, FT says
4. MOVERS:
- Cross Country Healthcare (CCRN) gains after announcing it will be acquired by Aya Healthcare for $18.61 per share
- Pure Storage (PSTG) increase after reporting Q3 results and providing guidance for Q4 and FY25
- Janux Therapeutics (JANX) higher after announcing a $300M stock offering
- Torrid (CURV) falls after reporting Q3 results and cutting its guidance for FY24
- GXO Logistics (GXO) lower after announcing CEO Malcolm Wilson will retire in 2025
5. EARNINGS/GUIDANCE:
- Foot Locker (FL) reported Q3 results and cut its guidance for FY24
- Hormel Foods (HRL) reported Q4 results, with EPS and revenue in-line with consensus
- Dollar Tree (DLTR) reported Q3 results, with EPS and revenue beating consensus
- Marvell (MRVL) reported Q3 results, with CEO Matt Murphy commenting that “exceptional performance in the third quarter, and our strong forecast for the fourth quarter, are primarily driven by our custom AI silicon programs”
- Chewy (CHWY) reported Q3 results and raised its guidance for FY24
INDEXES:
Near midday, the Dow was up 0.51%, or 229.70, to 44,935.23, the Nasdaq was up 0.96%, or 187.48, to 19,668.40, and the S&P 500 was up 0.40%, or 24.42, to 6,074.30.
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Read More on AAPL:
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- Apple call buyer realizes 80% same-day gains
- Apple uses Amazon’s custom AI chips, CNBC reports
- Apple (AAPL) Faces $1B Class Action Lawsuit Over App Store Fees in U.K.
- Dow Jones Drops amid New Economic Data
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
