Disney reports Q4 beat, Capri-Tapestry call off deal: Morning Buzz

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 Q4 results and provided adjusted earnings guidance for FY25, FY26, and FY27
• Cisco (CSCO) provided a “beat and raise” report for Q1
• Capri Holdings (CPRI) announced the (TPR)
• Sally Beauty (SBH) reported upbeat Q4 earnings and revenue and provided Q1 and FY25 revenue guidance
• Bilibili (BILI) reported upbeat Q3 results and announced a $200M share repurchase program

2. WALL STREET CALLS:

• Campbell (CPB) upgraded to Overweight at Piper Sandler on improving volumes, valuation
• Barclays upgraded American Airlines (AAL) to Equal Weight on fading leverage
• Blink Charging (BLNK) downgraded at UBS, here’s why
• Plug Power (PLUG) downgraded to Neutral at BTIG
• Papa John’s (PZZA) downgraded to Sector Weight at KeyBanc

3. AROUND THE WEB:

• SoftBank’s (SFTBY) telecom unit plans to build an AI supercomputer in Japan using Nvidia’s (NVDA) DGX B200 platform, Bloomberg reports
• A group of 13 former TSMC (TSM) staff have filed a lawsuit against the company in California over an alleged “discriminatory scheme” that favors Taiwanese foreign workers at its U.S. plants, Forbes reports
• Spotify (SPOT) plans to pay incentives to video creators who hit certain viewing thresholds and, in January, let Premium subscribers view videos without ads, WSJ reports
• Key Nvidia (NVDA) and Apple (AAPL) suppliers like Foxconn (HNHPF) are ready to boost their U.S. investments quickly should there be any change in trade policies following the re-election of Donald Trump as President, Nikkei reports
• Amazon’s (AMZN) One Medical telehealth service is adding a new option that will put it in direct competition with digital health company Hims & Hers (HIMS), MH reports

4. MOVERS:

• DLocal (DLO) and NextNav (NN) increase after reporting quarterly results
• Omeros (OMER) higher after Rodman & Renshaw initiated coverage of the stock with a Buy rating
• MiMedx (MDXG) gains after providing an update on its LCDs regarding its skin substitute grafts/cellular and tissue-based products
• 3D Systems (DDD) lower after reporting preliminary Q3 results
• Zeekr (ZK) falls in New York after entering into strategic integration transactions with Geely entities

5. EARNINGS/GUIDANCE:

• Advance Auto Parts (AAP) reported Q3 results and cut its guidance for FY24
• Cracker Barrel (CBRL) provided guidance for Q1 and FY25, with CEO Julie Masino commenting, “Our fiscal year is off to a strong start”
• FactSet (FDS) reaffirms FY25 guidance and provided its new medium-term outlook
• Crown Electrokinetics (CRKN) reported Q3 results and provided guidance for Q4
• Gambling.com (GAMB) reported Q3 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was down 91.74, or 0.21%, to 43,866.45, the Nasdaq was down 46.93, or 0.24%, to 19,183.79, and the S&P 500 was down 15.57, or 0.26%, to 5,969.81.