DOJ may push for breakup of Google: Morning Buzz

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

1. STOCK NEWS:

• The DOJ is considering “remedies” for Google (GOOGL) following an antitrust ruling, though the company called such proposals “radical”
• Boeing (BA) has withdrawn its offer to the union representing striking factory workers
• Rio Tinto (RIO) agreed to acquire Arcadium Lithium (ALTM) for $5.85 per share
• Newmont (NEM) will divest Akyem for up to $1B
• Amazon Pharmacy (AMZN) plans to expand Same-Day Delivery of medications in 2025

2. WALL STREET CALLS:

• Loop Capital upgraded Home Depot (HD) and Lowe’s (LOW) to Buy
• Norwegian Cruise Line (NCLH) upgraded at Citi, here’s why
• FactSet (FDS) downgraded to Sell at Redburn Atlantic
• Reddit (RDDT) initiated with bullish view at Jefferies
• Carvana (CVNA) price target raised to $210 at BofA and to $230 at JPMorgan

3. AROUND THE WEB:

• Samsung (SSNLF) as removed the Galaxy Z Fold2 from its list of devices that will receive security updates, Ars Technica reports
• CVS Health (CVS) is demanding FTC Chairwoman Khan and two other commissioners to excuse themselves from a lawsuit accusing the company and others of boosting their own profits while inflating insulin costs for Americans, CNBC reports
• Chevron (CVX) is in discussions to sell its east Texas natural gas assets to Tokyo Gas (TKGSY), FT says
• Pfizer (PFE) CEO intends to hold talks with Starboard, FT reports
• Tesla’s (TSLA) “robovan” may be shown alongside “butterfly” door robotaxi, Bloomberg says

4. MOVERS:

• Astera Labs (ALAB) higher after introducing new portfolio of fabric switches
• EVgo (EVGO) increases after RBC doubled its price target on the stock
• Zeta Global (ZETA) raises after it entered into an agreement to acquire LiveIntent
• Robinhood (HOOD) falls after CEO Tenev sold 250,000 shares
• Capricor (CAPR) declines after announcing it has initiated its rolling submission process with the U.S. FDA for a BLA seeking full approval for dermiocel

5. EARNINGS/GUIDANCE:

• TSMC (TSM) reported September revenue
• Helen of Troy (HELE) reported Q2 results and reaffirmed its guidance for FY25
• Nisun International (NISN) provided guidance for 1H24
• Byrna Technologies (BYRN) reported Q3 results, with EPS missing consensus
• ChipMOS (IMOS) reported Q3 results, with revenue higher year-over-year

INDEXES:

Near midday, the Dow was up 369.11, or 0.88%), to 42,449.48, the Nasdaq was up 89.78, or 0.49%, to 18,272.70, and the S&P 500 was up 34.52, or 0.60%, to 5,785.65.