Dollar General reports mixed Q3, American Air raises Q4 outlook: Morning Buzz

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

1. STOCK NEWS:

• Dollar General (DG) reported mixed Q3 results and narrowed its FY24 earnings guidance
• Five Below (FIVE) provided a “beat and raise” report for Q3
• American Airlines (AAL) raised its Q4 adjusted earnings guidance, citing an improved pricing and revenue environment
• Southwest (LUV) raised its Q4 RASM outlook, adding that it is “actively” pursuing its fleet strategy
• Fiserv (FI) CEO Frank Bisignano has been nominated as Social Security Commissioner

2. WALL STREET CALLS:

• Morgan Stanley upgraded HP Enterprise (HPE) to Overweight
• Seaport Research upgraded American Airlines (AAL) to Buy
• Wolfe downgraded Ford (F) to Underperform on cyclical pressures, cost outlook
• Shift4 Payments (FOUR) downgraded to Hold at Benchmark after NASA nomination for CEO
• Disney (DIS) initiated with neutral view at Jefferies

3. AROUND THE WEB:

• Meta (META) is shifting part of the development and design of mixed reality headsets to Chinese manufacturer Goertek and moving half of production to Vietnam from China, The Information reports
• Aviva (AVVIY) has raised its takeover bid for Direct Line bid to GBp 216 per share or $4.4B, Bloomberg says
• IBM (IBM) was a beneficiary of Ken Leech’s alleged “cherry-picking” scheme referenced in criminal charges against the bond manager brought by the Department of Justice, Bloomberg reports
• Congara Brands (CAG) is looking to sell its canned pasta brand Chef Boyardee, Reuters says
• The U.K. will start offering Eli Lilly’s (LLY) weight loss drug Mounjaro next year, but will restrict the medicine to people with the greatest need as the country tries to adapt to new ways of treating obesity amid surging demand, STAT reports

4. MOVERS:

• Verint (VRNT) gains after reporting quarterly results and backing its FY25 guidance
• Navitas Semiconductor (NVTS) increases after announcing it will showcase several breakthroughs for AI data centers, EVs, and mobile technology at CES 2025
• Hut 8 (HUT) higher after launching a $250M stock repurchase program
• ACM Research (ACMR) falls after Craig-Hallum downgraded the stock to Hold
• Synopsys (SNPS) lower after reporting Q4 results, providing guidance for FY25, and announcing it expects its acquisition with Ansys (ANSS) to close in 1H25

5. EARNINGS/GUIDANCE:

• SentinelOne (S) reported Q3 results and raised its guidance for FY25
• American Eagle (AEO) reported Q3 results, with EPS beating consensus
• Eventbrite (EB) backed its guidance for Q4 and FY24
• Signet Jewelers (SIG) reported Q3 results, with EPS and revenue missing consensus
• Build-A-Bear (BBW) reported Q3 results and provided guidance for FY24

INDEXES:

Near midday, the Dow was down 0.25%, or 112.43, to 44,901.61, the Nasdaq was up 0.11%, or 21.48, to 19,756.60, and the S&P 500 was up 0.025%, or 0.97, to 6,088.02.