Nvidia to replace Intel on DJIA, Berkshire reports Q3 results: Morning Buzz

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

1. STOCK NEWS:

• Nvidia (NVDA) was selected to replace Intel (INTC) on the Dow Jones Industrial Average
• Air Transport Services (ATSG) agreed to be acquired by Stonepeak for $3.1B in cash
• Berkshire Hathaway (BRK.A) reported Q3 operating earnings and revenue
• Marriott (MAR) reported lower-than-expected Q3 results and cut its FY24 adjusted earnings guidance
• Talen (TLN) shares (AMZN) data center connected to the Susquehanna nuclear power plant in Pennsylvania

 2. WALL STREET CALLS:

• Roblox (RBLX) upgraded to Overweight at Morgan Stanley
• Peloton (PTON) double upgraded to Buy at BofA
• Norwegian Cruise Line (NCLH) upgraded to Buy at Argus on higher occupancy, pricing
• Booz Allen (BAH) downgraded at Jefferies, here’s why
• Fiverr (FVRR) downgraded to Neutral at BTIG

3. AROUND THE WEB:

• U.S. regulators rejected a proposal to let Amazon (AMZN) buy nuclear power for AWS data centers, Reuters reports
• Volkswagen (VWAGY) CEO Oliver Blume said the planned cost-cutting program was unavoidable, Reuters reports
• Microsoft (MSFT) intends to spend roughly $10B between 2023 and the end of this decade utilizing CoreWeave’s (CORZ) data centers to run AI models, Information reports
• Blackstone (BX) is in advanced talks to acquire Retail Opportunity Investments (ROIC), Reuters reports
• KKR (KKR) is in talks with Thames Water and its advisers about participating in a $3.9B share sale which forms part of a wider recapitalization plan, Sky News says

4. MOVERS:

• Integra Lifesciences (IART) increases after announcing Mojdeh Poul will succeed Jan De Witte as CEO
• Ballard Power (BLDP) gains in New York after announcing a purchase order to supply 200 fuel cells to New Flyer, a subsidiary of NFI Group (NFYEF)
• Yum China (YUMC) higher in New York after reporting Q3 results and reaffirming its guidance for FY24
• Centrus Energy (LEU) lower after announcing a $350M stock offering
• BioCryst (BCRX) falls after reporting Q3 results and providing guidance for FY24

5. EARNINGS/GUIDANCE:

• Fox Corp. (FOXA) reported Q1 results, with EPS and revenue beating consensus
• Franklin Resources (BEN) report preliminary Q4 results, with EPS missing consensus
• New York Times (NYT) reported Q3 results, with CEO Meredith Levien commenting, “The third quarter was another strong one for The Times”
• Chemours (CC) reported Q3 results and provided guidance for Q4
• DigitalOcean (DOCN) reported Q3 results and provided guidance for Q4, FY24, and FY25

INDEXES:

Near midday, the Dow was down 375.82, or 0.89%, to 41,676.37, the Nasdaq was down 59.32, or 0.33%, to 18,180.60, and the S&P 500 was down 24.65, or 0.43%, to 5,704.15.