Playtika to acquire SuperPlay, Intel says not selling Mobileye: Morning Buzz

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

1. STOCK NEWS:

• Intel (INTC) said it is not currently planning to divest a majority interest in Mobileye (MBLY)
• The EU is starting proceedings to specify Apple’s (AAPL) interoperability obligations under the Digital Markets Act
• Target (TGT) named former PepsiCo (PEP) executive Jim Lee as its next CFO
• Playtika (PLTK) agreed to acquire SuperPlay for $700M upfront and an additional contingent consideration of up to $1.25B
• Darden (DRI) reported downbeat Q1 earnings and reiterated its FY25 earnings outlook

2. WALL STREET CALLS:

• DoorDash (DASH) upgraded to Buy at BTIG following positive checks
• Five Below (FIVE) downgraded to Underweight at JPMorgan
• Barclays initiated coverage of Hertz (HTZ) with an Underweight rating and peer Avis Budget (CAR) with an Equal Weight
• Casey’s General Stores (CASY) downgraded to Underweight at JPMorgan
• H.C. Wainwright upgraded Prelude Therapeutics (PRLD) to Buy

3. AROUND THE WEB:

• GoTo (GTOFF) has signed a five-year cloud infrastructure deal with Alibaba (BABA), which has agreed not to sell down its 7.5% stake in the company any further for the duration of the deal, Bloomberg says
• In a memo sent to employees, 23andMe (ME) CEO Anne Wojcicki said she was “surprised and disappointed” all seven independent directors resigned from the company’s board, CNBC reports
• BHP (BHP) has warned the growth of AI will exacerbate a looming shortage of copper, FT reports
• Tyson Foods (TSN) is facing a lawsuit alleging the company is misleading consumers with claims about its efforts to curb greenhouse gas emissions, NY Times reports
• AT&T (T) has agreed to remove eight miles of lead-covered cables from Lake Tahoe, WSJ says

4. MOVERS:

• Edgewise Therapeutics (EWTX) gains after announcing data on EDG-7500
• MicroStrategy (MSTR) higher after upsizing its $875M note offering
• Plug Power (PLUG) increases after launching its equipment leasing financing platform
• Progyny (PGNY) falls after disclosing the loss of a “significant client”
• Hess Midstream (HESM) lower after announcing a 10M share offering for holders

5. EARNINGS/GUIDANCE:

• Cracker Barrel (CBRL) reported Q4 results and provided guidance for FY25
• Corning (GLW) backed its guidance for Q3
• Steelcase (SCS) reported Q2 results, with CEO Sara Armbruster commenting, “Our business continued to improve this quarter”
• FactSet (FDS) reported Q4 results and provided guidance for FY25
• Endava (DAVA) announced Q4 results, with EPS lower year-over-year

INDEXES:

Near midday, the Dow was up 421.66, or 1.02%, to 41,924.76, the Nasdaq was up 451.57, or 2.57%, to 18,024.87, and the S&P 500 was up 90.81, or 1.62%, to 5,709.07.