Get caught up quickly on the top news and calls moving stocks with these www.tipranks.com/stocks/five’ target= ‘_blank’; rel=’nofollow’>five Top Five lists.
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1. STOCK NEWS:
- Qualcomm (QCOM) reported better-than-expected Q4 results and approved a new $15B stock repurchase authorization
- Lyft (LYFT) reported upbeat Q3 revenue and reiterated its FY24 rides growth guidance
- Moderna (MRNA) reported better-than-expected Q3 results and reiterated its FY24 net product sales guidance
- US Foods (USFD) reported mixed Q3 results and narrowed its FY24 earnings and revenue outlook
- Ralph Lauren (RL) provided a “beat and raise” report for Q2
2. WALL STREET CALLS:
- JPMorgan (JPM) downgraded to Underperform at Baird
- Palantir (PLTR) was downgraded to Hold at Argus on valuation and downgraded at Jefferies as well
- Ford (F) was downgraded at Bernstein, here’s why
- Sarepta (SRPT) upgraded to Overweight at Cantor Fitzgerald
- KeyBanc downgraded Five Below (FIVE) and Dollar Tree (DLTR) to Sector Weight following Donald Trump’s election win
3. AROUND THE WEB:
- Duolingo (DUOL) began its latest conference call with Lily, an AI-driven chatbot, Business Insider says
- Canoo (GOEV) is facing a lawsuit from a supplier for breach of contract related to unpaid work on six electric delivery vans ordered by the U.S. Postal Service, EV reports
- Nissan Motor (NSANY) is going to embark on a turnaround plan that includes cutting 9,000 jobs and reducing global production capacity by a fifth, WSJ says
- Norfolk Southern (NSC) has set off renewed concerns about flaws being missed amid railcar inspections when it notified staff they should spend no more than a minute with each car, AP reports
- AMC Entertainment (AMC) revealed its “GO Plan,” which is a set of major upgrades to seating, projection, and auditoriums over the next few years, Deadline says
4. MOVERS:
- Freshworks (FRSH) increases after reporting Q3 results and authorizing a stock repurchase program of up to $400M
- AppLovin (APP) and Wolverine World Wide (WWW) gain after reporting quarterly results
- Dutch Bros. (BROS) and Emergent BioSolutions (EBS) higher after reporting quarterly results and providing guidance for FY24, respectively
- CommScope (COMM) lower after reported Q3 results, with EPS and revenue missing consensus
- Wolfspeed (WOLF) and Clear Secure (YOU) fall after reporting quarterly results
5. EARNINGS/GUIDANCE:
- Take-Two (TTWO) reported Q2 results and provided guidance for Q3 and FY25
- Elf Beauty (ELF) reported Q2 results and raised its guidance for FY25
- SolarEdge (SEDG) announced Q3 results, with EPS and revenue missing consensus
- Warner Bros. Discovery (WBD) reported Q3 results, with the company stating it is making “strong progress” executing its strategy
- Under Armour (UAA) reported Q2 results, with CEO Kevin Plank commenting that the “performance demonstrates our strategy to reconstitute the Under Armour brand and establish a more premium position in the marketplace is gaining traction”
INDEXES:
Near midday, the Dow was down 6.80, or 0.02%, to 43,723.13, the Nasdaq was up 270.46, or 1.42%, to 19,253.92, and the S&P 500 was up 40.55, or 0.68%, to 5,969.59.
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Read More on JPM:
- JPMorgan, Five Below downgraded: Wall Street’s top analyst calls
- Trump’s Victory Sparks Market Surge: The Winners and Losers of the “Trump Trade”
- JPMorgan downgraded to Underperform from Neutral at Baird
- JPMorgan CEO to remain in role, no plans for Trump administration, Reuters says
- Bank Stocks Surge on Trump Victory Momentum