Uber said to consider Expedia bid, CSX posts Q3 miss: Morning Buzz

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

1. STOCK NEWS:

• Uber (UBER) has explored a potential bid for Expedia (EXPE), FT reports
• CSX (CSX) reported lower-than-expected Q3 earnings and revenue
• TSMC (TSM) reported upbeat Q3 results and provided Q4 revenue guidance
• Blackstone (BX) reported better-than-expected Q3 results
• Zuora (ZUO) agreed to be acquired by Silver Lake and GIC for $10 per share in cash

2. WALL STREET CALLS:

• Daiwa downgraded Uber (UBER) to Neutral following outperformance since the Tesla (TSLA) “robotaxi” event 
• Guggenheim upgraded Enphase (ENPH) to Neutral with worst behind company
• Guggenheim downgraded SolarEdge (SEDG) to Sell on Europe, cash challenges
• Fortinet (FTNT) downgraded to Underperform at Mizuho
• Bernstein initiated coverage of Eli Lilly (LLY) with an Outperform rating

3. AROUND THE WEB:

• Apple’s (AAPL) first chief people officer, Carol Surface, is leaving the company after less than two years, Bloomberg says
• Nike (NKE) is getting ready for a global push for its outdoor business, Bloomberg reports
• Meta (META) has laid off employees across multiple teams, including employees working on Reality Labs, Instagram, and WhatsApp, TechCrunch says
• Sanofi (SNY) is in discussions with the French government to address concerns officials have raised over the potential sale of a controlling stake in Opella to Clayton Dubilier & Rice, WSJ reports
• Intel’s (INTC) China unit says it has always prioritized product safety and quality after the Cybersecurity Association of China called for a security review of the U.S. chipmaker’s products sold in China, Reuters reports

4. MOVERS:

• Gevo (GEVO) higher after securing a conditional commitment for a loan guarantee with disbursements totaling $1.46B from the U.S. DOE LPO
• Iridium (IRDM) increases after reporting Q3 results and revising its FY24 guidance
• Amicus (FOLD) gains after announcing it entered into a License Agreement with Teva (TEVA)
• Lucid Group (LCID) falls after announcing a 262.447M share offering
• Liberty Energy (LBRT) lower after reporting Q3 results and providing guidance for Q4

5. EARNINGS/GUIDANCE:

• Elevance Health (ELV) reported Q3 results and cut its guidance for FY24
• Travelers (TRV) reported Q3 results, with EPS and revenue beating consensus
• GameSquare (GAME) provided guidance for Q3 and raised its outlook for FY24
• Webster Financial (WBS) reported Q3 results, with EPS missing consensus
• ManpowerGroup (MAN) reported Q3 results, with EPS and revenue in-line with consensus

INDEXES:

Near midday, the Dow was up 130.34, or 0.30%, to 43,208.04, the Nasdaq was up 114.69, or 0.62%, to 18,481.77, and the S&P 500 was up 20.97, or 0.36%, to 5,863.44.