Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
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1. STOCK NEWS:
- Nvidia (NVDA) reported Q3 results that beat consensus and provided Q4 revenue guidance
- Deere (DE) reported better-than-expected Q3 earnings and revenue
- Alphabet’s (GOOG) Google said a DOJ proposal for “dramatic changes” to Google services “would break a range” of products
- Snowflake (SNOW) reported upbeat Q3 results and agreed to acquire Datavolo
- Starbucks (SBUX) is exploring strategic partnerships in China, Nikkei Asia reports
2. WALL STREET CALLS:
- William Blair downgraded Ulta Beauty (ULTA) on optimistic estimates into 2025
- Raymond James upgraded On Holding (ONON) to Strong Buy on strong momentum
- Palo Alto Networks (PANW) upgraded to Buy at Rosenblatt after “strong” Q1 performance
- Goldman Sachs downgraded XPeng (XPEV) to Neutral
- Adient (ADNT) downgraded to Neutral at BofA ahead of “flat to down” FY25
3. AROUND THE WEB:
- Alibaba (BABA) will merge its domestic and international ecommerce operations into a single ecommerce unit amid steep competition at home and abroad, Nikkei Asia reports
- General Mills (GIS) is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, Bloomberg reports
- Boeing (BA) CEO Kelly Ortberg delivered a message to employees warning the company faces significant cultural challenges and cannot afford further missteps, WSJ says
- Nu Holdings (NU) is considering plans to shift its legal base to the U.K., Bloomberg reports
- McDonald’s (MCD) is working on a new ‘McValue” approach to 2025 that involves keeping a $5 value menu offer on the menu for the first half of the year, CNBC says
4. MOVERS:
- Innovid (CTV) increases after announcing it will be acquired by Mediaocean for $3.15 per share
- Nano Nuclear (NNE) gains after naming John Vonglis as the executive director of global government affairs
- VNET Group (VNET) higher in New York after reporting Q3 results and raising its guidance for FY24
- Kura Oncology (KURA) lower after entering a global strategic collaboration with Kyowa Kirin (KYKOF)
- ZIM Integrated (ZIM) falls in New York after Fearnley downgraded the stock to Sell from Hold
5. EARNINGS/GUIDANCE:
- Atkore (ATKR) reported Q4 results and provided guidance for Q1 and FY25
- BJ’s Wholesale (BJ) reported Q3 results, with CEO Bob Eddy commenting that the results “demonstrate the combination of great value and strong execution”
- Palo Alto Networks (PANW) reported Q1 results and raised its outlook for FY25
- Jack in the Box (JACK) reported Q4 results, with CEO Darin Harris commenting, “I am very pleased we achieved our gross opening targets for both Jack in the Box and Del Taco in fiscal 2024”
- Cerence (CRNC) reported Q4 results, with EPS and revenue beating consensus
INDEXES:
Near midday, the Dow was up 0.78%, or 340.05, to 43,748.52, the Nasdaq was down 0.32%, or 60.32, to 18,905.83, and the S&P 500 was up 0.28%, or 16.78, to 5,933.89.
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Read More on BJ:
- BJ’s Wholesale Club Earnings: Strong Q3 EPS Carries BJ Stock Higher
- Morning Movers: Nvidia turns green, BJ’s Wholesale rises after earnings
- BJ’s Wholesale Q4 guidance may limit stock upside, says Citi
- Target price target lowered to $130 from $165 at Evercore ISI
- BJ’s Wholesale narrows FY24 adjusted EPS view to to $3.90-$4.00 from $3.75-$4.00
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
