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Wall Street slides in broad-based selloff on recession worries
By Devik Jain and Ankika Biswas (Reuters) - Wall Street's main indexes slid on Tuesday, led by declines in Meta Platforms and other technology stocks as investors worried about a longer rate-hike cycle... More
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- GitLab (GTLB) surges 20% on better-than-feared results, analysts positive
- Next two months typically the strongest for flows - Bank of America
- Dollar kept aloft by higher Fed rates bets, RBA rate hike lifts Aussie
- NRG Energy (NRG) to Acquire Vivint Smart Home (VVNT) for $12/Share, or $2.8 Billion
- PepsiCo to cut hundreds of jobs at HQ
- Blink Charging (BLNK) announces additions to corporate leadership
- General Electric (GE): Oppenheimer upgrades to Outperform on aviation strength
- Estee Lauder (EL) seen benefiting from China reopening, analyst upgrades to Buy
- Royal Caribbean (RCL) stock drops as JPMorgan cuts, prefers Norwegian
- Electric Era partners with SK Signet to solve demand charges and uptime issues
- BuzzFeed to slash workforce by 12% to cut costs
- European stock futures edge lower; risk-off sentiment prevails
- Signet Jewelers (SIG) jumps after topping earnings, revenue forecasts
- VOLTERRA signs distribution agreements with key importers
- Boston Beer Co. (SAM) downgraded at Deutsche Bank on elevated risk to earnings
- Oil hits lowest since January on creeping economic uncertainty
- Not time to be long large cap banks yet, JPMorgan double upgraded at Morgan Stanley
- First Solar (FSLR) fundamentals to come under increased pressure in 2023 - GLJ Research
- Morgan Stanley's Wilson is a stock seller again as tactical rally plays out
- Exclusive: Musk’s Neuralink faces federal probe, employee backlash over animal tests
- Apple iPhone production impact at Hon Hai could be better than feared - Morgan Stanley
- Activision Blizzard rallies on report Microsoft 'ready to fight' FTC to complete deal
- Tesla (TSLA) cuts December Model Y output at Shanghai plant
- 2023 seen as 'goldilocks' year for airlines, United Airlines upgraded - Morgan Stanley
- Rumors Buzzing Around Wall Street Today
- Today’s important price target changes
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BofA says S&P 500 could drop to 3000 in H123
BofA says S&P 500 could drop to 3000 in H123 before rallying The upcoming 2023 year is likely to be a year of two halves as far as the equity market is concerned, according... More
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Apple (AAPL) improving wait times suggest supply chain headwinds easing - UBS
UBS analyst David Vogt said in a note to clients Tuesday that according to its Evidence Lab data, Apple's (NASDAQ: AAPL) improving wait times suggest the supply chain... More
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Deutsche Bank goes against consensus, sees S&P 500 rallying to 4500
The S&P 500 could extend its third bear market rally to 4500 in the first half of the next year, according to Deutsche Bank strategists led by Marion Laboure.While several analysts, including Bank of... More
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Textron (TXT) jumps on FLRAA contract award - deal will 'drive meaningful contributions'
Textron (NYSE: TXT) announced Tuesday that its subsidiary, Bell Textron Inc, has been awarded the development contract for the US Army's Future Long-Range Assault Aircraft (FLRAA)... More
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Positioning suggests 'limited' investor conviction behind recent rally - Citi
Citis Chris Montagu believes the recent rally in equities was fueled by extremely bearish positioning. While some analysts suggested that the market bottom is in, Montagu says that weak positioning flows recorded last week... More
Tuesday, December 06, 2022 1:22 PM EST
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Latest StreetInsider Headlines
- 01:21 PM
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- 01:20 PM
- 01:20 PM
- 01:20 PM JetBlue Announces Science-Based Emissions Reduction Target and Strategy To Achieve Net Zero by 2040
- 01:16 PM EV Maker VinFast Auto Ltd. files U.S. IPO
- 01:15 PM Blink Charging (BLNK) announces additions to corporate leadership
- 01:15 PM Genuine Foods Named to Inc.'s 2022 Best in Business List in Food Insecurity Category
- 01:15 PM InventHelp Inventor Develops Sippy Cup for Administering Medicine (FJK-204)
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13Fs
- Clarivate (CLVT) gains on new Elliott stake, but change is already taking place
- Clarivate (CLVT) Gains on Elliott Stake
- David Einhorn's Greenlight Capital re-adds Intel, builds up energy positions
Accesswire
- JetBlue Announces Science-Based Emissions Reduction Target and Strategy To Achieve Net Zero by 2040
- Patriot Transportation Holding, Inc. Announces Results for the Fourth Quarter and Fiscal Year 2022
- Perk Labs Announces Strategic Initiative and Cost Realignment
Analyst Comments
- Boston Beer Co. (SAM) downgraded at Deutsche Bank on elevated risk to earnings
- Apple (AAPL) improving wait times suggest supply chain headwinds easing - UBS
- St. James's Place plc (STJ:LN) (STJPF) PT Raised to GBP12.95 at BofA Securities
Analyst PT Change
- NRG Energy (NRG) PT Lowered to $40 at Seaport Global Securities
- Boston Beer Co. (SAM) downgraded at Deutsche Bank on elevated risk to earnings
- St. James's Place plc (STJ:LN) (STJPF) PT Raised to GBP12.95 at BofA Securities
Board Changes
- Fossil Group (FOSL) Appoints Susie Coulter to Board of Directors
- Hempacco Co (HPCO) Names Miki Stephens to Board
- Albireo Pharma (ALBO) Names Drs. Paul Streck and Craig Hopkinson to Board
Business Wire
- Simple tool on ICUS app predicts patient benefit from enhanced ultrasound scan
- Adobe to Announce Q4 & FY2022 Earnings Results & Host Conference Call Dec. 15
- A Frosty Villain Returns to Hearthstone® in March of the Lich King™, the Undeadly New Expansion Live Now
Commodities
- U.S. crude output and petroleum demand to rise in 2022 - EIA
- Oil continues tumble, losing 6% on week on inflation, Fed worries
- Crude oil slips; Russian oil price cap in force
Corporate News
- Blink Charging (BLNK) announces additions to corporate leadership
- Apple (AAPL) Upgrades App Store Pricing, Adding 700 New Price Points
- Apple (AAPL) upgrades App Store pricing, adding 700 new price points - WSJ
Cryptocurrency
- Signature Bank (SBNY) to exit $8-$10 billion of crypto deposits - Bloomberg
- Bitcoin: $250K as early as 2023? - Gold rush mood reaches financial institutions
- Silvergate Capital (SI) CEO issues letter, says they conducted extensive due diligence on FTX and Alameda Research
Dividends
- Friedman Industries (FRD) Declares $0.02 Quarterly Dividend; 0.9% Yield
- PACCAR (PCAR) Raises Qtr Dividend to $0.25, Post Stock Split
- PACCAR (PCAR) Declares $2.80 Special Dividend; 2.7% Yield
Downgrades
- Boston Beer Co. (SAM) downgraded at Deutsche Bank on elevated risk to earnings
- Not time to be long large cap banks yet, JPMorgan double upgraded at Morgan Stanley
- BofA Securities Downgrades Zurich Insurance Group AG (ZURN:SW) (ZURVY) to Neutral
Earnings
- Signet Jewelers (SIG) jumps after topping earnings, revenue forecasts
- IES Holdings (IESC) Reports Q4 EPS of $0.95
- Couchbase, Inc. (BASE) Tops Q3 EPS by 11c, Offers Guidance
Economic Data
- U.S. trade deficit widens in October on weak exports
- Trade Balance (Oct) -$78.2B vs -$80B Expected
- U.S. factory orders beat expectations in October
Equity Offerings
- Axon (AXON) Announces Proposed Convertible Senior Notes Offering
- Soluna Holdings (SLNH) Announces Registered Direct Offering
- Karyopharm Therapeutics (KPTI) Announces $165 Million Private Placement
FDA
- Cassava Sciences (SAVA) Announces Completion of Dosing in Open-label Study of Simufilam for Alzheimer’s Disease
- NeuroOne Medical (NMTC) Successfully Completes Feasibility Study with its OneRF Ablation System
- Sorrento Therapeutics (SRNE) Received FDA Clearance to Initiate Trial of Next Generation Covid Vaccine
Fed
- U.S. Fed proposes framework for how banks manage climate-related financial risk
- Fed's Evans sees slower rate hike pace, "slightly higher" peak rate
- Evans Says Fed Rates May Peak At A Slightly Higher Level - Bloomberg
Globe Newswire
- Identity Management Powerhouse Fortior Solutions Shines in Fourth Quarter: President & CEO Jim Robell Named 2022 ASTORS’ Person of the Year Among Other Awards and Company Highlights
- RadNet, Inc. to Present at the Sidoti & Company December 2022 Small-Cap Virtual Conference on Wednesday, December 7th
- FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND
Guidance
- Signet Jewelers (SIG) jumps after topping earnings, revenue forecasts
- Doma Holdings (DOMA) to implementing a strategic initiative and corresponding reduction in workforce
- Paramount Global (PARA) CEO: Expect Q4 Advertising 'Coming In A Bit Below' Q3- Bloomberg
Hedge Funds
- Hedge fund Engine Capital urges Univar to consider sale, other options
- Engine Capital Sends Letter to the Board of Directors of Univar (UNVR) Regarding the Need to Initiate a Formal Review of Strategic Alternatives
- block.one files 13G showing 7.5% stake in Silvergate Capital (SI)
Insiders' Blog
- 7 Things to Know About Allbirds' (BIRD) Upcoming $2 Billion IPO
- HireRight (HRT) IPO: 9 Things to Know About the Upcoming Offering
- Udemy (UDMY) IPO: 7 Things to Know About Upcoming $4 Billion IPO
IPOs
- EV Maker VinFast Auto Ltd. files U.S. IPO
- E-commerce tech startup Rokt valued at $2.4 billion in latest funding amid plans for IPO
- NYSE president says IPO proceeds fall more than 90%
Market Check
- S&P 500 Hits Low, Down 1.4%, Nasdaq Down 1.8%
- Nasdaq Extends Decline, Down 1.4%, S&P 500 Down 0.85%
- Nasdaq Declines 0.45%, S&P 500 Down 0.3%
Mcap MediaWire
- AmpliTech Group, Inc. Announces Closing of Underwriters’ Option to Purchase Additional Shares of Common Stock in Connection with its Underwritten Public Offering
- Top Minds Back Bitcoin for a Fresh Leg (NASDAQ: BTBT) (NASDAQ: MSTR) (OTC US: ISWH) (NASDAQ: OSTK)
- How to Play the Crypto Shakeout (NYSE: SQ) (NASDAQ: OSTK) (OTC US: ISWH) (NASDAQ: BTBT)
Mergers and Acquisitions
- Aggregate Is Said In Talks To Merge Vic Unit With Burtech Acquisition (BRKH)- Bloomberg
- FTC Issues Subpoenas Over One Medical (ONEM), Amazon (AMZN) Deal: Dealreporter - Bloomberg
- DigitalBridge Group (DBRG) and IFM Investors Complete $11 Billion Take-Private of Switch
New Coverage
- Equirus Starts UTI Asset Management Co Ltd (UTIAM:IN) at Long (1)
- CG Capital Starts GeoVax Labs Inc. (GOVX) at Outperform
- UBS Starts United Therapeutics Corp. (UTHR) at Buy; 'Tyvaso diversified growth ahead'
Newsfile
- Silver Bullet Mines Closes Final Tranche of Financing
- Nevada Silver Corporation Announces Filing of Technical Report for Emily Manganese Project
- Nextleaf Partners with NOYA Cannabis for the Canadian Launch of Cookies "C" Branded Vapes
Press Releases
- FDA Provides Update on External Evaluation to Strengthen Agency's Human Foods Program
- Identity Management Powerhouse Fortior Solutions Shines in Fourth Quarter: President & CEO Jim Robell Named 2022 ASTORS’ Person of the Year Among Other Awards and Company Highlights
- JetBlue Announces Science-Based Emissions Reduction Target and Strategy To Achieve Net Zero by 2040
Private Company News
- A 'mass exodus', employees locked out... Twitter is in chaos after Musk's ultimatum
- Carlyle Group (CG) in Talks To Bid For Heritage Provider - Reuters
- Exclusive-Carlyle seeks to line up bid for urgent care provider Heritage -sources
PRNewswire
- FDA Provides Update on External Evaluation to Strengthen Agency's Human Foods Program
- Genuine Foods Named to Inc.'s 2022 Best in Business List in Food Insecurity Category
- Smile Compostable Solutions® Home Compostable Coffee Pods Compatible with Nespresso Original Brewers Now Available for Private Label Launch
Reuters
- U.S. crude output and petroleum demand to rise in 2022 - EIA
- U.S. lawmakers ease proposed curbs on Chinese chips amid corporate pushback
- Meta cannot run ads based on personal data, EU privacy watchdog rules - source
SEC Filings
- Form DEF 14A COSTCO WHOLESALE CORP For: Aug 28
- Form 497K BLACKROCK FUNDS
- Form 6-K Empower Clinics Inc. For: Nov 28
SPAC
- Aggregate Is Said In Talks To Merge Vic Unit With Burtech Acquisition (BRKH)- Bloomberg
- Tigo Energy, Inc. to List on NASDAQ Through Business Combination with Roth CH Acquisition IV Co. (ROCG)
- Infrared Cameras to List on NASDAQ Through Business Combination with SportsMap Tech Acquisition Corp. (SMAP)
Upgrades
- Not time to be long large cap banks yet, JPMorgan double upgraded at Morgan Stanley
- Morgan Stanley Upgrades Dabur India Ltd. (DABUR:IN) to Overweight
- Estee Lauder (EL) seen benefiting from China reopening, analyst upgrades to Buy
