What You Missed On Friday
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Apple (AAPL) reported upbeat Q1 results, with CEO Tim Cook calling it the company's "best quarter ever"
- Chevron (CVX) reported downbeat Q4 earnings while Exxon Mobil (XOM) reported upbeat Q4 earnings per share
- Intel (INTC) reported upbeat Q4 results but provided a lower-than-expected outlook for Q1
- Vertex Pharmaceuticals' (VRTX) non-opioid Journavx was approved for pain treatment by the FDA
- White House Press Secretary Karoline Leavitt said that tariffs on goods from Canada, Mexico, and China are set to begin February 1, Bloomberg reports
2. WALL STREET CALLS:
- Hershey (HSY) downgraded to Underweight from Neutral at Piper Sandler
- BofA downgraded Comcast (CMCSA) to Neutral from Buy
- MoffettNathanson upgraded Electronic Arts (EA) to Buy from Neutral
- RMD (RMD) upgraded to Buy from Neutral at UBS
- Baird initiated coverage of Zillow Group (ZG) with a Neutral rating
3. AROUND THE WEB:
- Apple (AAPL) shuttered a project to build Mac-connected AR glasses, Bloomberg says
- Meta (META) is in discussions to reincorporate in Texas or another state, WSJ reports
- U.S. officials are investigating whether China's DeepSeek purchased advanced Nvidia (NVDA) semiconductors through third parties in Singapore, Bloomberg reports
- Costco (COST) will increase the pay for most of its hourly U.S. store workers to over $30, Reuters says
- Honda (HMC) and Nissan (NSANY) will delay the unveiling of their merger plan until mid-February, Kyodo News reports
4. MOVERS:
- Cipher Mining (CIFR) gains after announcing a $50M investment from SoftBank (SFTBY)
- Viavi (VIAV) increases after reporting quarterly results and providing guidance for Q3
- AST SpaceMobile (ASTS) higher after announcing the FCC granted the company Special Temporary Authority authorizing testing service in the U.S.
- Walgreens (WBA) falls after suspending its quarterly dividend and announcing plans to evaluate all options to maximize its equity value
- JetBlue (JBLU) lower after United Airlines (UAL) said it is not in talks with any airline over a potential merger
5. EARNINGS/GUIDANCE:
- Visa (V) reported better-than-expected Q1 earnings and revenue, with payments volume up 9%
- AbbVie (ABBV) reported Q4 results, with EPS missing consensus
- Colgate-Palmolive (CL) reported Q4 results and provided guidance for FY25
- Church & Dwight (CHD) reported Q4 results, with EPS in-line with consensus
- RBC Bearings (RBC) reported Q3 results, with CEO Michael Hartnett commenting, "RBC delivered another quarter of strong operational performance"
INDEXES:
The Dow fell 337.47, or 0.75%, to 44,544.66, the Nasdaq lost 54.31, or 0.28%, to 19,627.44, and the S&P 500 declined 30.64, or 0.50%, to 6,040.53.
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