CVS Health, Lyft report Q4 results: Morning Buzz

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

1. STOCK NEWS:

• CVS Health (CVS) reported upbeat Q4 earnings and revenue and provided its outlook for FY25
• Lyft (LYFT) reported Q4 gross bookings rose 15% year-over-year
• DoorDash (DASH) reported upbeat Q4 results and provided its outlook for Q1
• Zillow Group (ZG) reported better-than-expected quarterly revenue
• Low doses of Novo’s (NVO) Ozempic can help reduce alcohol consumption, Bloomberg reports

2. WALL STREET CALLS:

• Benchmark starts Tesla (TSLA) at Buy on EV and other growth opportunities
• Upstart (UPST) upgraded to Buy at B. Riley and Neutral at JPMorgan after earnings
• Needham upgraded GlobalFoundries (GFS) to Buy
• William Blair downgraded Tempus AI (TEM) to Market Perform
• UBS, RBC Capital and Roth MKM downgraded Fluence Energy (FLNC) to Neutral-equivalent ratings

3. AROUND THE WEB:

• China regulators have “major concerns” about Synopsys’ (SNPS) proposed acquisition of Ansys (ANSS), Dealreporter reports
• Micron (MU) is seeking bids for Phase 2 of its semiconductor factory in Sanand, India, with L&T and KEC International among contenders, Economic Times says
• Lens Technology is set to become Apple’s (AAPL) primary supplier of ultra-thin glass for upcoming foldable devices, DigiTimes reports
• Johnson and Johnson (JNJ) is putting its stroke care business up for sale, FT says
• Disney (DIS) has replaced diversity and inclusion as a standalone metric in setting executive pay, FT reports

4. MOVERS:

• Confluent (CFLT) gains after reporting Q4 results and announcing a strategic partnership with Jio Platforms
• Angi (ANGI) higher after reporting Q4 results, with EPS in-line with consensus
• Crispr Therapeutics (CRSP) and Sensata (ST) increase in New York after reporting quarterly results
• Staar Surgical (STAA) falls after reporting Q4 results that prompted several downgrades of the shares
• Similarweb (SMWB) and OneStream (OS) lower in New York after reporting quarterly results

5. EARNINGS/GUIDANCE:

• Gilead (GILD) reported Q4 results and provided guidance for FY25
• Biogen (BIIB) reported Q4 results, with CEO Christopher Viehbacher commenting, “We believe 2024 was an important year on our journey to deliver long-term sustainable growth”
• Generac (GNRC) reported Q4 results, with EPS beating consensus
• Kraft Heinz (KHC) reported Q4 results and provided guidance for FY25
• Restaurant Brands (QSR) reported Q4 results, with EPS and revenue beating consensus

INDEXES:

Near midday, the Dow was down 0.61%, or 270.93, to 44,322.72, the Nasdaq was down 0.19%, or 37.13, to 19,606.73, and the S&P 500 was down 0.38%, or 23.04, to 6,045.46.