Benzinga Pro's Top 5 Stocks To Watch For Thursday, May 4, 2023: PACW, FHN, DRI, PTON, MLCO

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  • PacWest Bancorp (PACW) - Shares were down more than 30% Thursday morning following a Bloomberg report the company will consider strategic alternatives including a potential sale. The report and downside in the stock followed major downside in the stock over the last several trading sessions; PacWest shares were down more than 50% since earlier this week.

  • First Horizon Corp. (FHN) - The company and TD Bank (TD) mutually called off their merger agreement Thursday morning. TD Bank said it was unable to obtain a timeline for regulatory approvals for reasons unrelated to First Horizon. First Horizon shares were down about 40% on the news.

  • Darden Restaurants (DRI) - Analysts at Oppenheimer remained bullish on Darden following what the firm called an "attractive" acquisition by the company of Ruth Hospitality (RUTH), owner of Ruth's Chris Steak House.

  • Peloton Interactive (PTON) - The stock was down 7% following mixed quarterly results but solid guidance from the company. Analysts at Needham were favorable on Peloton shares amid the results and guidance. The analysts were optimistic amid a relaunch of the company's brand and app later in May.

  • Melco Resorts (MLCO) - A play on casinos in China's Macau region. The company is expected to report quarterly results over the next two weeks.

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