Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Amazon (AMZN) confirms annual Prime Day event to be held June 21-22, but postponing Prime Day plans in Canada and India due to COVID-19 concerns [more]
- Etsy (ETSY) agreed to acquire "unique fashion" marketplace Depop for $1.625B [more]
- MorphoSys (MOR) has agreed to acquire Constellation Pharmaceuticals (CNST) for $34 per share in cash [more]
- Toyota (TM) has debuted the b74X Concept, an all-electric SUV concept, in the U.S. [more]
- AMC Entertainment (AMC) continues to rally as movie exhibitor launches initiative to engage with retail shareholders [more]
2. WALL STREET CALLS:
- Cinemark (CNK) lower after being cut to Sell at Goldman Sachs [more]
- Imax (IMAX) also dips after Goldman Sachs analyst Michael Ng downgraded the stock to Sell from Neutral [more]
- Honest Company (HNST) initiated with a Neutral at BofA [more]
- Vimeo (VMEO) initiated with a Buy at Jefferies and with an Outperform rating at Cowen [more]
- Canopy Growth (CGC) upgraded to Hold from Sell at Canaccord and raised to Neutral from Sell at Eight Capital [more]
3. AROUND THE WEB:
- The SEC has found that Tesla (TSLA) did not oversee CEO Elon Musk's Twitter use in 2020, WSJ says [more]
- Tesla (TSLA) sees buying over $1B of Australian battery minerals per year, Reuters says [more]
- Overstock's (OSTK) tZERO exploring options, including sale or merger, CoinDesk says [more]
- Credit Suisse (CS) plan lawsuit against Softbank (SFTBY) following Greensill fall, FT reports [more]
- Microsoft (MSFT) tells Verge no exclusivity deal for Dolby (DLB) Atmos, Dolby Vision on Xbox [more]
4. MOVERS:
- Skillz (SKLZ) gains after entering into an agreement to acquire Aarki for $150M [more]
- Bed Bath & Beyond (BBBY) rises after revealing three new owned brands that will be launching this quarter [more]
- Westport Fuel Systems (WPRT) declines after announcing an $100M offering of common shares [more]
- Sesen Bio (SESN) falls after announcing a global supply partnership agreement for Vicineum with Qilu Pharmaceutical [more]
- iRhythm Technologies (IRTC) lower after announcing CEO Mike Coyle has decided to resign from his position [more]
5. EARNINGS/GUIDANCE:
- Zoom Video (ZM) flat at midday despite better than expected Q1 results [more]
- Medallia (MDLA) rises after "beat and raise" report [more]
- Iteris (ITI) higher after quarterly revenue beat [more]
- HP Enterprise (HPE) falls after "beat and raise" report [more]
- Progenity (PROG) drops after withdrawing 2021 guidance [more]
INDEXES:
Near midday, the Dow was up 65.96, or 0.19%, to 34,641.27, the Nasdaq was up 24.71, or 0.18%, to 13,761.18, and the S&P 500 was up 11.06, or 0.26%, to 4,213.10.