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:
- Micron (MU) reported quarterly results and agreed to sell its Lehi, Utah fab to Texas Instruments (TXN) for $1.5B in economic value [more]
- Philip Morris (PM) has agreed to acquire Fertin Pharma for DKK5.1B [more]
- Bowlero (BOWL) plans to list on the NYSE through a merger with Isos Acquisition (ISOS) [more]
- Car makers General Motors (GM), Volkswagen (VWAGY), Stellantis (STLA), Toyota (TM), Nio (NIO), and XPeng (XPEV) in focus after reporting June vehicle deliveries [more]
- Robinhood (HOOD) has filed for an IPO under the symbol 'HOOD' [more]
2. WALL STREET CALLS:
- Micron (MU) cut to Hold at Summit Insights amid "peaking industry dynamics" [more]
- Nvidia (NVDA) price target raised to $1,000 from $750 at BMO Capital [more]
- B. Riley starts Bed Bath & Beyond (BBBY) with Buy, sees 32% share upside [more]
- Deutsche Bank upgrades Celanese (CE) to Buy on capital deployment [more]
- ZipRecruiter (ZIP) initiated with an Overweight rating, $30 price target at Barclays [more]
3. AROUND THE WEB:
- Apollo Global (APO) confirmed it is in talks with Motive Partners about a minority stake [more]
- PepsiCo (PEP) aims to cut soda sugar levels by 25% in the EU by 2025, Reuters reports [more]
- OPEC+ may add 2M barrels per day of oil ot the market this year, Reuters says [more]
- Facebook's (FB) Instagram app will shift its focus from photo-sharing to short video clips, FT reports [more]
- The U.S. has secured international backing for a global minimum tax rate, WSJ says [more]
4. MOVERS:
- Grid Dynamics (GDYN) rises after announcing a 10.1M share secondary offering priced at $15.03 [more]
- TechnipFMC (FTI) gains in New York after being awarded a contract by Equinor (EQNR) for the Kristin Sor field in the North Sea [more]
- GlaxoSmithKline (GSK) higher after activist investor Elliott said the stock has 45% upside [more]
- Citius Pharmaceuticals (CTXR) declines after the independent Data Monitoring Committee for the Mino-Lok Phase 3 trial recommended proceeding with the trial [more]
- CureVac (CVAC) slides as COVID vaccine efficacy results disappoint [more]
5. EARNINGS/GUIDANCE:
- Micron (MU) slides after Q3 beat and Q4 guidance [more]
- Walgreens Boots Alliance (WBA) drops despite earnings beat and FY21 guidance hike [more]
- McCormick (MKC) reports earnings beat and guidance raise [more]
- Acuity Brands (AYI) sales and earnings beat expectations in Q3 [more]
- Simply Good Foods (SMPL) raises FY21 outlook after Q3 beat [more]
INDEXES:
The Dow rose 131.02, or 0.38%, to 34,633.53, the Nasdaq gained 18.42, or 0.13%, to 14,522.38, and the S&P 500 advanced 22.44, or 0.52%, to 4,319.94.