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:
- PepsiCo (PEP) earnings beat expectations as organic revenue growth accelerated [more]
- Johnson & Johnson (JNJ) has submitted data in support of a COVID-19 booster shot to the FDA [more]
- Facebook (FB) said that its recent outage was triggered by the system that manages its global backbone network capacity [more]
- Facebook said separately that it doesn't agree with the characterization of issues from a former product manager in Senate Commerce subcommittee hearing [more]
- General Motors (GM) said it will invest in a next-generation battery facility in Warren, Michigan [more]
2. WALL STREET CALLS:
- Albertsons (ACI), Sprouts Farmers Market (SFM) cut to Underperform at BMO Capital [more]
- Lordstown Motors (RIDE) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- CommScope (COMM) downgraded to Neutral from Outperform at Credit Suisse [more]
- Snap (SNAP) remained favorite app among teens in Piper's semi-annual survey [more]
- Clearway Energy (CWEN) upgraded to Outperform from In Line at Evercore ISI [more]
3. AROUND THE WEB:
- Southwest Gas (SWX) is nearing a deal to buy Dominion's (D) Questar, Reuters reports [more]
- Meanwhile, Carl Icahn has taken a nearly 5% stake in Southwest Gas and is pushing the company to give up on the reported Questar deal [more]
- Kerrisdale Capital said it is short Camber Energy (CEI) [more]
- Apple (AAPL) opposes Visa (V) fee changes nudged by banks, WSJ reports [more]
- Kellogg's (K) U.S. cereal plant workers are going on strike, AP reports [more]
4. MOVERS:
- Hyzon Motors (HYZN) rises after issuing a statement that said the short seller report by Blue Orca released late September was “inaccurate and misleading” [more]
- SmileDirectClub (SDC) up after announcing the United States Patent & Trademark Office will issue a patent on the company’s SmileBus concept [more]
- Agrify (AGFY) higher after acquiring Precision Extraction Solutions and Cascade Science [more]
- UpHealth (UPH) lower after announcing a 23M share offering priced at $1.75 [more]
- Atea Pharmaceuticals (AVIR) falls after Morgan Stanley analyst Matthew Harrison downgraded the stock [more]
5. EARNINGS/GUIDANCE:
- Comtech (CMTL) reported lower than expected Q4 results [more]
- Duckhorn Portfolio (NAPA) slides after reporting Q4 results [more]
- Biohaven Pharmaceuticals (BHVN) provided Q3 NURTEC ODT product revenue guidance [more]
- Booz Allen (BAH) reaffirmed FY22 adjusted earnings guidance [more]
- Sandstorm Gold (SAND) reported preliminary Q3 revenue [more]
INDEXES:
The Dow rose 311.75, or 0.92%, to 34,314.67, the Nasdaq gained 178.35, or 1.25%, to 14,433.83, and the S&P 500 advanced 45.26, or 1.05%, to 4,345.72.