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:
- Chubb (CB) agreed to acquire the life and non-life insurance companies of Cigna (CI) in the APAC region for $5.75B [more]
- Tesla (TSLA) CEO Elon Musk said the company will move its headquarters to Austin, Texas [more]
- Momentive (MNTV), the owner of SurveyMonkey, is exploring a potential sale, Bloomberg reports [more]
- RedBall Acquisition Corp. (RBAC) is in exclusive talks with SeatGeek over a possible combination [more]
- Non-farm payrolls grew by a less than expected 194,000 in September [more]
2. WALL STREET CALLS:
- Lowe's (LOW) and Home Depot (HD) downgraded to Hold from Buy at Loop Capital [more]
- Charter (CHTR) downgraded to Underweight from Overweight at Wells Fargo [more]
- JPMorgan upgrades Oatly (OTLY) to Overweight, sees valuation warranting "constructive outlook" [more]
- Tesla (TSLA) price target raised to $940 from $768 at Canaccord [more]
- Morgan Stanley upgrades Prelude Therapeutics (PRLD) to Overweight, sees opportunity in "noise" from data [more] [more]
3. AROUND THE WEB:
- Denmark has decided to offer the Moderna (MRNA) COVID-19 vaccine to children, Bloomberg says [more]
- Apple (AAPL) is planning a 550,000 square foot office expansion in the Los Angeles area, L.A. Times reports [more]
- EU asks Microsoft (MSFT) competitors about Teams integration in Office, Reuters says [more]
- Bayer's (BAYRY) pest control business is drawing takeover interest from several private equity suitors, Bloomberg reports [more]
- Users were reporting problems with Facebook (FB) and Instagram on Friday afternoon, according to Downdetector [more]
4. MOVERS:
- ChemoCentryx (CCXI) surges after announcing FDA approval of Tavneos in ANCA-associated vasculitis [more]
- Sundial Growers (SNDL) jumps after agreeing to acquire Alcanna for $346M [more]
- eFfector Therapeutics (EFTR) higher after announcing the presentation of new data for zotatifin in animal models of triple-negative breast cancer at a medical conference [more]
- Allogene (ALLO) plunges after the FDA put a clinical hold on AlloCar T clinical trials [more]
- Cidara Therapeutics (CDTX) lower after a 14.84M share secondary offering priced at $1.55 [more]
5. EARNINGS/GUIDANCE:
- Oshkosh (OSK) provided downbeat Q4 guidance [more]
- Accolade (ACCD) reported mixed Q2 results [more]
- Quidel (QDEL) guided for 6%-7% year-over-year revenue growth in Q3 [more]
- Apollo Endosurgery (APEN) reported upbeat preliminary Q3 revenue [more]
- Samsung (SSNLF) reported Q3 operating profit [more]
INDEXES:
The Dow fell 8.69, or 0.025%, to 34,746.25, the Nasdaq lost 74.48, or 0.51%, to 14,579.54, and the S&P 500 declined 8.42, or 0.19%, to 4,391.34.