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:
- The ITC determined that Google (GOOGL) violated Sonos (SONO) patents in certain audio players [more]
- The FDA shortened Moderna's (MRNA) COVID-19 booster interval to five months [more]
- T-Mobile (TMUS) sees Q4 postpaid account net additions of 315,000 [more]
- The New York Times (NYT) agreed to acquire The Athletic for $550M in cash [more]
- GameStop (GME) is launching an NFT and cryptocurrency marketplace unit, WSJ reports [more]
2. WALL STREET CALLS:
- Kohl's (KSS) downgraded to Sell from Neutral at UBS [more]
- Starbucks (SBUX) downgraded to Perform ratings at Oppenheimer and RBC [more]
- Mizuho downgrades Visa (V) on shortened cash-to-card conversion runway [more]
- Wells upgrades AT&T (T) to neutral with downside risks seen being "more limited" [more]
- Citi opens "Positive Catalyst Watch" on shares of Nvidia (NVDA) [more]
3. AROUND THE WEB:
- Tokyo-based games industry analyst Serkan Toto told Bloomberg that he is "very skeptical" of GameStop's new crypto plans [more]
- Royal Caribbean (RCL) and Norwegian Cruise (NCLH) are canceling trips due to omicron, Reuters reports [more]
- Reddit working with Morgan Stanley (MS) and Goldman Sachs (GS) on IPO that may come as soon as March, Bloomberg says [more]
- Walmart (WMT) is drawing attention from China for alleged cybersecurity violations, WSJ reports [more]
- Citi (C) will fire COVID-19 vaccine holdouts at the end of the month, Bloomberg reports [more]
4. MOVERS:
- Absci (ABSI) surges after announcing a research collaboration with Merck (MRK) [more]
- Discovery (DISCA) rises after BofA analyst Jessica Relf Ehrlich upgraded the stock to Buy from Neutral [more]
- Acuity Brands (AYI) higher after reporting quarterly results [more]
- Texas Instruments (TXN) slips after Citi analyst Christopher Danely downgraded the stock to Neutral from Buy [more]
- Aehr Test Systems (AEHR) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Quidel (QDEL) reported upbeat preliminary Q4 revenue [more]
- STMicroelectronics (STM) also reported upbeat preliminary Q4 revenue [more]
- Boot Barn (BOOT) reported upbeat preliminary Q3 earnings [more]
- Revance (RVNC) reported preliminary Q4 revenue [more]
- Kura Sushi (KRUS) reported downbeat Q1 revenue [more]
INDEXES:
The Dow fell 4.81, or 0.013%, to 36,231.66, the Nasdaq lost 144.96, or 0.96%, to 14,935.90, and the S&P 500 declined 19.02, or 0.41%, to 4,677.03.