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:
- Microsoft (MSFT) agreed to acquire Activision Blizzard (ATVI) for $95 per share in cash [more]
- GSK (GSK) said it rejected three Unilever (UL) bids that "undervalued" its Consumer Healthcare unit [more]
- Goldman Sachs (GS) reported lower than expected Q4 headline earnings, but better than expected Q4 revenue [more]
- Verizon (VZ) and AT&T (T) both decided to defer turning on a number of 5G towers near airports [more]
- Ford (F) and ADT (ADT) announced forming a joint venture focused on vehicle security [more]
2. WALL STREET CALLS:
- Snowflake (SNOW) upgraded to Outperform from Market Perform at William Blair [more]
- Gap (GPS) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- Delta Air Lines (DAL) upgraded to Buy from Hold at Argus [more]
- Gordon Haskett downgrades Airbnb (ABNB) to Hold on growth headwinds [more]
- Goldman Sachs starts SoFi Technologies (SOFI) at Neutral, Mizuho cuts SoFi price target to $17 [more]
3. AROUND THE WEB:
- Intel (INTC) will announce a bitcoin mining chip in February, CoinDesk reports [more]
- Peloton (PTON) has hired McKinsey to review its cost structure, CNBC reports [more]
- Alibaba's (BABA) cloud unit is being probed by the U.S. over national security risks, Reuters reports [more]
- Citrix (CTXS) is in advanced talks for a go-private buyout deal, Bloomberg reports [more]
- Activision Blizzard CEO Bobby Kotick will depart once the Microsoft takeover closes, WSJ says [more]
4. MOVERS:
- Houghton Mifflin Harcourt (HMHC) higher after Bloomberg reported the company is considering a potential sale [more]
- Kohl’s (KSS) gains after Reuters said Acacia Research (ACTG) contacted the company to express buyout interest [more]
- Bluebird Bio (BLUE) slips after the FDA extended its review for biologics licensing applications [more]
- BioNTech (BNTX) declines after Bloomberg reported preliminary data from a trial showed a fourth dose of Pfizer (PFE) and the company’s vaccine was insufficient to prevent infection with the omicron variant of COVID-19 [more]
- Silvergate (SI) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- PNC Financial (PNC) reported upbeat Q4 earnings [more]
- Charles Schwab (SCHW) reported downbeat Q4 results [more]
- Hain Celestial (HAIN) sees Q2 net sales down 1%-3% year-over-year [more]
- Zynex (ZYXI) reiterated its Q4 revenue guidance [more]
- Sportsman's Warehouse (SPWH) provided earnings guidance for Q4 and 2021 [more]
INDEXES:
The Dow fell 543.34, or 1.51%, to 35,368.47, the Nasdaq lost 386.86, or 2.6%, to 14,506.90, and the S&P 500 declined 85.74, or 1.84%, to 4,577.11.