Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Crypto-linked stocks were sliding as Bitcoin fell to below $24,000 [more]
- Prologis (PLD) will combine with Duke Realty (DKE) in a $26B all-stock transaction [more]
- U.S. health regulators reportedly say that Pfizer's (PFE) COVID-19 vaccine works safely in young children, while the FDA posted briefing documents for its advisory meeting with Moderna (MRNA) on its vaccine in children [more]
- Revlon (REV) is preparing a Chapter 11 filing as soon as this week, The Wall Street Journal reported Friday [more]
- Meta (META) is probing outgoing COO Sheryl Sandberg's use of corporate resources, according to The Journal [more]
2. WALL STREET CALLS:
- RBC Capital upgrades Tesla (TSLA) to Outperform [more]
- Micron (MU) downgraded to Hold from Buy at Summit Insights [more]
- Zendesk (ZEN) downgraded to Equal Weight on lack of catalysts at Morgan Stanley [more]
- Invesco (IVZ) and T. Rowe Price (TROW) downgraded to Market Perform from Outperform at BMO Capital [more]
- DocuSign (DOCU) downgraded to Underperform from Peer Perform at Wolfe Research [more]
3. AROUND THE WEB:
- Disney (DIS) lost out to a Paramount (PARA) joint venture in a bid for Indian cricket streaming rights, NY Times reports [more]
- Alphabet's (GOOG) Google is offering to let rivals place YouTube ads to address an EU antitrust probe, Reuters says [more]
- Tesla (TSLA) CEO Elon Musk told staff that the company had a "very tough quarter," Electrek reports [more]
- MSC Industrial (MSM) added as a new short idea at Hedgeye [more]
- Apple (AAPL) will underwrite and fund loans with its new buy now, pay later offering, WSJ reports [more]
4. MOVERS:
- Day One Biopharmaceuticals (DAWN) rises after announcing initial data from its FIREFLY-1 trial of tovorafenib [more]
- Redbox (RDBX) gains amid an increase in StockTwits message volume [more]
- New Oriental Education (EDU) increases in New York after JPMorgan upgraded the stock to Overweight with a price target of $24, up from $14 [more]
- Astra Space (ASTR) declines after announcing its TROPICS-1 mission did not deliver payloads to orbit [more]
- Volta (VLTA) falls after announcing CFO Chadwick to depart in August [more]
5. EARNINGS/GUIDANCE:
- The New York Times (NYT) announced midterm targets at its investor day [more]
- J.M. Smucker (SJM) reiterated its FY23 earnings and revenue guidance [more]
- Virtus Investment (VRTS) reported preliminary AUM of $167.2B as of May 31 [more]
- Charles Schwab (SCHW) said its prior results included a liability and non-deductable charge in connection with an SEC settlement [more]
- Gladstone Land (LAND) provided a business update for shareholders [more]
INDEXES:
Near midday, the Dow was down 627.05, or 2.00%, to 30,765.74, the Nasdaq was down 412.90, or 3.64%, to 10,927.13, and the S&P 500 was down 111.34, or 2.85%, to 3,789.52.