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:
- Cloudera (CLDR) confirmed that it has agreed to be acquired by affiliates of CD&R and KKR (KKR) in an all cash transaction valued at roughly $5.3B, or $16.00 in cash per share [more]
- Pembina Pipeline (PBA) agreed to acquire Inter Pipeline in a share-for-share transaction that values Inter Pipeline common shares at approximately C$8.3B, or C$19.45 per share [more]
- Abbott (ABT) cuts its adjusted earnings guidance for fiscal 2021 due to significantly lower recent and projected COVID-19 diagnostic testing demand [more]
- The U.S. Supreme Court won't consider Johnson & Johnson's (JNJ) appeal to a 2018 jury ruling on its talc-based powder [more]
- Meat producer JBS (JBSAY) confirmed that it was the target of an "organized cybersecurity attack" [more]
2. WALL STREET CALLS:
- Boeing (BA) upgraded to Outperform from Market Perform at Cowen [more]
- Nio (NIO) upgraded to Buy from Neutral at Citi [more]
- Wall Street Honestly enamored with Jessica Alba's natural products company, Honest (HNST) [more]
- Affirm (AFRM) upgraded to Buy from Neutral at BofA [more]
- F5 Networks (FFIV) downgraded to Sell from Neutral at Goldman Sachs [more]
3. AROUND THE WEB:
- OPEC+ agrees to increase output by 450,000 barrels a day, WSJ says [more]
- BP (BP) and Eni (E) are in talks over the future of their oil and gas assets in Algeria, Reuters reports [more]
- U.S extends waiver for oil companies to work in Venezuela, Bloomberg says [more]
- Twitter (TWTR) partners with climate vet to launch weather news service, Axios says [more]
- Jehoshaphat Research short View Inc. (VIEW), calls business "permanently nonviable" [more]
4. MOVERS:
- AMC Entertainment (AMC) jumps after Mudrick Capital Management bought shares, then reportedly sold all its shares, which it called "massively overvalued" [more]
- Lineage Cell Therapeutics (LCTX) gains after the restoration of retinal tissue was observed in two patients enrolled in the company's phase 1/2a study of OpRegen [more]
- Paratek (PRTK) advances after the FDA approved the company's supplemental New Drug Application for nuzyra [more]
- Eastman Kodak (KODK) higher despite news that New York AG Letitia James asked the state's Supreme Court to force Kodak CEO Jim Continenza to publicly testify on alleged insider trading [more]
- Immunovant (IMVT) falls after reporting quarterly results and providing an update on MG trial studying IMVT-1401 [more]
5. EARNINGS/GUIDANCE:
- Canaan (CAN) jumps in New York after reporting a quarterly profit [more]
- Caleres (CAL) higher after Q1 earnings beat driven by Famous Footwear business [more]
- Qutoutiao (QTT) slips in New York after quarterly results [more]
- Kirkland's (KIRK) falls after Q2 revenue misses consensus [more]
- Canopy Growth (CGC) lower in New York after reporting y/y revenue growth in Q4 [more]
INDEXES:
The Dow rose 45.86, or 0.13%, to 34,575.31, the Nasdaq lost 12.26, or 0.089%, to 13,736.48, and the S&P 500 declined 2.07, or 0.049%, to 4,202.04.