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:
- Merck (MRK) announced a procurement agreement with the U.S. for molnupiravir for the treatment of at-risk, non-hospitalized patients with confirmed COVID-19 [more]
- UPS (UPS) is targeting 2023 revenue of $98M-$102B, shares slide during investor day meeting [more]
- Interactive Brokers (IBKR) CEO Thomas Peterffy said the company will offer crypto trading by the end of the summer [more]
- AT&T (T) announced a $725M task order from the Department of Veterans Affairs [more]
- JetBlue (JBLU) now sees Q2 revenue falling 30%-33% versus same quarter of 2019, improved from prior view [more]
2. WALL STREET CALLS:
- Wendy's (WEN) downgraded to Hold from Buy at Stifel and to Neutral from Buy at Northcoast [more]
- Jefferies upgrades Abercrombie & Fitch (ANF) to Buy on brand strength, cost savings [more]
- B. Riley starts Checkpoint Therapeutics (CKPT) at Buy, sees 600% potential upside [more]
- Fox (FOXA) upgraded to Overweight on sports betting opportunity at Wells Fargo [more]
- Coinbase (COIN) gets first sell rating on competition concerns [more]
3. AROUND THE WEB:
- Apple (AAPL) is in early talks with China's CATL and BYD about the supply of electric vehicle batteries, Reuters reports [more]
- Amazon (AMZN) is mulling replacing JPMorgan (JPM) in its co-brand card deal, Bloomberg says [more]
- In a challenge to Boeing (BA), Airbus (EADSY) may start taking orders for its A350 freighter in July, Bloomberg says [more]
- Covanta (CVA) is being advised by bankers as the company explores a possible sale, Dealreporter says [more]
- Shell (RDS.A) intends to accelerate its plans to cut greenhouse gas emissions, FT reports [more]
4. MOVERS:
- The GEO Group (GEO) rises after receiving attention on Reddit’s WallStreetBets [more]
- Clean Energy Fuels (CLNE) gains after receiving attention on Reddit’s WallStreetBets, company stated it has no plans to raise additional capital at this time [more]
- Inovio Pharmaceuticals (INO) rises after expanding its partnership with Advaccine Biopharmaceuticals Suzhou [more]
- Clarivate (CLVT) drops after announcing offerings of ordinary shares, convertible preferred shares [more]
- Dish (DISH) lower after JPMorgan analyst Philip Cusick downgraded the stock to Underweight from Neutral [more]
5. EARNINGS:
- Campbell Soup (CPB) drops after reporting Q3 results [more]
- United Natural Foods (UNFI) falls after reiterating fiscal 2021 guidance [more]
- Comtech (CMTL) lower after reporting Q3 earnings [more]
- Sherwin-Williams (SHW) slips after the company raised its Q2 and FY21 guidance [more]
- Brown-Forman (BF.A) declines after reporting lower than expected Q4 earnings [more]
INDEXES:
Near midday, the Dow was down 33.96, or 0.10%, to 34,565.86, the Nasdaq was up 19.24, or 0.14%, to 13,944.15, and the S&P 500 was up 2.35, or 0.06%, to 4,229.61.