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:
- GlaxoSmithKline (GSK) provided details of its planned demerger of its consumer healthcare business in mid-2022 [more]
- Electronic Arts (EA) agreed to acquire Playdemic from AT&T (T) for $1.4B in cash [more]
- Amazon (AMZN) said Prime Day customers spent over $1.9B on small business products [more]
- PVH Corp. (PVH) will sell its Heritage Brand IP and assets to ABG for $220M [more]
- Southwest (LUV) said that Robert Jordan will succed Gary Kelly as CEO [more]
2. WALL STREET CALLS:
- Street Fight: JPMorgan cuts Carvana (CVNA) to Neutral as Jefferies ups price target to $400 [more]
- Citi upgrades United Rentals (URI) to Buy, sees positive estimate revisions [more]
- IntercontinentalExchange (ICE) upgraded to Conviction Buy from Buy at Goldman Sachs [more]
- Evercore upgrades land drillers Helmerich & Payne (HP), Patterson-UTI (PTEN) and Precision Drilling (PDS) to Outperform ahead of strong 2022 [more]
- Citi opens "positive catalyst watch" on Verizon (VZ) into Q2 results [more]
3. AROUND THE WEB:
- Google (GOOGL) may soon face app store antitrust suit from state AGs, Reuters reports [more]
- Apple (AAPL) CEO warns congress, claims antitrust bills were rushed, NY Times reports [more]
- Embark to go public in deal with Northern Genesis Acquisition Corp. II (NGAB), WSJ says [more]
- Bowling center operator Bowlero in talks to come public via deal with Isos Acquisition (ISOS), Bloomberg says [more]
- Crypto exchange Bullish, Far Peak Acquisition (FPAC) in merger talks, Bloomberg says [more]
4. MOVERS:
- Luokung Technology (LKCO) rises after the Intelligent and Connected Vehicles-Highly Automated Driving Map-Acquisition Element Model and Exchange Format standard passed the project approval and review process and was approved for official release [more]
- Nikola (NKLA) gains after investing $50M in cash and stock in exchange for a 20% equity interest in the clean hydrogen project being developed by Wabash Valley Resources [more]
- Gemini (GMTX) lower after reporting initial data from its ongoing Phase 2a ReGAtta study of GEM103 [more]
- Plug Power (PLUG) declines after Canaccord Genuity analyst Jed Dorsheimer downgraded the stock to Hold from Buy with a price target of $31, down from $69 [more]
- WillScot Mobile Mini (WSC) falls after announcing a 14M share Spot Secondary offering priced at $27.95 [more]
5. EARNINGS:
- Patterson Companies (PDCO) drops after reporting downbeat Q4 results [more]
- Winnebago (WGO) slips after reporting quarterly results [more]
- Aspen Group (ASPU) gains after reporting better than expected Q4 revenue [more]
- IHS Markit (INFO) lower after "beat and raise" earnings report [more]
- Digital Bridge (DBRG) lower after raising its FY21 revenue guidance yesterday at investor day meeting [more]
INDEXES:
Near midday, the Dow was down 13.04, or 0.04%, to 33,932.54, the Nasdaq was up 28.79, or 0.20%, to 14,282.05, and the S&P 500 was up 3.79, or 0.09%, to 4,250.23.