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:
- Panasonic (PCRFY) has sold its Tesla (TSLA) stake for $3.6B [more]
- Rockwell Automation (ROK) has agreed to acquire Plex Systems for $2.2B in cash [more]
- Virgin Galactic (SPCE) rockets higher after FAA approval for a full commercial launch license that allows the company to fly commercial customers to space [more]
- Amazon (AMZN) and Google (GOOGL) are facing a formal fake review inquiry in the U.K. [more]
- IKONICS (IKNX) and bitcoin mining company TeraWulf (WULF) announced a merger agreement [more]
2. WALL STREET CALLS:
- Netflix (NFLX) upgraded to Outperform from Neutral at Credit Suisse [more]
- BlackBerry (BB) downgraded to Reduce from Hold at TD Securities, cut to Underperformer from Neutral at CIBC and lowered to Sell from Hold at Canaccord [more]
- Redburn puts Sell ratings on AT&T (T) and Verizon (VZ), Buy on Comcast (CMCSA) [more]
- NetApp (NTAP) upgraded to Outperform from Market Perform at Raymond James [more]
- Baird upgrades Luminar (LAZR) to Outperform ahead of expected outlook hike [more]
3. AROUND THE WEB:
- Qualcomm (QCOM) sees high growth in the 5G basebands market in Q1, DigiTimes says [more]
- Credit Suisse (CS) executives are seeking a new overhaul plan, which may include a merger with UBS (UBS), Reuters reports [more]
- Robinhood's (HOOD) IPO plans are being slowed by the SEC's review of its prospectus, Bloomberg says [more]
- Twilio (TWLO) and Asana (ASAN) are aiming to list their shares on the Long Term Stock Exchange, WSJ reports [more]
- Southwest (LUV) plans to increase its minimum wage to $15 per hour, Bloomberg says [more]
4. MOVERS:
- Tonix Pharmaceuticals (TNXP) rises after CEO Seth Lederman said that plans are advancing to construct a commercial-scale facility to develop and manufacture vaccines [more]
- Big banks, such as Wells Fargo (WFC) and Bank of America (BAC), rally after the Fed said that it would end COVID event restrictions [more]
- Nokia (NOK) higher in New York after Goldman Sachs analyst Alexander Duval upgraded the stock to Buy [more]
- Oasis Midstream Partners (OMP) declines after announcing a 3.6M share Spot Secondary offering priced at $24.60 [more]
- Rite Aid (RAD) falls after JPMorgan analyst Lisa Gill downgraded the stock to Underweight from Neutral with a price target of $12, down from $21 [more]
5. EARNINGS:
- Nike (NKE) jumps after reporting Q4 earnings, giving long-term outlook [more]
- FedEx (FDX) slips after reporting Q4 results [more]
- CarMax (KMX) gains after reporting growth in units sold in Q1 [more]
- JinkoSolar (JKS) rises after reporting surprise earnings for Q1 [more]
- Paychex (PAYX) higher after providing FY22 guidance [more]
INDEXES:
The Dow rose 237.02, or 0.69%, to 34,433.84, the Nasdaq lost 9.32, or 0.065%, to 14,360.39, and the S&P 500 advanced 14.21, or 0.33%, to 4,280.70.