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:
- Senator Elizabeth Warren has called on the FTC to review Amazon's (AMZN) proposed MGM acquisition [more]
- Altimmune (ALT) plans to discontinue further development of its AdCOVID vaccine [more]
- Along with earnings, Bed Bath & Beyond (BBBY) reported Q1 comp sales growth of 86% [more]
- General Mills (GIS) also reported upbeat quarterly results [more]
- Celanese (CE) will acquire the Santoprene TPV business from Exxon Mobil (XOM) for $1.15B [more]
2. WALL STREET CALLS:
- Virgin Galactic (SPCE) double-downgraded to Underperform from Buy at BofA [more]
- Morgan Stanley double downgrades "overvalued" AppLovin (APP) to Underweight [more]
- Micron (MU) upgraded to Outperform from Market Perform at BMO Capital ahead of earnings [more]
- Seagate (STX) upgraded to Equal Weight from Underweight at Barclays [more]
- Roblox (RBLX) initiated with Overweight rating, $96 price target at Citic Securities [more]
3. AROUND THE WEB:
- Fastly (FSLY) has been added to the "takeover target watch list" at Dealreporter [more]
- Toshiba (TOSYY) investors could force the board to consider private equity-led buyout offers, FT reports [more]
- Nissan (NSANY) is seeking $145M in damages from an Italian battery supplier, Bloomberg says [more]
- Microsoft (MSFT) and Google (GOOGL) are not keen on renewing a recently expired truce, Bloomberg reports [more]
- Apollo (APO) lost a key court ruling in a Ceva share case, NY Post says [more]
4. MOVERS:
- AST SpaceMobile (ASTS) rises after Deutsche Bank analyst Bryan Kraft initiated coverage of the stock with a Buy rating and $35 price target [more]
- Vertex Energy (VTNR) gains after signing a definitive agreement with Clean Harbors (CLH) to sell certain assets related to its used motor oil business in an all-cash transaction for $140M [more]
- Hutchmed (HCM) higher in New York after listing its shares on the main board of the Stock Exchange of Hong Kong [more]
- Atea Pharmaceuticals (AVIR) declines after announcing interim results from its Phase 2 study of AT-527 in hospitalized patients with mild-to-moderate COVID-19 [more]
- Vaxart (VXRT) falls after B. Riley analyst Mayank Mamtani downgraded the stock to Neutral from Buy with a price target of $9, down from $13 [more]
5. EARNINGS/GUIDANCE:
- Constellation Brands (STZ) reports Q1 results, raises 2022 EPS guidance [more]
- Qumu (QUMU) reports preliminary Q2 revenue [more]
- Easterly Government Properties (DEA) ups FY21 FFO view [more]
- Creatd (CRTD) backs Q2 revenue view, issues Q3 outlook [more]
- AeroVironment (AVAV) reports Q4 results, backs FY22 EPS view [more]
INDEXES:
Near midday, the Dow was up 187.79, or 0.55%, to 34,480.08, the Nasdaq was down 22.42, or 0.15%, to 14,505.92, and the S&P 500 was up 4.50, or 0.10%, to 4,296.30.