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:
- Stamps.com (STMP) agreed to be acquired by Thoma Bravo for $6.6B or $330 per share in cash [more]
- Philip Morris (PM) has offered to acquire Vectura Group for $1.2B [more]
- Biogen (BIIB) shares slipped after FDA acting commissioner Janet Woodcock asked for a probe into the approval of the company's Alzheimer's treatment [more]
- Pfizer (PFE) and BioNTech (BNTX) are seeking a third COVID-19 shot authorization following "encouraging" data [more]
- Volkswagen (VWAGY) confirmed an extension of CEO Herbert Diess' contract and guided for first half operating profit of roughly EUR 11B [more]
2. WALL STREET CALLS:
- Wedbush starts General Motors (GM) at Outperform amid EV "renaissance" [more]
- Discover (DFS) assumed with a Buy from Neutral at Citi [more]
- Lion Electric (LEV) downgraded to Sell from Neutral at Vertical Group [more]
- Evercore upgrades Norfolk Southern (NSC) to Outperform, says fundamentals top fears [more]
- Expected Biden order a "clear negative" for rail valuations, says JPMorgan [more]
3. AROUND THE WEB:
- Apple (AAPL) is interested in streaming rights for NFL games, Information says [more]
- General Motors (GM) is recalling over 400,000 pickup trucks in the U.S., AP says [more]
- President Biden will target bank mergers and financial data with a competition executive order, Reuters reports [more]
- Tesla (TSLA) debuted a cheaper Model Y in China amid "muted" June sales, according to Reuters [more]
- Authentic Brands (AUTH) walks away from Adidas' (ADDY) Reebok auction, NY Post says [more]
4. MOVERS:
- Pitney Bowes (PBI) jumps after Stamps.com agreed to a takeover with a big premium [more]
- Disney (DIS) rises after "Black Widow" earns $13.2M in Thursday night preview sales [more]
- DraftKings (DKNG) gains after expanding its partnership with MLB to include live game streaming and betting [more]
- JinkoSolar Holding (JKS) lower in New York after announcing its subsidiary Jinko Solar signed a cooperation agreement with Maersk Shipping [more]
- Didi (DIDI) gains despite Cyberspace Administration of China requesting removal of 25 apps, included DiDi's "Enterprise Edition" [more]
5. EARNINGS/GUIDANCE:
- Accolade (ACCD) reported downbeat Q1 earnings [more]
- Levi Strauss (LEVI) reported better-than-expected Q2 results [more]
- Matson (MATX) provided upbeat Q3 earnings guidance [more]
- Greenbrier (GBX) expects Q4 to be its strongest performance of the year [more]
- Duck Creek Technologies (DCT) reported a surprise profit for Q3 [more]
INDEXES:
The Dow rose 448.23, or 1.3%, to 34,870.16, the Nasdaq gained 142.13, or 0.98%, to 14,701.92, and the S&P 500 advanced 48.73, or 1.13%, to 4,369.55.