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:
- Morgan Stanley (MS) reported upbeat Q2 earnings and revenue [more]
- TSMC (TSM) provided upbeat revenue guidance for Q3 along with results [more]
- Progressive (PGR) reported better than expected Q2 earnings [more]
- AIG (AIG) agreed to sell a stake in its Life & Retirement business as well as affordable housing assets to Blackstone (BX) [more]
- Avast (AVASF), NortonLifeLock (NLOK) confirmed they are in advanced merger talks [more]
2. WALL STREET CALLS:
- Citi throws in towel on AMD (AMD) sell call, hikes target nearly $80 per share [more]
- NXP Semiconductors (NXPI) downgraded to Neutral from Buy at Mizuho [more]
- Delta Air Lines (DAL) double upgraded to Strong Buy at Raymond James [more]
- Buying Square (SQ) could be "like buying JPMorgan in 1871," says Mizuho [more]
- Apple (AAPL) price target raised to $166 at Morgan Stanley ahead of Q3 earnings [more]
3. AROUND THE WEB:
- Netflix (NFLX) is working on an expansion into video games, Bloomberg reports [more]
- Cleveland Clinic and Mount Sinai won't administer Biogen's (BIIB) aduhelm to patients, NY Times says [more]
- Aurora is agreeing to go public via a merger with Reinvent Technology Partners Y (RTPY), Bloomberg says [more]
- Visa (V) and MasterCard (MA) will allow their cards to be used on Binance, FT reports [more]
- Gap (GPS) spinoff idea revisited at Dealreporter after Fabletics report [more]
4. MOVERS:
- SciPlay (SCPL) gains after Scientific Games (SGMS) submitted to the board of directors of SciPlay a proposal to acquire the remaining 19% equity interest it does not currently own in an all-stock transaction [more]
- Nikola (NKLA) rises after adding five independent dealers with more than 51 locations in nine states [more]
- Cassava Sciences (SAVA) declines after Cantor Fitzgerald analyst Charles Duncan downgraded the stock to Neutral from Overweight with a $100 price target [more]
- Gatos Silver (GATO) lower after announcing an 8.93M share offering priced at $14 [more]
- Galapagos (GLPG) falls after providing updated results for GLPG3667 and GLPG3970 studies [more]
EARNINGS/GUIDANCE:
- UnitedHealth (UNH) raised its earnings guidance for FY21 [more]
- U.S. Bancorp (USB) reported upbeat Q2 results [more]
- BNY Mellon (BK) reported better than expected Q2 earnings and revenue [more]
- Cintas (CTAS) provided upbeat FY22 earnings and revenue guidance [more]
- Zynex (ZYXI) provided Q2 and FY21 revenue guidance [more]
INDEXES:
Near midday, the Dow was up 38.13, or 0.11%, to 34,971.36, the Nasdaq was down 98.80, or 0.67%, to 14,546.16, and the S&P 500 was down 13.95, or 0.32%, to 4,360.35.