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:
- IBM (IBM) reported upbeat quarterly results and reiterated FY21 revenue growth guidance [more]
- Halliburton (HAL) also reported quarterly results, with CEO Jeff Miller saying the company's strategy is "going well" [more]
- HCA Healthcare (HCA) provides "beat and raise" report [more]
- Dover (DOV) also had "beat and raise" quarterly report [more]
- New York AG Letitia James announced a $1.1B with McKesson (MCK), Cardinal Health (CAH), and AmerisourceBergen (ABC) over opioids [more]
2. WALL STREET CALLS:
- IBM (IBM) upgraded to Hold from Sell at Societe Generale [more]
- Rocket Companies (RKT) downgraded to Underperform at Wedbush [more]
- Baird downgrades Velodyne Lidar (VLDR) on "further uncertainty" after CEO exit [more]
- Cloudflare (NET) downgraded to Neutral from Buy at BTIG [more]
- Simon Property (SPG) upgraded to Buy from Hold at Stifel [more]
3. AROUND THE WEB:
- Comcast (CMCSA) CEO Brian Roberts and ViacomCBS (VIAC) chairman Shari Redstone met to discuss a potential streaming partnerhsip, WSJ reports [more]
- Apple (AAPL) wants to lease a Hollywood production campus, WSJ says [more]
- Facebook (FB) does not know the specifics on how misinformation spreads, NY Times reports [more]
- AT&T (T) is in talks to sell its ad unit to India's InMobi, Axios says [more]
- Snap (SNAP) has bought 3D/AR commerce platform Vertebrae, The Verge reports [more]
4. MOVERS:
- PLx Pharma (PLXP) rises after announcing three stock-keeping units of VAZALORE will launch in over 8,000 Walgreens (WBA) stores nationwide [more]
- Moderna (MRNA) higher after announcing the Ministry of Health, Labour, and Welfare of Japan and Takeda Pharmaceutical (TAK) have agreed to purchase and distribute an additional 50M doses of Moderna’s COVID-19 vaccine [more]
- Ardelyx (ARDX) drops after receiving a letter from the FDA stating it found deficiencies in the company’s New Drug Application for tenapanor [more]
- SolarWinds (SWI) falls after completing the previously announced spin-off of the company’s managed service provider business into a standalone, separately-traded public company named N-able (NABL) [more]
- Glaukos (GKOS) lower after Wells Fargo analyst Lawrence Biegelsen downgraded the stock to Underweight [more]
5. EARNINGS/GUIDANCE:
- Synchrony (SYF) reported better than expected Q2 results [more]
- PPG (PPG) reported downbeat Q2 earnings [more]
- Philip Morris (PM) cut its FY21 adjusted earnings guidance [more]
- Badger Meter (BMI) reported better-than-expected Q2 results [more]
- Ally Financial (ALLY) reported upbeat Q2 results [more]
INDEXES:
Near midday, the Dow was up 603.63, or 1.78%, to 34,565.67, the Nasdaq was up 205.91, or 1.44%, to 14,480.90, and the S&P 500 was up 66.73, or 1.57%, to 4,325.22.