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:
- Aon (AON) and Willis Towers Watson (WLTW) have terminated their merger agreement [more]
- Thoma Bravo agreed to acquire Medallia (MDLA) for $34 per share in cash [more]
- Amazon (AMZN) is planning to accept bitcoin payments and is evaluating its own token for 2022, City A.M. says [more]
- A number of Chinese private education company stocks are slipping following a crackdown by regulators [more]
- PerkinElmer (PKI) reported quarterly results and agreed to acquire BioLegend for $5.25B [more]
2. WALL STREET CALLS:
- Six Flags (SIX) upgraded to Outperform at Wedbush ahead of expected inflection in story [more]
- Dish (DISH) upgraded to Neutral from Sell at MoffettNathanson [more]
- Gap (GPS) upgraded to Buy from Hold at Deutsche Bank [more]
- Lowe's (LOW) downgraded to Neutral at Wedbush as tailwinds slow [more]
- Kratos Defense (KTOS) upgraded to Buy ahead of Q2 results at B. Riley [more]
3. AROUND THE WEB:
- Philip Morris (PM) plans to stop selling cigarettes in the U.K. within 10 years, Daily Mail reports [more]
- Robinhood (HOOD) is considering offering U.S. retirement accounts, Reuters says [more]
- China's market regulator is barring Tencent (TCEHY) from exclxusive music copyright agreements, Reuters reports [more]
- General Motors (GM) and its Cruise unit are suing Ford (F) to block the company from using the "BlueCruise" name, Reuters reports [more]
- Short-seller Spruce Point said Oatly (OTLY) changed its recycling claims post IPO [more]
4. MOVERS:
- Lordstown (RIDE) rises after entering into an equity purchase agreement with YA II PN pursuant to which YA has committed to purchase up to $400M of its stock [more]
- Southwestern Energy (SWN) higher after Susquehanna analyst Biju Perincheril upgraded the stock to Positive from Neutral [more]
- ATI Physical Therapy (ATIP) declines after reporting quarterly results and lowering its FY21 revenue view [more]
- Denali Therapeutics (DNLI) lower after announcing interim data from its Phase 1/2 study evaluating ETV:IDS [more]
- Bilibili (BILI) falls in New York amid crackdown on ed-tech sector, after CLSA analyst Elinor Leung downgraded the stock [more]
5. EARNINGS/GUIDANCE:
- Hasbro (HAS) reported better than expected earnings and revenue [more]
- Lockheed Martin (LMT) raised its FY21 earnings and revenue guidance [more]
- Check Point (CHKP) reported upbeat Q2 results [more]
- Philips (PHG) reported Q2 results that were higher year-over-year [more]
- MorphoSys (MOR) narrowed its FY21 revenue guidance [more]
INDEXES:
Near midday, the Dow was up 23.22, or 0.07%, to 35,084.77, the Nasdaq was up 6.74, or 0.05%, to 14,843.73, and the S&P 500 was up 6.52, or 0.15%, to 4,418.31.