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:
- Facebook (FB) reported upbeat quarterly results but guided for revenue growth deceleration in the back half of the year [more]
- Qualcomm (QCOM) reported better than expected Q3 results [more]
- Ford (F) reported a surprise profit for Q2 [more]
- PayPal (PYPL) reported quarterly results and provided downbeat Q3 and FY21 guidance [more]
- DiDi (DIDI) denied a report from the Wall Street Journal saying that the company is considering going private [more]
2. WALL STREET CALLS:
- Analysts diverge on Apple (AAPL) supplier Cirrus Logic (CRUS) after results [more]
- CyrusOne (CONE) double upgraded to Outperform at Raymond James, downgraded to Hold at Truist after CEO separation [more]
- Spotify (SPOT) upgraded to Buy at Guggenheim following nearly 40% pullback, raised to Neutral at UBS [more]
- LG Display (LPL) upgraded to Buy from Neutral at Nomura and downgraded to Underperform from Outperform at CLSA [more]
- Robinhood (HOOD) initiated with an Overweight at Atlantic Equities ahead of IPO opening [more]
3. AROUND THE WEB:
- Netflix (NFLX) will require COVID-19 vaccinations for actors and some crew, Deadline reports [more]
- Facebook (FB) told TechCrunch it will require COVID-19 vaccination for workers aiming to return to its U.S. offices [more]
- Twitter (TWTR) is re-closing its New York and San Francisco offices amid a COVID-19 spike, SF Chronicle says [more]
- SoftBank (SFTBY) has sold 45M Uber (UBER) shares to cover for DiDi (DIDI) losses, CNBC reports [more]
- Walmart-owned (WMT) Flipkart and Amazon (AMZN) have aksed India's Supreme Court to restrain the Competition Comission of India, Reuters says [more]
4. MOVERS:
- Zoom (ZM) rises after KeyBanc upgraded the stock to Overweight from Sector Weight with a $428 price target [more]
- LendingClub (LC) and Tempur Sealy International (TPX) rise, respectively, after reporting quarterly results [more]
- Annovis Bio (ANVS) plunges after presenting data on ANVS401 at the Alzheimer’s Association International Conference [more]
- Cassava Sciences (SAVA) falls after announcing clinical data from an interim analysis of an open-label study with simufilam [more]
- Nikola (NKLA) lower after the company’s founder Trevor Milton was charged by the U.S. Attorney’s Office in Manhattan for allegations of fraud and for making false and misleading statements to investors [more]
5. EARNINGS/GUIDANCE:
- MasterCard (MA) reported upbeat Q2 results [more]
- Altria Group (MO) narrowed its FY21 adjusted earnings guidance [more]
- Merck (MRK) reported downbeat Q2 results [more]
- Spirit Airlines (SAVE) reported upbeat quarterly results [more]
- Southern Company (SO) reported better-than-expected earnings and revenue [more]
INDEXES:
Near midday, the Dow was up 199.94, or 0.57%, to 35,130.87, the Nasdaq was up 52.24, or 0.35%, to 14,814.83, and the S&P 500 was up 24.93, or 0.57%, to 4,425.57.