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:
- Johnson & Johnson (JNJ) announced data to support boosting COVID-19 vaccine [more]
- Cassava Sciences (SAVA) responded to allegations regarding scientific integrity [more]
- Powerbridge (PBTS) signs purchase agreement for 5,600 BTC, ETh mining machines [more]
- AMC Networks (AMCX) announces CEO Josh Sapan to transition to executive vice chairman [more]
- Delta (DAL) says unvaccinated employees subject to $200 monthly surcharge [more]
2. WALL STREET CALLS:
- Morgan Stanley cuts Theravance Biopharma (TBPH) to Underweight after failed UC study [more]
- Citi adds Medtronic (MDT) to Focus List, boosts price target [more]
- Beyond Meat (BYND) downgraded to Hold at Argus on disappointing guidance [more]
- Rent-A-Center (RCII) started with Buy at BofA on lease-to-own rollout opportunity [more]
- Piper Sandler downgrades Campbell Soup (CPB) on rising commodity prices [more]
3. AROUND THE WEB:
- Goldman Sachs (GS) mandates vaccines for workers, visitors, NYTimes reports [more]
- Kohl's (KSS) sees 'plenty of room' for it, Amazon (AMZN) to operate B&M stores, CNBC reports [more]
- TSMC (TSM) to boost quotes for sub-16nm process manufacturing, DigiTimes reports [more]
- BaFin rejects claims of insider trading in Daimler (DDAIF), Aston Martin (ARGGY) shares, FT says [more]
- Apollo Global (APO) to raise $500M for fund to invest in SPACs, Reuters reports [more]
4. MOVERS:
- Novavax (NVAX) increases after announcing its vaccine candidate is being studied in OCTAVE-DUO, now underway in the UK to evaluate the safety and immunogenicity of a third COVID-19 vaccine dose in participants with impaired immune systems [more]
- Moderna (MRNA) higher after completing the rolling submission process for its Biologics License Application to the FDA for the full licensure of Moderna COVID-19 Vaccine to prevent COVID-19 in individuals 18 years of age and older [more]
- Affirm (AFRM) gains after BofA analyst Jason Kupferberg raise the firm’s price target on the stock to $82 from $71 and keeps a Buy rating on the shares [more]
- Robinhood (HOOD) lower after The Wall Street Journal reported the company is currently facing backlash from other companies and scrutiny from regulators over the cost of delivering proxy materials to millions of new shareholders [more]
- Okta (OKTA) higher after Raymond James analyst Adam Tindle upgraded the stock to Strong Buy from Outperform with a price target of $310, up from $300 [more]
5. EARNINGS/GUIDANCE:
- Dick's Sporting Goods (DKS) reports Q2 earnings that handily beat analysts' estimates [more]
- Nordstrom (JWN) says Q2 revenue was still below pre-pandemic levels [more]
- Toll Brothers (TOL) reports Q3 EPS above analysts' estimates [more]
- Express (EXPR) reports an unexpected profit for Q2 [more]
- Urban Outfitters (URBN) earned $1.28 per share for Q2, beating the 78c consensus estimate [more]
INDEXES:
Near midday, the Dow was up 125.03, or 0.35%, to 35,492.19, the Nasdaq was up 16.48, or 0.11%, to 15,036.82, and the S&P 500 was up 13.90, or 0.31%, to 4,500.10.