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:
- Lordstown Motors (RIDE) appoints Daniel Ninivaggi as CEO [more]
- Williams-Sonoma (WSM) raises quarterly dividend by 20% to 71c per share [more]
- Amneal Pharmaceuticals (AMRX) said a Parkinson's drug trial met its its main goal, supporting plans for a new drug application [more]
- NRx Pharmaceuticals (NRXP) signs agreement with Cardinal Health (CAH) to provide third party logistics and distribution of Zyesami upon the potential Emergency Use Authorization approval by the FDA [more]
- J.M. Smucker (SJM) CEO sees higher raw material, logistics cost increases near term [more]
2. WALL STREET CALLS:
- Zoom Video (ZM) upgraded to Overweight from Equal Weight at Morgan Stanley [more]
- JPMorgan's Tusa double downgrades Pentair (PNR) to sell on valuation [more]
- SelectQuote (SLQT) downgraded to Sector Perform from Outperform at RBC Capital [more]
- Nordstrom (JWN) downgraded at Morgan Stanley with 2022 EPS consensus 'unachievable' [more]
- Dick's Sporting (DKS) upgraded to Market Perform from Underperform at Raymond James [more]
3. AROUND THE WEB:
- T-Mobile (TMUS) hacker calls company's security 'awful,' WSJ reports [more]
- TSMC (TSM) to increase chip prices by up to 20%, WSJ reports [more]
- Facebook (FB) considers forming commission on election-related decisions, NYT reports [more]
- JD.com (JD) in talks to buy controlling stake in China Logistics, Bloomberg says [more]
- Microsoft (MSFT) hires former top Amazon (AMZN) Cloud executive Charlie Bell, WSJ reports [more]
4. MOVERS:
- BeyondSpring (BYSI) increases after announcing an exclusive commercialization and co-development agreement in Greater China with Juangsu Hengrui Pharmaceuticals for the company’s investigational drug candidate plinabulin [more]
- Inovio Pharmaceuticals (INO) higher after receiving regulatory authorization from Brazil’s ANVISA to initiate the global Phase 3 segment of its Phase 2/3 trial for INO-4800 [more]
- Veon (VEON) gains in New York after BofA analyst Cesar Tiron upgraded the stock to Buy from Underperform with a $2.70 price target [more]
- Doximity (DOCS) lower after JPMorgan analyst Jackson Ader downgraded the stock to Neutral from Overweight with an unchanged price target of $70 [more]
- Yatsen (YSG) falls in New York after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Salesforce (CRM) beats expectations for Q2, issues upbeat outlook [more]
- Abercrombie & Fitch (ANF) said Q2 sales missed analysts' estimates as digital revenue fell [more]
- Dollar General (DG) raises FY21 EPS view to $9.60-$10.20 from $9.50-$10.20 [more]
- Coty (COTY) targets FY22 LFL sales growth in the low teens [more]
- Dollar Tree (DLTR) said Q2 EPS beat consensus estimates, though revenue was below analysts' expectations [more]
INDEXES:
Near midday, the Dow was down 72.24, or 0.2%, to 35,333.26, the Nasdaq was down 48.87, or 0.32%, to 14,993.00, and the S&P 500 was down 15.84, or 0.35%, to 4,480.24.