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:
- Tele2 and Deutsche Telekom (DTEGY) have agreed to sell T-Mobile Netherlands to funds advised by Apax Partners and Warburg Pincus for an enterprise value of EUR5.1B while SoftBank Group (SFTBY) entered into a strategic partnership and equity share swap agreement with Deutsche Telekom for 45M T-Mobile US (TMUS) shares [more]
- Disney's (DIS) latest superhero film "Shang-Chi" came in first place at the box office with a four day gross of $90M, a boon for theater operators like AMC (AMC) [more]
- Ryanair (RYAAY) has ended talks with Boeing (BA) for a MAX10 order without any deal on pricing [more]
- State Street (STT) will acquire Brown Brothers Harriman Investor Services for $3.5B [more]
- Intel (INTC) intends to build new chip manufacturing facilities in Europe [more]
2. WALL STREET CALLS:
- Spotify (SPOT) upgraded to Overweight from Sector Weight at KeyBanc [more]
- Netflix (NFLX) price target raised to "Street-high" $780 at Atlantic Equities [more]
- Cirrus Logic (CRUS) upgraded to Overweight from Equal Weight at Barclays [more]
- Morgan Stanley cuts Vertex Pharmaceuticals (VRTX), Genmab (GMAB) to Underweight ratings amid portfolio reallocation [more]
- N-able (NABL) started with Outperform on "multiple" growth avenues at William Blair [more]
3. AROUND THE WEB:
- KKR (KKR) is in talks over a potential Zooplus (ZLPSF) takeover, Bloomberg says [more]
- Toyota (TM) is set to spend $13.6B in battery development and supply, FT reports [more]
- The Apple Watch Series 7 (AAPL) may ship late or in limited quantities, Bloomberg reports [more]
- Nvidia (NVDA) is facing opposition from EU officials over its $54B plan to acquire Arm, FT says [more]
- Pfizer (PFE) CEO Albert Bourla sees having enough COVID-19 vaccines to meet WHO's goal, FT reports [more]
4. MOVERS:
- Adaptimmune (ADAP) jumps after entering into a collaboration with Roche's (RHHBY) Genentech over allogeneic T-cell therapies [more]
- Match Group (MTCH) rises after being named to join the S&P 500 [more]
- Pliant Therapeutics (PLRX) higher after the company reported interim results from its Phase 2a PET Imaging trial [more]
- Washington Prime (WPG) slips after announcing its intention to delist its common stock from NYSE [more]
- Jaguar Health (JAGX) lower after announcing a 1-for-3 reverse stock split [more]
5. EARNINGS/GUIDANCE:
- Centogene (CNTG) sees overall FY21 revenue surpassing FY20 revenue [more]
- Callaway Golf (ELY) raised its revenue guidance for Q3 and FY21 [more]
- PPG (PPG) withdrew its guidance for Q3 and 2021 due to supply disruptions [more]
- Qutoutiao (QTT) reported year-over-year growth in Q2 earnings [more]
- Absci (ABSI) reported a year-over-year decline in Q2 earnings [more]
INDEXES:
The Dow fell 269.09, or 0.76%, to 35,100.00, the Nasdaq gained 10.81, or 0.07%, to 15,374.33, and the S&P 500 declined 15.40, or 0.34%, to 4,520.03.