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:
- The FDA has approved Pfizer (PFE) and BioNTech's (BNTX) COVID-19 vaccine booster for certain populations [more]
- Dell Technologies (DELL) announced approval of a $5B share repurchase plan and guided for 3%-4% CAGR through FY26 [more]
- GE (GE) will acquire advanced surgical visualization firm BK Medical for $1.45B [more]
- Salesforce (CRM) raised its FY22 revenue guidance ahead of its investor day presentation [more]
- Darden (DRI) provided a "beat and raise" report for Q1 [more]
2. WALL STREET CALLS:
- Tudor Pickering Holt says sell Tesla (TSLA), buy Fisker (FSR) as firm rolls out EV coverage [more]
- Roku (ROKU) upgraded to Buy on "robust" connected TV growth at Guggenheim [more]
- L3Harris Technologies (LHX) and Woodward (WWD) downgraded to Sell at Goldman Sachs amid defense sector ratings shake-up [more]
- Morgan Stanley downgrades Trimble (TRMB) to Underweight, sees near-term overestimated [more]
- JPMorgan downgrades Vipshop (VIPS) to Neutral despite 50% share correction [more]
3. AROUND THE WEB:
- MGM Resorts (MGM) is unlikely to bid for all of Entain (GMVHF), Bloomberg reports [more]
- Facebook (FB) has been ordered to hand over records on shut down Myanmar accounts, WSJ says [more]
- California Governor Gavin Newsom signed a law taking aim at Amazon (AMZN) quotas, WSJ reports [more]
- Apple (AAPL) CEO Tim Cook said that memo leakers "do not belong" at Apple, Verge says [more]
- Apple will give store workers bonuses of up to $1,000, Bloomberg reports [more]
4. MOVERS:
- PAVmed (PAVM) jumps after subsidiary Lucid Diagnostics (LUCD) filed for a proposed IPO [more]
- Joby Aviation (JOBY) rises after Morgan Stanley anlayst Kristine Liwage initiated coverage of Joby with an Overweight rating [more]
- Eargo (EAR) sinks after disclosing a DOJ criminal investigation [more]
- Synlogic (SYBX) falls after a 15M share secondary offering [more]
- Steelcase (SCS) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Rite Aid (RAD) cut its FY22 adjusted earnings guidance [more]
- BlackBerry (BB) reported Q2 results that sent stock higher, but TD analyst called "low-quality" [more]
- Brink's (BCO) lowered its 2021 revenue guidance [more]
- Accenture (ACN) provided Q1 and FY22 guidance after a mixed Q4 report [more]
- KB Home (KBH) reported downbeat Q3 results [more]
INDEXES:
Near midday, the Dow was up 554.95, or 1.62%, to 34,813.27, the Nasdaq was up 138.78, or 0.93%, to 15,035.63, and the S&P 500 was up 57.95, or 1.32%, to 4,453.59.