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's (FB) Instagram pausing work on "Instagram Kids" [more]
- Blackstone (BX) agreed to sell The Cosmopolitan of Las Vegas to MGM resorts (MGM) for $1.625B [more]
- High-performance electric car maker Polestar (PSNY) will go public via a merger with Gores Guggenheim (GGPI) [more]
- GSK (GSK) and Vir (VIR) received Japanese approval for Xevudy, a monoclonal antibody for COVID treatment [more]
- Apple (AAPL) and Tesla (TSLA) suppliers halted production at Chinese facilities, Nikkei reports [more]
2. WALL STREET CALLS:
- Lordstown Motors (RIDE) downgraded to Sell from Neutral at Goldman Sachs [more]
- Airbnb (ABNB) initiated with a Neutral at JPMorgan [more]
- Altice USA (ATUS) downgraded to Market Perform from Outperform at Raymond James and cut to Neutral from Outperform at Credit Suisse [more]
- Morgan Stanley cuts Amazon (AMZN) target to $4,100 on rising wage pressure [more]
- Goldman Sachs analyst Mark Delaney lowered the firm's price target on General Motors (GM) as well as lowering his earnings estimates for a number of auto suppliers and lidar companies to reflect a reduced production outlook [more]
3. AROUND THE WEB:
- Acceleron (XLRN) is in advanced talks to be acquired for about $180 per share, Bloomberg reports [more]
- Humana (HUM) claims it overpaid for Biogen's (BIIB) MS drugs, Bloomberg says [more]
- Deutsche Bank's (DB) asset management unit ignored calls to use ESG data, WSJ reports [more]
- Credit Suisse (CS) plans to return about $400M to investors in funds that invested in Greensill products, Bloomberg reports [more]
- Google (GOOGL) is seeking to overturn the EU's $5B antitrust decision, WSJ says [more]
4. MOVERS:
- Red Cat (RCAT) surges after its subsidiary, Skypersonic, was awarded a five-year contract with NASA to provide drone and rover software, hardware and support for its Simulated Mars mission [more]
- Aspen Group (ASPU) rises after announcing that board member Douglas Kass bought 32,000 shares of common stock on September 22 in a total transaction size of $172,000 [more]
- Vinco Ventures (BBIG) higher as the stock is the highest trending ticker on StockTwits and is also in the top-10 on WallStreetBets Reddit thread in terms of message volume over the past 24 hours [more]
- Aslan Pharmaceuticals (ASLN) falls after announcing topline data from its multiple-ascending-dose Phase 1 study of ASLAN004 for the treatment of moderate-to-severe atopic dermatitis [more]
- Capricor Therapeutics (CAPR) lower after announcing final data from the HOPE-2 clinical trial using CAP-1002 to treat patients in advanced stages of Duchenne muscular dystrophy [more]
5. EARNINGS/GUIDANCE:
- SeaSpine (SPNE) provided Q3 revenue guidance but withdrew its FY21 guidance [more]
- iBio (IBIO) reported year-over-year growth in earnings in 2021 [more]
- Prime Mining (PRMNF) reported quarterly earnings [more]
- JinkoSolar (JKS) provided Jiangxi Jinko revenue for nine months as part of process of applying for an IPO of the subsidiary on the Sci-Tech innovation board [more]
- Puyi (PUYI) reported 2021 results [more]
INDEXES:
Near midday, the Dow was up 138.00, or 0.40%, to 34,936.00, the Nasdaq was down 111.50, or 0.74%, to 14,936.20, and the S&P 500 was down 12.11, or 0.27%, to 4,443.37.