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:
- Pfizer (PFE) and BioNTech (BNTX) submitted data to the FDA from their COVID-19 vaccine trial in children [more]
- Sanofi (SNY) won't proceed with the development of mRNA-based COVID-19 vaccine candidate, continues its efforts in fight against pandemic with its adjuvanted recombinant protein candidate vaccine [more]
- Ford (F) intends to build two new campuses in Tennessee and Kentucky as part of its electric vehicle push [more]
- Endeavor Group (EDR) agreed to buy OpenBet from Scientific Games (SGMS) for $1.2B in cash and stock [more]
- Activision Blizzard (ATVI) reached an agreement with the EEOC to settle workplace discrimination claims [more]
2. WALL STREET CALLS:
- Wells Fargo (WFC) downgraded to Equal Weight from Overweight at Morgan Stanley [more]
- Morgan Stanley (MS) downgraded to Hold on valuation at Berenberg [more]
- Piper Sandler expects "strongest quarter ever" coming from Tesla (TSLA) in Q3 [more]
- Microchip (MCHP) downgraded to Equal Weight at Wells Fargo [more]
- Coinbase (COIN) initiated with an Outperform at JMP Securities [more]
3. AROUND THE WEB:
- Merck (MRK) is in advanced talks to acquire Acceleron (XLRN), WSJ reports [more]
- Blue Orca Capital said it is short Hyzon Motors (HYZN) [more]
- AMD (AMD) CEO sees the global chip shortage being "less severe" in second half of next year, CNBC says [more]
- JPMorgan (JPM) CEO Jamie Dimon told Reuters the bank is preparing for the possibility of a U.S. credit default [more]
- CyrusOne (CONE) is exploring alternatives, including a potential sale, Reuters reports [more]
4. MOVERS:
- Gogo (GOGO) rises after raising fiscal year 2025 compound annual revenue growth target to 15% from at least 10% [more]
- Huntsman (HUN) up after Starboard Value disclosed 8.4% activist stake [more]
- Marathon Oil (MRO) higher after Citi analyst Scott Gruber upgraded the stock to Buy with a price target of $17 [more]
- Altimmune (ALT) lower after announcing results from a 12-week, Phase 1 trial of pemvidutide [more]
- Peloton (PTON) slips after Amazon (AMZN) announced Halo Fitness [more]
5. EARNINGS/GUIDANCE:
- United Natural Foods (UNFI) reported upbeat Q4 earnings [more]
- Thor Industries (THO) reported better than expected Q4 results [more]
- Digital Brands (DBGI) provided FY22 revenue guidance [more]
- Hain Celestial (HAIN) provided guidance at its investor day meeting [more]
- Curo Group (CURO) guided to weaker-than-expected 3Q adjusted EPS, but better-than-expected 2023 adjusted EPS [more]
INDEXES:
The Dow fell 569.38, or 1.63%, to 34,299.99, the Nasdaq lost 423.29, or 2.83%, to 14,546.68, and the S&P 500 declined 90.48, or 2.04%, to 4,352.63.