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:
- Merck (MRK) agreed to acquire Acceleron (XLRN) for $180 per share in cash [more]
- Bed Bath & Beyond (BBBY) plunged after reporting downbeat Q2 results and cutting FY21 guidance [more]
- Perrigo (PRGO) resolved its Irish tax assessment for EUR297M [more]
- Virgin Galactic (SPCE) has been cleared to fly following the conclusion of an FAA inquiry [more]
- The ITC ruled that Philip Morris (PM) and Altria's (MO) IQOS products infringe two British American Tobacco (BTI) patents [more]
2. WALL STREET CALLS:
- Kohl's (KSS) double-downgraded to Underperform from Buy at BofA [more]
- Atlantic Equities downgrades Starbucks (SBUX) on wage inflation, China comps [more]
- Snowflake (SNOW) upgraded to Buy from Neutral at BTIG [more]
- JPMorgan upgrades Amicus (FOLD) to Overweight as Cowen says spin-out and profit potential make it a takeout target [more]
- Citi drops Alibaba (BABA) target, sees "increasing chance" of 2022 guidance cut [more]
3. AROUND THE WEB:
- Lordstown (RIDE) is nearing a deal to sell its Ohio plant to Foxconn (HNHPF), Bloomberg reports [more]
- Nintendo (NTDOY) and Zynga (ZNGA) have both denied a Bloomberg report saying 11 game studios were in possession of a 4K Switch development kit [more]
- The Supreme Court of California has rejected Oracle's (ORCL) appeal against a decision to award $3B in damages to HP Enterprise (HPE) in a case related to Itanium, The Register reports [more]
- The SEC is looking at trades made by Robinhood's (HOOD) Jim Swartwout, Fox Business' Charles Gasparino says [more]
- Morgan Stanley (MS) and Interactive Brokers (IBKR) are facing scrutiny in a Venezuela probe, WSJ reports [more]
4. MOVERS:
- Orion Group (ORN) rises after being awarded $192M in contracts [more]
- Dole (DOLE) up after seeing momentum on the WallStreetBets Reddit thread in terms of message volume this morning [more]
- Camber Energy (CEI) higher after being the highest trending name on StockTwits and is also in the top-5 on WallStreetBets Reddit thread in terms of message volume [more]
- Bit Digital (BTBT) falls after announcing an $80M private placement [more]
- CarMax (KMX) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- McCormick (MCK) reported upbeat Q3 results [more]
- Landec (LNDC) reiterated its FY22 revenue guidance [more]
- Intuit (INTU) reiterated its earnings and revenue guidance for Q1 and FY22 [more]
- Paychex (PAYX) provided a "beat and raise" report for Q1 [more]
- BMW (BMWYY) raised its EBIT margin outlook for its Automotive segment on pricing [more]
INDEXES:
The Dow fell 546.80, or 1.59%, to 33,843.92, the Nasdaq lost 63.86, or 0.44%, to 14,448.58, and the S&P 500 declined 51.92, or 1.19%, to 4,307.54.