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:
- PepsiCo (PEP) reported upbeat Q3 earnings and revenue [more]
- Johnson & Johnson (JNJ) has submitted data in support of a COVID-19 booster shot to the FDA [more]
- Following an hourslong outage yesterday, Facebook (FB) CTO Mike Schroepfer said that it "may take some time" for the company's platforms and services to get to 100% functionality [more]
- Southwest (LUV) will require all of its employees to become vaccinated against COVID-19 in cooperation with President Biden's COVID Action Plan [more]
- Lululemon's (LULU) board of directors approved a $500M increase to the company's share repurchase program [more]
2. WALL STREET CALLS:
- Albertsons (ACI), Sprouts Farmers Market (SFM) cut to Underperform at BMO Capital [more]
- Lordstown Motors (RIDE) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- CommScope (COMM) downgraded to Neutral from Outperform at Credit Suisse [more]
- Snap (SNAP) remained favorite app among teens in Piper's semi-annual survey [more]
- Clearway Energy (CWEN) upgraded to Outperform from In Line at Evercore ISI [more]
3. AROUND THE WEB:
- Southwest Gas (SWX) is nearing a deal to buy Dominion's (D) Questar, Reuters reports [more]
- Meanwhile, Carl Icahn has taken a significant stake in Southwest Gas and is pushing the company to abandon the Questar deal, WSJ says [more]
- Kerrisdale Capital said it is short Camber Energy (CEI) [more]
- Invesco (IVZ) and State Street (STT) are in talks to merge asset management operations, FT reports [more]
- Tesla (TSLA) has accused Rivian of stealing trade secrets, Bloomberg reports [more]
4. MOVERS:
- Hyzon Motors (HYZN) rises after issuing a statement that said the short seller report by Blue Orca released late September was “inaccurate and misleading” [more]
- SmileDirectClub (SDC) increases after announcing the United States Patent & Trademark Office will issue a patent on the company’s SmileBus concept [more]
- Agrify (AGFY) higher after acquiring Precision Extraction Solutions and Cascade Science [more]
- UpHealth (UPH) lower after announcing a 23M share offering priced at $1.75 [more]
- Atea Pharmaceuticals (AVIR) falls after Morgan Stanley analyst Matthew Harrison downgraded the stock to Equal Weight from Overweight with a $55 price target [more]
5. EARNINGS/GUIDANCE:
- Comtech (CMTL) reported lower than expected Q4 results [more]
- Duckhorn Portfolio (NAPA) reported upbeat Q4 results [more]
- Biohaven Pharmaceuticals (BHVN) provided Q3 NURTEC ODT product revenue guidance [more]
- Booz Allen (BAH) reaffirmed FY22 adjusted earnings guidance [more]
- Sandstorm Gold (SAND) reported preliminary Q3 revenue [more]
INDEXES:
Near midday, the Dow was up 466.06, or 1.37%, to 34,468.98, the Nasdaq was up 230.36, or 1.62%, to 14,485.84, and the S&P 500 was up 64.98, or 1.51%, to 4,365.44.