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:
- Signet Jewelers (SIG) will acquire Diamonds Direct for $490M in cash [more]
- General Motors (GM) and LG Electronics reach an agreement on Bolt EV recall costs [more]
- CureVac (CVAC) will withdraw its CVnCoV COVID-19 vaccine candidate and will instead focus on an mRNA vaccine [more]
- Moderna (MRNA) said Covax will buy 176.5M more doses of its COVID-19 vaccine for low-income countries [more]
- American Airlines (AAL) said it expects to report a GAAP net profit in Q3 [more]
2. WALL STREET CALLS:
- Atlantic Equities upgrades Square to Overweight on "substantial" growth potential [more]
- Nike (NKE) initiated with a Buy at Goldman Sachs [more]
- Cowen ups Airbnb (ABNB) to Outperform, sees shift to alternative lodging as permanent [more]
- MGM Resorts (MGM) upgraded to Outperform from Neutral at Credit Suisse [more]
- William Blair downgrades Citrix to Market Perform on "dire and deteriorating situation" [more]
3. AROUND THE WEB:
- GlaxoSmithKline's (GSK) consumer unit is drawing interest from private equity firms, Bloomberg reports [more]
- EU antitrust regulators are expected to approve S&P Global's (SPGI) proposed $44B takeover of IHS Markit (INFO), Reuters reports [more]
- Merck (MRK) plans to double capacity for Covid-19 pill, FT reports [more]
- Liberty Global (LBTYA) is weighing the sale of 3,000 Belgium towers, Bloomberg says [more]
- Another Facebook (FB) whistleblower is willing to testify, CNN reports [more]
4. MOVERS:
- R.R. Donnelley & Sons Company (RRD) rises after Chatham Asset Management, a private investment firm that owns approximately 14.9% of the company, offered to acquire all the common stock of the company it does not already own for $7.50 [more]
- Tiptree Financial (TIPT) increases after announcing a $200M strategic investment in its insurance subsidiary, The Fortegra Group, from Warburg Pincus [more]
- Ocugen (OCGN) higher after Moneycontrol.com reported the Subject Expert Committee has submitted a recommendation to the Drugs Controller General of India endorsing an emergency use authorization of the COVID vaccine Covaxin to be use in the 2-18 year old age group [more]
- Hecla Mining (HL) declines after reporting preliminary third quarter silver production [more]
- Umpqua Holdings (UMPQ) falls after entering a definitive agreement with Columbia Banking System (COLB) under which the companies will join tougher in an all-stock combination [more]
5. EARNINGS/GUIDANCE:
- Matson (MATX) provided upbeat Q3 earnings guidance [more]
- InMode (INMD) provided Q3 and FY21 guidance [more]
- Fastenal (FAST) reported Q3 earnings and revenue [more]
- Berkeley Lights (BLI) provided upbeat Q3 revenue guidance [more]
- Avantor (AVTR) rpeorted upbeat preliminary Q3 revenue [more]
INDEXES:
Near midday, the Dow was up 86.78, or 0.25%, to 34,582.84, the Nasdaq was up 39.61, or 0.27%, to 14,525.81, and the S&P 500 was up 10.74, or 0.25%, to 4,371.93.