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 in documents shared for an FDA review panel that data support the public health benefit of a booster dose of mRNA-1273 [more]
- American Airlines (AAL) said it expects to report a GAAP net profit in Q3 [more]
2. WALL STREET CALLS:
- Atlantic Equities upgrades Square (SQ) 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 (CTXS) 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]
- Nvidia's (NVDA) concessions offered to the EU for its proposed takeover of ARM failed to address competition concerns, Reuters reports [more]
- Bristol-Myers (BMY) considered a takeover offer for Acceleron (XLRN) to but decided against it over price, Bloomberg 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) higher 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 used in the 2-18 year old age group [more]
- Revance (RVNC) drops after the FDA posted a form 483 to its website related to observations made by FDA staff during an inspection of a company facility [more]
- Hecla Mining (HL) declines after reporting preliminary third quarter silver production [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) reported upbeat preliminary Q3 revenue [more]
INDEXES:
The Dow fell 117.72, or 0.34%, to 34,378.34, the Nasdaq lost 20.28, or 0.14%, to 14,465.93, and the S&P 500 declined 10.54, or 0.24%, to 4,350.65.