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:
- UnitedHealth (UNH) provided a "beat and raise" report for Q3 [more]
- Walgreens Boots Alliance (WBA) reported upbeat Q4 results and made a $5.2B investment in VillageMD [more]
- Big banks including Citi (C), Morgan Stanley (MS), Wells Fargo (WFC), and Bank of America (BAC) all reported quarterly results this morning [more]
- An FDA panel unanimously recommended support for a booster shot of Moderna's (MRNA) COVID-19 vaccine [more]
- Icahn Enterprises (IEP) to start tender offer for Southwest Gas (SWX) at $75 per share [more]
2. WALL STREET CALLS:
- UPS (UPS) upgraded to Buy from Hold at Stifel [more]
- Morgan Stanley downgrades Avis (CAR) to sell on "premature" multiple re-rating [more]
- Morgan Stanley downgrades Wayfair (W) to sell on declining near term sales [more]
- Bed Bath & Beyond (BBBY) cut to sell-equivalent rating at Morgan Stanley ahead of category declines [more]
- BTIG analyst Mark Palmer is bullish on Coinbase (COIN) after an "emphatic reaction" to its NFT marketplace plans [more]
3. AROUND THE WEB:
- TSMC (TSM) plans to build a new chip plant in Japan, WSJ reports [more]
- Boeing (BA) has found flaws with fasteners in certain 787 jets, Bloomberg reports [more]
- McDonald's (MCD) will test a meatless McPlant burger in eight U.S. restaurants, CNBC says [more]
- Jana Partners is urging Macy's (M) to spin off its e-commerce unit, WSJ reports [more]
- Ford (F) will halt production at its Hermosillo plant on Friday due to a materials shortage, Reuters reports [more]
4. MOVERS:
- NRx Pharmaceuticals (NRXP) surges after publishing results form its aviptadil trial in patients with critical COVID-19 [more]
- Helbiz (HLBZ) rises after reaching an agreement with the National Football League to broadcast NFL content throughout Italy [more]
- Horizon Acquisition (HZAC) higher after announcing a PIPE investment by DraftKings (DKNG) [more]
- Codexis (CDXS) falls after revealing Pfizer (PFE) as a recent customer [more]
- Acadia (ACAD) lower after Morgan Stanley analyst Jeffrey Hung downgraded the stock to Equal Weight [more]
5. EARNINGS/GUIDANCE:
- OrthoPediatrics (KIDS) provided conservative revenue guidance for Q3 [more]
- Progressive (PGR) reported downbeat Q3 earnings [more]
- Heartland Express (HTLD) reported upbeat Q3 earnings [more]
- Domino's Pizza (DPZ) reported lower than expected Q3 sales [more]
- U.S. Bancorp (USB) reported better than expected Q3 results [more]
INDEXES:
The Dow rose 534.75, or 1.56%, to 34,912.56, the Nasdaq gained 251.80, or 1.73%, to 14,823.43, and the S&P 500 advanced 74.46, or 1.71%, to 4,438.26.