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:
- Zillow (Z) suspends signing of new contracts through 2021 in Offers home buying business [more]
- CDW (CDW) to acquire Sirius Computer Solutions for $2.5B in cash [more]
- Toyota (TM) to invest $3.4B in batteries through 2030, build new battery plant [more]
- Apple (AAPL) is holding a virtual "Unleashed" event at 1 pm [more]
- Macy's (M) jumps as Saks e-commerce unit said to triple in value [more]
2. WALL STREET CALLS:
- Barclays downgrades Disney (DIS) to Equal Weight on slowing of streaming growth [more]
- Virgin Galactic (SPCE)downgraded to Sell from Neutral at UBS [more]
- Medtronic (MDT) growth pathway now "a little riskier," says Piper Sandler [more]
- Infinera (INFN) downgraded to Underweight on supply chain risk at JPMorgan [more]
- NetApp (NTAP) downgraded to Sell from Neutral at Goldman Sachs [more]
3. AROUND THE WEB:
- Netflix (NFLX) is estimating that "Squid Game" will be worth almost $900M, Bloomberg reports [more]
- Saks e-commerce unit has begun IPO preparations, WSJ reports [more]
- Alibaba (BABA) is planning to launch its own cloud server chip, Caixin Global says [more]
- Goldman Sachs (GS) received approval of full ownership of its China venture, FT reports [more]
- Prescience Point announced a long position in AerSale (ASLE) with a $45 target [more]
4. MOVERS:
- Peabody Energy (BTU) higher after releasing its third quarter revenue guidance [more]
- Antero Resources (AR) rises after Mizuho analyst Vincent Lovaglio upgraded the stock to Buy from Neutral with a price target of $32 [more]
- Omeros (OMER) declines after receiving a Complete Response Letter from the FDA regarding its Biologics License Application for narsoplimab in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy [more]
- MannKind (MNKD) lower after announcing the FDA issued a complete response to United Therapeutics (UTHR) regarding the New Drug Application for Tyvaso DPI for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease [more]
- Latch (LTCH) falls after Goldman Sachs analyst Rod Hall downgraded the stock to Neutral from Buy with a price target of $10, down from $16 [more]
5. EARNINGS/GUIDANCE:
- State Street (STT) reported upbeat Q3 results [more]
- Albertsons (ACI) provided a "beat and raise" report for Q2 [more]
- Clarus (CLAR) raised its FY21 revenue guidance [more]
- LHC Group (LHCG) reported downbeat Q3 results [more]
- Middlefield Banc (MBCN) reported better than expected Q3 earnings [more]
INDEXES:
Near midday, the Dow was down 32.46, or 0.09%, to 35,262.30, the Nasdaq was up 65.58, or 0.44%, to 14,962.92, and the S&P 500 was up 7.58, or 0.17%, to 4,478.95.