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:
- Barclays (BCS) CEO Jes Staley stepped down following an Epstein probe [more]
- Moderna (MRNA) said the FDA needs more time to complete a review of its COVID-19 shot for teens [more]
- Coca-Cola (KO) acquired full ownership of BodyArmor, buying the remaining stake it didn't own for $5.6B in cash [more]
- Comtech (CMTL) confirmed receipt of an unsolicited takeover proposal from Acacia Research (ACTG) [more]
- PG&E (PCG) reported quarterly results, noting it recorded a $1.15B liability in Q3 related to the Dixie fire [more]
2. WALL STREET CALLS:
- Stephens upgrades Starbucks (SBUX) to Overweight, calls viewing recently announced wage hikes as a negative "shortsighted" [more]
- Shake Shack (SHAK) upgraded to Buy from Hold at Truist [more]
- Crowdstrike (CRWD) downgraded to Neutral from Buy at BTIG [more]
- BofA cuts Lockheed Martin (LMT) to Neutral on slowing growth, "inconsistent" strategy [more]
- Northland downgrades AMD (AMD) on slowing growth, upgrades Intel (INTC) on foundry chances [more]
3. AROUND THE WEB:
- Digital Currency Group is selling shares to SoftBank (SFTBY) and Google (GOOGL) in a deal valuing the crypto conglomerate at over $10B, CNBC says [more]
- A German labor union called for strikes at seven Amazon (AMZN) sites, Reuters reports [more]
- WSJ reports on Roblox (RBLX) outage late last week that continued through Sunday afternoon [more]
- Snapchat (SNAP) reached an audio clip deal with Comcast's (CMCSA) NBCUniversal, THR reports [more]
- Rivian Automotive (RIVN) is targeting a valuation just above $60B in its IPO next week, WSJ says [more]
4. MOVERS:
- ANI Pharmaceuticals (ANIP) increases after reporting quarterly results and announcing the FDA approved the company’s sNDA for Purified Cortrophin Gel [more]
- Novavax (NVAX) rises after filing for Health Canada authorization of its COVID-19 vaccine candidate and saying submission of all modules required for regulatory review are now complete for European Medicines Agency [more]
- Harley Davidson (HOG) higher after the U.S. and EU ended a dispute over steel and aluminum tariffs [more]
- Lithium Americas (LAC) down after submitting an unconditional offer to acquire Millennial Lithium for C$4.70 per share [more]
- Centessa (CNTA) falls after announcing proof-of-mechanism data from its Phase 1 study of ZF874 [more]
5. EARNINGS/GUIDANCE:
- Franklin Resources (BEN) reported preliminary Q4 results and agreed to acquire Lexington Partners for $1.75B [more]
- Kulicke & Soffa (KLIC) provided upbeat Q4 revenue guidance [more]
- Alexander's (ALX) reported downbeat Q3 FFO [more]
- ON Semiconductor (ON) reported upbeat Q3 results [more]
- Essential Utilities (WTRG) reported downbeat Q3 results [more]
INDEXES:
The Dow rose 94.28, or 0.26%, to 35,913.84, the Nasdaq gained 97.53, or 0.63%, to 15,595.92, and the S&P 500 advanced 8.29, or 0.18%, to 4,613.67.