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:
- U.S. President Joe Biden is re-nominating Jay Powell as Chair of the Federal Reserve [more]
- Ericsson (ERIC) agreed to acquire Vonage (VG) for $21 per share or $6.2B in cash [more]
- Avaya (AVYA) reported upbeat Q4 results [more]
- Tesla (TSLA) CEO Elon Musk said the car maker should launch the Model S Plaid in China "probably around March" [more]
- Walmart (WMT) will be the first retailer to test Twitter's (TWTR) livestream shopping platform [more]
2. WALL STREET CALLS:
- Activision Blizzard (ATVI) downgraded to Sell from Neutral at MKM Partners [more]
- GlobalFoundries (GFS) shares rise as Wall Street rolls out coverage [more]
- Blink Charging (BLNK) downgraded to Market Perform from Outperform at Cowen [more]
- Teladoc (TDOC) downgraded to Neutral from Buy at BTIG [more]
- Xcel Energy (XEL) upgraded to Outperform from Market Perform at BMO Capital [more]
3. AROUND THE WEB:
- Monster Beverage (MNST) is exploring a combination with Constellation (STZ), Bloomberg reports [more]
- Activision Blizzard (ATVI) CEO Bobby Kotick said he would consider leaving, WSJ says [more]
- Apple (AAPL) won't be able to deliver iPads in time for Christmas in Asia, Nikkei reports [more]
- Meta (MVRS) is delaying encrypted messages on Facebook (FB) and Instagram to 2023, Telegraph reports [more]
- An FAA memo indicates more issues with Boeing's (BA) 787 Dreamliner, Seattle Times reports [more]
4. MOVERS:
- Astra (ASTR) surges after completing its first commercial orbital launch for the U.S. Space Force [more]
- Provention Bio (PRVB) rises after the FDA approved the company proceeding to populate the popPK model for its teplizumab commercial product [more]
- XPeng (XPEV) higher after unveiling a new G9 smart SUV [more]
- Rivian Automotive (RIVN) falls after after Ford (F) CEO Jim Farley told Automotive News on Friday that the car maker no longer intends to make an electric vehicle with the company [more]
- Aurinia Pharmaceuticals (AUPH) lower after it filed a prospectus agreement to sell shares [more]
5. EARNINGS/GUIDANCE:
- Cerence (CRNC) reported upbeat Q4 results [more]
- Elys Game Technology (ELYS) reported downbeat Q3 revenue [more]
- Quipt Home Medical (QIPT) reiterated its outlook for calendar end 2022 [more]
- Paragon 28 (FNA) reported upbeat Q3 revenue [more]
- Twist Bioscience (TWST) provided revenue guidance for Q1 and FY22 [more]
INDEXES:
The Dow rose 17.27, or 0.049%, to 35,619.25, the Nasdaq lost 202.68, or 1.26%, to 15,854.76, and the S&P 500 declined 15.02, or 0.32%, to 4,682.94.