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:
- Square (SQ) is changing its company name to Block, but holding onto the Square brand [more]
- Dollar General (DG) reported upbeat quarterly results and raised its share repurchase authorization by $2B [more]
- Okta (OKTA) provided a "beat and raise" report for Q3 [more]
- Snowflake (SNOW) reported upbeat Q3 revenue [more]
- Five Below (FIVE) beat sales and earnings expectations in Q3 [more]
2. WALL STREET CALLS:
- Okta (OKTA) upgraded to Overweight from Neutral at Piper Sandler [more]
- Citi upgrades Snowflake (SNOW) with $470 target following Q3 report [more]
- Wedbush sees $3 trillion market cap for Apple (AAPL) in 2022, ups price target to $200 [more]
- Amazon.com (AMZN) assumed with a Buy at UBS [more]
- C3.ai (AI) downgraded to Underperform at BofA after "disappointing" Q2 report [more]
3. AROUND THE WEB:
- Apple (AAPL) will convey to suppliers that iPhone 13 demand is slowing, Bloomberg says [more]
- China issued an airworthiness directive for the Boeing (BA) 737 MAX, WSJ reports [more]
- Bear Cave sees "problems" at Redwire (RDW) amid the company's inability to file its first 10-Q [more]
- Pfizer (PFE) exec believes its COVID vaccine will hold against omicron, Bloomberg says [more]
- Canada Goose (GOOS) employees have voted to unionize in Winnipeg, NY Times reports [more]
4. MOVERS:
- Clarivate (CLVT) gains after announcing executive VP and CFO Richard Hanks is leaving [more]
- Kroger (KR) higher after reporting quarterly results [more]
- Katapult (KPLT) down after providing interim data on its gross originations [more]
- MEI Pharma (MEIP) declines after announcing a 17.5M share offering priced at $2.60 [more]
- Elastic (ESTC) and C3.ai (AI) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- 3M (MMM) sees Q4 organic growth in the bottom half of its previously provided guidance [more]
- Geo Group (GEO) cut its FY21 adjusted FFO guidance [more]
- Kirkland's (KIRK) reported downbeat Q3 results [more]
- Land's End (LE) cut its FY21 earnings and revenue guidance [more]
- Methode Electronics (MEI) reported upbeat Q2 results [more]
INDEXES:
Near midday, the Dow was up 620.62, or 1.82%, to 34,642.66, the Nasdaq was up 93.78, or 0.61%, to 15,347.83, and the S&P 500 was up 63.29 ,or 1.40%, to 4,576.33.