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:
- Jack in the Box (JACK) agreed to acquire Del Taco (TACO) for $12.51 per share in cash in a deal valued at $575M, including debt [more]
- Engine Capital is urging Kohl's (KSS) to separate its e-commerce business and pursue a sale [more]
- Lucid Group (LCID) said it received a subpoena from the SEC on December 3 [more]
- Digital World Acquisition (DWAC), the SPAC that has agreed to merge with Trump Media, has received "fact-finding inquiries" from regulatory authorities including the SEC [more]
- Toyota (TM) plans to build a $1.29B electric vehicle battery plant in North Carolina [more]
2. WALL STREET CALLS:
- Rivian (RIVN) called "the one" to challenge Tesla as Wall Street analysts roll out coverage [more]
- HSBC upgrades Meta (MVRS) to Hold after 19% selloff from peak [more]
- Apple (AAPL) initiated with an Overweight rating, $191 price target at KeyBanc [more]
- Citi upgrades Electronic Arts (EA) to Buy, says most downside risk priced in [more]
- Chewy (CHWY) downgraded to Neutral, Petco (WOOF) upgraded to Outperform at Wedbush [more]
3. AROUND THE WEB:
- The SEC has opened a probe into Tesla (TSLA) over solar panel whistleblower claims, Reuters reports [more]
- Bitcoin dropped sharply during a weekend plunge, Reuters says [more]
- Apollo Global (APO) is dropping the pursuit of its bid for Metro Bank (MBNKF), Bloomberg reports [more]
- Discovery (DISCA) is in talks to create a joint venture with BT Sport, FT reports [more]
- Microsoft (MSFT) is raising Office prices for monthly subscribers by 20%, CNBC says [more]
4. MOVERS:
- Adicet Bio (ACET) surges after announcing interim data from the Phase 1 study of ADI-001 [more]
- GCP Applied Technologies (GCP) rises after agreeing to be acquired by Saint-Gobain (CODYY) for $32 per share [more]
- Alibaba (BABA) higher after saying Toby Xu will become its next CFO, succeeding Maggie Wu [more]
- Bolt Therapeutics (BOLT) lower after reporting interim data from its BDC-1001 Phase 1/2 trial [more]
- Reata (RETA) falls after the FDA released briefing docs for a meeting on bardoxolone [more]
5. EARNINGS/GUIDANCE:
- Ollie's Bargain Outlet (OLLI) provided downbeat FY21 earnings guidance [more]
- GH Research (GHRS) reported upbeat Q3 earnings [more]
- SAIC (SAIC) reported upbeat quarterly results [more]
- Byrna Technologies (BYRN) reported upbeat preliminary Q4 revenue [more]
- DLH Holdings (DLHC) reported mixed Q4 results [more]
INDEXES:
The Dow rose 646.95, or 1.87%, to 35,227.03, the Nasdaq gained 139.68, or 0.93%, to 15,225.15, and the S&P 500 advanced 53.24, or 1.17%, to 4,591.67.