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:
- CVS Health (CVS) raised its FY21 earnings and revenue guidance and authorized a $10B share repurchase program [more]
- Hormel Foods (HRL) reported better than expected Q4 sales and earnings [more]
- GameStop (GME) reported a wider than expected Q3 loss [more]
- Rent The Runway (RENT) provided better than expected revenue guidance for Q4 and FY21 [more]
- Ciena (CIEN) reported upbeat Q4 revenue and authorized a $1B share repurchase program [more]
2. WALL STREET CALLS:
- Southwest (LUV) downgraded to Hold at Jefferies on lower operating leverage [more]
- AMD (AMD) downgraded to Hold from Buy at Erste Group [more]
- EVgo (EVGO) initiated with an Overweight at JPMorgan [more]
- FuboTV (FUBO) initiated with an Overweight at JPMorgan [more]
- Nuvei (NVEI) upgraded to Outperform at BMO Capital day after short-seller driven slide [more]
3. AROUND THE WEB:
- Starbucks (SBUX) workers in Buffalo, New York will soon learn the results of their union vote, FT reports [more]
- Viatris (VTRS) and India's Biocon are in talks to merge their biosimilars businesses, Moneycontrol says [more]
- This week's massive Amazon Web Services (AMZN) outage could lead to shipping delays ahead of the holidays, Business Insider says [more]
- U.S. senators said that Instagram (FB;MVRS) and other social-media apps need more regulation, WSJ reports [more]
- Apple's (AAPL) self-driving car project loses three more key engineers, Bloomberg reports [more]
4. MOVERS:
- Heron Therapeutics (HRTX) gains after announcing the U.S. FDA approved its supplemental New Drug Application for Zynrelef [more]
- Aurinia Pharmaceuticals (AUPH) higher after reporting results from the AURORA 2 study [more]
- Beyond Air (XAIR) declines after announcing it no longer believes the U.S. commercial launch of LungFit PH will take place before December 31 [more]
- Mogo (MOGO) lower in New York trading after announcing a $27.5M registered direct offering at $4.50 per unit [more]
- Kinross Gold (KGC) down after announcing it has entered into an agreement to acquire all outstanding shares of Great Bear Resources (GTBAF) [more]
5. EARNINGS/GUIDANCE:
- Hovnanian (HOV) provided Q1, Q2, and FY22 revenue guidance [more]
- RH (RH) reported upbeat Q3 results [more]
- RingCentral (RNG) provided FY21 revenue guidance along with announcing the departure of President and COO Anand Eswaran [more]
- iRobot (IRBT) provided an earnings and revenue outlook for FY21-FY24 as part of its investor day conference [more]
- Inter Parfums (IPAR) raised its FY21 earnings and revenue guidance [more]
INDEXES:
Near midday, the Dow was down 29.62, or 0.08%, to 35,725.13, the Nasdaq was down 137.07, or 0.87%, to 15,649.92, and the S&P 500 was down 16.50, or 0.35%, to 4,684.71.