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:
- A tornado tore through an Amazon (AMZN) warehouse in Edwardsville, Illinois, leaving six dead [more]
- Arena Pharmaceuticals (ARNA) surges after agreeing to be acquired by Pfizer (PFE) for $100 per share in an all-cash deal with a total equity value of approximately $6.7B [more]
- R.R. Donnelley's (RRD) board determined that Chatham's acquisition proposal is superior [more]
- Rivian Automotive's (RIVN) R1T won MotorTrend's truck of the year award [more]
- SPX Flow (FLOW) will be acquired by Lone Star Funds for $3.8B [more]
2. WALL STREET CALLS:
- JPMorgan upgrades Coca-Cola (KO) on building sales momentum into 2022 [more]
- Merck (MRK) downgraded to Neutral, Pfizer (PFE) upgraded to Buy at UBS [more]
- JPMorgan ups Apple (AAPL) price target, reiterates as top pick into 2022 [more]
- Wall Street rolls out bullish coverage of Braze (BRZE) [more]
- SAP (SAP) upgraded to Buy from Neutral at UBS [more]
3. AROUND THE WEB:
- The U.S. Supreme Court did not agree to hear a Johnson & Johnson (JNJ) appeal related to talc cancer lawsuits, Bloomberg reports [more]
- A Starbucks (SBUX) investigation showed that expired ingredients were used in China, SCMP reports [more]
- Chris Wallace is leaving Fox News (FOXA) for CNN's (T) streaming service, NY Times reports [more]
- MGM Resorts (MGM) aims to reduce staff churn with VR, Insider reports [more]
- A climate activist group is targeting Exxon Mobil (XOM) with a shareholder climate resolution, Reuters reports [more]
4. MOVERS:
- Bristol-Myers (BMY) higher after raising quarterly dividend 10% and adding $15B to its stock buyback plan [more]
- Foghorn Therapeutics (FHTX) jumps after entering into a novel oncology collaboration with Eli Lilly (LLY) [more]
- Harley-Davidson (HOG) higher after announcing an agreement with AEA-Bridges Impacg Corp. (IMPX) under which AEA-Bridges Impact will combine with LiveWire, Harley-Davidson's electric motorcycle division, to create a new publicly traded company [more]
- IGM Biosciences (IGMS) drops after presenting clinical results from the company's Phase 1 trial evaluating IGM-2323, a novel bispecific IgM antibody targeting CD20 x CD3, at the 63rd American Society of Hematology Annual Meeting and Exposition [more]
- Dollar Tree (DLTR) lower after issuing a statement regarding recent interactions with Mantle Ridge and its notice seeking to nominate a full slate of 11 directors to the company's board of directors at its 2022 annual meeting [more]
5. EARNINGS/GUIDANCE:
- Azure Power (AZRE) reported year-over-year earnings and revenue growth in Q2 [more]
- Clear Channel Outdoor (CCO) raised its Q4 revenue guidance [more]
- Archer Daniels (ADM) provided its EPS target for 2025 [more]
- Sonoco Products (SON) provided 2021 and 2022 base EPS targets [more]
- Journey Medical (DERM) reported upbeat Q3 results [more]
INDEXES:
Near midday, the Dow was down 313.20, or 0.87%, to 35,657.79, the Nasdaq was down 166.60, or 1.07%, to 15,464.00, and the S&P 500 was down 30.16, or 0.64%, to 4,681.86.