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:
- Pfizer (PFE) says final results from its COVID oral antiviral candidate are consistent with interim analysis [more]
- 3M (MMM) plans to combine its food safety business with Neogen (NEOG) [more]
- Terminix (TMX) agreed to be acquired by Rentokil (RTOKY) for $6.7B in a cash and stock deal [more]
- Purple Innovation (PRPL) named Robert DeMartini acting CEO and revised its FY21 revenue outlook [more]
- Hexo (HEXO) announced that CFO Trent MacDonald will depart and that John Bell will become board chair [more]
2. WALL STREET CALLS:
- BofA upgrades Apple (AAPL) to Buy into "game-changer" headset launch [more]
- Ralph Lauren (RL) downgraded to Sell from Buy at Goldman Sachs [more]
- Beyond Meat (BYND) upgraded to Neutral at Piper on pending McDonald's (MCD) McPlant launch [more]
- Dell Technologies (DELL) downgraded to In Line at Evercore [more]
- Doximity (DOCS) downgraded to Underweight from Neutral at JPMorgan [more]
3. AROUND THE WEB:
- Instagram (MVRS;FB) reached 2B monthly active users in October, CNBC reports [more]
- Kerrisdale announced a short position in Meta Materials (MMAT) [more]
- Toyota (TM) intends to invest Y4T in battery-powered EVs, CNBC reports [more]
- Netflix (NFLX) is cutting India subscription prices, Variety reports [more]
- Starbucks (SBUX) employees in the Boston area are pushing to unionize, Bloomberg reports [more]
4. MOVERS:
- EQT Corporation (EQT) higher after announcing its board has approved a $1B share repurchase program and reinstated its regular dividend starting in Q1 of 2022 [more]
- Nov Inc. (NOV) rises after JPMorgan analyst Arun Jayaram upgraded the stock to Overweight [more]
- Generation Bio (GBIO) falls after providing an update on factor VII expression from a series of studies in hemophilia A [more]
- Cabaletta Bio (CABA) down after reporting activity from the two lowest dose cohorts in its DesCAARTes Phase 1 clinical trial of DSG3-CAART [more]
- Adagio Therapeutics (ADGI) plunges as data shows treatment not as effective against omicron [more]
5. EARNINGS/GUIDANCE:
- CommScope (COMM) provided guidance as part of investor day meeting [more]
- Campbell Soup (CPB) provided its adjusted earnings growth outlook for fiscal 2022-2025 [more]
- Avaya (AVYA) gave its revenue growth targets for FY23, FY24 and longer-term [more]
- Champions Oncology (CSBR) reported upbeat Q2 results [more]
- Algonquin Power (AQN) provided FY22 adjusted earnings guidance [more]
INDEXES:
Near midday, the Dow was down 172.86, or 0.48%, to 35,478.09, the Nasdaq was down 282.95, or 1.84%, to 15,130.33, and the S&P 500 was down 56.17, or 1.20%, to 4,612.80.