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:
- Biogen (BIIB) sliding after The Centers for Medicare & Medicaid Services, or CMS, posted its draft National Coverage Analysis for monoclonal antibodies directed against amyloid for the treatment of Alzheimer's disease [more]
- Citi (C) will exit its consumer, small business, and middle market banking operations in Mexico [more]
- Falcon Minerals (FLMN) and Desert Peak Minerals will combine in an all-stock transaction [more]
- 51job (JOBS) received a proposal to amend the merger consideration for a going-private deal with a lower price [more]
- DirecTV (T) and Dish Network (DISH) have renewed merger talks, NY Post says [more]
2. WALL STREET CALLS:
- PayPal (PYPL) downgraded to Hold from Buy at Jefferies [more]
- Snowflake (SNOW) upgraded to Overweight on recent selloff at Barclays [more]
- Evercore upgrades DoorDash (DASH) with shares off 40% [more]
- Craig-Hallum bullish on BuzzFeed (BZFD), initiates at Buy [more]
- William Blair upgrades Shopify (SHOP) to Outperform [more]
3. AROUND THE WEB:
- Santander (SAN) is exploring a bid for Citi's operations in Mexico, Bloomberg reports [more]
- Didi (DIDI) started formal discussions with the Hong Kong stock exchange for a listing, FT reports [more]
- Apple (AAPL) is in talks to acquire the rights to MLB's weekday package, CNBC reports [more]
- Pardes Biosciences (PRDS) will spend its SPAC IPO funds on a COVID-19 pill trial, WSJ reports [more]
- California's DMV is "revisiting" Tesla's (TSLA) self-driving beta, L.A. Times reports [more]
4. MOVERS:
- Ocugen (OCGN) rises after announcing the results from a study on a booster dose of candidate vaccine COVAXIN [more]
- Planet Labs (PL) increases after Goldman Sachs analyst Noah Poponak initiated coverage of the stock with a Buy rating and $11 price target [more]
- Bed Bath & Beyond (BBBY) higher after a regulatory filing showed directors of the company bought 33,000 shares of its common stock [more]
- Hyzon Motors (HYZN) declines after announcing it delivered 87 fuel cell powered heavy-duty vehicles in 2021 [more]
- Jefferies Financial (JEF) and Wipro (WIT) fall after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Quest Diagnostics (DGX) reported upbeat preliminary Q4 earnings and revenue [more]
- Philips (PHG) provided Q4 and FY21 revenue guidance that Citi called "disappointing" [more]
- Intuitive Surgical (ISRG) provided upbeat Q4 and 2021 revenue guidance, but Piper called its 2022 procedure outlook "a touch light" [more]
- Bionano Genomics (BNGO) reported an upbeat Q4 and 2021 revenue outlook [more]
- Kaleyra (KLR) sees its FY21 revenue at or above its previous guidance [more]
INDEXES:
Near midday, the Dow was up 43.61, or 0.12%, to 36,295.63, the Nasdaq was up 48.75, or 0.32%, to 15,202.20, and the S&P 500 was up 13.43, or 0.28%, to 4,726.50.