Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Gold Fields (GFI) and Yamana Gold (AUY) announced an agreement under which Gold Fields will acquire all of the outstanding common shares of Yamana in an all-stock transaction that implies a valuation for Yamana of $6.7B [more]
- DexCom (DXCM) rallied and Insulet (PODD) slid after the former released an official statement in response to market speculation that the company is "not in active discussions regarding a merger transaction at this time" [more]
- Unilever (UL) shares are also rallying after the company named activist investor Nelson Peltz as a non-executive director [more]
- Sanofi (SNY) shares are lower after the FDA placed its Actual Use Trial of Cialis Rx to OTC switch on a clinical hold [more]
- Franklin Resources (BEN) announced that Franklin Templeton has entered into a definitive agreement to acquire BNY Alcentra Group Holdings from The Bank of New York Mellon (BK) [more]
2. WALL STREET CALLS:
- American Eagle (AEO) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- Truist upgraded Dish (DISH) to Buy citing spectrum holdings and valuation [more]
- Steel Dynamics (STLD) downgraded to Neutral from Buy at Goldman Sachs [more]
- Daiwa upgrades Zoom (ZM) to Outperform on "more realistic" expectations [more]
- Jefferies, Bank of America, Wells Fargo and Guggenheim started coverage of Bausch + Lomb (BLCO) with a Buy or equivalent rating, while Deutsche Bank, Morgan Stanley, Goldman Sacks and JPMorgan initiated Bausch + Lomb with Neutral-equivalent ratings [more]
3. AROUND THE WEB:
- Credit Suisse (CS) considering options to bolster capital, Reuters reports [more]
- Nio (NIO) may look to set up production in U.S., DigiTimes says [more]
- Qualcomm (QCOM) would look to buy stake in semiconductor designer Arm when it goes public, FT reports [more]
- KKR (KKR) to lead turnaround of auto-parts supplier Marelli, Bloomberg reports [more]
- Battery pack catches on fire at Rivian (RIVN) factory, Electrek reports [more]
4. MOVERS:
- Mullen Automotive (MULN) up after announcing the results of its solid-state polymer battery testing [more]
- Grab Holdings (GRAB) higher in New York after Bernstein upgraded the stock to Outperform from Market Perform [more]
- CatchMark Timber Trust (CTT) advances after entering into a definitive agreement to combine with PotlatchDeltic (PCH) in an all-stock transaction [more]
- Outlook Therapeutics (OTLK) lower after the FDA requested more information on its BLA for ONS-5010 [more]
- Nordic American Tankers (NAT) declines in New York after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Kirkland's reported worse-than-expected sales and losses in Q1 [more]
- KE Holdings (BEKE) reported better-than-expected Q1 revenue [more]
- Gambling.com CEO Charles Gillespie said the company's core business "performed brilliantly" in Q1 [more]
- Mesa Labs (MLAB) reported Q4 results, said it enters FY23 "with optimism" [more]
- Rayonier Advanced Materials (RYAM) backed its Q2 and FY22 EBITDA guidance [more]
INDEXES:
Near midday, the Dow was down 43.82, or 0.13%, to 33,169.14, the Nasdaq was up 33.04, or 0.27%, to 12,164.17, and the S&P 500 was down 2.19, or 0.05%, to 4,156.05.