Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Frontier Group (ULCC) raised its Spirit Airlines (SAVE) deal consideration and Spirit said JetBlue's (JBLU) revised offer is "not a superior proposal" [more]
- Foot Locker (FL) will divest its Team Sales business to BSN SPORTS [more]
- Epizyme (EPZM) agreed to be acquired by Ipsen (IPSEY) for $1.45 per share plus a contingent value right of $1.00 per share [more]
- FTX exploring if path available to acquire Robinhood (HOOD), Bloomberg says [more]
- Siemens (SIEGY) plans to acquire Brightly Software for $1.575B plus earn-out [more]
2. WALL STREET CALLS:
- Coinbase (COIN) downgraded to Sell from Neutral at Goldman Sachs [more]
- Robinhood (HOOD) upgraded to Neutral from Sell at Goldman Sachs [more]
- Chewy (CHWY) upgraded to Buy from Hold at Needham [more]
- AutoZone (AZO) upgraded to Buy from Neutral at Goldman Sachs [more]
- Etsy (ETSY) downgraded to Hold from Buy at Needham [more]
3. AROUND THE WEB:
- The U.S. Supreme Court passed on ruling on Apple's (AAPL) challenge to a Qualcomm (QCOM) suit, Bloomberg reports [more]
- Sources close to Goldman Sachs (GS) told Fox Business News that an earlier report on the bank looking to buy assets from Celsius is incorrect [more]
- The U.S. Supreme Court has left in place an $87M award against Bayer (BAYRY) over Roundup, Bloomberg reports [more]
- Amazon (AMZN) will host two Prime Day events in 2022, CNBC reports [more]
- TreeHouse (THS) is in talks to sell its meal-prep business for $1.3B, Bloomberg says [more]
4. MOVERS:
- Axsome Therapeutics (AXSM) higher after receiving from the FDA proposed labeling for the company's AXS-05 product candidate [more]
- Vermilion Energy (VET) gains in New York after Scotiabank upgraded the stock to Outperform [more]
- SSR Mining (SSRM) lower after announcing it is seeking a response from the Ministry of Environment following recent Turkish reports indicating a potential temporary halt of operations at the Copler mine [more]
- Digital World Acquisition (DWAC) declines after reporting the receipt of a grand jury subpoena in a regulatory filing [more]
- UiPath (PATH) dips after announcing it will reduce about 5% of its global workforce under a restructuring plan [more]
5. EARNINGS/GUIDANCE:
- UiPath (PATH) reiterated Q2 revenue guidance [more]
- Cowen's John Kernan sees market concerns that Nike (NKE) might issue initial FY23 guidance below sell side estimates when it reports earnings after the bell Monday [more]
- B. Riley analyst Susan Anderson downgraded Bed Bath & Beyond (BBBY) to Neutral from Buy ahead of earnings this week [more]
- BMO's Ambrish Srivastava cut the firm's price target on Micron (MU) ahead of earnings this week [more]
- Analysts have their eyes on General Mills (GIS) earnings this week as well, particularly after the sale of its Helper main meals unit [more]
INDEXES:
The Dow fell 62.42, or 0.20%, to 31,438.26, the Nasdaq lost 83.07, or 0.72%, to 11,524.55, and the S&P 500 declined 11.63, or 0.30%, to 3,900.11.