Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Merck (MRK) is in advanced talks to acquire Seagen (SGEN) for over $40B, The Wall Street Journal reports [more]
- GameStop (GME) announced a 4-for-1 stock split [more]
- Virgin Galactic (SPCE) selected Boeing's (BA) Aurora to build new motherships [more]
- Shell (SHEL) revises up value of oil and gas assets ahead of July 28 results [more]
- AbbVie (ABBV) provided downbeat Q2 and FY22 earnings guidance [more]
2. WALL STREET CALLS:
- Endeavor Group (EDR) upgraded to Buy from Neutral at Citi [more]
- Argus downgraded United Airlines (UAL) to Hold from Buy while Exane BNP Paribas cut its rating on the airline to Underperform from Neutral [more]
- BTIG upgraded 1Life Healthcare (ONEM) to Buy from Neutral [more]
- Bank of America downgraded Kohl's (KSS) to Underperform from Neutral [more]
- Consolidated Communications (CNSL) downgraded to Sell from Neutral at Citi [more]
3. AROUND THE WEB:
- Toronto-Dominion (TD) was mentioned cautiously by Bear Cave's Edwin Dorsey [more]
- Twitter (TWTR) tests CoTweets feature for co-authoring posts, The Verge reports [more]
- Southwest Gas (SWX) formally launched a sale process in early June, Dealreporter says [more]
- AT&T (T) employees asked a judge to throw out a lawsuit by the SEC, Bloomberg reports [more]
- Apple (AAPL) is planning a larger Apple Watch geared towards extreme sports, Bloomberg says [more]
4. MOVERS:
- Grove Collaborative (GROV) higher after announcing a retail expansion for Grove Co. [more]
- Bed Bath & Beyond (BBBY) gains after interim CEO Sue Grove bought 50,000 shares [more]
- Crescent Point Energy (CPG) increases in New York after raising its quarterly dividend [more]
- The Duckhorn Portfolio (NAPA) declines after announcing a 5M share offering [more]
- Otis Worldwide (OTIS) falls after JPMorgan downgraded the stock to Neutral from Overweight with a price target of $62, down from $100 [more]
5. EARNINGS/GUIDANCE:
- Helen of Troy (HELE) reported downbeat Q1 core earnings [more]
- Enservco (ENSV) reported a year-over-year increase in Q4 earnings and revenue [more]
- Usana (USNA) cut its FY22 earnings and revenue guidance [more]
- Byrna Technologies (BYRN) reported downbeat Q2 results [more]
- KalVista (KALV) reported upbeat Q4 earnings [more]
INDEXES:
Near midday, the Dow was up 260.79, or 0.84%, to 31,298.47, the Nasdaq was up 213.77, or 1.88%, to 11,575.62, and the S&P 500 was up 46.36, or 1.21%, to 3,891.44.