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]
- Citi upgrades Deere (DE) to Buy despite seeing machinery downturn [more]
3. AROUND THE WEB:
- Toronto-Dominion (TD) was mentioned cautiously by Bear Cave's Edwin Dorsey [more]
- Southwest Gas (SWX) formally launched a sale process in early June, Dealreporter says [more]
- Apple (AAPL) is planning a larger Apple Watch geared towards extreme sports, Bloomberg says [more]
- NHTSA opened a new probe of a Tesla (TSLA) crash that killed a pedestrian, Reuters reports [more]
- EU regulators are probing the Alliance for Open Media's video licensing policy, Reuters 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]
- Nio (NIO), Xpeng (XPEV), and Li Auto (LI) rise as China considers an electric vehicle tax break extension [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:
The Dow rose 346.87, or 1.12%, to 31,384.55, the Nasdaq gained 259.49, or 2.28%, to 11,621.35, and the S&P 500 advanced 57.54, or 1.50%, to 3,902.62.