Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Tesla (TSLA) founder Elon Musk said he has terminated his agreement to acquire Twitter (TWTR) and the latter is seeking legal action to enforce closing the deal [more]
- Innoviva (INVA) agreed to acquire La Jolla (LJPC) for $6.23 per share [more]
- Frontier Group (ULCC) has declined to raise its bid for Spirit Airlines (SAVE), Reuters reports [more]
- Starbucks (SBUX) will stop selling its new chicken sandwich over quality concerns, The Wall Street Journal reports [more]
- AZZ Inc. (AZZ) reported upbeat Q1 results [more]
2. WALL STREET CALLS:
- Meta Platforms (META) downgraded to Underperform from Hold at Needham [more]
- Mattel (MAT) upgraded to Buy from Neutral at Goldman Sachs [more]
- Morgan Stanley downgrades Fastly (FSLY) to Underweight amid tougher spend environment [more]
- Jefferies cuts Lululemon (LULU) to Underperform, questions "can it get any better?" [more]
- Occidental Petroleum (OXY) downgraded to Neutral from Buy at Goldman Sachs [more]
3. AROUND THE WEB:
- Uber (UBER) broke laws and secretly lobbied governments in leaked files, Guardian reports [more]
- Tyson Foods (TSN) is working to fix operations as it falls behind competitors, WSJ says [more]
- Rogers (RCI) CEO is facing grilling as network woes cast a shadow over its proposed acquisition of Shaw (SJR), Bloomberg reports [more]
- Abbott (ABT) has reopened its Michigan baby formula plant, Reuters reports [more]
- Macau authorities have shut down casinos and other businesses amid a COVID-19 outbreak, WSJ says [more]
4. MOVERS:
- Pliant Therapeutics (PLRX) higher after announcing safety, efficacy data from its Phase 2a INTEGRIS-IPF trial of PLN-74809 [more]
- Mullen Automotive (MULN) increases after announcing a binding agreement with DelPack Logistics [more]
- Moderna (MRNA) gains after announcing data on its omicron booster candidate mRNA-1273.214 [more]
- Alibaba Group (BABA) falls in New York after Reuters reported the company was fined by China for disclosure violations [more]
- DigitalOcean (DOCN) declines after Morgan Stanley downgraded the stock to Underweight with a price target of $45, down from $61 [more]
5. EARNINGS/GUIDANCE:
- Camtek (CAMT) reported preliminary Q2 revenue [more]
- Zynex (ZYXI) reaffirmed its Q2 and FY22 revenue guidance [more]
- Gol Linhas (GOL) reported downbeat Q2 earnings [more]
- Titan Machinery (TITN) provided its 2023 earnings outlook [more]
- Greenbrier (GBX) reported mixed Q3 results [more]
INDEXES:
Near midday, the Dow was down 128.56, or 0.41%, to 31,209.59, the Nasdaq was down 229.22, or 1.97%, to 11,406.09, and the S&P 500 was down 41.04, or 1.05%, to 3,858.34.