Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Pfizer (PFE) and BioNTech (BNTX) submitted an application to the FDA for an Omicron variant vaccine [more]
- FERC approved Berkshire Hathaway's (BRK.A) application to buy more Occidental (OXY) shares, though the Wall Street Journal said that Berkshire isn't expected to bid for control of the company [more]
- AMC (AMC) shares were slipping as "APE" preferred units begin trading [more]
- Vodafone (VOD) will sell Vodafone Hungary for EUR1.8B [more]
- Ford (F) confirmed to the Wall Street Journal that it plans to lay off roughly 3,000 white collar and contract employees [more]
2. WALL STREET CALLS:
- SVB Securities upgraded Elevance Health (ELV) to Outperform from Market Perform [more]
- Evercore upgraded Schneider (SNDR) to Outperform on its attractive risk/reward profile [more]
- UPS (UPS) was downgraded to In Line from Outperform at Evercore [more]
- DocuSign (DOCU) was downgraded to Sector Perform from Outperform at RBC [more]
- Morgan Stanley analyst Erin Wright assumed coverage of Labcorp (LH) with an Overweight rating and $300 price target [more]
3. AROUND THE WEB:
- Bed Bath & Beyond (BBBY) suppliers stop shipments due to unpaid bills, Bloomberg reports [more]
- Johnson & Johnson (JNJ) will try to halt two states' talc cases, FT reports [more]
- Cisco (CSCO) will boost operating expenses by $1B, Information reports [more]
- SoftBank (SFTBY) sold its Alibaba (BABA) stake to reassure investors, FT says [more]
- Sony (SONY) is facing a GBP5B lawsuit in the U.K. over its digital PlayStation Store, VGC reports [more]
4. MOVERS:
- Signify Health (SGFY) increases after the WSJ reported Amazon (AMZN) is among bidders for the company [more]
- Vipshop (VIPS) higher in New York after Credit Suisse upgraded the stock to Outperform from Neutral with a price target of $12, up from $10.30, post the Q2 beat [more]
- SNDL (SNDL) falls in New York after announcing it will acquire The Valens Company (VLNS) in C$138M transaction [more]
- Netflix (NFLX) lower after CFRA downgraded the stock to Sell from Hold with a price target of $238, down from $245 [more]
- Revlon (REV) drops after a court filing indicates a bleak outlook for equity holders [more]
5. EARNINGS/GUIDANCE:
- Jaguar Health (JAGX) reported upbeat Q2 results [more]
- Cosmos Holdings (COSM) reported a year-over-year decline in Q2 revenue [more]
- Pineapple Energy (PEGY) reported upbeat Q2 results [more]
- Enlivex Therapeutics (ENLV) reported a year-over-year drop in Q2 earnings [more]
- iMedia Brands (IMBI) reported lower-than-expected Q2 revenue [more]
INDEXES:
The Dow fell 643.13, or 1.91%, to 33,063.61, the Nasdaq lost 323.64, or 2.55%, to 12,381.57, and the S&P 500 declined 90.49, or 2.14%, to 4,137.99.