Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- CVS Health (CVS) agreed to acquire Signify Health (SGFY) for $30.50 per share [more]
- Bed Bath & Beyond (BBBY) announced the passing of CFO Gustavo Arnal after he fell to his death from a New York City skyscraper [more]
- Sito Royalties (STR) and Brigham Minerals (MNRL) will combine in a $4.8B all-stock merger [more]
- State Farm will make a $1.2B equity investment in ADT (ADT) [more]
- Altria-backed (MO) Juul Labs reached a $438.5M multi-state settlement over its marketing [more]
2. WALL STREET CALLS:
- Wolfe Research upgraded Tesla (TSLA) to Outperform and raised the firm's price target on General Motors (GM), calling The Inflation Reduction Act "far and away the most consequential development for the U.S. Auto Industry that we've seen in a very long time" [more]
- FedEx (FDX) downgraded to Neutral from Buy at Citi [more]
- Ciena (CIEN) downgraded to Neutral from Overweight at JPMorgan [more]
- Perrigo (PRGO) upgraded to Overweight from Equal Weight at Wells Fargo [more]
- Jefferies upgrades quartet of tanker stocks [more]
3. AROUND THE WEB:
- Apple (AAPL) was ordered by Brazil to stop selling iPhones without chargers, Reuters reports [more]
- Bed Bath & Beyond CFO Arnal was the subject of an insider trading suit before his death, Business Insider reports [more]
- Volkswagen (VWAGY) is expected to rubber-stamp its landmark Porsche IPO plan, Reuters reports [more]
- Amazon (AMZN) is weighing entering the prescription drug sales business in Japan, Nikkei Asia reports [more]
- Illumina (ILMN) is in talks with EU regulators to divest Grail, Reuters says [more]
4. MOVERS:
- Iveric bio (ISEE) gains after announcing the GATHER2 Phase 3 trial met its primary endpoint [more]
- ChannelAdvisor (ECOM) higher after agreeing to be acquired by CommerceHub for $23.10 per share [more]
- Alaunos Therapeutics (TCRT) increases after announcing early findings from TCR-T Library Phase 1/2 trial [more]
- Digital World Acquisition (DWAC) declines after Reuters said the company has not secured support for an extension for its deal with Trump Media and Technology [more]
- StoneCo (STNE) lower in New York after Goldman Sachs downgraded the stock to Sell from Neutral [more]
5. EARNINGS/GUIDANCE:
- Kingsoft Cloud (KC) reported mixed Q2 results [more]
- Asia Pacific Wire & Cable Corp (APWC) reported a year-over-year decline in H1 earnings [more]
- Medigus (MDGS) said its Eventer unit reported a year-over-year increase in H1 revenue [more]
- MiMedx (MDXG) provided FY22 AWC product sales guidance [more]
- Patterson-UTI (PTEN) reported an average of 127 U.S. drilling rigs operating in August [more]
INDEXES:
The Dow fell 173.14, or 0.55%, to 31,145.30, the Nasdaq lost 85.95, or 0.74%, to 11,544.91, and the S&P 500 declined 16.07, or 0.41%, to 3,908.19.