Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- President Biden announced a tentative railway labor agreement has been reached to avert an industry-wide strike [more]
- Adobe (ADBE) reported mixed results and guidance and also announced a deal to acquire Figma for $20B in cash and stock [more]
- Shares of Affirm (AFRM) and Block (SQ) fell after the CFPB said it plans to make sure "Buy Now, Pay Later" stays "fair and transparent" [more]
- Danaher (DHR) will separate its Environmental & Applied Solutions unit into a public company [more]
- Humana (HUM) raised its FY22 earnings guidance in conjunction with its investor day meeting [more]
2. WALL STREET CALLS:
- Netflix (NFLX) upgraded to Outperform from In Line at Evercore ISI [more]
- Wynn Resorts (WYNN) upgraded to Outperform from Neutral at Credit Suisse [more]
- Credit Suisse upgraded Nokia (NOK) and downgraded Ericsson (ERIC) to Underperform from Outperform as a new analyst took over coverage of the stocks [more]
- Electronic Arts (EA) downgraded to Neutral on valuation at Atlantic Equities [more]
- Kohl's (KSS) assumed with Hold from Buy at Jefferies [more]
3. AROUND THE WEB:
- Kanye West has terminated his partnership with Gap (GPS), WSJ reports [more]
- Disney (DIS) is weighing merging Hulu and Disney+, Bloomberg reports [more]
- Amazon (AMZN) and Apple (AAPL) have passed on media rights to LIV Golf, WSJ says [more]
- Coinbase (COIN) was mentioned cautiously by Edwin Dorsey's Bear Cave [more]
- Tesla (TSLA) is considering a reset of its China retail strategy, Reuters reports [more]
4. MOVERS:
- Store Capital (STOR) higher after announcing it will be acquired by GIC and Oak Street for $32.25 per share in cash [more]
- Marqeta (MQ) increases after announcing $100M share repurchase program [more]
- Omeros (OMER) decreases after reporting results from its narsoplimab arm of I-SPY COVID trial [more]
- Rhythm Pharmaceuticals (RYTM) declines after announcing a 4.8M share offering [more]
- Arconic (ARNC) lower after providing Q3 guidance and cutting its FY22 revenue view [more]
5. EARNINGS/GUIDANCE:
- IronNet (IRNT) reported downbeat Q2 results [more]
- Steel Dynamics (STLD) provided upbeat Q3 earnings guidance [more]
- U.S. Steel (X) provided an earnings and EBITDA outlook for Q3 [more]
- Beauty Health (SKIN) expects to double net sales by 2025 [more]
- Progressive (PGR) reported August earnings that increased from last year [more]
INDEXES:
Near midday, the Dow was down 131.76, or 0.42%, to 31,003.33, the Nasdaq was down 138.16, or 1.18%, to 11,581.52, and the S&P 500 was down 35.50, or 0.90%, to 3,910.51.