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]
- Boeing (BA) CEO Dave Calhoun said a stalemate with China won't end soon [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]
- Microsoft's (MSFT) proposed takeover of Activision Blizzard (ATVI) faces in-depth U.K. and EU investigations, FT 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]
- Arconic (ARNC) lower after providing Q3 guidance and cutting its FY22 revenue view [more]
- Alaunos Therapeutics (TCRT) slides after "patient two" referred to a new trial [more]
5. EARNINGS/GUIDANCE:
- Humana (HUM) raised its FY22 earnings guidance in conjunction with its investor day meeting [more]
- 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]
INDEXES:
The Dow fell 173.27, or 0.56%, to 30,961.82, the Nasdaq lost 167.32, or 1.43%, to 11,552.36, and the S&P 500 declined 44.66, or 1.13%, to 3,901.35.