Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- Amgen (AMGN) agreed to acquire Horizon Therapeutics (HZNP) for $116.50 per share in cash [more]
- Coupa Software (COUP) will be acquired by Thoma Bravo for $81 per share in cash [more]
- Weber (WEBR) will be taken private by BDT Capital in an $8.05 per share transaction [more]
- Rivian Automotive (RIVN) paused plans to produce electric commercial vans in Europe [more]
- CVS (CVS) and Walgreens (WBA) have agreed to a $10.7B opioid settlement with state attorneys general [more]
2. WALL STREET CALLS:
- Micron (MU) downgraded to Hold from Buy at Deutsche Bank [more]
- Under Armour (UAA) upgraded to Buy from Hold at Stifel [more]
- Qualcomm (QCOM) downgraded to Underweight from Equal Weight at Wells Fargo [more]
- Accenture (ACN) downgraded to Underweight from Neutral at Piper Sandler [more]
- Gap (GSP) and Tapestry (TPR) were upgraded to Buy at Goldman Sachs, while Levi Strauss (LEVI) was downgraded to Neutral and RH (RH) downgraded to Sell at the firm [more]
3. AROUND THE WEB:
- Coinbase (COIN) CEO Brian Armstrong believes regulation will boost USD Coin use, WSJ reports [more]
- Samsung (SSNLF) will maintain memory output ramp-up, DigiTimes reports [more]
- Credit Suisse (CS) accepted "suspicious" invoices for Greensill loan, FT reports [more]
- Microsoft (MSFT) hade a concession offer to the EU over antitrust concerns over Teams, Reuters reports [more]
- Three top executives to leave VMware (VMW), WSJ says [more]
4. MOVERS:
- Pitney Bowes (PBI) rises after confirming it has had an "ongoing" dialogue with activist investor Hestia Capital [more]
- Box (BOX) gains after JPMorgan upgraded the stock to Overweight with a price target of $34, up from $31 [more]
- Adicet Bio (ACET) lower after reporting data from its ongoing ADI-001 Phase 1 trial [more]
- Karyopharm Therapeutics (KPTI) declines after reporting updated results from its Phase 1 trial evaluating selinexor [more]
- Fate Therapeutics (FATE) falls after it and GT Biopharma (GTBP) presented preclinical data on its dual antigen targeting approach [more]
5. EARNINGS/GUIDANCE:
- Whole Earth Brands (FREE) reaffirms 2022 guidance [more]
- Universal Technical (UTI) reported downbeat Q4 results [more]
- Dynagas LNG (DLNG) reported a year-over-year decline in Q3 earnings and revenue [more]
- Pembina Pipeline (PBA) provided FY23 adjusted EBITDA guidance [more]
- Virco (VIRC) reported upbeat Q3 results [more]
INDEXES:
The Dow rose 528.58, or 1.58%, to 34,005.04, the Nasdaq gained 139.12, or 1.26%, to 11,143.74, and the S&P 500 advanced 56.18, or 1.43%, to 3,990.56.