Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
- L3Harris (LHX) will acquire Aerojet Rocketdyne (AJRD) for $58 per share [more]
- Tesla (TSLA) shares rose after Twitter (TWTR) users voted for Elon Musk to step down as Twitter CEO [more]
- The EU sent a Statement of Objections to Meta (META) over "abusive practices" in Facebook Marketplace [more]
- Mondelez (MDLZ) will sell its developed-market gum business to Perfetti Van Melle for $1.35B [more]
- Honeywell (HON) will pay $203M in resolutions with the DOJ, SEC, and Brazilian authorities to settle previously disclosed anti-corruption investigations [more]
2. WALL STREET CALLS:
- Oppenheimer downgrades Tesla (TSLA) to Perform on Twitter-related risks [more]
- Moderna (MRNA) upgraded to Buy from Hold at Jefferies [more]
- MoffettNathanson upgraded Verizon (VZ) to Market Perform while downgrading AT&T (T) to Underperform [more]
- Baird downgraded L3Harris Technologies (LHX) to Neutral, arguing Aerojet Rocketdyne (AJRD) transaction will be an overhang [more]
- Enphase Energy (ENPH) upgraded to Outperform at Northland amid "virtuous solar cycle" [more]
3. AROUND THE WEB:
- Germany is investigating Tesla (TSLA) over hazardous materials, Bloomberg reports [more]
- ACI Worldwide (ACIW) nomination deadline highlighted by Dealreporter [more]
- Eli Lilly's (LLY) Mounjaro and Trulicity were added to the FDA shortage list, STAT reports [more]
- Apple (AAPL) suppliers are looking to India and Vietnam as manufacturing hubs, Bloomberg says [more]
- Sinclair Broadcast's (SBGI) Diamond Sports is headed toward a bankruptcy filing, NY Post says [more]
4. MOVERS:
- Zymeworks (ZYME) higher in New York after announcing results from its HERIZON-BTC-01 trial [more]
- Madrigal Pharmaceuticals (MDGL) jumps after announcing results from its Phase 3 MAESTRO-NASH trial [more]
- Disney (DIS) declined following the opening weekend of "Avatar: The Way of Water" [more]
- Bluebird bio (BLUE) declines after reporting the FDA lifted its partial hold on its lovotibeglogene autotemcel study [more]
- Coinbase (COIN) falls after Piper Sandler and Barclays lowered their respective price targets on the stock [more]
5. EARNINGS/GUIDANCE:
- Clearwater Paper (CLW) cut its Q4 adjusted EBITDA guidance [more]
- Ennis (EBF) reported upbeat Q3 results [more]
- Cowen analyst John Kernan raised his price target on Nike (NKE) ahead of the company's quarterly report this week [more]
- FedEx (FDX) price target cut at Evercore ISI ahead of its quarterly results [more]
- Micron (MU) is set to report quarterly results on Wednesday [more]
INDEXES:
The Dow fell 162.92, or 0.49%, to 32,757.54, the Nasdaq lost 159.38, or 1.49%, to 10,546.03, and the S&P 500 declined 34.70, or 0.90%, to 3,817.66.