On the Fly News and insights, exclusive to thefly.com

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Eyes are on the Federal Reserve meeting that will conclude later on Wednesday, with an interest rate cut widely seen as a foregone conclusion, but the size of the cut still being debated
• BlackRock (BLK), GIP, Microsoft (MSFT), and MGX confirmed an AI pact on data center investment
  
• Nippon Steel (NPSCY) is slated to get an extension in the security review over its proposed takeover of U.S. Steel (X), Bloomberg reports
  
• Organon (OGN) will acquire Dermavant from Roivant Sciences (ROIV) for $1.2B
  
• Rogers Communications (RCI) has acquired BCE's (BCE) 37.5% stake in Maple Leaf Sports and Entertainment for $3.5B
  

2. WALL STREET CALLS:

• Nvidia (NVDA) initiated with bullish view at William Blair
• GE HealthCare (GEHC) upgraded to Buy at BTIG
  
• ResMed (RMD) downgraded to Underperform at Wolfe Research
  
• VF Corp. (VFC) upgraded at Barclays, here's why
  
• Edwards Lifesciences (EW) downgraded at Jefferies, here's why

3. AROUND THE WEB:

• Microsoft (MSFT) is seeking "clarity" over AI chip curbs to the Middle East, FT reports
• Meta Platforms (META) is facing an EU fine over its alleged efforts to dominate the classified advertising market, FT says
  
• Google (GOOGL) has won an appeal against a EUR 1.5B competition fine from the European Commission, FT reports
  
• Chevron (CVX) CEO Mike Wirth says the Biden administration's oil and gas policy pushes up prices and "undermines energy security" for U.S. allies, FT reports
  
• Apple's (AAPL) A16 SoC is currently being manufactured at Phase 1 of TSMC's (TSM) Fab 21 in Arizona in "small, but significant" numbers, Tim Culpan reports
  

4. MOVERS:

• Applied Therapeutics (APLT) gains after providing an update on its ongoing NDA review of govorestat
• Intuitive Machines (LUNR) higher after announcing it was awarded the maximum value of $4.82B for a NSN contract by NASA
  
• PowerFleet (AIOT) increases after announcing it will acquire Fleet Complete for $200M
  
• Casella Waste (CWST) falls after announcing a 4.5M share offering priced at $100
• Trump Media (DJT) lower a day after Bloomberg reported Delaware Chancery Court Judge Lori Will ruled Patrick Orlando is entitled to almost 8.2M Class A shares of the company, rather than the 7.4M he was allotted

5. EARNINGS/GUIDANCE:

• General Mills (GIS) reported Q1 results and backed its guidance for FY25
• Aspen Technology (AZPN) reaffirmed its guidance for FY25
  
• Nano Labs (NA) reported 1H of 2024 results, with EPS higher year-over-year
  
• At its investor day yesterday, Electronic Arts (EA) said the company is on track towards the high end of its net bookings guidance for the second fiscal quarter and the fiscal year
• FedEx (FDX) will report Q1 results on September 19
  

INDEXES:

Near midday, the Dow was down 40.23, or 0.10%, to 41,565.95, the Nasdaq was down 9.32, or 0.05%, to 17,618.74, and the S&P 500 was down 2.62, or 0.05%, to 5,631.96.