Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.
1. STOCK NEWS:
- Nike (NKE) reported a Q1 earnings beat but slid after management cut FY22 guidance due to limited inventory availability [more]
- Costco (COST) reported a sales and earnings beat [more]
- China's central bank has reportedly deemed all cryptocurrency transactions illegal, pushing Bitcoin prices down [more]
- Carnival (CCL) guided for Q3 adjusted net losses of ($2B) [more]
- McDonald's (MCD) raised its quarterly dividend and resumed share repurchases [more]
2. WALL STREET CALLS:
- Street Fight: Wells Fargo cuts Roku (ROKU) to Equal Weight day after Guggenheim upgrades to Buy [more]
- Salesforce (CRM) upgraded to Overweight from Neutral at Piper Sandler [more]
- Oppenheimer downgrades Cloudflare (NET) amid competition from Amazon (AMZN), Microsoft (MSFT) [more]
- Jefferies upgrades five casual dining stocks following selloff in the space [more]
- JPMorgan cuts Micron (MU) target to $100 from $140 on DRAM pricing softness [more]
3. AROUND THE WEB:
- China is unlikely to approve Baidu's (BIDU) acquisition off Joyy's (YY) YY Live, Reuters reports [more]
- IAC (IAC) is in talks to acquire Meredith (MDP) in a deal valued at over $2.5B, WSJ reports [more]
- Tesla's (TSLA) Elon Musk sees the chip shortage as a "short-term" issue, CNBC reports [more]
- A Pennsylvania jury determined that J&J's (JNJ) talc-based baby powder did not cause a woman's ovarian cancer, Bloomberg reports [more]
- The Pentagon told Bloomberg that its review of Lockheed's (LMT) proposed takeover of Aerojet (AJRD) is ongoing [more]
4. MAJOR MOVERS:
- vTv Therapeutics (VTVT) jumps after announcing results of a multiple ascending dose study evaluating HPP737, an orally administered phosphodiesterase type 4 inhibitor, in healthy adults [more]
- Aehr Test Systems (AEHR) higher after reporting quarterly results [more]
- Helbiz (HLBZ) drops after filing to sell 11M shares of common stock [more]
- Altice USA (ATUS) continues slide as JPMorgan analyst Philip Cusick cut the firm's price target [more]
- InMed Pharmaceuticals (INM) lower after reporting 2021 results [more]
5. EARNINGS/GUIDANCE:
- CalAmp (CAMP) reported upbeat Q2 adjusted earnings [more]
- Progress Software (PRGS) provided a "beat and raise" report for Q3 [more]
- Trip.com (TCOM) reported upbeat Q2 results [more]
- HNI Corporation (HNI) lowered its Q3 revenue growth view [more]
- Applied Genetic (AGTC) reported upbeat Q4 earnings [more]
INDEXES:
The Dow rose 33.18, or 0.095%, to 34,798.00, the Nasdaq lost 4.55, or 0.03%, to 15,047.70, and the S&P 500 advanced 6.50, or 0.15%, to 4,455.48.