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:
- Merck (MRK) and Ridgeback submitted an EUA to the FDA for investigational COVID-19 antiviral treatment molnupiravir [more]
- Emerson Electric (EMR) and AspenTech (AZPN) announced a deal that will see Emerson's industrial software businesses combined with AspenTech and Emerson owning 55% of AspenTech following the $11B transaction [more]
- Pacira Biosciences (PCRX) will acquire Flexion Therapeutics (FLXN) for $8.50 per share in cash plus a contingent value right worth up to $8.00 per share in cash [more]
- Supernus (SUPN) agreed to acquire Adamas Pharmaceuticals (ADMS) for up to $9.10 per share [more]
- GlaxoSmithKline (GSK) planning a new U.K. headquarters for new consumer healthcare company [more]
2. WALL STREET CALLS:
- Starbucks (SBUX) upgraded to Buy at Deutsche Bank after recent pullback [more]
- Comcast (CMCSA) downgraded to Market Perform from Outperform at Raymond James [more]
- SoFi Technologies (SOFI) initiated with an Overweight at Morgan Stanley [more]
- Hyllion Holdings (HYLN) downgraded to Sell from Neutral at UBS [more]
- GM's (GM) 2030 outlook supports $200 sum-of-the-parts stock price, says Citi [more]
3. AROUND THE WEB:
- Southwest Airlines (LUV) canceled over 1,800 flights over the weekend, WSJ reports [more]
- Credit Suisse's (CS) Greensill report has been delayed due to legal issues, FT reports [more]
- KKR (KKR), Axa (AXAHY), and Allianz (AZSEY) will bid for a 49% stake in Red Electrica's (RDEIY) Reintel unit, Reuters says [more]
- Facebook (FB) will try to "nudge" teens away from harmful content, Reuters reports [more]
- Apple (AAPL) is appealing the App Store ruling in its fight with Epic Games, NY Times reports [more]
4. MOVERS:
- Protagonist Therapeutics (PRGX) surges after the FDA removed a clinical hold on its rusfertide program [more]
- Ocular Therapeutix (OCUL) jumps after an FDA posting indicated approval of a new indication for Dextenza [more]
- Cleveland-Cliffs (CLF) rises after agreeing to acquire Ferrous Processing and Trading Company for $775M [more]
- PagSeguro (PAGS) falls after Brazilian Central Bank announced a public consultation about capping interchange fees on prepaid card transactions [more]
- Sarepta (SRPT) lower after announcing functional data from its SRP-9001 development program [more]
5. EARNINGS/GUIDANCE:
- Aptiv (APTV) lowered its FY21 revenue guidance [more]
- Gol Linhas (GOL) provided Q3 earnings guidance [more]
- Emerson Electric (EMR) reiterated its FY21 earnings guidance [more]
- Byrna Technologies (BYRN) beat sales expectation with report for Q3 [more]
- Nephros (NEPH) provided Q3 revenue guidance [more]
INDEXES:
Near midday, the Dow was up 111.58, or 0.32%, to 34,857.83, the Nasdaq was up 44.31, or 0.30%, to 14,623.84, and the S&P 500 was up 10.38, or 0.24%, to 4,401.72.