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:
- Chubb (CB) agreed to acquire the life and non-life insurance companies of Cigna (CI) in the APAC region for $5.75B [more]
- Tesla (TSLA) CEO Elon Musk said the company will move its headquarters to Austin, Texas [more]
- Momentive (MNTV), the owner of SurveyMonkey, is exploring a potential sale, Bloomberg reports [more]
- Facebook (FB) has rebranded its social VR platform to "Horizon Worlds" [more]
- Non-farm payrolls grew by a less than expected 194,000 in September [more]
2. WALL STREET CALLS:
- Lowe's (LOW) and Home Depot (HD) downgraded to Hold from Buy at Loop Capital [more]
- Charter (CHTR) downgraded to Underweight from Overweight at Wells Fargo [more]
- JPMorgan upgrades Oatly (OTLY) to Overweight, sees valuation warranting "constructive outlook" [more]
- Tesla (TSLA) price target raised to $940 from $768 at Canaccord [more]
- Biogen (BIIB) price target lowered to $400 from $500 at Jefferies [more]
3. AROUND THE WEB:
- Turkey requests to purchase 40 Lockheed Martin (LMT) F-16 jet fighters, Reuters reports [more]
- Denmark has decided to offer the Moderna (MRNA) COVID-19 vaccine to children, Bloomberg says [more]
- Apple (AAPL) is planning a 550,000 square foot office expansion in the Los Angeles area, L.A. Times reports [more]
- Salesforce (CRM) COO Bret Taylor expects to be promoted to CEO soon, The Information reports [more]
- EU asks Microsoft competitors about Teams integration in Office, Reuters says [more]
4. MOVERS:
- ChemoCentryx (CCXI) surges after announcing FDA approval of Tavneos in ANCA-associated vasculitis [more]
- Sundial Growers (SNDL) jumps after agreeing to acquire Alcanna for $346M [more]
- eFfector Therapeutics (EFTR) higher after announcing the presentation of new data for zotatifin in animal models of triple-negative breast cancer at the 2021 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics [more]
- Allogene (ALLO) plunges after the FDA put a clinical hold on AlloCar T clinical trials [more]
- Cidara Therapeutics (CDTX) lower after a 14.84M share secondary offering priced at $1.55 [more]
5. EARNINGS/GUIDANCE:
- Oshkosh (OSK) provided downbeat Q4 guidance [more]
- Accolade (ACCD) reported mixed Q2 results [more]
- Quidel (QDEL) guided for 6%-7% y/y revenue growth in Q3 [more]
- Apollo Endosurgery (APEN) reported upbeat preliminary Q3 revenue [more]
- Samsung (SSNLF) reported Q3 operating profit [more]
INDEXES:
Near midday, the Dow was up 7.76, or 0.02%, to 34,762.70, the Nasdaq was down 44.74, or 0.31%, to 14,609.27, and the S&P 500 was down 1.61, or 0.04%, to 4,398.15.