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:
- Novavax (NVAX) said its COVID-19 vaccine showed 90% efficacy in a pivotal Phase 3 trial [more]
- Moderna (MRNA) submitted an application to Swissmedica for its COVID-19 vaccine in adolescents [more]
- Lordstown Motors (RIDE) announced the resignation of CEO Steve Burns and CFO Julio Rodriguez [more]
- Elon Musk said that Tesla (TSLA) will resume accepting bitcoin when there's confirmation of "reasonable" clean energy usage by miners [more]
- Washington Prime (WPG) commenced a voluntary Chapter 11 financial restructuring [more]
2. TOP CALLS:
- Raymond James analyst Brian Vaccaro upgraded Chipotle (CMG) to Strong Buy on its menu price hikes [more]
- Crispr Therapeutics (CRSP) was upgraded to Neutral from Sell at Citi [more]
- Oatly Group (OTLY) initiated with a Buy at Jefferies, Truist, and Guggenheim, initiated with an Outperform at Credit Suisse, initiated with an Overweight at Piper Sandler, initiated with an Outperform at William Blair, initiated with a Neutral at Exane BNP Paribas and JPMorgan, initiated with an Equal Weight at Morgan Stanley, initiated with a Sector Perform at RBC Capital and initiated with a Perform at Oppenheimer [more]
- Core Laboratories (CLB) was downgraded to Sell from Neutral at Citi, with analyst Scott Gruber opening a "negative catalyst watch" into the company's Q2 earnings report [more]
- Evercore analyst Steve Sakwa downgraded AvalonBay (AVB) to In Line after the firm hosted meetings at NAREIT [more]
3. AROUND THE WEB:
- Third Point has a "substantial" Vivendi (VIVHY) stake and is examining the company's deal to sell a 10% stake in UMG, Bloomberg says [more]
- NextGen Acquisition SPAC (NGAC) is in talks to take Virgin Orbit public, Sky News reports [more]
- GSK's (GSK) consumer business is planning deals after its split from the pharma business, FT says [more]
- Royal Dutch Shell (RDS.A) is considering a sale of Texas shale assets, Reuters says [more]
- Petco (WOOF) rallied following a recommendation on Reddit's WallStreetBets [more]
4. MOVERS:
- RAPT Therapeutics (RAPT) soars after reporting results from its Phase 1b RPT193 trial [more]
- iTeos Therapeutics (ITOS) gains after announcing an agreement with GlaxoSmithKline (GSK) to co-develop and co-commercialize EOS-448 [more]
- Brooklyn ImmunoTherapeutics (BTX) higher after executing a non-binding letter of intent to acquire Novellus Therapeutics [more]
- Endo International (ENDP) lower after the Tennessee Court of Appeals issued several orders regarding a state court default judgement [more]
- Fortress Biotech (FBIO) slips after subsidiary Avenue Therapeutics (ATXI) received a complete response letter from the FDA for IV tramadol [more]
5. EARNINGS:
- Motorcar Parts (MPAA) rises after reporting upbeat Q4 revenue [more]
- Kaleyra (KLR) slips after providing Q2 revenue guidance [more]
- Cano Health (CANO) gains after reiterating its FY21 revenue guidance [more]
- Coda Octopus Group (CODA) jumps after reporting better-than-expected Q2 results [more]
- Duke Energy (DUK) higher after providing five-year EPS CAGR targets [more]
INDEXES:
The Dow fell 85.85, or 0.25%, to 34,393.75, the Nasdaq gained 104.72, or 0.74%, to 14,174.14, and the S&P 500 advanced 7.75, or 0.18%, to 4,255.18.