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:
- Pfizer (PFE) and BioNTech (BNTX) said a recent trial of their COVID-19 vaccine in children aged 5-11 years showed a "favorable" safety profile [more]
- Brooks Automation (BRKS) agreed to sell its semiconductor solutions group business to Thomas H. Lee for $3B [more]
- Twitter (TWTR) will pay $809.5M to settle a class action lawsuit [more]
- Coinbase (COIN) has officially launched Coinbase Prime to all institutions, shelved plans to launch crypto lending program [more]
- GM (GM) said Chevrolet Bolt electric battery production resumes [more]
2. WALL STREET CALLS:
- Texas Instruments (TXN) downgraded to Neutral from Buy at Longbow [more]
- Novartis (NVS) downgraded to Sell from Hold at Deutsche Bank [more]
- Morgan Stanley upgrades Teradata (TDC) to Overweight, says Cloud business underappreciated [more]
- Oatly Group (OTLY) initiated with a Buy at Citi [more]
- Ginkgo Bioworks (DNA) initiated with a Buy at HSBC [more]
3. AROUND THE WEB:
- The U.S. plans to ease travel restrictions for international visitors, CNBC reports [more]
- Didi (DIDI) co-founder and president Jean Liu plans to step down, Reuters reports [more]
- TripAdvisor (TRIP) intends to reverse course on subscriptions to cash-back model, Skift says [more]
- Facebook (FB) leaders are worrying whether the platform has gotten "too big," WSJ reports [more]
- SEC investigating Activision Blizzard (ATVI) over sexual harassment claims, WSJ says [more]
4. MOVERS:
- Synlogic (SYBX) jumps after announcing SYNB1618 demonstrated clinically meaningful reductions of phenylalanine at several dose levels and SYNB1934 demonstrated two-fold higher activity than SYNB1618 in a head-to-head Phase 1 study in healthy volunteers [more]
- Verastem (VSTM) rises after announcing a clinical collaboration agreement with Amgen (AMGN) to evaluate the combination of VS-6766, Verastem Oncology's investigational dual RAF/MEK inhibitor, with Amgen's KRAS G12C inhibitor Lumakras in KRAS G12C-mutant non-small cell lung cancer [more]
- SmileDirectClub (SDC) higher as the stock is the highest trending ticker on WallStreetBets Reddit thread and is also in the top-10 on StockTwits in terms of message volume over the past 24 hours [more]
- Teladoc (TDOC) slips after affirming its Q3 and FY21 outlook and after COO David Sides resigned [more]
- Wynn Resorts (WYNN) lower after Jim Chanos said the stock should be trading in the $40s [more]
5. EARNINGS/GUIDANCE:
- Cognyte (CGNT) provided "beat and raise" report for Q2 [more]
- Adagio Therapeutics (ADGI) reported year-over-year growth in Q2 EPS [more]
- Personalis (PSNL) affirmed its Q3 and FY21 revenue outlook [more]
- Molina Healthcare (MOH) reiterated its FY21 EPS and revenue guidance [more]
- D.R. Horton (DHI) slashed its revenue view for Q4 and FY21 [more]
INDEXES:
The Dow fell 614.41, or 1.78%, to 33,970.47, the Nasdaq lost 330.07, or 2.19%, to 14,713.90, and the S&P 500 declined 75.26, or 1.7%, to 4,357.73.