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:
- Facebook (FB) reported lower than expected Q3 revenue and gave a worse than forecast Q4 outlook [more]
- General Electric (GE) raised its FY21 adjusted earnings guidance [more]
- TransUnion (TRU) reported upbeat Q3 results, deal to sell TransUnion Healthcare to nThrive for $1.735B [more]
- UPS (UPS) reported better than expected Q3 earnings and revenue [more]
- DraftKings (DKNG) said it will "not make a firm offer" for Entain (GMVHF) [more]
2. WALL STREET CALLS:
- Rosenblatt upgrades "oversold" Facebook (FB) to Buy following last night's "reset" [more]
- Credit Suisse downgrades Beyond Meat (BYND) to Underperform, sees no "quick fix" [more]
- Coinbase (COIN) initiated with a Buy at Citi [more]
- Intel (INTC) downgraded to Market Perform from Outperform at BMO Capital [more]
- Jefferies downgrades Upstart (UPST) to Hold, doubles target to $330 [more]
3. AROUND THE WEB:
- Grizzly Research issued a short report on MP Materials (MP) [more]
- BT Group (BT) has hired a firm to help fend off a potential bid from Patrick Drahi, Sky News reports [more]
- GameStop (GME) is looking to build an Ethereum-based Web3 arm, Coinbase says [more]
- Hedgeye added Rexford Industrial (REXR) as a best idea long [more]
- Amazon (AMZN) is building a live audio app codenamed "Project Mic," The Verge reports [more]
4. MOVERS:
- Roivant Sciences (ROIV) higher after Truist, Cowen, and Jefferies each initiated coverage of the stock with Buy-equivalent ratings [more]
- Ocugen (OCGN) rises after becoming the second highest trending name on StockTwits and also in the top-10 on WallStreetBets Reddit thread in terms of message volume over the past 24 hours [more]
- Perion Network (PERI) gains after reporting quarterly results [more]
- Romeo Power (RMO) declines after disclosing BorgWarner (BWA) will be electing to exercise a right to have Romeo buy its ownership stake in the BorgWarner Romeo Power joint venture [more]
- Xerox (XRX) and InMode (INMD) fall after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Eli Lilly (LLY) provided a "beat and raise" report for Q3 [more]
- Lockheed Martin (LMT) raised its FY21 adjusted earnings guidance, but cut its revenue view [more]
- Corning (GLW) reported downbeat Q3 earnings and revenue [more]
- Ecolab (ECL) reported upbeat Q3 results [more]
- Hasbro (HAS) reported upbeat Q3 results [more]
INDEXES:
Near midday, the Dow was up 38.78, or 0.11%, to 35,779.93, the Nasdaq was up 43.96, or 0.29%, to 15,270.67, and the S&P 500 was up 13.53, or 0.30%, to 4,580.01.