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:
- Microsoft (MSFT) agreed to acquire Activision Blizzard (ATVI) for $95 per share in cash [more]
- GSK (GSK) said it rejected three Unilever (UL) bids that "undervalued" its Consumer Healthcare unit [more]
- Exxon Mobil (XOM) announced an ambition for net zero greenhouse gas emissions by 2050 [more]
- Goldman Sachs (GS) reported lower than expected Q4 headline earnings, but better than expected Q4 revenue [more]
- Citrix (CTXS) is in advanced talks for a go-private buyout deal, Bloomberg says [more]
2. WALL STREET CALLS:
- Snowflake (SNOW) upgraded to Outperform from Market Perform at William Blair [more]
- Gap (GPS) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
- Delta Air Lines (DAL) upgraded to Buy from Hold at Argus [more]
- Gordon Haskett downgrades Airbnb (ABNB) to Hold on growth headwinds [more]
- Goldman Sachs starts SoFi Technologies at Neutral, Mizuho cuts SoFi price target to $17 [more]
3. AROUND THE WEB:
- Intel (INTC) will announce a bitcoin mining chip in February, CoinDesk reports [more]
- Peloton (PTON) has hired McKinsey to review its cost structure, CNBC reports [more]
- Alibaba's (BABA) cloud unit is being probed by the U.S. over national security risks, Reuters reports [more]
- Tesla (TSLA) has asked a law firm to fire an attorney hired from the SEC, WSJ reports [more]
- Meta (MVRS) is filing "dozens" of patents to monetize the metaverse, FT reports [more]
4. MOVERS:
- Houghton Mifflin Harcourt (HMHC) higher after Bloomberg reported the company is considering a potential sale [more]
- Kosmos (KOS) increases after completing the drilling of the Winterfell-2 appraisal well on Block 943 [more]
- Kohl’s (KSS) gains after Reuters said Acacia Research (ACTG) contacted the company to express buyout interest [more]
- BioNTech (BNTX) declines after Bloomberg reported preliminary data from a trial showed a fourth dose of Pfizer (PFE) and the company’s vaccine was insufficient to prevent infection with the omicron variant of COVID-19 [more]
- Silvergate (SI) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- PNC Financial (PNC) reported upbeat Q4 earnings [more]
- Charles Schwab (SCHW) reported downbeat Q4 results [more]
- Hain Celestial (HAIN) sees Q2 net sales down 1%-3% year-over-year [more]
- Zynex (ZYXI) reiterated its Q4 revenue guidance [more]
- Sportsman's Warehouse (SPWH) provided earnings guidance for Q4 and 2021 [more]
INDEXES:
Near midday, the Dow was down 586.06, or 1.63%, to 35,325.75, the Nasdaq was down 304.98, or 2.05%, to 14,588.77, and the S&P 500 was down 81.71, or 1.75%, to 4,581.14.