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:
- Bank of America (BAC) reported upbeat Q4 earnings, saying investment banking had its best year ever [more]
- Morgan Stanley (MS) also reported upbeat quarterly results, with CEO James Gorman saying he doesn't expect to be the chief executive at the bank in five years [more]
- UnitedHealth (UNH) reported upbeat Q4 results and reiterated FY22 guidance [more]
- UCB agreed to acquire Zogenix (ZGNX) for $26 per share plus a CVR worth potentially $2 per share more [more]
- SoFi Technologies (SOFI) rises after given regulatory approval to become a national bank [more]
2. WALL STREET CALLS:
- Cisco (CSCO) downgraded to Neutral from Buy at Goldman Sachs [more]
- Las Vegas Sands (LVS) upgraded to Buy at UBS on new Macau gaming legislation [more]
- KeyBanc downgraded KB Home (KBH) and Lennar (LEN) to Underweight [more]
- Zimmer Biomet (ZBH) downgraded to Underweight from Overweight at Wells Fargo [more]
- Grocery Outlet (GO) downgraded to Underperform from Neutral at BofA [more]
3. AROUND THE WEB:
- Kohl's (KSS) has hired Goldman Sachs (GS) to assist with an activist campaign, The Deal reports [more]
- BHP (BHP) is eyeing its biggest rivals in a hunt for a "transformational deal," Bloomberg reports [more]
- Suncor (SU) is preparing to launch a formal process to sell Norway assets, Upstream says [more]
- Peloton (PTON) is considering laying off 41% of its sales and marketing staff, Business Insider says [more]
- Tesla (TSLA) investors want Elon Musk to repay $13B for the SolarCity deal, Reuters reports [more]
4. MOVERS:
- Freyr Battery (FREY) increases in New York trading after announcing it has signed an agreement with Honeywell (HON) to collaborate on energy storage solutions [more]
- Take-Two (TTWO) higher after Exane BNP Paribas analyst Nicolas Langlet upgraded the stock to Outperform [more]
- Unilever (UL) gains in New York after Societe Generale analyst David Hayes double upgraded the stock to Buy and the company said it will not increase its offer for GSK Consumer Healthcare (GSK) above GBP 50B [more]
- Plug Power (PLUG) declines after announcing FY22 revenue guidance [more]
- Citizens Financial (CFG) and State Street (STT) lower after reporting quarterly results [more]
5. EARNINGS/GUIDANCE:
- Procter & Gamble (PG) reported upbeat Q2 results [more]
- Fastenal (FAST) reported upbeat Q4 results [more]
- U.S. Bancorp (USB) reported downbeat Q4 earnings and revenue [more]
- LiveOne (LVO) raised its FY22 revenue guidance [more]
- Comerica (CMA) reported upbeat Q4 earnings [more]
INDEXES:
Near midday, the Dow was up 104.24, or 0.29%, to 35,472.71, the Nasdaq was up 58.74, or 0.40%, to 14,565.63, and the S&P 500 was up 16.67, or 0.36%, to 4,593.78.