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6/24/2021 12:06pm
Wall Street in Fives - Must Read Lists at Midday

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: 

  • Eli Lilly (LLY) received breakthrough therapy designation for its Alzheimer's drug from the FDA [more]
  • eBay (EBAY) plans to sell an 80.01% stake in its Korean business to Esmart for $3B in cash proceeds [more]
  • Clover Health (CLOV) is planning an expansion into 101 new markets [more]
  • BuzzFeed plans to go public via a merger with 890 5th Avenue Partners (EFA) [more]
  • Microsoft (MSFT) unveiled Windows 11 with direct Teams and Xbox Game Pass integration [more]


2. WALL STREET CALLS: 

  • Piper downgrades Dollar Tree (DLTR) to Neutral on inability to pass on inflation pressures [more]
  • Deutsche Bank upgrades GlaxoSmithKline (GSK) to Hold on "obviously improving" story [more]
  • Deutsche upgrades MGM Resorts (MGM) to Buy on margin upside potential [more]
  • Ericsson (ERIC) downgraded to Sell from Neutral at UBS [more]
  • MoffettNathanson analyst Clay Griffin initiated coverage of Electronic Arts (EA) with a Neutral rating, Activision Blizzard (ATVI) with a Buy rating and Take-Two Interactive (TTWO) with a Buy rating [more]


3. AROUND THE WEB: 

  • Citi (C) has officially launched a crypto unit in its wealth management division, The Block reports [more]
  • ChromaDex (CDXC) is "pure hype," JCapital Research says in short report [more]
  • Volkswagen (VWAGY) has confirmed a potential bid for a majority stake in Europcar (EURMF), Bloomberg reports [more]
  • AmerisourceBergen (ABC) and private equity groups are showing takeover interest in Parexel, Bloomberg says [more]
  • JPMorgan (JPM) has told staff they may be required to get vaccinated, Bloomberg reports [more]


4. MOVERS: 

  • Arcus (RCUS) rises after reporting its Phase 2 ARC-7 study showed “encouraging” clinical activity [more]
  • ViewRay (VRAY) gains after expanding its partnership with GenesisCare and after receiving an order for up to 14 MRIdian Systems from GenesisCare [more]
  • First Solar (FSLR) higher after Bloomberg reported that the U.S. is preparing to bar some solar products made in China’s Xinjiang region, which Citi analyst J.B. Lowe said would have positive implications [more]
  • Talos Energy (TALO) declines after announcing a 5M share Spot Secondary offering priced at $17.50 [more]
  • Beyond Meat (BYND) falls after JPMorgan analyst said Dunkin’ Donuts recently discontinued its breakfast sandwich offering that featured Beyond Meat’s Beyond Sausage [more]


5. EARNINGS: 

  • Accenture (ACN) rises after "beat and raise" report [more]
  • Rite Aid (RAD) slips after providing downbeat FY22 earnings guidance [more]
  • KB Home (KBH) falls after reporting lower than expected Q2 revenue [more]
  • Carnival (CCL) lower after guiding for another quarter of net loss [more]
  • Darden (DRI) higher after reporting upbeat Q4 results [more]


INDEXES: 

Near midday, the Dow was up 239.64, or 0.71%, to 34,113.88, the Nasdaq was up 137.88, or 0.97%, to 14,409.61, and the S&P 500 was up 25.05, or 0.59%, to 4,266.89.

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