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AMZN, ALT, BBBY...
6/30/2021 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: 

  • Senator Elizabeth Warren has called on the FTC to review Amazon's (AMZN) proposed MGM acquisition [more]
  • Altimmune (ALT) plans to discontinue further development of its AdCOVID vaccine [more]
  • Along with earnings, Bed Bath & Beyond (BBBY) reported Q1 comp sales growth of 86% [more]
  • General Mills (GIS) also reported upbeat quarterly results [more]
  • Celanese (CE) will acquire the Santoprene TPV business from Exxon Mobil (XOM) for $1.15B [more]


2. WALL STREET CALLS: 

  • Virgin Galactic (SPCE) double-downgraded to Underperform from Buy at BofA [more]
  • Morgan Stanley double downgrades "overvalued" AppLovin (APP) to Underweight [more]
  • Micron (MU) upgraded to Outperform from Market Perform at BMO Capital ahead of earnings [more]
  • Seagate (STX) upgraded to Equal Weight from Underweight at Barclays [more]
  • Roblox (RBLX) initiated with Overweight rating, $96 price target at Citic Securities [more]


3. AROUND THE WEB: 

  • Fastly (FSLY) has been added to the "takeover target watch list" at Dealreporter [more]
  • Toshiba (TOSYY) investors could force the board to consider private equity-led buyout offers, FT reports [more]
  • Nissan (NSANY) is seeking $145M in damages from an Italian battery supplier, Bloomberg says [more]
  • Microsoft (MSFT) and Google (GOOGL) are not keen on renewing a recently expired truce, Bloomberg reports [more]
  • Apollo (APO) lost a key court ruling in a Ceva share case, NY Post says [more]


4. MOVERS: 

  • AST SpaceMobile (ASTS) rises after Deutsche Bank analyst Bryan Kraft initiated coverage of the stock with a Buy rating and $35 price target [more]
  • Vertex Energy (VTNR) gains after signing a definitive agreement with Clean Harbors (CLH) to sell certain assets related to its used motor oil business in an all-cash transaction for $140M [more]
  • Hutchmed (HCM) higher in New York after listing its shares on the main board of the Stock Exchange of Hong Kong [more]
  • Atea Pharmaceuticals (AVIR) declines after announcing interim results from its Phase 2 study of AT-527 in hospitalized patients with mild-to-moderate COVID-19 [more]
  • Vaxart (VXRT) falls after B. Riley analyst Mayank Mamtani downgraded the stock to Neutral from Buy with a price target of $9, down from $13 [more]


5. EARNINGS/GUIDANCE: 

  • Constellation Brands (STZ) reports Q1 results, raises 2022 EPS guidance [more]
  • Qumu (QUMU) reports preliminary Q2 revenue [more]
  • Easterly Government Properties (DEA) ups FY21 FFO view [more]
  • Creatd (CRTD) backs Q2 revenue view, issues Q3 outlook [more]
  • AeroVironment (AVAV) reports Q4 results, backs FY22 EPS view [more]


INDEXES: 

Near midday, the Dow was up 187.79, or 0.55%, to 34,480.08, the Nasdaq was down 22.42, or 0.15%, to 14,505.92, and the S&P 500 was up 4.50, or 0.10%, to 4,296.30.

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