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:

• JPMorgan (JPM) and Goldman Sachs (GS) shares slip despite strong second quarter earnings from both after hotter than expected inflation data [more]
• PepsiCo (PEP) rises after reporting better than expected Q2 results [more]
• Boeing (BA) to lower 787 production rates as FAA finds structural flaws [more]
  
• Fortive (FTV) agreed to acquire ServiceChannel for roughly $1.2B [more]
• Middleby (MIDD) will not increase its offer to acquire Welbilt (WBT) [more]

2. WALL STREET CALLS:

• Electronic Arts (EA) upgraded to Outperform from Market Perform at BMO Capital [more]
• Gordon Haskett double upgrades Airbnb (ABNB) to Buy on improved digital engagement [more]
• Benchmark starts Roblox (RBLX) at Sell with $75 price target [more]
• Boeing (BA) upgraded to Peer Perform at Wolfe Research after United's big order [more]
• Argus downgrades United Airlines (UAL) on corporate travel reliance [more]

3. AROUND THE WEB:

• Netflix (NFLX), Universal (CMCSA) are expanding their animated film licensing deal, Variety reports [more]
• Apple (AAPL) is considering manufacturing Apple Car batteries in the U.S., DigiTimes says [more]
• Starwood made a rival acquisition offer for Monmouth Real Estate (MNR), Bloomberg reports [more]
• Elon Musk defended Tesla's (TSLA) SolarCity acquisition in court testimony, FT reports [more]
• Apollo (APO) is in talks to buy over $5B in assets from Lumen (LUMN), Bloomberg says [more]

4. MOVERS:

• Nokia (NOK) gains in New York after announcing it expects to revise upwards its prior outlook ranges for 2021 [more]
• Bilibili (BILI) rises in New York after China Renaissance analyst Yiwen Zhang assumed coverage of the stock with a Buy rating and a price target of $75 [more]
• FibroGen (FGEN) falls after the FDA posted briefing documents for the upcoming meeting to discuss the data supporting its New Drug Application for roxadustat [more]
• Two Harbors (TWO) lower after filing to sell 40M shares priced at $6.50 [more]
• Affirm (AFRM) slips after Bloomberg reports Apple is working with Goldman on a "Buy Now, Pay Later" service [more]

5. EARNINGS/GUIDANCE:

• Pacira (PCRX) reported better than expected quarterly revenue [more]
• Fastenal (FAST) reported quarterly results [more]
  
• Conagra Brands (CAG) lowered its FY22 adjusted earnings guidance [more]
• Simulations Plus (SLP) reported downbeat quarterly revenue [more]
• Meridian Bioscience (VIVO) reported downbeat preliminary Q3 revenue [more]

INDEXES:

The Dow fell 107.39, or 0.31%, to 34,888.79, the Nasdaq lost 55.59, or 0.38%, to 14,677.65, and the S&P 500 declined 15.42, or 0.35%, to 4,369.21.