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PENN, SCR, VNE...
8/5/2021 12:08pm
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: 

  • Penn National (PENN) reported quarterly results and agreed to acquire Score Media (SCR) for $2B in cash and stock [more]
  • Uber (UBER) reported upbeat quarterly earnings and revenue [more]
  • Booking (BKNG) reported Q2 losses, encouraged by "meaningful sequential improvement" [more]
  • Robinhood (HOOD) shares slipping after company filed to sell up to 97.88M shares for shareholders [more]
  • Qualcomm (QCOM) offered to acquire Veoneer (VNE) for $37 per share in cash [more]


2. WALL STREET CALLS: 

  • Walmart (WMT) upgraded to Overweight after share underperformance at Wells Fargo [more]
  • Avis Budget (CAR) upgraded to Overweight with $100 target at JPMorgan [more]
  • Revolve Group (RVLV) downgraded to Outperform at Raymond James and cut to Sector Weight post results at KeyBanc [more]
  • BofA double downgrades Cardinal Health (CAH) to Underperform after earnings, sees "too many unknowns" [more]
  • Western Digital (WDC) downgraded to Hold from Buy at Summit Insights [more]


3. AROUND THE WEB: 

  • Short-seller The Bear Cave sees "problems" at OppFi (OPFI) [more]
  • GSK (GSK) was granted a bid to reinstate a $235M patent verdict over Teva (TEVA), Bloomberg reports [more]
  • Spruce Point issued a short report on Genius Sports (GENI), sees 60%-80% downside [more]
  • CVS (CVS) will stop offering J&J's (JNJ) COVID-19 vaccines in pharmacies, CNBC reports [more]
  • SoftBank (SFTBY) will invest $100M in Honor Ventures, FT reports [more]


4. MOVERS: 

  • Astra Space (ASTR) gains after announcing a launch window for its first commercial orbital launch with the U.S. Space Force [more]
  • Ocugen (OCGN) rises after the Times Now of India reported that Covaxin, the company's COVID-19 candidate vaccine, will likely get WHO clearance after August 15 [more]
  • Gogo (GOGO), Datadog (DDOG), and Wayfair (W) higher, respectively, after reporting quarterly results [more]
  • Green Plains (GPRE) falls after announcing a 4.75M share offering priced at $32 [more]
  • Nevro (NVRO), Karyopharm (KPTI), Fastly (FSLY), and Fiverr International (FVRR) lower, respectively, in New York after reporting quarterly results [more]


5. EARNINGS/GUIDANCE: 

  • Etsy (ETSY) reported upbeat quarterly earnings and revenue [more]
  • Roku (ROKU) reported much better than expected Q2 earnings [more]
  • Electronic Arts (EA) raised its FY22 earnings guidance [more]
  • Adtran (ADTN) reported upbeat Q2 results [more]
  • Pinnacle West (PNW) also reported upbeat quarterly results [more]


INDEXES: 

Near midday, the Dow was up 191.45, or 0.55%, to 34,984.12, the Nasdaq was up 92.26, or 0.62%, to 14,872.79, and the S&P 500 was up 17.43, or 0.40%, to 4,420.09.

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