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JNJ, SAVA, PBTS...
8/25/2021 16:08pm
Wall Street in Fives - Must Read Lists for Wednesday

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:

  • Johnson & Johnson (JNJ) announced data to support boosting COVID-19 vaccine [more]
  • Cassava Sciences (SAVA) responded to allegations regarding scientific integrity [more]
  • Powerbridge (PBTS) signs purchase agreement for 5,600 BTC, ETh mining machines [more]
  • Takeda (TAK) halts distribution of 1.63M Moderna (MRNA) doses over 'foreign matter' [more]
  • Carnival's (CCL) Princess Cruises announced that its Island Princess, Diamond Princess will return to service in the spring of 2022 [more]

2. WALL STREET CALLS:

  • Morgan Stanley cuts Theravance Biopharma (TBPH) to Underweight after failed UC study [more]
  • Citi adds Medtronic (MDT) to Focus List, boosts price target [more]
  • Beyond Meat (BYND) downgraded to Hold at Argus on disappointing guidance [more]
  • Rent-A-Center (RCII) started with Buy at BofA on lease-to-own rollout opportunity [more]
  • PNM Resources (PNM) downgraded to Hold from Buy at Argus, with the company set to be acquired by Avangrid (AGR) [more]

3. AROUND THE WEB:

  • Goldman Sachs (GS) mandates vaccines for workers, visitors, NYTimes reports [more]
  • Kohl's (KSS) sees 'plenty of room' for it, Amazon (AMZN) to operate B&M stores, CNBC reports [more]
  • TSMC (TSM) to boost quotes for sub-16nm process manufacturing, DigiTimes reports [more]
  • BaFin rejects claims of insider trading in Daimler (DDAIF), Aston Martin (ARGGY) shares, FT says [more]
  • Western Digital (WDC) in advanced talks to merge with Kioxia, WSJ reports [more]

4. MOVERS:

  • Novavax (NVAX) increases after announcing its vaccine candidate is being studied in OCTAVE-DUO, now underway in the UK to evaluate the safety and immunogenicity of a third COVID-19 vaccine dose in participants with impaired immune systems [more]
  • Moderna higher after completing the rolling submission process for its Biologics License Application to the FDA for the full licensure of Moderna COVID-19 Vaccine to prevent COVID-19 in individuals 18 years of age and older [more]
  • Affirm (AFRM) gains after BofA analyst Jason Kupferberg raise the firm’s price target on the stock to $82 from $71 and keeps a Buy rating on the shares [more]
  • Robinhood (HOOD) lower after The Wall Street Journal reported the company is currently facing backlash from other companies and scrutiny from regulators over the cost of delivering proxy materials to millions of new shareholders [more]
  • Qiwi (QIWI) down 8% to 8.90 after JPMorgan highlights Russia contract loss [more]

5. EARNINGS/GUIDANCE:

  • Dick's Sporting Goods (DKS) reports Q2 earnings that handily beat analysts' estimates [more]
  • Nordstrom (JWN) says Q2 revenue was still below pre-pandemic levels [more]
  • Toll Brothers (TOL) reports Q3 EPS above analysts' estimates [more]
  • Express (EXPR) reports an unexpected profit for Q2 [more]
  • Urban Outfitters (URBN) earned $1.28 per share for Q2, beating the 78c consensus estimate [more]

INDEXES:

The Dow rose 39.24, or 0.11%, to 35,405.50, the Nasdaq gained 22.06, or 0.15%, to 15,041.86, and the S&P 500 advanced 9.96, or 0.22%, to 4,496.19.

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