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:

• The Federal Reserve is keeping its interest rate benchmark unchanged at 0%-0.25%, saying that reducing asset purchases "may soon be warranted" [more]
• FedEx (FDX) reported lower than expected adjusted earnings for Q1 and lowered its FY22 outlook [more]
• Gilead (GILD) said that Veklury reduced COVID-19 related hospital risk by 87% in a study of those at high-risk [more]
• Pfizer (PFE) and BioNTech (BNTX) will supply an additional 500M COVID-19 vaccine doses to poor countries [more]
• Robinhood (HOOD) said that crypto wallets are on the way [more]

2. WALL STREET CALLS:

• Xponential Fitness (XPOF) double upgraded to Strong Buy at Raymond James [more]
• SoFi (SOFI) higher as Jefferies says Buy, sees over 50% upside potential [more]
• Evercore starts SunPower (SPWR) at Outperform, sees 26% upside potential [more]
• Ambarella (AMBA) upgraded to Overweight from Sector Weight at KeyBanc [more]
• FibroGen (FGEN) downgraded to Sell from Neutral at Goldman Sachs [more]

3. AROUND THE WEB:

• Amazon (AMZN) plans to open department stores to sell its clothing brands, WSJ reports [more]
• More than 5M pre-orders have been made for Apple's (AAPL) iPhone 13 range in China, SCMP says [more]
• EDF (ECIFF) is in early talks to acquire GE's (GE) nuclear turbines unit, Bloomberg says [more]
• Biogen (BIIB) is weighing layoffs amid a bleak Aduhelm launch, STAT reports [more]
• McDonald's (MCD) will significantly cut its use of plastic in toys by 2025, Reuters reports [more]

4. MOVERS:

• Dynavax (DVAX) increases after reporting “positive” data from its Phase 2/3 clinical trial studying the company’s protein-based COVID-19 vaccine candidate, SCB-2019 [more]
• Teck Resources (TECK) rises in New York after BMO Capital analyst Jackie Przbylowski upgraded the stock to Outperform with a raised price target of C$44 [more]
• Gaotu Techedu (GOTU) higher in New York after announcing quarterly results [more]
• Workhorse Group (WKHS) lower after deciding to suspend the deliveries of C-1000 vehicles and recalling 41 vehicles it had already delivered [more]
• Incyte (INCY) falls after the FDA approved the company’s Opzeluara cream in Atopic Dermatitis treatment, whose label will carry the FDA’s JAK-class warning [more]

5. EARNINGS/GUIDANCE:

• General Mills (GIS) reported upbeat Q1 results [more]
• InnovAge (INNV) reported better than expected Q4 revenue [more]
• BioDelivery Sciences (BDSI) provided Q3 revenue guidance [more]
• Adobe (ADBE) reported upbeat Q3 earnings and revenue [more]
• Stitch Fix (SFIX) reported a surprise profit in Q4 [more]

INDEXES:

The Dow rose 338.48, or 1.00%, to 34,258.32, the Nasdaq gained 150.45, or 1.02%, to 14,896.85, and the S&P 500 advanced 41.45, or 0.95%, to 4,395.64.