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FB, BX, MGM...
9/27/2021 12:09pm
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: 

  • Facebook's (FB) Instagram pausing work on "Instagram Kids" [more]
  • Blackstone (BX) agreed to sell The Cosmopolitan of Las Vegas to MGM resorts (MGM) for $1.625B [more]
  • High-performance electric car maker Polestar (PSNY) will go public via a merger with Gores Guggenheim (GGPI) [more]
  • GSK (GSK) and Vir (VIR) received Japanese approval for Xevudy, a monoclonal antibody for COVID treatment [more]
  • Apple (AAPL) and Tesla (TSLA) suppliers halted production at Chinese facilities, Nikkei reports [more]


2. WALL STREET CALLS: 

  • Lordstown Motors (RIDE) downgraded to Sell from Neutral at Goldman Sachs [more]
  • Airbnb (ABNB) initiated with a Neutral at JPMorgan [more]
  • Altice USA (ATUS) downgraded to Market Perform from Outperform at Raymond James and cut to Neutral from Outperform at Credit Suisse [more]
  • Morgan Stanley cuts Amazon (AMZN) target to $4,100 on rising wage pressure [more]
  • Goldman Sachs analyst Mark Delaney lowered the firm's price target on General Motors (GM) as well as lowering his earnings estimates for a number of auto suppliers and lidar companies to reflect a reduced production outlook [more]


3. AROUND THE WEB: 

  • Acceleron (XLRN) is in advanced talks to be acquired for about $180 per share, Bloomberg reports [more]
  • Humana (HUM) claims it overpaid for Biogen's (BIIB) MS drugs, Bloomberg says [more]
  • Deutsche Bank's (DB) asset management unit ignored calls to use ESG data, WSJ reports [more]
  • Credit Suisse (CS) plans to return about $400M to investors in funds that invested in Greensill products, Bloomberg reports [more]
  • Google (GOOGL) is seeking to overturn the EU's $5B antitrust decision, WSJ says [more]


4. MOVERS: 

  • Red Cat (RCAT) surges after its subsidiary, Skypersonic, was awarded a five-year contract with NASA to provide drone and rover software, hardware and support for its Simulated Mars mission [more]
  • Aspen Group (ASPU) rises after announcing that board member Douglas Kass bought 32,000 shares of common stock on September 22 in a total transaction size of $172,000 [more]
  • Vinco Ventures (BBIG) higher as the stock is the highest trending ticker on StockTwits and is also in the top-10 on WallStreetBets Reddit thread in terms of message volume over the past 24 hours [more]
  • Aslan Pharmaceuticals (ASLN) falls after announcing topline data from its multiple-ascending-dose Phase 1 study of ASLAN004 for the treatment of moderate-to-severe atopic dermatitis [more]
  • Capricor Therapeutics (CAPR) lower after announcing final data from the HOPE-2 clinical trial using CAP-1002 to treat patients in advanced stages of Duchenne muscular dystrophy [more]


5. EARNINGS/GUIDANCE: 

  • SeaSpine (SPNE) provided Q3 revenue guidance but withdrew its FY21 guidance [more]
  • iBio (IBIO) reported year-over-year growth in earnings in 2021 [more]
  • Prime Mining (PRMNF) reported quarterly earnings [more]
  • JinkoSolar (JKS) provided Jiangxi Jinko revenue for nine months as part of process of applying for an IPO of the subsidiary on the Sci-Tech innovation board [more]
  • Puyi (PUYI) reported 2021 results [more]


INDEXES: 

Near midday, the Dow was up 138.00, or 0.40%, to 34,936.00, the Nasdaq was down 111.50, or 0.74%, to 14,936.20, and the S&P 500 was down 12.11, or 0.27%, to 4,443.37.

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