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MRK, EMR, AZPN...
10/11/2021 12:10pm
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: 

  • Merck (MRK) and Ridgeback submitted an EUA to the FDA for investigational COVID-19 antiviral treatment molnupiravir [more]
  • Emerson Electric (EMR) and AspenTech (AZPN) announced a deal that will see Emerson's industrial software businesses combined with AspenTech and Emerson owning 55% of AspenTech following the $11B transaction [more]
  • Pacira Biosciences (PCRX) will acquire Flexion Therapeutics (FLXN) for $8.50 per share in cash plus a contingent value right worth up to $8.00 per share in cash [more]
  • Supernus (SUPN) agreed to acquire Adamas Pharmaceuticals (ADMS) for up to $9.10 per share [more]
  • GlaxoSmithKline (GSK) planning a new U.K. headquarters for new consumer healthcare company [more]


2. WALL STREET CALLS: 

  • Starbucks (SBUX) upgraded to Buy at Deutsche Bank after recent pullback [more]
  • Comcast (CMCSA) downgraded to Market Perform from Outperform at Raymond James [more]
  • SoFi Technologies (SOFI) initiated with an Overweight at Morgan Stanley [more]
  • Hyllion Holdings (HYLN) downgraded to Sell from Neutral at UBS [more]
  • GM's (GM) 2030 outlook supports $200 sum-of-the-parts stock price, says Citi [more]


3. AROUND THE WEB: 

  • Southwest Airlines (LUV) canceled over 1,800 flights over the weekend, WSJ reports [more]
  • Credit Suisse's (CS) Greensill report has been delayed due to legal issues, FT reports [more]
  • KKR (KKR), Axa (AXAHY), and Allianz (AZSEY) will bid for a 49% stake in Red Electrica's (RDEIY) Reintel unit, Reuters says [more]
  • Facebook (FB) will try to "nudge" teens away from harmful content, Reuters reports [more]
  • Apple (AAPL) is appealing the App Store ruling in its fight with Epic Games, NY Times reports [more]


4. MOVERS: 

  • Protagonist Therapeutics (PRGX) surges after the FDA removed a clinical hold on its rusfertide program [more]
  • Ocular Therapeutix (OCUL) jumps after an FDA posting indicated approval of a new indication for Dextenza [more]
  • Cleveland-Cliffs (CLF) rises after agreeing to acquire Ferrous Processing and Trading Company for $775M [more]
  • PagSeguro (PAGS) falls after Brazilian Central Bank announced a public consultation about capping interchange fees on prepaid card transactions [more]
  • Sarepta (SRPT) lower after announcing functional data from its SRP-9001 development program [more]


5. EARNINGS/GUIDANCE: 

  • Aptiv (APTV) lowered its FY21 revenue guidance [more]
  • Gol Linhas (GOL) provided Q3 earnings guidance [more]
  • Emerson Electric (EMR) reiterated its FY21 earnings guidance [more]
  • Byrna Technologies (BYRN) beat sales expectation with report for Q3 [more]
  • Nephros (NEPH) provided Q3 revenue guidance [more]


INDEXES: 

Near midday, the Dow was up 111.58, or 0.32%, to 34,857.83, the Nasdaq was up 44.31, or 0.30%, to 14,623.84, and the S&P 500 was up 10.38, or 0.24%, to 4,401.72.

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