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10/18/2021 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: 

  • Zillow (Z) suspends signing of new contracts through 2021 in Offers home buying business [more]
  • CDW (CDW) to acquire Sirius Computer Solutions for $2.5B in cash [more]
  • Toyota (TM) to invest $3.4B in batteries through 2030, build new battery plant [more]
  • Apple (AAPL) is holding a virtual "Unleashed" event at 1 pm [more]
  • Macy's (M) jumps as Saks e-commerce unit said to triple in value [more]


2. WALL STREET CALLS: 

  • Barclays downgrades Disney (DIS) to Equal Weight on slowing of streaming growth [more]
  • Virgin Galactic (SPCE)downgraded to Sell from Neutral at UBS [more]
  • Medtronic (MDT) growth pathway now "a little riskier," says Piper Sandler [more]
  • Infinera (INFN) downgraded to Underweight on supply chain risk at JPMorgan [more]
  • NetApp (NTAP) downgraded to Sell from Neutral at Goldman Sachs [more]


3. AROUND THE WEB: 

  • Netflix (NFLX) is estimating that "Squid Game" will be worth almost $900M, Bloomberg reports [more]
  • Saks e-commerce unit has begun IPO preparations, WSJ reports [more]
  • Alibaba (BABA) is planning to launch its own cloud server chip, Caixin Global says [more]
  • Goldman Sachs (GS) received approval of full ownership of its China venture, FT reports [more]
  • Prescience Point announced a long position in AerSale (ASLE) with a $45 target [more]


4. MOVERS: 

  • Peabody Energy (BTU) higher after releasing its third quarter revenue guidance [more]
  • Antero Resources (AR) rises after Mizuho analyst Vincent Lovaglio upgraded the stock to Buy from Neutral with a price target of $32 [more]
  • Omeros (OMER) declines after receiving a Complete Response Letter from the FDA regarding its Biologics License Application for narsoplimab in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy [more]
  • MannKind (MNKD) lower after announcing the FDA issued a complete response to United Therapeutics (UTHR) regarding the New Drug Application for Tyvaso DPI for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease [more]
  • Latch (LTCH) falls after Goldman Sachs analyst Rod Hall downgraded the stock to Neutral from Buy with a price target of $10, down from $16 [more]


5. EARNINGS/GUIDANCE: 

  • State Street (STT) reported upbeat Q3 results [more]
  • Albertsons (ACI) provided a "beat and raise" report for Q2 [more]
  • Clarus (CLAR) raised its FY21 revenue guidance [more]
  • LHC Group (LHCG) reported downbeat Q3 results [more]
  • Middlefield Banc (MBCN) reported better than expected Q3 earnings [more]


INDEXES: 

Near midday, the Dow was down 32.46, or 0.09%, to 35,262.30, the Nasdaq was up 65.58, or 0.44%, to 14,962.92, and the S&P 500 was up 7.58, or 0.17%, to 4,478.95.

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