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:

• Pfizer (PFE) provided a "beat and raise" report for Q3, sees FY21 revenue of $36B from Comirnaty vaccine [more]
• Tesla (TSLA) CEO Elon Musk said that "no contract has been signed yet" with Hertz (HTZZ) [more]
• DuPont (DD) reported quarterly results and agreed to acquire Rogers Corporation (ROG) in all-cash deal valued at $5.2B [more]
• Facebook (FB) said it is shutting down its Face Recognition system [more]
• Netflix (NFLX) is launching first five video games on its mobile app [more]

2. WALL STREET CALLS:

• Chegg (CHGG) downgraded by no less than seven Street firms after Q4 guidance and fiscal 2022 commentary [more]
• Exxon Mobil (XOM) downgraded to Sell from Hold at Truist [more]
• Nomura downgrades Ford (F) to Reduce, calls premium valuation "hard to justify" [more]
• Expedia (EXPE) downgraded to Neutral on valuation at Atlantic Equities [more]
• Joyy (YY) downgraded to Sell from Neutral at Goldman Sachs [more]

3. AROUND THE WEB:

• Apple (AAPL) is cutting back iPad production to allocate chips to the iPhone 13, Nikkei reports [more]
• Frances Haugen, the former Facebook (FB) employee who leaked internal research, believes Mark Zuckerberg should step down as CEO, CNBC reports [more]
• Microsoft (MSFT) CEO tells Bloomberg company eyeing gaming experiences for metaverse [more]
• Nintendo (NTDOY) will make 20% fewer Switch consoles amid chip shortages, Nikkei reports [more]
• J&J (JNJ), Teva (TEVA), Endo (ENDP) and AbbVie's (ABBV) Allergan won a $50B opioid case in California, Bloomberg says [more]

4. MOVERS:

• Avis Budget (CAR) skyrockets after the company reported a strong quarter, plans to add more EVs to fleet [more]
• Switchback II (SWBK) rises after shareholders approved its business combination with Bird Rides [more]
• Arista Networks (ANET) higher after reporting better than expected Q3 earnings and revenue [more]
• Triterras (TRIT) slips after an "unanticipated delay" of its audit finalization [more]
• Global Payments (GPN) lower after quarterly report [more]

5. EARNINGS/GUIDANCE:

• BP (BP) reported quarterly results and announced plans for an additional $1.25B share buyback [more]
• Under Armour (UAA) provided a "beat and raise" report for Q3 [more]
• Simon Property (SPG) also provided a "beat and raise" report for Q3 [more]
• Estee Lauder (EL) reported upbeat Q1 results [more]
• Clorox (CLX) reported a Q1 beat, expects "cost pressures to persist" in FY22  [more]

INDEXES:

The Dow rose 138.79, or 0.39%, to 36,052.63, the Nasdaq gained 53.69, or 0.34%, to 15,649.60, and the S&P 500 advanced 16.98, or 0.37%, to 4,630.65.