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COF, LEN, ABUS...
12/1/2021 12:12pm
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: 

  • Salesforce (CRM) provided a "beat and raise" report for Q3 [more]
  • Exxon Mobil (XOM) will maintain capital investments of $20B-$25B through 2027 [more]
  • HP Enterprise (HPE) reported upbeat Q4 results [more]
  • The FDA's Antimicrobial Drugs Advisory Committee voted to recommend Merck (MRK) and Ridgeback's COVID antiviral drug [more]
  • Zscaler (ZS) reported upbeat Q1 earnings and revenue [more]


2. WALL STREET CALLS: 

  • Krispy Kreme (DNUT) downgraded to Sell from Neutral at Goldman Sachs [more]
  • Gordon Haskett sees "compelling re-entry point," upgrades DoorDash (DASH) to Buy [more]
  • Capital One (COF) upgraded to Neutral after underperformance at Baird [more]
  • D.R. Horton (DHI) downgraded to Neutral from Buy at Goldman Sachs [more]
  • Lennar (LEN) upgraded to Buy from Neutral at Goldman Sachs [more]


3. AROUND THE WEB: 

  • UniCredit (UNCRY) anticipates 3,000 job cuts, Bloomberg reports [more]
  • Byron Allen's $10B McDonald's (MCD) discrimination suit has been thrown out, Reuters reports [more]
  • Microsoft (MSFT) shareholders approved a sexual harassment disclosure proposal, WSJ says [more]
  • Stellantis (STLA) CEO Carlos Tavares said the EV cost burden "is beyond the limits," Reuters reports [more]
  • 23andMe (ME) is developing immuno-oncology drugs with SPAC cash, WSJ reports [more]


4. MOVERS: 

  • Arbutus Biopharma (ABUS) jumps after Moderna (MRNA) denied appeal in drug delivery patent fight [more]
  • ImmunoGen (IMGN) rises after Jefferies analyst Kelly Shi upgraded the stock to Buy from Hold [more]
  • Build-A-Bear (BBW) and G-III Apparel (GIII) higher after reporting quarterly results [more]
  • BeyondSpring (BYSI) falls after the FDA determined that the plinabulin NDA cannot be approved in its present form [more]
  • CTI BioPharma (CTIC) lower after announcing the FDA has extended the review period for the new drug application for pacritinib for the treatment of adult patients with intermediate or high-risk primary or secondary myelofibrosis [more]


5. EARNINGS/GUIDANCE: 

  • Allbirds (BIRD) slips after first report since coming public [more]
  • Box (BOX) reported upbeat Q3 results and expanded its stock buyback program [more]
  • GlobalFoundries (GFS) reported what Morgan Stanley called a "solid" first report since coming public [more]
  • Ambarella (AMBA) reported upbeat Q3 results [more]
  • Celestica (CLS) reaffirmed its Q4 earnings and revenue guidance [more]


INDEXES: 

Near midday, the Dow was up 458.49, or 1.33%, to 34,942.21, the Nasdaq was up 239.05, or 1.54%, to 15,776.74, and the S&P 500 was up 78.90, or 1.73%, to 4,645.90.

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