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SQ, DG, OKTA...
12/2/2021 16:12pm
Wall Street in Fives - Must Read Lists for Thursday

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:

  • Square (SQ) is changing its company name to Block, but holding onto the Square brand [more]
  • Dollar General (DG) reported upbeat quarterly results and raised its share repurchase authorization by $2B [more]
  • Okta (OKTA) provided a "beat and raise" report for Q3 [more]
  • Snowflake (SNOW) reported upbeat Q3 revenue [more]
  • The FTC has sued to block Nvidia's (NVDA) proposed $40B purchase of Arm from SoftBank (SFTBY) [more]

2. WALL STREET CALLS:

  • Okta (OKTA) upgraded to Overweight from Neutral at Piper Sandler [more]
  • Citi upgrades Snowflake (SNOW) with $470 target following Q3 report [more]
  • Wedbush sees $3 trillion market cap for Apple (AAPL) in 2022, ups price target to $200 [more]
  • Amazon.com (AMZN) assumed with a Buy at UBS [more]
  • C3.ai (AI) downgraded to Underperform at BofA after "disappointing" Q2 report [more]

3. AROUND THE WEB:

  • Apple (AAPL) will convey to suppliers that iPhone 13 demand is slowing, Bloomberg says [more]
  • China issued an airworthiness directive for the Boeing (BA) 737 MAX, WSJ reports [more]
  • Google (GOOG) plans to launch a "Pixel Watch" in 2022, Insider reports [more]
  • General Motors (GM) does not plan to build new Chevy Bolt vehicles until at least late January 2022, The Verge says [more]
  • BuzzFeed is not expected to raise much cash through its public listing as investors in 890 5th Avenue Partners (ENFA), the SPAC with which it is merging, are withdrawing the bulk of their investments, WSJ reports [more]

4. MOVERS:

  • Clarivate (CLVT) gains after announcing executive VP and CFO Richard Hanks is leaving [more]
  • Kroger (KR) higher after reporting quarterly results [more]
  • Katapult (KPLT) down after providing interim data on its gross originations [more]
  • MEI Pharma (MEIP) declines after announcing a 17.5M share offering priced at $2.60 [more]
  • Elastic (ESTC) and C3.ai (AI) lower after reporting quarterly results [more]

5. EARNINGS/GUIDANCE:

  • 3M (MMM) sees Q4 organic growth in the bottom half of its previously provided guidance [more]
  • Geo Group (GEO) cut its FY21 adjusted FFO guidance [more]
  • Kirkland's (KIRK) reported downbeat Q3 results [more]
  • Land's End (LE) cut its FY21 earnings and revenue guidance [more]
  • Five Below (FIVE) beat sales and earnings expectations in Q3 [more

INDEXES:

The Dow rose 617.75, or 1.82%, to 34,639.79, the Nasdaq gained 127.27, or 0.83%, to 15,381.32, and the S&P 500 advanced 64.06, or 1.42%, to 4,577.10.

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