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12/14/2021 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: 

  • Pfizer (PFE) says final results from its COVID oral antiviral candidate are consistent with interim analysis [more]
  • 3M (MMM) plans to combine its food safety business with Neogen (NEOG) [more]
  • Terminix (TMX) agreed to be acquired by Rentokil (RTOKY) for $6.7B in a cash and stock deal [more]
  • Purple Innovation (PRPL) named Robert DeMartini acting CEO and revised its FY21 revenue outlook [more]
  • Hexo (HEXO) announced that CFO Trent MacDonald will depart and that John Bell will become board chair [more]


2. WALL STREET CALLS: 

  • BofA upgrades Apple (AAPL) to Buy into "game-changer" headset launch [more]
  • Ralph Lauren (RL) downgraded to Sell from Buy at Goldman Sachs [more]
  • Beyond Meat (BYND) upgraded to Neutral at Piper on pending McDonald's (MCD) McPlant launch [more]
  • Dell Technologies (DELL) downgraded to In Line at Evercore [more]
  • Doximity (DOCS) downgraded to Underweight from Neutral at JPMorgan [more]


3. AROUND THE WEB: 

  • Instagram (MVRS;FB) reached 2B monthly active users in October, CNBC reports [more]
  • Kerrisdale announced a short position in Meta Materials (MMAT) [more]
  • Toyota (TM) intends to invest Y4T in battery-powered EVs, CNBC reports [more]
  • Netflix (NFLX) is cutting India subscription prices, Variety reports [more]
  • Starbucks (SBUX) employees in the Boston area are pushing to unionize, Bloomberg reports [more]


4. MOVERS: 

  • EQT Corporation (EQT) higher after announcing its board has approved a $1B share repurchase program and reinstated its regular dividend starting in Q1 of 2022 [more]
  • Nov Inc. (NOV) rises after JPMorgan analyst Arun Jayaram upgraded the stock to Overweight [more]
  • Generation Bio (GBIO) falls after providing an update on factor VII expression from a series of studies in hemophilia A [more]
  • Cabaletta Bio (CABA) down after reporting activity from the two lowest dose cohorts in its DesCAARTes Phase 1 clinical trial of DSG3-CAART [more]
  • Adagio Therapeutics (ADGI) plunges as data shows treatment not as effective against omicron [more]


5. EARNINGS/GUIDANCE: 

  • CommScope (COMM) provided guidance as part of investor day meeting [more]
  • Campbell Soup (CPB) provided its adjusted earnings growth outlook for fiscal 2022-2025 [more]
  • Avaya (AVYA) gave its revenue growth targets for FY23, FY24 and longer-term [more]
  • Champions Oncology (CSBR) reported upbeat Q2 results [more]
  • Algonquin Power (AQN) provided FY22 adjusted earnings guidance [more]


INDEXES: 

Near midday, the Dow was down 172.86, or 0.48%, to 35,478.09, the Nasdaq was down 282.95, or 1.84%, to 15,130.33, and the S&P 500 was down 56.17, or 1.20%, to 4,612.80.

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