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1/7/2022 16:01pm
Wall Street in Fives - Must Read Lists for Friday

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:

  • The ITC determined that Google (GOOGL) violated Sonos (SONO) patents in certain audio players [more]
  • The FDA shortened Moderna's (MRNA) COVID-19 booster interval to five months [more]
  • T-Mobile (TMUS) sees Q4 postpaid account net additions of 315,000 [more]
  • The New York Times (NYT) agreed to acquire The Athletic for $550M in cash [more]
  • GameStop (GME) is launching an NFT and cryptocurrency marketplace unit, WSJ reports [more]

2. WALL STREET CALLS:

  • Kohl's (KSS) downgraded to Sell from Neutral at UBS [more]
  • Starbucks (SBUX) downgraded to Perform ratings at Oppenheimer and RBC [more]
  • Mizuho downgrades Visa (V) on shortened cash-to-card conversion runway [more]
  • Wells upgrades AT&T (T) to neutral with downside risks seen being "more limited" [more]
  • Citi opens "Positive Catalyst Watch" on shares of Nvidia (NVDA) [more]

3. AROUND THE WEB:

  • Tokyo-based games industry analyst Serkan Toto told Bloomberg that he is "very skeptical" of GameStop's new crypto plans [more]
  • Royal Caribbean (RCL) and Norwegian Cruise (NCLH) are canceling trips due to omicron, Reuters reports [more]
  • Reddit working with Morgan Stanley (MS) and Goldman Sachs (GS) on IPO that may come as soon as March, Bloomberg says [more]
  • Walmart (WMT) is drawing attention from China for alleged cybersecurity violations, WSJ reports [more]
  • Citi (C) will fire COVID-19 vaccine holdouts at the end of the month, Bloomberg reports [more]

4. MOVERS:

  • Absci (ABSI) surges after announcing a research collaboration with Merck (MRK) [more]
  • Discovery (DISCA) rises after BofA analyst Jessica Relf Ehrlich upgraded the stock to Buy from Neutral [more]
  • Acuity Brands (AYI) higher after reporting quarterly results [more]
  • Texas Instruments (TXN) slips after Citi analyst Christopher Danely downgraded the stock to Neutral from Buy [more]
  • Aehr Test Systems (AEHR) lower after reporting quarterly results [more]

5. EARNINGS/GUIDANCE:

  • Quidel (QDEL) reported upbeat preliminary Q4 revenue [more]
  • STMicroelectronics (STM) also reported upbeat preliminary Q4 revenue [more]
  • Boot Barn (BOOT) reported upbeat preliminary Q3 earnings [more]
  • Revance (RVNC) reported preliminary Q4 revenue [more]
  • Kura Sushi (KRUS) reported downbeat Q1 revenue [more]

INDEXES:

The Dow fell 4.81, or 0.013%, to 36,231.66, the Nasdaq lost 144.96, or 0.96%, to 14,935.90, and the S&P 500 declined 19.02, or 0.41%, to 4,677.03.

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