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:

• Microsoft (MSFT) agreed to acquire Activision Blizzard (ATVI) for $95 per share in cash [more]
• GSK (GSK) said it rejected three Unilever (UL) bids that "undervalued" its Consumer Healthcare unit [more]
• Goldman Sachs (GS) reported lower than expected Q4 headline earnings, but better than expected Q4 revenue [more]
• Verizon (VZ) and AT&T (T) both decided to defer turning on a number of 5G towers near airports [more]
• Ford (F) and ADT (ADT) announced forming a joint venture focused on vehicle security [more]

2. WALL STREET CALLS:

• Snowflake (SNOW) upgraded to Outperform from Market Perform at William Blair [more]
• Gap (GPS) downgraded to Underweight from Equal Weight at Morgan Stanley [more]
• Delta Air Lines (DAL) upgraded to Buy from Hold at Argus [more]
• Gordon Haskett downgrades Airbnb (ABNB) to Hold on growth headwinds [more]
• Goldman Sachs starts SoFi Technologies (SOFI) at Neutral, Mizuho cuts SoFi price target to $17 [more]

3. AROUND THE WEB:

• Intel (INTC) will announce a bitcoin mining chip in February, CoinDesk reports [more]
• Peloton (PTON) has hired McKinsey to review its cost structure, CNBC reports [more]
• Alibaba's (BABA) cloud unit is being probed by the U.S. over national security risks, Reuters reports [more]
• Citrix (CTXS) is in advanced talks for a go-private buyout deal, Bloomberg reports [more]
• Activision Blizzard CEO Bobby Kotick will depart once the Microsoft takeover closes, WSJ says [more]

4. MOVERS:

• Houghton Mifflin Harcourt (HMHC) higher after Bloomberg reported the company is considering a potential sale [more]
• Kohl’s (KSS) gains after Reuters said Acacia Research (ACTG) contacted the company to express buyout interest [more]
• Bluebird Bio (BLUE) slips after the FDA extended its review for biologics licensing applications [more]
• BioNTech (BNTX) declines after Bloomberg reported preliminary data from a trial showed a fourth dose of Pfizer (PFE) and the company’s vaccine was insufficient to prevent infection with the omicron variant of COVID-19 [more]
• Silvergate (SI) lower after reporting quarterly results [more]

5. EARNINGS/GUIDANCE:

• PNC Financial (PNC) reported upbeat Q4 earnings [more]
• Charles Schwab (SCHW) reported downbeat Q4 results [more]
• Hain Celestial (HAIN) sees Q2 net sales down 1%-3% year-over-year [more]
• Zynex (ZYXI) reiterated its Q4 revenue guidance [more]
• Sportsman's Warehouse (SPWH) provided earnings guidance for Q4 and 2021 [more]

INDEXES:

The Dow fell 543.34, or 1.51%, to 35,368.47, the Nasdaq lost 386.86, or 2.6%, to 14,506.90, and the S&P 500 declined 85.74, or 1.84%, to 4,577.11.