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TSLA, HL, AXU...
7/5/2022 12:07pm
What You Missed On Wall Street This Morning

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.


1. STOCK NEWS: 

  • Tesla (TSLA) reported Q2 deliveries over the weekend, with the company saying that June is its highest production month [more]
  • Hecla Mining (HL) agreed to acquire Alexco Resource (AXU) for 47c per share [more]
  • Ford (F) reported June U.S. sales rose 31.5% [more]
  • New Fortress Energy (NFE) and Apollo (APO) are forming a new joint venture in a $2B transaction [more]
  • WTI crude futures dropped below $100 for first time since May 11 [more]


2. WALL STREET CALLS: 

  • HP Inc. (HPQ) downgraded to In Line at Evercore on fears of "more severe" PC headwinds [more]
  • Antero Resources (AR) upgraded to Buy from Hold at Truist [more]
  • Monster Beverage (MNST) initiated with a Neutral at Roth Capital [more]
  • Needham starts "uniquely positioned" Symbotic with Buy rating while Raymond James initiates Symbotic at Outperform [more]
  • Macquarie upgraded Live Nation (LYV) to Outperform from Neutral [more]


3. AROUND THE WEB: 

  • Tesla (TSLA) plans to halt China and Berlin factory production this month, Bloomberg reports [more]
  • Toronto-Dominion (TD) is looking into a takeover of Cowen (COWN), Bloomberg reported Friday [more]
  • ArcelorMittal (MT) has resumed steel supplies to Russia, TASS reports [more]
  • Twitter (TWTR) has launched a legal challenge to the Indian government blocking orders, FT reports [more]
  • A group backed by KKR (KKR) is leading the bidding to acquire a stake in Deutsche Telekom's (DTEGY) wireless tower portfolio, Bloomberg reports [more]


4. MOVERS: 

  • Novavax (NVAX) higher after the European Commission has approved the expanded conditional marketing authorization of Nuvaxovid COVID-19 vaccine in the EU for adolescents aged 12-17 [more]
  • DraftKings (DKNG) gains after Bragg Gaming (BRAG) announced Spin Games has gone live in Connecticut [more]
  • Lululemon (LULU) rises after announcing opening of two new stores, e-commerce site in Spain [more]
  • Aegon (AEG) declines in New York after Exane BNP Paribas downgraded the stock to Underperform from Neutral with a EUR 4.70 price target [more]
  • Stellantis (STLA) falls in New York after Reuters reported a semiconductor supply shortage could cost the company up to 220,000 vehicles this year in terms of lost output in Italy [more]


5. EARNINGS/GUIDANCE: 

  • Newtek Business Services (NEWT) reaffirmed its H1 adjusted NII guidance [more]
  • Usio (USIO) reiterated its FY22 revenue growth guidance [more]
  • Greenwave Technology (GWAV) reported a year-over-year increase in Q2 revenue [more]
  • Bridgeline Digital (BLIN) reported 23 license sales totaling $690,000 in Q3 [more]
  • Companies reporting earnings later this week include Levi Strauss (LEVI) and WD-40 (WDFC) [more]


INDEXES: 

Near midday, the Dow was down 574.78, or 1.85%, to 30,522.48, the Nasdaq was down 45.79, or 0.41%, to 11,082.05, and the S&P 500 was down 59.73, or 1.56%, to 3,765.60.

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