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AMZN, TKAYY, MSFT...
7/6/2022 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: 

  • Amazon (AMZN) will take a stake in Just Eat Takeaway's (TKAYY) Grubhub as part of a commercial agreement in the U.S. [more]
  • The U.K. has opened a competition investigation into Microsoft's (MSFT) proposed acquisition of Activision Blizzard (ATVI) [more]
  • The FDA has suspended its ban on Juul (MO) products while the vaping company appeals [more]
  • Resolute Forest (RFP) agreed to be acquired by Paper Excellence Group for $2.7B [more]
  • Kornit (KRNT) provided downbeat Q2 revenue guidance [more]


2. WALL STREET CALLS: 

  • Wells Fargo upgrades Rocket Companies (RKT) to Overweight, raises price target to $10 [more]
  • RingCentral (RNG) downgraded to Hold from Buy at Needham [more]
  • Atlantic downgrades Coinbase (COIN) to Neutral, lowers price target "materially" [more]
  • Enanta (ENTA) upgraded to Outperform at Evercore ISI ahead of COVID anti-viral data [more]
  • BMO Capital downgrades Universal Health (UHS) and HCA Healthcare (HCA) to Underperform [more]


3. AROUND THE WEB: 

  • Marriott (MAR) suffered another data breach, CyberScoop reports [more]
  • Vivendi (VIVHY) subsidiary Canal+ is seeking a stake in Lionsgate (LGF.A), Les Echos reports [more]
  • Cushman & Wakefield (CWK) was held in contempt of court in Trump case, CNBC says [more]
  • United Airlines (UAL) is blaming the FAA for worsening industry's issues, Bloomberg reports [more]
  • Shopify (SHOP) has quietly delayed its compensation overhaul, Globe and Mail reports [more]


4. MOVERS: 

  • Veru (VERU) higher after announcing the results from a Phase 3 COVID-19 study evaluating sabizabulin [more]
  • Rivian Automotive (RIVN) gains after reporting Q2 production of 4,401 vehicles [more]
  • Tilray Brands (TLRY) increases after its cannabis brand Good Supply expanded its product offering in Quebec [more]
  • ContextLogic (WISH) declines after the U.S. EPA ordered the company to stop selling several unregistered disinfectants through its e-commerce marketplace [more]
  • Hut 8 Mining (HUT) falls in New York after reporting it mined 328 Bitcoin in June [more]


5. EARNINGS/GUIDANCE: 

  • Rada Electronic (RADA) provided downbeat Q2 revenue guidance and withdrew FY22 guidance in light of the pending merger with Leonardo DRS [more]
  • T2 Biosystems (TTOO) provided lower-than-expected revenue guidance for Q2 [more]
  • Art's Way (ARTW) reported a year-over-year increase in Q2 earnings and revenue [more]
  • Safe-T (SFET) reported upbeat preliminary Q2 revenue [more]
  • Nephros (NEPH) reported a 27% year-over-year increase in preliminary Q2 revenue [more]


INDEXES: 

Near midday, the Dow was down 117.41, or 0.38%, to 30,850.41, the Nasdaq was down 45.16, or 0.40%, to 11,277.08, and the S&P 500 was down 14.06, or 0.37%, to 3,817.33.

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