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META, AAPL, WBA...
11/7/2022 12:11pm
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: 

  • Apple (AAPL) expects lower iPhone shipments due to COVID restrictions in China [more]
  • Meta (META) is preparing to notify employees of large-scale layoffs this week, according to The Wall Street Journal [more]
  • Walgreens Boots Alliance (WBA) will invest $3.5B to support VillageMD's acquisition of Summit Health-CityMD [more]
  • Ritchie Bros. (RBA) agreed to acquire IAA (IAA) in a cash and stock deal valued at $7.3B [more]
  • Ouster (OUST) and Velodyne (VLDR) announced an agreement to merge in an all-stock transaction [more]


2. WALL STREET CALLS: 

  • Itau upgrades Meta Platforms (META), says "right price has finally come" [more]
  • Costco (COST) downgraded to Equal Weight from Overweight at Wells Fargo [more]
  • Dominion (D) downgraded to Neutral or equivalent ratings at UBS, Credit Suisse and JPMorgan after launch of "top to bottom" business review [more]
  • Oppenheimer upgrades DoorDash (DASH) to Outperform on improving margins [more]
  • Guggenheim upgrades Okta (OKTA) on "too compelling to ignore" valuation [more]


3. AROUND THE WEB: 

  • Tyson Foods (TSN) CFO arrested after falling asleep in wrong home, Fox24 reports [more]
  • The odds of an NCR (NCR) sale "look to be growing" after a recent board addition, Dealreporter says [more]
  • Amazon (AMZN) has "hundreds" of Rivian (RIVN) vans making deliveries, Verge reports [more]
  • NYC has proposed a stricter Airbnb (ABNB) registration system, NY Post reports [more]
  • Home Depot's (HD) Philadelphia workers rejected the first store-wide labor union, AP reports [more]


4. MOVERS: 

  • Veru (VERU) rises after the FDA posted briefing documents for the meeting of advisors to review the company's request for an EUA for VERU-111 [more]
  • Viatris (VTRS) higher after reporting quarterly results and announcing it will acquire Oyster Point (OYST) for $11 per share plus a CVR worth up to $2 per share [more]
  • Amarin (AMRN) gains after announcing data presented at the AHA 2022 on VASCEPA/VAZKEPA [more]
  • Huadi International (HUDI) falls in New York after announcing the pricing of a $25M offering [more]
  • Verv Therapeutics (VERV) declines after the FDA placed a hold on its IND application of the VERV-101 trial [more]


5. EARNINGS/GUIDANCE: 

  • Palantir (PLTR) reported mixed Q3 results but provided upbeat FY22 revenue guidance [more]
  • BioNTech (BNTX) reported downbeat Q3 results but raised its FY22 COVID vaccine revenue guidance [more]
  • Shift4 Payments (FOUR) reported mixed Q3 results [more]
  • RedHill Biopharma (RDHL) reported downbeat Q2 results [more]
  • BTRS Holdings (BTRS) reported upbeat Q3 revenue [more]


INDEXES: 

Near midday, the Dow was up 141.22, or 0.44%, to 32,544.44, the Nasdaq was down 36.64, or 0.35%, to 10,438.62, and the S&P 500 was flat at 3,770.40.

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