Image Source: Unsplash

Get caught up quickly on the top news and calls moving stocks with these "Top Fives."

1. Stock News

• CAI International (CAI) agreed to be acquired by Mitsubishi HC Capital for $56 per share.
• Orphazyme (ORPHA) received a complete response letter from the FDA following its review of the arimoclomol application.
• Athira Pharma (ATHA) CEO Leen Kawas was placed on temporary leave pending a review of actions stemming from research conducted while at Washington State University.
• Fox Corp. (FOXA) announced a $2 billion incremental stock repurchase plan.
• Sykes Enterprises (SYKE) agreed to be acquired by Sitel Group for $54 per share.

2. Wall Street Calls

• Biogen (BIIB) upgraded to Overweight from Neutral at Piper Sandler.
• CuriosityStream (CURI) double-downgraded to Underperform at BofA on valuation.
• Wolfe Research upgrades Delta (DAL), Alaska Air (ALK), and United Airlines (UAL) on "pent-up demand scenario."
• BofA ups Nvidia (NVDA) target to $900, sees data center sales tripling by 2025.
• New Oriental Education (EDU) downgraded to Hold from Buy at HSBC.

3. Around the Web

• eBay (EBAY) is set to sell its South Korea business to a local consortium for $3.1 billion, FT reports.
• A toy shortage is threatening the U.S. holiday sales season amid China shipping woes, NY Post says.
• Shell (RDS-A) is backing a roughly $56 million project to create Europe's largest battery, NY Times says.
• The New York Times (NYT) and sports site The Athletic have ended their merger talks, The Information reports.
• Johnson & Johnson's (JNJ) COVID-19 vaccine is not turning out to be the game changer officials had hoped, NY Times reports.

4. Movers

• Geron (GERN) rises after publishing data from the IMbark Phase 2 clinical trial.
• The GEO Group (GEO) gains after disclosing CEO George Zooley bought 166,600 shares of its common stock.
• DocuSign (DOCU) higher after Wedbush analyst Daniel Ives raised the firm’s price target on the stock to $290 and kept an Outperform rating on the shares.
• Ares Commercial (ACRE) lower after announcing a 6.5 million share offering priced at $15.82.
• Micron (MU) dips after Cleveland Research analyst Chandler Converse downgraded the stock to Neutral from Buy.

5. Earnings

• Adobe (ADBE) gains after reporting better-than-expected Q2 results.
• Smith & Wesson Brands (SWBI) rises after upbeat quarterly report.
• Codexis (CDXS) moves higher after raising its FY21 revenue guidance.
• U.S. Steel (X) falls after guiding Q2 earnings.
• Dynagas LNG (DLNG) moves lower after reporting better-than-expected Q1 results.

Indexes

Near midday, the Dow was down 388.06, or 1.15%, to 33,435.39, the Nasdaq was down 110.58, or 0.78%, to 14,050.78, and the S&P 500 was down 39.21, or 0.93%, to 4,182.65.