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Wall Street sheds opening gains on losses in high-growth stocks
By Shreyashi Sanyal and Amruta Khandekar (Reuters) - Wall Street's main indexes fell after opening higher on Monday, as a rally last week on easing concerns over inflation lost steam, with high-growth stocks leading declines.... More
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- Needham & Company Sees 44% Upside in Shares of Chewy (CHWY)
- McDonald's (MCD) Appoints Ian Borden as CFO, Announces Additional Management Changes
- U.S. pending home sales unexpectedly rebound in May
- Ethereum Move Proof-of-Stake to Hurt GPU Demand But Nvidia (NVDA) Less Exposed - Morgan Stanley
- Goldman Reinstates Oracle at Sell, Upgrades Gitlab and Atlassian to Buy as it Rebalances Software Ratings
- Etsy (ETSY) Downgraded at Needham & Company on Macro Outlook
- JP Morgan's Kolanovic Predicts No Recession and Next Week's Rebalancing Could Drive Stocks Up 7%
- U.S. Supreme Court overturns Roe v. Wade, ends constitutional right to abortion
- FedEx (FDX) Gains on Solid FY23 Outlook, Analysts Mostly Bulled Up Into Next Week's Investors Day
- Get Ready for a 10% Rally in S&P 500
- Zendesk (ZEN) Agrees to Be Bought by P/E Group, But Deal Falls Flat
- U.S. dollar retreats as markets re-assess Fed rate path
- Bill Ackman Says Bond Market is Misreading the Fed, Inflation is Out of Control and Fed May Ramp Up Hawkish Commentary
- Democratic Lawmakers Want the FTC to Investigate Apple (AAPL) and Google (GOOGL) - Report
- Merck (MRK), Seagen (SGEN) Takeover Talks Heat Up - WSJ
- Twitter (TWTR) Gives More Data Following Elon Musk's Latest Demand, Report Says
- U.S. new home sales rebound in May; consumer sentiment at record low
- Tesla's (TSLA) PT Cut at Credit Suisse on Short-Term Issues, but 'Long-Term Bull Thesis Intact'
- The 2022 Capitulation Has Been in Bonds, Not Stocks - BofA
- U.S. Fed 2022 Stress Test Results Suggest Banks Still Can Weather Severe Recession Comfortably
- Wells Fargo Upgrades 'Excellent' Defensive Name Becton, Dickinson and Company (BDX)
- Mercury Systems (MRCY) Appoints Two to Board in Deal With Activist Investors as Potential Sale Remains In Flux
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Just Another Bear Market Rally, Morgan Stanley's Wilson Says
Morgan Stanley equity strategist Michael Wilson, who has correctly predicted this year's 20% downdraft in stocks, is now asking if falling yields and lower oil prices are bullish or bearish. Wilson notes while last week... More
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Oil prices edge higher amid G7 talks on new Russian sanctions
By Arathy Somasekhar HOUSTON (Reuters) - Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of... More
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Coinbase Downgraded to Sell at Goldman on Further Downside Risk, Robinhood Upgraded to Neutral on Better Risk-Reward
Goldman Sachs analyst Will Nance made two significant changes in its coverage of crypto brokers Monday - downgrading Coinbase (NASDAQ: COIN) to Sell from Neutral while upgrading Robinhood... More
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Michael Burry Warns of the Bullwhip Effect, Says the Fed Could Reverse Course
Michael Burry, the investor, made famous by the movie "The Big Short," and the founder of Scion Asset Management, said in a tweet Monday that the "Bullwhip Effect" is happening in the retail sector.... More
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Dollar stumbles as markets reassess rate bets, eye ECB
By Saikat Chatterjee and Hannah Lang LONDON and WASHINGTON (Reuters) - The U.S. dollar struggled versus its major rivals on Monday as softening inflation expectations prompted a reassessment of the prospects for... More
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Pre-Open Stock Movers 06/27: Chewy Gains on Upgrade; Spirit Airlines Falls on Deal Update
Epizyme (Nasdaq: EPZM) 65% HIGHER; Ipsen and Epizyme entered into a definitive merger agreement under which Ipsen will acquire Epizyme. The transaction was... More
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Trump's SPAC Receives Subpoenas from Federal Grand Jury
Shares of Digital World Acquisition Corp (NASDAQ: DWAC), the blank-check company that plans to merge with former President Donald Trump's social media firm, Truth Social, declined 9% Monday morning.... More
Monday, June 27, 2022 11:35 AM EDT
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Latest StreetInsider Headlines
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- 11:32 AM Alcantara Becomes German Car of the Year Program Sponsor for 2022
- 11:31 AM SentryWorld takes center stage as host of 2023 U.S. Senior Open
- 11:31 AM Jury Makes Largest Known Canadian Punitive Damages Award On Record Against Long Term Disability Insurer
- 11:30 AM Luminar Technologies (LAZR) Joins Russell 2000 Index
- 11:30 AM SFI Named 2022 Wood Innovations Grant Recipient
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13Fs
- Dan Loeb's Third Point Exits Disney (DIS) Position
- Here's Which 3 Tech Stocks Hedge Funds Were Selling the Most in Q1
- Buffett's Berkshire Hathaway Enters 8 New Stocks, Including Citi and Paramount Global; Adds to Apple and Chevron
Accesswire
- Carter Bank & Trust Introduces a Limited-Time Take Your Pick Promotion
- Cinedigm Launches the Highly Anticipated The Elvis Presley Channel
- MicroVision Added to Russell Microcap(R) Index
Analyst Comments
- Guggenheim Reiterates Buy on Liberty Media Corp-Liberty Formula One (FWONA) as F1 Renews U.S. Media Rights with ESPN
- Michael Burry Warns of the Bullwhip Effect, Says the Fed Could Reverse Course
- American Hotel Income Properties REIT (HOT-U:CN) (AHOTF) PT Lowered to Cdn$3.50 at TD Securities
Analyst PT Change
- Entergy Corp (ETR) PT Raised to $130 at BofA Securities
- American Hotel Income Properties REIT (HOT-U:CN) (AHOTF) PT Lowered to Cdn$3.50 at TD Securities
- StorageVault Canada (SVI:CN) (SVAUF) PT Lowered to Cdn$7.50 at TD Securities
Board Changes
- Casey's General Stores (CASY) Announces Information Technology Leader Sri Donthi Joins its Board of Directors
- Mesa Laboratories (MLAB) Appoints Tony Tripeny to its Board
- Digital World board members get subpoena over Trump's social media deal
Business Wire
- Forsee Power to Establish North American Headquarters and Battery Systems Gigafactory in the Columbus Region
- Luminar Joins Russell 2000® Index
- Facet Wealth is Accelerating Massive Growth Momentum with Four New Hires
Commodities
- OPEC+ trims 2022 market surplus projection to 1 mln bpd -report - Reuters
- EIA statement on upcoming data releases
- Russia exporting lighter and sweeter Urals oil as taps Asia demand - Reuters
Corporate News
- Luminar Technologies (LAZR) Joins Russell 2000 Index
- Accenture (ACN) to Acquire XtremeEDA
- Keysight Technologies (KEYS) announces Scania has chosen its Scienlab Battery Test Solutions
Cryptocurrency
- Bitcoin Trades at HIgh, Up 4.9% at $20,800
- Bitcoin Hits Low, Down Over 4%
- Powell Says No Significant Macro Effects So Far From Crypto Decline
Dividends
- Horizon Bancorp (HBNC) Raises Quarterly Dividend 6.7% to $0.16; 3.7% Yield
- Shoe Carnival (SCVL) Declares $0.09 Quarterly Dividend; 1.4% Yield
- DTE Energy (DTE) Declares $0.885 Quarterly Dividend; 2.9% Yield
Downgrades
- Goldman Reinstates Oracle at Sell, Upgrades Gitlab and Atlassian to Buy as it Rebalances Software Ratings
- Etsy (ETSY) Downgraded at Needham & Company on Macro Outlook
- Canaccord Genuity Downgrades Resolute Mining Ltd. (RSG:AU) (RMGGF) to Spec. Buy
Earnings
- Staffing 360 Solutions (STAF) Reports FY21 Revenue of $197.8M, Net Income of $8.2M
- CarMax (KMX) Stock Rallies Despite Decline in Units Sold
- Carnival Corp. (CCL) Misses Q2 EPS by 52c, Revenue Misses
Economic Data
- Dallas Fed Man. Activity (Jun) -17.7 vs -6.5 Expected
- U.S. pending home sales unexpectedly rebound in May
- Pending Homes Sales (May) 0.7% vs -4% Expected
Equity Offerings
- AgEagle Aerial Systems (UAVS) Prices $10M Preferred Stock Offering
- AeroClean Technologies (AERC) Announces 1.5M Share Private Placement at $10/sh
- Tuya Inc. (TUYA) Prices 7.3M Share Global Offering at $19.30/sh
FDA
- FDA Infant Formula Update: June 27, 2022
- Ensysce Biosciences (ENSC) Awarded $2.8M Grant for Multi-Pill Abuse Resistance Platform
- Adial Pharmaceuticals (ADIL) Announces Database Lock for the ONWARD Trial
Fed
- Michael Burry Warns of the Bullwhip Effect, Says the Fed Could Reverse Course
- Fed's Barkin, Daly exit some securities as rules revamped
- Fed must act 'forthrightly and aggressively' to rein in inflation, Bullard says
Globe Newswire
- OnTrak Software Announces Management Promotions, New Sales and Development Team Members
- Velocity Reports AGM Results
- Jury Makes Largest Known Canadian Punitive Damages Award On Record Against Long Term Disability Insurer
Guidance
- UiPath Inc. (PATH) to Cut 5% of Global Workforce, Updates Guidance
- Relay Therapeutics (RLAY) Discloses Anticipated Registrational Path for RLY-4008
- Quotient (QTNT) Reports Q4 Revenue of $9.8M, Loss of $26.87M, Provides Business Update
Hedge Funds
- Michael Burry Warns of the Bullwhip Effect, Says the Fed Could Reverse Course
- Mercury Systems (MRCY) Appoints Two to Board in Deal With Activist Investors as Potential Sale Remains In Flux
- Mercury Systems (MRCY) Names Howard Lance and Bill Ballhaus in Deal with Hedge Funds
Insiders' Blog
- 7 Things to Know About Allbirds' (BIRD) Upcoming $2 Billion IPO
- HireRight (HRT) IPO: 9 Things to Know About the Upcoming Offering
- Udemy (UDMY) IPO: 7 Things to Know About Upcoming $4 Billion IPO
IPOs
- Genelux Corporation (GNLX) Files IPO Registration Statement
- Noble Education Acquisition Corp (NEATU) Announces 10M Unit IPO at $10/unit
- SK Growth Opportunities Corporation (SKGRU) Prices 20M Unit IPO at $10/unit
Market Check
- S&P 500 Climbs 0.3%, Nasdaq Slightly Positive
- Nasdaq, S&P 500 Earses Gain, Down 0.3% and 0.1%
- Wall Street sheds opening gains on losses in high-growth stocks
Mcap MediaWire
- AmpliTech Group, Inc. Announces Closing of Underwriters’ Option to Purchase Additional Shares of Common Stock in Connection with its Underwritten Public Offering
- Top Minds Back Bitcoin for a Fresh Leg (NASDAQ: BTBT) (NASDAQ: MSTR) (OTC US: ISWH) (NASDAQ: OSTK)
- How to Play the Crypto Shakeout (NYSE: SQ) (NASDAQ: OSTK) (OTC US: ISWH) (NASDAQ: BTBT)
Mergers and Acquisitions
- India's Jetsynthesys Said in talks to Merge with Burtech Acquisition (BRKH) - Bloomberg
- Accenture (ACN) to Acquire XtremeEDA
- Dentsply Sirona (XRAY) on Watch Following Activist Chatter
New Coverage
- Goldman Reinstates Oracle at Sell, Upgrades Gitlab and Atlassian to Buy as it Rebalances Software Ratings
- Aegis Capital Starts Applied UV Inc (AUVI) at Buy
- UPDATE: Craig-Hallum Starts Liquidity Services (LQDT) at Buy, Adds to Alpha Select List
Newsfile
- Battery Mineral Resources Announces Intercept of 48 Meters of 1.31% Cu From the Cinabrio Norte Target at Its Punitaqui Copper Mine in Chile
- Cardiol Therapeutics to Webcast Virtual Annual General Meeting on June 28th at 4:30 P.M. EDT
- CanAlaska Commences Airborne Survey at Key Extension Project in Athabasca Basin
Press Releases
- OnTrak Software Announces Management Promotions, New Sales and Development Team Members
- Velocity Reports AGM Results
- Vitamin and Supplement Manufacturer Expanding to the Columbus Region, Investing $200 Million and Creating 225 New Jobs
Private Company News
- SpaceX Fires Some Employees Behind a Letter Criticizing Musk's Behavior - Report
- Crypto giant Binance opens 2,000 positions for hiring - CEO
- Elon Musk's SpaceX Raises $1.68 Billion via Equity Financing
PRNewswire
- Vitamin and Supplement Manufacturer Expanding to the Columbus Region, Investing $200 Million and Creating 225 New Jobs
- SentryWorld takes center stage as host of 2023 U.S. Senior Open
- Jason Derulo Slides into the Metaverse with TerraZero Technologies, Inc.
Reuters
- U.S. pending home sales unexpectedly rebound in May
- U.S. Supreme Court won't hear Apple's bid to revive Qualcomm patent challenges
- U.S. core capital goods orders, shipments increase strongly
SEC Filings
- Form N-CSRS BNY Mellon Investment For: Apr 30
- Form FWP MORGAN STANLEY Filed by: MORGAN STANLEY
- Form 6-K GENTOR RESOURCES INC. For: Jun 10
SPAC
- India's Jetsynthesys Said in talks to Merge with Burtech Acquisition (BRKH) - Bloomberg
- Trump's SPAC Receives Subpoenas from Federal Grand Jury
- Waldencast Acquisition Corp (WALD) Enters $225M Term Loan and Revolving Credit Facilities
Upgrades
- Goldman Reinstates Oracle at Sell, Upgrades Gitlab and Atlassian to Buy as it Rebalances Software Ratings
- OTR Global Upgrades Chipotle Mexican Grill (CMG) to Positive
- Needham & Company Sees 44% Upside in Shares of Chewy (CHWY)
