Midday Fly By: SK Hynix targets U.S. listing, Lockheed to acquire Ultra Maritime

The major averages were higher to start the week as chip stocks rebound after recent weakness. Markets are returning from the holiday weekend with a constructive tone, as investors look to extend last week's rally. Last week's weaker-than-expected labor report reduced some fears of additional near-term Federal Reserve tightening, which has helped improve risk appetite. Investors are now turning attention to Wednesday's Fed meeting minutes for clues on how policymakers view inflation and economic growth going into the second half of the year. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: SK Hynix (SKHY) will offer 17.79M common shares in its U.S. IPO Lockheed Martin (LMT) agreed to acquire Ultra Maritime Solutions for $3.45B Broadcom (AVGO) will develop and supply a range of custom ASIC silicon products for Apple (AAPL) Solstice Advanced Materials (SOLS) will acquire Element Solutions (ESI) in a cash and stock deal valued at $14.5B Comcast's (CMCSA) Sky agreed to acquire ITV Media in a deal valued at up to GBP 1.6B 2. WALL STREET CALLS: BofA upgraded T-Mobile (TMUS) to Buy Scotiabank upgraded five cybersecurity names,.