It's learned Tony Revolori has been cast in Spider-Man: Homecoming.
Deadline reports Tony Revolori, known for recently playing Ralph Fiennes’ sidekick in the Wes Anderson-directed Grand Budapest Hotel, will play Peter Parker’s nemesis/enemy at high school, but is not playing a super villain (sounds a lot like a Flash Thompson character). The role is unknown.
Update: A separate report describes Revolori's character as a friend to Peter Parker named Manuel.
Update #2: The character is named Flash.
The report also seems to suggest it's too early to state that Michael Keaton has been cast as the villain of Spider-Man: Homecoming.
Spider-Man: Homecoming has a July 7, 2017 release directed by Jon Watts starring Tom Holland, Marisa Tomei as Aunt May and Zendaya as another school chum of Parker's named Michelle.
Tom Holland first appears as Spider-Man in next month's Captain America: Civil War.