>>> US Gapping up

Gapping up
In reaction to earnings/guidance:
  • HRB +8.3% (also files mixed shelf securities offering; also increases dividend by 17%; new $1.5 bln share repurchase authorization), GLOB +5.6%, ALVO +4.8%, SGML +4.6%, MSGE +4.1%, COHR +3.8%, DESP +0.7%
Other news:
  • PL +8.3% (first hyperspectral satellite will launch on Aug 16)
  • TPC +6% (wins $1.66 bln award for City Center Guideway and Stations Project in Honolulu)
  • QTRX +5.7% (President & CEO bought 19,000 shares at $10.88 - $10.90 worth about $207K)
  • PGRU +5.6% (to be acquired by EQT Private Capital Asia for $1.1 bln)
  • TMCI +4.8% (CEO bought 85,000 shares at $5.95 - $6.07 worth approx. $510K)
  • PLSE +4.2% (to delay 10-Q filing)
  • LQDA +2.7% (Announces Poster Presentations at the PHA 2024 International PH Conference and Scientific Sessions)
  • VCEL +2.5% (FDA approves NexoBrid for severe thermal burns)
  • CACI +2.4% (awarded $239 mln US Army task order)
  • BWMN +2.2% (authorizes increase in its share repurchase program)
  • PTLO +2% (Engaged Capital affirmed yesterday active stake in Portillo's)
  • WBTN +1.9% (following insider buy disclosures)
  • ATR +1.7% (FDA approves Unidose delivery system with neffy for the emergency treatment of patients with allergic reactions)
  • MUSA +1.6% (increases dividend)
  • MDWD +1.5% (FDA approves NexoBrid for severe thermal burns)
  • TXN +1.5% (signs preliminary agreement to receive up to $1.6 bln in CHIPS and Science Act for funding for semiconductor manufacturing in Utah and Texas) MDU +1.2% (increases dividend)
  • FLEX +1.1% (files mixed shelf securities offering)
  • LOT +1.1% (reports it provides intelligent driving solutions for Lynk&Co's first all-electric sedan)
  • UCB +1.1% (raises dividend)

>>> US Research Calls I

Research Calls I
  • Upgrades:
    • AFC Gamma (AFCG) upgraded to Neutral from Sell at Compass Point; tgt lowered to $9
    • CF Industries (CF) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $90
    • Cisco (CSCO) upgraded to Buy from Hold at HSBC Securities; tgt raised to $58
    • Fox Corporation (FOXA) upgraded to Overweight from Underweight at Wells Fargo; tgt raised to $46
    • Illumina (ILMN) upgraded to Buy from Neutral at Daiwa Securities; tgt raised to $154
    • Kimco Realty (KIM) upgraded to Strong Buy from Mkt Perform at Raymond James; tgt $25
    • Kite Realty (KRG) upgraded to Strong Buy from Mkt Perform at Raymond James; tgt $28
    • Microchip (MCHP) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $100
    • Newmark Group (NMRK) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $15
    • NIKE (NKE) upgraded to Buy from Sell at Williams Trading
    • Origin Materials (ORGN) upgraded to Buy from Neutral at BofA Securities; tgt raised to $3
    • Sphere Entertainment Co. (SPHR) upgraded to Overweight from Neutral at JP Morgan; tgt raised to $57
    • Teradyne (TER) upgraded to Overweight from Neutral at Cantor Fitzgerald; tgt $16
  • Downgrades:
    • Bumble Inc. (BMBL) downgraded to Hold from Buy at TD Cowen; tgt lowered to $7.50
    • CAE (CAE) downgraded to Equal-Weight from Overweight at Morgan Stanley
    • Coherus BioSciences (CHRS) downgraded to Neutral from Buy at UBS; tgt lowered to $1.50
    • Estee Lauder (EL) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $100
    • Lumen Technologies (LUMN) downgraded to Underweight from Equal Weight at Wells Fargo; tgt raised to $4
    • Silicon Motion (SIMO) downgraded to Underperform from Buy at BofA Securities; tgt lowered to $60
    • Viracta Therapeutics (VIRX) downgraded to Market Perform from Outperform at Leerink Partners; tgt lowered to $3
    • Vital Energy (VTLE) downgraded to Sector Weight from Overweight at KeyBanc Capital Markets
    • Xos (XOS) downgraded to Neutral from Buy at DA Davidson; tgt lowered to $9
  • Others:
    • Couchbase (BASE) initiated with an Overweight at Piper Sandler; tgt $22
    • Liquidia Technologies (LQDA) initiated with an Outperform at Raymond James; tgt $27
    • Palo Alto Networks (PANW) addded to Evercore ISI's Tactical Underperform List
    • Two Harbors Investment (TWO) initiated with a Buy at Janney; tgt $15
    • Y-mAbs Therapeutics (YMAB) initiated with an Overweight at Cantor Fitzgerald; tgt $20

>>> US Early premarket gappers

Early premarket gappers
  • Gapping up:
    • PL +14.3%, TPC +6.9%, ALVO +6.2%, HRB +6.1%, SGML +5.8%, PGRU +5.6%, GLOB +5.6%, PLSE +4.2%, COHR +3.1%, MDWD +3%, LQDA +2.7%, VCEL +2.5%, CACI +2.2%, INCY +2.1%, PTLO +2%, BTDR +1.9%, ATR +1.7%, TXN +1.7%, MUSA +1.6%, DESP +1.4%, MDU +1.2%, FLEX +1.1%, LOT +1.1%, KR +1.1%, UCB +1.1%
  • Gapping down:
    • SNDA -15.9%, AMCR -7.5%, EVEX -4.7%, AMAT -3.2%, RNW -2.9%, ADSK -1.7%, GTES -0.9%

>>> Europe : Brokers Upgrades & Downgrades - 16th of August 2024 V2(+)

>>> Up
* Administer Raised to Accumulate at Inderes; PT 3.20 euros
* Big Yellow Group Raised to Buy at Citi; PT 1,525 pence
* Campari Raised to Buy at HSBC; PT 10 euros
* Cisco Raised to Buy at HSBC; PT $58
* Entain Raised to Neutral at Goldman; PT 710 pence
* Marimekko Raised to Accumulate at Inderes; PT 13 euros
* Millicom Raised to Buy at UBS; PT $33
* Roche PT Raised from CHF 248 to CHF 274 at Vontobel
* SpareBank 1 Helgeland Raised to Buy at Arctic Securities (+)
* Tamtron Group Raised to Accumulate at Inderes; PT 6 euros
* Walmart PT Raised to $82 from $75 at Morgan Stanley

>>> Down
* Alm Brand Cut to Hold at Nordea (+)
* Autostore PT Cut to 10 kroner from 11 kroner at Morgan Stanley
* Bioretec Cut to Reduce at Inderes; PT 3 euros
* Cancom Cut to Underperform at BNPP Exane; PT 26 euros
* Crest Nicholson Cut to Equal-Weight at Barclays; PT 220 pence
* Fortum Cut to Reduce at Inderes; PT 14.50 euros
* Kojamo Cut to Neutral at JPMorgan; PT 10.50 euros
* Nel Cut to Hold at Berenberg; PT 7 kroner
* Relais Group Cut to Accumulate at Inderes; PT 16.50 euros
* Scout24 SE Cut to Hold at M.M. Warburg; PT 75 euros (+)
* Siegfried Cut to Hold at Research Partners; PT 990 Swiss francs
* Thyssenkrupp Nucera Cut to Hold at Berenberg; PT 12 euros

>>> Initiation


>>> Call
* Building-Materials Sector Metamorphosis Sets Scene for Robust 2H
* Big Yellow Group Upgraded at Citi, PT Boosted to Street-High
* Credit Agricole's Shares to Remain Under Pressure, Berenberg Says -- Market Talk (+)
* Deutsche Bank CIO Urges Tail-Risk Hedging Despite Market Calm
* Inditex Worth Premium, H&M Waiting for Signs of Inflection: Citi
* Nel, Thyssenkrupp Nucera Cut at Berenberg on Regulatory Delays
* European Airlines Need Demand Floor as Fares Hit, EPS at Risk

>>> TradeGate Pre-Market Indications

DAX:
  • Bayer (BAYN TH) +3%
    • Bayer Wins Roundup Appeal That Could Help Corral Cancer Suits
  • Infineon (IFX TH) +1%
  • VW (VOW3 TH) +0.9%
    • Chinese EVs Lose Ground in EU After New Tariffs Take Effect
  • Porsche SE (PAH3 TH) +0.8%
    • Chinese EVs Lose Ground in EU After New Tariffs Take Effect
MDAX:
  • Jungheinrich (JUN3 TH) +1%
SDAX:
  • Adtran Holdings (QH9 TH) +3.2%
  • Metro AG (B4B TH) +1.1%
  • Schaeffler (SHA TH) +1%
  • Thyssenkrupp Nucera AG & Co KGaa (NCH2 TH) -2.1%
    • Nel, Thyssenkrupp Nucera Cut at Berenberg on Regulatory Delays
  • Cancom (COK TH) -2.2%
    • Cancom Cut to Underperform at BNPP Exane; PT 26 euros

>>> Europe : Brokers Upgrades & Downgrades - 16th of August 2024

>>> Up
* Administer Raised to Accumulate at Inderes; PT 3.20 euros
* Big Yellow Group Raised to Buy at Citi; PT 1,525 pence
* Campari Raised to Buy at HSBC; PT 10 euros
* Cisco Raised to Buy at HSBC; PT $58
* Entain Raised to Neutral at Goldman; PT 710 pence
* Marimekko Raised to Accumulate at Inderes; PT 13 euros
* Millicom Raised to Buy at UBS; PT $33
* Roche PT Raised from CHF 248 to CHF 274 at Vontobel
* Tamtron Group Raised to Accumulate at Inderes; PT 6 euros
* Walmart PT Raised to $82 from $75 at Morgan Stanley

>>> Down
* Autostore PT Cut to 10 kroner from 11 kroner at Morgan Stanley
* Bioretec Cut to Reduce at Inderes; PT 3 euros
* Cancom Cut to Underperform at BNPP Exane; PT 26 euros
* Crest Nicholson Cut to Equal-Weight at Barclays; PT 220 pence
* Fortum Cut to Reduce at Inderes; PT 14.50 euros
* Kojamo Cut to Neutral at JPMorgan; PT 10.50 euros
* Nel Cut to Hold at Berenberg; PT 7 kroner
* Relais Group Cut to Accumulate at Inderes; PT 16.50 euros
* Siegfried Cut to Hold at Research Partners; PT 990 Swiss francs
* Thyssenkrupp Nucera Cut to Hold at Berenberg; PT 12 euros

>>> Initiation


>>> Call
* Building-Materials Sector Metamorphosis Sets Scene for Robust 2H
* Big Yellow Group Upgraded at Citi, PT Boosted to Street-High
* Deutsche Bank CIO Urges Tail-Risk Hedging Despite Market Calm
* Inditex Worth Premium, H&M Waiting for Signs of Inflection: Citi
* Nel, Thyssenkrupp Nucera Cut at Berenberg on Regulatory Delays
* European Airlines Need Demand Floor as Fares Hit, EPS at Risk