>>> Europe : Brokers Upgrades & Downgrades - 25th of July 2024 V3(++)

>>> Up
* Frontier Developments Raised to Buy at Goodbody; PT 300 pence (++)
* Kempower Raised to Accumulate at Inderes; PT 16 euros
* Metso Raised to Buy at Inderes; PT 11 euros
* Norsk Hydro Raised to Hold at SEB Equities; PT 65 kroner
* Sanoma Raised to Buy at SEB Equities; PT 7.90 euros
* Spectris Raised to Buy at Berenberg
* Wavestone Raised to Buy at TP ICAP Midcap; PT 68 euros (++)

>>> Down
* Aedas Homes SA Cut to Neutral at Alantra Equities; PT 26 euros (++)
* Ascential Cut to Equal-Weight at Barclays; PT 570 pence
* Ascential Cut to Hold at Berenberg; PT 568 pence (++)
* Equinor Cut to Hold at DZ Bank; PT 295 kroner
* Forsee Power Cut to Neutral at Oddo BHF; PT 80 euro cents (++)
* ID Logistics Group SACA Cut to Add at IDMidcaps; PT 441 euros (+)
* NextEra Energy Partners Cut to Peerperform at Wolfe
* OTP Bank Cut to Underweight at Morgan Stanley; PT 20,100 forint
* Repsol Cut to Sector Perform at RBC; PT 16 euros
* RS Group Cut to Hold at HSBC; PT 810 pence
* Seco/Warwick Cut to Hold at Erste Group; PT 30.90 zloty
* Sirius XM Cut to Sell at Citi; PT $2.80
* Solutions 30 Cut to Hold at Marex; PT 2.30 euros
* Tesla Cut to Neutral at KGI Securities; PT $236
* UMG Cut to Equal-Weight at Barclays; PT 26 euros
* UMG Cut to Neutral at Guggenheim; PT 27.50 euros
* UMG Cut to Neutral at Citi; PT 29.50 euros
* UMG Cut to Reduce at Kepler Cheuvreux; PT 27 euros (++)
* Valmet Cut to Hold at SEB Equities; PT 28 euros

>>> Initiation
* Flerie Rated New Buy at DNB Markets; PT 70 kronor (++)
* Hargreaves Rated New Corporate at Cavendish; PT 850 pence (+)

>>> Call
* Bucher Seen Lower After Guidance Cut and Weak Orders: Baader
* Elis Consensus May Rise After Solid Results, Morgan Stanley Says
* Goldman’s Rubner Says Stocks Flash Sell Signal to Systemic Funds
* Nestle Guidance Cut Raises Concerns on Profitability: Jefferies (+)
* Sanofi 2Q Is Solid Beat, Dupixent Outperforming, Intron Says (+)
* Stellantis Falls as Morgan Stanley Points to Weak Cash Flow (+)

>>> US Research Calls


  • Upgrades    :
    • Alarum Technologies Ltd. (ALAR) upgraded to Buy from Hold at Canaccord Genuity; tgt $42
    • Birkenstock Holding Plc (BIRK) upgraded to Buy from Neutral at BofA Securities; tgt raised to $65
    • Oatly Group AB (OTLY) upgraded to Outperform from Neutral at Exane BNP Paribas
    • Polaris Industries (PII) upgraded to Buy from Neutral at DA Davidson; tgt $87
    • Roper (ROP) upgraded to Outperform from Neutral at Robert W. Baird; tgt raised to $635
  • Downgrades:
    • Avery Dennison (AVY) downgraded to Neutral from Buy at UBS; tgt lowered to $235
    • Edwards Lifesciences (EW) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $70
    • Edwards Lifesciences (EW) downgraded to Hold from Buy at Truist; tgt lowered to $82
    • Edwards Lifesciences (EW) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $72
    • Kering SA (PPRUY) downgraded to Neutral from Buy at UBS
    • Lamb Weston (LW) downgraded to Hold from Buy at TD Cowen; tgt lowered to $61
    • Lamb Weston (LW) downgraded to Hold from Buy at Stifel; tgt lowered to $60
    • lululemon athletica (LULU) downgraded to Neutral from Buy at Citigroup; tgt lowered to $300
    • National Bank (NBHC) downgraded to Neutral from Overweight at Piper Sandler; tgt raised to $46
    • NextEra Energy Partners (NEP) downgraded to Peer Perform from Outperform at Wolfe Research
    • Omega Health (OHI) downgraded to Neutral from Outperform at Mizuho; tgt raised to $35
    • Rogers Comms (RCI) downgraded to Hold from Buy at Canaccord Genuity
    • SAGE Therapeutics (SAGE) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $12
    • Sirius XM (SIRI) downgraded to Sell from Neutral at Citigroup; tgt $2.80
    • Tesla (TSLA) downgraded to Neutral from Outperform at KGI Securities
    • Universal Music Group N.V. (UMGNF) downgraded to Equal Weight from Overweight at Barclays
    • Universal Music Group N.V. (UMGNF) downgraded to Hold from Buy at Kepler
    • Universal Music Group N.V. (UMGNF) downgraded to Equal Weight from Overweight at Wells Fargo
    • Universal Music Group N.V. (UMGNF) downgraded to Neutral from Buy at Citigroup
    • Universal Music Group N.V. (UMGNF) downgraded to Neutral from Buy at Guggenheim
    • Western New England Bancorp (WNEB) downgraded to Neutral from Buy at Janney
  • Others:
    • ARS Pharmaceuticals (SPRY) initiated with an Outperform at Raymond James; tgt $18
    • Aura Biosciences (AURA) initiated with a Buy at H.C. Wainwright; tgt $21
    • D-Wave Quantum (QBTS) initiated with a Buy at B. Riley Securities; tgt $3
    • Flotek Industries (FTK) initiated with a Buy at ROTH MKM; tgt $6.50
    • LandBridge (LB) initiated with a Buy at Janney; tgt $36
    • Panasonic (PCRHY) initiated with an Equal-Weight at Morgan Stanley
    • Perspective Therapeutics (CATX) initiated with a Buy at BofA Securities; tgt $24
    • Rigetti Computing (RGTI) initiated with a Buy at B. Riley Securities; tgt $3
    • Shopify (SHOP) resumed with an Overweight at KeyBanc Capital Markets; tgt $80
    • Universal Technical Institute (UTI) initiated with a Buy at Truist; tgt $22
    • Wix.com (WIX) resumed with a Sector Weight at KeyBanc Capital Markets

>>>US Early premarket gappers

Early premarket gappers
  • Gapping up:
    • VKTX +18.3%, MOH +10.7%, ROL +8.8%, DAWN +7.9%, ARGX +7.6%, NOW +6%, UL +6%, PI +5.5%, PEB +5%, PEGA +4.8%, GGG +4.7%, INVH +4.1%, IBM +4.1%, GTY +4.1%, GL +3.9%, CMG +3.7%, CLS +3.2%, CHDN +3.1%, BTI +3.1%, BITF +2.7%, SNY +2.5%, MRAM +2.4%, GSHD +2.3%, WCN +2.3%, SPR +2.2%, UHS +2.2%, TOWN +2.2%, KLAC +2.1%, URI +2%, TXT +1.9%, PCG +1.9%, CVBF +1.7%, MMC +1.6%, TYL +1.6%, PTEN +1.5%, MTH +1.3%, CMCSA +1.2%, RSG +1.2%, KMPR +1%
  • Gapping down:
    • EW -21.9%, MXL -18.1%, F -13.3%, STM -12.4%, RHI -9.8%, WST -9.8%, TER -8.1%, QS -8%, STLA -7.6%, LKQ -6.2%, HON -5.9%, ORLY -5.2%, CYH -4.8%, WBD -4.7%, KALU -4.4%, ALGN -4.4%, AZN -4.4%, DOW -4.4%, WM -4.3%, ASGN -3.8%, SLM -3.3%, RIOT -3.2%, WFG -3.1%, NEM -3%, WTW -3%, CLB -2.4%, DHI -2.3%, RNR -2.1%, LVS -2%, CHX -1.9%, TTE -1.9%, ALGM -1.6%, VMI -1.5%, TPH -1.4%, RJF -1.3%, MC -1.3%, ICLR -1%, VOD -1%

>>> Europe : Brokers Upgrades & Downgrades - 25th of July 2024 V2(+)

>>> Up
* Kempower Raised to Accumulate at Inderes; PT 16 euros
* Metso Raised to Buy at Inderes; PT 11 euros
* Norsk Hydro Raised to Hold at SEB Equities; PT 65 kroner
* Sanoma Raised to Buy at SEB Equities; PT 7.90 euros
* Spectris Raised to Buy at Berenberg

>>> Down
* Ascential Cut to Equal-Weight at Barclays; PT 570 pence
* Equinor Cut to Hold at DZ Bank; PT 295 kroner
* ID Logistics Group SACA Cut to Add at IDMidcaps; PT 441 euros (+)
* NextEra Energy Partners Cut to Peerperform at Wolfe
* OTP Bank Cut to Underweight at Morgan Stanley; PT 20,100 forint
* Repsol Cut to Sector Perform at RBC; PT 16 euros
* RS Group Cut to Hold at HSBC; PT 810 pence
* Seco/Warwick Cut to Hold at Erste Group; PT 30.90 zloty
* Sirius XM Cut to Sell at Citi; PT $2.80
* Solutions 30 Cut to Hold at Marex; PT 2.30 euros
* Tesla Cut to Neutral at KGI Securities; PT $236
* UMG Cut to Equal-Weight at Barclays; PT 26 euros
* UMG Cut to Neutral at Guggenheim; PT 27.50 euros
* UMG Cut to Neutral at Citi; PT 29.50 euros
* Valmet Cut to Hold at SEB Equities; PT 28 euros

>>> Initiation
* Hargreaves Rated New Corporate at Cavendish; PT 850 pence (+)

>>> Call
* Bucher Seen Lower After Guidance Cut and Weak Orders: Baader
* Elis Consensus May Rise After Solid Results, Morgan Stanley Says
* Goldman’s Rubner Says Stocks Flash Sell Signal to Systemic Funds
* Nestle Guidance Cut Raises Concerns on Profitability: Jefferies (+)
* Sanofi 2Q Is Solid Beat, Dupixent Outperforming, Intron Says (+)
* Stellantis Falls as Morgan Stanley Points to Weak Cash Flow (+)

WSJ : Nissan Motor Cuts Sales, Profit Forecasts After Weak Quarter

Nissan Motor Cuts Sales, Profit Forecasts After Weak Quarter
The Japanese carmaker’s net profit dropped 73% from a year earlier

Nissan Motor 7201 -6.98%decrease; red down pointing triangle lowered its annual vehicle-sales and profit forecasts after reporting a sharp drop in first-quarter net profit.

The Japanese carmaker said Thursday that net profit dropped 73% from a year earlier to 28.56 billion yen, the equivalent of $185.6 million, for the three months ended June. That missed the estimate of Y98.87 billion in a poll of analysts by data provider Quick.

First-quarter revenue increased 2.8% to Y2.998 trillion.

Nissan said higher sales and marketing expenses weighed on the bottom line.

For the year ending March 2025, it forecast net profit to drop 30% to Y300.00 billion, compared with its previous view of an 11% decline. Nissan now expects global sales to rise 6.0% to 3.65 million units, down from its earlier forecast of 3.7 million units.

The automaker projected that sales in China would drop 3.0% to 770,000 units this fiscal year, compared with a previous forecast of a 0.8% increase. The lowered guidance followed a 24% decline in Chinese sales the previous year due to intense competition and consumers’ shift away from conventional gas-powered vehicles.

The carmaker has been reshaping its global strategy following a restructuring of its alliance with Renault and Mitsubishi Motors last year.

Nissan and Honda Motor said in March that they would study ways to collaborate on electric vehicles, their core parts, and software.

>>> TradeGate Pre-Market Indications

DAX:
  • Bayer (BAYN TH) +0.2%
    • Australian Court Rejects Claim Bayer’s Roundup Causes Cancer
  • Continental (CON TH) -1.6%
  • Infineon (IFX TH) -2.7%
MDAX:
  • Nordex (NDX1 TH) +2.9%
    • Nordex Narrows FY Ebitda Margin Forecast
  • Aixtron (AIXA TH) +1.7%
    • Aixtron 2Q Ebit Misses Estimates
  • Hensoldt (HAG TH) -1%
  • Aroundtown (AT1 TH) -1.1%
    • Bloomberg Europe Corporate Index Up, OAS Unchanged
  • HelloFresh (HFG TH) -1.2%
SDAX:
  • BayWa (BYW6 TH) +16%
    • BayWa Prelim 2Q Ebit EU61.3m, Withdraws FY Ebit Forecast
  • PVA TePla (TPE TH) +0.7%
  • CompuGroup (COP TH) +0.7%
  • Thyssenkrupp Nucera AG & Co KGaa (NCH2 TH) +0.5%
  • Hamborner REIT (HABA TH) -0.2%
  • Deutsche PBB (PBB TH) -0.3%
  • SUSS MicroTec (SMHN TH) -0.3%
  • Kloeckner (KCO TH) -0.8%
  • Duerr (DUE TH) -1.1%
  • AUTO1 (AG1 TH) -2.6%

TechCrunch : Apple Maps launches on the web to challenge Google Maps

Apple Maps launches on the web to challenge Google Maps


Apple announced on Wednesday that Apple Maps is now available on the web via a public beta, which means you can now access the service directly from your browser. The launch puts Apple Maps in direct competition with Google Maps, which has long been available on the web.

Maps on the web is accessible in English and is compatible with Safari and Chrome on Mac and iPad, as well as Chrome and Edge on Windows PCs. Apple plans to bring support for additional languages, browsers and platforms in the future.

Apple Maps on the web works like it does on the mobile app. You can get driving and walking directions; order food from the Maps place card; browse curated guides and reviews; and more. Apple plans to bring additional functionality, like its 360-degree panoramic views “Look Around” feature, to the web version in the coming months.

Apple notes that developers can link out to Maps on the web, allowing their users to get driving directions, see detailed place information, and more.

The launch of the web version of Apple Maps comes 12 years after Apple launched the service on the iPhone. By expanding the availability of Apple Maps, the company is seeking to reach more users and take on Google Maps, which has largely been the go-to place for maps on the web.

>>> Stoxx 600 Pre-Market Indications

  • AstraZeneca (ZEG TH) +1.2%
    • *ASTRA RAISES FY CORE EPS VIEW TO MID TEENS PERCENTAGE GROWTH
  • Deutsche Boerse (DB1 TH) +1%
    • Deutsche Boerse’s Ebitda Outlook Gets Expected Lift: Street Wrap
  • Sanofi (SNW TH) +0.7%
    • *SANOFI RAISES FY BUSINESS EPS GROWTH EX-FX GUIDANCE
  • Stellantis (8TI TH) -2.1%
    • Stellantis Earnings Nearly Halve on Weak US Shipments
  • Hermes (HMI TH) -2.1%
  • ASM Intl (AVS TH) -2.5%
  • ASML (ASME TH) -2.8%
  • Infineon (IFX TH) -3.1%
    • China’s Soft Contribution Another Blow to DAX Earnings Momentum
  • Verbund (OEWA TH) -3.5%
    • Verbund 1H Ebitda Misses Estimates, Narrows FY Forecast
  • Renault (RNL TH) -4.1%
  • BE Semiconductor (BSI TH) -6.2%
    • BE Semiconductor 2Q Orders Misses Estimates
  • Kering (PPX TH) -6.2%
    • Kering Drops as Results, Outlook Worse Than Feared: Street Wrap
  • STMicroelectronics (SGM TH) -9.5%
    • *STMICROELECTRONICS SEES FY NET REV. $13.2B TO $13.7B