>>> US Gapping up

Gapping up
In reaction to earnings/guidance:
  • QD +5.2%, ERJ +4.5%, MNTX +3.1%
Other news:
  • NVEI +29% (responds to recent press reports speculating as to a potential going-private transaction)
  • GOEV +13.4% (announced that the U.S. Department of Commerce has approved its Oklahoma City facility as a Foreign Trade Zone)
  • VERI +13.4% (to delay 10-K filing)
  • HCP +10% (report it has been considering options including a sale, according to Bloomberg)
  • FENC +6.2% (Fennec Pharmaceuticals and Norgine enter into exclusive licensing agreement to commercialize PEDMARQSI in Europe, Australia, and New Zealand)
  • LVO +4.3% (provides update for March)
  • WEST +3.9% (entered into Equity Distribution Agreement not to exceed 5 mln shares of Common Stock)
  • FF +3.8% (provides update on $2.50 per share special cash dividend)
  • CSTL +3.4% (New Study Shows that the Drug-Drug Interactions and Lifestyle Factors Provided by Castle Biosciences' IDgenetix Test Significantly Improve Medication Recommendations Over Drug-Gene Interactions Alone for Patients 65 and Older)
  • TSLA +3.2% (Elon Musk says Model Y price will rise by $1000 in a few weeks)
  • BEP +3% (files mixed securities shelf offering)
  • PHVS +3% (announces phase 3 clinical study design for recently initiated RAPIDe-3 Study, and presents quality-of-life improvement and caregiver behavior data at Two Recent HAE Congresses)
  • KALV +2.8% (presents real-world data on burden of treatment and HAE Attack Journey at the 2024 HAEi Regional Conference Americas)
  • OPTN +2.1% (following trading halt on Friday)
  • VVI +2% (files mixed shelf securities offering)
  • AVXL +2% (announces that the first patient in its U.S. FDA cleared placebo-controlled Phase 2 clinical study of ANAVEX3-71 for the treatment of schizophrenia has been screened ahead of schedule)
  • DWAC +1.3% (entered into an amendment to the Warrant Agreement in connection with the Business Combination, on March 15)
  • PBR +1.2% (clarifies pieces of news in the media)
  • HMC +1.2% (sign MOU with Nissan to collaborate on Evs)

>>> US Research Calls V1

Research Calls
  • Upgrades:
    • Futu Holdings (FUTU) upgraded to Outperform from Underperform at CLSA; tgt raised to $65
    • Globus Medical (GMED) upgraded to Buy from Neutral at BTIG Research; tgt $60
    • PepsiCo (PEP) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $190
    • Pinnacle West (PNW) upgraded to Buy from Neutral at BofA Securities; tgt raised to $80
    • Regions Fincl (RF) upgraded to Buy from Neutral at Citigroup; tgt raised to $23
    • Ventas (VTR) upgraded to Outperform from In-line at Evercore ISI; tgt $50
  • Downgrades:
    • Apartment Income REIT Corp. (AIRC) downgraded to Mkt Perform from Outperform at Raymond James
    • Invitation Homes (INVH) downgraded to In-line from Outperform at Evercore ISI; tgt $36
    • New York Community (NYCB) downgraded to Underperform from Mkt Perform at Raymond James; tgt $3
    • NIKE (NKE) downgraded to Sell from Hold at Williams Trading
    • Prologis (PLD) downgraded to In-line from Outperform at Evercore ISI; tgt $136
    • SL Green Realty (SLG) downgraded to Underperform from In-line at Evercore ISI; tgt $44
    • Terex (TEX) downgraded to Neutral from Overweight at JP Morgan; tgt $63
  • Others:
    • Ball Corp (BALL) initiated with an Equal-Weight at Morgan Stanley; tgt $68
    • Howmet Aerospace (HWM) initiated with an Outperform at RBC Capital Mkts; tgt $75
    • Medpace (MEDP) initiated with a Hold at Deutsche Bank; tgt $395
    • Welltower (WELL) initiated with an Outperform at Exane BNP Paribas; tgt $104

>>> US Early premarket gappers

Early premarket gappers
  • Gapping up:
    • NVEI +16.1%, HCP +11.2%, FENC +8%, OPTN +4.3%, LVO +4.3%, FF +4%, WEST +3.9%, GOEV +3.6%, QD +3.6%, CSTL +3.4%, TSLA +3.3%, MNTX +3.1%, BEP +3%, KALV +2.8%, VVI +2%, CCI +2%, PWFL +1.9%, INSE +1.8%, HMC +1.7%, PBR +1.2%, DWAC +1.1%, PRCH +0.9%
  • Gapping down:
    • RILY -10.7%, LOGI -7.8%, NIU -4.5%, SRG -2.5%, LEGH -2.5%, SN -2.4%, MOND -2.3%, HLN -2.2%, AMTX -1.6%, ADCT -0.8%, CSL -0.6%

>>> Europe : Brokers Upgrades & Downgrades - 18th of March 2024 V3(++)

>>> Up
* Aalberts Raised to Buy at Bank Degroof Petercam (++)
* Alisa Pankki Oyj Raised to Reduce at Inderes; PT 15 euro cents
* Alstom Raised to Buy at Deutsche Bank (+)
* Aston Martin Raised to Buy at BofA; PT 250 pence (+)
* Beazley PT Raised to 975 pence from 775 pence at RBC
* Covivio Raised to Buy at HSBC; PT 52 euros
* Datalogic Raised to Buy at Intesa Sanpaolo; PT 6.90 euros (+)
* E.On Raised to Equal-Weight at Morgan Stanley; PT 15 euros
* Infotel Raised to Buy at Euroland Corporate; PT 54 euros
* Italgas Raised to Neutral at Grupo Santander; PT 5.50 euros (+)
* MVISE Raised to Speculative Buy at SMC Research; PT 1.60 euros (+)
* Nvidia PT Raised to $1,177 from $911 at Truist Secs (++)
* PepsiCo Raised to Overweight at Morgan Stanley; PT $190
* PZ Cussons Raised to Buy at Numis; PT 141 pence (+)
* Redeia Raised to Buy at Bestinver; PT 16.50 euros (+)
* Rentokil Raised to Outperform at BNPP Exane; PT 620 pence
* Signify Raised to Overweight at Barclays; PT 32 euros
* Systemair Raised to Buy at Jefferies; PT 85 kronor

>>> Down
* Aena Cut to Hold at Jefferies; PT 188 euros
* Bytes Technology Cut to Hold at Numis; PT 585 pence (+)
* Centrica Cut to Sector Perform at RBC; PT 145 pence
* EDP Renovaveis Cut to Hold at SocGen; PT 14.30 euros
* Gecina Cut to Hold at HSBC; PT 105 euros
* Meyer Burger Cut to Neutral at Goldman; PT 0.07 Swiss francs
* Nike Cut to Sell at Williams Trading; PT $85
* Nike PT Cut to $120 from $140 at Telsey (++)
* OHL Cut to Hold at SocGen; PT 38 euro cents (+)
* Reckitt Raised to Outperform at BNPP Exane; PT 5,300 pence (+)
* Richemont Cut to Market Perform at ZKB (+)
* Vidrala Cut to Underperform at Oddo BHF (+)

>>> Initiation
* C3.ai Rated New Underperform at Baptista Research; PT $29.70
* JM Re-Initiated Buy at Danske Bank Markets; PT 250 kronor (+)
* NCC Reinstated Hold at Danske Bank Markets; PT 160 kronor (++)
* Renk Group Rated New Neutral at Citi; PT 28.50 euros
* Renk Group Rated New Neutral at Goldman; PT 25.90 euros
* Renk Group Rated New Outperform at Oddo BHF; PT 30.50 euros
* Renk Group Rated New Hold at Kepler Cheuvreux; PT 27 euros (++)
* Swedish Logistic Property Rated New Buy at ABG; PT 35 kronor
* Telecom Plus Rated New Buy at Investec; PT 2,197 pence
* Viasat Rated New Buy at Baptista Research; PT $25.30
* Webrock Ventures Rated New Buy at Pareto Securities (++)

>>> Call
* Aena Strategy Reflected in Consensus, Jefferies Cuts to Hold
* Alstom Jumps as Deutsche Bank Upgrades to Buy on Optimism (++)
* Beazley Ready for a Re-Rating, PT Lifted to Street-High at RBC
* Centrica Downgraded at RBC on Lack of Upcoming Catalysts
* E.On Upgraded at Morgan Stanley on Much Better Growth Guidance
* JPMorgan’s Matejka Closes Preference for US Stocks Over Europe
* Lancashire Gains as BofA Lifts to Buy on Better Business Mix (++)
* Morgan Stanley’s Wilson Says Stocks Nearing Crucial Rates Test (+)
* Oppenheimer AM Sees Some Buying Opportunity in Stocks Pullback (+)
* Reckitt Cash Returns at Risk on Formula Litigation: Jefferies
* Richemont Falls as ZKB Cuts on Risk of Baseline Disappointment (++)
* Signify Double-Upgraded at Barclays on Compelling Risk-Reward (++)
* Systemair Raised at Jefferies, Positioned For Market Trends

>>> Europe : Brokers Upgrades & Downgrades - 18th of March 2024 V2(+)

>>> Up
* Alisa Pankki Oyj Raised to Reduce at Inderes; PT 15 euro cents
* Alstom Raised to Buy at Deutsche Bank (+)
* Aston Martin Raised to Buy at BofA; PT 250 pence (+)
* Beazley PT Raised to 975 pence from 775 pence at RBC
* Covivio Raised to Buy at HSBC; PT 52 euros
* Datalogic Raised to Buy at Intesa Sanpaolo; PT 6.90 euros (+)
* E.On Raised to Equal-Weight at Morgan Stanley; PT 15 euros
* Infotel Raised to Buy at Euroland Corporate; PT 54 euros
* Italgas Raised to Neutral at Grupo Santander; PT 5.50 euros (+)
* MVISE Raised to Speculative Buy at SMC Research; PT 1.60 euros (+)
* PepsiCo Raised to Overweight at Morgan Stanley; PT $190
* PZ Cussons Raised to Buy at Numis; PT 141 pence (+)
* Redeia Raised to Buy at Bestinver; PT 16.50 euros (+)
* Rentokil Raised to Outperform at BNPP Exane; PT 620 pence
* Signify Raised to Overweight at Barclays; PT 32 euros
* Systemair Raised to Buy at Jefferies; PT 85 kronor

>>> Down
* Aena Cut to Hold at Jefferies; PT 188 euros
* Bytes Technology Cut to Hold at Numis; PT 585 pence (+)
* Centrica Cut to Sector Perform at RBC; PT 145 pence
* EDP Renovaveis Cut to Hold at SocGen; PT 14.30 euros
* Gecina Cut to Hold at HSBC; PT 105 euros
* Meyer Burger Cut to Neutral at Goldman; PT 0.07 Swiss francs
* Nike Cut to Sell at Williams Trading; PT $85
* OHL Cut to Hold at SocGen; PT 38 euro cents (+)
* Reckitt Raised to Outperform at BNPP Exane; PT 5,300 pence (+)
* Richemont Cut to Market Perform at ZKB (+)
* Vidrala Cut to Underperform at Oddo BHF (+)

>>> Initiation
* C3.ai Rated New Underperform at Baptista Research; PT $29.70
* JM Re-Initiated Buy at Danske Bank Markets; PT 250 kronor (+)
* Renk Group Rated New Neutral at Citi; PT 28.50 euros
* Renk Group Rated New Neutral at Goldman; PT 25.90 euros
* Renk Group Rated New Outperform at Oddo BHF; PT 30.50 euros
* Swedish Logistic Property Rated New Buy at ABG; PT 35 kronor
* Telecom Plus Rated New Buy at Investec; PT 2,197 pence
* Viasat Rated New Buy at Baptista Research; PT $25.30

>>> Call
* Aena Strategy Reflected in Consensus, Jefferies Cuts to Hold
* Beazley Ready for a Re-Rating, PT Lifted to Street-High at RBC
* Centrica Downgraded at RBC on Lack of Upcoming Catalysts
* E.On Upgraded at Morgan Stanley on Much Better Growth Guidance
* JPMorgan’s Matejka Closes Preference for US Stocks Over Europe
* Morgan Stanley’s Wilson Says Stocks Nearing Crucial Rates Test (+)
* Oppenheimer AM Sees Some Buying Opportunity in Stocks Pullback (+)
* Reckitt Cash Returns at Risk on Formula Litigation: Jefferies
* Signify Double-Upgraded at Barclays on Compelling Risk-Reward (+)
* Systemair Raised at Jefferies, Positioned For Market Trends

>>> Stoxx 600 Pre-Market Indications

  • Novonesis (Novozymes) B (NZM2 TH) +3.8%
  • Rentokil (RTO1 TH) +3.2%
    • Rentokil Raised to Outperform at BNPP Exane; PT 620 pence
  • Ubisoft (UEN TH) +1.8%
  • BAE (BSP TH) +1.7%
  • Rheinmetall (RHM TH) +1.6%
  • Intesa Sanpaolo (IES TH) +1.3%
  • Nordea Bank (04Q TH) +1.2%
  • Alstom (AOMD TH) +1.2%
    • Alstom Raised to Buy at Deutsche Bank
  • Aena (A44 TH) -0.9%
    • Aena Strategy Reflected in Consensus, Jefferies Cuts to Hold
  • Mowi (PND TH) -1%
  • Ryanair (RY4C TH) -1.4%
    • Boeing’s Pain Spreads to Travelers as Airlines Cut Back on Plans
  • Nokia (NOA3 TH) -1.8%
  • UCB (UNC TH) -3%
  • Haleon (H6D0 TH) -3.9%
    • Pfizer Plans to Sell About £2 Billion of Shares in Haleon

>>> TradeGate Pre-Market Indications

DAX:
  • Rheinmetall (RHM TH) +1.6%
  • Airbus (AIR TH) +1.3%
    • Boeing’s Pain Spreads to Travelers as Airlines Cut Back on Plans
  • Vonovia (VNA TH) +1.1%
  • RWE (RWE TH) +1%
  • Infineon (IFX TH) +0.9%
    • *UBS RAISES TARGET FOR INFINEON TO 46 (45) EUR - ‘BUY’ = APA
MDAX:
  • Lufthansa (LHA TH) +1.4%
  • Fresenius Medical Care (FME TH) +1.3%
  • Jenoptik (JEN TH) +1.1%
  • Evotec SE (EVT TH) +1.1%
  • Aroundtown (AT1 TH) +1%
  • Hella (HLE TH) -1.4%
SDAX:
  • Ceconomy (CEC TH) +2%
  • Varta (VAR1 TH) +1.9%
  • W&W (WUW TH) +1.8%
  • SAF-Holland SE (SFQ TH) +1.5%
  • Hamborner REIT (HABA TH) +1.4%
  • MorphoSys (MOR TH) -1.4%
  • Deutsche PBB (PBB TH) -1.9%