>>> US Gapping up

Gapping up
News:
  • AAN +4.9% (to be acquired by IQVentures for $10.10 per share)
  • COYA +3.9% (files for 603,136 share common stock offering by selling shareholder)
  • BWAY +3.9% (announces broad market entry into Canada for its Deep TMS system)
  • MRNS +2.7% (announces topline results from the Phase 3 double-blind, randomized, placebo-controlled RAISE trial)
  • CG +1.7% (looking into selling its electric power producer Cogentrix for as much as $3.0-4.0 bln, according to FT.com)
  • IRON +1.6% (files for 4,944,000 shares of common stock at a price of $36.00/share)
  • GLPG +1.2% (presents encouraging new data for CD19 CAR-T candidate GLPG5101 in non-Hodgkin lymphoma at EHA 2024)
  • BLCO +1.1% (announces presentation of new data at the European Dry Eye Society 2024 Congress)
  • OVID +1% (reports on Takeda's (TAK) announcement of phase 3 topline study results for Soticlestat)
  • NFBK +0.8% (approves $10 mln share repurchase authorization)
  • REGN +0.8% (reports updated Linvoseltamab data showcasing continued deepening of responses in patients with heavily pre-treated multiple myeloma)

>>> Solid Power reaffirms FY24 guidance

Solid Power reaffirms FY24 guidance (1.67)
  • Solid Power previously reported strong execution in the first quarter of this year, delivering on both partner commitments and development timelines. The company has seen growing interest in its electrolyte product, has successfully shipped electrolyte samples, and is making meaningful progress towards its target delivery of A-2 sample cells by the end of the year. With its strong financial position, the company aims to expand its electrolyte capabilities and available markets, advance A-2 sample cell designs, and strengthen its presence in Korea in 2024, all while continuing to execute on its key strategic milestones.
  • Solid Power is reaffirming its 2024 guidance provided in its first quarter 2024 earnings materials on May 7, 2024. The company continues to expect 2024 cash used in operations to be in the range of $60 million to $70 million and capital expenditures to be in the range of $40 million to $50 million. Included in these ranges is approximately $35 million in operational and capital investments the company deferred from 2023. Total 2024 cash investment is expected to be in the range of $100 million to $120 million. 2024 revenue is still expected to be in the range of $20 million to $25 million.

Reuters : Berkshire Hathaway sells $39.8 mln of shares in China's BYD

Berkshire Hathaway sells $39.8 mln of shares in China's BYD

BEIJING, June 17 (Reuters) - Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab has sold 1.3 million Hong Kong-listed shares of EV maker BYD (1211.HK), opens new tab, (002594.SZ), opens new tab for HK$310.5 million ($39.8 million), a stock exchange filing showed on Monday.

Berkshire's holdings in BYD's issued H-shares were lowered to 6.90% from 7.02% following the sale on June 11, according to the filing with the Hong Kong stock exchange.

BYD is one of the investment conglomerate's few non-U.S. investments. It was finalized in 2008, though Berkshire began reducing that stake in 2022.

>>> US Early premarket gappers

Early premarket gappers
  • Gapping up:
    • COYA +3.9%, CG +1.7%, IRON +1.6%, GLPG +1.2%, NFBK +0.8%, REGN +0.8%, MCS +0.7%, AMGN +0.6%, AVGO +0.5%, AZN +0.5%, GBDC +0.5%, PRMW +0.5%
  • Gapping down:
    • INVH -3.1%, RRGB -2.1%, CAPR -1.9%, CPNG -0.8%, PMT -0.7%, GOLF -0.7%, DFS -0.6%, UBS -0.6%

>>> Europe : Brokers Upgrades & Downgrades - 17th of June 2024 V3(++)

>>> Up
* Crest Nicholson Raised to Add at Peel Hunt
* Deutsche Boerse Raised to Buy at Kepler Cheuvreux; PT 205 euros (++)
* Retail Estates Raised to Buy at Kepler Cheuvreux; PT 74 euros (++)
* Toll Brothers Raised to Neutral at Goldman; PT $124

>>> Down
* Ascencio Cut to Hold at Kepler Cheuvreux; PT 51 euros (++)
* KMC Properties Cut to Neutral at SpareBank; PT 7.60 kroner
* SSP Cut to Sell at Goldman; PT 160 pence
* Sensirion Cut to Hold at Research Partners; PT 85 Swiss francs (+)
* Suedzucker Cut to Reduce at AlphaValue/Baader (+)
* Suess MicroTec Cut to Hold at Hauck & Aufhaeuser; PT 63 euros (+)
* Vectron Systems Cut to Sell at M.M. Warburg; PT 10.50 euros (+)

>>> Initiation
* Babcock Rated New Hold at Investec; PT 565 pence
* Bowhead Specialty Rated New Equal-Weight at Morgan Stanley
* ERG Rated New Underperform at BofA (++)
* QinetiQ Reinstated Buy at Investec; PT 535 pence (+)
* Solaria Energia Rated New Buy at BofA (++)

>>> Call
* Aston Martin Slips; Jefferies Cuts PT on Production Worries (++)
* CONTINENTAL EUROPEAN EQUITIES DOWNGRADED TO NEUTRAL AT CITI
* EssilorLuxottica Gains; UBS Hikes to Buy on Defensive Appeal (++)
* US EQUITIES UPGRADED TO OVERWEIGHT VS NEUTRAL AT CITI
* Evotec Loses Clean Sweep of Buys as Intron Double-Downgrades
* Goldman Sachs Boosts S&P 500 Year-End Target to 5,600 From 5,200
* Morgan Stanley’s Wilson Says Soft Growth Is a Risk for US Stocks (+)
* Pierer Mobility’s Hefty Profit Warning Weighs on Stock: Vontobel (++)

>>> Europe : Brokers Upgrades & Downgrades - 17th of June 2024 V2(+)

>>> Up
* Crest Nicholson Raised to Add at Peel Hunt
* Toll Brothers Raised to Neutral at Goldman; PT $124

>>> Down
* KMC Properties Cut to Neutral at SpareBank; PT 7.60 kroner
* SSP Cut to Sell at Goldman; PT 160 pence
* Sensirion Cut to Hold at Research Partners; PT 85 Swiss francs (+)
* Suedzucker Cut to Reduce at AlphaValue/Baader (+)
* Suess MicroTec Cut to Hold at Hauck & Aufhaeuser; PT 63 euros (+)
* Vectron Systems Cut to Sell at M.M. Warburg; PT 10.50 euros (+)

>>> Initiation
* Babcock Rated New Hold at Investec; PT 565 pence
* Bowhead Specialty Rated New Equal-Weight at Morgan Stanley
* QinetiQ Reinstated Buy at Investec; PT 535 pence (+)

>>> Call
* CONTINENTAL EUROPEAN EQUITIES DOWNGRADED TO NEUTRAL AT CITI
* US EQUITIES UPGRADED TO OVERWEIGHT VS NEUTRAL AT CITI
* Evotec Loses Clean Sweep of Buys as Intron Double-Downgrades
* Goldman Sachs Boosts S&P 500 Year-End Target to 5,600 From 5,200
* Morgan Stanley’s Wilson Says Soft Growth Is a Risk for US Stocks (+)