TheChek News Flow

>>> What to look at today - 4th of May 2023

Asian stocks and US futures edged higher as investors brushed aside the Federal Reserve’s commentary against interest-rate cuts and looked ahead to an eventual pivot to policy easing. An Asia-wide gauge of equities was on course for its best day in about three weeks, helped by an advance in Hong Kong shares. Stocks in mainland China whipsawed as they resumed trading after a three-day break, while Australian and South Korean shares trimmed early declines. Contracts for the S&P 500 and the Nasdaq 100 were moderately higher after a drop on Wednesday, when the turmoil in US regional banks added to market volatility. The moves followed a 25 basis-points increase from the Fed and comments from Chair Jerome Powell that opened the door for a pause in June but played down the prospect of rate cuts later in the year — a scenario firmly reflected in market pricing. US regional lender PacWest Bancorp slumped 60% in US postmarket trading Wednesday, reigniting bank stability fears after people familiar said the Beverly Hills-based company had been weighing a range of strategic options, including a sale. The rate debate will resume again later Thursday, with the European Central Bank taking center stage. Policymakers are seen raising the deposit rate by a quarter-point to a 3.25%, which would mark a slowdown in their hiking cycle. The decision is expected at 2:15 p.m. in Frankfurt, followed half an hour later by President Christine Lagarde speaking at a press conference. US After Hours Busy earnings, headliners include SEDG +7.3%, QRVO +6.5%, ZG +5.3%, ETSY +2.4% on upside; SYNA -20.1%, FARO -12.7%, QCOM -6.7% on downside; PACW -57.5% down sharply on report it's mulling options; OPCH to acquire AMED in all-stock deal.

Nikkei +0.12% Hang Seng +0.94% CSI -0.05% Shanghai +0.64% Shenzen -0.33%

Eur$ 1.1084 CNH 6.9064 CNY 6.9009 JPY 134.50 GBP 1.2587 CHF 0.8828 RUB 79.4362 TRY 19.4794 WTI$ 69.01 +0.60% Gold 2,044.32 +0.27% BTC 29,115 +2.05% ETH 1,900 +1.40%

S&P +0.21% Nasdaq +0.44% EuroStoxx -0.09% FTSE -0.24% Dax +0.05% SMI -0.23%

Macro :
- US IPO Pipeline Can Get a Boost From Arm, Flutter: ECM Watch

- Gundlach Says Recession Odds Are ‘Pretty Darn High’ Right Now

Keep an eye on :

- ABI BB : AB InBev 1Q Organic Adjusted Ebitda Beats Estimates

- ACE IM : Acea Board Confirms Fabrizio Palermo as CEO

- ADEN SW : Adecco 1Q Adjusted Ebita Beats Estimates

- AIR FP : Airbus 1Q Adjusted Ebit Misses Estimates

- AIR FP : Airbus warns that supply chain crisis could last until 2024

- AKSO NO : Aker Solutions 1Q Adjusted Ebitda Beats Estimates

- ALB US : Albemarle Cuts FY Adjusted EPS Forecast, Misses Estimates

- AMG NA : AMG Maintains FY Ebitda Forecast

- ANIM IM : Anima Holding: April Net Inflows Into Managed Assets €86m

- ARCAD NA : Arcadis 1Q Net Revenue EU940M Vs. EU688M Y/y

- ARGX BB : Argenx 1Q Vyvgart Sales Beats Estimates

- MT NA : ArcelorMittal 1Q Ebitda Beats Estimates

- ATCOA SS : Atlas Copco Buys CP Service in Italy; No Deal Terms

- BAMNB NA : BAM 1Q Adjusted Ebitda EU57.9M Vs. EU97.3M Y/y

- BFSA GY : Befesa 1Q Adjusted Ebitda Beats Estimates

- BMW GY : BMW Plans to Buy Back More Shares Worth Up to €2 Billion

- CAP FP : Capgemini 1Q Revenue Beats Estimates

- CO FP : Casino Needs to Deal With Debt Rapidly, Kretinsky Says: Le Point

- CO FP : Casino 1Q Net Sales Misses Estimates

- DEZ GY : Deutz Maintains FY Adjusted Ebit Margin Forecast

- DSM NA : DSM-Firmenich to Replace Co-CEO Structure From Sept. 1

- ENEL IM : Enel 1Q Adjusted Net Income Beats Estimates

- EQNR NO : Equinor 1Q Profit Beats Analyst Estimates With Production Boost

- EL US : Estee Lauder Sinks By Record Amount on Slashed EPS

- FFARM NA : ForFarmers 1Q Underlying Ebitda +4.5%

- FNTN GY : Freenet 1Q Revenue Beats Estimates

- GALP PL : Galp Says Maria Joao Carioca to Be Chief Financial Officer

- GAM SW : GAM Board to Recommend Selling Business to Liontrust

- GBLB BB : GBL 1Q Net Assets EU18.60B Vs. EU17.78B Q/Q

- GSK LN : GSK Vaccine Wins US Nod as Big Pharma Finally Foils Lung Illness

- HOFI SS : Hoist Finance 1Q Operating Income SEK766M Vs. SEK635M Y/y
- IFX GY : Infineon Sees 3Q Segment Result Margin About 26%, Est. 25.1%

- IFX GY : Infineon Raises Yearly Revenue Forecast on Carmaker Demand

- ISS DC : ISS Boosts FY Organic Revenue Forecast

- KCR FH : Konecranes Gets EU130M Order From The Port of Virginia

- KTN GY : Kontron Sees FY Ebitda Margin 11%

- KWS GY : KWS Saat Boosts FY Ebit Margin Forecast

- LAZ US : Lazard to Close Multiple Offices in Latin America Amid Slowdown

- LMND US : Lemonade FY Revenue Forecast Beats Estimates

- LDO IM : Leonardo 1Q Revenue Misses Estimates

- MBG GY : Tianqi Said to Weigh Investing in Mercedes-Geely Smart Venture

- MOR GY : MorphoSys 1Q Revenue Beats Estimates

- MUSTI FH : Musti Group 2Q Operating Profit Beats Estimates

- NETC DC : Netcompany 1Q Revenue Beats Estimates

- NWO GY : New Work Sees FY Pro Forma Ebitda EU92M to EU100M

- NOVOB DC : Novo Nordisk 1Q Wegovy Sales Misses Estimates

- ONTEX BB : Ontex 1Q Adjusted Ebitda EU55.7M Vs. EU24.7M Y/y

- QIA GY : Qiagen Sees FY Adjusted EPS at Least $2.10, Est. $2.09

- RHM GY : Rheinmetall 1Q Operating Profit Misses Estimates

- 005930 KS : Samsung Union Warns of Historic Walkout as Slump Persists (1)

- SANOMA FH : Sanoma 1Q Ebit Loss EU43.1M, Est. Loss EU31.8M

- SRT GY : Sartorius CFO Rainer Lehmann to Step Down Later This Year

- SKAB SS : Skanska 1Q Revenue Misses Estimates

- SOLB BB : Solvay Boosts FY Organic Adjusted Ebitda Forecast

- SCMN SW : Swisscom 1Q Ebitda Matches Estimates

- SREN SW : Swiss Re Sees FY Net Income Above $3B, Est. $3.13B

- TEL NO : Telenor 1Q Ebitda Misses Estimates

- THG LN : THG Unlikely to Close a Deal With Apollo Seeing Profitable Exit

- UCG IM : UniCredit to Use €300M Charges on Voluntary Staff Exits: Rtrs

- TIETO FH : TietoEVRY 1Q Adj. Op. Profit Meets Estimates, Plans Job Cuts

- VCT FP : Vicat 1Q Like-for-Like Sales +19.4%

- VIMIAN SS : Vimian 1Q Revenue Beats Estimates

- VOD LN : Vodafone, CK Hutchison Near £15 Billion UK Mobile Tieup, FT Says

- VNA GY : Vonovia 1Q FFO I per Share EU0.58

- VNA GY : Vonovia, Deutsche Wohnen Sell Five Assets to CBRE for ~EU560m

- WAWI NO : Wallenius Wilhelmsen 1Q Ebitda Misses Estimates

- ZAL GY : Zalando 1Q Adjusted Ebit Loss EU0.7M, Est. Loss EU17.8M

(BN) GAM Board to Recommend Selling Business to Liontrust

(BFW) Casino Needs to Deal With Debt Rapidly, Kretinsky Says: Le Point

>>> US After Hours Summary: Busy earnings, headliners include SEDG +7.3%, QRVO +

After Hours Summary: Busy earnings, headliners include SEDG +7.3%, QRVO +6.5%, ZG +5.3%, ETSY +2.4% on upside; SYNA -20.1%, FARO -12.7%, QCOM -6.7% on downside; PACW -57.5% down sharply on report it's mulling options; OPCH to acquire AMED in all-stock deal

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: RSI +13%, LMND +10.9%, ATUS +8.1%, FROG +8%, PCOR +7.9%, CFLT +7.5%, SEDG +7.3%, INFN +6.6%, QRVO +6.5%, CPE +6% (also to acquire Core Delaware Basin assets and Exit Eagle Ford), CTSH +5.5% (also increases dividend), ZG +5.3%, HCC +4.9%, HUBS +4.8%, CODI +4.7%, RELY +4.5%, HST +3.9%, MGY +3.9%, DHT +3.8%, VMEO +3.4%, FLT +3.2%, IR +3.2%, AVT +3.1%, ETSY +2.4%, AEIS +2.3%, AMED +2.3% (also to be acquired by OPCH), CTVA +2.2%, MELI +2.2%, NGVT +2.2%, NSTG +2.2%, SUM +2.1%, VSTO +2.1%, ACLS +2%, OLED +2% (also acquires Phosphorescent OLED Emitter IP assets of Merck), PLMR +2%, RGNX +2%, SRI +2%, ALL +1.9%, MKSI +1.8%, RGLD +1.8%, RGLD +1.8%, KW +1.7%, UDMY +1.7%, KRO +1.5%, FATE +1.4%, OPK +1.3%, CIVI +1.1%, WTS +1.1%, CW +0.7%, FSLY +0.7%, MMS +0.7%, O +0.7%, KLIC +0.6%, CCRN +0.3% (also replenishes repurchase program to $100 mln), EQIX +0.2%, REZI +0.2%, WES +0.2%, WMB +0.2%, BHE +0.1%, EVH +0.1%, NE +0.1%, RPT +0.1%, UGI +0.1% (also increases dividend), ULCC +0.1%

Companies trading higher in after hours in reaction to news: AMED +2.3% (OPCH to acquire AMED in all-stock deal), BTBT +1.9% (reports April production), PAC +1.3% (reports April traffic), VRTX +1.1% (FDA approves KALYDECO for children with cystic fibrosis), STE +0.9% (authorizes new $500 mln share repurchase program), IMGN +0.6% ($200 mln stock offering), LAZ +0.2% (to close multiple office across Latin America to cut costs, according to Bloomberg), CBOE +0.1% (reports April trading volume)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: HOUS -25.2%, SYNA -20.1% (also authorizes new $500 mln share repurchase program), OPCH -16.8% (also to acquire AMED), FARO -12.7% (also CEO to retire), TNDM -10.6%, UPWK -8.2%, TRIP -7.9%, ARDX -7.7%, ALKT -7.1%, QCOM -6.7%, OM -5.2%, GIL -4.5%, RGR -4.5%, CDAY -4.1%, AMWL -4%, LESL -3.5%, GNK -3.2%, RVLV -3.2%, OUT -3.1%, ALLO -3%, STAA -3%, ANSS -2.9%, SITM -2.9%, ADPT -2.7%, RUN -2.6%, DEN -2.3%, EQH -2.2%, NVST -2.1%, CORT -2%, ECPG -2%, MTG -2%, CHRD -2%, CXW -1.9%, GL -1.9%, ACEL -1.8%, FNF -1.6%, MOS -1.6%, ATO -1.5%, INFA -1.5%, INFA -1.5%, QNST -1.1%, ES -0.8%, ALB -0.6%, PGRE -0.5%, APA -0.4%, ERII -0.4%, MET -0.3% (also authorizes new $3 bln share repurchase program), MRO -0.3%, NARI -0.3%, USPH -0.2%, AMK -0.1%, ESTE -0.1%

Companies trading lower in after hours in reaction to news: PACW -57.5% (mulling strategic options including sale, according to Bloomberg), WAL -32.2% (in sympathy with PACW news), ZYXI -22.7% ($50 mln convertible note offering; also CEO commences 2 mln share offering), MCB -21.1% (in sympathy with PACW news), OPCH -16.8% (OPCH to acquire AMED in all-stock deal), RPHM -10.8% (commences public offering), VCYT -3.1% (announces data published in journal), RYI -3% (commences stock offering), SCHW -2.7% (in sympathy with PACW news), AAPL -1.8% (in sympathy with QCOM earnings), LIN -1.3% (files mixed securities shelf offering), JOBY -1.1% (prices offering, also reports earnings), BLNK -0.8% (COO to become new CEO), UBER -0.7% (files mixed securities shelf offering), NOVA -0.6% (teaming up with Amica Insurance to expand services), LGIH -0.6% (reprots April home closings), ABNB -0.5% (introduces Airbnb Rooms), MRVL -0.5% (CEO also named as Chair of the Board, succeeds Rick Hill who is retiring)

(BFW) Vodafone, CK Hutchison Near UK Mobile Deal at £15b Value: FT (1)

(TEL) Lionel Messi in talks over £320m-a-year Saudi Arabia move

FT : Russia accuses Ukraine of attempting to assassinate Vladimir Putin

From: Laurent Chekroun (MAKOR CAPITAL MARKET) At: 05/03/23 15:53:45 UTC+2:00

Subject: FT : Side Qty BloombergCode Px % Exec Exec. Qty LeavesQuantity Avg Px Ccy Client

Russia accuses Ukraine of attempting to assassinate Vladimir Putin

Unconfirmed report from state newswire says two Ukrainian drones attacked Kremlin

The Kremlin accused Ukraine on Wednesday of attempting to assassinate Russian president Vladimir Putin in a late-night drone attack on his residence and vowed to retaliate.

Russia’s military and secret services “acted in a timely fashion” to shoot down two Ukrainian drones that attacked the Kremlin overnight, according to a statement by Putin’s press service.

The Kremlin said the alleged strike, in which Putin was unharmed, was “a planned terrorist attack and attempted assassination of the president of Russia” ahead of the planned Victory Day parade on adjoining Red Square next Tuesday.

“Russia reserves the right to take retaliatory measures where and when it sees fit,” the Kremlin said.

Ukrainian officials declined to comment. “We do not have such information,” said a spokesperson for Ukraine’s armed forces, describing the Russian claims as “political statements”.

If confirmed, the apparent attempt on Putin’s life would be one of Kyiv’s most daring strikes since Russia launched its full-scale invasion in February 2022 and a glaring indication of how Moscow’s war effort is continuing to sputter.

Russia initially hoped to capture Kyiv in a blitzkrieg in a matter of days, but has found itself bogged down in grinding attritional warfare, suffered a series of humiliating battlefield defeats and faced increasingly audacious Ukrainian strikes behind enemy lines.

In recent months, Ukraine has carried out a series of drone attacks on fuel depots and military bases, some of which were several hundred kilometres into Russian territory.

Earlier this year, pictures emerged of two Pantsir air defence systems in the Kremlin, as well as others at the defence ministry’s nearby headquarters in Moscow. Russia also installed Pantsirs at Putin’s official home outside Moscow, a bucolic residence in northern Russia, and a ski resort near the Black Sea where he spends time, according to Russian independent media.

Though it was not immediately clear whether the alleged attack happened, pro-Kremlin accounts on social media posted footage of what appeared to be a drone flying low over Putin’s residence, then exploding in a ball of flames. Other videos showed what appeared to be anti-aircraft fire over the Kremlin’s golden-domed medieval churches late at night.

Putin worked according to schedule on Wednesday. No casualties or damage were sustained during the alleged attack, the Kremlin said.

Ruslan Pukhov, director of the Center for Analysis of Strategies and Technologies, a Moscow defence think-tank, said the drones could probably have been purchased commercially and outfitted with explosives.

A Ukrainian group working underground in Russia could have launched the drones from somewhere near Moscow, Pukhov said, thus allowing them to evade detection over the 800km distance from the front lines. The small number of drones used probably indicated a partisan effort rather than a broader attack, he added.

Ukraine also has the capability to fly a drone all the way to Moscow, according to a Ukrainian engineer who builds drones to military specs.

“It’s not difficult to build a drone with an 800km range, aiming it is the difficult task,” he said.

As for the apparent failure of Russian air defences to stop the drones, he added: “During the day anti-aircraft systems use optical sights, so hitting a drone is easy, but at night they are not easy targets.”

(BN) Big Hedge Funds Face New 72-Hour Deadline to Report Major Losses

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