>>> US Gapping up

Gapping up
In reaction to earnings/guidance:

  • UPST +37.4%, LZ +13.8%, CARG +11.2%, CELH +10.6%, FLYW +10%, TBLA +8.8%, SYNH +8.8%, MNKD +8.2%, IAC +8.1%, EXAS +8%, RIVN +7.7% (also files mixed shelf securities offering), EVRI +7.7%, WWW +7%, NABL +7%, KIND +6.8%, RNG +6.6%, LPSN +6.4%, GH +6.3%, LI +6.3%, GO +6.1%, COMP +6.1%, ALC +5.6%, PUBM +5.6%, LNW +5.3%, AKAM +5.2% (also announces 3% workforce reduction), TOST +5.1%, VVV +5%, SUPN +4.8%, PRIM +4.5%, XMTR +4.4%, ZD +3.9%, NTRA +3.7%, DUOL +3.5%, BAM +3.5%, EA +3.3%, MODN +3.3%, SHCR +3.3%, HALO +3.2%, OSCR +3.1%, VVX +3.1%, VTLE +2.9%, DAR +2.9%, QTWO +2.7%, NHI +2.6%, MIDD +2.6%, OLO +2.5%, CLBT +2.2%, CTOS +2.1%, PETQ +2%, AGTI +2%, DIOD +2%, LPRO +2%, KGC +1.9%, CE +1.8%, CDRE +1.8%, TM +1.7%, IOVA +1.6%, ONL +1.6%, DIBS +1.4%, BCO +1.4%, APPN +1.1%, TWNK +1.1% (also authorizes new $150 mln share repurchase program), XENE +1.1%, LFST +1.1%, VZIO +1%

Other news:

  • CTIC +84% (to be acquired by Sobi for $9.10 per share)
  • SYNH +8.8% (confirms acquisition by consortium including Elliott Investment Management for $43/share)
  • PLX +7.9% (Chiesi Global Rare Diseases and PLX announce the FDA has approved ELFABRIO (pegunigalsidase alfa-iwxj) for the treatment of adult patients with Fabry disease)
  • BEN +4% (reports April AUM)
  • TBPH +2.8% (FDA grants orphan drug designation for Ampreloxetine)
  • BWEN +1.3% (Sends Letter to Shareholders Clarifying Attempts by WM Argyle to Mislead Shareholders)
  • W +1.2% (announces the pricing of $600 mln aggregate principal amount of 3.50% convertible senior notes due 2028 in a private offering)
  • ALVO +1% (enters into commercialization agreement with Polifarma for proposed biosimilar to Eylea)

Analyst comments:

  • IDCC +3.1% (upgraded to Buy from Neutral at BofA Securities)

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • CTIC +84.2%, UPST +32.6%, PLX +16.8%, SYNH +12%, CARG +11.2%, CELH +10.5%, FLYW +10%, RNG +9.7%, IAC +9%, LZ +8.6%, LPSN +8.3%, EXAS +8.2%, VZIO +7.1%, KIND +6.8%, RIVN +6.3%, GH +6.3%, GO +6.1%, LI +6.1%, ALC +5.8%, TOST +5.4%, LNW +5.3%, LPRO +5%, HALO +5%, AKAM +4.8%, SUPN +4.8%, MNKD +4.7%, PRIM +4.5%, BEN +4%, ZD +3.9%, EVRI +3.8%, NTRA +3.7%, PETQ +3.4%, EDR +3.3%, MODN +3.3%, VVX +3.1%, VTLE +2.9%, DAR +2.9%, RKLB +2.8%, TBPH +2.8%, QTWO +2.7%, NHI +2.6%, OLO +2.5%, CTOS +2.1%, AGTI +2%, HLI +2%, DIOD +2%, EA +2%, CE +1.9%, CDRE +1.8%, ONL +1.6%, DUOL +1.6%, BWEN +1.3%, CAMT +1.2%, APPN +1.1%, TWNK +1.1%, XENE +1.1%, LFST +1.1%, ALVO +1%, IOVA +1%, IVZ +0.9%, KGC +0.9%, ANGI +0.8%, RMBL +0.7%
  • Gapping down:
    • AMPL -18.7%, CUTR -17.4%, TWLO -16.6%, JXN -14.6%, ABNB -13.9%, IAS -12.9%, NVTA -12.4%, COHR -12.2%, TTGT -10%, RVNC -9.2%, SILK -9.1%, HRB -8.3%, AFRM -8.1%, BROS -7.6%, EBS -6.9%, ZIP -6.6%, RUM -6.5%, STR -6.4%, GDRX -6.4%, EVCM -6%, MODG -5.6%, ARRY -5.6%, CLNE -5.5%, ICHR -5.4%, MQ -5.2%, BLUE -4.7%, BBAI -4.7%, WTI -4.7%, EXFY -4.3%, VRDN -4.2%, FA -4%, AGL -3.9%, RXT -3.7%, EOLS -3.4%, SPCE -3.4%, OSCR -3.4%, ORA -3.2%, LTHM -3.1%, LAZR -2.8%, IRBT -2.3%, LNC -2.2%, HCAT -2.1%, APAM -2%, NEXT -2%, VTEX -1.9%, MASI -1.8%, RPD -1.7%, MRTX -1.7%, OXY -1.6%, BLNK -1.5%, HRT -1.5%, FOXA -1.4%, TSM -1.4%, BGNE -1.3%, ESE -1.3%, AB -1%, EGY -1%

>>> Europe : Brokers Upgrades & Downgrades - 10th of May 2023 V2(+)

>>> Up
* AIB Group Raised to Add at AlphaValue/Baader
* Alcon Raised to Outperform at Baird; PT 80.24 Swiss francs
* Bakkafrost Raised to Buy at Fearnley; PT 820 kroner (+)
* Cambi Raised to Buy at DNB Markets; PT 12 kroner
* FinecoBank Raised to Neutral at Mediobanca SpA; PT 13 euros
* Grifols Raised to Buy at Alantra Equities; PT 12.92 euros
* Grifols ADRs Raised to Buy at Alantra Equities; PT $14.21
* Orkla Raised to Buy at SEB Equities; PT 91 kroner
* Orkla Raised to Buy at Carnegie; PT 95 kroner (+)
* SBB Raised to Buy at Arctic Securities; PT 10 kronor
* Stora Enso Raised to Outperform at Davy; PT 14 euros (+)

>>> Down
* AB InBev Cut to Hold at HSBC; PT 66 euros
* Eezy Cut to Reduce at Inderes; PT 3.70 euros
* Geberit Cut to Hold at Stifel; PT 530 Swiss francs
* Idorsia Cut to Reduce at Baader Helvea; PT 8.40 Swiss francs
* INWIT Cut to Neutral at Mediobanca SpA; PT 13 euros
* Neinor Cut to Neutral at Oddo BHF; PT 10 euros (+)
* Nikola Cut to Market Perform at Cowen; PT $1

>>> Initiation
* Gubra Rated New Buy at SEB Equities; PT 145 kroner

>>> Call
* Ahold 1Q Beat Estimates Despite Belgium Strikes: Bernstein (+)
* Credit Agricole Earnings Decent with Stronger Capital : KBW (+)
* Idorsia Cut to Reduce at Baader Helvea After Weak Start to Year
* Pictet Says Don’t Rush Back to Stocks as Cash Yields are High
* TUI Ebit in Line, Summer Bookings Encouraging, Jefferies Says (+)

>>> Stoxx 600 Pre-Market Indications

  • Evotec SE (EVT TH) +4.2%
    • *EVOTEC TO GET ‘DOUBLE-DIGIT-MILLION’ UPFRONT, $640M MILESTONES
  • ABN Amro (AB2 TH) +2.7%
    • ABN Amro Profit Beats Estimates as Lending Income Increases
  • Credit Agricole (XCA TH) +2.3%
    • Credit Agricole Trading Soars in Record Investment Bank Quarter
  • Mowi (PND TH) +1.4%
    • Largest Salmon Farmer Slams Norway Tax Plan, Posts Record Profit
  • Rio Tinto (RIO1 TH) +0.9%
  • Carl Zeiss Meditec (AFX TH) +0.9%
  • Equinor (DNQ TH) +0.8%
  • Novo Nordisk (NOVC TH) +0.6%
  • BAT (BMT TH) +0.6%
  • Vestas (VWSB TH) -0.4%
    • Vestas 1Q Ebit Before Significant Items Beats Estimates
  • Sartorius (SRT3 TH) -0.6%
  • TotalEnergies (TOTB TH) -0.6%
    • Barclays Analysts Face Call to Retract Report on Africa Pipeline
  • Delivery Hero (DHER TH) -0.7%
  • Telefonica Deutschland (O2D TH) -0.7%
    • Telefonica Deutschland 1Q Adjusted Oibda Meets Estimates
  • Lanxess (LXS TH) -1.6%
    • Lanxess Sees FY Adjusted Ebitda EU850M to EU950M, Est. EU903.5M
  • Alstom (AOMD TH) -1.7%
    • Alstom FY Adjusted Ebit Misses Estimates
  • Siemens Healthineers (SHL TH) -3.4%
    • Siemens Healthineers 2Q Adj. Ebit Misses Estimates
  • TUI (TUI1 TH) -3.5%
    • TUI Points to Strong Bookings for Summer Amid Travel Recovery