After Hours Summary: Busy earnings night; SPT -14.2%, AMD -6.3%, SBUX -4.8%, HLF -4.3%, F -2% lower on earnings; SMCI +8.7%, LTHM +8%, ARWR +6.6%, LUMN +5.8% higher on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: SMCI +8.7%, LTHM +8%, ARWR +6.6%, LUMN +5.8%, CWH +5.4%, LFUS +4.8%, PRO +4.6%, ASH +4.2%, BAND +3.9%, WU +3.6%, BFAM +3%, PAYC +2.4% (also initates dividend), LMAT +2.3%, UNM +2.2%, OKE +2%, LNC +2% (also enters into $28 bln reinsurance transaction with Fortitude Re), MCW +1.9%, ATGE +1.6%, MTW +1.6%, MUSA +1.4% (also authorizes new $1.5 bln share repurchase program), MTCH +1.3%, APAM +1%, CZR +0.9%, RNR +0.6%, ET +0.5%, FNV +0.4%, CHK +0.2%, KAI +0.2%, SPG +0.2% (also increases dividend), EXR +0.1%, THG +0.1%, GPOR +0.1%
Companies trading higher in after hours in reaction to news: COCO +2.3% (files for $200 mln mixed securities shelf offering; also files for offering by selling shareholders), KKR +2.1% (to acquire CoolIT Systems), FTI +2% (awarded a large contract by XOM affiliate), INTC +1.9% (in sympathy with AMD earnings), MYRG +0.4% (authorizes new $75 mln share repurchase program), MARA +0.2% (announces April bitcoin production), WTS +0.1% (increases dividend)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: SPT -14.2% (also announces continued strategic partnership with Twitter), ANDE -13.4%, MRCY -9.5%, AMD -6.3%, SBUX -4.8%, HLF -4.3% (also names new COO and other changes), WK -2.7%, ENLC -2.7%, AXTA -2.5%, PEN -2.5%, VOYA -2.4%, AFG -2.2% (also AFG will purchase Crop Risk Services from AIG), PACB -2.2%, SRPT -2.2%, F -2%, OHI -1.8%, PRU -1.8%, VIAV -1.5%, CCCS -1%, CRK -0.9%, HURN -0.6%, AMCR -0.6%, CLX -0.4%, UIS -0.3%, EXPI -0.2%, AIZ -0.1%, MLNK -0.1%, WELL -0.1% (also issues business update), XHR -0.1%, AROC -0.1%
Companies trading lower in after hours in reaction to news: MORF -3.1% (stock offering), NVDA -1.4% (in sympathy with AMD earnings), LMT -0.4% (awarded a $1.44 bln US Navy contract)
Gapping down
In reaction to earnings/guidance:
- CHGG -43.2%, ETWO -24.4%, TREE -19.9%, CYH -13.6%, ANET -9.2%, CACC -6.8%, CNO -6.3%, ZBRA -6.3%, BP -5.2%, DD -4.9%, SCI -3.8%, SYK -3.7%, CAR -3.4%, RGEN -3.2%, ADUS -3.1%, BRX -3.1%, RE -3%, FMC -3%, FWRD -2.5%, INMD -2.4%, AXNX -2.3%, MED -2%, FANG -2%, KIDS -1.9%, TRTN -1.9%, INCY -1.8%, RMBS -1.7%, OGS -1.7%, SYM -1.6%, MDC -1.6%, RYTM -1.6%, LDOS -1.4%, TRI -1.3%, VRTX -1.2%, AQUA -1.2%, JJSF -1%, LGIH -1%, BSM -0.9%, HOLX -0.8%, MGM -0.8%
Other news:
- TVTX -23.7% (topline primary efficacy results from Phase 3 DUPLEX study)
- ADSE -5.3% (delaying filing 20-F)
- ACT -3% (increases dividend)
- MLTX -2.9% (files mixed shelf)
Analyst comments:
- SHLS -4.3% (downgraded to Underweight from Equal Weight at Barclays)
- SOFI -3.7% (downgraded to Neutral from Outperform at Wedbush)
- CPRI -2.1% (downgraded to Equal Weight from Overweight at Barclays)
- COIN -1.5% (downgraded to Neutral from Buy at Citigroup)
- DGX -1.4% (downgraded to Neutral from Buy at BofA Securities)
- CHKP -1.1% (downgraded to Neutral from Buy at BTIG Research)
- WD -1.1% (downgraded to Mkt Perform from Mkt Outperform at JMP Securities)
Gapping up
In reaction to earnings/guidance:
- WWD +16.1%, SIBN +10.6%, SFM +10.2%, UBER +8.1%, HSBC +5.8%, FLS +5.2%, PDM +5%, NXPI +4.7%, TEX +4.6%, AER +4.4%, ZI +3.6%, ZBH +3.4%, HWM +3.1%, AMRC +2.8%, OTTR +2.7%, GPK +2.7%, ESAB +2.6%, VNOM +2.2%, LOGI +2.1%, MSTR +2%, LEG +2%, CRC +2%, KNSA +1.9%, LSCC +1.8%, ETRN +1.8%, INVH +1.7%, SAGE +1.7%, DEA +1.6%, STNG +1.6%, LNG +1.6%, TMDX +1.5%, AME +1.5%, MAR +1.5%, CEIX +1.4%, PEG +1.3%, HRMY +1.3%, QSR +1.2%, PFE +1.2%, ARLP +1%, TROW +0.9%, TAP +0.9%, CMI +0.9%, AIRC +0.8%, ABC +0.8%
Other news:
- IMTX +27.7% (announces an interim clinical data update for 11 patients with recurrent and/or refractory solid cancers treated with ACTengine IMA203 TCR-T monotherapy in the ongoing Phase 1b dose expansion Cohort A)
- APYX +8.1% (receives clearance from the U.S. FDA for the use of its APR Handpiece in procedures for coagulation of soft tissues following liposuction)
- STAG +7.3% (replacing AXON in MidCap 400)
- BB +6.4% (considering strategic alternatives for its businesses)
- BOC +2.9% (increases ownership to 100% in 24th Street Asset Management)
- CIFR +1.9% (announces April 2023 production)
- WTRG +1.6% (subsidiary acquires wastewater system)
- EDIT +1.6% (study of SLEEK published)
Analyst comments:
- VSEC +4.9% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)
- PENN +3.1% (upgraded to Buy from Neutral at ROTH MKM)
- DELL +2.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- HPQ +1.5% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- NLY +1.1% (upgraded to Overweight from Neutral at Piper Sandler)
>>> Up
* Aker BioMarine ASA Raised to Buy at DNB Markets; PT 45 kroner
* Atlas Copco Raised to Reduce at AlphaValue/Baader
* Bioretec Raised to Accumulate at Inderes; PT 2.70 euros
* Deutsche Bank Raised to Hold at Bankhaus Metzler; PT 10.40 euros (+)
* Electrolux Raised to Buy at SEB Equities; PT 190 kronor
* Epiroc Raised to Hold at Pareto Securities; PT 205 kronor (+)
* Kambi Raised to Hold at Pareto Securities; PT 175 kronor (+)
* Kitron Raised to Buy at Arctic Securities; PT 52 kroner
* Manitowoc Co Raised to Equal-Weight at Wells Fargo; PT $17
* Pexip Raised to Buy at Pareto Securities; PT 30 kroner (+)
* Raute Raised to Accumulate at Inderes; PT 12 euros
* RBG Holdings PLC Raised to Buy at Stifel; PT 70 pence (+)
* Rightmove Raised to Buy at HSBC; PT 645 pence
* Rockwool Raised to Buy at Jyske Bank; PT 1,920 kroner (+)
* Sanoma Raised to Accumulate at Inderes; PT 8.50 euros
* SCA Raised to Buy at Handelsbanken
* Schibsted Raised to Buy at Nordea; PT 260 kroner
* SGL Raised to Buy at Deutsche Bank; PT 13 euros
* SGS Raised to Outperform at RBC; PT 90 Swiss francs
* Stora Enso Raised to Overweight at JPMorgan; PT 12.60 euros
* SwedenCare Raised to Buy at Handelsbanken
* Terveystalo Raised to Buy at SEB Equities; PT 9.20 euros
* Terveystalo Raised to Buy at Inderes; PT 9 euros
* Tobii Dynavox Raised to Buy at ABG; PT 35 kronor
* Tomra Raised to Hold at ABG; PT 160 kroner
* Tomra Raised to Hold at Carnegie; PT 154 kroner (+)
* UPM-Kymmene Raised to Overweight at JPMorgan; PT 32.20 euros
>>> Down
* Bpost Cut to Reduce at KBC Securities; PT 4 euros (+)
* Evolution Cut to Neutral at Citi
* Exxon Cut to Neutral at Goldman; PT $125
* JTC PLC Cut to Hold at Shore Capital (+)
* Lemonsoft Cut to Reduce at Inderes; PT 7.70 euros
* ProSieben Cut to Neutral at BNPP Exane; PT 9 euros (+)
* QT Group Cut to Reduce at Inderes; PT 78 euros
* Tomra Cut to Sell at Nordea; PT 136 kroner
* Sanofi Cut to Sell at Deutsche Bank; PT 90 euros
>>> Initiation
* Believe Rated New Buy at Stifel; PT 18.50 euros
* Ence Reinstated Sponsored at BNPP Exane
* Ferrari Rated New Equal-Weight at Barclays; PT $274.73 (+)
* J M Smucker Reinstated Equal-Weight at Barclays (+)
* Linde Rated New Outperform at BNPP Exane; PT $398
* SGS Rated New Outperform at Credit Suisse; PT 100 Swiss francs
>>> call
* Dell Tech and HP Inc. Upgraded at Morgan Stanley on PC Rebound
* DSM’s 1Q Adj. Ebitda Misses Jefferies’ Estimate on Destocking (+)
* Evolution Downgraded to Neutral at Citi on Limited Upside
* SGL Carbon Raised to Buy at Deutsche Bank Post-Restructuring (+)
* SGS Upgraded at RBC, While Credit Suisse Initiates at Outperform (+)
- Rubis (BYN TH) +2.7%
- HSBC (HBC1 TH) +2.3%
- HSBC Announces $2 Billion Buyback After Strong Profit Beat (1)
- BT (BTQ TH) +1.8%
- ASR Nederland (A16 TH) +1.7%
- Glencore (8GC TH) +1.6%
- Watch Copper-Tied Stocks in Europe as Metal Gains on GS Report
- Reckitt (3RB TH) +1.5%
- Ahold Delhaize (AHOG TH) +1.5%
- Ahold Delhaize Nominates New CFO
- Anglo American (NGLB TH) +1.3%
- Rio Tinto (RIO1 TH) +1.2%
- Watch Copper-Tied Stocks in Europe as Metal Gains on GS Report
- Air France-KLM (AFR TH) +1.1%
- Zalando (ZAL TH) -0.9%
- ChatGPT Legal Issues Emerge —- As more businesses adopt the AI tech, scrutiny grows into data privacy, security
- Renault (RNL TH) -0.9%
- News 18: Renault Kiger RXT (O) Trim Gets New Features, Priced at Rs 7.99 Lakh in India
- Vodafone (VODI TH) -1.1%
- Shell (R6C0 TH) -1.2%
- BP Slows Pace of Share Buybacks as First-Quarter Profit Dips
- Orange (FTE TH) -1.3%
- TotalEnergies (TOTB TH) -1.7%
- France’s TotalEnergies to Buy LNG from UAE Under $1 Billion Deal
- Sabadell (BDSB TH) -2.1%
- Sanofi (SNW TH) -2.1%
- AMS-Osram (DQW1 TH) -6.9%
- AMS-Osram 2Q Revenue Forecast Misses Estimates
DAX:
- Infineon (IFX TH) +1.3%
- Bernstein Intl Strategic Equities Adds Infineon, Exits MUFG
- Mercedes (MBG TH) +1%
- Vonovia (VNA TH) +0.7%
- VW (VOW3 TH) +0.6%
- Commerzbank (CBK TH) -0.5%
- Merck KGaA (MRK TH) -0.6%
MDAX:
- Adtran Holdings (QH9 TH) +2.8%
- United Internet (UTDI TH) +0.8%
- TAG Immobilien (TEG TH) +0.6%
- Evotec SE (EVT TH) +0.6%
- Puma (PUM TH) +0.5%
- Lufthansa (LHA TH) -0.5%
- Telefonica Deutschland (O2D TH) -0.5%
- ProSieben (PSM TH) -1.8%
- Stabilus (STM TH) -2.3%
- Stabilus 2Q Adjusted Ebit Meets Estimates
SDAX:
- SGL (SGL TH) +3.4%
- SGL Raised to Buy at Deutsche Bank; PT 13 euros
- Software AG (SOW TH) +3%
- Florida SBA Backs Software AG on 6 of 8 Proposals at May 17 AGM
- Zeal Network (TIMA TH) +2.4%
- Shop Apotheke (SAE TH) +2.3%
- Shop Apotheke 1Q Adjusted Ebitda EU8.76M Vs. Loss EU4.28M Y/y
- PNE AG (PNE3 TH) +1.8%
- Heidelberger Druck (HDD TH) -0.9%
- Hochtief (HOT TH) -0.9%
- Bilfinger (GBF TH) -1.3%
- Energiekontor (EKT TH) -1.4%
- Varta (VAR1 TH) -1.5%