The Verge : Amazon’s annual product launch marathon is happening September 28th

Amazon’s annual product launch marathon is happening September 28th

Amazon is holding an event next week to announce new devices, features, and services. The fully virtual event will kick off at 9AM PT / 12PM ET on September 28th and is expected to include the usual deluge of Amazon devices announcements just in time for fall. Amazon confirmed the event in an email invitation to The Verge today.

It’s reasonable to assume there will be new Echo devices, new Ring products or services, and perhaps some surprises, too. Last year’s Amazon fall devices event was chock-full of news, including its new Astro home robot, the Echo Show 15, a Fibit-like fitness tracker, and even a new smart thermostat.

There haven’t been any substantial rumors about what to expect from Amazon this year, but as it has been two years since the last main Echo update, it’s possible the company could opt to refresh or update the device this year. Despite Amazon announcing it’s acquiring Roomba robot vacuum maker iRobot earlier this year, that deal hasn’t closed yet so we probably won’t be hearing anything more about any potential iRobot and Amazon integration.

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Either way, stay tuned to The Verge on September 28th as we’ll be covering all the news from Amazon’s annual product launch marathon live as it happens.

>>> US Research Calls

Research Calls

  • Upgrades:
    • America Movil SA (AMX) upgraded to Buy from Neutral at UBS; tgt lowered to $20.40
    • Humana (HUM) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $549
    • Martin Marietta (MLM) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $407
    • Morningstar (MORN) upgraded to Buy from Neutral at Redburn
    • Norwegian Cruise Line (NCLH) upgraded to Buy from Hold at Truist; tgt raised to $19
    • SSE (SSEZY) upgraded to Overweight from Neutral at JP Morgan
  • Downgrades:
    • Adyen (ADYYF) downgraded to Hold from Buy at HSBC Securities
    • AENA (ANNSF) downgraded to Underweight from Equal Weight at Barclays
    • Air China (AIRYY) downgraded to Reduce from Hold at HSBC Securities
    • CEMEX S.A. (CX) downgraded to Neutral from Outperform at Exane BNP Paribas; tgt $4
    • Change Healthcare (CHNG) downgraded to Neutral from Buy at Citigroup; tgt $27.75
    • Change Healthcare (CHNG) downgraded to Neutral from Overweight at Piper Sandler; tgt raised to $27.75
    • China Southern Airlines (ZNH) downgraded to Hold from Buy at HSBC Securities
    • Huntsman (HUN) downgraded to Equal Weight from Overweight at Wells Fargo; tgt lowered to $28
    • NIKE (NKE) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $110
    • Ocado (OCDGF) downgraded to Reduce from Hold at HSBC Securities
    • PayPal (PYPL) downgraded to Neutral from Positive at Susquehanna; tgt lowered to $100
    • Telenet Group (TLGHY) downgraded to Neutral from Outperform at Credit Suisse
    • Western Digital (WDC) downgraded to Hold from Buy at Deutsche Bank; tgt lowered to $40
    • Weyerhaeuser (WY) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $34
  • Others:
    • Alnylam Pharma (ALNY) placed on Upside Catalyst Watch at Citigroup
    • Ascendis Pharma (ASND) placed on Focus List at Citigroup
    • Black Stone Minerals (BSM) initiated with an Overweight at KeyBanc Capital Markets; tgt $22
    • Brigham Minerals (MNRL) initiated with a Sector Weight at KeyBanc Capital Markets
    • Callon Petroleum (CPE) initiated with a Sector Weight at KeyBanc Capital Markets
    • Cepton (CPTN) initiated with a Neutral at JP Morgan
    • Corebridge Financial (CRBG) initiated with an Outperform at Autonomous Research; tgt $26
    • Civitas Resources (CIVI) initiated with an Overweight at KeyBanc Capital Markets; tgt $80
    • Comstock (CRK) initiated with an Overweight at KeyBanc Capital Markets; tgt $26
    • Denbury (DEN) initiated with an Overweight at KeyBanc Capital Markets; tgt $102
    • Diamondback Energy (FANG) initiated with an Overweight at KeyBanc Capital Markets; tgt $163
    • EOG Resources (EOG) initiated with an Overweight at KeyBanc Capital Markets; tgt $157
    • Enovix (ENVX) assumed with an Overweight at Piper Sandler; tgt $29
    • Focus Financial (FOCS) initiated with an Underweight at Morgan Stanley; tgt $37
    • Gogoro (GGR) initiated with an Underweight at JP Morgan; tgt $4.30
    • Gulfport Energy (GPOR) initiated with a Sector Weight at KeyBanc Capital Markets
    • Innoviz Technologies (INVZ) initiated with an Overweight at JP Morgan; tgt $22
    • Ionis Pharma (IONS) removed from Focus List at Citigroup
    • Kimbell Royalty Partners (KRP) initiated with a Sector Weight at KeyBanc Capital Markets
    • Lithium Americas (LAC) assumed with an Overweight at Piper Sandler; tgt $38
    • Livent (LTHM) assumed with an Overweight at Piper Sandler; tgt $42
    • LiveRamp (RAMP) initiated with a Hold at The Benchmark Company
    • Luminar Technologies (LAZR) initiated with an Overweight at JP Morgan; tgt $30
    • Magnolia Oil & Gas (MGY) initiated with an Overweight at KeyBanc Capital Markets; tgt $28
    • Matador Resources (MTDR) initiated with an Overweight at KeyBanc Capital Markets; tgt $72
    • PDC Energy (PDCE) initiated with a Sector Weight at KeyBanc Capital Markets
    • Pioneer Natural Resources (PXD) initiated with an Overweight at KeyBanc Capital Markets; tgt $290
    • Provention Bio (PRVB) initiated with a Buy at Jefferies; tgt $10
    • SilverBow Resources (SBOW) initiated with an Overweight at KeyBanc Capital Markets; tgt $58
    • SM Energy (SM) initiated with an Overweight at KeyBanc Capital Markets; tgt $64
    • Velodyne Lidar (VLDR) initiated with an Underweight at JP Morgan
    • Viper Energy Partners (VNOM) initiated with an Overweight at KeyBanc Capital Markets; tgt $39
    • Vista Outdoor (VSTO) initiated with a Hold at Jefferies; tgt $26
    • Ziff Davis (ZD) initiated with an Outperform at Evercore ISI; tgt $90

>>> US Gapping down

Gapping down
In reaction to earnings/guidance:

  • F -4.8% (reaffirms FY22 EBIT but inflation-related supplier costs to run $1 bln higher than expected)

Other news:

  • NVTA -4.2% (reports real-world ciitizen data utilized in Praxis Precision Medicines' PRAX-222 IND Filing)
  • COIN -0.8% (announces new fee structures)

Analyst comments:

  • WY -2.3% (downgraded to Neutral from Buy at BofA Securities)
  • WDC -1.5% (downgraded to Hold from Buy at Deutsche Bank)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance:

  • CGNX +5.4%, APOG +1.7%

Other news:

  • ROIV +12.3% (files $1 bln mixed securities shelf offering)
  • PPTA +6.1% (receives DOD funding to study antimony from Stibnite Gold Project)
  • STN +4.7% (awarded $16 mln feasibility study for Resolution Copper)
  • SOUN +4.3% (stock offering by selling shareholders)
  • OUST +2.6% (announced a comprehensive cost reduction initiative across its business streamlining its cost structure and extending its expected cash runway)
  • DBTX +2.3% (submission of an Investigational New Drug application for a Phase 1/2 clinical trial in pediatric patients of DB-OTO)
  • BA +2.2% (met with regulators in China about returning 737 Max to flight according to Reuters)
  • WVE +2.1% (update to the ongoing Phase 1b/2a SELECT-HD clinical trial of WVE-003 the company's clinical candidate for Huntington's disease)
  • PTON +1.6% (releases Peloton Row)
  • AMX +1% (informs about the listing of Sitios Latinoamérica S.A.B. de C.V. incorporated as result of AMX's spin-off (Sitios Latam); also upgraded to Buy from Neutral at UBS)
  • CLPT +0.9% (obtains 510k clearance)

>>> Europe : Brokers Upgrades & Downgrades - 20th of September 2022 V3(+)

>>> Up
* ADP Raised to Equal-Weight at Barclays; PT 136 euros
* Deutsche Boerse Raised to Outperform at Credit Suisse (+)
* EDP Raised to Overweight at Barclays; PT 5.90 euros
* Endesa Raised to Overweight at Barclays; PT 22.10 euros
* Fraport Raised to Overweight at Barclays; PT 56 euros
* Henry Boot Raised to Buy at Numis; PT 335 pence (+)
* Jumbo Raised to Buy at Eurobank Equities; PT 17.20 euros (+)
* Jungheinrich Raised to Outperform at Oddo BHF; PT 35 euros
* SEB Raised to Buy at DNB Markets; PT 134 kronor
* Wizz Air Raised to Neutral at Oddo BHF; PT 2,500 pence (+)

>>> Down
* Acciona Energia Cut to Neutral at Grupo Santander (+)
* Acciona Cut to Neutral at Grupo Santander; PT 214.15 euros (+)
* Adyen Cut to Hold at HSBC; PT 1,500 euros
* Aena Cut to Underweight at Barclays; PT 115 euros
* Coloplast Cut to Hold at Jefferies; PT 880 kroner
* Compleo Cut to Sell at M.M. Warburg (+)
* Euronext Cut to Neutral at Credit Suisse; PT 77 euros (+)
* Ocado Cut to Reduce at HSBC; PT 575 pence
* Pandora Cut to Sell at Nordea; PT 300 kroner
* Publicis Cut to Neutral at Oddo BHF (+)
* WPP Raised to Outperform at Oddo BHF (+)
* Zurich Airport Cut to Equal-Weight at Barclays

>>> Initiation
* Securitas Resumed Buy at Nordea; PT 87 kronor (+)

>>> Call
* Bernstein Strategists See EU Industrial Output Hit by Gas Curbs (+)
* Coloplast Cut to Hold as Jefferies Sees Inflation, China Risks
* Europe Value Stocks’ Gap to Growth Excellent Once Again: Goldman
* Goldman Says Stay Defensive on Road Toward Peak Hawkishness
* Kingfisher Showing ‘Good Resilience,’ Outlook Conservative: RBC (+)