>>> Europe : Brokers Upgrades & Downgrades - 26th of April 2022 V2(+)

>>> Up
* Aiforia Technologies Raised to Reduce at Inderes; PT 4 euros
* LEG Immobilien Raised to Buy at Baader Helvea; PT 93 euros
* Salmar Raised to Buy at Pareto Securities; PT 740 kroner

>>> Down
* Continental Cut to Sell at Bankhaus Metzler; PT 50 euros (+)
* Getlink Cut to Sell at SocGen; PT 18.30 euros (+)
* Ina Invest Holding Cut to Reduce at Baader Helvea
* Merus Power Cut to Reduce at Inderes; PT 7.20 euros
* Vincit Cut to Accumulate at Inderes; PT 6.40 euros
* Wallstreet:Online Cut to Hold at Bankhaus Metzler; PT 12 euros (+)

>>> Initiation
* Interpublic Rated New Outperform at Exane; PT $36

>>> Call
* Florida Zantac Ruling Positive for GSK, Sanofi, Haleon: Citi
* Heineken, Carlsberg Most At-Risk Brewers From CO2 Shortage: RBC

WSJ : Tesla Supplier Panasonic Plans Additional $4 Billion EV Battery Plant in U

Tesla Supplier Panasonic Plans Additional $4 Billion EV Battery Plant in U.S.
Oklahoma is top contender for new site after Kansas won earlier investment

TOKYO— Panasonic Holdings Corp. PCRFY -0.24% , a supplier to electric-vehicle maker Tesla Inc., TSLA -0.35% is in discussions to build an additional roughly $4 billion EV battery plant in the U.S., according to people familiar with the matter.

The Japanese company is looking at Oklahoma as the location for its new plant, though there are no guarantees that an agreement will be reached, the people said.

EV makers including Tesla are boosting production volume and demanding more batteries from suppliers as they try to reduce long wait times for many popular EV models. Panasonic already jointly operates a battery factory in Nevada with Tesla.

The new Panasonic plant would come in addition to a roughly $4 billion EV battery factory that the Japanese company said in July it plans to build in Kansas. People with knowledge of Panasonic’s plans described the two plants as twins with similar capacity.

A spokeswoman for Oklahoma Gov. Kevin Stitt declined to comment.

In April, Tesla started delivering vehicles from its new EV factory in the Austin, Texas, area. Kansas and Oklahoma would be convenient locations for supplying the Tesla plant in Texas. In addition, EV startup Canoo Inc., which last year unveiled a supply deal with Panasonic, has said it plans to build a plant in Oklahoma.

Panasonic has said one of its priorities for the U.S. is commercializing a new type of lithium-ion battery touted by Tesla Chief Executive Elon Musk as “the world’s most advanced cell.”

Cylindrical 4680 batteries—named for their 46-millimeter diameter and 80-millimeter height—are larger and more powerful than other batteries Panasonic currently supplies to Tesla. Panasonic and Tesla say the technology could improve the overall economics of EVs.

Panasonic’s rivals are also opening new U.S. factories. General Motors Co. is planning a $2.6 billion battery plant in Lansing, Mich., with South Korean partner LG Energy Solution Ltd.

Contemporary Amperex Technology Co. , China’s top EV battery maker, was aiming to announce a plan for a plant in North America as early as this month, though the announcement was put on hold after recent U.S.-China tensions.

Kansas and Oklahoma both put together incentive packages aimed at luring Panasonic’s investment and the jobs that would come with it.

In April, the Oklahoma state Senate approved a bill that would grant up to $698 million in rebates and incentives to a big manufacturing facility operated by a company it didn’t name.

“This effort is aimed at attracting a company that will invest a minimum of $3.6 billion and create at least 4,000 new jobs within five years,” Senate Appropriations Committee Chairman Roger Thompson said in a statement at the time.

Gov. Stitt said it would be “one of the largest factories in the entire country, just a humongous, humongous factory.”

FT : Saudi Arabia sends message to Biden on oil

Saudi Arabia sends message to Biden on oil
Fears of more Iranian supply and weakening economy prompt rethink in Riyadh

Saudi Arabia this week warned that it could lead Opec+ in cutting oil production, a message apparently aimed at skittish traders. But the kingdom also had another audience in mind: the Biden administration as it prepares to revive a nuclear deal with Iran.

Saudi energy minister Prince Abdulaziz bin Salman was careful not to mention the kingdom’s regional rival, focusing instead on “volatility” in a market where prices had slid by $25 a barrel since early June.

People familiar with the kingdom’s thinking say Riyadh’s sudden intervention, which has boosted oil prices back above $100 a barrel, was motivated in part by a desire to make clear to the US the consequences of allowing Iranian oil back into global markets.

President Joe Biden has pushed Saudi Arabia to raise oil production following Russia’s invasion of Ukraine, culminating in a trip to Jeddah in July that the kingdom hoped would help reset the relationship with Crown Prince Mohammed bin Salman following the murder of journalist Jamal Khashoggi four years ago.

But a little more than a month on, the potential revival of the Iran nuclear deal — and with it the return of Iranian oil to the market — have Saudi Arabia worried about further drops in the oil price and the implications for its security. The US said on Tuesday that “gaps remain” between Washington and Tehran over a nuclear draft agreement. Iran has received the US response to its proposals and is due to answer soon.

“Earlier this year I think it’s fair to say Saudi Arabia and other regional actors were reasonably confident the Iran deal wasn’t going to happen in the near future,” said Helima Croft, a former CIA analyst and Opec specialist at RBC Capital Markets.

“Now that the negotiations have been revived I think they will be focused on both the oil market and the wider security implications of this deal potentially getting over the finish line.”

Saudi Arabia has long opposed a US rapprochement with Iran and in 2017 threw its weight behind US president Donald Trump as he unwound the signature foreign policy achievement of the Obama administration.

Iran also wants to remind the White House of its sway over oil markets at a time when it feels its concerns about its own security have not been fully acknowledged, said analysts.

A new nuclear deal could restore as much as 1.3mn barrels a day of Iranian oil exports — equivalent to about 5 per cent of Opec’s total supply — easing traders’ fears of shortages as Europe tightens sanctions on Russian crude shipments. While it would take time for Iran to rejuvenate its oil sector and raise output, the country has a large volume of crude already stored on tankers at sea.

Some people familiar with Saudi strategy said the kingdom’s message was broader. Abdulaziz’s intervention “was about much more than Iran”, said Bob McNally, a former White House adviser and now head of Rapidan Energy Group. The minister “intended to interject stability into a crude futures market going haywire amidst falling liquidity and huge uncertainties including recession and the EU embargo on Russian oil.”

Russia, one of the countries involved in the Iran deal and Saudi Arabia’s Opec+ ally, was also an intended audience, said analysts. While Riyadh is keen to reaffirm its security alliance with the US, it is also trying to preserve an oil pact with Moscow that has bolstered oil revenues.

“The potential return of Iranian barrels is a destabilising element for the Saudi-Russian duopoly in Opec+, particularly if Iranian barrels hit the market at the onset of winter,” said Roger Diwan, a vice-president at IHS Markit.

“Declaring that the alliance will continue to manage markets, and potentially cut production is a signal that Saudi Arabia and Russia agree on the need to defend a floor price, and set these expectations early.” 

However, the Saudi intervention could be awkward for the Biden administration, which has worked to drive down domestic petrol prices ahead of midterm elections this November. Prices have fallen steadily in recent weeks.

“From the Biden administration’s point of view it has to be an unwelcome signal from the Saudis at this time,” said Gary Ross, a veteran Opec watcher and former head of energy consultancy Pira.

“The Saudis are clearly signalling they want $100 a barrel to be the floor for the oil price, and so far Prince Abdulaziz has been successful in changing the psychology of the market.”

Traders certainly appear to be listening. Brent crude rose from $94 a barrel on Monday before Saudi Arabia’s warning to near $102 a barrel on Thursday.

Energy Aspects warned this week that the full return of Iran to the oil market may send crude prices below $80 or even $70 a barrel without Opec+ lowering production.

Prince Abdulaziz has argued that the oil industry needs more investment, a hint that he believes a higher price is necessary. A higher price also suits the kingdom’s budget as Prince Mohammed attempts to overhaul its economy. State oil company Saudi Aramco made record profits in the first half of the year.

But people close to the prince say he is also concerned about meeting demand later this year when sanctions against Russia’s oil industry tighten. Saudi Arabia has repeatedly warned that it has limited spare production, having already raised output close to 11mn barrels a day with maximum capacity around 12mn b/d. Having seen the surge in European gas prices since Russia cut production, it is also wary of the consequences of an uncontrolled oil price spike that could accelerate a shift away from oil.

“Saudi Arabia does not want to lose control of prices,” said Amrita Sen at Energy Aspects. “Either to the downside or the upside.”

>>> Stoxx 600 Pre-Market Indications

  • Halma (H11 TH) +2.3%
  • SKF (SKFB TH) +2%
    • Cevian Capitals Ownership in SKF Exceeds 5% of Capital
  • GSK (GS71 TH) +1.6%
    • Florida Zantac Ruling Positive for GSK, Sanofi, Haleon: Citi
  • Voestalpine (VAS TH) +1.6%
  • Salmar (JEP TH) +1.1%
  • Thyssenkrupp (TKA TH) +0.9%
  • LEG Immobilien (LEG TH) +0.9%
  • ASML (ASME TH) +0.8%
  • L’Oreal (LOR TH) +0.8%
  • Vodafone (VODI TH) +0.7%
  • Continental (CON TH) -1.6%
    • Continental Cut to Sell at Bankhaus Metzler; PT 50 euros

>>> TradeGate Pre-Market Indications

DAX:
  • Zalando (ZAL TH) +0.9%
  • Vonovia (VNA TH) +0.7%
  • Continental (CON TH) -1.4%
    • Continental Cut to Sell at Bankhaus Metzler; PT 50 euros
MDAX:
  • Thyssenkrupp (TKA TH) +1.7%
  • Aroundtown (AT1 TH) +1.1%
  • Uniper (UN01 TH) +1.1%
SDAX:
  • Ceconomy (CEC TH) +1.2%
  • Deutz (DEZ TH) +1.2%
  • PNE AG (PNE3 TH) +1%
  • SMA Solar (S92 TH) +1%

>>> Europe : Brokers Upgrades & Downgrades - 26th of April 2022

>>> Up
* Aiforia Technologies Raised to Reduce at Inderes; PT 4 euros
* LEG Immobilien Raised to Buy at Baader Helvea; PT 93 euros
* Salmar Raised to Buy at Pareto Securities; PT 740 kroner

>>> Down
* Ina Invest Holding Cut to Reduce at Baader Helvea
* Merus Power Cut to Reduce at Inderes; PT 7.20 euros
* Vincit Cut to Accumulate at Inderes; PT 6.40 euros

>>> Initiation
* Interpublic Rated New Outperform at Exane; PT $36

>>> Call
* Florida Zantac Ruling Positive for GSK, Sanofi, Haleon: Citi
* Heineken, Carlsberg Most At-Risk Brewers From CO2 Shortage: RBC

>>> What to look at today - 26th of April 2022

Asian stocks rose Friday, helped by the technology sector, while the dollar was firm before a speech by Federal Reserve Chair Jerome Powell that’s set to shape views on the pace of US monetary tightening. A regional index hit a one-week high amid gains in Japan and Hong Kong, where a tech gauge extended a rally. S&P 500 and Nasdaq 100 futures were steady after a climb in US shares. European futures added more than 0.5%. Hong Kong’s bourse is benefiting from apparent progress on averting the delisting of Chinese shares in the US over an audit dispute. Beijing’s efforts to step up stimulus for China’s ailing economy have aided investor sentiment too. Meanwhile, Fed officials gathering for a conference in Jackson Hole, Wyoming conveyed a chorus of hawkish comments. Powell is expected to restate the Fed’s resolve to keep hiking interest rates to fight elevated inflation when he speaks at 10 a.m. Washington time on Friday. Treasuries slipped, pushing the US 10-year yield toward 3.05%. Oilscaled $93 a barrel. Gold and Bitcoin edged lower. A rebound in stocks and bonds from June lows has left financial conditions at easier levels than before the Fed began its aggressive tightening campaign. The question is whether Powell will try to reset market expectations to ensure that the brakes continue to be applied to economic activity. US After Hours FTCH +13.3%, WDAY +10.9%, GPS +6.3%, ULTA +3.1% higher on earnings; DOMO -15.2%, AFRM -13.5%, DELL -7.8%, ESTC -4.9%, MRVL -3.5% lower on earnings.

Nikkei +0.72% Hang Seng +0.70% CSI +0.02% Shanghai +0.09% Shenzen +0.22%

Eur$ 0.9968 CNH 6.8597 CNY 6.8547 JPY 136.69 GBP 1.1822 CHF 0.9638 RUB 60.4160 TRY 18.1721 WTI$ 93.39 +0.94% Gold 1,756.76 -0.11% BTC 21,151 -0.50% ETH 1,683.35 -1.45%

S&P -0.21% Nasdaq -0.28% EuroStoxx +0.40% FTSE +0.27% Dax +0.36% SMI +0.42%

Macro :
- BofA’s Subramanian Says Reasons to Be Bullish Are ‘Pretty Thin’
- Francisco Partners Said in Talks to Buy Music Publisher Kobalt

Keep an eye on :
- AKSO NO : Aker BP, Aker Solutions Award Rosenberg Worley LOI of NOK1.6b
- DELL US : Dell Technologies 2Q Adjusted EPS Beats Estimates
- EDF FP : UK to Announce Support for Sizewell C Nuclear Plant Next Week
- ENEL IM : Enel Colombia, Bavaria Sign 15-Year Green PPA
- ECMPA NA : Eurocommercial 1H Net Property Income EU85.5M Vs. EU70.4M Y/y
- GPS US : Gap 2Q Adjusted EPS Beats Estimates
- HAL NA : HAL 1H Net Loss EU161.2M Vs. Profit EU597.4M Y/y
- HEIA NA : Heineken, Brewers Fall as Worries Over Global Energy Crisis Bite
- IBAB BB : IBA Qualifies For Second Round of Ten-Unit Tender In Spain
- LHA GY : German Pilots Union Starts Preparations for Lufthansa Strike
- MCRO LN : OpenText to Buy Micro Focus for 532p/Share Cash: M&A Snapshot
- REC BB : Recticel 1H Net Income EU34.6M Vs. EU28.0M Y/y
- SAN FP : Florida Zantac Ruling Positive for GSK, Sanofi, Haleon: Citi
- SFSN SW : SFS 1H Sales Beats Estimates
- ENR GY : Russia May Freeze Siemens’s Unit Sale to Inter RAO: Kommersant
- SIFG NA : SIF 1H Revenue EU191.3M Vs. EU249.3M Y/y
- SKFB SS : Cevian Capitals Ownership in SKF Exceeds 5% of Capital
- STORYB SS : Storytel Names Johannes Larcher as New CEO
- ZUGN SW : Zug Estates 1H Vacancy Rate 3.8%

WSJ : SpaceX, T-Mobile to Connect Satellites to Cellphones in Remote Areas

SpaceX, T-Mobile to Connect Satellites to Cellphones in Remote Areas
Elon Musk unveils plan to provide voice and data services anywhere, allowing areas not yet reached by wireless networks to get service

SpaceX and T-Mobile US Inc. TMUS 1.20% said they plan to work together to use the rocket company’s satellites to provide connections to T-Mobile TMUS 1.20% cellphones across the U.S., even in remote areas with no current wireless service.

The companies said Thursday that the new service will use Starlink satellites that SpaceX plans to launch and provide connections to U.S. consumers using wireless spectrum controlled by T-Mobile. The companies said they plan to start with a test of text-messaging services in select markets before the end of 2023.

The end goal of the partnership is to provide voice and data services anywhere, regardless of cell towers, allowing areas not yet reached by wireless networks to get service. That would include places where cellular signals can’t reach, such as the middle of a national park or a large body of water.

“It means no dead zones anywhere in the world for your cellphones,” SpaceX founder Elon Musk said at an event at SpaceX’s facility in Texas. He said the satellite signal would reach phones in people’s pockets or inside a car and could provide basic messaging connections in places hit by a natural disaster.

Mr. Musk said that the bandwidth would be limited and that the new satellite service wouldn’t supplant existing ground-based cellular services. “This is meant to provide basic coverage to areas that are completely dead,” he said.

T-Mobile Chief Executive Mike Sievert said that the company expects most current smartphones will work with the new service and that it expects the satellite service to be included free on its most popular monthly plans.

Remote areas can be expensive to reach with land-based wireless networks and contain few paying subscribers to justify the cost. Existing satellite phone services generally require handsets with large antennas and monthly plans that charge per message or minute.

The new service will use Starlink satellites as cellular towers and transmit directly back to devices on the ground. T-Mobile will set aside a slice of its midband spectrum for these connections. It will use the airwave frequencies in a way that they can also be used on its ground-based network.

The project faces regulatory hurdles. The Federal Communications Commission would need to sign off on SpaceX’s use of the T-Mobile spectrum, a spokeswoman for the carrier said. She added that SpaceX would need to secure additional permission from the agency.

“We look forward to making our case and hearing their reaction,” the T-Mobile spokeswoman said. Representatives from the FCC couldn’t immediately be reached.

Mr. Musk said the service would use second-generation Starlink satellites that would be outfitted with large antennas that cover swaths of land that have no service. SpaceX has a pending application before the FCC to launch around 30,000 of the second-generation satellites over time.

Some competing satellite operators have raised concerns about the size of that fleet or have said they oppose it. The National Aeronautics and Space Administration, a SpaceX customer, has registered worries that the satellites could cause more collisions in orbit.

In a recent filing with the FCC, SpaceX asked the commission to approve the application for the second-generation fleet. A spokesman for SpaceX didn’t immediately respond to a request for comment.

On Thursday, Mr. Musk said each Starlink satellite would cover a large area on the ground and could provide about 2 to 4 megabits per second of bandwidth to be shared across such a zone. He estimated that bandwidth could support about 1,000 to 2,000 voice calls at the same time within that zone.

T-Mobile and SpaceX said they want to expand their technology alliance to include wireless companies in other countries. Mr. Sievert said T-Mobile was willing to offer reciprocal roaming agreements. “We do want to work with other partners in other parts of the world,” Mr. Musk said.

The plan is ambitious partly because it will use existing phones rather than requiring new hardware, and while grand in scope, it will begin with texting and messaging apps. Text messages are less burdensome on a network compared with calls or streaming data.

Reaching far corners has long been a goal in wireless communications, in which weather, geography and economics can create engineering challenges and high costs. Cellphones connect to networks wirelessly, but cell towers themselves are generally connected to fiber-optic cable that can move large amounts of data more efficiently than wireless signals.

Last year, Google parent Alphabet Inc. shut down a project that used highflying balloons to provide internet access in hard-to-reach regions of the world. After a decade, the effort wasn’t able to reduce cost enough to make the business viable, Alphabet said.

Companies such as Lynk Global Inc. and AST SpaceMobile Inc. have been working to develop businesses using satellites to provide connections for mobile phones.

Lynk Chief Executive Charles Miller said the deal between SpaceX and T-Mobile validates the company’s business model. Lynk plans to launch commercial service outside the U.S. this year.

Space Exploration Technologies Corp., as SpaceX is formally known, has been pushing to broaden Starlink’s reach. The company regularly uses its rockets to blast batches of Starlink satellites to orbits relatively close to Earth, and it reported more than 400,000 subscribers for the internet service globally in a June presentation filed with the FCC.

In addition to targeting customers needing internet service at their homes, SpaceX has pursued deals with airlines and recently won the right to connect boats, recreational vehicles and other moving vehicles.

WSJ : Paul Allen’s $1 Billion Art Collection Heads to Auction

Paul Allen’s $1 Billion Art Collection Heads to Auction
Christie’s will offer 150 artworks from the Microsoft co-founder’s estate, with proceeds from a likely historic sale going to charity


Microsoft co-founder Paul Allen collected chemistry sets as a boy, but the trove of paintings and sculptures he later amassed could top $1 billion when it heads to auction at Christie’s this fall.

Christie’s confirmed Thursday that it had won the right to sell at least 150 artworks from Mr. Allen’s estate—now poised to be the most expensive art collection the auction industry has ever handled. The sale is estimated to surpass the $922 million collection of real-estate developer Harry Macklowe and his ex-wife Linda Macklowe, sold earlier this year, as well as the $835 million estate of banker David Rockefeller and his wife, Peggy, in 2018. Mr. Allen died at age 65 in 2018 after a recurrence of non-Hodgkin lymphoma.

Marc Porter, chairman of Christie’s Americas, said the house must finish cataloging all 150 works before providing additional details on the sale’s offerings, though he confirmed it will include Jasper Johns’ 1960 “Small False Start,” which is estimated to sell for at least $50 million, and Paul Cézanne’s 1888-90 landscape, “La Montagne Sainte-Victoire.”

The Cézanne last sold at auction for $39 million in 2001; Mr. Porter estimates it could resell for at least $100 million this November in New York.

Like the Rockefeller estate, all proceeds from Mr. Allen’s sale will go to charity, though no recipients have yet been named, the house said. Mr. Allen donated $2 billion during his lifetime to funds addressing biomedical research, culture, environmental causes and homelessness.

Jody Allen, the collector’s sister and executor of his estate, described her brother in a statement as being both “analytical and emotional,” adding, “He believed that art expressed a unique view of reality—combining the artist’s inner state and inner eye—in a way that can inspire us all.”

Since collectors tend to pay premiums for art tied to noteworthy owners, Mr. Allen’s estate could prove to be the marketing bonanza of the fall art season. “Collecting art was personal for him, an element of his intellectual exploration,” Mr. Porter said of the collector.

Mr. Allen’s role pioneering the personal-computing industry with his high-school friend Bill Gates has long been the stuff of Silicon Valley legend. After leaving Microsoft in 1983, he began paying more attention to art. He was inspired in part by his librarian father, who collected Chinese celadon pottery and hung a poster of Georges Rouault’s 1916-1936 “The Old King” in the family living room, according to Mr. Allen’s 2011 autobiography, “Idea Man.”

By the early 1990s, Mr. Allen started to make waves at major auctions and eventually gained a reputation as an extremely private yet omnivorous collector. Even his autobiography didn’t delve into the back stories about his holdings of impressionist and modern art. In other collecting fields, he appeared more willing to discuss his activities, from war planes and Jimi Hendrix’s electric guitars to historic manuscripts and Captain Kirk’s first “Star Trek” command chair. He lent or donated many of these objects to museums he founded such as Seattle’s Experience Music Project, now renamed the Museum of Pop Culture, or the Flying Heritage & Combat Armor Museum.

Only his blue-chip paintings and sculptures will be offered as part of Christie’s sale, the auction house said. Mr. Porter said Mr. Allen tended to seek out artworks that represented “groundbreaking” moments in artists’ careers, including that Cézanne mountainscape that is now considered a seminal example of the artist’s experiments with early abstraction.

A pair of Seattle museum exhibits in 2006 and 2019-2020 drawing from his collection offer clues into potential pieces that could be headed for auction. Among the older works Mr. Allen or his estate has loaned are Sandro Botticelli’s circa-1480-1489 “Madonna of the Magnificat,” Jan Brueghel the Younger’s 1625 “The Five Senses: Sight,” and Canaletto’s 1783 Venetian scene, “The Grand Canal, Venice, Looking South-East from Saint Eustace to New Rialto Buildings.”

Mr. Porter declined to name other specific works in the estate sale but conceded that Mr. Allen’s collecting spanned 500 years of art history and often included landscapes set in places he liked to travel, including Italy and France.

Among the impressionist works known to be in Mr. Allen’s collection, according to past museum shows: Edgar Degas’ “Woman Seated in Front of a Piano” from 1882-85, Pierre-Auguste Renoir’s 1877 “The Reader” and several examples by Claude Monet, including famed views of the Rouen cathedral and water lily ponds.

Mr. Allen is also known for buying several powerhouse modern pieces, including Georgia O’Keeffe’s 1927 “White Rose with Larkspur No. 1,” and Roy Lichtenstein’s 1962 “The Kiss.”

The sale could also give the market a chance to see if Mr. Allen’s past purchases have appreciated in value—and by how much. In 2000, he paid Sotheby’s $14.3 million for Mark Rothko’s 1956 abstract, “Yellow Over Purple,” and in 2004, he paid the same house $39.2 million for Paul Gauguin’s 1899 “Maternity II.” Two years later, he paid Christie’s $40.3 million for Gustav Klimt’s 1903 “Birch Forest.”

>>> US After Hours Summary: FTCH +13.3%, WDAY +10.9%, GPS +6.3%, ULTA +3.1% high

After Hours Summary: FTCH +13.3%, WDAY +10.9%, GPS +6.3%, ULTA +3.1% higher on earnings; DOMO -15.2%, AFRM -13.5%, DELL -7.8%, ESTC -4.9%, MRVL -3.5% lower on earnings;

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: FTCH +13.3%, WDAY +10.9%, GPS +6.3%, ULTA +3.1%, SUMO +0.7%

Companies trading higher in after hours in reaction to news: MFGP +95.2% (OTEX to acquire MFGP), APLD +3.1% (expects to have three data centers operating by 1H23, also reports earnings), BBBY +2% (confirms it will hold strategic update call on Aug 31), XRAY +1.4% (names new CEO), PBA +1.1% (names new CFO and Board Chair), HBI +0.9% (extends apparel partnership with Univ of Michigan), LRCX +0.1% (increases dividend), TSLA +0.1% (California will ban sale of new gas vehicles in 2035, according to CNBC), PRG +0.1% (responds to PA attyy general decision to file a complaint)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: DOMO -15.2%, AFRM -13.5%, DELL -7.8%, ESTC -4.9% (also names AWS exec as chief product officer), MRVL -3.5%, VMW -1.1%

Companies trading lower in after hours in reaction to news: DNMR -12.6% (files for $100 mln mixed securities shelf offering), OTEX -5% (OTEX to acquire MFGP), DASH -0.8% (hit by a data breach involving Twilio-linked hackers, according to TechCrunch), RIDE -0.5% (California will ban sale of new gas vehicles in 2035, according to CNBC), RIVN -0.2% (California will ban sale of new gas vehicles in 2035, according to CNBC)