Gapping up
In reaction to earnings/guidance:
- AFRM +36.4% (also announces multi-year extension of exclusive partnership with SHOP in the US), EDR +20%, DUOL +16.5%, INDI +13%, HRT +11%, PAYO +8.3%, TOST +7.6%, ACET +7.3%, CORZ +7%, VZIO +5.7%, RYAN +5.6%, HNST +3.4%, MSI +2.7%, AQN +1.9% (also increases dividend), LZ +1.1%, HMC +1.1%, POSH +0.8%
Other news:
- HOOD +22.9% (Emergent Fidelity discloses 7.6% stake; Sam Bankman-Fried CEO of crypto exchange FTX is majority holder in fund)
- COIN +13% (in sympathy with HOOD news)
- DVAX +11.5% (to join S&P SmallCap 600)
- AOSL +10% (to join S&P SmallCap 600)
- DWAC +7.5% (shares higher following Elon Musk's update on Twitter (TWTR))
- TSLA +6.7% (shares higher following Elon Musk's update on Twitter (TWTR))
- CHPT +5.4% (stock offering)
- BBIO +5.4% (entered into a definitive agreement with an undisclosed purchaser to sell its PRV for $110 mln)
- AVTR +5% (names new chairman)
- SHOP +4.3% (AFRM announces multi-year extension of exclusive partnership with SHOP in the US)
- VCYT +4.1% (highlights updated clinical guidelines from AUA and ASTRO)
- OI +4% (completes sale and leaseback transaction)
- WST +3.3% (names Bernard Birkett to combined position of CFO and COO)
- SIGA +3% (Dept of Defense awards contract for $7.5 mln of oral TPOXX)
- EDIT +2.7% (FDA grants Orphan Drug Designation to EDIT-301)
- PAG +2.7% (increases dividend increases share repurchase authorization to $250 mln)
- OXY +2.1% (10% owner Berkshire Hathaway (Warren Buffett) disclosed the purchase of ~902K shares worth ~$51.7 mln (transaction dates 5/10-5/11))
- GM +2% (to increase wages at Mexico plant according to Bloomberg)
- GE +1% (co expects improvement in 2H22 according to Reuters)
Analyst comments:
- FSLR +5.1% (upgraded to Overweight from Neutral at Piper Sandler)
- CPA +2.1% (upgraded to Overweight from Underweight at Barclays)
- DNUT +1.8% (upgraded to Buy from Hold at HSBC Securities)
Early premarket gappers
- Gapping up:
- AFRM +25.3%, HOOD +20.8%, DUOL +17.5%, INDI +13%, PAYO +12.5%, EDR +12.3%, DVAX +12.1%, COIN +11.1%, HRT +11%, DWAC +10.5%, AOSL +9.4%, TOST +6.6%, CORZ +6.5%, CHPT +6.1%, VZIO +5.7%, RYAN +5.6%, AVTR +5%, TSLA +4.9%, AQN +4.5%, OI +4%, HMC +3.9%, WST +3.3%, SHOP +3.1%, MSI +2.7%, ACET +2.5%, EXFY +2.4%, GE +2.3%, EDIT +1.6%, GM +1.2%, UNP +1.1%, LZ +1.1%, HBM +1%, POSH +0.8%
- Gapping down:
- FIGS -26.4%, TWTR -17.9%, NEWR -8%, ENFN -6%, SKYH -5.1%, VCYT -5%, IRT -2.9%, HLI -2.9%, PAM -2.1%, NVTS -1.9%, MCW -1.8%, LAW -1.7%, BLND -1.3%, WSR -1.1%
- Evotec SE (EVT TH) +3.1%
- Evotec SE Raised to Buy at Deutsche Bank; PT 30 euros
- Carl Zeiss Meditec (AFX TH) +2.8%
- Carl Zeiss Meditec 1H Ebit Margin 20.7% Vs. 21.2% Y/y
- Rio Tinto (RIO1 TH) +2.4%
- ASML (ASME TH) +2.4%
- AstraZeneca (ZEG TH) +2.2%
- Kion (KGX TH) +1.7%
- KBC Group (KDB TH) +1.7%
- Freenet (FNTN TH) +1.6%
- VW (VOW3 TH) +1.6%
- Just Eat Takeaway (T5W TH) +1.6%
- Repsol (REP TH) -0.5%
- Watch European Oil Stocks as Crude Rises for Third Day
- Deutsche Telekom (DTE TH) -0.5%
- Deutsche Telekom Raises 2022 Guidance, Reports Strong Growth (1)
- UCB (UNC TH) -9.7%
- UCB: FDA Can’t Approve Bimekizumab Application in Current Form
DAX:
- Deutsche Post (DPW TH) +1.6%
- Vonovia (VNA TH) +1.5%
- Infineon (IFX TH) +1.4%
- Deutsche Bank (DBK TH) +1.3%
- Allianz (ALV TH) +1.2%
MDAX:
- Evotec SE (EVT TH) +3.2%
- Evotec SE Raised to Buy at Deutsche Bank; PT 30 euros
- Freenet (FNTN TH) +1.6%
- Freenet 1Q Ebitda Beats Estimates
- RTL (RRTL TH) +1.6%
- Siemens Energy (ENR TH) +1.2%
- Varta (VAR1 TH) +1%
SDAX:
- SMA Solar (S92 TH) +3.9%
- SMA Solar Raised to Buy at Bankhaus Metzler; PT 45 euros
- VERBIO Vereinigte (VBK TH) +3.6%
- flatexDEGIRO (FTK TH) +2.3%
- Traton (8TRA TH) +1.8%
- Deutz (DEZ TH) +1.7%
- Deutsche PBB (PBB TH) -1.2%
- Deutsche PBB Cut to Sell at Bankhaus Metzler; PT 8.70 euros
Stocks rose Friday after Federal Reserve Chair Jerome Powell again pushed back against speculation of steeper interest-rate hikes and as cryptocurrencies rebounded from a plunge that has captivated markets. An Asian share gauge climbed over 1.5%, aided by rallies in technology stocks in China and Japan, where SoftBank Group Corp. surged. US and European futures advanced after an intraday rebound left the S&P 500 little changed. Abating panic in the highly speculative cryptocurrency market may be helping sentiment. Bitcoin added about $1,700 to top $30,000. Powell reaffirmed the Fed is likely to raise rates by a half point at each of its next two meetings and isn’t “actively considering” a 75 basis-point move. A dollar gauge dipped but remains on course for its longest streak of weekly gains since 2018. Treasuries gave back some of their recent rally, taking the 10-year yield to about 2.89%. The yen retreated. Powell left open the possibility of doing more if needed to get high inflation under control. Concerns that tightening monetary policy will spark an economic downturn continue to shadow markets and have tended to snuff out rebounds. China’s Covid lockdowns and Russia’s war in Ukraine have also roiled a range of assets this year, leaving world shares near a bear market. In China, Beijing officials denied the city will be locked down. Shanghai said it plans to achieve “no community spread” of the virus by mid-May. Oil prices scaled $107 a barrel and wheat prices rallied, partly as the war continues to impact commodities. European Union nations say it may be time to consider delaying a push to ban Russian oil if the bloc can’t persuade Hungary to back the embargo. Wheat production in Ukraine, one of the biggest growers, will fall by one-third compared to last year, according to a US forecast. US After Hours AFRM +27.7%, TOST +4.1% higher on earnings; HOOD jumps +23.9% as fund takes 7.6% stake; FIGS -27.1%, NEWR -9.8%, TBLA -8.8% fall on earnings
Nikkei +2.50% Hang Sneg +2% CSI +0.40% Shanghai +0.56% Shenzen +0.03%
Eur$ 1.0391 CNH 6.8172 CNY 6.7952 JPY 128.98 GBP 1.2214 CHF 1.0026 RUB 64.4240 TRY 15.4153 WTI$ 107.96 +1.71% Gold 1,826.84 +0.28% XBT 30,329 +6.25% ETH 2,075,50 +7.88%
S&P +1.02% Nasdaq +1.48% EuroStoxx +1.20% FTSE +0.94% Dax +1.13% SMI +0.13%
Macro :
- Crypto-Market Panic Subsides With Prices, Tether Stabilizing
- Hedge fund Arca says it’s solvent despite blowup rumors
- Here Is the Full List of EMEA Stocks in MSCI’s May Review
- EU Parliamentarian Welcomes Tech Antitrust Push in Congress
Keep an eye on :
- ACS SM : ACS 1Q Net Income Misses Estimates
- ANA SM : Acciona Reiterates Outlook for 2022
- AAPL US : Pegatron Cuts 2Q Shipments Forecast Due to China Lockdowns
- ATL IM : Atlantia BOD Names BNP, Morgan Stanley as Financial Advisers
- ATL IM : Atlantia 1Q Net Income EU344M Vs. Loss EU97M Y/y
- AUSS NO : Austevoll Seafood 1Q Ebit Misses Estimates
- POST AV : Austrian Post 1Q Ebit Misses Estimates
- BATS LN : British American Tobacco: FDA Authorized Some Vuse Vibe, Ciro
- EN FP : Bouygues Signs Equans Share Purchase Agreement With Engie
- AFX GY : Carl Zeiss Meditec 1H Ebit Margin 20.7% Vs. 21.2% Y/y
- CEC GY : Ceconomy Confirms FY Forecast, Reduces 2Q Adjusted Ebit Loss
- DTE GY : Deutsche Telekom Sees FY Adj. EBITDA AL Above EU36.6B
- DOV IM : doValue 1Q Adjusted Ebitda EU39.3M Vs. EU38.7M Y/y
- EDF FP : UK Starts £120 Million Fund to Develop Nuclear Power Technology
- ENGI FP : Bouygues Signs Equans Share Purchase Agreement With Engie
- ENI IM : Italy’s Eni Set to Make Gazprom Payment Due by the End of May
- ETL FP : Eutelsat 3Q Revenue Beats Estimates
- FORTUM FH : Gazprom, Inter RAO May Seek Fortum Russia Assets: Kommersant
- FNTN GY : Freenet 1Q Ebitda Beats Estimates
- GSF NO : Grieg Seafood 1Q Ebit Beats Estimates
- LSG NO : Leroy 1Q Adjusted Ebit Misses Estimates
- MEKKO FH : Marimekko 1Q Net Sales Beats Estimates
- MBG GY : Mercedes-Benz USA Recalls ~300,000 Cars for Brake Fault
- NAS NO : Norwegian Air 1Q Operating Revenue Beats Estimates
- ORP FP : Orpea 1Q Revenue Matches Estimates
- POM FP : Plastic Omnium Targets Economic Rev. of Around €11B in 2025
- QFUEL NO : Quantafuel 1Q Ebitda Loss NOK52.3M Vs. Loss NOK30.5M Y/y
- RNO FP : Renault Confirms Possible New EV, Combustion-Engine Entities
- ROTH FP : Rothschild & Co 1Q Revenue EU675.3M Vs. EU636.2M Y/y
- US IM : UnipolSai 1Q Consolidated Net EU203M Vs. EU249M Y/y
- VTSCO GY : Vitesco 1Q Adjusted Ebit EU45.2M Vs. EU17.1M Y/y
- WBD IM : Webuild Sees FY Revenue EU7.0B to EU7.5B
- WBD IM : Webuild Consortium Wins Romanian Contract Worth More Than EU1b
>>> Up
* Argenx Raised to Buy at Deutsche Bank; PT 320 euros
* Coca-Cola HBC Raised to Buy at Jefferies; PT 2,000 pence
* Evotec SE Raised to Buy at Deutsche Bank; PT 30 euros
* Fortum Raised to Buy at SEB Equities; PT 19 euros
* Genmab Raised to Hold at Berenberg; PT 2,200 kroner
* SMA Solar Raised to Buy at Bankhaus Metzler; PT 45 euros
>>> Down
* Alpha Mos Rated New Buy at Stifel; PT 3.60 euros
* Autostore Cut to Hold at Pareto Securities; PT 20 kroner
* Equinor Cut to Hold at Jefferies; PT 320 kroner
* Genel Cut to Neutral at JPMorgan; PT 182 pence
* Hapag-Lloyd Cut to Reduce at HSBC; PT 300 euros
* I-RES Cut to Hold at Berenberg; PT 1.50 euros
* Norsk Hydro Cut to Neutral at SpareBank; PT 70 kroner
* Pagero Group Cut to Hold at SEB Equities; PT 17 kronor
* Roche Cut to Hold at Jefferies; PT 360 Swiss francs
* Vodafone Cut to Hold at Jefferies; PT 125 pence
>>> Initiation
* Burford Capital Rated New Buy at B Riley
>>> Call
* Clariant Remains Attractive, Even Without Sabic M&A: Baader
* Coca-Cola HBC Raised at Jefferies on Greater Earnings Confidence
* Freenet Has Strong Start, Scope for Guidance Upgrade, Citi Says
* Roche Downgraded at Jefferies Following Pipeline Setbacks