Gapping down
In reaction to earnings/guidance:
- NUE -5.1%, FLS -2.5%, LICY -0.5%
Other news:
- ALT -51% (reports Phase 1b Clinical Trial of Pemvidutide in Subjects with NAFLD)
- PNT -8.6% (prices offering of 13.9 mln shares of common stock at $9.00 per share)
- TWTR -1.4% (stockholders approve merger agreement with Elon Musk)
- AKRO -1.3% ($175 mln common stock offering)
- CPA -1% (reports August traffic)
Analyst comments:
- SQ -4.1% (downgraded to Underperform from Outperform at Evercore ISI)
- UNP -3.2% (downgraded to Mkt Perform from Outperform at Bernstein)
- AVTR -1.8% (downgraded to Market Perform from Outperform at Cowen)
Gapping up
In reaction to earnings/guidance:
- EPM +9%, RLGT +5.3%, DOOO +1.4%, GSHD +1%, ASH +0.9%, RTX +0.7%
Other news:
- DWIN +18.5% (announces forward purchase agreement and amended backstop agreements)
- NGM +6.1% (provides preliminary findings for Phase 1b trial of NGM120)
- EWTX +5.8% (prices offering of 11627907 shares of its common stock at $10.32 per share)
- TBLA +4.5% (announces restructuring program reducing headcount by 6%)
- LEU +2.4% (secures $320 mln in new sales contracts and commitments)
- APEI +2.3% (CEPH reaccredits Master of Public Health program)
- OCGN +2.2% (Announces Publication of a Comprehensive Review of BBV152 in Frontiers in Immunology)
- CCRN +1.9% (acquires assets of Mint Medical Physician Staffing and Lotus Medical Staffing)
- STLA +1.5% (Stellantis and General Motors (GM) to execute a share repurchase transaction)
- SBUX +1.4% (provides new growth targets in Reinvention Plan)
Analyst comments:
- SOFI +3.1% (upgraded to Buy from Neutral at BofA Securities)
- SLG +2.2% (upgraded to Buy from Hold at Truist)
Early premarket gappers
- Gapping up:
- DWIN +18.5%, EPM +11%, NGM +6.1%, RLGT +5.3%, TBLA +4.5%, SBUX +2.6%, APEI +2.3%, STLA +2.3%, EWTX +2.1%, CCRN +1.9%, DOOO +1.4%, RTX +1.2%, RIO +1.1%, LICY +1.1%, O +0.8%, BWXT +0.8%
- Gapping down:
- PNT -8.5%, AKRO -2.5%, FLS -2.5%, GSHD -1.2%, CPA -1%, TWTR -0.8%, WBD -0.5%
>>> Up
* Croda Raised to Buy at Jefferies; PT 8,200 pence
* DNO Raised to Buy at DNB Markets; PT 16 kroner (+)
* DSM Raised to Buy at Jefferies; PT 150 euros
* Enagas Raised to Neutral at JB Capital Markets; PT 17.40 euros (+)
* Gamma Communications Raised to Hold at Jefferies; PT 1,300 pence
* Intertek Raised to Buy at Numis; PT 5,000 pence
* JDE Peet's Raised to Neutral at Exane; PT 32 euros (+)
* Krones Raised to Outperform at Oddo BHF; PT 123 euros
* Merck & Co Raised to Buy at Berenberg; PT $100
* Pernod Ricard Raised to Buy at HSBC; PT 212 euros
* Schneider Electric Raised to Buy at Deutsche Bank; PT 145 euros
* Schibsted Raised to Overweight at Morgan Stanley; PT 280 kroner
>>> Down
* Abrdn plc Cut to Sell at Deutsche Bank; PT 135 pence
* Auto Trader Cut to Equal-Weight at Morgan Stanley; PT 682 pence
* Bristol-Myers Cut to Hold at Berenberg; PT $76
* EasyJet Cut to Sell at Stifel; PT 300 pence
* Getinge Cut to Hold at ABG; PT 200 kronor (+)
* IAG Cut to Sell at Stifel; PT 86.70 pence
* Kion Cut to Neutral at Oddo BHF; PT 39 euros (+)
* Kion Cut to Neutral at Exane; PT 35 euros (+)
* Legrand Cut to Underperform at Jefferies; PT 65 euros
* L'Oreal Cut to Neutral at Exane; PT 380 euros (+)
* Lufthansa Cut to Hold at Stifel; PT 6 euros
* Nestle Cut to Neutral at Exane; PT 119 Swiss francs (+)
* Novartis Cut to Hold at Berenberg; PT 80 Swiss francs
* Novozymes Cut to Hold at Jefferies; PT 450 kroner
* Novozymes ADRs Cut to Hold at Jefferies; PT $69
* Ocado Cut to Underperform at Credit Suisse; PT 590 pence (+)
* Remy Cointreau Cut to Hold at HSBC; PT 196 euros
* Ryanair Cut to Sell at Stifel; PT 10 euros
* Thule Cut to Hold at Pareto Securities; PT 230 kronor (+)
* Zurich Airport Cut to Hold at Stifel; PT 170 Swiss francs
>>> Initiation
* Allgeier Rated New Buy at Berenberg; PT 42 euros
* Chr. Hansen Rated New Underperform at Jefferies; PT 380 kroner
* Invinity Energy Systems Rated New Buy at Arden Partners (+)
* Kerry Group Rated New Hold at Jefferies; PT 105 euros
* Ratos Rated New Buy at Nordea; PT 63 kronor
* Sika Rated New Outperform at Oddo BHF; PT 270 Swiss francs
* Treatt Rated New Buy at Jefferies; PT 750 pence
>>> Call
* Bernstein Quants See More US Stock Losses After Inflation Shock (+)
* Citi Warns Against Chemicals, Citing Negative Earnings Momentum (+)
* DSM Up to Buy at Jefferies on ‘Significant’ Financial Headroom (+)
* Dunelm’s Current Performance is ‘Resilient,’ Peel Hunt Says (+)
* Inditex Earnings Show Retailer In a Class of Its Own: Jefferies
* Kion Warns on 3Q; Citi Says Lack of Higher Costs Is Main Issue (+)
* Legrand Falls; Jefferies Sees Weakening Market as Rates Rise (+)
- Inditex (IXD1 TH) +3%
- Zara’s Owner Inditex Posts Jump in First-Half Sales and Profit
- Rio Tinto (RIO1 TH) +0.9%
- Schneider Electric (SND TH) +0.7%
- Schneider Electric Raised to Buy at Deutsche Bank; PT 145 euros
- DSM (DSM2 TH) +0.6%
- DSM Up to Buy at Jefferies on ‘Significant’ Financial Headroom
- Imperial Brands (ITB TH) +0.6%
- Continental (CON TH) -1.6%
- L’Oreal (LOR TH) -1.6%
- Mercedes (MBG TH) -1.7%
- IAG (INR TH) -1.9%
- IAG Cut to Sell at Stifel; PT 86.70 pence
- Aixtron (AIXA TH) -1.9%
- Engie (GZF TH) -2%
- Watch Energy and Utilities as EU Pushes for Price Caps, Levies
- Commerzbank (CBK TH) -2.3%
- Legrand (LRC TH) -2.6%
- Legrand Cut to Underperform at Jefferies; PT 65 euros
- Thyssenkrupp (TKA TH) -2.6%
- Kion (KGX TH) -12%
- Kion Warns on 3Q; Citi Says Lack of Higher Costs Is Main Issue
DAX:
- Porsche SE (PAH3 TH) -0.6%
- Porsche IPO Draws Commitment From Norwegian Wealth Fund (1)
- SAP (SAP TH) -0.7%
- VW (VOW3 TH) -0.8%
- Siemens Healthineers (SHL TH) -1%
- Deutsche Post (DPW TH) -1.5%
- Daimler Truck (DTG TH) -1.5%
- Deutsche Bank (DBK TH) -1.6%
- Deutsche Bank Names Richard Stewart Group Treasurer
- BASF (BAS TH) -1.7%
- Mercedes (MBG TH) -1.8%
MDAX:
- Uniper (UN01 TH) +0.7%
- Uniper Extends Life of UK Coal Unit to Secure Winter Electricity
- Uniper Mulls Damage Claims Against Gazprom in Sweden: Reuters
- Aroundtown (AT1 TH) +0.4%
- Grand City Properties (GYC TH) +0.4%
- Jungheinrich (JUN3 TH) -2%
- Commerzbank (CBK TH) -2.1%
- Encavis (ECV TH) -2.3%
- Thyssenkrupp (TKA TH) -2.7%
- Kion (KGX TH) -11%
- Kion Warns on 3Q; Citi Says Lack of Higher Costs Is Main Issue
SDAX:
- Krones (KRN TH) +0.7%
- Krones Raised to Outperform at Oddo BHF; PT 123 euros
- Heidelberger Druck (HDD TH) -0.9%
- Salzgitter (SZG TH) -1.1%
- Hensoldt (HAG TH) -1.4%
- SMA Solar (S92 TH) -1.5%
- flatexDEGIRO (FTK TH) -2.5%
- SUSE (SUSE TH) -2.5%
- About You (YOU TH) -5%
- About You Cuts FY Forecasts; Cites Macroeconomic Deterioration
>>> Up
* Croda Raised to Buy at Jefferies; PT 8,200 pence
* DSM Raised to Buy at Jefferies; PT 150 euros
* Gamma Communications Raised to Hold at Jefferies; PT 1,300 pence
* Intertek Raised to Buy at Numis; PT 5,000 pence
* Krones Raised to Outperform at Oddo BHF; PT 123 euros
* Merck & Co Raised to Buy at Berenberg; PT $100
* Pernod Ricard Raised to Buy at HSBC; PT 212 euros
* Schneider Electric Raised to Buy at Deutsche Bank; PT 145 euros
* Schibsted Raised to Overweight at Morgan Stanley; PT 280 kroner
>>> Down
* Abrdn plc Cut to Sell at Deutsche Bank; PT 135 pence
* Auto Trader Cut to Equal-Weight at Morgan Stanley; PT 682 pence
* Bristol-Myers Cut to Hold at Berenberg; PT $76
* EasyJet Cut to Sell at Stifel; PT 300 pence
* IAG Cut to Sell at Stifel; PT 86.70 pence
* Legrand Cut to Underperform at Jefferies; PT 65 euros
* Lufthansa Cut to Hold at Stifel; PT 6 euros
* Novartis Cut to Hold at Berenberg; PT 80 Swiss francs
* Novozymes Cut to Hold at Jefferies; PT 450 kroner
* Novozymes ADRs Cut to Hold at Jefferies; PT $69
* Remy Cointreau Cut to Hold at HSBC; PT 196 euros
* Ryanair Cut to Sell at Stifel; PT 10 euros
* Zurich Airport Cut to Hold at Stifel; PT 170 Swiss francs
>>> Initiation
* Allgeier Rated New Buy at Berenberg; PT 42 euros
* Chr. Hansen Rated New Underperform at Jefferies; PT 380 kroner
* Kerry Group Rated New Hold at Jefferies; PT 105 euros
* Ratos Rated New Buy at Nordea; PT 63 kronor
* Sika Rated New Outperform at Oddo BHF; PT 270 Swiss francs
* Treatt Rated New Buy at Jefferies; PT 750 pence
>>> Call