WSJ : Russia Ramps Up Accusations of Neo-Nazism in Ukraine

Russia Ramps Up Accusations of Neo-Nazism in Ukraine
Moscow responds to Israeli criticism of comments comparing Ukrainian President Volodymyr Zelensky with Hitler by saying Israeli government supports neo-Nazi regime in Kyiv

Russia doubled down Tuesday on its ever-wilder claims about Jews, neo-Nazis and Ukraine, accusing Israeli Foreign Minister Yair Lapid of making “antihistorical statements” when he said Jews didn’t murder themselves in the Holocaust.

The attack on Mr. Lapid came in a statement from the Russian Foreign Ministry that claimed Mr. Lapid’s views “explain the support the current government of Israel has offered the neo-Nazi regime in Kyiv.”

The escalation of the quarrel could further damage relations between Russia and Israel, which has sought to preserve its relationship with Moscow and Russian President Vladimir Putin since the invasion while also offering backing to Ukraine.

Mr. Lapid was himself responding to Russian Foreign Minister Sergei Lavrov, who in an interview on Sunday compared Ukrainian President Volodymyr Zelensky, who is Jewish, with Hitler and said that “some of the worst anti-Semites are Jews.”

The interview brought swift denunciations from Mr. Lapid and Israeli Prime Minister Naftali Bennett, who demanded Moscow halt what they called outrageous claims about Jews and Nazis in an effort to justify their attacks on Ukraine.

Mr. Lapid has taken the lead in the Israeli government in criticizing Russian actions in Ukraine, while Mr. Bennett has largely avoided clashing publicly with Moscow.

A spokesman for Mr. Lapid said he would have no further comment.

The Russian Foreign Ministry said that citing Mr. Zelensky’s Jewish background to say his government isn’t promoting Nazism “is not only untenable, but also crafty”—using a common anti-Semitic reference.

“History, unfortunately, knows tragic examples of cooperation between Jews and the Nazis,” the Russian ministry said. “The Jewish origin of the president is not a guarantee of protection from rampant neo-Nazism in the country.”

The Russian ministry also falsely accused the Ukrainian government of promoting extreme anti-Semitism.

Mr. Zelensky condemned Mr. Lavrov’s comments late Monday, saying that “such an anti-Semitic expression by their minister means all the lessons of World War II have been forgotten. Or maybe those lessons were never learned.”

The Ukrainian leader questioned whether Israel’s ambassador would remain in Moscow and if Israel could maintain its balancing act between Ukraine and Russia.

But while Israeli officials lashed out publicly at the comments and summoned Russia’s ambassador to protest, Israeli diplomats in private say they must tread carefully and are anxious not to be pushed into a more open confrontation with Moscow over its Ukraine invasion.

Israel has long given priority to maintaining its freedom of action to attack Iran and Iranian-backed groups in the south of Syria in a bid to prevent Tehran entrenching its sway near Israel’s border. Russia, which plays a key military role in securing the regime of Syrian President Bashar al-Assad, has so far turned a blind eye to Israel’s strikes there.

Israel voted to condemn Russia’s invasion and has supplied Ukraine with humanitarian aid, medical assistance and small amounts of military gear, including helmets, and flak jackets. Israeli officials say Washington has been understanding of its position.

Mr. Bennett, who has sought to mediate between Ukraine and Russia in the conflict, has said he stands ready to do so again if asked, Israeli officials say.

However, Mr. Zelensky strongly criticized Israel’s stance in a speech to the Israeli parliament in March, raising Israel’s refusal to share its Iron Dome missile defense technology.

“You can mediate…but not between good and bad,” he said.

The Kremlin has compared its invasion of Ukraine with the Soviet struggle against the Nazis in World War II, falsely claiming that the government in Kyiv is beholden to neo-Nazis.

Mr. Putin has long fashioned himself as a backer of Russia’s Jewish community. In 2012, oligarchs close to Mr. Putin funded the building of a Jewish Museum and Tolerance Center estimated to have cost some $50 million, with the president himself donating a month’s salary to the cause.

Mr. Zelensky said Mr. Lavrov’s words, alongside the destruction of Ukrainian villages and cities and alleged war crimes of Russia’s army, show that Moscow has “rejected the morals and achievements of the victors over Nazism.”

Senate Majority Leader Chuck Schumer (D., N.Y.) took to the Senate floor on Monday to condemn Mr. Lavrov’s comments as “particularly disgusting.”

>>> US Research Calls

Research Calls

  • Upgrades:
    • Co. Brasileira (CBD) upgraded to Buy from Underperform at BofA Securities
    • Hexcel (HXL) upgraded to Buy from Underperform at BofA Securities; tgt raised to $65
    • IPG Photonics (IPGP) upgraded to Buy from Neutral at Citigroup; tgt $157
    • Livent (LTHM) upgraded to Outperform from Market Perform at Cowen; tgt raised to $33
    • Starbucks (SBUX) upgraded to Outperform from In-line at Evercore ISI; tgt $95
    • Premier (PINC) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $45
    • Scotts Miracle-Gro (SMG) upgraded to Overweight from Neutral at JP Morgan; tgt lowered to $130
  • Downgrades:
    • Akamai Tech (AKAM) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $102
    • Algonquin Power & Utilities (AQN) downgraded to Sector Perform from Outperform at National Bank Financial
    • Carvana (CVNA) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $105
    • Herbalife Nutrition (HLF) downgraded to Hold from Buy at Jefferies; tgt lowered to $26
    • IAMGOLD (IAG) downgraded to Sell from Hold at Canaccord Genuity
    • IAMGOLD (IAG) downgraded to Underperform from Neutral at Credit Suisse; tgt lowered to $2.50
    • Leggett & Platt (LEG) downgraded to Mkt Perform from Outperform at Raymond James
    • Lyft (LYFT) downgraded to Neutral from Positive at Susquehanna; tgt lowered to $25
    • Restaurant Brands Int'l (QSR) downgraded to Hold from Buy at Stifel; tgt lowered to $58
    • Scotts Miracle-Gro (SMG) downgraded to Hold from Buy at Stifel; tgt lowered to $116
    • Shift (SFT) downgraded to Neutral from Buy at BTIG Research
    • Teva Pharma (TEVA) downgraded to Underweight from Neutral at Piper Sandler; tgt lowered to $7
    • Vornado Rlty Trust (VNO) downgraded to Underweight from Neutral at Piper Sandler; tgt lowered to $35
    • WesBanco Inc (WSBC) downgraded to Underweight from Neutral at Piper Sandler; tgt $34
    • Workiva (WK) downgraded to Hold from Buy at Stifel; tgt lowered to $80
  • Others:
    • Block (SQ) resumed with an Outperform at Oppenheimer; tgt $150
    • Marqeta (MQ) initiated with an Outperform at Credit Suisse; tgt $13.50
    • MindMed (MNMD) initiated with a Buy at ROTH Capital; tgt $7
    • Nuvation Bio (NUVB) initiated with a Buy at H.C. Wainwright; tgt $14
    • Pegasystems (PEGA) initiated with a Neutral at Goldman; tgt $86
    • Sono Group N.V. (SEV) initiated with a Buy at B. Riley Securities; tgt $8

>>> US Gapping down

Gapping down
In reaction to earnings/guidance
:

  • IAG -26.5%, LYFT -24.7%, TUP -21.1%, INFN -16.2%, HLF -13.7%, AKAM -13.3%, WK -12.1%, ANDE -10.6%, BFAM -10.6% (also to acquire Only About Children for $320 mln), RVLV -10.3%, EAT -10.3%, AMRN -9.9%, NVTA -8.8%, IDXX -8.8%, JCI -8.2%, FRSH -6.3%, CWH -6.1%, BGFV -5.9%, MTCH -5.8% (also CEO to step down; names new CEO), KAR -5.6%, RNR -5.3%, MASI -5.2%, WING -5.2%, MTW -5.1%, GTE -4.6%, NWN -4.6%, SPT -4.2%, CNDT -4.1%, HZNP -3.9%, SWKS -3.4%, EVOP -3.1%, APG -2.8%, YUM -2.7%, EQX -2.6%, JHG -2.6%, VRSK -2.3% (also names new chairperson), LL -2.1%, MRCY -1.9%, GNW -1.8%, CRK -1.7%, RACE -1.5%, MCY -1.3%, BWA -1.2%, PRU -1.1%

Other news:

  • CNTB -30.9% (announces top-line results for Phase 2 trial for CBP-307)
  • KZR -26.9% (announces topline results from PRESIDIO Phase 2 trial of zetomipzomib)
  • DIDI -6% (SEC has made inquiries regarding its IPO)
  • TRC -4.1% (files for $200 mln mixed securities shelf offering)
  • PHAT -4% (FDA approves VOQUEZNA for H. pylori infection)
  • PRPL -1.5% (names new COO)

Analyst comments:

  • TEVA -3.8% (downgraded to Underweight from Neutral at Piper Sandler)
  • CVNA -2.8% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
  • LEG -2% (downgraded to Mkt Perform from Outperform at Raymond James)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance
:

  • LTHM +20.9%, OTLY +12.9%, SMCI +9.9%, PAYC +7.5%, GNRC +7.2%, MRNA +7%, ODP +7%, SBUX +6.6%, GEL +6.6%, THRM +6.1%, AMD +6%, LITE +5.9%, EHTH +5.8%, REZI +5.8%, VREX +5.4%, ABNB +5.3%, MUSA +5%, OSH +5%, LFUS +5%, LNG +4.7%, WERN +4.2%, PUMP +4.2%, BHG +4.2%, BDC +4.2%, INSP +4%, DOOR +3.8%, MSTR +3.7%, ASTE +3.7%, EQNR +3.6%, REG +3.4%, AIZ +2.9%, MAR +2.9%, CZR +2.8%, MATX +2.8%, LSCC +2.7%, CRUS +2.6%, AIG +2.5%, EIX +2.5%, IONS +2.5%, OMI +2.4%, FUN +2.3%, CRTO +2.3%, ATEN +2.2%, INSW +2.2%, STWD +2%, SPR +2%, CVS +1.9%, ATI +1.9%, TT +1.8%, VMC +1.8%, VVNT +1.7%, EXR +1.5%, WTS +1.5%, BRKR +1.5%, ONTO +1.4%, IOSP +1.3% (also increases dividend), REGN +1.3%, CDW +1.2%, WTI +1%, STAG +1%, EMR +1%

Other news:

  • BXC +9.7% (increases share repurchase authorization to $100 mln; enters into $60 mln accelerated repurchase agreement)
  • LDI +6.3% (announces planned launch of all-digital mello HELOC)
  • CMPX +4.7% (reports additional interim results from a Phase 2 study of CTX-009 in combination with paclitaxel in patients with biliary tract cancers)
  • NOG +2.1% (increases dividend; increases share repurchase authorization to $150 mln)
  • NOVA +1.8% (launches fixed discount offering for solar customers)
  • NDAQ +1.4% (reports April metrics)
  • CDE +1.3% (provides balance sheet and liquidity update)

Analyst comments:

  • SMG +3.9% (upgraded to Overweight from Neutral at JP Morgan)
  • MQ +1.2% (initiated with an Outperform at Credit Suisse)

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • LTHM +21.6%, SMCI +10.8%, VVNT +10%, LDI +9.9%, PAYC +7.5%, SBUX +6.2%, STAG +6.1%, AMD +5.9%, REZI +5.8%, VREX +5.4%, ABNB +5.2%, MUSA +5%, OSH +5%, LFUS +5%, BXC +4.9%, WERN +4.2%, PUMP +4.2%, INSP +4%, DOOR +3.8%, MSTR +3.4%, REG +3.4%, CZR +3%, AIZ +2.9%, CDE +2.6%, CRUS +2.6%, OMI +2.4%, EIX +2.3%, ATEN +2.2%, AYX +2.2%, YUMC +2.1%, NOVA +2%, MATX +1.9%, EQNR +1.9%, CNDT +1.8%, AIG +1.8%, GNRC +1.8%, LSCC +1.6%, NOG +1.5%, WTS +1.5%, NDAQ +1.4%, CWH +1.4%, ONTO +1.4%, IOSP +1.3%
  • Gapping down:
    • CNTB -30.4%, LYFT -27.3%, KZR -24.1%, INFN -22.3%, HLF -15.7%, AKAM -13.9%, WK -10.7%, BFAM -10.6%, RVLV -10.4%, MASI -8.4%, ANDE -8.1%, BGFV -7.1%, MTCH -6.4%, DIDI -5.5%, RNR -5.3%, FRSH -5.1%, MTW -5.1%, EXR -5%, IAG -4.7%, NWN -4.6%, GNW -4.3%, TRC -4.1%, GTE -3.5%, SWKS -3.2%, CRK -2.9%, BTG -2.8%, EQX -2.4%, PRPL -1.7%, FUN -1.5%, LL -1.5%, EHTH -1.4%, MCY -1.3%, SPT -1%

>>> US Gapping down

Gapping down
In reaction to earnings/guidance
:

  • CHGG -39.8%, EVER -24.8%, EL -8.7%, ROK -8%, LOGI -5.3%, JJSF -4.7%, PARA -4.7%, FN -4.5%, FRPT -4.4% (also launches $350 mln proposed follow-on offering), ORA -4.3%, TEVA -3.9%, VRNS -3.8%, INCY -3.8%, INST -3%, FLS -2.7%, HSC -2.7%, CLX -2.4%, KKR -2.3%, DD -2.1%, SPGI -2%, CMI -2%, MOS -1.8%, DEA -1.8%, MLM -1.7%, ANET -1.3%, WWD -1.2%, J -1.1%, PFE -1.1%, CNO -1%, KMT -1%

Other news:

  • HAYW -12.3% (stock offering)
  • DBVT -6.1% (establishes At-The-Market offering program)
  • CECE -2.1% (files for $150 mln mixed securities shelf offering)

Analyst comments:

  • CVNA -4.8% (downgraded to Equal Weight from Overweight at Wells Fargo)
  • MTTR -4.3% (downgraded to Neutral from Outperform at Wedbush)
  • DOCU -4.1% (downgraded to Underperform from Neutral at Wedbush)
  • AI -3.2% (downgraded to Neutral from Outperform at Wedbush)
  • K -2% (downgraded to Underweight from Neutral at Piper Sandler)
  • TSN -2% (downgraded to Underweight from Neutral at Piper Sandler)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance
:

  • ATKR +11.6%, HLIT +8.3%, CC +7.2%, CAR +6.9%, AMRC +6.1%, CDLX +6%, VNOM +5.8%, MED +5.3%, GEO +5.2%, NTR +5.1%, CACC +5%, BP +4.8%, MPWR +4.7%, ESPR +4.7%, CTLT +4.3%, AME +4%, SANM +3.8% (also increases buyback authorization by $200 mln), CTRA +3.6%, PEG +3.5%, IPI +3.4%, OTTR +3.4%, NTB +3.2%, LPX +3.2%, OHI +3.1%, CMS +3%, WMB +2.8%, VSH +2.8%, DVN +2.6% (also raises dividend by 27% and expands share buyback auth), ETRN +2.5%, AGCO +2.5%, NRZ +2.4%, HWM +2.3%, LEG +2.2%, VAL +2.1%, TRTN +1.8%, VNO +1.6%, WLK +1.6%, NXPI +1.5%, SEDG +1.5%, FIS +1.5%, MPLX +1.2%, DK +1.2%, AGNC +1.1%, EXPE +1.1%, BIGC +1.1%, AQUA +1%

Other news:

  • BLTE +14.1% (announces that LBS-008 an orally administered tablet has been granted Fast Track Designation by the U.S. Food and Drug Administration for the treatment of STGD1)
  • ASTS +12.1% (receives experimental license from FCC for BlueWalker 3 satellite testing)
  • STOK +6.7% (presents new in-vivo data)
  • TSHA +5.6% (granted orphan drug designation from the European Commission for TSHA-120)
  • LMDX +5% (stock offering)
  • GNW +3.2% ($350 mln share repurchase auth)
  • IMO +1.6% (announces terms of its substantial issuer bid for up to CAD2.5 bln)
  • CCL +1.2% (celebrates restart of entirety of Carnival Cruise Line fleet)
  • MPLX +1.2% (Whistler Pipeline expansion reaches final investment decision)
  • ACAD +1% (FDA Advisory Committee to host meeting to review sNDA for NUPLAZID on June 17)

Analyst comments:

  • API +4.2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • JAKK +3.8% (upgraded to Outperform from Market Perform at BMO Capital Markets)
  • ARGX +2.6% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • SHEN +2.6% (upgraded to Strong Buy from Outperform at Raymond James)

>>> US Research Calls

Research Calls

  • Upgrades:
    • Agora (API) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $12.50
    • argenx (ARGX) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt $375
    • Coca-Cola FEMSA (KOF) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $62
    • Erste Group Bank (EBKDY) upgraded to Outperform from Neutral at Exane BNP Paribas
    • First Interstate Bancsystem (FIBK) upgraded to Buy from Neutral at Janney; tgt $42
    • IdaCorp (IDA) upgraded to Equal Weight from Underweight at Wells Fargo; tgt raised to $110
    • JAKKS Pacific (JAKK) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt raised to $21
    • Marsh McLennan (MMC) upgraded to Overweight from Equal Weight at Wells Fargo; tgt $183
    • Mohawk (MHK) upgraded to Neutral from Underweight at JP Morgan; tgt raised to $156
    • Shenandoah Telecom (SHEN) upgraded to Strong Buy from Outperform at Raymond James; tgt $25
    • Sundial Growers (SNDL) upgraded to Market Perform from Underperform at BMO Capital Markets; tgt raised to $0.70
    • TriCo Bancshares (TCBK) upgraded to Buy from Neutral at Janney; tgt $49
    • Vertex Pharma (VRTX) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt $250
  • Downgrades:
    • Adidas AG (ADDYY) downgraded to Underperform from Neutral at Credit Suisse
    • Charter Comm (CHTR) downgraded to Neutral from Buy at BofA Securities; tgt $100
    • Chegg (CHGG) downgraded to Mkt Perform from Outperform at William Blair
    • C3.ai (AI) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $16
    • Carvana (CVNA) downgraded to Equal Weight from Overweight at Wells Fargo; tgt $65
    • Chegg (CHGG) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $21
    • Colgate-Palmolive (CL) downgraded to Neutral from Overweight at Atlantic Equities; tgt lowered to $80
    • Con Edison (ED) downgraded to Underweight from Equal Weight at Wells Fargo; tgt raised to $94
    • DocuSign (DOCU) downgraded to Underperform from Neutral at Wedbush; tgt lowered to $60
    • EverQuote (EVER) downgraded to Mkt Perform from Outperform at Raymond James
    • EverQuote (EVER) downgraded to Mkt Perform from Outperform at William Blair
    • Kellogg (K) downgraded to Underweight from Neutral at Piper Sandler; tgt lowered to $62
    • Matterport (MTTR) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $6
    • New York Community (NYCB) downgraded to Underweight from Equal-Weight at Stephens; tgt lowered to $9
    • Shift (SFT) downgraded to Equal Weight from Overweight at Wells Fargo; tgt $2
    • Tyson Foods (TSN) downgraded to Underweight from Neutral at Piper Sandler; tgt lowered to $81
  • Others:
    • Cano Health (CANO) initiated with a Buy at BofA Securities; tgt $8
    • Fiserv (FISV) initiated with a Buy at Loop Capital; tgt $125
    • NVIDIA (NVDA) resumed with an Equal-Weight at Morgan Stanley; tgt $217
    • Squarespace (SQSP) initiated with a Neutral at Goldman; tgt $24

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • ASTS +12.4%, CC +7.3%, STOK +6.7%, CAR +6.6%, MPWR +6.4%, AMRC +6.1%, NTR +5.8%, HLIT +5.6%, DVN +5.4%, MED +5.2%, GEO +5.2%, VNOM +5.1%, LMDX +5%, CACC +5%, CDLX +4.9%, BP +4.1%, SANM +3.8%, IPI +3.5%, OTTR +3.4%, NTB +3.2%, WMB +2.8%, MPLX +2.7%, SEDG +2.7%, OHI +2.7%, ANET +2.3%, RIG +2.2%, CCL +1.7%, GNW +1.6%, IMO +1.6%, BIGC +1.6%, VNO +1.6%, VAL +1.6%, MGM +1.5%, EXPE +1.4%, AGNC +1.3%
  • Gapping down:
    • CHGG -36.6%, EVER -15.4%, HAYW -14.8%, VRNS -10.9%, DBVT -6.1%, JJSF -4.7%, FN -4.5%, ORA -4.4%, LOGI -4.4%, DD -4.4%, FRPT -4.1%, INST -3%, FLS -2.7%, CECE -2.1%, CLX -1.9%, LPX -1.7%, MOS -1.3%, WWD -1.2%, CNO -1%, ATKR -0.9%