Gapping down
In reaction to earnings/guidance:
- LHX -3.5%, OTIS -2.7%, AKTS -1%
Other news:
- BB -6.2% (to sell legacy patents to Catapult for total consideration of $600 million)
- WOLF -5.4% (to offer $500 million aggregate principal amount of its Convertible Senior Notes due 2028 in a private offering)
- HOOD -4% (continued weakness)
- XERS -3.9% (files for $250 mln mixed securities shelf offering; also files for 15,358,362 share common stock offering by selling shareholder)
Analyst comments:
- GGAL -2% (downgraded to Underweight from Neutral at JP Morgan)
- K -1.6% (downgraded to Market Perform from Outperform at BMO Capital Markets)
- CVX -1% (downgraded to Hold from Buy at Truist)
Gapping up
In reaction to earnings/guidance:
- ATKR +5.7%, TT +0.5%
Other news:
- MDGL +14.3% (topline clinical data from the placebo-controlled, double-blind portion of its Phase 3 MAESTRO-NAFLD-1 safety study of resmetirom)
- TSHA +11.4% (Reports Positive Clinical Efficacy and Safety Data for High Dose Cohort and Long-term Durability Data for TSHA-120 in Giant Axonal Neuropathy)
- MNOV +9.3% (announced that it has received a notice of allowance from the Canadian Intellectual Property Office for a pending patent application which covers MN-001 and MN-002 for hepatic ballooning)
- LXP +5% (to Review Letter from Land & Buildings)
- GROY +4.8% (provides an update on its growth plans and its proposed acquisition of Elemental Royalties Corp)
- IPA +4.5% (antibodies PolyTope potently neutralizes the SARS-CoV-2 Omicron Variant -- moves towards FDA/IND-submission)
- ALT +4.2% (receives FDA Clearance of Pemvidutide; Enrollment in 48-week Phase 2 clinical trial expected to begin in Q1 2022)
- SEV +3.8% (provides corporate update)
- MESO +2.9% (provides Appendix 4C quarterly activity report)
- NFLX +2.5% (positive Barrons article)
- OSUR +2.4% (InteliSwab COVID-19 rapid tests have been authorized by the FDA for use in children ages 2-14)
- SPOT +2.1% (issues platform rules regarding COVID-19 after some artists pull songs from service in protest over misinformation from host Joe Rogan)
- CRNT +1.4% (signed a deal with Globacom to further expand its network and enable it to maintain its technology)
- DHC +1.4% (entered into a $703 mln joint venture for 10 properties in DHC's Office Portfolio segment with two global institutional investors)
- TSLA +1.3% (positive Barrons article)
- LSEA +1% (approved a $10 million stock repurchase program)
Analyst comments:
- BYND +4.2% (upgraded to Overweight from Underweight at Barclays)
- DLO +3% (upgraded to Buy from Hold at HSBC Securities)
- BEKE +2.6% (upgraded to Hold from Reduce at HSBC Securities)
- ARCT +1.3% (upgraded to Mkt Perform from Underperform at Raymond James)
- CACI +1.1% (upgraded to Outperform from Mkt Perform at Raymond James)
- ISRG +1.1% (upgraded to Overweight from Neutral at Piper Sandler)
- GMAB +1% (upgraded to Buy from Neutral at H.C. Wainwright)
Early premarket gappers
- Gapping up:
- SEV +6.4%, ATKR +5.7%, LXP +5%, MESO +2.9%, NFLX +2.6%, HUBS +2.2%, WCC +2.2%, TSLA +1.8%, TSM +1.5%, CRNT +1.4%, SPOT +1.2%, AMAT +1.2%, GOOG +0.9%, MU +0.9%, ASML +0.9%, QCOM +0.7%
- Gapping down:
- XERS -3.4%, HOOD -2.5%, WBA -0.8%
Carrefour buys a plot in the metaverse The Sandbox
Carrefour buys a plot in the metaverse The Sandbox
The Carrefour group has bought a plot in the video game The Sandbox, a self-proclaimed metaverse.
When it comes to testing emerging ideas, the Carrefour group is never the last. In 2018, Carrefour gave us an interview to talk about its ” blockchain chicken “, a meat traceability program which had the particularity of being based on a private blockchain to guarantee by inscriptions each step covered during processing – from the live animal to the cutlet in a blister pack.
In 2022, it is not surprising that Carrefour is seizing the concept in vogue: a tweet from Élodie Perthuisot, head of digital transformation, announces that the group has purchased a plot in “the metaverse” The Sandbox. A statement confirmed by the CEO of the Alexandre Bompard group : « innovation is at the heart of our model “, he claims, without specifying how a plot in a video game will allow Carrefour to move forward into the future.
Carrefour in The Sandbox: what for?
And this is precisely the question that many Internet users ask Élodie Perthuisot in response to her statement: what is it going to be used for? We remember a similar announcement in 2021, in which Carrefour had used the game’s map editor Fortnite to create ” The Healthy Map », become a mode of play in a supermarket environment where eating fruits and vegetables gives life (the healthy side). Difficult to see more than a work on the brand image of the group with a young audience. In other words, little innovation, lots of marketing.
A virtual world where brands multiply emptier than in a shopping area // Source: Tweet by Élodie Perthuisot
Most The Sandbox is less a game than an “open” experiment. The principle of this service is located on the border between Minecraft, the ancient Second Life, a “codeless” video game creator, a cryptocurrency exchange platform and a store to buy NFTs. Yes, all of these at once. Brands like Atari or Care Bears mainly sell character skins there. The main difference with the same concept on a game like Fortnite being that in The Sandbox, these clothes and looks for players are multi-thousand dollar NFTs – and released in limited quantities. There is also early access to Snoopverse, a kind of game and experience zone built for Snoop Dogg.
The plot that Carrefour bought at coordinates 33.147 is one of the possibilities of the system put in place by the developers of The Sandbox: bits of this virtual land can be privatized by brands or individuals. It is on these purchased areas that it is possible to create almost tailor-made experiences – almost, since in-game creation cannot exceed the limits of the game, namely a cubic universe à la Minecraft where characters move. Carrefour could very well create a supermarket there. skins for its customers, or a playful experience as is the case in Fortnite.
Crypto risks ‘destabilising’ emerging markets, says senior IMF official
Sharp price swings in cryptocurrencies are causing “destabilising” capital flows in emerging markets, and the use of crypto in place of traditional currencies poses “immediate and acute risks”, according to a senior official at the IMF.
“Crypto is being used to take money out of countries that are regarded as unstable [by some external investors],” said Tobias Adrian, the IMF’s financial counsellor and head of its monetary and capital markets department.
“It is a big challenge for policymakers in some countries,” Adrian said in an interview with the Financial Times, noting that “cryptocurrency markets have lost about $1tn in value since the peak”.
The IMF last week urged El Salvador to stop recognising bitcoin as legal tender, reiterating its warning that official adoption of the digital asset last year presented “large risks” for the stability and integrity of the country’s financial system.
Nayib Bukele, the president of El Salvador — which is seeking more than $1bn in financing from the IMF — plans to raise money by selling bonds linked to the world’s biggest cryptocurrency. The scheme has drawn criticism from some of the international investors that own debt already issued by the government.
Adrian said that some emerging markets and developing economies now faced “immediate and acute risks” as a result of their existing established currencies being replaced by crypto assets, a process that has been dubbed “cryptoisation”.
“Capital flow management measures will need to be fine-tuned in the face of cryptoisation,” said Adrian. “Applying established regulatory tools to manage capital flows may be more challenging when value is transmitted through new instruments, new channels and new service providers that are not regulated entities.”
Signs of closer correlation between the performance of cryptocurrencies and other financial assets in developed countries, such as US technology stocks, government bonds and even crude oil are also troubling the IMF.
Officials at the Washington-based fund believe that sharp deleveraging episodes in cryptocurrencies are feeding in to sell-offs in equity markets.
“The correlation between crypto and equity markets has been trending up strongly. Crypto is now very closely tied to what is happening in equities. We can’t just dismiss it,” said Adrian.
The IMF has urged national and global regulators to establish a co-ordinated, consistent and comprehensive approach to supervising cryptocurrencies — a daunting task, given the speed at which digital assets are moving into mainstream finance.
“Agreeing global regulations is never quick. But if we start now, we can achieve the goal of maintaining financial stability while also enjoying the benefits which the underlying technological innovations bring,” said Adrian.
>>> Up
* ARKEMA RAISED TO BUY VS HOLD AT BERENBERG, PT EU152
* Autoliv GDRs Raised to Buy at SEB Equities; PT 1,080 kronor (+)
* Autoliv GDRs Raised to Buy at Carnegie; PT 1,070 kronor
* Autoliv GDRs Cut to Hold at Pareto Securities; PT 800 kronor (+)
* Berkeley Raised to Hold at HSBC; PT 4,400 pence
* Beyond Meat Raised to Overweight at Barclays; PT $80 (+)
* Cellnex Raised to Neutral at New Street Research; PT 40 euros (+)
* Deutsche Bank Raised to Buy at Kepler Cheuvreux; PT 15.50 euros (+)
* Draegerwerk Raised to Hold at Bankhaus Metzler; PT 50 euros (+)
* Edenred Raised to Hold at Berenberg; PT 35 euros
* Electrolux Raised to Buy at Handelsbanken; PT 230 kronor
* Electrolux Raised to Neutral at JPMorgan; PT 220 kronor
* Electrolux Raised to Buy at Carnegie; PT 225 kronor
* Electrolux Professional Raised to Buy at SEB Equities (+)
* Ericsson Raised to Add at AlphaValue/Baader
* Fenix Outdoor Raised to Buy at Handelsbanken; PT 1,450 kronor
* Getinge Raised to Overweight at JPMorgan; PT 425 kronor
* Givaudan Raised to Market Perform at Bernstein
* Hexpol Raised to Buy at Carnegie; PT 120 kronor
* INWIT Raised to Buy at New Street Research; PT 12.50 euros (+)
* NCAB Group Raised to Buy at Carnegie; PT 85 kronor
* Sabre Insurance Raised to Hold at Berenberg; PT 231 pence
* Siemens Gamesa Raised to Outperform at Credit Suisse (+)
* Sinch Raised to Buy at Handelsbanken; PT 130 kronor
* Sobi Raised to Overweight at Barclays; PT 210 kronor (+)
* SThree Raised to Buy at Investec; PT 530 pence (+)
* Vantage Towers Raised to Buy at New Street Research; PT 35 euros (+)
>>> Down
* Anglo American Cut to Hold at Jefferies; PT 3,300 pence
* Carmila Cut to Hold at SocGen; PT 14.90 euros
* Klepierre Cut to Sell at SocGen; PT 20.40 euros
* NNIT Cut to Sell at SEB Equities; PT 88 kroner (+)
* Nokian Renkaat Cut to Hold at SEB Equities; PT 32 euros (+)
* PGS Cut to Add at AlphaValue/Baader
* Saipem Cut to Reduce at Banca Akros (ESN); PT 1.70 euros (+)
* Seabird Exploration Cut to Hold at Norne Securities; PT 3 kroner (+)
* SSAB Cut to Hold at Deutsche Bank; PT 59 kronor
* SSAB Cut to Hold at Handelsbanken; PT 50 kronor (+)
>>> Initiation
* Atome Energy Rated New Corporate at Finncap; PT 120 pence (+)
* Autogrill Rated New Hold at Deutsche Bank; PT 6.70 euros
* Grab Holdings Rated New Underperform at Autonomous Research (+)
* IAG Resumed Overweight at Morgan Stanley
* Norva24 Group Rated New Buy at Carnegie; PT 36 kronor (+)
* Quantafuel Rated New Sell at Nordea; PT 18 kroner (+)
* SSP Rated New Buy at Deutsche Bank; PT 333 pence
>>> Call
* Arkema Set for Multiple Expansion, Upgrade to Buy: Berenberg
* Bayer Upgraded to Buy as Citi Sees Improvement on ‘All Fronts’
* Beyond Meat Raised to Overweight at Barclays on Growth Prospects (+)
* Casino’s 2021 Guidance Cut Heralds Even Tougher 2022: Jefferies (+)
* Deutsche Bank Now a Credible Investment, Upgrade to Buy: Kepler (+)
* Edenred Loses Only Sell Rating as Berenberg Sees Balanced Risks
* Goldman Strategists See Downside Risks to Their S&P 500 Target (+)
* IAG Discount to Unwind, Resumed Overweight at Morgan Stanley
* KPN Results Solid, Buyback Should Be Well Received: Citi (+)
* Morgan Stanley’s Wilson Says Sell the Rally, This Is Bear Market (+)
* SocGen Strategists Favor Industrial Over Consumer Sectors (+)
* Activist Stake Report Implies Hidden Value in Vodafone: Goldman (+)
- Orpea (OPA TH) +5.1%
- Orpea Terminates CEO, Postpones Decision on Severance Pay
- BAE (BSP TH) +3.9%
- Vodafone (VODI TH) +3%
- Activist Investor Cevian Is Said to Build Stake in Vodafone
- Investor AB (IVSD TH) +2.9%
- EDP (EDP TH) +2.8%
- Ubisoft (UEN TH) +2.5%
- IAG (INR TH) +2.4%
- IAG Discount to Unwind, Resumed Overweight at Morgan Stanley
- Polymetal (PM6 TH) +2.4%
- ArcelorMittal (ARRD TH) +2.3%
- Halma (H11 TH) +2.3%
- Getinge (GTN TH) +2.3%
- Amplifon (AXNA TH) -1.9%