Gapping up
News:
- OCDX +11% (Ortho Clinical Diagnostics to be acquired by Quidel Corporation (QDEL) for $24.68/share)
- SGMS +9.4% (SGMS withdraws all-stock offer to acquire remaining 19% interest in SCPL)
- NKLA +3.6% (co tweets showing its first customer delivery)
- PHG +2.5% (provides update on the test and research program in connection with the CPAP BiPAP and Mechanical Ventilator recall)
- SQM +2.1% (announces special dividend)
- NILE +2.1% (acquires a portfolio of Four Marriott (MAR) and Hilton (HLT) hotels for $69 mln)
- NVAX +2% (two-dose of NVX-CoV2373 demonstrated cross-reactive immune responses against Omicron)
- NFGC +2% (provides 2022 outlook commentary)
- ENDP +1.7% (enters agreement for Paladin Labs to commercialize SK Biopharmaceuticals' XCOPRI in Canada)
- UGRO +1% (announces partnership with King Solomon Nutrients)
- PCH +1% (acquires timberlands in southern Arkansas and northern Louisiana)
Analyst comments:
- HYZN +2.7% (initiated with a Buy at Canaccord Genuity)
- IKNA +1.1% (initiated with a Buy at H.C. Wainwright)
Early premarket gappers
- Gapping up:
- NVAX +5.6%, SGMS +4.7%, NKLA +3.5%, PHG +3.1%, ARQT +1.9%, ENDP +1.9%, UGRO +1%, PCH +1%, NVS +0.7%, BANR +0.6%
- Gapping down:
- SCPL -17.3%, AVO -9.2%, JD -8.2%, DKL -3.3%, ROIV -2.1%, KREF -1.7%, NFGC -1.7%, AEM -1.4%, RKLB -1.2%, WEN -1%, TFC -0.9%
DAX:
- Continental (CON TH) +2.1%
- Continental CEO Sees FY Margin at Upper End of Forecast: WiWo
- Porsche SE (PAH3 TH) +0.4%
- Fresenius SE (FRE TH) +0.3%
- Allianz (ALV TH) +0.1%
- Allianz Invests SEK7.9b in Heimstaden Bostad Portfolio, Forms JV
- Daimler (DAI TH) +0.1%
- Deutsche Post (DPW TH) -0.1%
- SAP (SAP TH) -0.1%
- Deutsche Boerse (DB1 TH) -0.1%
- Bayer (BAYN TH) -0.2%
- E.On (EOAN TH) -0.2%
- U.K. Energy Firms Get $2.4 Billion for Taking New Customers
MDAX:
- Aixtron (AIXA TH) +1.7%
- Fuchs Petrolub (FPE3 TH) +0.5%
- Thyssenkrupp (TKA TH) +0.4%
- Deutsche Wohnen (DWNI TH) +0.1%
- ProSieben (PSM TH) flat
- K+S (SDF TH) flat
- DWS Investment GmbH Cuts K+S Voting Rights to 2.98%
- Freenet (FNTN TH) -0.1%
- Commerzbank (CBK TH) -0.1%
- Lufthansa (LHA TH) -0.3%
- Watch Travel Stocks on Omicron Optimism, Ryanair Warning
- United Internet (UTDI TH) -0.4%
- United Internet CEO Dommermuth to Boost Stake to 50.1%
SDAX:
- Metro (B4B TH) +1.2%
- Deutz (DEZ TH) +1%
- Schaeffler (SHA TH) +0.1%
- Adler Group (ADJ TH) +0.1%
- Adler-Linked Firm Holders Should Vote Down Auditor: Adviser
- GFT (GFT TH) Flat
- Heidelberger Druck (HDD TH) -0.2%
- MorphoSys (MOR TH) -0.3%
- Vitesco (VTSC TH) -0.3%
- DIC Asset (DIC TH) -0.5%
Stocks advanced Thursday after the latest coronavirus studies stirred hopes that the global recovery can weather the omicron flareup.
Japan helped MSCI Inc.’s Asia-Pacific share index rise for a third day. Technology stocks in Hong Kong lagged amid a slide in JD.com Inc. on Tencent Holdings Ltd.’s plan to distribute shares in the online retailer as a one-time dividend. Trading volumes thinned in many markets ahead of Christmas.
European futures were in the green and U.S. contracts were steady after the S&P 500 closed in on its record high. Brighter U.S. consumer confidence and home sales aided sentiment, as did studies signaling omicron may be less likely to land patients in hospital than the delta variant.
But officials remain cautious since omicron spreads quickly. In China, the city of Xi’an was locked down to curb a Covid outbreak, the latest escalation in the nation’s efforts to extinguish local transmission of the delta strain.
The dollar held most of a drop from U.S. hours and Treasury yieldswere steady. Oil rose to about $73 a barrel. Bitcoin slipped toward $48,000.
US After Hours NVAX +5.7% higher on positive vaccine news; SGMS jumps +8.6% after it withdraws offer for SCPL -19%; NKLA +5.6% higher on tweet showing first customer delivery
Nikkei +0.83% Hang Seng +0.47% CSI +0.55% Shanghai +0.44% Shenzen +0.29%
Eur$ 1.1336 CNH 6.3759 CNY 3.3697 JPY 114.20 GBP 1.3351 CHF 0.9194 RUB 73.5409 TRY 11.9445 WTI$ 72.92 +0.25% Gold 1805.10 +0.089% BTC 48,500 -1.15% ETC 3,960 -1.4%
S&P +0.07% Nasdaq +0.01% EuroStoxx +0.55% FTSE +0.48% Dax +0.48% SMI +0.47%
Macro :
- Bundesbank Sees ‘Increasing Vulnerabilities’ in Financial System
Macro :
- Bundesbank Sees ‘Increasing Vulnerabilities’ in Financial System
- Omicron Hospitalization Risk Below Delta’s in Early Studies
- Russia Builds Up Forces Near Ukraine Even as U.S. Offers Talks
- China Locks Down City of 13 Million in Protracted Covid War
- Odey fund manager leaves his boss in the shade with £15.6m payout
- EU, UK Reach Fishing Deal on Their Shared Stocks
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Wins EU10b Helicopter Contract for French Armed Forces
- ALV GY : Allianz Invests SEK7.9b in Heimstaden Bostad Portfolio, Forms JV
- DSC2 NA : SPAC Dutch Star Companies TWO and Cabka Agree on Combination
- ALCAR FP : Carmat Finds Causes of Heart Issue, Working to Resume Implants
- CON GY : Continental CEO Sees FY Margin at Upper End of Forecast: WiWo
- CON GY : Continental CEO Sees FY Margin at Upper End of Forecast: WiWo
- ECO NO : EcoOnline Buys Munio for NOK58m in Cash, Share Deal
- ENT LN : Merger Talk in U.K. Newspapers: Entain/Sisal
- GALP PL : Portugal’s ENSE Says Gasoline Consumption Rose 19% in November
- G IM : Generali to Exercise Early Redemption on 6.416% Perpetual Notes
- HOLN SW : Holcim to Buy Malarkey Roofing Products for $1.35B in Cash
- H24 GY : Home24 Buys Butlers Group; Butlers Founder Becomes Home24 Holder
- IBAB BB : IBA Signs Contract With Proton Intnl for ProteusONE in Arkansas
- IMPN SW : Implenia Sells Stake in GCM to Focus on Core Portfolio
- ISP IM : Intesa: Holders of Overall 14.8% Stake Signed Consultation Pact
- TISG IM : Italian Sea Group Gets Perini Navi for EU80m in Auction
- JD US : Tencent’s JD Share Handout May Be Followed by Tech Peers: Guosen -10% in after Hours
- KIT NO : Kitron Offering of 17.9m Shares Prices at NOK19.5/Share
- NWG LN : NatWest Group Hit With Spoofing Lawsuit After Pleading Guilty
- NOVN SW : Novartis’s Cosentyx Wins FDA Approval for Pediatric Arthritis
- PHARM NA : Pharming Group, Sanofi Renew Manufacturing Partnership Agreement
- RNO FP : Renault Commercial Van Venture in China Heads for Restructuring
- RYA ID : Ryanair Cuts Earnings Guidance as Omicron Hits Travel Demand (1)
- TEG GY : TAG Immobilien to Acquire Robyg for EU550 Million
- UTDI GY : United Internet CEO Dommermuth to Boost Stake to 50.1%
- VIG AV : Vienna Insurance Group and Hungary Reach Agreement
- VOW GY : VW Passenger Cars to Invest EU18b in E-Mobility, Digitizing: HB
Stocks advanced Thursday after the latest coronavirus studies stirred hopes that the global recovery can weather the omicron flareup.
Japan helped MSCI Inc.’s Asia-Pacific share index rise for a third day. Technology stocks in Hong Kong lagged amid a slide in JD.com Inc. on Tencent Holdings Ltd.’s plan to distribute shares in the online retailer as a one-time dividend. Trading volumes thinned in many markets ahead of Christmas.
European futures were in the green and U.S. contracts were steady after the S&P 500 closed in on its record high. Brighter U.S. consumer confidence and home sales aided sentiment, as did studies signaling omicron may be less likely to land patients in hospital than the delta variant.
But officials remain cautious since omicron spreads quickly. In China, the city of Xi’an was locked down to curb a Covid outbreak, the latest escalation in the nation’s efforts to extinguish local transmission of the delta strain.
The dollar held most of a drop from U.S. hours and Treasury yieldswere steady. Oil rose to about $73 a barrel. Bitcoin slipped toward $48,000.
US After Hours NVAX +5.7% higher on positive vaccine news; SGMS jumps +8.6% after it withdraws offer for SCPL -19%; NKLA +5.6% higher on tweet showing first customer delivery
Nikkei +0.83% Hang Seng +0.47% CSI +0.55% Shanghai +0.44% Shenzen +0.29%
Eur$ 1.1336 CNH 6.3759 CNY 3.3697 JPY 114.20 GBP 1.3351 CHF 0.9194 RUB 73.5409 TRY 11.9445 WTI$ 72.92 +0.25% Gold 1805.10 +0.089% BTC 48,500 -1.15% ETC 3,960 -1.4%
S&P +0.07% Nasdaq +0.01% EuroStoxx +0.55% FTSE +0.48% Dax +0.48% SMI +0.47%
Macro :
- Bundesbank Sees ‘Increasing Vulnerabilities’ in Financial System
Macro :
- Bundesbank Sees ‘Increasing Vulnerabilities’ in Financial System
- Omicron Hospitalization Risk Below Delta’s in Early Studies
- Russia Builds Up Forces Near Ukraine Even as U.S. Offers Talks
- China Locks Down City of 13 Million in Protracted Covid War
- Odey fund manager leaves his boss in the shade with £15.6m payout
- EU, UK Reach Fishing Deal on Their Shared Stocks
Keep an eye on :
Keep an eye on :
- AIR FP : Airbus Wins EU10b Helicopter Contract for French Armed Forces
- ALV GY : Allianz Invests SEK7.9b in Heimstaden Bostad Portfolio, Forms JV
- DSC2 NA : SPAC Dutch Star Companies TWO and Cabka Agree on Combination
- ALCAR FP : Carmat Finds Causes of Heart Issue, Working to Resume Implants
- CON GY : Continental CEO Sees FY Margin at Upper End of Forecast: WiWo
- CON GY : Continental CEO Sees FY Margin at Upper End of Forecast: WiWo
- ECO NO : EcoOnline Buys Munio for NOK58m in Cash, Share Deal
- ENT LN : Merger Talk in U.K. Newspapers: Entain/Sisal
- GALP PL : Portugal’s ENSE Says Gasoline Consumption Rose 19% in November
- G IM : Generali to Exercise Early Redemption on 6.416% Perpetual Notes
- HOLN SW : Holcim to Buy Malarkey Roofing Products for $1.35B in Cash
- H24 GY : Home24 Buys Butlers Group; Butlers Founder Becomes Home24 Holder
- IBAB BB : IBA Signs Contract With Proton Intnl for ProteusONE in Arkansas
- IMPN SW : Implenia Sells Stake in GCM to Focus on Core Portfolio
- ISP IM : Intesa: Holders of Overall 14.8% Stake Signed Consultation Pact
- TISG IM : Italian Sea Group Gets Perini Navi for EU80m in Auction
- JD US : Tencent’s JD Share Handout May Be Followed by Tech Peers: Guosen -10% in after Hours
- KIT NO : Kitron Offering of 17.9m Shares Prices at NOK19.5/Share
- NWG LN : NatWest Group Hit With Spoofing Lawsuit After Pleading Guilty
- NOVN SW : Novartis’s Cosentyx Wins FDA Approval for Pediatric Arthritis
- PHARM NA : Pharming Group, Sanofi Renew Manufacturing Partnership Agreement
- RNO FP : Renault Commercial Van Venture in China Heads for Restructuring
- RYA ID : Ryanair Cuts Earnings Guidance as Omicron Hits Travel Demand (1)
- TEG GY : TAG Immobilien to Acquire Robyg for EU550 Million
- UTDI GY : United Internet CEO Dommermuth to Boost Stake to 50.1%
- VIG AV : Vienna Insurance Group and Hungary Reach Agreement
- VOW GY : VW Passenger Cars to Invest EU18b in E-Mobility, Digitizing: HB
>>> Up
>>> Down
* NoHo Partners Cut to Reduce at Inderes; PT 8 euros
>>> Initiation
>>> Call
>>> Down
* NoHo Partners Cut to Reduce at Inderes; PT 8 euros
>>> Initiation
>>> Call
Thursday Morning Papers Summary
LA REPUBBLICA
-Mario Draghi has done it. The current prime minister of Italy has sent a ‘strong signal’ that he will resign shortly in order to formalize his candidature to serve as President of the Italian Republic. His resignation is a necessary step, given the constitutional rules, which do not allow a sitting minister to be eligible for the highest office of the land. In Italy, the office of Presidency does not have executive power. But it plays an important role as arbiter of the Constitution.
-At the end of yesterday's trading, Bolloré stock gained 11.54%, while the holding Compagnie de l'Odet gained 17.21%. The day was also positive for Vivendi (of which Bollore 'controls which rose by 4.49%. All this is due to a EUR5.7B offer that the Bolloré group received on Monday from the Mediterranean Shipping Company (MSC), a company based in Geneva and controlled by the Aponte family, one of the world's big names in the container and leisure shipping sector (boasting a fleet of 560 ships and 70,000 employees).
FRANKFURTER ALLGEMEINE ZEITUNG
-Does Bitcoin bring more freedom and opportunities - or more injustice and new feudal times? A conversation with financial expert Jon Danielsson about false hopes, cynical bets and mistakes in the financial system.
-The German Federal Ministry of Economics and Climate Protection, led by Robert Habeck (Greens), wants to massively accelerate the expansion of wind turbines and, if necessary, overcome resistance from individual federal states with legal regulations. “We already understand our role as a federal government in such a way that we solve such questions together. But if we don't come to an amicable agreement, we have to look at the possibilities offered by the Federal Building Act, for example,” announced Oliver Krischer (Greens), Parliamentary State Secretary in the ministry, speaking to Die Welt.
IL SOLE 24 ORE
-The first doses of Novavax, the "traditional" protein-based vaccine, should arrive in Italy as early as January and will be reserved for those who have not yet been vaccinated. Having received a pass from the EMA, the European Medicines Agency, Aifa , the Italian Medicines Agency, it has been authorized it as a vaccine for the administration of first jabs and therefore not for boosters. It will be the fifth authorized vaccine against Covid An indication that at this point reserves the use of this new antidote against Covid for those who decide to immunize themselves among the 6 million Italians who have so far decided not to get vaccinated.
-The world's largest fast food company, McDonald's, is suffering from a shortage of potato chips in Japan due to the global supply chain crisis due to the Covid pandemic and soaring raw material costs. The company said it is experiencing delays in shipments of the potatoes used to make its famous 'French Fries'. As a result, it has decided to reduce portions from Christmas Eve until December 30th.
LES ECHOS
-Hitherto considered low, the risk of transmitting Covid-19 in an airplane could increase with the Omicron variant said the International Air Transport Association. IATA has called for vigilance in the face of this highly transmissible strain.
-The European Commission has presented a draft directive to fight against these fictitious companies which aim to facilitate tax evasion for many. The shortfall is estimated at 60 billion euros in tax revenue each year. These empty shells make it possible to direct the financial flows of a business or a high net worth individual towards jurisdictions which provide for zero or very low taxation or which make it possible to easily circumvent taxes. Clearly, a shell company is just a letterbox through which the profits transit to tax havens.
HANDELSBLATT
-Never before have investors put so much money into German start-ups as in 2021. By September it was around 12.4 billion euros - more than twice as much as in the previous record year 2019. And yet the renowned start-up investor Klaus warns Hommels: "We are facing a billion-dollar gap."
-Bundesbank Vice-President Claudia Buch calls on German banks to be more vigilant for crises. “At the moment we are seeing increasing vulnerabilities and a declining risk awareness in the financial system - the focus everywhere is on the search for returns. That worries me," warns Buch in an interview with Handelsblatt.
ABC
-The International Monetary Fund is not confident that the pension reforms brought forth by Minister of Inclusion, Social Security and Migration, José Luis Escrivá, will have the beneficial effects on the future sustainability of the public pension system that he proclaims. On the contrary, the IMF predicts that the government reform will add 3.5 points of GDP of spending to the system by 2050 and will encourage doubts about its financial stability unless the Government acts sooner rather than later to introduce new measures to restore balance.
Tencent Slashes JD.com Stake With $16 Billion Dividend to Shareholders
China’s internet juggernaut was the largest backer of online retailer JD as part of its gamble on e-commerce
HONG KONG—Chinese social-media giant Tencent Holdings Ltd. TCEHY -1.69% is shedding most of its stake in JD.com Inc., JD 0.46% saying that the e-commerce company has grown to the point where it no longer requires Tencent’s financial backing.
Tencent on Thursday said it would distribute about 457 million shares of JD.com, worth roughly $16.4 billion, in the form of a special dividend to Tencent shareholders. The distribution leaves Tencent with a 2.3% stake in JD.com from 17% before, when it was JD’s largest shareholder.
Tencent’s shedding of its stake in JD effectively closes a chapter in which the social-media giant built up a stake in the rival of Alibaba Group Holding Ltd. to challenge it in China’s huge e-commerce market. It still retains significant stakes in other major e-commerce players such as food-delivery company Meituan and shopping giant Pinduoduo Inc.
As part of the new arrangement, Tencent said its president, Martin Lau, resigned from the board of JD.com. Tencent said both companies would continue to maintain a business relationship despite the disposal of its stake.
Shares of JD.com fell 7.6% in morning trading in Hong Kong following the announcement of the distribution. Shares of Tencent rose 4.5%.
Tencent, best known for its ubiquitous social-media app WeChat and for its dominant presence in China’s online gaming market, has invested widely in tech companies domestically and overseas, becoming a significant backer of up-and-coming firms in social media, entertainment and electric vehicles.
Many of those bets have paid off handsomely amid China’s long-running boom in tech-company shares. In November, Tencent disclosed an investment portfolio worth the equivalent of $138 billion as of the end of September 2020, nearly 10 times the figure it reported four years earlier.
More recently, Tencent has been in the crosshairs of China’s regulatory crackdown on internet and other big tech companies, helping to send shares down about 20% this year.
In a research note, Thomas Chong, an analyst at investment bank Jefferies, said JD.com has seen healthy growth in its financials, including margins, revenue, profitability and cash flows. “JD has demonstrated solid execution over the past few years with continued improvement in fundamentals since 2014,” he said.
JD.com reported a 29% increase in revenue last year, with net income more than quadrupling to 49.4 billion yuan, or about $7.6 billion.