Early premarket gappers
- Gapping up:
- SPWR +8.9%, HLX +7.2%, HLBZ +5.5%, RIDE +4.5%, MRK +4.2%, NAT +3.1%, IFF +2.5%, XPEV +2.1%, GD +1.7%, QTNT +1.7%, HAE +1.6%, OLMA +1.5%, NIO +1.5%, FLR +1.4%, JEF +1.2%, TNGX +0.9%, ALSN +0.9%, LI +0.9%, ZM +0.7%
- Gapping down:
- PDCE -3.4%, LODE -2.6%, LCAP -2.1%, GILD -1.5%, TWOU -1.4%, SLGN -1.3%, FHN -1.2%, EA -1%, XOM -0.8%, GSK -0.7%, BA -0.5%, GE -0.5%
U.S. and European futures started October on the back foot alongside Asian stocks, after overnight losses in the S&P 500 capped its biggest monthly selloff since March 2020.
Shares slumped in Japan and Australia, and a gauge of Asian stocks hit its lowest in more than a month. China began a week-long holiday and Hong Kong’s market was shut Friday. The S&P 500closed at the lowest level since July, extending its September losses to almost 5%. Economically sensitive companies like industrials and financials were among the worst performers. Infighting among President Joe Biden’s Democrats signals his big spending plans will likely be both delayed and reduced.
Treasuries edged higher, with the 10-year yield dipping below 1.50%. The dollar added to gains for the week. Crude oil fluctuated after a tumultuous session during which China was said to order its top energy companies to secure supplies at all costs amid shortages, prompting the White House to reiterate its own concerns over rising prices.
Macro :
- Coalition Uncertainty Casts Shadow Over DAX Growth: 2021 Outlook
Keep an eye on :
- ACX SM : Acerinox Offering by Holder Nippon Steel Prices at EU10.55/Share
- AI FP : Vinci, Air Liquide, TotalEnergies Launch EU1.5B Hydrogen Fund
- AO/ LN : AO World Sees FY Group Adj. Ebitda Between GBP35m-GBP50m
- BARN SW : Barry Callebaut Names Van Sligter President EMEA per Oct. 1
- PRSM LN : Blue Prism Investor Coast to Reject $1.5 Billion Vista Takeover
- BNTX US : BioNTech Reports First Patient Dosed in Colorectal Cancer Study
- CPI LN : Capita to Sell Secure Solutions and Services Business (1)
- ACAF P : Credit Agricole Confirms Talks to Sell Moroccan Unit
- DAI GY : Daimler Plans Renaming to Mercedes-Benz Group in Feb. 2022
- DAI GY : Daimler Investors to Vote on Splitting Mercedes From Trucks
- DANSKE DC : Danske Bank Signs IT Deal With Amazon, FinansWatch Says
- ERM LN : Euromoney Sees FY Adj. Pretax Pre-IAS 38 Impact Ahead of Ests.
- ERF FP : Eurofins Says Court Backs Viracor in Patent Infringement Case
- ICAD FP : Icade Sante Says Market Conditions Make IPO Impossible
- INGA NA : ING's 1.7 Billion-Euro Buyback Confirms Sector Catalyst: React
- JGW LN : JD Wetherspoon Like-for-Like Sales Down 8.7% in First Nine Weeks
- JUVE IM : Juventus Loses Only Buy Rating on Slow Recovery, Ronaldo Exit
- JUVE IM : Juventus Loses Only Buy Rating on Slow Recovery, Ronaldo Exit
- KOG NO : Kongsberg Wins Contract With USMC for C-UAS Capability
- LEO GY : Leoni Plans to Sell Industrial Solutions Unit to BizLink
- LUCE LN : Luceco New RCF to Provide Group With Borrowing of Up to GBP120m
- LUNE SS : Lundin Energy Reports First Oil From the Solveig Field
- LUN DC : Lundbeck Says U.S. Court Upheld Patent Rights to Trintellix
- PDX SS : Paradox Interactive Cancels Games, Takes SEK135m Writedown
- PRY IM : Prysmian: Notice to Proceed for EU200M U.S. Wind Farm Project
- RAND NA : Randstad Acquires Cella at Enterprise Value EU112m
- RNO FP : French Sept. New Car Registrations Drop 20.47%: PFA
- RNO FP : Renault to Receive EU930.6m Dividend From RCI Finance Arm
- SAP GY : SAP Accused of Lack of Diversity in Singapore High Court
- VWS DC : Vestas 3Q Wind Turbine Orders Reach 3,167MW After Late Rush
- DG FP : Vinci, Air Liquide, TotalEnergies Launch EU1.5B Hydrogen Fund
>>> Up
* Assura Raised to Buy at Panmure Gordon; PT 78 pence
* BHP Group PLC Raised to Buy at SBG Securities; PT 2,070 pence
* HSS Hire Raised to Buy at Liberum; PT 24 pence
* Huber + Suhner Raised to Buy at Mirabaud Securities
* Molecular Partners Raised to Buy at Kempen & Co
* Primary Health Raised to Buy at Panmure Gordon; PT 172 pence
>>> Down
* BEWi Cut to Hold at Nordea
* Sartorius Stedim Biotech Cut to Hold at SocGen; PT 500 euros
* Sartorius Cut to Hold at SocGen; PT 579 euros
* Sulzer Cut to Hold at Bank Vontobel; PT 94 Swiss francs
* Sulzer Cut to Hold at Bank Vontobel; PT 94 Swiss francs
* Telefonica Deutschland Cut to Underperform at Exane; PT 2 euros
* T-Mobile Cut to Sell at Redburn
* Wizz Air Cut to Hold at Wood & Company; PT 5,700 pence
>>> Initiation
>>> Initiation
* Adevinta Resumed Neutral at Citi; PT 160 kroner
* Altice Rises After Evercore Says Selloff May Be an Opportunity
* *GENETIC ANALYSIS OPENS AT NOK8, IPO AT NOK7.80
* Pacifico Renewables Yield Rated New Buy at Berenberg
* Sequana Medical Rated New Buy at HC Wainwright; PT 12 euros
* Universal Music Group Rated New Buy at ING; PT 30 euros
* Universal Music Group Rated New Buy at ING; PT 30 euros
* Universal Music Group Rated New Overweight at JPMorgan
* Vitesco Technologies Group Rated New Neutral at Exane
>>> Call
>>> Call
* About You Has ‘Plenty of Upside,’ Baader Helvea Initiates at Add
* Allianz Back to Buy at Berenberg, Sees Investor Day as Catalyst
* Exane Sees M&A Frenzy in EU Towers; Vodafone/Totem Deal Likely
* Exane Sees M&A Frenzy in EU Towers; Vodafone/Totem Deal Likely
DAX:
- BMW (BMW TH) +0.8%
- BMW Lifts Guidance as Higher Car Prices Counter Chip Shortage
- Deutsche Bank (DBK TH) -1.3%
- Infineon (IFX TH) -1.3%
- Linde (LIN TH) -1.4%
- SAP (SAP TH) -1.6%
- SAP Accused of Lack of Diversity in Singapore High Court
- Porsche SE (PAH3 TH) -1.7%
MDAX:
- Evotec SE (EVT TH) -0.8%
- Lufthansa (LHA TH) -0.8%
- K+S (SDF TH) -0.9%
- Lanxess (LXS TH) -1%
- Freenet (FNTN TH) -1.2%
- Aixtron (AIXA TH) -1.3%
- Commerzbank (CBK TH) -1.5%
- Telefonica Deutschland (O2D TH) -2.3%
- Exane Sees M&A Frenzy in EU Towers; Vodafone/Totem Deal Likely
SDAX:
- PVA TePla (TPE TH) +1.1%
- Nordex (NDX1 TH) -0.5%
- Nordex Gets Order for 99.5 MW From Oweninny Power DAC
- Bilfinger (GBF TH) -0.6%
- Aareal Bank (ARL TH) -0.7%
- Aareal Bank Investor Cuts Voting Rights to 8.92%
- Fielmann (FIE TH) -1.1%
- 1&1 (DRI TH) -1.5%
- Vodafone (VODI TH) +2.1%
- Exane Sees M&A Frenzy in EU Towers; Vodafone/Totem Deal Likely
- BMW (BMW TH) +0.4%
- BMW Lifts Guidance as Higher Car Prices Counter Chip Woes
- BMW Guidance Uplift Largely Priced in on Positive Outlook: React
- Ahold Delhaize (AHOG TH) -1.5%
- Linde (LIN TH) -1.5%
- Porsche SE (PAH3 TH) -1.7%
- SAP (SAP TH) -1.7%
- Kone (KC4 TH) -1.7%
- Sartorius (SRT3 TH) -1.7%
- ASMI (AVS TH) -1.8%
- TUI (TUI1 TH) -1.9%
- Bechtle (BC8 TH) -2%
- Smurfit Kappa (SK3 TH) -2.9%
After Hours Summary: Quiet after hours; JEF ticks +1.2% higher on earnings; SPWR jumps +9.9% on being added to S&P MidCap 400After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: JEF +1.2%
Companies trading higher in after hours in reaction to news: SPWR +9.9% (to join S&P MidCap 400), HLBZ +6% (announces purchase of PIPE offering units by its CEO), IFF +4.4% (CEO to retire), FLR +1.7% (awarded $1.2 bln Navy contract), ALSN +0.9% (formalizes collaboration with SAIC Hongyan on electric axle integration), GD +0.9% (awarded $480 mln Navy contract), GE +0.8% (awarded $280 mln Defense Logistics Agency contract), GSK +0.5% (awarded $280 mln Army contract for Sotrovimab), OLMA +0.5% (announces trials in progress poster on OP-1250), SMBK +0.2% (to sell portfolio of loans and certain assets to First Bank), GILD +0.2% (Kite submits sBLA to the FDA for earlier use of Yescarta in large B-cell lymphoma), XOM +0.2% (provides operating factors likely to Q3 results), PRMW +0.1% (names new COO), CIT +0.1% (CIT and FCNCA extend merger agreement), CNP +0.1% (increases dividend), AZRE +0.1% (names new chairman), BA +0.1% (awarded $390 mln Army contract)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: None
Companies trading lower in after hours in reaction to news: CRXT -2.8% (stock offering), PDCE -1.8% (preliminary operating results for Q3, sees FY21 oil production below prior guidance range), HAE -0.6% (VASCADE MVP receives FDA indication for same-day discharge following atrial fibrillation ablation), TNGX -0.6% (announces presentation of preclinical data on lead program and discovery platform), EA -0.6% (makes mgmt changes; CFO to depart next summer), AL -0.2% (Italian airline to lease 31 new AL aircraft), TWOU -0.1% (files mixed securities shelf offering)