Gapping down
In reaction to disappointing earnings/guidance:
- IBM -5.3%, CMA -4.7%, EDU -4%, TRV -3.7%, ACC -3.5%, FITB -2.3%, SAP -2.2%, CDNS -2.1%, TW -1.9%, ZION -1.6%, SYF -1.5%, GO -1.3% (guides Q1 revs higher, but also announces stock offering by selling shareholders), HXL -1%
Select ETFs showing early weakness:
- USO -21.1%, XLE -4%, GDX -3.6%, SLV -3.6%, IWM -2.9%, DIA -2.3%, GLD -2%, SPY -1.8%, QQQ -1.2%
Other news:
- CACC -8.6% (delays 10-Q, sees likely adverse impact from COVID-19)
- TW -1.9% (files for 10.95 mln share common stock offering)
- DRI -1.8% (prices offering of 7,826,087 shares of common stock at $58.50 per share)
- ALB -1.7% (appoints J. Kent Masters as Chairman and CEO)
Analyst comments:
- CDLX -7.6% (downgraded to Underperform at BofA/Merrill)
- SLB -6.2% (downgraded to Sell from Hold at DZ Bank)
- GOLF -3.6% (downgraded to Sell from Neutral at Compass Point)
- ILMN -3.2% (downgraded to Neutral from Outperform at Robert W. Baird)
- CHWY -1.8% (downgraded to Neutral from Buy at UBS)
- LLY -1.1% (downgraded to Neutral from Buy at UBS)
Gapping up
In reaction to strong earnings/guidance:
- GPK +13.9%, EFX +7.2%, STLD +5.2%, SJM +1.7% (raises FY20 EPS and revenue guidance), CCK +1.5%, EMR +1.2%
Other news:
- APDN +27.3% (Applied DNA Sciences signs agreement with Stony Brook University Hospital for Applied DNA High-Sensitivity and High-Throughput COVID-19 diagnostic kit)
- CARA +20.4% (Cara Therapeutics and VFMCRP report positive results from global KALM-2 pivotal phase-III trial of KORSUVA)
- LH +4.5% (receives Emergency Use Authorization from FDA for COVID-19 at-home test kit)
- CWEN +4.3% (to acquire and invest in a portfolio of renewable energy projects)
- SGMO +3.2% (Sangamo Therapeutics and Mogrify announce collaboration and license agreement for iPSC- and ESC-derived regulatory T cells)
- CERS +2% (announces expansion of BARDA contract)
- CHH +0.8% (announces workforce reductions)
Analyst comments:
- TX +1.7% (upgraded to Buy from Neutral at Citigroup)
- TFC +1.1% (upgraded to Overweight from Neutral at Piper Sandler)
Early premarket gappers
- Gapping up:
- GPK +13.9%, EFX +7.2%, STLD +5.2%, CWEN +4.3%, SNA +2.9%, ALB +2.6%, SJM +2.3%, GVA +1.8%, CCK +1.5%, KO +1.2%, CHH +0.8%
- Gapping down:
- USO -19.7%, CACC -11.8%, EDU -5.4%, IBM -4.9%, DRI -4.5%, SYF -4.2%, XLE -4%, GDX -3.5%, ACC -3.5%, IWM -2.6%, CDNS -2.1%, TW -1.9%, DIA -1.8%, SAP -1.7%, SGMS -1.6%, ZION -1.6%, SPY -1.5%, SLV -1.3%, GO -1.3%, QQQ -1.1%, GLD -1%HXL -1%
>>> Up
* Assa Abloy Raised to Buy at Jefferies; PT 217 kronor
* Aurubis Raised to Add at Baader Helvea; PT 47.50 euros
* BAE Raised to Buy at AlphaValue
* Basic-Fit Raised to Buy at Berenberg; PT 28 euros
* Croda Raised to Buy at Liberum; PT 5,100 pence
* Givaudan Raised to Buy at Liberum; PT 3,588 Swiss francs
* J D Wetherspoon Raised to Buy at Jefferies; PT 1,150 pence
* Jyske Raised to Buy at SEB Equities; PT 192 kroner
* Mol Raised to Buy at Erste Group; PT 2,640 forint (+)
* Petropavlovsk Raised to Buy at BofA (+)
* Probi Raised to Buy at SEB Equities; PT 235 kronor
* Sartorius Stedim PT Raised to 202 euros at Oddo BHF (+)
* Symrise Raised to Hold at Liberum; PT 102 euros
>>> Down
* BASF Cut to Hold at Bankhaus Metzler; PT 49 euros (+)
* Centrica Cut to Reduce from Hold by HSBC; PT to 28p from 80p
* Covestro Cut to Sell at Bankhaus Metzler; PT 27 euros (+)
* Daetwyler Cut to Add at Baader Helvea; PT 185 Swiss francs
* DNB PT Cut to 94 kroner from 125 kroner at Jefferies
* Europcar Cut to Hold at SocGen; PT 1.70 euros (+)
* Faurecia SE Cut to Hold at SocGen; PT 34 euros (+)
* GTT Cut to Hold at SocGen; PT 70 euros
* Heidelberger Druck Cut to Reduce at HSBC; PT 40 euro cents
* Incap Cut to Reduce at Inderes; PT 12 euros (+)
* Polar Capital Cut to Hold at Investec; PT 390 pence (+)
* Schoeller-Bleckmann Cut to Hold at Wiener Privatbank
* Simcorp Cut to Hold at Danske Bank Markets; PT 690 kroner (+)
* Telenor Cut to Hold at Berenberg; PT 165 kroner
* Tubacex Cut to Hold at Mirabaud Securities; PT 1.70 euros (+)
>>> Initiation
* Joules Reinstated Buy at Liberum on Ample Financial Flexibility (+)
>>> Call
* AB Foods’ Outlook Commentary ‘Fairly Downbeat,’ MS Says (+)
* Aurubis on Track for Long-Term Growth, Raised to Add: Baader
* Bayer May Reach 2020 Earnings Target Despite Virus, Citi Says (+)
* Danone 1Q Sales Reassuring, Guidance Withdrawal ‘Logical’: Citi (+)
* RBC Sees London Office Rents Slumping, Cuts Landlord Estimates
* SAP 1Q Results Play Second Fiddle to co-CEO’s Departure: Citi (+)
* Sika Target Confidence ‘Reassuring,’ Jefferies Says (+)
* Stora Enso Set for Boost From 1Q Earnings Beat: Handelsbanken (+)
* Symrise, Givaudan to Boost Revenue in 1H; Croda Safe: Liberum (+)
* Tele2 Shares to Underperform After 1Q Report: Handelsbanken (+)
* U.K. Pub Estimates Slashed But Wetherspoon Upgraded: Jefferies
* U.K. Homebuilder Shares Have Upside, Liberum and Jefferies Say (+)
- Bakkafrost (6BF TH) +1.2%
- Equinor (DNQ TH) +0.5%
-
Assa Abloy (ALZC TH) +0.2%
- Assa Abloy Seen Emerging Stronger From Crisis, Jefferies Says
- BMW (BMW TH) -2.6%
-
SAP (SAP TH) -2.7%
- SAP Breaks Up Co-CEO Role After Virus Brought Leadership Problem
- Daimler (DAI TH) -2.7%
- MTU Aero (MTX TH) -2.7%
- VW (VOW3 TH) -2.8%
- Commerzbank (CBK TH) -3.1%
- Infineon (IFX TH) -3.3%
- Porsche SE (PAH3 TH) -3.3%
- Diageo (GUI TH) -3.4%
-
Shell (R6C TH) -3.8%
- Pharos Energy No Longer Interested in Shell Egypt Assets
DAX:
- Vonovia (VNA TH) -1.6%
- Daimler (DAI TH) -2.4%
- HeidelbergCement (HEI TH) -2.4%
- MTU Aero (MTX TH) -2.5%
- VW (VOW3 TH) -2.5%
- Infineon (IFX TH) -3.6%
MDAX:
- Hochtief (HOT TH) -2.4%
- Airbus (AIR TH) -2.5%
- Fraport (FRA TH) -2.6%
- Commerzbank (CBK TH) -2.8%
- Varta (VAR1 TH) -3.7%
SDAX:
- Borussia Dortmund (BVB TH) +4.9%
- Leoni (LEO TH) +2.5%
- Germany’s Leoni Gets Government Backing for $359 Million Loan
- DIC Asset (DIC TH) -1.6%
- Nordex (NDX1 TH) -2%
- 1&1 Drillisch (DRI TH) -2.1%
- SAF-Holland SE (SFQ TH) -2.6%
- Steinhoff (SNH TH) -5.1%