>>> Up
* Adidas Raised to Buy at DZ Bank; PT 210 euros
* Antofagasta Raised to Sector Perform at RBC; PT 760 pence
* Auto Trader Raised to Hold at Stifel; PT 400 pence
* Beiersdorf Raised to Hold at Jefferies; PT 90 euros
* Belimo Raised to Buy at Berenberg; PT 7,750 Swiss francs
* Bodycote Raised to Hold at Panmure Gordon; PT 477 pence
* Coloplast Raised to Neutral at JPMorgan; PT 813 kroner
* Compass Raised to Buy at Shore Capital (+)
* Compass Raised to Buy at Goldman; PT 1,600 pence
* Compass PT Cut to 1,200 pence from 1,850 pence at Deutsche Bank
* Danone Raised to Buy at Jefferies; PT 68.75 euros
* Dixons Carphone Raised to Buy at HSBC; PT 160 pence
* Elkem Raised to Buy at SEB Equities; PT 17 kroner
* Fresenius SE Raised to Buy at Commerzbank; PT 44 euros
* General Mills Raised to Market Perform at Bernstein; PT $57
* Getinge Raised to Buy at Handelsbanken; PT 200 kronor
* Heidelberger Druck Raised to Buy at Pareto Securities (+)
* HelloFresh Raised to Overweight at Morgan Stanley
* JM Raised to Hold at SEB Equities; PT 199 kronor
* Kellogg Raised to Market Perform at Bernstein; PT $66
* LVMH Raised to Buy at SBG Securities; PT 366 euros
* Man Group Raised to Buy at Citi
* Norsk Hydro Raised to Buy at SEB Equities; PT 26 kroner
* Ossur HF Raised to Buy at SEB Equities; PT 46 kroner
* Pandora Raised to Hold at SEB Equities; PT 200 kroner
* Partners Group Raised to Buy at Baader Helvea
* Rational Raised to Buy at Hauck & Aufhaeuser; PT 545 euros (+)
* Reckitt Raised to Hold at Jefferies; PT 5,275 pence
* *REPLY RAISED TO BUY FROM HOLD AT ALANTRA (+)
* Richemont Raised to Buy at SBG Securities; PT 65 Swiss francs
* Rightmove Raised to Equal-Weight at Morgan Stanley
* Siemens Healthineers Raised to Outperform at Credit Suisse (+)
* Snam Raised to Buy at Banca Akros (ESN); PT 4.90 euros (+0
* Sodexo Raised to Neutral at Goldman; PT 73 euros
* Softcat Raised to Buy at Berenberg
* Stratec Raised to Buy at LBBW; PT 74 euros
* Subsea 7 Raised to Overweight at Morgan Stanley; PT 65 kroner
* Technogym Raised to Neutral at Banca Akros (ESN); PT 5.80 euros (+)
* TGS Raised to Overweight at Morgan Stanley; PT 160 kroner
* Wizz Air Raised to Buy at HSBC; PT 2,800 pence
* Yara Raised to Outperform at Credit Suisse; PT 360 kroner (+)
>>> Down
* ABN AMRO GDRs Cut to Reduce at AlphaValue
* Airbus Cut to Sell at LBBW; PT 51 euros
* Air France-KLM Cut to Hold at HSBC; PT 4.50 euros
* AstraZeneca Cut to Add at AlphaValue
* AstraZeneca Cut to Hold at Intron Health; PT 7,000 pence
* BCP Cut to Reduce at AlphaValue
* Compass PT Cut to 1,400 pence from 2,000 pence at Liberum
* Deutsche Post PT Cut to 26 euros from 40 euros at Deutsche Bank (+)
* DWS Cut to Neutral at Citi
* Erste Cut to Add at AlphaValue
* Finnair Cut to Hold at SEB Equities; PT 3.50 euros
* Informa Cut to Add at AlphaValue
* Lufthansa Cut to Hold at HSBC; PT 9.60 euros
* Lufthansa Cut to Reduce at AlphaValue
* Maersk Drilling Cut to Equal-Weight at Morgan Stanley
* MTU Aero Cut to Underweight at JPMorgan; PT 92 euros (+)
* Odfjell Drilling Cut to Equal-Weight at Morgan Stanley
* Pendragon PT Cut to 8 pence from 17 pence at Berenberg 9+)
* PGS ASA Cut to Underweight at Morgan Stanley; PT 3.50 kroner
* RBI Cut to Add at AlphaValue
* RWE Raised to Buy at LBBW; PT 25 euros
* Saipem Cut to Equal-Weight at Morgan Stanley; PT 2.40 euros
* Sainsbury Raised to Buy at Shore Capital
* SAS Cut to Hold at HSBC; PT 9 kronor
* Siemens Healthineers Cut to Add at AlphaValue
* Wacker Chemie PT Cut to 44 euros from 70 euros at Berenberg
>>> Initiation
>>> Call
* AstraZeneca Governance, EPS Risk Prompt Cut to Hold by Intron
* Belimo, ‘Long-Term Winner at a Discount,’ Upgraded at Berenberg
* Compass Upgraded at Goldman, Shore Capital as Others Cut Targets (+)
* EU Asset Manager Valuations Not Compelling Enough Yet, Citi Says
* Antofagasta a Safe Place to Be For Now, RBC Upgrades Rating
* Rent Interruption Key Risk Now Facing U.K. Property: Peel Hunt
* IT Resellers Unlikely to Face Major Disruption, Berenberg Says
* Stay-at-Home Plays Preferred Among Internet-Services Stocks: MS (+)
* Switzerland’s Tecan, SFS to Come Out Stronger from Crisis: UBS
* Wm Morrison Update Confirms Defensive Merits, Jefferies Says (+)
* Wacker Chemie PT Cut to Street-Low as Industry Slows: Berenberg (+)
(CAPP.PA ALTT.PA) - ELLIOTT: ENDS OPPOSITION TO CAPGEMINI TAKEOVER OF ALTRAN - AMF FILING
-
HelloFresh (HFG TH) +5.5%
- HelloFresh Raised to Overweight at Morgan Stanley
- Glencore (8GC TH) -5.7%
-
Shell (R6C TH) -5.7%
- Goldman Says Big Oil to Maintain Dividends Despite Market Slump
- HeidelbergCement (HEI TH) -5.8%
- Schneider Electric (SND TH) -6%
- Banco Santander (BSD2 TH) -6.1%
- Iberdrola (IBE1 TH) -6.2%
- HSBC (HBC1 TH) -6.7%
-
Renault (RNL TH) -6.8%
- *EUROPEAN CAR-SALE SLIDE IS WORST TO START YEAR SINCE 2013: ACEA
- Bakkafrost (6BF TH) -8%
-
Air France-KLM (AFR TH) -8.3%
- Air France-KLM Cut to Hold at HSBC; PT 4.50 euros
DAX:
- Fresenius SE (FRE TH) -1.3%
- Fresenius SE Raised to Buy at Commerzbank; PT 44 euros
- Wirecard (WDI TH) -2.1%
- VW (VOW3 TH) -2.6%
- Deutsche Bank (DBK TH) -2.9%
- Deutsche Telekom (DTE TH) -3%
- SAP (SAP TH) -4.7%
- Daimler (DAI TH) -4.7%
- *EUROPEAN CAR-SALE SLIDE IS WORST TO START YEAR SINCE 2013: ACEA
- Continental AG (CON TH) -4.8%
- Deutsche Boerse (DB1 TH) -5.3%
- European Exchanges to Remain Open Despite Virus: Industry Group
- Covestro (1COV TH) -5.7%
MDAX:
- Qiagen (QIA TH) +1.6%
- Evonik (EVK TH) -4.3%
- Zalando (ZAL TH) -4.4%
- Fuchs Petrolub (FPE3 TH) -5.1%
- Cancom (COK TH) -5.1%
- Scout24 (G24 TH) -5.3%
SDAX:
- Heidelberger Druck (HDD TH) +9.5%
- Heidelberger Druck Sees up to 2,000 Job Cuts in Restructuring
- HelloFresh (HFG TH) +5.5%
- HelloFresh Raised to Overweight at Morgan Stanley
- Draegerwerk (DRW3 TH) +1.8%
- Nordex (NDX1 TH) -4.8%
- Deutsche Euroshop (DEQ TH) -6.3%
- Leoni (LEO TH) -6.4%
- 1&1 Drillisch (DRI TH) -6.5%
- LPKF (LPK TH) -8%
>>> Up
* Adidas Raised to Buy at DZ Bank; PT 210 euros
* Antofagasta Raised to Sector Perform at RBC; PT 760 pence
* Beiersdorf Raised to Hold at Jefferies; PT 90 euros
* Belimo Raised to Buy at Berenberg; PT 7,750 Swiss francs
* Bodycote Raised to Hold at Panmure Gordon; PT 477 pence
* Coloplast Raised to Neutral at JPMorgan; PT 813 kroner
* Compass Raised to Buy at Goldman; PT 1,600 pence
* Compass PT Cut to 1,200 pence from 1,850 pence at Deutsche Bank
* Danone Raised to Buy at Jefferies; PT 68.75 euros
* Dixons Carphone Raised to Buy at HSBC; PT 160 pence
* Elkem Raised to Buy at SEB Equities; PT 17 kroner
* Fresenius SE Raised to Buy at Commerzbank; PT 44 euros
* General Mills Raised to Market Perform at Bernstein; PT $57
* Getinge Raised to Buy at Handelsbanken; PT 200 kronor
* HelloFresh Raised to Overweight at Morgan Stanley
* JM Raised to Hold at SEB Equities; PT 199 kronor
* Kellogg Raised to Market Perform at Bernstein; PT $66
* LVMH Raised to Buy at SBG Securities; PT 366 euros
* Man Group Raised to Buy at Citi
* Norsk Hydro Raised to Buy at SEB Equities; PT 26 kroner
* Ossur HF Raised to Buy at SEB Equities; PT 46 kroner
* Pandora Raised to Hold at SEB Equities; PT 200 kroner
* Partners Group Raised to Buy at Baader Helvea
* Reckitt Raised to Hold at Jefferies; PT 5,275 pence
* Richemont Raised to Buy at SBG Securities; PT 65 Swiss francs
* Rightmove Raised to Equal-Weight at Morgan Stanley
* Sodexo Raised to Neutral at Goldman; PT 73 euros
* Softcat Raised to Buy at Berenberg
* Stratec Raised to Buy at LBBW; PT 74 euros
* Subsea 7 Raised to Overweight at Morgan Stanley; PT 65 kroner
* TGS Raised to Overweight at Morgan Stanley; PT 160 kroner
* Wizz Air Raised to Buy at HSBC; PT 2,800 pence
>>> Down
* ABN AMRO GDRs Cut to Reduce at AlphaValue
* Airbus Cut to Sell at LBBW; PT 51 euros
* Air France-KLM Cut to Hold at HSBC; PT 4.50 euros
* AstraZeneca Cut to Add at AlphaValue
* AstraZeneca Cut to Hold at Intron Health; PT 7,000 pence
* BCP Cut to Reduce at AlphaValue
* Compass PT Cut to 1,400 pence from 2,000 pence at Liberum
* DWS Cut to Neutral at Citi
* Erste Cut to Add at AlphaValue
* Finnair Cut to Hold at SEB Equities; PT 3.50 euros
* Informa Cut to Add at AlphaValue
* Lufthansa Cut to Hold at HSBC; PT 9.60 euros
* Lufthansa Cut to Reduce at AlphaValue
* Maersk Drilling Cut to Equal-Weight at Morgan Stanley
* Odfjell Drilling Cut to Equal-Weight at Morgan Stanley
* PGS ASA Cut to Underweight at Morgan Stanley; PT 3.50 kroner
* RBI Cut to Add at AlphaValue
* RWE Raised to Buy at LBBW; PT 25 euros
* Saipem Cut to Equal-Weight at Morgan Stanley; PT 2.40 euros
* SAS Cut to Hold at HSBC; PT 9 kronor
* Siemens Healthineers Cut to Add at AlphaValue
* Wacker Chemie PT Cut to 44 euros from 70 euros at Berenberg
>>> Initiation
>>> Call
* AstraZeneca Governance, EPS Risk Prompt Cut to Hold by Intron
* Belimo, ‘Long-Term Winner at a Discount,’ Upgraded at Berenberg
* EU Asset Manager Valuations Not Compelling Enough Yet, Citi Says
* Antofagasta a Safe Place to Be For Now, RBC Upgrades Rating
* Rent Interruption Key Risk Now Facing U.K. Property: Peel Hunt
* IT Resellers Unlikely to Face Major Disruption, Berenberg Says
* Switzerland’s Tecan, SFS to Come Out Stronger from Crisis: UBS
U.S. and European stock futures dropped and the yen advanced, retracing some of the previous day’s moves as traders continue to test where fundamental valuations lie amid rapidly changing news flow.
An early rally in Hong Kong stocks fizzled, leaving equities mixed across the Asia Pacific. The Sydney market lost more than 6%, while shares in Tokyo pared gains. S&P 500 futures once again fell by their limit after the index gained 6% on Tuesday. Stocks in China erased gains Wednesday afternoon, with the CSI 300 Index sliding to a decline after rising as much as 1.8%. Australian and Japanese bond yields were higher, while the sell-off in Treasuries appeared to ease. As the Trump administration moves toward a big fiscal package and the federal government shifts to working from home, Treasury Secretary Steven Mnuchin warned the coronavirus could send U.S. unemployment up to 20% without government intervention. Oil swung after slipping to the lowest since 2003.
US After Hours TGNA +16% gets offer to be acquired, AGN +2% (co and ABBV sign consent decree with FTC regarding pending acquisition), ABR +10.4% (approves $100 mln repurchase program), VKTX +8.9% (authorizes $50 mln stock repurchase program),; MDB -8.7% down on earnings, CRON -14.3% (to restate certain 2019 unaudited interim financial statements), BA -3.2% (says it has fully drawn on $13.8 bln credit agreement; also CNBC reports sources saying that BA is seeking tens of billions of dollars in aid; also co enters into 2-yr delayed draw term loan credit agreement)
Nikkei +0.54% Hang Seng -0.92% CSI +0.55% Shanghai +0.35% Shenzen +1.35%
Eur$ 1.1036 CNH 7.0250 CNY 7.0120 JPY 107.15 GBP 1.2111 CHF 0.9574 RUB 75.3565 TRY 6.4220 WTI$ 26.79 -0.63%
S&P -3.70% (Limit Down) Nasdaq -4.44% EuroStoxx -4.69% Dax -4.60% FTSE -5.27% SMI -3.80%
Macro :
- French Stock Market Regulator Bans Short-Selling for 30 Days
- Italy Market Watchdog Bans Short Selling for Three Months
- Mohammed bin Salman’s High-Stakes Plan to Win the Global Oil War
- Merkel Says Germany Will Consider Joint Bonds to Fight Virus
- U.K. to Relax Rules on Pub, Restaurant Take-Outs Amid Virus
- Cash-Parking ETFs Lure $5.7 Billion and Head for Best Month Ever
- Mnuchin Says Virus ‘Worse Than 9/11’ for Airlines, Promises Help
- Wall Street Regulators Weigh Rule Revisions to Free Up Capital
- Spain to Allocate as Much as 200 Billion Euros in Virus Aid
- Trump Told Mnuchin to Go Big, and a $1 Trillion Stimulus Emerged
Keep an eye on :
- ADS GY : Adidas to Temporarily Close Stores in Europe, U.S., Canada
- AGN US : Allergan-AbbVie Deal a Top Priority at the FTC, CTFN Says
- AMBU DC : Ambu Production Exempt From Malaysian Movement Control Order
- BARC LN : Barclays Is Unlikely to Reach Profitability Goal for the Year
- BKW sW : BKW Full Year Dividend Per Share CHF2.20 Vs. CHF1.80 Y/y
- BA US : Boeing Seeks More Than $20 Billion in Aid for Itself, Suppliers
- BPOST BB : Bpost 2020 Adjusted Ebit Forecast Misses Estimates
- CINE LN : Cineworld’s Liquidity Key Concern Amid Shutdown, Jefferies Says
- COV FP : Covivio Says It’s Pursuing Godewind Buy; To Update Outlook Later
- DAI GY : Daimler Suspends Most of Europe Production for Initial Two Weeks
- DBK GY : Deutsche Bank Hires Banker Kwok to Head West Coast Tech M&A
- DEZ GY : Deutz Full Year Adjusted Ebit Margin 4.3%
- DNB NO : DNB Says It’ll Take Up Loans Offered by Norwegian Central Bank
- ELIOR FP : Elior Cannot Determine Virus Impact on 2019-2020 Objectives
- ELIS FP : Elis to Temporarily Shut Some Plants, to Seek Covenant Waiver
- FCA IM : UAW Says It Asked Automakers to Shut Down Plants for Two Weeks
- FIN LN : U.A.E. Central Bank Takes Control of Finablr’s Exchange Business
- FIN LN : Finablr’s Short Life in London Threatens Foreign IPOs: ECM Watch
- FNAC FP : Fnac Darty Can’t Confirm 2020 Objectives
- GS US : Goldman Sachs Says It Accessed Fed Discount Window Today
- HMB SS : H&M Closes All Its Stores in Germany, U.S. Due to Coronavirus
- HDD GY : Heidelberger Druck Sees up to 2,000 Job Cuts in Restructuring
- ITX M : *INDITEX FY SALES EU28.28B, EST. EU28.16B
- JUVE IM : Juventus Says Second Player Tested Positive for Covid-19
- LLOY LN : Lloyds Banking Group Pauses Some Investment Over Coronavirus
- MC FP : Tiffany Temporarily Closing Many Stores, Flagship: Reuters
- NDA SS : Finnish FSA Lowers Banks’ Capital Requirements to Boost Lending
- OCDO LN : Ocado Primed to Capitalize Amid Virus Disruption, Berenberg Says
- ORP FP : Orpea Full Year Ebitda Misses Lowest Estimate
- QIA GY : Qiagen Ramps up Production of Extraction Kits For Virus Testing
- RNK LN : Rank Sees U.K. Venue Closures Result in Net Cash Costs of GBP25M
- RNO FP : Nissan Freezes Production in Spain on Coronavirus: Europa Press
- RNO FP : Nissan to Exit Auto Production in Indonesia, Kyodo News Reports
- SAS SS : SAS Gets $300 Million in Guarantees From Sweden, Denmark
- SBO AV : Schoeller-Bleckmann to Buy Back up to 4.375% of Share Capital
- GLE FP : SocGen Sees Companies Draw on Credit Lines ‘With No Real Need’
- SW FP : *SODEXO SUSPEND GUIDANCE CONFIRMED IN JAN. ON CORONAVIRUS
- STM GY : Stabilus Says 2020 Forecast No Longer Achievable
- SYDB DC : Sydbank Withdraws 2020 Forecast, Suspends Buyback
- SWEDA SS : Swedbank May Face Fines of Up To SEK6b: SVD
- TIF US : Tiffany Temporarily Closing Many Stores, Flagship: Reuters
- VER AV : Verbund Full Year Net Income Meets Estimates
- VOW GY : VW Stokes Doubt on $2.9 Billion Deal for Navistar; Shares Plunge
After Hours Summary: TGNA +16% gets offer to be acquired; MDB -8.7% down on earningsAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: GVA +3.5%, BILI +1.6%, FDX +0.6%, SMAR +0.2%
Companies trading higher in after hours in reaction to news: TGNA +16% (gets offer to be acquired and go private for $20/sh in cash), ABR +10.4% (approves $100 mln repurchase program), VKTX +8.9% (authorizes $50 mln stock repurchase program), CNK +5% (to temporarily close its 345 U.S. theatres), SDC +4% (comments on AADB Telehealth Directive), AGN +2% (co and ABBV sign consent decree with FTC regarding pending acquisition), QGEN +0.1% (to dramatically ramp up production capacity for coronavirus kits)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: MDB -8.7%, WH -0.3%
Companies trading lower in after hours in reaction to news: CRON -14.3% (to restate certain 2019 unaudited interim financial statements), BVN -8.4% (to limit activities amid Peruvian National Emergency), SAFE -6.6% (announces offering of 900,000 shares), FORM -3.7% (withdraws Q1 guidance), BA -3.2% (says it has fully drawn on $13.8 bln credit agreement; also CNBC reports sources saying that BA is seeking tens of billions of dollars in aid; also co enters into 2-yr delayed draw term loan credit agreement), VECO -2.5% (withdraws guidance for Q1 due to coronavirus), TGT -1.1% (to reduce store hours), ABBV -0.6% (co and AGN sign consent decree with FTC regarding pending acquisition), KEY -0.5% (to temporarily suspend share repurchases)
