-
Aroundtown (AT1 TH) +2%
- Aroundtown Boosts Full Year FFO I Per Share Forecast
- LVMH (MOH TH) +0.7%
-
Salmar (JEP TH) +0.6%
- Salmar Raised to Buy at Berenberg
-
ProSieben (PSM TH) +0.6%
- ProSieben at Non-Deal Roadshow Hosted By Kepler Cheuvreux Today
- Nemetschek (NEM TH) -0.3%
- Watch Design Software Stocks After Autodesk Forecast Misses
- Zalando (ZAL TH) -1.1%
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Hannover Re (HNR1 TH) -1.5%
- Hannover Re Cut to Equal-Weight at Morgan Stanley
-
Knorr-Bremse (KBX TH) -2.9%
- Knorr-Bremse Comfirms FY Forecast After 9-Month Ebitda Increase
DAX:
- Lufthansa (LHA TH) +0.6%
MDAX:
- Aroundtown (AT1 TH) +3%
- Aroundtown Boosts Full Year FFO I Per Share Forecast
- 1&1 Drillisch (DRI TH) +0.7%
- ProSieben (PSM TH) +0.7%
- Hannover Re (HNR1 TH) -1.5%
- Hannover Re Cut to Equal-Weight at Morgan Stanley
- Knorr-Bremse (KBX TH) -2.8%
- Knorr-Bremse Confirms FY Forecast After 9-Month Ebitda Increase
SDAX:
- TLG Immobilien (TLG TH) +2%
- Steinhoff (SNH TH) +1.7%
- DIC Asset (DIC TH) +1.4%
- Kloeckner (KCO TH) +1.3%
- Deutsche Euroshop (DEQ TH) -0.5%
- Deutsche Euroshop Cut to Reduce at HSBC; PT 24 euros
Stocks in Asia and U.S. futures drifted Wednesday as investors monitored developments on U.S.-China trade talks. Treasuries were little changed.
Benchmarks in Japan, Australia and South Korea eked out modest gains, with Hong Kong and Shanghai little changed. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all climbed to fresh records Tuesday. President Donald Trump declared that talks with China on the first phase of a trade deal were near completion after negotiators from both sides spoke by phone. The dollar edged up.
US After Hours BOX +2.8% moves higher while GES -4.6% declines following earnings/guidance
Nikkei +0.28% Hang Seng +0.03% CSI -0.50% Shanghai -0.24% Shenzen -0.32%
Eur$ 1.1014 CNH 7.0277 CNY 7.0276 JPY 109.15 GBP 1.2847 CHF 0.9977 RUB 63.9638 TRY 5.7674 WTI $ 58.30-0.19%
S&P +0.07% EuroStoxx +0.19% FTSE +0.14% Dax +0.23%SMI -0.06%
Macro :
- Goldman Says Stocks to Perform Best Among EM Assets in 2020
- Citadel’s Commodities Investments up at Least $1b for Year: Rtrs
Keep an eye on :
- ALO FP : Alstom Wins EU430M Marseille Metro Contract
- AM1 FH : Ahlstrom-Munksjo Seeks to Acquire Chinese Producer Minglian
- ASSAB SS : Assa Abloy Says Financial Targets Ambitious But Reachable: DI
- AT1 GY : Aroundtown Boosts Full Year FFO I Per Share Forecast
- SAN SM : Banco Santander Names Morgan Stanley’s Luis Isasi to Board
- BMW GY : BMW Plans to Cut 2019 Employee Bonus 15%-20%: Handelsblatt
- BVS LN : Bovis Faces Investor Opposition Over Executive Pay, Sky Says
- CCORB SS : Stena to Move Concordia Listing to Oslo From Stockholm, DI Says
- EMSN SW : EMS-Chemie Sells Subsidiary EMS-Patvag to Hirtenberger; No Terms
- ELAL IT : EL Al Israel Airlines 3Q Net Income Falls 35% as Costs Rise
- EVE SW : Evolva Board Proposes Beat in-Albon as New Chairman
- FBEN GY : Fyber Cuts FY Revenue, Adj. Ebitda Guidance
- FUTR LN : Future Plc CEO and Other Holders to Offer 3.1 Million Shares (1)
- KBX GY : Knorr-Bremse Comfirms FY Forecast After 9-Month Ebitda Increase
- LLOY LN : Lloyds Plans to Cut CEO Pay, Boost Package for Other Staff: FT
- DRLCO DC : Maersk Drilling Third-Quarter Revenue Beats Estimates
- KN FP : Natixis Says Case of Suspended Trader ‘Purely Internal’
- QDT FP : Quadient 3Q Sales EU278M; Raises FY Sales Organic Growth View
- RIO LN : Rio Lifts Iron Ore Spending to $4 Billion on Firm China Demand
- SEBA SS : SEB Has SEK475m Exposure to Magnitsky Case, Broadcaster SVT Says
- SF SS : Stillfront Seeks to Triple Company’s Size Within Five Years
- SRAIL SW : Stadler Rail Gets Azerbaijan Order Worth About EU115 Million
- TELIA SS : Sweden Opposition Demands Answers From Government on Telia Stake
- VIE FP : Veolia Starts Tender Offer to Buy Some Dollar-Denominated Notes
- ZO1 GY : Zooplus Names Maueröder CFO After Grandinger Decides to Leave
earnings/guidanceAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: BOX +2.8%, KEYS +1.9%, HPQ +1.5%, VMW +1.1%, VEEV +1%
Companies trading higher in after hours in reaction to news: MOV +1.2% (light volume; after closing lower by 20%)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: CENT -11.7% (lightly traded), GES -4.6%, ADSK -1%
Companies trading lower in after hours in reaction to news: ARAV -13.8% (commenced public offering of common stock); MNK -2%, TEVA -0.6% (continued pressure following reports of federal opioid probe); DLTR -0.5% (ongoing weakness following earnings)
>>> Up
* Cellnex Raised to Overweight at Morgan Stanley; PT 45 euros
* Salmar Raised to Buy at Berenberg
* Wartsila Raised to Neutral at JPMorgan; PT 9 euros
>>> Down
* Capital & Counties Cut to Hold at HSBC; PT 265 pence
* Compass Cut to Hold at Liberum; PT 2,000 pence
* Deutsche Euroshop Cut to Reduce at HSBC; PT 24 euros
* DiaSorin Cut to Hold at Berenberg; PT 118 euros
* Hannover Re Cut to Equal-Weight at Morgan Stanley
* Johnson Matthey PT Cut to 3,500 pence at Liberum
* Klepierre Cut to Hold at HSBC; PT 35 euros
* Mitchells & Butlers Cut to Hold at Berenberg; PT 480 pence
* Pennon Cut to Neutral at Citi; PT 950 pence
* Rolls-Royce Cut to Equal-Weight at Morgan Stanley; PT 800 pence
* Shaftesbury Cut to Underperform at Jefferies
>>> Initiation
* Big Yellow Group Rated New Underperform at RBC; PT 975 pence
* Cie des Alpes Rated New Buy at Berenberg; PT 39.40 euros
* Clariant Reinstated Neutral at Citi
* Norske Skog Rated New Buy at ABG; PT 50 kroner
* Teleperformance Rated New Buy at Deutsche Bank; PT 240 euros
>>> Call
* Cellnex Set at Overweight, More M&A Expected: Morgan Stanley
* Clariant Reinstated as Neutral at Citi; Going Alone a Challenge
* Mitchells & Butlers Due For a Pause, Cut to Hold: Berenberg
* Rolls-Royce No Longer a Buy at Morgan Stanley on Cash Outlook
* Shaftesbury’s Bigger Shops Are an Issue, Jefferies Cuts Rating
* Teleperformance an ‘Unrivaled’ Leader, Set at Buy: Deutsche Bank
Gapping downGapping down
In reaction to disappointing earnings/guidance:
- MOV -20.6%, DLTR -8.4%, PANW -8.3% (also announced intention to acquire Aporeto for $150 mln in cash), CAL -6.7%, HPE -4.9%, BECN -3.4% (also announced upcoming departure of CFO Joseph Nowicki), A -3.4%, BITA -3.1%, TITN -2.9%
Other news:
- XFOR -9.4% (commenced public offering of common shares and Class B warrants)
- HBI -3% (announced departure of CFO Barry Hytinen)
- CLVS -2.8% (after closing Monday's session up by circa +19%)
- FTS -1% (launched C$1.1 bln of share offerings)
- ACAD -0.5% (announced top-line results from ADVANCE trial of pimavanserin)
Analyst comments:
- TAP -0.6% (downgraded to Market Perform from Outperform at BMO Capital Markets)
Gapping up
In reaction to strong earnings/guidance:
- NTNX +20.7%, DKS +12.9%, BBY +4.2%, DY +3.8%, AMBA +3.7%, CRH +2%, BURL +1.8%, PVH +1.4%, ARWR +1%, MOMO +0.9%, AMWD +0.9%, ANF +0.6%
Other news:
- CCXI +336.7% (co and Vifor Fresenius Medical announced "positive" top-line data from Phase III ADVOCATE trial of avacopan)
- KIN +19.9% (received FDA approval of Zimeta for control of equine pyrexia)
- SAFE +6.7% (appointed to join the S&P SmallCap 600)
- ARDX +5.8% (expands partnership with Kyowa Kirin with new agreements; receives $20 mln equity investment)
- EVFM +4.3% (resubmits New Drug Application to FDA for Amphora)
- GNFT +3.1% (announces that the Data Safety Monitoring Board issued positive recommendation for the continuation, without any modifications, of the RESOLVE-IT Phase 3 trial evaluating elafibranor in NASH)
- BCRX +1.5% (continued strength on light volume)
- CBAY +1.5% (after closing Monday's session down by 76%)
- AIG +1.2% (to sell majority interest in Fortitude Re for approx. $1.8 bln)
Analyst comments:
- CMG +1.7% (upgraded to Outperform from Market Perform at Cowen)
- DOC +1.3% (upgraded to Buy from Hold at Stifel)
- CERN +1.3% (initiated with a Buy at UBS)
- DIS +1.2% (initiated with an Overweight at Consumer Edge Research