>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • WMGI +5.6%, SOHU +5.5%, MRVL +5.4%, INFY +5.4%, RACE +4.8%, SWN +4.3%, BB +3.5%, RIO +3.4%, GPRO +3%, CNHI +2.8%, DB +2.8%, USM +2.6%, BHP +2.5%, MT +2.2%, BBL +2.1%, BBVA +2.1%, ERIC +2%, BIDU +2%, BIIB +1.9%, IRBT +1.8%, BABA +1.7%, SAN +1.7%, LYG +1.7%, XLNX +1.7%, ANET +1.5%, BP +1.5%, JD +1.4%, RDS.A +1.4%, MU +1.4%, MS +1.4%, HSBC +1.4%, HAL +1.3%, WLL +1.3%, SPNS +1.2%, BRK.B +1%, SLB +0.9%
  • Gapping down:
    • UAA -15.9%, MCD -2.7%, XNET -2.7%, AU -2.4%, VEON -2.4%, HOG -2.1%, PZZA -1.1%, WWE -1.1%, TTM -1.1%, ORAN -0.9%, NOK -0.5%, FCEL -0.5%, SOGO -0.5%

>>> Europe : Brokers Upgrades & Downgrades - 4th of November 2019 V2 (+)

>>> Up
* Alpha Bank Raised to Equal-Weight at Morgan Stanley
* Alstria Office Raised to Buy at HSBC; PT 20 euros
* Fiat Chrysler Raised to Buy at HSBC
* LEG Immobilien Raised to Buy at Kempen & Co; PT 115 euros
* Pets at Home Raised to Buy at Liberum (+)
* Swiss Prime Raised to Neutral at Kempen & Co
* Zalando Raised to Buy at M.M. Warburg (+)

>>> Down
* 1&1 Drillisch Cut to Hold at Jefferies
* Eurobank Cut to Equal-Weight at Morgan Stanley
* Eurocommercial GDRs Cut to Sell at Kempen & Co; PT 25 euros
* Intesa Cut to Underperform at RBC; PT 2.20 euros
* Lehto Group Cut to Sell at Handelsbanken; PT 1.20 euros
* Mobimo Cut to Sell at Kempen & Co; PT 265 Swiss francs
* Unibail Cut to Neutral at Kempen & Co; PT 144 euros
* United Internet Cut to Hold at Jefferies
* Wereldhave Cut to Sell at Kempen & Co; PT 18.50 euros

>>> Initiation
* Coats Rated New Buy at Stifel; PT 85 pence
* EQT Rated New Neutral at Goldman; PT 90 kronor
* EQT Rated New Overweight at JPMorgan; PT 115 kronor
* EQT Rated New Equal-Weight at Morgan Stanley; PT 101 kronor
* EQT Rated New Buy at SEB Equities; PT 114 kronor
* Generali Reinstated Equal-Weight at Morgan Stanley
* TeamViewer Rated New Overweight at Barclays; PT 27.70 euros
* TeamViewer Rated New Buy at Goldman; PT 33 euros
* TeamViewer Rated New Overweight at Morgan Stanley; PT 32 euros
* TeamViewer Rated New Outperform at RBC; PT 29 euros (+)
* Vivoryon Therapeutics AG Rated New Buy at NIBC; PT 18 euros (+)
* Whitbread Rated New Buy at Peel Hunt; PT 4,800 pence


>>> Call
* Alpha, Eurobank Ratings Changed on Hercules Plan: Morgan Stanley
* Dixons Carphone PT Trimmed at Citi on Slightly Lower Earnings (+)
* TeamViewer Has Five Analyst Buy Ratings; MS Sees Mass Adoption
* Drillisch, United Internet Cut to Hold at Jefferies After Ruling (+)
* Whitbread Shares Don’t Fully Reflect Growth Plans: Peel Hunt

>>> TradeGate Pre-Market indications

DAX:
  • Wirecard (WDI TH) +3.6%
    • Wirecard CEO Promises Better Transparency: Handelsblatt
  • Daimler (DAI TH) +1.9%
    • Watch Autos, Cyclical Stocks on Tariff and Trade Deal Optimism
  • Infineon (IFX TH) +1.6%
  • Continental AG (CON TH) +1.5%
  • Deutsche Bank (DBK TH) +1.4%
MDAX:
  • Alstria Office (AOX TH) +1.7%
    • Alstria Office Raised to Buy at HSBC; PT 20 euros
  • Hannover Re (HNR1 TH) +1.3%
  • ProSieben (PSM TH) +1.2%
  • Telefonica Deutschland (O2D TH) +1.1%
    • Telefonica Deutschland 3Q Adj. OIBDA Beats; Guidance Confirmed
  • Evonik (EVK TH) +1%
  • Siemens Healthineers (SHL TH) -3.1%
    • Healthineers Forecasts 5% Sales Growth as Profit Meets Estimates
SDAX:
  • Takkt (TTK TH) +3.2%
  • HelloFresh (HFG TH) +2.9%
  • RIB Software (RIB TH) +2.6%
  • Borussia Dortmund (BVB TH) +2.6%
  • Leoni (LEO TH) +2.5%
  • Traton (8TRA TH) -0.7%
    • VW’s Traton Sees ‘Much More Difficult Environment’ 2020
  • SGL (SGL TH) -1.2%
  • Steinhoff (SNH TH) -1.7%

>>> Stoxx 600 Pre-Market

  • Wirecard (WDI TH) +3.9%
    • Wirecard CEO Promises Better Transparency: Handelsblatt
  • Banco Santander (BSD2 TH) +2.1%
  • Daimler (DAI TH) +1.7%
    • Watch Autos, Cyclical Stocks on Tariff and Trade Deal Optimism
  • ASML (ASME TH) +1.4%
  • Continental AG (CON TH) +1.3
  • ProSieben (PSM TH) +1.2%
  • Siemens Gamesa (GTQ1 TH) +1.1%
  • Unilever (UNI2 TH) +1.1%
    • Virtus Vontobel Foreign Opportunities Adds Unilever
  • BMW (BMW TH) +1.1
  • SES (SES TH) -1.5%
  • Norsk Hydro (NOH1 TH) -1.9%

>>> What to look at today - 4th of November 2019

Stocks climbed in Asia along with American and European equity futures amid optimism China and the U.S. are moving closer to an interim trade deal. Australian bond yields climbed.
Shares jumped in Seoul, and rose in Sydney, though a capital raising at a big Australian bank capped sentiment. Contracts on the S&P 500 were in the green after the index rose 1% Friday to a fresh all-time high on a solid U.S. jobs report. Hong Kong outperformed despite ongoing clashes in the city. Shanghai equities also rose. South Africa’s rand gained after the country clung on to its investment-grade credit rating. Markets are shut in Tokyo, so cash trading of Treasuries begins at the London open. Futures signaled a tick up in U.S. bond yields.

Nikkei Closed Hang Seng +1.43% CSI +0.63% Shanghai +0.58% Shenzen +0.57%

Eur$ 1.1171 CNH 7.0230 CNY 7.0249 JPY 108.30 GBP 1.2934 CHF 0.9860 RUB 63.3550 TRY 5.7014 WTI$ 55.90 -0.53%

S&P +0.20% EuroStoxx +0.50% Dax +0.52% FTSE +0.46% SMI +0.37%

Macro :
- Saudi Crown Prince Said to Give Green Light for Aramco IPO
- U.S. May Not Need to Put Tariffs on European Cars, Ross Says
- Aramco Valuation to Be Determined in IPO Roadshow
- Tories Ready to Ditch No-Deal Brexit Threat, Times Reports
- Time for German Stocks’ Turbo-Charged Rally to Slow: Macro View

Keep an eye on :
- AED BB : Aureit Offers to Buy Hoivatilat for EU14.75/Share in Cash
- BALN SW : Baloise Buys Athora Belgium Non-Life Portfolio for EU60m
- GBF GY : Bilfinger Names Jon Rokk President & CEO of Middle East Division
- BSGR NA : B&S Group Nine Month Organic Revenue +5.8%
- DAI GY : Daimler Oct. U.S. Auto Sales +1.3% Vs. +0.90% Y/y
- DBK GY : ECB, BaFin Push Deutsche Bank CEO to Drop Dual Roles: FT
- DWS GY : DWS CEO Tells FT ‘Many’ Partners Showed Interest in Alliance
- FOUR LN : 4imprint Sees FY Rev Growth of Around 16% More Than ‘18
- GLPG NA : Gilead to Exercise Galapagos Warrant, Raise Stake to 25.1%
- GVC LN : *GVC HOLDINGS TO APPOINT BARRY GIBSON AS NEXT CHAIRMAN: SKY
- SHL GY : Healthineers CEO: Trade War Impact Limited to EU30M in 2019
- HOIVA FH : Aureit Offers to Buy Hoivatilat for EU14.75/Share in Cash
- HYQ GY : Hypoport 3Q Ebit Rises 25%, Confirms FY Rev., Ebit Outlook
- IAG LN : IAG Agrees to Buy Air Europa for EU1 Billion
- ISP IM : Intesa’s Revenue Headwinds Prompt Cut to Underperform by RBC
- JE/ LN : Takeaway.com Proposes Just Eat Merger Via Recommended Offer
- KIE LN : Kier Creditors Seek to Cut Holdings of Its Loans: Telegraph
- LEHTO FH : Lehto Group Says Sales Will Be Lower in 2019 Than in 2018
- MC FP : Tiffany Likely to Play Hard to Get as LVMH Awaits Answer
- MBTN SW : Meyer Burger Says Customer’s Contract Financing Round Delayed
- NWL IM : Newlat Eyes Targets for Acquisitions After IPO: La Stampa
- UG FP : Italy Finance Min to Follow Fiat Chrysler-Peugeot Deal Closely
- PNL NA : PostNL Sees EU20m Impact From Sandd Deal on FY View
- RYA ID : Ryanair 2Q Profit After Tax EU910.2M vs EU841.5M
- SAA LN : M&C Saatchi Discusses Strategic Overhaul, Telegraph Says
- SGO FP : Saint-Gobain Sells Expanded Polystyrene Business in France
- SAN FP : Sanofi Unveils Positive Results in Phase 3 Trial for Toujeo
- SAN SM : Santander Bear Case is Starting to Materialize, Berenberg Says
- SFOR LN : S4 Capital Says Performance is in Line With Expectations
- O2D GY : Telefonica Deutschland 3Q Adj. OIBDA Beats; Guidance Confirmed
- TIF US : Tiffany Likely to Play Hard to Get as LVMH Awaits Answer
- TM17 LN : Team17 Sees Earnings Ahead of Market Expectations
- VIFN SW : Vifor Pharma, Janssen to Jointly Commercialize Invokana in U.S.
- VPK NA : Vopak 3Q Adjusted Ebitda EU202.4m, Announces Chinese JV (1)
- VOW3 GY : VW Oct. U.S. Auto Sales -3.2% Vs. +4.60% Y/y
- VOW3 GY : Merkel Cheers On VW’s Electric Push as Climate Critique Grows
- WDI GY : Wirecard: Morgan Stanley Discloses 8.32% Voting Rights
- WDI GY : Wirecard CEO Promises Better Transparency: Handelsblatt
- WDI GY : Wirecard Share Buyback to Run From Nov. 5 2019 to Nov. 5 2020
- WMGI US : Wright Medical Group Is Said to Explore Potential Sale

>>> Europe : Brokers Upgrades & Downgrades - 4th of November 201

>>> UpAlpha Bank Raised to Equal-Weight at Morgan Stanley
*
* Alstria Office Raised to Buy at HSBC; PT 20 euros
* Fiat Chrysler Raised to Buy at HSBC
* LEG Immobilien Raised to Buy at Kempen & Co; PT 115 euros
* Swiss Prime Raised to Neutral at Kempen & Co

>>> Down
* 1&1 Drillisch Cut to Hold at Jefferies
* Eurobank Cut to Equal-Weight at Morgan Stanley
* Eurocommercial GDRs Cut to Sell at Kempen & Co; PT 25 euros
* Intesa Cut to Underperform at RBC; PT 2.20 euros
* Lehto Group Cut to Sell at Handelsbanken; PT 1.20 euros
* Mobimo Cut to Sell at Kempen & Co; PT 265 Swiss francs
* Unibail Cut to Neutral at Kempen & Co; PT 144 euros
* United Internet Cut to Hold at Jefferies
* Wereldhave Cut to Sell at Kempen & Co; PT 18.50 euros

>>> Initiation
* EQT Rated New Neutral at Goldman; PT 90 kronor
* EQT Rated New Overweight at JPMorgan; PT 115 kronor
* EQT Rated New Equal-Weight at Morgan Stanley; PT 101 kronor
* EQT Rated New Buy at SEB Equities; PT 114 kronor
* Generali Reinstated Equal-Weight at Morgan Stanley
* TeamViewer Rated New Overweight at Barclays; PT 27.70 euros
* TeamViewer Rated New Buy at Goldman; PT 33 euros
* TeamViewer Rated New Overweight at Morgan Stanley; PT 32 euros
* Whitbread Rated New Buy at Peel Hunt; PT 4,800 pence


>>> Call
* Alpha, Eurobank Ratings Changed on Hercules Plan: Morgan Stanley
* TeamViewer Has Five Analyst Buy Ratings; MS Sees Mass Adoption
* Whitbread Shares Don’t Fully Reflect Growth Plans: Peel Hunt

Weekend Reading Summary

Weekend Reading Summary

Macro Related

  • Joe Biden leads the national race for the Democratic nomination with 27% followed by Senator Elizabeth Warren at 23% and Senator Bernie Sanders at 19%. Mr. Biden and Ms. Warren both top President Trump in a general election matchup by 9 and 8 points respectively. Americans are divided on impeachment by party. WSJ
  • Commerce Secretary Wilbur Ross is optimistic that phase one of the China trade deal will be signed and is considering IA, AK, and HI as possible locations to sign the trade deal. He will also grant licenses for US companies to sell to Huawei "very shortly" (FXI, MU, LITE, FNSR, QCOM). Bloomberg
  • Commerce Secretary Wilbur Ross says US may not need to initiate auto tariffs on EU imports (VGK, CARZ, BMWYY, VWAGY, FCAU, F, GM). Bloomberg
  • Argentina's President-elect Alberto Fernandez is supportive of recent capital controls (ARGT, BMA, YPF, GGAL, SUPV, TGS, EDN, LOMA, CEPU, PAM, TEO). LA Nacion

Stock Specific

  • Positive views on DEO, MOMO, HUYA, BABA, TCEHY, NVDA. Barron's
  • Positive views on T, SLB, ABBV, SPG, IRM. Barron's
  • Positive view on Fiat (FCAU). Barron's
  • Positive view on Compass (CODI). Barron's
  • Positive view on Garmin (GRMN). Barron's
  • Positive views on FSLR, ALB, NEE. Barron's
  • The Trump administration is aiming to ban flavored vaping products with exemptions only for tobacco and menthol flavors (MO). Axios
  • California Governor Gavin Newsom will meet with PG&E (PCG) executives, shareholders, and wildfire victims next week. Reuters
  • Saudi Aramco has started its IPO process and bankers say it could be valued at around $1.5 trillion (USO, XLE). Reuters
  • A criminal case against Boeing (BA) over 737 Max would be challenging. WSJ
  • Fiat (FCAU) and Peugeot (PEUGY) are expected to sign binding merger by next month. Reuters
  • Apple (AAPL) has requested tariff exemption on iPhone parts, Watch, an AirPods. Bloomberg
  • Federal officials are investigating Under Armour (UA) over accounting issues. WSJ
  • Delta (DAL) might end bidding process for Alitalia. Bloomberg
  • One person is dead after eating beef contaminated with salmonella (TSN, SAFM, HRL). NBC News