>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • HIVE -7.4%, JBHT -4%, OMC -0.8%

Other news:

  • WVE -4.5% (announced the final results from its Phase 1 clinical trial of investigational suvodirsen in boys with Duchenne muscular dystrophy who are amenable to exon 51 skipping)
  • JBGS -1.8% (prices underwritten public offering of 10 mln common shares at a public offering price of $42.00/share)
  • WERN -0.8% (following JBHT earnings)
  • FB -0.8% (CEO Mark Zuckerberg leveraged user data to compete with rivals, according to NBC News)

Analyst comments:

  • SEMG -1.9% (downgraded to Underweight from Equal Weight at Barclays)
  • MIC -1.5% (downgraded to Underweight from Equal Weight at Barclays)
  • MLM -1.5% (downgraded to Underperform from Neutral at BofA/Merrill)
  • GLP -1.4% (downgraded to Underweight from Equal Weight at Barclays)
  • HFC -1.3% (downgraded to Neutral from Buy at MKM Partners)
  • CTSH -1.1% (downgraded to Market Perform from Outperform at Wells Fargo)

>>> US Gapping up

Gapping up
In reaction to disappointing earnings/guidance:

  • UNH +1.9%, JNJ +1.8%, BLK +1.4%, BAC +0.3%

Other news:

  • JMIA +7.3% (after closing 25% higher on the day)
  • KMDA +5.4% (receives letter from the FDA stating that the Company has satisfactorily addressed the concerns and questions regarding its Inhaled Alpha-1-Antitrypsin program for the treatment of Alpha-1 Antitrypsin Deficiency)
  • CRSP +3.9% (CRISPR Therapeutics and Vertex Pharmaceuticals Incorporated (VRTX) announce FDA Fast Track Designation for CTX001 for the treatment of transfusion-dependent beta thalassemia)
  • APHA +2% (modestly rebounding from today's 15% decline)
  • LPI +1.9% (Laredo Petroleum settled its previously disclosed litigation with Shell Trading)
  • GILD +0.9% (Gilead Sciences and insitro enter strategic collaboration to discover and develop therapies for patients with nonalcoholic steatohepatitis)

Analyst comments:

  • ELF +5.7% (upgraded to Buy from Neutral at DA Davidson)
  • ROKU +2.2% (positive note from Needham)
  • NFLX +1.8% (upgraded to Buy from Hold at Deutsche Bank ahead of tonight's earnings)
  • CMI +1.3% (upgraded to Buy from Neutral at Citigroup)
  • MRO +1% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)

>>> UnitedHealth beats by $0.13, reports revs in-line; raises FY19 EPS in-line

UnitedHealth beats by $0.13, reports revs in-line; raises FY19 EPS in-line
  • Reports Q1 (Mar) earnings of $3.73 per share, $0.13 better than the S&P Capital IQ Consensus of $3.60; revenues rose 9.2% year/year to $60.3 bln vs the $59.72 bln S&P Capital IQ Consensus.
  • The operating cost ratio of 14.1 percent in first quarter 2019 improved 130 basis points from its first quarter 2018 level, due to the deferral of the health insurance tax and strong cost management disciplines.
  • Co issues raised guidance for FY19, sees EPS of $14.50-14.75 from $14.40-14.70 vs. $14.65 S&P Capital IQ Consensus.

FT : German economic outlook swings positive for first time in a year Current co

German economic outlook swings positive for first time in a year
Current conditions languish as sentiment signals worst may be over for economy

The outlook for Germany’s economy brightened markedly this month, according to a key survey of analysts that suggests Europe’s powerhouse may be gaining momentum after a slowdown in recent months.

The Zew survey’s indicator of economic sentiment rose in April to 3.1 points, extending a rise to a sixth month and move into positive territory for the first time since March last year. A Reuters poll had shown a consensus of 0.8 points. In March sentiment had been minus 3.6 points.

The Mannheim-based research house said the improvement in sentiment was largely based on the hope that global economic environment will “develop less poorly than previously assumed”.

The Zew index “adds to tentative evidence that a gradual rebound of the German economy is in the making”, analysts at ING said.

Still, the Zew report noted that “the outlook for the German economy in the coming six months . . . remains greatly subdued.”

The institute revealed that current conditions in April were 5.5 points, lower than the 8.0 points forecast in a Reuters poll, and its seventh consecutive decline. The month before the figure was at 11.1.

Geopolitical factors, such as tension between the US and China over trade and the process of the UK leaving the EU, have plagued the eurozone and its largest economy over recent months.

The Zew institute said in its monthly report that postponing the Brexit deadline may have contributed to boost the economic outlook. The UK was initially scheduled to leave the bloc on March 29, which was then postponed to April 12. It has since been postponed again.

The latest economic data nonetheless point to “rather weak economic development”, Zew said.

The survey, which began in 1991, calculates its index from the difference between the percentage of analysts who are optimistic about the German economy over the next six months and those who are pessimistic.