>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • SWIR -23.9%, FOSL -16.6%, NGD -13.7%, RYAM -12.8%, LPI -11.6%, BKD -10.7%, CTL -10.2%, IIIV -8.9%, NTAP -7.9%, MMLP -7.6%, FNF -6.9%, SIX -6.4%, BCOV -5.8%, QTWO -5.6%, SKT -5.5%, POOL -4.7%, TPX -4.5%, AEG -4.4%, ASGN -4.3%, IFF -4.2%, EQM -4.2%, CRY -4.1%, PXD -3.8%, AIG -3.8%, TRU -3.8%, SPWR -3.7%, BWA -3.4%, AVP -3.4%, WLH -3.2%, KO -2.7%, WSO -2.6%, TSE -2.4%, CS -2.3%, NUS -2.2%, WMB -2% (also Targa Resources and Williams Cos (WMB) announce new NGL agreements and option for Mont Belvieu fractionation joint venture), MGM -1.9%, PS -1.9%, PPL -1.3%, ARI -1.1%

Other news:

  • MTFB -77.2% (receives Complete Response Letter from the FDA regarding the New Drug Application for iclaprim for the treatment of acute bacterial skin and skin structure infections)
  • INO -16.9% (prices offering of $65.0 mln aggregate principal amount of 6.50% convertible senior notes due 2024)
  • XERS -6.1% (prices offering of 5.88 mln shares of common stock at $10.00 per share)
  • HUBS -4.1% (commences underwritten public offering of 1.7 mln shares of common stock)

Analyst comments:

  • ALGN -1.7% (downgraded to Neutral from Buy at UBS)
  • CMA -1.1% (downgraded to Market Perform from Outperform at BMO Capital Markets)

>>> US Gapping up

Gapping up
In reaction to disappointing earnings/guidance:

  • IVC +20.9%, CYBR +14.6%, SNBR +14.3%, MFGP +13.6%, YETI +10.7%, BLMN +6.6%, AZN +6.1%, PDS +6.1%, VNDA +5.1%, CSCO +4.5%, STNG +4.3%, GLOG +3.7%, AR +3.6%, CTRE +3.5%, TRTN +3.5%, GOOS +3.2%, DIOD +2.9%, ZBRA +2.7%, YELP +2.1%, ETRN +2.1%, BAM +2.1%, MRO +1.7%, IRM +1.7%, TU +1.7%, ZTS +1.5%, CCEP +1.4%, WM +1.4%, SBGL +1.2%, EQIX +1.1%, .

Other news:

  • SOLO +28.4% (continued momentum after hosted virtual roadshow webinar yesterday)
  • DBVT +12.3% (announces that its planned resubmission of the Biologics License Application to the FDA for Viaskin Peanut in the treatment of peanut-allergic children 4 to 11 years of age is anticipated in Q3)
  • MDGS +9.6% (considering expanding portfolio of activities to include ventures in the field of CBD and medical cannabis in territories outside the US)
  • CVRS +7.9% (seeks pre-market clearance from the FDA to use the CorPath GRX System in neurovascular intervention)
  • GNC +6.5% (announces that Harbin Pharmaceutical has completed the final $150 mln investment of its previously announced $300 mln strategic investment)
  • MDR +2.6% (modestly rebounding from yesterday's 27% decline), .

Analyst comments:

  • CDXC +5.8% (initiated with a Buy at B. Riley FBR; tgt $7)
  • ELVT +4.3% (upgraded to Buy with $6 tgt at BTIG)
  • SYF +1.4% (upgraded to Buy from Neutral at Goldman)
  • XOM +1.3% (upgraded to Outperform from Underperform at Macquarie)
  • TEVA +1.1% (upgraded to Outperform from Mkt Perform at Raymond James)

>>> US Early premarket gappers


Early premarket gappers

Gapping up:

  • SOLO +33.5%, IVC +20.9%, SNBR +14.3%, DBVT +12.1%, YETI +6.6%, YETI +6.6%, GNC +6.5%, NGD +6.5%, AZN +6%, VNDA +4.8%, ELVT +4.3%, CSCO +4%, EQM +4%, STNG +3.7%, AR +3.6%, YELP +3.5%, CTRE +3.5%, TRTN +3.5%, DIOD +2.9%, ETRN +2.1%, IRM +1.7%, PDS +1.4%, SIX +1.3%, MRO +1.2%, EQIX +1.1%, MDR +1%, AVP +1%, BAND +0.9%, GNRC +0.9%

Gapping down:

  • SWIR -21.4%, FOSL -18.8%, INO -15.4%, BKD -13.8%, RYAM -12.8%, CTL -12.2%, IIIV -8.9%, NTAP -8.1%, FNF -6.9%, MMLP -6.7%, BCOV -5.8%, LPI -4.7%, PXD -4.6%, ASGN -4.3%, IFF -4.2%, CRY -4.1%, AEG -3.9%, SPWR -2.4%, TSE -2.4%, CS -2.4%, NUS -2.2%, BWA -2.2%, AIG -2.1%, WMB -2.1%, MYOK -1.9%, PS -1.9%, HUBS -1.8%, MGM -1.8%

>>> What to look a today - 14th of February 2019

Asian stocks steadied and U.S. equity futures ticked higher after Washington was said to be weighing postponing China tariffs for 60 days. Treasuries slipped alongside the dollar.
In a muted trading session, equity benchmarks drifted in Japan, China and Australia, and ticked lower in Hong Kong. Ten-year Treasury yields edged up to about 2.71 percent. European stock futures pointed to modest gains. The yuan climbed as Chinese data showed export growth unexpectedly rebounded in the first month of 2019. Imports fell, with companies trying to ship goods ahead of the Lunar New Year shutdown likely boosting the result.
US After Hours SNBR +12%, YELP +6%, CSCO +4% are higher, while SWIR -22%, FOSL -16%, BKD -14%, CTL -11%, NTAP -7%, AIG -3% are lower following earnings/guidance

Nikkei -0.02% Hang Seng -0.30% CSI +0.15% Shanghai -0.05% Shenzen +0.66%

Eur$1.1281 CNH 6.7710 CNY 6.7642 JPY 111.06 GBP 1.2865 CHF 1.0081 RUB 66.4445 TRY 5.2678 WTI $ 54.40 +0.93%

S&P +0.32% EuroStoxx +0.31% FTSE +0.17% CAC +0.38% DAX +0.28% SMI +0.42%

Macro :
- U.S. Is Said to Weigh 60-Day Extension for China Tariff Deadline

Keep an eye on :
- AGN NA : Aegon Sets New 2019-2021 Targets, Raises Dividend (1)
- AIR FP : Airbus Is Said Near Decision to Cancel A380 After a Dozen Years
- AIR FP : Airbus Full Year Adjusted Ebit Beats Highest Estimate
- AI FP : Air Liquide FY Recurring Op. Income EU3.45B; Est. EU3.52B
- ADP FP : Paris Airports Jan. Passenger Traffic Rises 1.9%: ADP
- AKER NO : Aker 4Q Net Asset Value Per Share NOK562 Vs. NOK852 Q/Q
- AZA IM : Italy Govt Ready to Participate in New Alitalia if Sustainable, Italian Treasury May Take 18% Stake In New Alitalia: Repubblica
- ASHM LN : Ashmore First Half Net Revenue 1.0% Below Estimates
- AZN LN : AstraZeneca Sees 2019 Product Sales up High Single-Digit Percent
- ATT SS : Attendo Takes Criticism in Finland ‘Very Seriously’
- AVV LN : Aveva Says 1H Trends Continued Into 3Q, Revenue Mix Positive
- BPE IM : Pop. Sondrio, BPER Banca Agree to Buy 39.9% of Arca Holding
- BKG LN : Watch Housebuilders After Weak Data But With Brexit Votes Ahead
- CAP FP : Capgemini FY EPS Beats Ests; Sees FY Op. Margin 12.3%-12.6%
- CO FP : Casino Group Signs Pact With Compass Group to Sell R2C
- CBK GY : Commerzbank 4Q Op. Profit, Net Beat Estimates; Resumes Dividend
- CTEC LN : ConvaTec Full Year Revenue Meets Estimates
- CCH LN : Coca-Cola HBC: Well-Placed to Withstand Challenging Conditions
- ACA FP : Credit Agricole 4Q Net EU1.01b; Capital Markets Rev. Slumps
- CSGN SW : Credit Suisse CEO Thiam Says Bonus Pool Flat After Tough 4Q
- DB1 GY : Deutsche Boerse Full Year Net Revenue Beats Highest Estimate
- DB1 GY : Deutsche Boerse Sees More Subdued 2019 After ’Really Good’ 2018
- DIA SM : Carrefour, Lidl, Sonae Mull Bid for DIA, Expansion Reports
- DSM NA : DSM to Start EU1 Billion Share Buyback, 4Q Beats Estimates (1)
- EZJ LN : EasyJet Confirms Talks With Ferrovie, Delta on Alitalia Options
- ERICB SS : Watch Nokia, Ericsson After Bullish Revenue Forecast from Cisco
- EDF FP : France Is Said to Mull EDF De-Listing Amid Nuclear Challenge
- ELTEL SS : Eltel Fourth Quarter Net Sales EU330.9 Mln
- GTO NA : Gemalto Full-Year 2018 Revenue Matches Estimates
- GXI GY : Gerresheimer Sees Higher Margin in Mid-Term, Raises Dividend (1)
- HUM SS : Humana Fourth Quarter Operating Profit SEK82 Mln
- NK FP : Imerys to Focus on Cost Cuts, Cash Flow as 2019 Seen Demanding
- INDV LN : Indivior Unable to Provide Net Income, Sales Guidance
- IPN FP : Ipsen Outlook May Prompt Small Consensus Upgrades: Jefferies
- KID NO : Kid ASA Fourth Quarter Ebitda Misses Lowest Estimate
- KINVB SS : Kinnevik to Invest SEK900m in Swedish Online Grocer Mathem
- LR FP : Legrand CEO Hopes to Make More Acquisitions in Next Months
- LRE LN : Lancashire Full Year Pretax Profit Beats Estimates
- MERY FP : Mercialys FY Ebitda Meets Estimates, Creates Dual Governance
- MCRO LN : Micro Focus Full Year Revenue Misses Estimates
- MTBF LN : Motif Bio Needs to Raise Cash as New Drug Application Stalls
- MEKO SS : Mekonomen Fourth Quarter Ebit Misses Lowest Estimate
- MONY LN : Moneysupermarket Full Year Adjusted Ebitda Matches Estimates
- NN NA : NN to Buy Back Up to EU500m of Shares, 4Q Misses Estimates
- NESN SW : Nestle Explores Strategic Options for Herta, Including Sale
- NESN SW : *NESTLE FY ORGANIC SALES GROWTH 3%, EST. 3%
- NEX FP : Nexans CEO Sees ‘Sharp Increase’ in Ebitda This Year
- PWTN SE : Panalpina Is Ready to Make ‘Transformational’ Purchase, CEO Says
- PPB LN : Paddy Power Betfair to Appeal German, Greek Tax Assessments
- UG FP : PSA CEO Says Hard Brexit Dramatic for EU Auto Industry: AFP
- POM FP : Plastic Omnium FY Rev. EU7.25B V. Est. EU7.26B; Confirms Outlook
- RNO FP : Renault 2018 Operating Income EU2.99b vs EU3.81b Yr-Earlier
- RTN LN : Restaurant Group CEO to Leave Due to Personal Circumstances
- RR/ LN : Rolls-Royce Gets Order From Emirates for Trent 7000 Engines
- ROVIO FH : Rovio Full Year Dividend Per Share Misses Estimates
- RMG LN : Royal Mail Risks Mostly Priced in After Plunge: Morgan Stanley
- SCHP SW : Schindler Full Year Ebit Meets Estimates
- SU FP : Schneider Increases Assets Under Review, Launches Buyback
- SIE GY : EU Vestager Open to Competition Law Changes After Rail Block: BI
- SIA LN : Soco Intl Revises Down Vietnam Reserves, Keeps ’19 Output Target
- SOLG LN : SolGold First Half Operating Loss A$38.1 Mln
- SUN SW : Sulzer Full Year Ebit Misses Lowest Estimate
- TEF SM : Telefonica, Masmovil Reach Fiber Wholesale Agreement: Expansion
- URW NA : Unibail Raises Disposal Target, Predicts Strong Growth
- UTW LN : Utilitywise Sale Talks Unsuccessful, To Name Administrators
- VAST NA : Vastned Full Year EPS Forecast Misses Estimates
- VER AV : Verbund Supervisory Board Chairman Roiss Will Resign
- VERK FH : Profit Warning Is Canceled After Firm Finds Missing Millions
- VOW# GY : VW, Ford Far Apart on Ford Autonomous Unit Investment: Reuters
- WAND LN : WANdisco to Raise $17.5M Via Subscription; Results in Line
- WDI GY : Wirecard Short Seller Knew About FT Report Timing: FAZ
- WLN FP : Worldline Up to Buy on M&A Opportunity, Faster Growth: Berenberg

>>> US After Hours Summary: SNBR +12%, YELP +6%, CSCO +4% are high

After Hours Summary: SNBR +12%, YELP +6%, CSCO +4% are higher, while SWIR -22%, FOSL -16%, BKD -14%, CTL -11%, NTAP -7%, AIG -3% are lower following earnings/guidance

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: IVC +21.2%, SNBR +11.8%, YELP +5.8%, CSCO +3.8% (also raises quarterly dividend 6%; approved a $15 billion increase to the authorization of the stock repurchase program), VNDA +3.7%, DIOD +3.5%, AR +3.1%

Companies trading higher in after hours in reaction to news: SOLO +23.3% (continued momentum after hosting virtual roadshow webinar today), DBVT +17.9% (announces that its planned resubmission of the Biologics License Application to the FDA for Viaskin Peanut in the treatment of peanut-allergic children 4 to 11 years of age is anticipated in Q3), AVP +8.6% and YETI +0.8% (ahead of earnings tomorrow), ELVT +4.3% (upgraded to Buy with $6 tgt at BTIG), GNC +3.8% (announces that Harbin Pharmaceutical has completed the final $150 mln investment of its previously announced $300 mln strategic investment), MDR +1.6% (modestly rebounding from today's 27% decline), HLIT +1.5% (ticking higher; initiated with Buy at Needham)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: SWIR -21.9%, FOSL -16%, BKD -13.8%, RYAM -11% (light volume), CTL -10.7%, QTWO -7.5% (light volume), NTAP -7%, FNF -6.9%, BCOV -5.8% (light volume), MMLP -5.8%, IFF -4.5%, ASGN -4.3%, PXD -4.1%, AIG -3.2%, MGM -2.8%, TRUP -2.8% (light volume), NUS -2.2% (light volume), SPWR -2%, WMB -2% (also Targa Resources and Williams Cos announce new NGL agreements and option for Mont Belvieu fractionation joint venture), PS -1.9%, LPI -1.8%, SVMK -1.5%, H -1.2%

Companies trading lower in after hours in reaction to news: INO -15.2% (proposes offering of $65 mln convertible senior notes due 2024), HUBS -2.3% (commences offering of 1.7 mln shares of common stock), MYOK -1.9% (indicated lower on block trade pricing), CIM -0.5% (downgraded to Hold from Buy at Deutsche Bank

>>> Europe : Brokers Upgrades & Downgrades - 14th of February 2019

>>> Up
* Chemring Group Raised to Overweight at Barclays; PT 1.75 Pounds
* Grieg Seafood Upgraded to Buy at Fearnley; PT 134 Kroner
* Kion Upgraded to Buy at LBBW; PT 61 Euros
* Royal Mail Raised to Equal-weight at Morgan Stanley
* Osram Upgraded to Hold at Kepler Cheuvreux; PT 40 Euros
* Worldline Upgraded to Buy at Berenberg

>>> Down
* Air France-KLM Cut to Sector Perform at RBC; PT 10.50 Euros
* Aumann Downgraded to Hold at Commerzbank; PT 38 Euros
* BIC Downgraded to Hold at SocGen; PT 86.90 Euros
* Boliden Downgraded to Hold at Pareto Securities; PT 260 Kronor
* Carl Zeiss Meditec Downgraded to Hold at HSBC; PT 80 Euros
* Dunelm Downgraded to Reduce at HSBC; PT 6.50 Pounds
* Eurocommercial GDRs Cut to Hold at Kepler Cheuvreux; PT 30 Euros
* L'Oreal Downgraded to Hold at SocGen; PT 240 Euros
* REC Silicon Downgraded to Reduce at AlphaValue
* Rocket Internet Downgraded to Hold at Bankhaus Lampe
* RSA Downgraded to Neutral at JPMorgan; PT 6.15 Pounds
* Thule Downgraded to Hold at Pareto Securities; PT 210 Kronor
* Troax Downgraded to Accumulate at Handelsbanken; PT 330 Kronor
* Wessanen Downgraded to Hold at ABN Amro Bank

>>> Initiation
* EssilorLuxottica Resumed at Citi With Sell

>>> Call