Gapping down
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- STLA -0.9% (guidance)
Other news:
- SRPT -10.1% (Provides Statement on ELEVIDYS)
- USGO -0.8% (announces 2025 exploration program)
Gapping up
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- VZ +4.6%, CLF +3.7%, DPZ +3.1%, ROP +1%
Other news:
- SQNS +12.2% (announced the acquisition of an additional 1,264 bitcoin for ~$150 million at an average price inclusive of fees of ~$118,659 per bitcoin)
- LX +10.8% (announces $50 million share repurchase program and management purchase)
- ORKA +7.3% (IND clearance for EVERLAST-A phase 2a trial of ORKA-001 in psoriasis with Phase 1 data to be presented at EADV in September)
- CNL +6.6% (Drills 442.35 Metres at 2.16 g/t Gold Equivalent Commencing from Surface at Apollo)
- GLUE +6.2% (First Subjects Dosed in Phase 1 Study of MRT-8102)
- FFAI +5.7% (Faraday X Unveils Two Groundbreaking Global-First Products Along with a Transformative Technology Architecture in Los Angeles on July 17)
- AUTL +4.6% (CAR T Therapy AUCATZYL (Obecabtagene Autoleucel) Granted European Marketing Authorization for Adult Patients (age 26 and older) with Relapsed or Refractory B-Cell Precursor Acute Lymphoblastic Leukemia)
- ALKS +2.7% (topline results from Vibrance-1 Phase 2 Study of once-daily Alixorexton)
- CRGO +2.6% (SriLankan Cargo has partnered with WebCargo for online air cargo booking and payments)
- CGEN +2.6% (First Patient Dosed in COM701 Global Platform Trial in Platinum Sensitive Ovarian Cancer)
- TRI +2.5% (to join the Nasdaq-100 Index beginning July 28)
- LAES +1.9% (SEALSQ Corp and WISeKey (WKEY) confirm new cross-border center of excellence for the 4th Industrial Revolution activated between La Line and Gibraltar)
- LYEL +1.7% (files for 625,000 share common stock offering by selling shareholders)
- QTRX +1.5% (mgmt committed to a plan to terminate certain executives of the newly acquired subsidiary, Akoya Biosciences)
- DNN +1.4% (Announces Additional High-Grade Uranium Mineralization Discovered at McClean South)
- RUN +1% (prices $431 million senior securitization of residential solar systems)
>>> Up
* ABB Raised to Buy at Citi; PT 62 Swiss francs
* Atlas Copco Raised to Buy at ABG; PT 170 kronor
* Autoliv GDRs Raised to Buy at Pareto Securities; PT 1,220 kronor
* Boliden Raised to Buy at Berenberg
* Burberry PT Raised to 1,575 pence from 1,400 pence at UBS (++)
* Carnival PT Raised to $31 from $27 at Truist Secs (++)
* doValue Raised to Outperform at Mediobanca SpA; PT 2.70 euros
* Epiroc Raised to Hold at Nordea
* IMCD Raised to Neutral at UBS; PT 122 euros (++)
* Kemira Raised to Buy at OP Corporate Bank; PT 22 euros (++)
* Know IT Raised to Buy at Pareto Securities; PT 150 kronor (+)
* Loihde Raised to Accumulate at Inderes; PT 11.90 euros
* Nokian Renkaat Raised to Hold at Danske Bank Markets (+)
* Rocket Lab PT Raised to $55 from $40 at CFRA
* Rocket Lab PT Raised to $55 from $40 at CFRA
* Schindler Raised to Hold at Kepler Cheuvreux
* Telia Raised to Buy at New Street Research; PT 40 kronor (++)
* Telia Raised to Accumulate at OP Corporate Bank; PT 37 kronor (++)
* Texas Instruments Raised to Neutral at Seaport Global Securities (++)
* Wartsila Raised to Hold at ABG; PT 22 euros
>>> Down
>>> Down
* Aker BP Cut to Reduce at AlphaValue/Baader
* American Express Cut to Sell at DZ Bank (++)
* Ashtead Technology PT Cut to 560 pence from 780 pence at RBC
* ASML Cut to Neutral at Van Lanschot Kempen; PT 700 euros
* Autoliv GDRs Cut to Hold at DNB Carnegie (++)
* Beijer Alma Cut to Hold at Handelsbanken; PT 270 kronor
* EDP Renovaveis Cut to Neutral at JB Capital Markets; PT 10 euros
* Engcon Cut to Hold at Nordea
* Lagercrantz Cut to Hold at Danske Bank Markets; PT 239 kronor (+)
* Orlen Cut to Sell at UBS (++)
* Orion Cut to Reduce at OP Corporate Bank; PT 71.50 euros (++)
* Royal Caribbean Cut to Hold at Truist Secs; PT $337 (++)
* Saab Cut to Sell at Danske Bank Markets; PT 510 kronor (+)
* Saab Cut to Hold at Pareto Securities; PT 550 kronor
* Sarepta Cut to Market Perform at Leerink; PT $10
* Sarepta Cut to Market Perform at Leerink; PT $10
* Sarepta Cut to Sell at Deutsche Bank; PT $9
* Sarepta Cut to Neutral at Baird; PT $15
* Scandic Cut to Neutral at UBS; PT 85.80 kronor (++)
* Talenom Cut to Accumulate at Inderes; PT 4.20 euros
* Tokmanni Cut to Hold at SEB Equities; PT 10.40 euros
* Tokmanni Cut to Sell at DNB Carnegie; PT 8.20 euros (++)
* Truecaller Cut to Hold at Deutsche Bank; PT 69 kronor (++)
* Vaisala Cut to Hold at SEB Equities; PT 55 euros (+)
* Vestas Wind downgraded to Hold from Buy at Kepler Cheuvreux (++)
* Weir Group Cut to Hold at Stifel; PT 2,700 pence (+)
>>> Initiation
>>> Initiation
* General Motors Rated New Buy at Benchmark; PT $65 (++)
* General Motors Rated New Buy at Benchmark on Resilient Business (++)
* Petrobras ADRs Rated New Outperform at CICC; PT $16
* Petrobras ADRs Rated New Outperform at CICC; PT $16
* Ralph Lauren Rated New Outperform at KGI Securities; PT $367.30 (+)
* So-Young ADRs Rated New Outperform at Haitong Intl; PT $10.10
* Tenaris Rated New Outperform at Bernstein; PT 21 euros
* Vallourec Rated New Outperform at Bernstein; PT 22.60 euros
>>> Call
* ABB’s Outlook Supports Further Re-Rating, Citi Raises to Buy
>>> Call
* ABB’s Outlook Supports Further Re-Rating, Citi Raises to Buy
* Goldman Strategists See Weak Dollar as Modest Tariff Offset
* JPMorgan Strategists Say European Earnings Could Underwhelm (++)
* Knorr-Bremse Gains as Kepler Upgrades on Rail Division Strength (++)
Early premarket gappers
-
Gapping up:
- LX +10.4%, FFAI +6%, ALKS +5.7%, DPZ +5.2%, CLF +2.5%, LAES +1.9%, USGO +1.9%, LYEL +1.7%, RUN +0.7%
-
Gapping down:
- SRPT -4%, STLA -1.6%, GLPI -1%
Weekend Reading Summary
Maro Related:
- Japan's Liberal Democratic Party will lose control of the upper house (EWJ, FXY). CNN
- President Trump could meet with Chinese President Xi at APEC summit on October 30 (FXI). SCMP
- Commerce Secretary Howard Lutnick is confident U.S. will make EU trade deal as the bloc prepares retaliation plan (VGK). Bloomberg
- Treasury Secretary Scott Bessent advised President Trump against trying to fire Fed Chairman Jerome Powell. WSJ
Stock Specific:
- Cautious view on U.S. economy. Barron's
- Nvidia (NVDA) China related production running into roadblocks. The Information
- President Trump filed lawsuit against The Wall Street Journal (NWSA), seeking $20 bln for alleged false reporting over Epstein article. Politico
- Microsoft (MSFT) will stop using Chinese engineers to provide technical assistance to military. Reuters
- Zeekr (ZK) inflated sales to meet targets. Reuters
- Brazil mulling retaliatory actions for U.S. tariffs (EWZ, ERJ, GGB, BSBR, VALE, PBR, ITUB). Estado
- President Trump will announce artificial intelligence action plan Wednesday which will call for reducing regulations and expanding energy development (CCJ, NRA, NLR, NVDA, GOOG, GOOGL, MSFT, INTC, AMD, ARM, AVGO). Bloomberg
- The Trump administration reviewed SpaceX contracts, but determined they were too critical to eliminate (TSLA, SPCE, VSAT, RKLB). WSJ
- Blackstone (BX) no longer interested in TikTok minority stake (SNAP, META). Bloomberg
- HSBC (HSBC) continues search for new Chair. FT
- China rare earth exports increased 200% from last month (MP, REMX, TMC). WSJ
- Los Angeles filed lawsuit against AirBnb (ABNB) for alleged price gouging. Reuters
- Apple (AAPL) foldable iPhone will be introduced next year. Bloomberg
- EU aiming to mandate car rental firms purchase EVs only starting in 2030 (TSLA, VWAGY, CAR, HTZ). Bloomberg
- Delta (DAL) pilot made a maneuver to avoid collusion with B-52. ABC News
- Hackers exploited Microsoft (MSFT) flaw to launch a global attack on government agencies. Washington Post
- Amazon (AMZN) increases prices on essential goods. WSJ
- Daimler Truck (DTRUY) could exit China production. FT
The Information : Trump Aides Considered Cuts to SpaceX Contracts
After Elon Musk left Washington and ignited a feud with President Donald Trump last month, the Trump administration reviewed the government’s contracts with Musk’s SpaceX and thought about cutting some of them.
In the end, it didn’t—after deciding they were too vital to the Defense Department and NASA.
The review reflects how quickly the relationship between Musk and Trump has deteriorated. Meanwhile, the fact that the White House didn’t cut any of the contracts highlights SpaceX’s enormous importance to the government as the world’s leading commercial space-exploration business.
France has launched criminal probe of X over alleged algorithm ‘manipulation’, platform says
Authorities also accused social media company of ‘fraudulent’ data extraction
The French government has launched a criminal investigation into Elon Musk’s X over “the alleged manipulation of its algorithm” and “fraudulent” data extraction, the social media platform said.
In a statement on Monday, X said that French authorities had requested access to the company’s recommendation algorithm, as well as data “about all user posts on the platform”.
X said it “remains in the dark” about the specific allegations, which it denies, and that it “has not acceded to the French authorities’ demands”.
It also criticised the investigation as politically motivated.
The French police and prosecutors could not immediately be reached for comment.
>>> Up
* ABB Raised to Buy at Citi; PT 62 Swiss francs
* Atlas Copco Raised to Buy at ABG; PT 170 kronor
* Autoliv GDRs Raised to Buy at Pareto Securities; PT 1,220 kronor
* Boliden Raised to Buy at Berenberg
* doValue Raised to Outperform at Mediobanca SpA; PT 2.70 euros
* Epiroc Raised to Hold at Nordea
* Know IT Raised to Buy at Pareto Securities; PT 150 kronor (+)
* Loihde Raised to Accumulate at Inderes; PT 11.90 euros
* Nokian Renkaat Raised to Hold at Danske Bank Markets (+)
* Rocket Lab PT Raised to $55 from $40 at CFRA
* Rocket Lab PT Raised to $55 from $40 at CFRA
* Schindler Raised to Hold at Kepler Cheuvreux
* Wartsila Raised to Hold at ABG; PT 22 euros
>>> Down
>>> Down
* Aker BP Cut to Reduce at AlphaValue/Baader
* Ashtead Technology PT Cut to 560 pence from 780 pence at RBC
* ASML Cut to Neutral at Van Lanschot Kempen; PT 700 euros
* Beijer Alma Cut to Hold at Handelsbanken; PT 270 kronor
* EDP Renovaveis Cut to Neutral at JB Capital Markets; PT 10 euros
* Engcon Cut to Hold at Nordea
* Lagercrantz Cut to Hold at Danske Bank Markets; PT 239 kronor (+)
* Saab Cut to Sell at Danske Bank Markets; PT 510 kronor (+)
* Saab Cut to Hold at Pareto Securities; PT 550 kronor
* Sarepta Cut to Market Perform at Leerink; PT $10
* Sarepta Cut to Market Perform at Leerink; PT $10
* Sarepta Cut to Sell at Deutsche Bank; PT $9
* Sarepta Cut to Neutral at Baird; PT $15
* Talenom Cut to Accumulate at Inderes; PT 4.20 euros
* Tokmanni Cut to Hold at SEB Equities; PT 10.40 euros
* Vaisala Cut to Hold at SEB Equities; PT 55 euros (+)
* Weir Group Cut to Hold at Stifel; PT 2,700 pence (+)
>>> Initiation
* Petrobras ADRs Rated New Outperform at CICC; PT $16
>>> Initiation
* Petrobras ADRs Rated New Outperform at CICC; PT $16
* Ralph Lauren Rated New Outperform at KGI Securities; PT $367.30 (+)
* So-Young ADRs Rated New Outperform at Haitong Intl; PT $10.10
* Tenaris Rated New Outperform at Bernstein; PT 21 euros
* Vallourec Rated New Outperform at Bernstein; PT 22.60 euros
>>> Call
* ABB’s Outlook Supports Further Re-Rating, Citi Raises to Buy
>>> Call
* ABB’s Outlook Supports Further Re-Rating, Citi Raises to Buy
* Goldman Strategists See Weak Dollar as Modest Tariff Offset