>>> US Gapping Up

Gapping up
In reaction to strong earnings/guidance: RHT +5.9%, RAD +0.9%

M&A news: WCIC +36.7% (to be acquired by Lennar (LEN) in a cash and common stock transaction valued at $23.50/share), LEN +2.4%

Select financial related names showing strength: CS +3.3%, DB +3.2%, BCS +2.2%, SAN +2%, PUK +1.7%

Select metals/mining stocks trading higher: MT +4%, BBL +3.8%, FCX +3.6%, BHP +3.2%, RIO +3.2%, X +3%,AG +2.6%, GOLD +2.1%

Select oil/gas related names showing strength: STO +3%, BP +2.9%, WLL +2.8%, SDRL +2.4%, RDS.A +2.3%,CHK +2.2%, MRO +1.7%, TOT +0.9%

Other news: OCRX +18.8% (completes enrollment in STOP-ALF, a Phase 2a clinical trial to evaluate the Safety and Tolerability of Ornithine Phenylacetate in patients with Acute Liver Failure), AVXL +14.9% (presents preclinical data demonstrating that ANAVEX 2-73), URRE +9.6% (to acquire certain placer mining claims comprising the Sal Rica lithium brine project from Mesa Exploration), GALT +9.6% (following 35% move higher), NVAX +9.3% (Director disclosed purchase of 100K shares, worth total of $144.9K), NVAX +9.3% (following 30%+ move higher), TTOO +5.7% (presents data on the T2MR technology for the detection of Borrelia directly from whole blood samples at the Diagnostic Tests for Lyme Disease Conference), BSPM +4.5% (signs LOI to acquire 100% of equity interest in Xianyang Yongsheng in exchange for cash and issuance of shares of its restricted common stock), AQXP +3.2% (Baker Bros increases active stake to 45.1% ), IONS +3.1% (publication of key clinical results of two randomized controlled studies), HH +2.8% (announces a $1.8 mln private placement equity offering to certain accredited investors; co sold approx. 1.3 mln shares at $1.35/share), IRBT +2.8% (light volume - awarded $23 mln US Navy contract modification), FLEX +2.3% (favorable commentary on Wednesday's Mad Money), BUD +2.2% (still checking), KDMN +2.1% ( doses first patient in a Phase 2 clinical trial of KD025 for the treatment of chronic graft-versus-host disease; also initiates placebo-controlled Phase 2 clinical trial evaluating KD025 in Psoriasis), SRPT +1.8% ( announces a $225 mln underwritten public offering of common stock), CRM +1.8% (Salesforce.com and Cisco (CSCO) announce global strategic allianceg), ADMP +1.2% (Adamis Pharma higher on light volume as Mylan (MYL) CEO appears before Congress)

Analyst comments: FATE +6.6% (initiated with a Buy at ROTH Capital), PBYI +4.9% (target raised to $111 from $54 at Credit Suisse), TI +2.2% (upgraded to Outperform from Neutral at Macquarie), BABA +1.9% (target raised to $125 at Stifel), BLUE +1.7% (resumed with a Buy at ROTH Capital), AAPL +0.5% (target raised to $125 at RBC Capital Mkts; raised to $135 from $120 at Nomura)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • MLHR -9.8%, ALOG -5%, JBL -3.9%, (also details restructuring plan, sees approximately $195 mln in pre-tax restructuring and other related costs)
Other news:
  • CPK -3.1% (prices 835,207 share underwritten public offering of common stock at $62.26/share)
  • SFLY -1.5% (modestly higher in after hours - attributed to Robert W. Baird suggesting today's move is overreaction to the new competing Amazon product)
  • TBIO -0.8% (signs a data sharing agreement with Roche (RHHBY) subsidiary Ventana Medical Systems)
Analyst comments:
  • PSO -0.9% (downgraded to Neutral from Outperform at Exane BNP Paribas)

>>> US Early premarket gappers

Early premarket gappers

Gapping up: WCIC +36.9%, OCRX +18.8%, URRE +9.6%, NVAX +7.7%, RHT +7.7%, AQXP +7.1%, GALT +5.8%,BBL +3.3%, DB +3.2%, CS +2.9%, HH +2.8%, IRBT +2.8%, MT +2.8%, BHP +2.6%, DRD +2.5%, RIO +2.5%, BP+2.4%, CHK +2.2%, SAN +2.2%, KDMN +2.1%, FCX +2%, SDRL +1.9%, BUD +1.8%, WLL +1.6%, AG +1.6%, MRO+1.6%, RDS.A +1.5%, GOLD +1.5%, NOK +1.4%, BCS +1.3%, ALV +1.3%, X +1.3%, ADMP +1.2%, PUK +1.2%, STO+1.2%, VRX +0.9%, BABA +0.9%, AZO +0.5%

Gapping down: MLHR -9.8%, ANDE -5.4%, ALOG -5%, JBL -4.8%, HMY -2.9%, CPK -2.1%, CPK -2.1%, LYG -2%,SFLY -1.5%, SBGL -1.4%, HSBC -1.4%, PSO -1.3%

Handelsblatt : Deutsche Bank Under Attack, Again

Deutsche Bank Under Attack, Again

As if last week’s $14-billion claim from U.S. authorities wasn’t enough, confidence in Deutsche Bank has been hit this week by a warning from a U.S. watchdog that it’s far more fragile than its competitors.


Germany’s largest and most troubled bank received more bad news this week when U.S. Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig released figures on the leverage of the world’s biggest banks, reflecting the stability of the financial system.
The data showed that Deutsche Bank has a far thinner cushion than other banks if a crisis arises — only half as thick, in fact, as the average of its competitors in the United States and the rest of the world.
According to Mr. Hoenig’s calculations, the bank has a leverage ratio — capital against assets — of just 2.68 percent. The ratio is seen as a key benchmark for gauging a bank’s resilience to shocks. Deutsche Bank itself says it has a leverage ratio of 3.4 percent.

>>> Airbus Helicopter business should be impacted -velt by Drone business

>>> Airbus Helicopter business should be impacted -velt by Drone business...have a look to this Article on consolidation int he Drone business as news solutions to replace costly helicopters are growing



Airware buys Redbird to build a full-stack commercial drone services empire
“I want to be the global leader. I don’t want to build the non-relevant European or French player.” That’s why Emmanuel de Maistre just sold Redbird, his drone-powered analytics provider for construction and mining companies, to US drone services giantAirware.
Together they can sell package of aerial vehicle hardware, flight software, data collection, cloud management, and actionable insights to Fortune 500 companies who don’t know how to drone by themselves.
Redbird was actually the first investment from Airware’s own Commercial Drone Fund back 2015, which contributed to its $3.19 million in venture capital. Airware CEO Jonathan Downey tells me he’s vetted 115 drone investment pitches, and Redbird remained so impressive that he decided to buy it when the French startup began looking to raise more money.
Airware wouldn’t reveal the price it paid, but CEO Jonathan Downey told me “It’s a lot more than an acquihire.” Airware is buying Redbird’s 38 team members as well as their technology and business, which will continue to run under its own brand in Europe. Redbird’s Paris office will also become Airware’s European headquarters, powering the American startup’s expansion there.
Airware has raised $70 million for itself since 2011, originally building a drone operating system for controlling aerial vehicles, carrying out data collection flights, and providing cloud management and analytics for the data to industrial clients.

Early this year, Airware began building hardware itself when necessary to offer complete end-to-end drone services. Yet now, it’s finding that high-end consumer drones equipped with its software can get the job done. That means it’s cooperating more than competing with Chinese manufacturer DJI, one of the few other drone giants.
Downey tells me “DJI started as consumers vehicles. Over time they’ve been able to address more and more of these commercial applications if you marry them with the right enterprise software.”
The acquisition allows Airware to concentrate on the insurance vertical where it helps State Farm and other customers with inspecting roofs, residential claims management, and commercial underwriting. Redbird will try to expand its lead as a provider for providing mines, quarries, and construction sites with drone-captured aerial data an analytics about their production quantities and pace, their efficiency, and their safety compliance.
Without drones, big businesses are forced to rely on expensive helicopters, limited satellite photography, or fragile human beings climbing ladders and dangling from harnesses. It’s rare that technology makes something instantly better, cheaper, and safer. Airware is betting that buying a foothold in the construction and mining drone business could turn into massive footprint as the market grows.

(DBK) Luxury Goods Quaterly

the valuation disconnect
The sector has bounced back and re-rated from 17.5x to 20.4x on 12-month forward PER. It is not unusual to see pricey valuation on the market these days, and relative valuation is indeed in line with history. However, the disconnect exposes the risk of sharp share price moves in the case of disappointment and already anticipates a recovery that is not yet visible. Our selective approach continues to privilege LVMH, Moncler and Yoox-Net-a-Porter. We recently upgraded Luxottica to Buy in a secular positive call on the eyewear sector.