Gapping down
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- VFC -11.8%, JHX -5.1%, WIX -4.5%, CVAC -4.4%, CLCO -3.6%, TGT -3.6%, PANW -3.5%, VSAT -0.9%
Other news:
- WOLF -60.4% (preparing to file for bankruptcy within weeks, according to WSJ)
- CRI -9.4% (lowers dividend) QXO -8% (launches stock offering totaling $1 bln)
- CTRI -7.2% (Southwest Gas (SWX) announces pricing of secondary public offering of 9.0 mln shares of Centuri Holdings common stock at $17.50 per share)
- GRDN -6% (announces launch of 7.5 mln share offering, comprised of 6,059,553 shares by selling stockholders and 1,440,447 newly issued shares offered by Guardian)
- TTWO -4.3% (prices offering of 4.75 mln shares of common stock at $225.00 per share)
- OSUR -3.9% (files for $300 mln mixed securities shelf offering)
- TPG -3.7% (prices secondary offering of 21.0 mln shares of common stock at $47.25 per share)
- CIFR -3.4% (prices offering of $150.0 mln of convertible senior notes due 2030)
- GTX -3.3% (announces 17 mln share offering by selling shareholders; 2 mln share concurrent repurchase by GTX)
- MRNA -2.6% (announced that in consultation with the FDA, the Company has voluntarily withdrawn the pending BLA for mRNA-1083)
- NU -2.5% (COO stepping down)
- IONQ -1.1% (partners with Sweden's Einride to develop quantum supply chain)
- FOUR -1.1% (further extends previously announced tender offer to acquire Global Blue)
Gapping up
In reaction to earnings/guidance:
In reaction to earnings/guidance:
- GOOS +7.6%, DY +6.9%, KEYS +5.7%, XPEV +5.2%, EVLV +4.3%, WB +4.3%, TOL +4%, XP +2.3% (also authorizes new R$1 bln share repurchase program; also approves cancellation of existing treasury Class A shares), MOD +2.3%, BIDU +2.1%, FINV +2%, WRD +1.8%, LOW +1.8%, ZTO +0.9%, TUYA +0.8%
Other news:
- AKYA +11.3% (received an unsolicited acquisition proposal from a third party to acquire Akoya in an all cash tender offer transaction)
- BLTE +5% (receives FDA Breakthrough Therapy Designation for Tinlarebant)
- GNFT +3.9% (to receive a €26.5M milestone payment)
- SLNO +3.6% (data relating to VYKAT XR)
- MTUS +3.5% (names new COO and new CFO)
- SDHC +1.9% (two directors disclose insider buys)
- BHC +1.9% (entered into letter agreements with Carl Icahn, John Paulson, among others)
- RTX +1.4% (confirms plans for "Golden Dome for America")
- SLSR +1% (enters into $200 million financing agreements with Royal Gold (RGLD) to advance the Warintza project)
Research Calls I
-
Upgrades
- Acadia Pharmaceuticals (ACAD) upgraded to Buy from Hold at Deutsche Bank, tgt $35
- AutoZone (AZO) upgraded to Buy from Neutral at BofA Securities, tgt $4,800
- Bilibili (BILI) upgraded to Buy from Hold at HSBC, tgt $22.50
- Home Depot (HD) upgraded to Buy from Hold at Stifel, tgt $425
- Acadia Pharmaceuticals (ACAD) upgraded to Buy from Hold at Deutsche Bank, tgt $35
-
Downgrades
- CAE (CAE) downgraded to Sector Perform from Outperform at RBC Capital
- Myriad Genetics (MYGN) downgraded to Sector Perform from Outperform at Scotiabank, tgt $6
- PennantPark (PNNT) downgraded to Sell from Neutral at Compass Point, tgt $5.75
- UnitedHealth (UNH) downgraded to Reduce from Hold at HSBC, tgt $270
- CAE (CAE) downgraded to Sector Perform from Outperform at RBC Capital
-
Others
- Atlas Energy (AESI) initiated with a Buy at Stifel, tgt $15
- Atlantic Union Bankshares (AUB) initiated with a Buy at Jefferies, tgt $37
- Axos Financial (AX) initiated with a Buy at Jefferies, tgt $90
- Banc of California (BANC) initiated with a Buy at Jefferies, tgt $18
- BankUnited (BKU) initiated with a Hold at Jefferies, tgt $39
- BOK Financial (BOKF) initiated with a Hold at Jefferies, tgt $105
- Cathay General (CATY) initiated with a Buy at Jefferies, tgt $53
- CF Bankshares (CFBK) assumed with an Overweight at Piper Sandler, tgt $29
- Citizens Financial (CFG) initiated with a Buy at Jefferies, tgt $50
- Columbia Banking (COLB) initiated with a Hold at Jefferies, tgt $27
- Comerica (CMA) initiated with an Underperform at Jefferies, tgt $47
- Cullen/Frost (CFR) initiated with an Underperform at Jefferies, tgt $105
- Eagle Bancorp (EGBN) initiated with a Hold at Jefferies, tgt $20
- East West Bancorp (EWBC) initiated with a Buy at Jefferies, tgt $115
- Fifth Third (FITB) initiated with a Buy at Jefferies, tgt $47
- First Citizens (FCNCA) initiated with a Hold at Jefferies, tgt $2,050
- First Foundation (FFWM) initiated with a Buy at Jefferies, tgt $7
- First Horizon (FHN) initiated with a Buy at Jefferies, tgt $25
- Flagstar Financial (FLG) initiated with a Buy at Jefferies, tgt $15
- Huntington Bancshares (HBAN) initiated with a Buy at Jefferies, tgt $20
- Intel (INTC) resumed with a Hold at Deutsche Bank, tgt $23
- KeyCorp (KEY) initiated with a Hold at Jefferies, tgt $18
- M&T Bank (MTB) initiated with a Buy at Jefferies, tgt $225
- Old National Bancorp (ONB) initiated with a Hold at Jefferies, tgt $24
- Pinnacle Financial (PNFP) initiated with a Buy at Jefferies, tgt $135
- Prosperity Bancshares (PB) initiated with a Buy at Jefferies, tgt $85
- Regions Financial (RF) initiated with a Hold at Jefferies, tgt $24
- SelectQuote (SLQT) initiated with a Hold at Jefferies, tgt $2.75
- South State (SSB) initiated with a Buy at Jefferies, tgt $110
- Synovus (SNV) initiated with a Hold at Jefferies, tgt $55
- Texas Capital (TCBI) initiated with a Hold at Jefferies, tgt $80
- Tvardi Therapeutics (TVRD) initiated with an Outperform at Oppenheimer, tgt $65
- Tyra Biosciences (TYRA) assumed with an Overweight at Piper Sandler, tgt $33
- Valley National (VLY) initiated with a Hold at Jefferies, tgt $10
- Webster Financial (WBS) initiated with a Buy at Jefferies, tgt $65
- Western Alliance (WAL) initiated with a Buy at Jefferies, tgt $95
- Wintrust Financial (WTFC) initiated with a Buy at Jefferies, tgt $145
- Zions Bancorp (ZION) initiated with an Underperform at Jefferies, tgt $40
- Atlas Energy (AESI) initiated with a Buy at Stifel, tgt $15
Early premarket gappers
-
Gapping up:
- GOOS +6.3%, WB +6.2%, XPEV +5.1%, BLTE +5%, TOL +4.8%, EVLV +4.7%, KEYS +4.7%, TUYA +4.3%, FINV +4.3%, GNFT +3.9%, WRD +3.8%, SLNO +3.6%, MTUS +3.5%, LOW +2.6%, BIDU +2.4%, SDHC +1.9%, AKYA +1.9%, BHC +1.9%, RTX +1.6%, MOD +1.4%, SLSR +1%, XP +0.8%, KHC +0.7%, FLNG +0.7%
-
Gapping down:
- WOLF -57.2%, VFC -10.7%, QXO -8.7%, CRI -7.6%, CTRI -7.2%, GRDN -6%, JHX -5%, TTWO -4.6%, TPG -4.4%, CIFR -4.2%, CVAC -4.2%, OSUR -3.9%, PANW -3.7%, GTX -3.4%, CLCO -3.4%, WIX -2.9%, NU -2.8%, TGT -1.6%, FOUR -1.1%, UBER -0.9%, VSAT -0.9%, BILI -0.8%
>>> Up
* ABN Amro GDRs Raised to Equal-Weight at Morgan Stanley
* AIB Group Raised to Equal-Weight at Morgan Stanley
* ASM International Raised to Buy at UBS; PT 570 euros
* ASM International Raised to Buy at UBS; PT 570 euros
* ASML Raised to Buy at UBS; PT 570 euros
* Babcock PT Raised to 1,100 pence from 1,000 pence at JPMorgan
* Capricorn Energy Raised to Buy at Canaccord; PT 360 pence
* Fluidra Raised to Neutral at BNPP Exane; PT 22 euros
* Henkel Raised to Buy at Deutsche Bank; PT 80 euros
* Just Eat Takeaway Raised to Neutral at Redburn; PT 20.30 euros
* Lagercrantz Raised to Buy at Danske Bank Markets; PT 256 kronor (+)
* Land Sec. Raised to Buy at Kepler Cheuvreux (+)
* Orsted Raised to Neutral at BNPP Exane; PT 300 kroner
* Phoenix Group Raised to Buy at Citi; PT 730 pence
>>> Down
>>> Down
* Assa Abloy Cut to Hold at Pareto Securities; PT 340 kronor
* Bakkafrost Cut to Hold at Nordea
* Acciona Cut to Neutral at CaixaBank BPI; PT 149 euros (+)
* Eckert & Ziegler Cut to Hold at Hauck & Aufhaeuser; PT 70 euros (+)
* Forsee Power Cut to Hold at Kepler Cheuvreux (+)
* Fortum Cut to Sell at Citi; PT 13 euros
* Fortum Cut to Sell at Citi; PT 13 euros
* Handelsbanken Cut to Reduce at Kepler Cheuvreux (+)
* Nordea Bank Cut to Reduce at Kepler Cheuvreux (+)
* Orsted Cut to Hold at Fearnley; PT 300 kroner (+)
* Sartorius Stedim Cut to Sector Perform at RBC; PT 240 euros
* SEB Cut to Hold at Kepler Cheuvreux (+)
* SmartCraft Cut to Neutral at Cantor; PT 26 kroner (+)
* Terveystalo Cut to Reduce at Inderes; PT 12.50 euros
>>> Initiation
>>> Initiation
* Bank of Cyprus Rated New Buy at Alpha Finance; PT 7.50 euros
* Bawag Reinstated Buy at William O'Neil
* Swiss Life Rated New Outperform at Oddo BHF; PT 900 Swiss francs
* Swiss Life Rated New Outperform at Oddo BHF; PT 900 Swiss francs
* Uniqa Rated New Buy at Berenberg; PT 14.50 euros
>>> Call
>>> Call
* Fortum Cut to Sell at Citi, Shares Running Ahead of Fundamentals
* Hedge Funds Sell Magnificent 7, Add China ADRs in 1Q: Goldman
* Kering’s Smart Glasses Foray Follows EssilorLuxottica: Bernstein (+)
* Morgan Stanley Strategists Say Buy America Except the Dollar
* Morgan Stanley Strategists Say Buy America Except the Dollar
* MS Cross-Asset Team Turns Overweight on US Stocks, Treasuries
* Swiss Life a ‘Safe Haven,’ Initiated Outperform at Oddo BHF
Oil rose on a CNN report that new US intelligence suggested Israel is preparing for a potential strike on Iranian nuclear facilities. Brent crude rose 1.7%. It wasn’t clear that Israeli leaders had made a final decision to carry out the strikes, CNN said, citing officials it didn’t name. The Swiss franc and the yen, traditional haven assets, inched higher amid a broad weakening of the dollar. Yields on Japanese super-long sovereigns dipped after Tuesday’s surge, while those on the 30-year US Treasury hovered around the 5% mark. Contracts for the S&P 500 and the Nasdaq 100 dropped 0.3%. Asian shares rose 0.7%. Geopolitical tensions may add headwinds to the markets, which had calmed recently after a month of turmoil from the tariff blitz unleashed by US President Donald Trump. Investors are scouring for clues on whether recent gains in stocks can sustain, even as the Federal Reserve waits to gain a clearer view of the economy before lowering interest rates. Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks, which could pave the way for more barrels to return to a market that’s expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to unrest in the Middle East, which supplies about a third of the world’s crude. The tensions triggered dollar selling and yen buying by risk-averse investors. A gauge of the greenback declined for a third straight day. “The US dollar has of course lost its luster as the undisputed safe reserve asset,” said Richard Franulovich, head of FX strategy at Westpac Banking Corp. As such, “these periodic geopolitical flare ups are going to show up more forcefully in alternatives like the yen and Swiss franc going forward.” A weaker dollar and lower interest rates will aid Asian shares, Morgan Stanley strategists said. The Morgan Stanley Asia Pacific Index rose 0.6% Wednesday, helped by technology companies such as Taiwan Semiconductor Manufacturing Co. and financial firms such as Mizuho Financial Group Inc. Asian markets could benefit further from a rotation out of US assets, but that depended on whether trade deals can be reached before the July 8 expiry of the 90-day US tariff pause, according to Bloomberg Intelligence. A weaker dollar is driving “hot money inflows” across emerging Asia as local currencies strengthen. Long-term Treasury yields climbed Tuesday as fractious US budget negotiations kept focus on the growth in deficit spending, with traders piling into bets that they will surge further. Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill. Traders are piling into bets that long-term Treasury yields will surge on concerns around the US government’s swelling debt and deficits. Bets favoring the 10-year yield testing 5% are among some of the bigger positions. In Japan, the sovereign debt market is flashing a warning to the central bank that dialing back its bond purchases needs to be done with great care. The issue is in sharp relief this week, with investors shunning an auction of government debt and yields soaring, just as market participants sit down with Bank of Japan officials to share views on tapering. Meanwhile, Federal Reserve Bank of St. Louis President Alberto Musalem said tariffs will likely weigh on the US economy and weaken the labor market. Musalem said the Fed can deliver a “balanced response” to both inflation and employment as long as Americans’ outlook on future prices remains anchored at the central bank’s 2% target. US After Hours PANW -4.2% lower on earnings; WOLF -58.2% on WSJ report it's preparing to file for bankruptcy; TOL +5.4% higher on earnings.
Nikkei -0.48% Hang Seng +0.62% CSI +0.56% Shanghai +0.24% Shenzen +0.10%
Eur$ 1.1320 CNH 7.2050 CNY 7.2073 JPY 143.78 GBP 1.3433 CHF 0.8223 RUB 80.9264 TRY 38.8376 WTI$ 63.23 +1.97% Gold 3,304 +0.42% BTC 107,626 +0.63% ETH 2,557 +1.74%
S&P -0.44% Nasdaq -0.50% EuroStoxx -0.18% FTSE +0.08% Dax -0.08% SMI -0.48%
Macro :
- Hedge Funds Cut Magnificent Seven Stocks, Bought China ADRs
- EU Likely to Propose Quota to Ban Russia Gas Imports by End 2027
- EU Likely to Propose Quota to Ban Russia Gas Imports by End 2027
- SEC Charges Unicoin and Executives With $100 Million Fraud
- Morgan Stanley Strategists Say Buy America Except the Dollar
- FAA Cuts Newark Airport Flights After Air Traffic Control Issues
- Scientists warn if a 1,000-ft ‘mega-tsunami’ spurs from an active fault line it could wipe part of America off the map
Keep an eye on :
Keep an eye on :
- ADT AU : Adriatic Metals Confirms Dundee Precious Metals Takeover Talks
- AAPL US : Apple’s Tim Cook Met With Trump Today, Politico Reports
- 1211 HK : BYD : +3.30%
- CMBT BB : CMB Tech 1Q EPS Misses Estimates
- 3750 HK : CATL : +8.50%
- CIFR US : Cipher Mining Prices $150m Convertible Senior Notes Due 2030
- CVC NA : Blackstone, CVC Split From Group Formed to Invest in NFL Teams
- EFGN SW : EFG AuM Totalled CHF159.2B at End-April Vs CHF165.5B at End-2024
- ELI BB : Elia Group Maintains FY Net Income Forecast
- EMILB SS : Emilshus Offering of 12m Shares Prices at SEK45.50/Share
- EBK GY : EP Energy to Buy Lippendorf Lignite Power Unit From EnBW
- EBK GY : EP Energy to Buy Lippendorf Lignite Power Unit From EnBW
- GREEN BB : Greenyard Cuts 2026 Adjusted Ebitda From Continuing Ops Forecast
- HEIO NA : Femsa’s €359M Heineken Stake Sale Said to Draw About 100 Orders
- HBH GY : Hornbach Holding FY Adjusted Ebit EU269.5M
- IDIA SW : Idorsia Signs CHF150M New Money Facility From Bondholders
- IFX GY : Infineon to revolutionize power delivery architecture for future AI server racks with NVIDIA
- BAER SW : Julius Baer Takes $156 Million Loan Hit as New CEO Seeks Cleanup
- LDO IM : Leonardo to Supply Malaysia With Up to 28 Helicopters
- LDO IM : Leonardo to Supply Malaysia With Up to 28 Helicopters
- ML FP : Michelin April Car and Light Truck Original Equipment Tires -4%
- MUSTI FH : Musti Group 2Q Net Sales EU119.8M
- 7201 JP : In Latest EV Pullback, Ford to Share Battery Plant With Nissan -- WSJ
- NVDA US : Nvidia CEO Urges US to Lower Barriers to $50 Billion China Arena
- ORNBV FH : Orion: MSD Expands Clinical Development Program for Opevesostat
- PFE US : China Drugmakers Rally for a Second Day After Pfizer-3SBio Deal
- 1913 HK : Prada +1.15%
- PRS SM : Prisa Appoints CFO Gil as CEO of Prisa Media
- RIO LN : Rio Tinto to Apply for Third Lithium Project in Argentina
- ROG SW : Roche Says FDA Committee Requires Further Data on Columvi
- 9984 JP : SoftBank Taps Mizuho, SMBC, JPMorgan to Lead $15 Billion Loan
- STLA US : Stellantis in Talks With PSG on Potential Poissy Stadium: Echos
- TSLA US : Musk Is Fully Committed to Trump, Will Stay As Adviser: Reuters
- HO FP : French Prosecutors Claim Najib Role in 2002 Defense Deal Bribes
- WOLF US : Wolfspeed Prepares to File for Bankruptcy Within Weeks -- WSJ
- YPSN SW : Ypsomed Sees 2026 Ebit CHF190M to CHF210M, Est. CHF203.4M
>>> Up
* ABN Amro GDRs Raised to Equal-Weight at Morgan Stanley
* AIB Group Raised to Equal-Weight at Morgan Stanley
* ASM International Raised to Buy at UBS; PT 570 euros
* ASM International Raised to Buy at UBS; PT 570 euros
* ASML Raised to Buy at UBS; PT 570 euros
* Babcock PT Raised to 1,100 pence from 1,000 pence at JPMorgan
* Capricorn Energy Raised to Buy at Canaccord; PT 360 pence
* Fluidra Raised to Neutral at BNPP Exane; PT 22 euros
* Henkel Raised to Buy at Deutsche Bank; PT 80 euros
* Just Eat Takeaway Raised to Neutral at Redburn; PT 20.30 euros
* Orsted Raised to Neutral at BNPP Exane; PT 300 kroner
* Phoenix Group Raised to Buy at Citi; PT 730 pence
>>> Down
>>> Down
* Assa Abloy Cut to Hold at Pareto Securities; PT 340 kronor
* Bakkafrost Cut to Hold at Nordea
* Fortum Cut to Sell at Citi; PT 13 euros
* Fortum Cut to Sell at Citi; PT 13 euros
* Sartorius Stedim Cut to Sector Perform at RBC; PT 240 euros
* Terveystalo Cut to Reduce at Inderes; PT 12.50 euros
>>> Initiation
>>> Initiation
* Bank of Cyprus Rated New Buy at Alpha Finance; PT 7.50 euros
* Bawag Reinstated Buy at William O'Neil
* Swiss Life Rated New Outperform at Oddo BHF; PT 900 Swiss francs
* Swiss Life Rated New Outperform at Oddo BHF; PT 900 Swiss francs
* Uniqa Rated New Buy at Berenberg; PT 14.50 euros
>>> Call
>>> Call
* Fortum Cut to Sell at Citi, Shares Running Ahead of Fundamentals
* Hedge Funds Sell Magnificent 7, Add China ADRs in 1Q: Goldman
* Morgan Stanley Strategists Say Buy America Except the Dollar
* Morgan Stanley Strategists Say Buy America Except the Dollar
* MS Cross-Asset Team Turns Overweight on US Stocks, Treasuries
* Swiss Life a ‘Safe Haven,’ Initiated Outperform at Oddo BHF