Research Market strategy
By Swissquote Analysts
Published on 22.06.2021
Morning news

SentinelOne Announces Launch of Initial Public Offering

Topic of the day

U.S. cybersecurity company SentinelOne set the terms of its initial public offering (IPO), which values the company at up to $7.36 billion (about €6.19 billion). The company intends to raise up to 928 million dollars by placing 32 million shares at a unit price between 26 and 29 dollars. The stock is to be listed on the NYSE under the symbol "S". The group posted a net loss of $117.6 million and revenue of $93.1 million in the year ended Jan. 31, 2021, following a loss of $76.6 million and revenue of $28.1 million the previous year. SentinelOne's cybersecurity solutions encompass AI-powered prevention, detection, response, and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous XDR platform.

Swiss stocks

The Swiss stock market turned positive on Monday after early losses. Meanwhile, the spreading delta variant of the coronavirus caused worry lines and slowed down stocks related to the travel industry. Dufry, for example, fell 2.5 percent. The SMI climbed 0.5 percent to 11,996 points. Among the 20 SMI stocks, there were 15 price gainers and five price losers. 34.62 (previously: 136.59) million shares were traded. Despite a cooperation agreement with Sweden's Selectimmune, Lonza lost 2.5 percent, making it the SMI's worst performer. The recent significant drop in market interest rates in the US slowed down financial stocks. UBS lost 0.5 percent, Credit Suisse closed just in the red. Interest rate-sensitive insurance stocks also lagged the market somewhat, with Zurich Insurance falling 0.3 percent. The day's winner was ABB without news with a premium of 1.7 percent. For the share of Vontobel rose 2.2 percent. On Friday evening, the company had announced that the profit in the first half of 2021 will be higher than in 2020. The papers of the railroad group Stadler gave after a negative egg estimate by Bank of America 1 percent. Mikron's business figures are expected to be significantly better in 2021 than in 2020 - the share price rose by 4.2 percent.

International markets


Major European equity indexes rose Monday as investors digested further comments from central bankers on adjusting monetary policies to inflation risks. The Stoxx Europe 600 index rose 0.7% to 455.2 points. In Paris, the CAC 40 and the SBF 120 gained 0.5% and 0.4% respectively. In Frankfurt, the DAX 30 gained 1% and in London, the FTSE 100 gained 0.6%. Shares in London-listed mining giants Rio Tinto, Glencore, Antofagasta, BHP and Fresnillo were lower. Rio Tinto stock was further weighed on by a downgrade from Swiss bank UBS, which changed its rating on the stock to sell from neutral, noting risks from a more hawkish Fed and China taking actions to deflate commodity prices. The standout stock in Europe was Morrisons - one of the U.K.'s largest supermarket groups and e-commerce giant Amazon's grocery delivery partner in the country. Shares in Morrisons jumped near 32%, as analysts expect the company to attract more takeover bids, after rejecting an GBP8.7 billion ($12 billion) offer from U.S. private-equity firm Clayton, Dubilier & Rice over the weekend. Shares in Vivendi, the French media giant, rose near 1%, after blank-check group Pershing Square Tontine Holdings - founded by billionaire American investor Bill Ackman - agreed to buy 10% of Universal Music Group on Sunday. The deal, for around $4 billion, gives Universal Music an enterprise value of EUR35 billion ($41.6 billion). Pershing Square stock rose more than 2% in the U.S. premarket. Lloyds Banking stock fell near 1%, after a report over the weekend that the group was set to buy its first property under a new plan to diversify its revenues by becoming a private landlord. The bank is close to securing a block of flats in Peterborough, England and could begin renting them out next month, in a move that would make it the first major U.K. retail bank to move into private rentals.

United States

U.S. stocks rallied Monday, lifting the Dow Jones Industrial Average by more than 550 points, as shares of everything from banks to manufacturers climbed. Monday’s moves marked a comeback for stocks after investor anxieties about the Federal Reserve’s path for monetary policy sent the Dow on its biggest decline since late October. Initial worries centered around Fed officials signaling they may raise interest rates sooner than anticipated due to the rebounding economy. The Dow industrials added 586.89 points, or 1.8%, to 33876.97. The S&P 500 rose 58.34 points, or 1.4%, to 4224.79 and the Nasdaq Composite climbed 111.10 points, or 0.8%, to 14141.48. Stocks rose broadly Monday, with all 11 sectors of the S&P 500 finishing higher. Shares of industrial and financial stocks, which tend to be sensitive to changes in the economic outlook, helped lead Monday’s gains. Morgan Stanley rose $1.85, or 2.2%, to $85.94 while Bank of America added 97 cents, or 2.5%, to $39.75. Among manufacturers, Boeing rose $7.93, or 3.3%, to $245.28 and Caterpillar added $4.35, or 2.1%, to $213.21. Meanwhile, online hiring marketplace ZipRecruiter jumped $2.25, or 11%, to $23.51 after analysts at Goldman Sachs and Raymond James gave the stock a “buy” rating. Cryptocurrency exchange Coinbase bucked the trend, falling $6.69, or 2.9%, to $222.60 as bitcoin and ether prices extended recent declines. The digital assets have come under pressure in recent weeks as China has intensified a clampdown on bitcoin mining.


The East Asia stock market recovery is led by the Tokyo exchange, where the Nikkei 225 index rises 3.0 percent to 28,845 points. In Seoul, the Kospi advances 0.8 percent. The Shanghai stock exchange is up 0.8 percent, the Hong Kong stock market has recovered initial losses and closes unchanged.


While stocks rallied, government bond prices retreated. Yields for benchmark bonds on Monday climbed higher on the long-end of the curve, with the long bond notching its sharpest yield climb since March. The 10-year Treasury note yield was at 1.481% from 1.449% Friday.


Hauck&Aufhäuser raises Atoss target to EUR 204 (187) - Buy
Morgan Stanley increases Covestro target to EUR 70 (67) - Overweight
UBS raises Santander target to EUR 4 (3.65) - Buy

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