Stocks on the Rise

Abivax (+22%): According to La Lettre, American giant Eli Lilly remains interested in acquiring the French biotechnology company and is reportedly willing to pay $15 billion for the deal. The stock had previously dropped as Lilly had shifted its focus to a competitor, Ventyx.

Oxford Nanopore (+9%): The UK-based molecular detection technology company announced its 2025 revenue is estimated between £223 and £224 million, representing a 24% growth at constant exchange rates. This is just above the initial forecast. The S&P Capital IQ consensus (11 analysts) had anticipated £220.3M.

BE Semiconductor (+7%): The Dutch company stated that its orders should reach €250 million in Q4 2025, compared to €174.7M in Q3 and €128M in Q2. The semiconductor production equipment maker confirms that the rise of AI is driving its business.

Exosens (+6%): The French group announced a major order from ACTinBlack for its latest 5G image intensifier tubes. The order covers more than 7,000 intensifier tubes, to be delivered between 2027 and 2028. These tubes will be integrated into night vision goggles.

TKMS (+6%): Ongoing talks between Germany and India are expected to allow the German industrial group to sign an order for six submarines worth eight billion euros, which will be built in India.

Fresnillo (+6%): Record gold prices and a rebound in silver are boosting the share price of the miner exposed to both precious metals.

Atos SE (+3%): Invest Securities reiterates its "buy" rating on the company with a target price adjusted from €62 to €64, following the asset disposals announced in December (Latin America and Scandinavia) as part of the Genesis plan's refocusing strategy.

Stocks on the Decline

SoftwareOne (-9%): Morgan Stanley downgraded the stock from market weight to underweight, with a reduced target price from CHF 8.10 to CHF 7.90. The broker has lowered its outlook on numerous European IT sector players, as detailed below.

Netcompany (-4%): Again, Morgan Stanley moved from market weight to underweight, but raised the target price from DKK 312 to DKK 332.

Barclays (-4%): Donald Trump's proposal to cap credit card APRs at 10% could squeeze margins for Barclays' US retail banking arm, notes AlphaValue. "The group's exposure remains limited, however, as US cards represent less than 4% of Barclays' market value," the broker points out.

Sinch (-4%): Guess who? Morgan Stanley again moves from market weight to underweight, while raising the target price from SEK 22.50 to SEK 27.50.

TietoEvry (-4%): The inevitable Morgan Stanley moves from market weight to underweight, reducing the target price from €18.75 to €18.

Capgemini (-3.7%): No surprise, Morgan Stanley moves from market weight to underweight, lowering the target price from €145 to €142. The research firm believes the group's organic growth will remain constrained due to political turmoil in France and global competition from AI.

ArgenX (-2%): The market is somewhat disappointed by the preliminary revenue figure of $4.15 billion announced for 2025.