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"CAPIS Morning Note -12/22/20: Yippee Ki Yay We Have A Stimulus Deal Passed, Futures Up Modestly"

posted by CAPIS on 12/22/2020 at 7:50 am

by CAPIS

12/22/2020 at 7:50 am

Market Tone:

Covid-19 Statistics: 

Total Cases 17,828,084 from 17,647,893

Deaths 310,968 from 309,449

New Tests 2,076,374 from 1,764,566

New Cases 178,191 from 194,988 with positivity rate of 8.5% (down 2.4)

Daily Deaths 1,485

Current Hospitalizations 115,351 from 113,663

Capital Raises:

IPOs Priced: 

Secondaries Priced:   None of note.

Notes Priced of note: None of note.

Common Stock filings:  VERO  of note.

Selling Shareholders of note: None of note.

Mixed Shelf Offerings: XCUR of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Earnings Out After The Close:

Beats: HEI +0.04

Flat:  none

Misses: CVGW -0.30

News After The Close (sorted by time starting at the close):

FDA asks for more information on Orasure (OSUR) Covid-19 antibody test.

Softbank submits a SPAC filing and intends to raise over $500 million.

Lordstown Motors (RIDE) wins contract for 80,000 full size all electric pickup truck.

Index Changes KNSL to join S&P 400 – out TCO, SMPL to join S&P 600- out KNSL. TCO is being bought by SPG.

Congress passes $900 billion stimulus plan and $1.4 trillion omnibus spending bill through 9/30/21.

Dividend Increase:  SFBS  STAY (special distributon) 

Raises Guidance: 

Lowers Guidance: CVGW

Stock Buyback New Or Increase:

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures plummeted from 2:00 a.m. to 6:00 a.m EST  over 100 points on the S&P 500.

S&P 500 +6   Dow Jones Industrial Average -5   NASDAQ +60    Russell 2000 +10 . Fair values are higher ex the Russell 2000. Asia lower and Europe higher. VIX is at 25.16  from 23.95  this morning in futures. VIX closed at 25.75 from 28.25  and the three month futures at from 25.15.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $137.84 from $138.09 with the yield at 0.% from 0.896%.

Positive Sectors On Monday: Technology of note.

Negative Sectors On Monday: Energy, Utilities and Consumer Defensive of note. 

One Month Winners: Energy, Financials Real Estate and Industrials  of note.

Three Month Winners: Industrials, Communication Services, Utilities and Financials of note.

Six Month Winners: Consumer Cyclical, Industrials, Technology and Materials of note.

Twelve Month Winners: Technology, Consumer Cyclical, Communication Services and Healthcare of note.

Year to Date: Technology, Consumer Cyclical, Communication Services, Healthcare and Materials of note.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: none of note.

Wednesday Before the Open: PAYX of note.

Earnings This Morning Of Note:

Beats: KMX +0.30

Flat: none

Misses: none

Still to Report: CTAS, NEOG

Erlanger Research Advance/Decline Chart –  Updated 12/21 Close.

Gap Ups & Down In Early Pre-Market:

Gap Up:

SMPL +12%, ZIOP +10%, SFBS +10%, PTON +8%, PTAC +8%, NLS +4%, CLW +4%

Gap Down:

VRTV -21%, VERO -16%, CVGW -16%, CCXI -8%, XCUR -7%, KNSL -5%

Rags & Mags: Highlighted Stories may be clicked through to the original story. 

Stocks Making The Biggest Moves – PTON SPWH   (CNBC)

5 things to know before the market opens. (CNBC)

Biggest analyst calls of the day – JPM PTON MSFT TMUS . (CNBC Pro)

What is in the Stimulus Bill? (CNBC)

Dr. Moncef Slaoui says no evidence the U.K. variant of Covid-19 is more contagious or powerful. (The Hill)

3 million travelers passed through TSA in 3 days. (NYT)

Russian hackers broke into Treasury senior leader’s emails. (NYT)

Sinovac (SVC) vaccine effective in Brazil trial. (WSJ)

Stock Index Trading:

Current through 12/21 close. Overall confidence moves from 100% to 83%.

Bold means a change from prior day.

Economic:

Q3 GDP (final estimate) is due out at 8:30 a.m. EST and is expected to remain at 33.1%. Moves to 33.4%.

December Consumer Confidence is due out at 10:00 EST and is expected to rise to 96.5 from 96.1.

November Existing Home Sales are due out at 10:00 a.m. EST and is expected to fall to 6.80 million from 6.85 million.

Weekly API Petroleum Institute data is due out at 4:30 p.m. EST.

Geopolitical & Related:

President Trump has no public events on the docket.

Investor Meetings & Conferences of Note:

 HMMR NBSE (Investor Day)  

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity:

Peleton (PTON) to buy Precor for $420 million.

Upgrades & Downgrades:

DISCLAIMER

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