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09.30.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 1/21/21: President Biden Using Executive Order Extensively, Futures Positive"

posted by CAPIS on 01/21/2021 at 7:25 am

by CAPIS

01/21/2021 at 7:25 am

Covid-19 Statistics: 

Total Cases 24,109,760 from 23,923,938

Deaths 396,837 from 392,428

New Tests 1,788,698 from 1,698,121

New Cases 185,822 from 144,047 with positivity rate of 10.3% (up 1.9)

Daily Deaths 4,409

Current Hospitalizations 122,700 from 123,820

Capital Raises:

IPOs Priced: Dream Finders Homes (DFH) prices 9.6 million shares IPO priced at $13 in line with range of $12 to $15. Trinity Capital (TRIN) begins IPO finalization process with a range of $13.50 to $15.50.

Secondaries Priced: OCX ATHA CMRX DYN ORC CTMX INO EDIT CYRX CDNA  of note.

Notes Priced of note:  None of note.

Common Stock filings:  NVTA DCBO ORC SI INO ONCS RFL UK   of note.

Selling Shareholders of note:  UBER of note.

Mixed Shelf Offerings: AQB AWH  of note.

Convertible Offering Files:  VNET BSY  of note.

Earnings Out After The Close Of Note:

Beats: DFS +0.29, HWC +0.27, WTFC +0.22, UMPQ +0.20, AA +0.19, PLXS +0.13, KMI +0.03, STL +0.03

Flat:  none

Misses: UAL (0.58)

News After The Close:

Oakwood Acquisition Corp (OAC) which is a SPAC has bought Him & Hers Health and will trade under HIMS this morning.

Qiagen (QGEN) notes that their test works on new strains of Covid-19.

Illumina (ILMN) favorable patent suits against BGI in U.K.

FTAC Olympus Aquisition (FTOC) in talks to buy Payoneer. (Bloomberg)

Boeing (BA) wins $2.1 billion Air Force contract.

United Airlines (UAL) calls 2021 a transition year for a recovery year in 2021.

Pfizer (PFE) reaches vaccine deal in Japan.

President Biden signs 17 Executive Orders including the cancellation of Keystone pipeline permit, mask mandate in federal buildings, reenters Paris Climate Accord and defers student loan payments.

Dividend Increases: FBC

Split Announcement: 

Raises Guidance: KMI PLXS

Lowers Guidance: UAL

Stock Buyback New Or Increase: MTB

Insider Buys:

Erlanger Valuelines Action– Each day Erlanger Research through its Chart Room track resistance, pivot and support levels. HFT and Algo firms use these levels to trade and much can be learned from following the valuelines. Blue highlighting indicates above average volatility. 1/20/21

Hourly Action– We track the hour by hour action on the S&P 500, Russell 2000 and Dow Jones Industrial Average. The best hour so far this week is 12:00 to 1:00 p.m. and the worst hours are 9:30 to 10:00 a.m. and 11:00 -12:00 p.m. Updated 1/20 Close

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +18   Dow Jones Industrial Average +32   NASDAQ +120    Russell 2000 +6. Fair values are lower. Asia higher ex Shanghai and Europe higher ex France. VIX is at 24.77 from 24.95 this morning in futures. VIX closed at 21.58  from 23.24 and the three month futures at 25.72 from 27.26.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $136.94 from $136.83 with the yield at 1.116% from 1.10% no change.

Positive Sectors On Wednesday:  Communication Services, Real Estate and Consumer Cyclical.

Negative Sectors On Wednesday:  None 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: Energy, Materials, Healthcare and Financials of note.

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

Today After the Close: INTC, IBM, ISRG, CSX, PPG, SIVB, STX, WAL, PBCT, FFIN, OZK of note.

Friday Before the Open: SLB, EDU, KSU, RF, HBAN, ALLY, FHN, FHB, BLMN of note.

Earnings This Morning Of Note:

Beats: TRV +1.76, MTB +0.48, FBC +0.47, SBNY +0.36, WBS +0.25, TFC +0.22, WNS +0.19, BKU +0.19, BANC +0.16, SASR +0.14, KEY +0.13, UNP +0.12, FITB +0.10

Flat: none

Misses: NTRS (0.37), BKR (0.23), TAL (0.06)

Still to Report: HOMB

Erlanger Research Advance/Decline Chart –  Updated 1/20 Close. 

Gap Ups & Down In Early Pre-Market:

Gap up:

OCX +12%, OSUR +7%, LCTX +7%, APT +5%, BLD +4%, GLPG +4%

Gap down:

AWH -8%, CTMX -6%, INO -5%, VNET -5%

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

5 Things To Know Before The Open – (CNBC)

Stocks Making The Biggest Moves – MS NFLX  (CNBC)

Covid Update –  U.S To Join WHO. (CNBC)

There may not be the votes for the $1.9 trillion stimulus which will need 60 votes to pass. (Bloomberg)

President Biden to sign another 10 Executive Orders today. (CNBC)

Democrats reject Senate Minority Leader McConnell request to protect filibuster, Democrats will not eliminate. (Politico)

Dr. Fauci notes this morning that Johnson & Johnson (JNJ) will be out with its vaccine in next few weeks. (CNBC)

Hong Kong will approval Pfizer (PFE) vaccine. (South China Morning Press)

China Unicom (CHU) requests review of NYSE determination to delist ADSs.

China doubled construction of new wind and solar plants. (Reuters)

Stock Index Trading:

Current through 1/20 close. Overall confidence moves back to 100%.

Bold means a change from prior day.

Geopolitical:

 The President, The First Lady, The Vice President, and The Second Gentleman watch the Virtual Presidential Inaugural Prayer Service 10:00 a.m. EST Blue Room

The President and The Vice President receive the President’s Daily Brief 12:45 p.m. EST Oval Office

The President delivers remarks on his administration’s COVID-19 response, and signs executive orders and other presidential actions; The Vice President also attends.  State Dining Room 2:00 p.m. EST

The President and The Vice President receive a briefing from members of their COVID-19 team State Dining Room 2:25 p.m. EST

Press Briefing by Press Secretary Jen Psaki, 4:00 p.m. EST

The European Central Bank (ECB) was out with its latest release, no change. Easing remains front and center.

Economic:

Weekly Jobless Claims are due out at 8:30 a.m. EST. The estimate is 845,000 and was higher last week at 965,000.

December Housing Starts are due out at 8:30 a.m. EST and is expected to rise to 1,575,000 from 1,547,000.

January Philadelphia Federal Reserve Index is due out at 8:30 a.m. EST and is expected to rise to 12 from 8.5.

Investor Meetings & Conferences of Note:

AEO VRNT (Investor Event)  TENX (Conference Call) TSK INMD (Webinar) NFE (Update)

Sellside: UBS Greater China Conference (1/18-1/22)  B.Riley  Oncology Conference (1/20-1/21) Jefferies China Auto & Industrial Access Day (1/21) CIBC Western Conference (1/21)

Industry Conferences:

M&A Activity:

Upgrades & Downgrades of Note This Morning: Note that downgrades are increasing first two weeks of the year. 

Wednesday Recommendations

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.