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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 – 1/22/21: Second Friday In A Row Stocks Are Selling Off"

posted by CAPIS on 01/22/2021 at 7:23 am

by CAPIS

01/22/2021 at 7:23 am

Covid-19 Statistics: 

Total Cases 24,295,524 from 24,109,760

Deaths 400,726 from 396,837

New Tests 1,919,138 from 1,788,698

New Cases 184,864 from 185,822 with positivity rate of 9.6% (down 0.6)

Daily Deaths 3,889

Current Hospitalizations 119,927 from 122,700

Capital Raises:

IPOs Priced: Passage BIO (PASG) prices 7 million shares at $22. Trinity Capital (TRIN) begins IPO finalization process with a range of $13.50 to $15.50.

Secondaries Priced: NVTA SI AZEK CRSR SENS  of note.

Notes Priced of note:  BSY  of note.

Common Stock filings: PGEN GSL ARKO SENS DCBO VUZI of note.

Selling Shareholders of note: ARKO of note.

Mixed Shelf Offerings: GLP of note.

Convertible Offering Files: None of note.

Chart of The Day: Gamestop (GME) came up on our conference call yesterday. Here is out chart.

Earnings Out After The Close Of Note:

Beats: SIVB +3.57, WAL +0.59, ISRG +0.48, INTC +0.41, NBHC +0.27, IBM +0.19, STX +0.16, OZK +0.15, ASB +0.09, CSX +0.03, PBCT +0.03, PPG +0.01

Flat:  TCBI +0.00, WABC +0.00

Misses: none

News After The Close:

Associated Bank (ASB) CEO to retire at end of this year.

Sierra Wireless (SWIR) CEO to retire as well.

House permits General Lloyd Austin to become the first black Secretary of Defense.

Northrop Grumman (NOC) wins $3.6 billion Air Force Contract.

Ford Motor (F) to replace Takata airbag inflators in 2.7 million vehicles at cost of $610 million.

Dr. Fauci sees Covid-19 cases on a plateau currently.

Dividend Increases: NBHC ED 

Split Announcement: 

Raises Guidance: INTC SWIR

Lowers Guidance: BJRI

Stock Buyback New Or Increase: 

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. 1/21/21

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 -23   Dow Jones Industrial Average -202   NASDAQ -74   Russell 2000 -15. Fair values are lower. Asia and Europe lower. VIX is at 25.55 from 24.77 this morning in futures. VIX closed at 21.32  from 21.58  and the three month futures at 25.70 from 25.72.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is flat vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $137.00 from $136.94 with the yield at 1.091% from 1.116%.

Positive Sectors On Thursday:  Technology, Communication Services and Consumer Cyclical.

Negative Sectors On Thursday:  Energy, Materials and Industrials 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: none of note.

Monday Before the Open: PHG, KMB, OTIS, CBU, BOH, CASE of note.

Earnings This Morning Of Note:

Beats: ALLY +0.54, RF +0.19, FHN +0.12, EDU +0.10, SLB +0.05, FHB +0.04

Flat: none

Misses: HBAN (0.02)

Still to Report: KSU

Erlanger Research Advance/Decline Chart –  Updated 1/21 Close. 

Gap Ups & Down In Early Pre-Market:

Gap up:

ADMP +76%, FLDM +17%, XGN +8%, SWIR +8%, SIVB +4%

Gap down:

GSL -15%, SENS -15%, PGEN -9%, IBM -8%, IMMP -7%, ACB -5%, VRAY -5%, SI -5%, INTC -4%, PPG -4%, WDC -4%

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 – IBM SWIR ISRG  (CNBC)

Biggest Analyst Calls of The Day – NIO WMT MSFT F (CNBC)

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

New strains of Covid may be less receptive to existing vaccines notes Dr. Fauci. (Barron’s)

Senate Minority Leader McConnell wants to delay impeachment trial of former President Trump to mid February. (NYT)

President Biden signs more Executive Orders on food stamps, minimum wage for Federal workers of $15 with briefing at 12:30 p.m. EST today. (NBC News)

Pressure of President Biden to lower the $1.9 Stimulus Bill. (CNBC)

Lots of rumors out there on whether Summer Olympics in Japan are about to be cancelled again. (FT)

Intel (INTC) earnings release was hacked which caused a pop in the stock. (FT)

Intel (INTC) will outsource more production. (WSJ)

Bitcoin broke $30,000 but now back above, down 12% for the week. (CNBC)

Google (GOOGL) may shut down search in Australia. (WSJ)

Stock Index Trading:

Current through 1/21 close. Overall confidence moves from 100% to 97%.

Bold means a change from prior day.

Geopolitical:

The President and The Vice President receive the President’s Daily Brief 9:30 a.m. EST Oval Office.

The President has lunch with The Vice President 12:00 p.m. EST Private Dining Room.

Press Briefing by Press Secretary Jen Psaki and National Economic Council Director Brian Deese 12:30 p.m. EST James S. Brady Press Briefing Room.

The President and The Vice President receive a briefing on the state of the economic recovery 2:00 p.m. EST State Dining Room.

The President delivers remarks on his administration’s response to the economic crisis and signs executive orders; The Vice President also attends 2:45 p.m. EST State Dining Room.

Economic:

December Existing Home Sales are due out at 10:00 a.m. EST and is expected to fall to 6,500,000 from 6,690,000.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EST.

Weekly Crude Oil Inventories are due out at 11:00 a.m. EST.

Investor Meetings & Conferences of Note:

 HPE (Fireside Chat with Oppenheimer)   

Sellside: UBS Greater China Conference (1/18-1/22)  BTIG Early Cancer Screening, Diagnostics, Reimbursement and Genomics Tools Day (1/22)

Industry Conferences:

M&A Activity:

Verra Mobility (VRRM) to buy Redflex for $146.1 million.

Upgrades & Downgrades of Note This Morning: Note that downgrades are increasing first two weeks of the year. Truis upgrades several storage stocks and Goldman goes long monster cap software names.

Thursday Recommendations

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