Interesting Fact: The S&P 500 has stalled out after any four day rallies since 8/28 that concluded a six day rally. If up today, then this will be the fourth up day in a row.
Total Cases 26,331,722 from 26,052,734
Deaths 440,922 from 437,237
New Tests 1,442,998 from 1,375,084
New Cases 116,960 from 115,619 with positivity rate of 8.1% (down 0.3)
Daily Deaths 3,685
Current Hospitalizations 91,440 from 92,880
IPOs Priced or News: Landos Biopharma (LABP) priced at $16 which is mid range of expected pricing of $15 to $16. Sensei Biotherapeutics (SNSE) priced at $19 above range of $16 to $18. Sana Biotechnology priced at $25 above expected range of $23 to $24.
Secondaries Priced: ATC ALB KLDO CURI RVMD of note.
Notes Priced of note: None of note.
Common Stock filings: RYTM HYRE AWH ISR IEA AQB DRRX KLDO QMCO QTRX VCYT of note.
Selling Shareholders of note: ORMP BTRS of note.
Mixed Shelf Offerings: IMMR OEG VCYT PKOH PHUN of note.
Convertible Offering Files: PEB MMYT of note.
Summary From The Trade Exchange bringing traders and investors real time news and Squawk Box.
Earnings Out After The Close Of Note:
Beats: IAC +5.93, UHAL +2.25, ALL +2.04, QRVO +1.37, ALGT +1.22, SU +1.01, AFG +1.01, THG +0.65, MET +0.52, ALGN +0.47, PLUS +0.46, ASH +0.37, HI +0.29, CCMP +0.19, MAA +0.19, EZPW +0.18, NTGR +0.15, SIMO +0.15, TBI +0.15, QNST +0.15, ECHO +0.12, CSGS +0.12, TTMI +0.12, KLIC +0.11, DGII +0.10, CTVA +0.09, YUMC +0.09, PYPL +0.08, UGI +0.08, QCOM +0.07, IEX +0.06, CSII +0.06, FORM +0.06, SITM +0.06, RGLD +0.05, INOV +0.05, VVV +0.05, MXL +0.04, MDU +0.04, ADTN +0.04, KLAC +0.03, AFL +0.03, CHNG +0.03, EBAY +0.03, APPS +0.03, RYN +0.03, AVTR +0.03, ENSG +0.02, MWA +0.02, TSE +0.01
Flat: LCI +0.00
Misses: GRUB (0.45), CTSH (0.23), LNC (0.13), AVB (0.07), ANGI (0.05), ELF (0.02), MUSA (0.01)
News After The Close:
Charter Communication (CHTR) COO John Bickham to retire at the end of year.
Costco (COST) sees January sales up +15.9% versus December’s +10.7%.
Raises Guidance: QRVO EBAY MXL ELF
Lowers Guidance: CSII AFG
Stock Buyback New Or Increase: CB
Insider Buys: PDLI APEN (source The Trade Exchange)
Hourly Action – Updated 2/3 close. Indexes struggled 2:00 onward last week.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Quick comment -Futures are strong this morning making it the fourth up day in a row.
S&P 500 +10 Dow Jones Industrial Average +73 NASDAQ +62 Russell 2000 +6. Fair values are lower. Asia lower and Europe mixed. VIX is at 25.18 this morning in futures. VIX closed at and the three month futures at .
Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $136.70 from $136.89 with the yield at 1.14% from 1.13%.
Positive Sectors On Wednesday: Energy and Communication Services .
Negative Sectors On Wednesday: Real Estate and Healthcare 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: TMUS, GILD, SNAP, ATVI, PTON, PINS, F, U, MCHP, PRU, MSI, MTD, FTNT, FTV, FLT, HIG of note.
Friday Before the Open: SNY, EL, ITW, REGN, AON, TT, ZBH, UI, CAH, CBOE of note.
Earnings This Morning Of Note:
Beats: BDX +1.39, WD +1.12, MDP +1.07, CG +1.00, SNA +0.89, PH +0.86, CMI +0.60, AGCO +0.42, VSTO +0.37, JHG +0.29, CLX +0.28, ABC +0.24, DGX +0.24, GOOS +0.21, LEA +0.21, VSAT +0.20, TPR +0.15, MSGN +0.14, YUM +0.14, MMS +0.12, WMS +0.11, LSPD +0.10, SR +0.10, BEP +0.09, ABB +0.07, HSY +0.06, PTEN +0.05, BCE +0.05, AME +0.05, LANC +0.05, ICE +0.05, NYT +0.04, BAX +0.04, PBH +0.04, BMY +0.04, ODFL +0.04, NS +0.04, BV +0.04, SBH +0.03, WEC +0.03, BLL +0.03, COR +0.03
Flat: HIMX +0.00, TW +0.00, NJR +0.00
Misses: CI (0.18), GPI (0.13), PENN (0.11), TKR (0.09), MRK (0.07), APD (0.07), IP (0.06), RDS.A (0.03)
Still to Report: ALXN, ARW, CMS, MPW, BTU, PM, RL, XYL
Erlanger Research Advance/Decline Chart – Updated 2/3 Close. Definite improvement this week.
Gap Ups & Down In Early Pre-Market:
AVXL +68%, APPS +17%, ALGN +10%, EBAY +10%, MWA +9%, SIMO +8%, QNST +8%, HI +7%, MXL +7%, PME +7%, CDXC +7%, SU +6%, HIMX +6%, KLIC +5%, VSTO +5%, INOV +5%, PYPL +5%, ECHO +5%, MET +4%, TBI +4%
DRRX -13%, LCI -13%, ISR -13%, HYRE -12%, ANGI -10%, KLDO -10%, IEA -10%, AWH -9%, AQB -8%, AGLE -7%, QCOM -7%, QRVO -6%, NTGR -6%, ALB -5%, COR -5%, NOK -4%, CTSH -4%, UL -4%, CURI -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know Before The Open – (CNBC)
CDC Director Rochelle Walensky says that vaccinating teachers should not be a prerequisite to open schools. (Bloomberg)
Senvest Mgmt made $700 million on Gamestop (GME), profiled. (WSJ)
Bayer (BAYRY) agrees to $2 billion liability for Roundup claims of cancer. (WSJ)
McKinsey to settlement of $673 million to settle advice given over opiods. (WSJ)
Commerce Secretary Gina Raimondo to continue Huawei restrictions. (Bloomberg)
EU and UK to look at Nvidia (NVDA) purchase of Arm Holdings (ARMH). (FT)
Stock Index Trading:
Current through 2/3 close. Overall confidence moves from 60% to 96%.
Bold means a change from prior day.
The President and The Vice President receive the President’s Daily Brief, Oval Office, 9:30 a.m. EST
Press Briefing by Press Secretary Jen Psaki, 11:30 a.m. EST
The President and The Vice President speak with State Department staff, 1:30 p.m. EST
The President and The Vice President meet with the Secretary of State, 2:00 p.m. EST
The President delivers remarks; The Vice President also attends. 2:45 p.m. EST
Bank of England (BOE) was out with its latest decision.
Federal Reserve Dallas President Robert Kaplan speaks at 1:00 p.m. EST.
Federal Reserve San Francisco Mary Daley speaks at 2:00 p.m. EST.
Weekly Jobless Claims due out at 8:30 a.m. EST. Came in at 779,000 against 830,000 estimates.
December Factory Orders is due out at 10:00 a.m. EST and is expected to fall to 0.7% from 1.0%.
December New Home Sales is due out 10:00 a.m. EST and is expected to improve to 860,000 from 841,000.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EST.
Investor, Sellside and Industry Meetings
RVXCF TXN (Webinar) JWN (Investor Event) TSK (Update)
Industry Conferences: Annual LSX World Congress (2/1-2/5) Semicon Korea (2/2-2/5)
Upgrades & Downgrades of Note This Morning: Note that downgrades remain prevalent in February.