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"CAPIS Morning Note – 3/12/21: Volatile Week Concludes"

posted by CAPIS on 03/12/2021 at 8:06 am

by CAPIS

03/12/2021 at 8:06 am

Breaking News:

Earnings Out After The Close Of Note:

Beats: MTN +1.22, ULTA +1.04, DOCU +0.24, CMTL +0.12, DOMO +0.11, POSH +0.06, ZUMZ +0.05, MSP +0.05, ZUO +0.03, GDRX +0.02, LOCO +0.01

Flat: MVIS +0.00

Misses: CHPT (5.22), NUVB (0.12), MAX (0.11), STNE (0.03), WPM (0.01)

 Capital Raises:

IPOs Priced or News: Prometheus Biosciencecs (RXDX) priced at $19 at high end of range. Hayward Holdings (HAYW) priced at $17 as low end of range. JOANN (JOAN) priced at $12 well below range of $15 to $17.

New SPACs launched: Colonnade Acquisition (CLA) to combine with Ouster and new symbol today is OUST.

Secondaries Priced: FNHC AMMO MRKR  of note.

Notes Priced of note:  OSH IVC BAND of note.

Common Stock filings: MRKR POWW MANU  0f note.

Selling Shareholders of note: None  of note.

Mixed Shelf Offerings:  None of note.

Convertible Offering & Notes Filed:  None of note.

Capital Raise Summary From The Trade Exchange ,bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close:

Novavax (NVAX) is efficient against variant strains of Covid-19 from U.K. and South Africa.

Ulta Beauty (ULTA) banes Dave Kimbell as CEO replacing Mary Dillon.

NXPI Semiconductor (NXPI) will see $100 million hit to revenues as Austin facility down to weather in February.

Perspecta (PRSP) wins $201 million award from Defense Information Systems.

Lockheed Martin (LMT) wins $1.5 billion Navy contract.

Dividend Raises: MCFE COLD WPC CL AMAT LB( reinstates)

Split Announcement: 

Raises Guidance:

Lowers Guidance DOMO POSH ULTA

Buyback Announcements: CACI PVBC 

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

S&P 500 -15 Dow Jones Industrial Average +54 NASDAQ -196  Russell 2000 +6. Fair values are mixed. Asia and Europe mixed. VIX is at 23 from 23.60 this morning in futures. VIX closed at 21.91 from 24.03  and the three month futures at 26.09 from 27.28.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132.06 from $132.92with the yield at 1.597% from 1.497%.  Bitcoin $55,692.30 @ $1616.59 -2.82%

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

Negative Sectors On Thursday: None of note.

One Month Winners: Energy, Financials and Communication Services of note.

Three Month Winners: Materials, Industrials and Financials of note.

Six Month Winners: Energy, Financials and Materials of note.

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

Year to Date: Energy, Communication Services, Financials 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.

Monday Before the Open: none of note.

 Earnings This Morning Of Note:

 Beats: BKE +0.20

Flat: none

Misses: none

Still to Report: none

Erlanger Research Advance/Decline Chart/Table –Updated through 3/11. Breadth is improving off its recent lows.

 

Gap Ups & Down In Early Pre-Market:

Gap up:

NVAX +19%, ALT +16%, CFRX +12%, MTN +11%, CCRC +8%, FNKO +8%, DOMO +6%, TBIO +5%, GOEV +4%, MVIS +4%, TLYS +4%

Gap down:

MRKR -25%, POWW -15%, POSH -13%, SLGG -11%, ULTA -9%, SIEN -9%, STNE -8%, XONE -8%, FNHC -7%, CHPT -7%, CMTL -7%, DOCU -5%, MANU -4%, ZUMZ -4%, GDRX -4%

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

Stocks Making The Biggest Moves ULTA POSH NVAX DOCU BABA NFLX MTN   (CNBC)

Biggest Analyst Calls CNBC PRO: XOM TMUS DENN AAPL. (CNBC)

President Biden speech last night sumamrized. Big point is that wants all adults eligible for vaccination by 5/1. (CNBC)

Democrats at odds over infrastructure as to whether to use budget reconciliation or get 60 votes to pass. (The Washington Post)

Portland on fire against as protestors back in the street. (CBS News)

Biden Administration puts new limits on Huawei suppliers. (Bloomberg)

Chip shortage hits Qualcomm (QCOM) and affects its customers like Samsung. (Reuter)

Index Results

Current through 3/11 close. Overall confidence moves to 97% from 94%.

Bold means a change from prior day.

3/11 results.

Geopolitical:

The President and The Vice President meet virtually with their counterparts in the Quad: Prime Minister Narendra Modi of India, Prime Minister Scott Morrison of Australia, and Prime Minister Yoshihide Suga of Japan, State Dining Room, 8:30 a.m. EST

The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:30 a.m. EST

Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 11:15 a.m. EST

Press Briefing by Press Secretary Jen Psaki and National Security Advisor Jake Sullivan, James S. Brady Press Briefing Room, 12:00 p.m. EST

The President has lunch with The Vice President, Private Dining Room, 12:30 p.m. EST

The President and The Vice President deliver remarks on the American Rescue Plan; Members of Congress also attend, Rose Garden, 2:30 p.m. EST

The President and The First Lady depart the White House en route Wilmington, Delaware, South Lawn, 3:40 p.m. EST

The President and The First Lady arrive in Wilmington, Delaware, Biden Residence, Wilmington, DE, 4:35 p.m. EST

Economic:

February PPI is due out at 8:30 a.m. EST and expected to fall to 0.5% from 1.3%.

March University of Michigan Consumer Sentiment (Preliminary) is due out at 10:00 a.m. EST and is expected to rise to 80 from 76.8.

Meetings, Sellside Conferences and Industry Conferences

T  (Investor Meetings) GDP (Webcast)  BSY CFRX (Conference Call) CASI (Update)

Sellside Conferences:  Gabelli & Co Specialty Chemicals Conference (3/11-12) Loop Capital Consumer, Industrial, and TMT Investor Conference (3/11-12) Guggenheim Healthcare Talks (3/12)

Industry Conferences: International Conference on Alzheimer’s & Parkinson’s Diseases (3/9-14)

M&A Activity

Lightspeed (LSPD) to buy Vend for $350 million.

Upgrades & Downgrades From Sellside Firms – For Up has to be a Buy. For a Down has to be a Sell or Underweight.

Today’s Recommendations:

Thursday 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.