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"CAPIS Morning Note – 3/19/21: Futures Trying To Find A Bottom And Move Forward"

posted by CAPIS on 03/19/2021 at 8:10 am

by CAPIS

03/19/2021 at 8:10 am

Breaking News: Federal Reserve end the SLR (Supplemental Leverage Ratio for the major banks)

New Feature: We are now overlaying Insider Buys with Short Seller Batting Averages. Idea is simple – Insider Buying mixed with a bad short seller equals higher stock price down the road as short covers.

Earnings Out After The Close Of Note:

Beats: FDX +0.22, NKE +0.15, OLLI +0.12

Flat: None

Misses: None

Capital Raises:

IPOs Priced or News: Instil Bio (TIL) priced at $20 at high end of range $19 to $20. Connect Biopharma (CNTB) priced at $17 at high end of range $15 to $17.

New SPACs launched: Horizon Acquistion Corp looks to buy Vivid Seats. (Bloomberg)

Secondaries Priced: EXR STEP ARRY SLDB ROAD SKLZ MAX  of note.

Notes Priced of note:  TEX of note.

Common Stock filings: AGRX EXR ROAD VTVT WIMI NBEV 0f note.

Selling Shareholders of note: BALY  of note.

Mixed Shelf Offerings: TRIL BALY BSQR SONM of note.

Convertible Offering & Notes Filed:  None of note.

Note Offerings Filed:  None of note.

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

News After The Close:

Fox Corp. (FOX) expands deal with NFL as does Amazon (AMZN) that picks up Thursday Night Football. (CNBC)

House votes to create a path to citizenship for 2.5 million undocumented workers.

Dividend Raises: MED SCVL UDR  INDB GPMT

Split Announcement: 

Raises Guidance: 

Lowers Guidance: 

Buyback Announcements: COWN VBTX 

Insider Purchases: Below is the list of insider buys from yesterday. We note no names have moderate or heavy short selling. Insider Action From The TradeXchange and Short Date From Erlanger Research.

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

S&P 500 +9 Dow Jones Industrial Average +46 NASDAQ  +69 Russell 2000 +11. Fair values are mixed. Asia and Europe lower. VIX is at 23.75 from 23.45 this morning in futures. VIX closed at 21.58 from 19.23 and the three month futures at 25.28 from 23.88.

Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $131.50 from $131.31 with the yield at 1.707% from 1.74%.  Bitcoin $58,609.46 @ $850.10 1.47%.

Positive Sectors On Thursday: None.

Negative Sectors On Thursday: Technology, Energy and Communication Services 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:

Erlanger Research Advance/Decline Chart/Table –Updated through 3/18. Yesterday saw weakness.

 

Gap Ups & Down In Early Pre-Market:

Gap up:

KNSA +7%, NCTY +7%, MED +6%, TRIL +5%, ALTG +5%, LLNW +5%, SRPT +5%, GPMT +5%, MP +5%, LAZR +4%, FDX +4%

Gap down:

IDRA -57%, SKLZ -7%, VTVT -6%, ROAD -5%

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

Stocks Making The Biggest Moves – SIG DG    (CNBC)

Biggest Analyst Calls CNBC PRO: FIVE BAC CCL. (CNBC)

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

U.S. and China met in Alaska and failed to accomplish anything of note. (Bloomberg)

AMC Entertainment (AMC) will open 98% of theaters this weekend. (NY Post)

Johnson & Johnson (JNJ) is testing its Covid-19 vaccine on variants of the disease. (WSJ)

Chubb (CB) is exploring a purchase of Hartford Financial (HIG).

The Bank of Russia raises rates to 4.50% from 4.25%.

Dr. Scott Gottlieb notes that masks may come off around Fourth of July. (CNBC)

Aecom (ACM) wins Air Force contract worth $2 billion.

Chinese Military bans Tesla (TSLA) car sales over data collection from cameras.

Index Results

Current through 3/18 close. Overall confidence moves from 97% to 67%.

Bold means a change from prior day.

3/16 results.

Geopolitical:

The President receives the President’s Daily Brief, The White House, 10:00 a.m. EST

The President departs the White House en route Joint Base Andrews, South Lawn, 10:45 a.m. EST

Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 12:30 p.m. EST

The President and The Vice President visit the Centers for Disease Control and Prevention, Centers for Disease Control, Atlanta, GA, 2:15 p.m. EST

The President and The Vice President meet with Georgia Asian American leaders, Emory University, Atlanta, GA, 3:35 p.m. EST

The President delivers remarks; The Vice President also attends, Emory University, Atlanta, GA, 4:40 p.m. EST

The President departs Atlanta, Georgia en route DeKalb-Peachtree Airport, Atlanta, Georgia, 7:10 p.m. EST

The President departs Joint Base Andrews en route Camp David, Joint Base Andrews, 9:45 p.m. EST

Economic:

Baker Hughes Rig Count out at 1:00 p.m. EDT.

Meetings, Sellside Conferences and Industry Conferences

UEIC  (Investor Meetings) RHHBY (Presenting Data)

Sellside Conferences: Maxim Emerging Growth Conference (3/17-19) Citi Retail Madness Conference (3/18-19) JP Morgan Auto Conference (3/18-19)

Industry Conferences: SEMICON China (3/17-19) Anxiety and Depression Association of America Conference (3/18-19).

M&A Activity

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.