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Morning Note

"CAPIS Morning Note – 4/21/21: Stocks Lower Again, Three Day Losing Streak"

posted by CAPIS on 04/21/2021 at 7:04 am

by CAPIS

04/21/2021 at 7:04 am

Breaking News: 

Earnings Of Note After The Close:

Beats: ISRG +0.86, NFLX +0.81, THC +0.61, HWC +0.25, WRB +0.24, IBKR +0.23, UCBI +0.19, FULT +0.09, EW +0.06, LRN +0.03

Flat: FMBI +0.00

Misses: CSX (0.05)

Capital Raises:

IPOs Priced or News: UiPath (PATH) priced at $56 per share.

New SPACs launched:

Secondaries Priced: ZLAB FUTU of note.

Notes Priced of note:  None of note.

Common Stock filings:  CMCO 0f note.

Selling Shareholders of note: None of note.

Private Placement of Public Entity (PIPE): 

Mixed Shelf Offerings:  WHR CPSH TRVG AXON BRG   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:

Lead Story After The Close: Derek Chauvin found guilty on all charges in George Floyd Trial.

Netflix (NFLX) missed on subscriber adds with 3.98 million versus guidance of 6 million.

Marvel (MRVL) complete purchase of Inphi (IPHI).

GOP Senators want to use money from PPP that was not spent for infrastructure.

Facebook (FB) trying to “normalize” large scale scraping of user data from social networks is common. (Vice)

Northrop Grumman (NOC) wins $2.3 billion Air Force contract.

Boeing (BA) wins a $440 million Army contract.

Index Changes: 

Dividend Raises: WES PFC LAD 

Split Announcement: 

Raises Guidance: ASML 

Lowers Guidance: 

Buyback Announcements: LDL

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

S&P 500 -7 Dow Jones Industrial Average -35 NASDAQ  -56 Russell 2000 +4 Fair values are mixed. Asia lower and Europe mixed. VIX is at 21.25 from 20.93 this morning in futures. VIX closed at 18.68 from 17.29 and the three month futures is at 21.37.

Gold, silver  and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.45 from $132.28 with the yield at 1.564% from 1.592%.  Bitcoin $55,279 from Tuesday’s $57,100 but this morning at $-1204.10 and -2.13% from yesterday.

Monday’s Action – 4/20.  All  equity asset classes were lower and Treasuries sold off as did Gold.

Positive Sectors On Tuesday: Utilities, Real Estate and Consumer Defensive.

Negative Sectors On Tuesday:  Energy, Financials and Consumer Cyclicals.

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: LRCX, CCI, CP, LVS, CMG, KMI, DFS, EFX, XM, WHR, FNF, GGG, GL, RHI of note.

Thursday Before the Open: T, DHR, SAP, UNP, BX, HCA, FCX, DOW, AEP, BIIB, IQV, LUV, TAL, DHI, VLO, ODFL, NUE, TSCO of note.

Earnings This Morning Of Note:

Beats: NEP +2.33, LAD +1.16, ASML +0.62, ANTM +0.57, SBNY +0.43, NDAQ +0.33, FCFS +0.17, FHN +0.13, RCI +0.10, NEE +0.09, TEL +0.09, HCSG +0.06, VZ +.03, HAL +0.02, BKR +0.01

Flat:  none

Misses: ERIC (0.06)

Still to Report: BOKF, KNX, NVR

Insider Purchases: Below is the list of insider buys from yesterday and this morning. No shorts present today in where insider buying took place. Insider Action From The TradeXchange and Short Data From Erlanger Research. Update 4/20.

Erlanger Research Advance/Decline Chart/Table –Updated through 4/20.  

Gap Ups & Down In Early Pre-Market:

Gap up: KIN +5%, ISRG +5%, LAD +4%, EW +4%, ASML +4%, HWC +4%

Gap down: NOTV -16%, NFLX -8%

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

Stocks making the biggest moves NFLX ISRG VZ WBT  ANTM : (CNBC)

President Biden to propose temporary extension for the child tax credit. (WSJ)

Chinese President Xi to speak at a U.S.  led Summit on Climate Change.

Facebook (FB) warns that Apple (AAPL) Ad Changes impact developers.

Apple (AAPL) and Google (GOOGL) to the Hill to testify on app store competition issues at 2:30. (Bloomberg)

Transportation Department’s inspector general to look at ungrounding related to Boeing (BA) (Reuters)

Index Moving Averages: All indexes are now above their moving averages. 4/20 Close

4/19 results.

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 9:50 a.m. EDT

Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 12:15 p.m. EDT

The President delivers remarks on the COVID-19 response and the state of vaccinations, South Court Auditorium, 1:15 p.m. EDT

$24 billion 20 Year Treasury Bond Auction at 1:00 p.m. EDT.

Apple (AAPL) and Google (GOOGL) to the Hill to testify on app store competition issues at 2:30. (Bloomberg)

Economic:

Weekly Mortgage Applications were out at 7:00 a.m. EDT and rose 8.6%.

Weekly Crude Oil Inventories are out at 10:30 a.m. EDT.

Meetings & Conferences of Note

MGM EVGN (Investor Meeting)  EVGN (Analyst Meeting) HPE IRCP  (Webcast)  

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity

Upgrades & Downgrades of Note From Sellside Firms:

Tuesday 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.