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Morning Note

"CAPIS Morning Note – 4/27/21: FOMC Starts Two Day Meeting"

posted by CAPIS on 04/27/2021 at 7:03 am

by CAPIS

04/27/2021 at 7:03 am

Quick Note: Most links have been taken out today to see if our delivery time is improved. We will keep you posted on this development.

Earnings Of Note After The Close:

Beats: OMF +1.30, WIRE +1.11, AMP +0.78, SBAC +0.52, MKSI +0.36, TNET +0.36, TBI +0.32, SSD +0.30, PKG +0.29, TSLA +0.20, JJSF +0.19, UHS +0.18, CATY +0.15, LXFR +0.14, BRO +0.14, PCH +0.14, AGNC +0.13, JBT +0.12, SUI +0.11, CDNS +0.09, HTLF +0.09, AXTA +0.08, HSTM +0.08, SSNC +0.08, WRI +0.07, ARE +0.07, MEDP +0.07, IBTX +0.05, MASI +0.03, AMKR +0.03, RRC +0.03

Flat:  None

Misses: NXPI (0.96), CNI (0.03)

Capital Raises:

IPOs Priced or News:

New SPACs launched:

Secondaries Priced: GME of note.

Notes Priced of note: None of note.

Common Stock filings: HYFM EARN RNWK 0f note.

Selling Shareholders of note:  PQG EARN of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: GD SUNS of note.

Convertible Offering & Notes Filed: SNAP 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:

Lyft (LYFT) to sell self-driving car division to Toyota Motor (TM).

Gamestop (GME) completes at the market equity offering.

Rambus (RMBS) and Lattice Semiconductor (LSCC) to partner on next generation security solutions.

Encor Wire (WIRE) reports that average selling price of wire per copper pound up 46.8% year over year.

Hasbro (HAS) sells eOne Music for $385 million in cash.

After hour movers of note: BRO +10% WIRE +8% SBAC +5% TBI +4% and -11% AXTA AMP -10% CDNS -4%

Index Changes:

Dividend Raises: AMP

Split Announcement:

Raises Guidance: SBAC MASI CNI SSNC AXTA MKSI

Lowers Guidance:

Buyback Announcements: PHM

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 +9 Dow Jones Industrial Average +24 NASDAQ  +27 Russell 2000 +19  Fair values are mixed. Asia mixed and Europe lower. VIX is at 20.11 from 20.88 this morning in futures. VIX closed at 18.71 from 17.50 and the three month futures is at 22.52 from 21.49.

Gold, silver  and copper higher. 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 $132.28 from $132.63 with the yield at 1.58% from 1.549%.  Bitcoin $55,032 and this morning at $1047 and 1.94% from yesterday.

Monday’s Action – 4/26.  All  equity indexes were lower.

Positive Sectors On Monday: Materials, Technology and Energy.

Negative Sectors On Monday:  Consumer Defensive, Utilities and Industrials.

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: MSFT, GOOG, V, TXN, AMGN, SBUX, AMD, SYK, MDLZ, CB, COF, ILMN, PINS, CSGP, EQR, MXIM, YUMC, OKE, EIX, TER of note.

Wednesday Before the Open: SHOP, BA, SNY, ADP, CPNG, NSC, CME, MCO, BSX, SPOT, HUM, GD, APH, YUM, SWK, ROK, CCL, GRMN, SIRI of note.

Earnings This Morning Of Note:

Beats: ABG +1.06, UPS +1.05, PII +0.77, BP +0.71, AAN +0.67, CROX +0.62, MMM +0.48, SYF +0.45, SHW +0.43, DTE +0.38, ADM +0.37, HAS +0.33, SSTK +0.29, ROP +0.29, MMC +0.28, SF +0.25, JBLU +0.24, EBIX +0.22, MSCI +0.21, FSV +0.19, LECO +0.18, RTX +0.17, TPB +0.16, FCF +0.12, ST +0.12, TRU +0.12, IVZ +0.10, HUBB +0.09, PPBI +0.09, CNC +0.08, WM +0.05, FISV +0.03, GLW +0.02, GE +0.02, UBS +0.02

Flat:  none

Misses: CEQP (1.14), LLY (0.29), PHM (0.09), AWI (0.06), GPK (0.04), HEES (0.04), ABB (0.03), ENTG (0.02), NVS (0.02)

Still to Report: ECL, FELE, PCAR, UMBF, WDR

Insider Purchases: Below is the list of insider buys from yesterday and this morning. Arcus Biosciences (RCUS) had an insider buy but shorts are there and they are usually correct. We would avoid following the insider at this point. Insider Action From The TradeXchange and Short Data From Erlanger Research. Update 4/26.

Erlanger Research Advance/Decline Chart/Table –Updated through 4/26.  

Gap Ups & Down In Early Pre-Market:

Gap up: FCBP +21%, GME +8%, WIRE +8%, UPS +7%, SSD +6%, HSTM +5%, BRO +4%, OMF +4%, CATY +4%

Gap down: RNWK -12%, PQG -8%, HYFM -8%, CDNS -4%

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

Stocks making the biggest moves  UPS CROX LLY GE HAS (CNBC)

5 Things To Know before the market opens.(CNBC)

Covid Cases: cases dropped to 34,641 from 46,032 a week ago. Dosing up to 42.72% of the population. 29.06% of population fully vaccinated. Deaths at 355. (CDC)

White House issues Executive Order to raise the minimum wage for federal contract workers to $15.

Census shift some congressional seats around. (The Washington Post)

West Virginia to offer $100 savings bonds to those that get vaccinated. (Axios)

Senator Richard Durbin (D – IL) does not want to split up the Infrastructure Bill.

CDC to issue new guidelines for outdoor masks. (Bloomberg)

European Union to file antitrust lawsuit against Apple (AAPL). (FT)

Robinhood Snacks features

Index Moving Averages: All indexes are now above their moving averages. 4/26 Close

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 9:30 a.m. EDT

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

The President delivers remarks on the COVID-19 response, North Lawn, 1:15 p.m. EDT

Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 1:45 p.m. EDT

The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.

Economic:

S&P Case-Shiller Home Price Index is due out at 9:00 a.m. EDT and is expected to rise to 11.8% from 11.1%.

April Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 115 from 109.70.

$62 Billion of 7 Year Treasuries are auctioned at 1:00 p.m. EDT.

Weekly API Petroleum Data is due out at 4:30 p.m. EDT.

Meetings & Conferences of Note

LUMO TYL (Corporate Event) BADFF (Investor Day) CYCN (Webcast)

Sellside Conferences: UBS Asia Healthcare Conference (4/27-4/29)

Industry Conferences:

M&A Activity

Upgrades & Downgrades of Note From Sellside Firms:

Monday Recommendations:

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