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Morning Note

"CAPIS Morning Note – 5/24/21:"

posted by CAPIS on 05/24/2021 at 7:07 am

by CAPIS

05/24/2021 at 7:07 am

Breaking News: New York City schools return to full school and no remote learning.

Earnings Of Note After The Close:

Beats: None

Flat:  None

Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: ANVS METX STAF 0f note.

Selling Shareholders of note: ACET of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings:  LHCG KALV 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:

Bristol Myers (BMY) gets a positive CHMP opinion recommending use of Opdivo in metastatic colorectal cancer.

NASDAQ gains for the first time in five weeks.

Blue Bird (BLBD) CFO Jeffrey Taylor to resign for personal reasons.

Royal Caribbean (RCL) to launch its Alaska season for this summer.

Wuhan researchers  were hospitalized with Covid-19 like symptoms in November of 2019. (WSJ)

Bitcoin was extremely volatile over the weekend down over -13% but now up +14%.

Barron’s + on T NFLX MCD CMG NDLS EAT WEN  KSS CSCO   while +/- on VIAC CMCSA

Buyback Announcements: LU VRTV

What’s Happening This Morning: Futures value reflects the change with fair value.

S&P 500 +21 Dow Jones Industrial Average +106 NASDAQ +106  Russell 2000 +5  All fair values are higher today except for the Dow. Asia mixed and Europe mixed. VIX is at 21.55 from 21.82 in futures. VIX closed at 20.15 from 20.67.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $132.59 from $132.44 with the yield at 1.61% from 1.62%.  Bitcoin $38432.95 from $41098 on Friday and this morning at $5442.21 and 16.49%.

Friday’s Action – 5/21.  Equity indexes were lower after two days of buying.

Positive Sectors On Friday: Financials, Utilities and Industrials of note.

Negative Sectors On Friday: Consumer Cyclical, Technology and Communication Services of note.

One Month Winners: Energy, Financials, Materials and Industrials  of note.

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

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

Twelve Month Winners: Materials, Industrials, Financials and Consumer Cyclicals of note.

Year to Date: Energy, Communication Services, Financials and Materials of note.

Stocks were mixed on Friday, Bonds higher, U.S. Dollar higher and Commodities saw Gold higher and Silver lower.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: NDSN, API, LMNX, RIDE of note.

Tuesday Before the Open: AZO, CBRL, VSAT, DY, MMYT of note.

Earnings This Morning Of Note:

 Beats: None

 Flat:  None

 Misses: None

Insider Purchases:

Below is the list of insider buys from yesterday and this morning sorted by level of short selling. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. However, today we have one that interests us with no short history as it is a recent IPO, GDRX. The shorts have made -24.08% and this is a large insider buy. As such we like this as a long idea. Updated 5/24.

Erlanger Research Advance/Decline Chart/Table –Updated through 5/21.

Gap Ups & Down In Early Pre-Market:

Gap up: TLC +4%.

Gap down:  None of note.

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

Stocks making the biggest moves SPCE MLM CVAC MRNA AMC GSK COIN  (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Belarus ordered a Ryanair (RYAAY) plane to make an emergency landing so they could arrest opposing journalist. (Bloomberg)

Covid -19 stats continue to move in favorable directions.

Senators reach a deal on a $304 billion surface transportation bill. (Bloomberg)

Democrats may pass a $1.7 trillion infrastructure deal using budget reconciliation rules without Republicans.

CDC looking into several young people that developed myocarditis after vaccination. (NYT)

Vivint Smart Home (VVNT) CEO Todd Pedersen to step down as CEO once Board finds a successor.

Index Moving Averages: 5/19 Close – The struggle continues.

Geopolitical:

The President and The Vice President receive the President’s Daily Brief, 9:50 a.m. EDT

Press Briefing by Press Secretary Jen Psaki, 12:00 p.m. EDT

The President receives briefing on the Atlantic Hurricane Outlook and preparedness efforts, FEMA Headquarters, 1:30 p.m. EDT

Federal Reserve Speakers:

Federal Reserve Governor Lael Brainard speaks at 9:00 a.m. EDT.

Federal Reserve Cleveland President Loretta Mester speaks at 11:00 a.m. EDT.

Federal Reserve Atlanta President Raphael Bostic speaks at 12:00 p.m. EDT.

Federal Reserve Kansas City President Esther George speaks at 5:30 p.m. EDT.

Economic:

None of note for today. Due out this week new home sales, consumer confidence, durable goods, GDP ,pending home sales, personal income, Chicago PMI and University of Michigan Consumer Sentiment.

M&A Activity

Cabot Oi & Gas (COG) and Cimarex Energy (XEC) to merge in all stock deal. Call at 8:30 a.m. EDT.

Meetings of Note:

Sellside Meeting:

Company Meetings:   COG XEC (Conference Call) 

Industry Meetings: World Geothermal Congress (5/21-5/26)

Upgrades & Downgrades:

Friday’s 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.