New!
06.21.2021 11 new Morning Note posts under Morning Note (10) and General (1)

Morning Note

News

Morning Note

"CAPIS Morning Note – 5/26/21: Stocks Higher, Amazon Buys MGM Studios & Gold Continues Higher"

posted by CAPIS on 05/26/2021 at 7:20 am

by CAPIS

05/26/2021 at 7:20 am

Breaking News: Amazon (AMZN) to buy MGM Studios for $8.4 billion.

Fun Fact: Richer than Bezos? Yup, LVMH Bernard Arnault is now the wealthiest person in the world.

Amazing Fact: Global Covid-19 cases fell 14% last week reports the WHO.

Earnings Of Note After The Close:

Beats: RRGB +0.86, URBN +0.48, SKY +0.26, TOL +0.20, A +0.15, ZS +0.08, HEI +0.04, RAMP +0.02

Flat:  None

Misses: INTU (0.09), JWN (0.03)

Capital Raises: 

IPOs Priced or News: Flywire (FLYW) priced at $24, high end of the range. Paymentus (PAY) priced at $21, high end of range.

New SPACs launched: 

Secondaries Priced: None of note.

Notes Priced of note: JBT of note.

Common Stock filings: PACK RSI UAVS 0f note.

Selling Shareholders of note:  INSE RCM PACK   of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: PETZ 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:

Carnival Cruise’s (CCL) Holland America Line begins cruising in Westerdam that spans the Mediterranean.

Huntington Banc (HBAN) and TCF Financials (TCF) get U.S. government approval for proposed merger.

50% of the U.S. population are now fully vaccinated.

After Hours Movers: URBN +10% ZS +8% SKY +5% RRGB +3%  and LAMR -40%  JWN -6%

Dividend Increases: KDP 

Guides Higher: INTU ZA TOL A 

Buyback Announcements: UNP

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

S&P 500 +16 Dow Jones Industrial Average +93 NASDAQ +69  Russell 2000 +10.25  Fair values are  lower today ex Russell 2000. Asia higher and Europe lower. VIX is at 20.65 from 21.55 in futures. VIX closed at 20.15 from 20.67.

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 higher vs Yen. US 10 year Treasury price is at $132.98 from $132.70 with the yield at 1.56% from 1.596%.  Bitcoin $40159 from $36751 yesterday and this morning at $2562 and +6.81%.

Tuesday’s Action – 5/25.  Equity indexes were lower after two days of buying.

Positive Sectors On Tuesday: Consumer Defensive, Technology and Consumer Cyclical of note.

Negative Sectors On Tuesday: Energy, Materials and Utilities 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 higher on Monday, Bonds higher, U.S. Dollar lower and Commodities higher as well.

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

Today After the Close: NVDA, SNOW, WDAY, OKTA, WSM, UHAL, DXC, CHNG, NTNX, AEO, APPS, PSTG, ENS, ZUO, ELF, NXGN, OOMA of note.

Thursday Before the Open: MDT, RY, TD, DG, CM, BBY, DLTR, ATHM, BURL, PLAN, HLNE, SAFM, HHR, AMWD, FRO, GCO, TITN of note.

Earnings This Morning Of Note:

Beats: DKS +2.75, ANF +1.06, CPRI +0.36, BMO +0.31, CMCO +0.03, LI +0.01

Flat:  PLAB

Misses: GOTU (0.47)

Still to Report: 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, SUMR. The shorts have made -37.42% and this is an insider buy. As such we like this as a long idea. Updated 5/26.

Erlanger Research Advance/Decline Chart/Table –Updated through 5/25.

Gap Ups & Down In Early Pre-Market:

Gap up: ZS +10.9%, URBN +9.3%, DV +8.4%, HBNC +5.7%, SOL +5.1%, PLAB +4.5%, SJR +3.5%

Gap down:  LRMR -36.6%, GOTU -14.3%, TVTX -10%, LPCN -9.5%, JWN -5.9%, UAVS -4.7%

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

Stocks making the biggest moves  (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Federal Reserve getting close to starting the taper debate. (Reuters)

President Biden will to accept a $1 trillion infrastructure bill from the Republicans. (CNN)

CDC Director Walensky notes that unvaccinated people still at risk. (NYT)

Senator Elizabeth Warren wants Federal Reserve Governor Randall Quarles gone. (Bloomberg)

Banking CEOs to testify on The Hill both today and tomorrow. (Bloomberg)

Uber (UBER) CEO not happen with the delay in getting rides and the number of drivers. ( CNBC)

Robinhood looks at Chia which is an alternative to Bitcoin and eco-friendly has doubled in value.  The New York Times (NYT) looks to buy The Athletic for $500 million.

Index Moving Averages: 5/25 Close – The color of money is green not red. We are back to mostly green.

Geopolitical:

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

Press Briefing by Principal Deputy Press Secretary Karine Jean-Pierre, 12:30 p.m. EDT

Federal Reserve Speakers:

Federal Reserve Governor Randall Quarles speaks at 3:00 p.m. EDT.

Economic:

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

Weekly Crude Oil Inventories are due out at 8:30 a.m. EDT.

Treasury 5 Year Auction at 1:00 p.m. EDT

M&A Activity

Meetings of Note:

Sellside Meeting: JP Morgan TMT Conference (5/24-26) UBS Healthcare Conference (5/24-26) UBS Energy Conference (5/25-26) Wolfe Transportation a& Industrial Conference (5/25-5/27) Truist Financial Services Conference (5/25-27) Jefferies IT Summit (5/25-26) Jefferies Renewable Energy Summit (5/25-27)

Company Meetings: OMI DCO SU F TROW VSTO IRDM CW ORKLY (Investor Meetings) HBNC  (Conference Call) MDLZ (Corporate)

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

Upgrades & Downgrades:

Tuesday’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.