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"CAPIS Morning Note – 6/14/21: Stocks Modestly Higher, NATO to Focus On China"

posted by CAPIS on 06/14/2021 at 8:31 am

by CAPIS

06/14/2021 at 8:31 am

Breaking News: Washington Prime (WPG) files for Chapter 11.

Several Markets are closed for trading today : China and Hong Kong are closed for the Dragon Boat Festival with Australia closed as well.

Earnings Of Note After The Close:

Beats: None of note

Flat: None of note

Misses: None of note

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: HTBX IDEX IKT SM UBER UONE  0f note.

Selling Shareholders of note:  SM of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings:   LSI AVGO CSSE SGLB  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:

ShockWave Medical (SWAV) announced CMS approval for Transitional Pass-Through payment for C2 Coronary IVL Device.

Novavax (NVAX) announces 90% effectiveness in fighting Covid-19.

Sorrento Therapeutics (SRNE) announced that UK approved COVI-DROPS for Phase 2 efficacy trial.

Facebook (FB) buys BigBox VR.

FDA approves two batches of Emergent BioSolutions (EBS) produced Johnson & Johnson (JNJ) vaccine  while killing 60 million doses at the same time.

Russell 2000 announced its preliminary reconstitution to the index, final to be announced 6/25.

Barron’s: Biogen (BBIB) approval of its Alzheimer’s drug may open up more liberal approvals. + on TSM WMT SHW UPS DOCU FSLR NEE ALB TAN.

Dividend Increases:

Stock Split: 

Higher Guidance: 

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: MEDP

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

S&P 500 +1 Dow Jones Industrial Average -20 NASDAQ +34 Russell 2000 +3.  Fair values are mixed. Asia mixed and Europe higher. VIX is at 18.70 from 19.25  in futures. VIX closed at 16.10 from 17.07.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $132.81 from $133.06with the yield at 1.462%.  Bitcoin at $39315  up $1780 and +4.74%.

Friday’s Action – 6/11.  

Positive Sectors On Friday: Technology, Consumer Cyclical and Financials of note.

Negative Sectors On Friday: Healthcare and Consumer Cyclicals 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, Bonds lower, U.S. Dollar higher and Commodities mixed. Updated 6/11 Close.

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

Today After the Close: none of note.

Tuesday Before the Open: none of note.

Earnings This Morning Of Note:

Beats: None of note.

Flat: None of note.

Misses: None of note.

Insider Purchases:

Below is the list of insider buys from  Tuesday morning and this morning sorted by day. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Insider buying and dumb short selling exists in NLTX AMRN but so far shorts are making money in both names. We note that CYCN  has above average short selling but no history.  Updated 6/10

Erlanger Research Advance/Decline Chart/Table –Updated through 6/11. Have we stalled at new highs? Nope as we moved higher on Friday.

Gap Ups & Down In Early Pre-Market:

Gap up: NVAX +6% SRNE +5%

Gap down: HTBX -3% ASND -3%

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

Stocks making the biggest moves   NVAX RIDE PHG CMG RACE GSK AZN RDSA OTLY QCOM EQIX (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Good interview with Bank of America (BAC) CEO Brian Moynihan. (CNBC)

President Biden heads from the G-7 to the 31st NATO Summit in Brussels. (CNN)

Japan and South Korea cancel top level meeting with the South Korean President. (Bloomberg)

NATO Summit to focus on China. (Reuters)

G-7 communique calls for investigation of coronavirus origins. (Reuters)

U.K. delays reopening by 4 weeks. (Reuters)

Israel swore in Naftali Bennett as the newest Prime Minister. (CNN)

Delta variant of Covid-19 is on the rise in the U.S. and could do damage in places with low vaccination rates. (CNN)

Proofpoint (PFPT) pushes back date for shareholders to vote on acquisition by Thoma Bravo.

Novavax (NVAX) to apply for EAU in the third quarter to the FDA for its Covid-19 vaccine.

Hyundai to halt U.S. plant on chip shortage.

Robinhood Snacks looks at Netflix (NFLX) creation of a merchandise shop. The week ahead.

Index Moving Averages: 6/11 Close – The Confidence Score is at 100%.

Geopolitical:

The President receives the President’s Daily Brief, 4:15 a.m. EST (10:15 AM Local), U.S. Embassy, Brussels

The President meets with His Excellency Kaja Kallas, Prime Minister of the Republic of Estonia; His Excellency Egils Levits, President of the Republic of Latvia; and His Excellency Gitanas Nausėda, President of the Republic of Lithuania, 6:35 a.m. EST (12:35 PM Local), NATO Headquarters, Brussels, Belgium

The President greets with His Excellency Jens Stoltenberg, Secretary General of the North Atlantic Treaty Organization, 7:15 a.m. EST (1:15 PM Local), NATO Headquarters, Brussels, Belgium

The President takes a family photo with other NATO leaders, 7:25 a.m. EST (1:25 PM Local), NATO Headquarters, Brussels, Belgium

The President participates in the NATO Summit, where he will affirm the United States’ commitment to NATO, Transatlantic security, and collective defense, 7:30 a.m. EST (1:30 PM Local), NATO Headquarters, Brussels, Belgium

The President holds a bilateral meeting with His Excellency Recep Tayyip Erdoğan, President of the Republic of Turkey, 11:00 a.m. EST (5:00 PM Local), NATO Headquarters, Brussels, Belgium

The President holds a press conference, 12:50 p.m. EST (6:50 PM Local), NATO Headquarters, Brussels, Belgium

Federal Reserve Speakers: None of note today.

Economic:

No economic data of note besides weekly data.

M&A Activity

Meetings of Note:

Sellside Conferences: Jefferies Steel & Metal Summit (6/14) Bank of America Biopharma Conference (6/14-16) Morgan Stanley U.S. Financials Payments & CRE Conference (6/14-16)

Company Meetings: ZI HLIT   (Investor Day)   

Industry Meetings:

Upgrades & Downgrades:

Friday Recommendations

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