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"CAPIS Morning Note – 6/15/21: Stocks Higher As Federal Reserve Starts A Two Day Meeting"

posted by CAPIS on 06/15/2021 at 8:34 am

by CAPIS

06/15/2021 at 8:34 am

Breaking News: PPI comes in hot +0.8% and retail sales weak at -1.3%.

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: RAPT PDSB ARE ABR EARN CCCC MSTR PTGX 0f note.

Selling Shareholders of note: EARN PING of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: RIG of note.

Convertible Offering & Notes Filed: CBRL VRM NEP  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:

Biogen (BIIB) Phase III gene therapy study in Choroideremia did not meet primary end points.

Novavax (NVAX) gets “positive results” for its first study influenza and Covid-19 vaccines administered at the same time.

Vimeo (VMEO) sees May growth of 18% y/y.

Cisco (CSCO) wins $1.2 billion Defense Information Systems Agency contract.

Spirit (SAVE) provides upbeat Q2 guidance.

Discover (DFS) sees delinquency rate drop to 1.5% from 1.69%.

Dividend Increases: TROW (special $3) FDX 

Stock Split: 

Higher Guidance: 

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: AZPN

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

S&P 500 +5 Dow Jones Industrial Average +6 NASDAQ +17 Russell 2000 +7.  Fair values are mixed. Asia mixed and Europe higher. VIX is at 19.03 from 18.70  in futures. VIX closed at 16.39 from 16.10.

Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132.58 from $132.81 with the yield at 1.494% from 1.462%.  Bitcoin at $40084 from $39315  up $428 and +1.09%.

Monday’s Action – 6/14.  

Positive Sectors On Monday:  Technology, Communication Services and Energy of note.

Negative Sectors On Monday: Materials, Financials and Industrials 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 mostly higher, Bonds lower, U.S. Dollar lower and Commodities mixed. Updated 6/14 Close.

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

Today After the Close: ORCL, HRB, STEP, MANU, LZB of note.

Wednesday Before the Open: None of note.

Earnings This Morning Of Note:

Beats: None

Flat: None

Misses: None

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 EXLS NYCB but so far shorts are making money in both names. Updated 6/15

Erlanger Research Advance/Decline Chart/Table –Updated through 6/14. We threw in some directional arrows against the price chart of the S&P 500. All is clear for now.

Gap Ups & Down In Early Pre-Market:

Gap up: AMPE +33.3%, FUSN +18%, RAPT +7.4%, LEU +6.7%, BDSX +5.9%, CLLS +3.8%

Gap down: PDSB -20.7%, PING -7%, PTGX -6.2%, VRM -5.1%, ARE -4.8%, EARN -3.8%, CCCC -3.5%

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   X (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

U.S. and Europe end tariff dispute between Airbus (EADSY) and Boeing (BA). (FT)

Several retailers to sell other brands besides their own – EXPR URBN and J. Crew. (WSJ)

Honeywell (HON) to reduce N95 mask production due to falling demand. (Bloomberg)

Robinhood Snacks looks at Lordstown Motors (RIDE) and is truckload of trouble. G-7 to build infrastructure to tackle China.

Index Moving Averages: 6/14 Close – The Confidence Score is at 100%.

Geopolitical:

The President will meet with His Majesty King Philippe, King of the Belgians, and His Excellency Alexander De Croo, Prime Minister of Belgium.

The President will participate in the U.S.–EU Summit, which will underscore our commitment to a strong Transatlantic partnership based on shared interests and values.

The President will travel to Geneva, Switzerland.

The President will meet with His Excellency Guy Parmelin, President of the Swiss Confederation.

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

Economic:

May Retail Sales are due out at 8:30 a.m. EDT and came in last month at 0% and is expected to drop -0.60% this month.

June Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to fall to 20 from 24.30.

May PPI is due out at 8:30 a.m. EDT and is expected to drop to 0.5% from 0.6%.

May Industrial Production is due out at 9:15 a.m. EDT and is expected to stay at 0.7%.

June NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to stay at 83.

20 Year Bond Auction at 1:00 p.m. EDT.

M&A Activity

BRP Group (BRP) to buy RogersGray for $38 million.

Meetings of Note:

Sellside Conferences: Bank of America Biopharma Conference (6/14-16) Morgan Stanley U.S. Financials Payments & CRE Conference (6/14-16) Credit Suisse Communications Conference (6/14-15)  Oppenheimer Consumer Growth & E-Commerce Conference (6/15-16) NASDAQ Investor Conference (6/15-17) Bank of America Global Telecom & Media Conference (6/15-16) Jefferies Airlines Conference (6/15)

Company Meetings: UPWK PCYO BCOR HLIO  HUM SAP EQNR  (Investor Day)   SRRK LAZR (Corporate Event) FHTX (R&D Day)

Industry Meetings:

Upgrades & Downgrades:

Monday Recommendations

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