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"CAPIS Morning Note – 6/21/21: Stocks Rally From Overnight Weakness"

posted by CAPIS on 06/21/2021 at 8:54 am

by CAPIS

06/21/2021 at 8:54 am

Breaking News: Stocks are staging an overnight turnaround of weakness along with Friday’s selling and are set to open higher. (CNBC)

Earnings Of Note After The Close:

Beats: None

Flat: None

Misses: None

Still to Report: None

Capital Raises: 

IPOs Priced or News:

New SPACs launched: Climate Change Crisis Real Impact I Acquisition Corp (CLII) to transfer to NASDAQ as it completes combination with EVgo Services.

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: None 0f note.

Selling Shareholders of note: None of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: None 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:

Boeing (BA) announced that the 737-10 completed a successful first flight. The 737-10 is the largest airplane in the 737 Max family.

Barron’s is + SIX LEN FDX WFC ORCL. 

Covid-19 sees a bounce higher off the recent lows as cases rise to 12,824 from 9,587 cases while deaths at 379 from 174 deaths.

Dividend Increases: 

Stock Split: 

Higher Guidance: SMLP

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: 

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

S&P 500 +13 Dow Jones Industrial Average +179 NASDAQ +17 Russell 2000 +13.65.  Fair values are higher. Asia mixed and Europe mixed. VIX is at 20.76 from 19.50 in futures. VIX closed at 20.70 from 17.02.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.41 from $132.19 with the yield at 1.438%. Bitcoin is at $32,232 lower by $3027 and -8.57%.

Friday’s Action – 6/18 Close.  

Positive Sectors On Friday: None of note.

Negative Sectors On Friday: Energy, Utilities, Financials and Materials of note.

One Month Winners: Technology, Real Estate and Communication Services  of note.

Three Month Winners: Energy, Real Estate and Financials of note.

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

Twelve Month Winners: Materials, Communication Services, Industrials, Financials and Technology of note.

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

Stocks were lower, Bonds rebounded, U.S. Dollar higher and Commodities mostly lower. Updated 6/18 Close.

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

Today After the Close: LMNX of note.

Tuesday Before the Open: KFY, CGNT, PLUG of note.

Earnings This Morning Of Note:

Beats: none

Flat: none

Misses: none

Still to Report: 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 UHAL QSR EEFT but so far shorts are making money in all names. No data on VERO ITOS. Updated 6/16

Erlanger Research Advance/Decline Chart –Updated through 6/17 close. There is some weakness that is pretty obvious. Time to be concerned. Monday we will look at our Advance/Decline Model that has appeared here.

Gap Ups & Down In Early Pre-Market:

Gap up:  RAVN +49% MNOV +44% RFL +7% IAG +4%.

Gap down: TBPH -11% AHT -6% CLII -4% .

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  MSTR COIN RAVN  (CNBC)

5 Things To Know Before Markets Open. (CNBC)

Japan announces that 10,000 spectators allowed for each sporting event at the Olympics.

Japan fell -4% overnight before bouncing to close down -3%. (CNBC)

Nuclear talks with Iran fail after Iran elected  Ebrahim Raisi as President. (Bloomberg)

Canada to reopen borders when 75% of Canadians are vaccinated. (Bloomberg)

States at risk due to lower percentage vaccinated include Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Wyoming. (CNN)

Morgan Stanley (MS) resumes in person meetings. (NY Post)

Royal Caribbean (RCL) had its first cruise in 15 months from Port Miami. (Bloomberg)

American Airlines cut flights over the weekend to alleviate operational strains. (WSJ)

Index Moving Averages: 6/16 Close – The Confidence Score is at 33%.

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 9:50 a.m. EST

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

The President meets with lead financial regulators for an update on the state of the country’s financial system and institutions, Oval Office, 1:45 p.m. EST

Senate to vote soon whether to advance For The People Act. (CNN)

Ethiopians are voting in first multiparty election in 16 years. (CNN)

People’s Bank of China is out with its latest rate decision and

Economic:

None of note.

M&A Activity

CNH Industrial (CNHI) to buy Raven Industries (RAVN) for $58 a share.

Meetings of Note:

Sellside Conferences: Roth Capital Partners London Conference (6/21-6/23) Raymond James Human Health Innovations Conference (6/21-23) UBS Taiwan Virtual Conference (6/21-23) Morgan Stanley Electric Vehicle Investor Conference (6/21)

Company Meetings: SRRA SLRX UGI  (Investor Day) CYDY (Webcast)

Industry Meetings: International Paris Airshow (6/21-27)

Upgrades & Downgrades:

Friday Recs

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