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"CAPIS Morning Note – 6/23/21: NASDAQ Hits All Time High Yesterday And Looks To Open Higher Today"

posted by CAPIS on 06/23/2021 at 8:42 am

by CAPIS

06/23/2021 at 8:42 am

Breaking News: Delta variant of Covid-19  could cause a full resurgence of Covid-19 in the coming months. (CNN)

Earnings Of Note After The Close:

Beats:

 Flat: 

 Misses:

Capital Raises: 

IPOs Priced or News:

New SPACs launched: Thomo Bravo Acquisition (ACAC) completes combination with IronSource to trade as IS. Starting 6/29. Fintech Acquisition (FTIV) shareholders approve combination with Perella Weinberg Partners and will begin trading on 6/25 as PWP.

Secondaries Priced:   None of note.

Notes Priced of note:  None of note.

Common Stock filings: BTAI 0f note.

Selling Shareholders of note: WSC  of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: DHC SMED SOLO 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:

Canada passes bill to legalize single game wagering, a plus for gaming stocks like MGM DKNG.

KLA Corporation (KLAC) announces four new products for automotive chip manufacturing.

Nikola (NKLA) to invest $50 million in cash and stock in Wabash Valley Resources.

Boeing (BA) wins $580 million Special Operations Command contract.

Delta (DAL) adds more staffing besides new pilots announced yesterday.

The Voting Rights Bill failed to advance in the Senate as the vote was 50-50 on party lines.

After hours + SCR +6% CDR +5%  and – GMTX -36% EYES -16% BTAI -7% .

Dividend Increases: 

Stock Split: 

Higher Guidance: INFO

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: WSC

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

S&P 500 +4 Dow Jones Industrial Average +69 NASDAQ +11 Russell 2000 +1.55.  Fair values are mixed. Asia mixed and Europe mixed. VIX is at 18.80 from 20 in futures. VIX closed at 16.60 from 17.89.

Gold, silver flat and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $132.33 from $132.19 with the yield at 1.465% from 1.487%. Bitcoin is at $33945 from $30,725 yesterday and higher by $33958 and 4.17%.

Tuesday’s Action – 6/22 Close.  

Positive Sectors On Tuesday: Technology, Consumer Cyclical and Communication Services.

Negative Sectors On Tuesday: Real Estate and Utilities 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 higher, Bonds higher, U.S. Dollar dollar lower and Commodities mixed. Updated 6/22 Close.

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

Today After the Close: KBH, FUL, SCS of note.

Thursday Before the Open: ACN, DRI, FIZZ, WOR, MEI, DCBO, GMS, RAD of note.

 Earnings This Morning Of Note:

Beats: WGO +0.39, INFO +0.01

Flat:  none

Misses: PDCO (0.14)

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 QSR. No data on CERE. Updated 6/22

Erlanger Research Advance/Decline Chart –Updated through 6/22 close.  The QPI Advance/Decline Model has moved to cash this morning despite yesterday’s upside action. Previously, the model appeared in the note and we thought it would useful to provide an update.

Gap Ups & Down In Early Pre-Market:

Gap up: TLSA +12%, SCR +11%, LOOP +10%, CDR +4%, BTBT +4%, NKLA +4%

Gap down: GMTX -29%, EYES -17%, BTAI -8%, KROS -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  MSTR SHAK WGO MSFT CARR INTC XPEV(CNBC)

5 Things To Know Before Markets Open. (CNBC)

White House to meet with Democrats  today on infrastructure. (The Hill)

Apple Daily to close publication in Hong Kong due to arrests of journalists and assets being frozen. (CNN)

OPEC may lower production by 500,000 barrels in August. (The Trade Exchange)

FDA Statisticians did not want to approve Biogen (BIIB) Alzheimer’s drug. (Bloomberg)

States may file antitrust complaints against Google (GOOGL). (Reuters)

Amazon (AMZN) to face unionization vote for the International Brotherhood of Teamsters. (CNBC)

Robinhood  discusses the airline comeback with cancellations, delays and rising fares. Blackstone (BX) buy of Home Partners of America.

Index Moving Averages: 6/21 Close – The Confidence Score is at 40%. 

Geopolitical:

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

The President attends and delivers remarks at the funeral ceremony of Senator John Warner; The First Lady also attends, Washington National Cathedral, 11:00 a.m. EST

The President has lunch with The Vice President, Private Dining Room, 12:45 p.m. EST

Press Briefing by Press Secretary Jen Psaki, 12:45 p.m. EST

The President and the Attorney General meet with stakeholders to discuss ways the Biden-Harris Administration is acting to keep our cities and neighborhoods safe, Roosevelt Room, 2:15 p.m. EST

The President and the Attorney General deliver remarks on the Administration’s gun crime prevention strategy, State Dining Room, 3:30 p.m. EST

Fed Speakers

Federal Reserve Governor Michelle Bowman speaks at 9:10 a.m. EDT.

Federal Reserve Atlanta President Raphael Bostic speaks at 11:00 a.m. EDT.

Federal Reserve Boston President Eric Rosengren speaks at 4:30 p.m. EDT.

Economic:

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

MBA Mortgage Applications were out at 7:00 a.m. EDT and

May New Home Sales are due out at 8:30 a.m. EDT and are expected to fall to 873,000 from 975,000.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

M&A Activity

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) JP Morgan Energy, Power & Renewables Conference (6/22-6/23) Jefferies Global Consumer Conference (6/22-24) Goldman Sachs Leisure & Transport Conference (6/22-6/23) Sidoti Virtual Investor Conference (6/23-24) Citi Asian Property Conference (6/23-25) Bank of America Hydrogen Conference (6/23-24)

Company Meetings: BOX VAPO GSK IPHA RE JNJ  (Investor Day) EQIX (Analyst Day)  OKTA LSCC  (Webcast)  IR (Sellside Sponsored Meeting) JNCE(R&D Day)  (Conference Call)

Industry Meetings: International Paris Airshow (6/21-27) Milken Institute Future of Health Summit (6/22-6/23)

Upgrades & Downgrades: Todays recs see 8 upgrades and 2 downgrades.

Tuesday Recs

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