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07.29.2021 15 new posts under Morning Note (10), CAPIS Insights (3), Compliance Docs. (2)

Morning Note

News

Morning Note

"CAPIS Morning Note – 6/24/21: Futures Up Almost 0.50%. Busy IPO Day."

posted by CAPIS on 06/24/2021 at 8:43 am

by CAPIS

06/24/2021 at 8:43 am

Breaking News: 

Beats: WOR +0.58, KBH +0.19, SCS +0.06, FUL +0.02

Flat:  None

Misses: None

Capital Raises: 

IPOs Priced or News: Confluent (CFLT) priced at $26 above range of $20 to $23. Bright Health Group (BHG) priced at $18 below range of $20 to $23. Monte Rosa Therapeutics (GLUE) priced at $19 at high end of range $17 to $19.

New SPACs launched: Thomo Bravo Acquisition (ACAC) completes combination with IronSource to trade as IS. Starting 6/29.

Secondaries Priced:   OSW AFCG TALO BNL  of note.

Notes Priced of note:  BSY of note.

Common Stock filings: BNL 0f note.

Selling Shareholders of note: TALO NBSE of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: DX BNL PRTG 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:

Intrepid Potash (IPI) increases the price of potash and Trio.

McAfee founder John McAfee dead at age 75  in a Spanish prison awaiting extradition to the U.S.

AMC Networks (AMCX) shareholders do not approve dual class proposal.

KB Home (KBH) raises guidance by $200 million on the revenue side.

U.S. may block sale of some solar goods made in Xinjiang region. (Bloomberg)

After hours + DHX +28%  AGTC +14% RCUS +10%  FSP +6% SCS +6%  and – PRTG -23% DQ -9% TALO -6% KBH -4%.

Dividend Increases: SCS

Stock Split: 

Higher Guidance: SCS CNXC PKI PENN

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: SCS DHX FSP

What’s Happening This Morning: Futures value reflects the change with fair value. Markets worldwide higher on German IFO data which came in better than expected.

S&P 500 +21 Dow Jones Industrial Average +184 NASDAQ +89 Russell 2000 +17.93.  Fair values are mixed. Asia and Europe higher. VIX is at 17.95 from 18.80 in futures. VIX closed at 16.32 from 16.60.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.11 from $132.33 with the yield at 1.48% from 1.465%. Bitcoin is at $33879 from $33945 yesterday and higher by $694 and 2.12%.

Wednesday’s Action – 6/23 Close.  

Positive Sectors On Wednesday: Consumer Cyclical, Energy and Communication Services.

Negative Sectors On Wednesday: Utilities, Healthcare and Consumer Defensive 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 mixed, Bonds lower, U.S. Dollar dollar higher and Commodities mixed. Updated 6/23 Close.

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

Today After the Close: NKE, FDX, BB, SNX, NUVB, PRGS, CAMP of note.

Friday Before the Open: PAYX, KMX, JKS, APOG of note.

Earnings This Morning Of Note:

Beats: DRI +0.24, GMS +0.22, ACN +0.16, RAD +0.16, MEI +0.10

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”.  No data on SREV. Updated 6/23

Erlanger Research Advance/Decline Chart –Updated through 6/23 close.  The QPI Advance/Decline Model has moved to cash on Tuesday’s close. 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: DHX +16%, RCUS +14%, AGTC +11%, KUKE +10%, FSP +8%, KZIA +7%, BOCH +4%

Gap down: PRTG -26%, DQ -8%, TALO -6%, BNL -4%, KBH -4%, OSW -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  LLY ACN RAD DRI KBH CMCSA (CNBC)

5 Things To Know Before Markets Open. (CNBC)

CDC finds rare link between vaccination and rare heart inflammation. (CNBC)

Covid is deadlier this year than in 2020. (CNBC)

China Covid-19 data was removed from NIH database, limiting the ability to determine origins of the virus. (WSJ)

Treasury Secretary Yellen warns on raising the debt limit but Senate Republicans say cuts needed. Showdown ahead? (The Hill)

Potential deal agreed to on Infrastructure Bill. (NYT)

Microsoft (MSFT) next version of Windows preview. (ZD.net)

JP Morgan (JPM) tells employees to report status of their vaccination. (BBC)

Index Changes: DM to join Russell 2000. NOVN moves into the Russell Microcap Index. (The Trade Exchange)

Robinhood  discusses the move above $2 trillion in market cap for Microsoft (MSFT). Winnebago (WGO) hits a record quarter but will it last?

Index Moving Averages: 6/23 Close – The Confidence Score is at 40%. 

Geopolitical:

Bank of England (BOE) latest rate decision is out and no change.

The President receives the President’s Daily Brief, Oval Office, 10:15 a.m. EST

The President departs the White House en route Joint Base Andrews, South Lawn, 2:00 p.m. EST

The President departs Joint Base Andrews en route Raleigh, North Carolina, 2:30 p.m. EST

The President arrives in Raleigh, North Carolina, Raleigh-Durham International Airport, 3:30 p.m. EST

The President visits a mobile vaccination unit and meets with frontline workers and volunteers, 4:50 p.m. EST

The President delivers remarks highlighting the importance of getting vaccinated and kicking off a community canvassing event, 5:15 p.m. EST

The President departs Raleigh, North Carolina en route Joint Base Andrews, Raleigh-Durham International Airport, 6:35 p.m. EST

The President arrives at Joint Base Andrews, 7:35 p.m. EST

The President returns to the White House, 7:55 p.m. EST

Fed Speakers

Federal Reserve Philadelphia President Patrick Harker speaks at 9:30 a.m. EDT.

Federal Reserve New York President John Williams speaks at 11:00 a.m. EDT.

Federal Reserve St. Louis President James Bullard speaks at 1:00 p.m. EDT.

Federal Reserve Dallas President Robert Kaplan speaks at 1:00 p.m. EDT.

FEDERAL RESERVE STRESS TESTS FOR BANKS announced at 4:30 p.m. EDT.

Economic:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

May Durable Orders is due out at 8:30 a.m. EDT and is expected to rise to 2.8% from 1.0%.

Q1 GDP (third estimate) is due out at 8:30 a.m. EDT and is expected to remain at 6.4%. The Bank of England (BOE) is out with its latest monetary policy decision well before markets open on Thursday.

The latest short interest for the NYSE and NASDAQ is due out after the close for the period through June 11th settlement date.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

M&A Activity

Bank of Commerce (BOCH) to merge into Columbia Banking System (COLB). See conference call below.

Visa (V) buys Tink for 1.8 billion Euro.

eBay (EBAY)  divests South Korean business for $3 billion to Emart.

Brunswick (BC) to buy Navico for $1.05 billion.

Meetings of Note:

Sellside Conferences: Jefferies Global Consumer Conference (6/22-24)  Sidoti Virtual Investor Conference (6/23-24) Citi Asian Property Conference (6/23-25) Bank of America Hydrogen Conference (6/23-24) Morgan Stanley China BEST Conference (6/24)

Company Meetings:  GOL CX HIBB UNFI PKI (Investor Day) PD PKI (Analyst Day)   (Webcast) CSCO  (Sellside Sponsored Meeting) (R&D Day)  BOCH COLB FULC AGTC (Conference Call) MSFT (Corporate Event)

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

Upgrades & Downgrades: Todays recs see 18 upgrades and 2 downgrades.

Wednesday Recs

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