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Morning Note

News

Morning Note

"CAPIS Morning Note – 6/25/21: Week Looks To End On A Positive Note"

posted by CAPIS on 06/25/2021 at 8:39 am

by CAPIS

06/25/2021 at 8:39 am

Breaking News: PCE Price Deflator Core comes in at 0.5% against estimates of 0.6%

Link On Stress Tests

Earnings After The Close:

Beats: NKE +0.42, SNX +0.16, PRGS +0.09, CAMP +0.01, FDX +0.01

Flat:  BB

Misses: None

Capital Raises: 

IPOs Priced or News: Elevation Oncology (ELEV) priced at $17 above range of $15 to $17. Graphite Bio (GRPH) priced at $17 at high end of range $15 to $17.

New SPACs launched:

Secondaries Priced: TBPH SNCR of note.

Notes Priced of note: None of note.

Common Stock filings:  OMP SNCR MPX of note.

Selling Shareholders of note: MPX 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:

Health Catalyst (HCAT) to buy Twistle.

FEDERAL RESERVE STRESS TESTS FOR BANKS announced at 4:30 p.m. EDT and they all passed. (NYT – Dealbook)

KBR wins a $194 million task order from US Air Force.

Hewlett Packard Enterprise (HPE) wins a $440 million Air Force contract.

After hours + NKE +12% MRTX +4% ASAN +3% with banks generally higher as well and – TBPH -8% SNCR -7% CAMP -7%  OMP -6%FDX -4% SNX -3%

Dividend Increases: 

Stock Split: 

Higher Guidance: FDX PRGS NKE

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: 

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 +6 Dow Jones Industrial Average +112 NASDAQ +27 Russell 2000 +3.90.  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 higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $132.09 from $132.11 with the yield at 1.48%. Bitcoin is at $33879 from $33945 yesterday and higher by $694 and 2.12%.

Thursday’s Action – 6/24 Close.  

Positive Sectors On Thursday: Energy, Financials and Materials as well as Industrials.

Negative Sectors On Thursday: Real Estate 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 mixed, U.S. Dollar dollar lower and Commodities mostly higher. Updated 6/24 Close.

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

Today After the Close: None of note.

Monday Before the Open: None of note.

Earnings This Morning Of Note:

Beats: KMX +0.97, JKS +0.16, APOG +0.05

Flat:  None

Misses: None

Still to Report: PAYX

Insider Purchases: None of note this morning.

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 6/24 close.  Only a small portion of the advance/decline has recovered so far. Watch closely.

Gap Ups & Down In Early Pre-Market:

Gap up: NKE +12%, BVS +5%, MRTX +5%, APOG +4%, GVA +4%

Gap down: TBPH -9%, CAMP -7%, OMP -5%, MPX -4%, FDX -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)

India reports the Delta variant of Covid-19 is spreading more quickly than in the past. (WSJ)

Infrastructure deal is Dead on Arrival (DOA) as President Biden said he wants reconciliation for what the Democrats do not get. Nonstarter for the Republicans. (Reuters)

Police resignations on the rise and so is crime. (NYT)

Credit Suisse (CS) and UBS merger is being rumored again. (Reuters)

Virgin Galactic (SPCE) gets FAA approval to take passengers into space. Share up 12%.

Robinhood  discusses the six major antitrust bills facing Big Tech and new FTC head. BuzzFeed going public via a SPAC and will buy Complex

Index Moving Averages: 6/24 Close – The Confidence Score is at 87%.  A nice recovery.

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 9:50 AM

Press Briefing by Press Secretary Jen Psaki, 12:15 p.m. EST

The President signs H.R. 49, To designate the National Pulse Memorial, into law; The First Lady also attends, South Court Auditorium, 1:30 p.m. EST

The President and the Secretary of Transportation deliver remarks to commemorate LGBTQ+ Pride Month; The First Lady also attends, East Room, 2:00 p.m. EST

The President welcomes His Excellency Mohammad Ashraf Ghani, President of the Islamic Republic of Afghanistan, and His Excellency Dr. Abdullah Abdullah, Chairman of the High Council for National Reconciliation of the Islamic Republic of Afghanistan, to the White House, Oval Office, 3:30 p.m. EST

The President departs the White House en route Camp David, South Lawn, 5:10 p.m. EST

Fed Speakers

Federal Reserve Cleveland President Loretta Mester speaks at 11:35 a.m. EDT.

Federal Reserve Boston President Eric Rosengren speaks at 1:00 p.m. EDT.

Federal Reserve New York President John Williams speaks at 3:00 p.m. EDT.

Economic:

The latest short interest for the NYSE and NASDAQ was out after the close for the period through June 11th settlement date and saw NYSE rise 0.69% and NASDAQ fall -0.62%.

May Personal Income is due out at 8:30 a.m. EDT and is expected to drop to -2.5% from -13.1-%. This is due to the stimulus money.

May PCE Prices – Core is due out at 8:30 a.m. EDT and is due to fall to 0.6% from 0.7%.

M&A Activity

Rockwell Automation (ROK) buys Plex Systems for $2.2 billion in cash.

Meetings of Note:

Sellside Conferences: Citi Asian Property Conference (6/23-25)

Company Meetings: NVRO  (Investor Day) BTAI (Corporate Event) BYSI (R&D Day)

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

Upgrades & Downgrades: Todays recs see 12 upgrades and 1 downgrades.

Thursday Recs

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