Earnings After The Close:
IPOs Priced or News: None of note.
New SPACs launched: Apex Technology Acquisition (APXT) combines with AvePoint to trade as AVPT as of today.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: BYSI PYPD QSI PBYI of note.
Selling Shareholders of note: FOUR RPAY AGS of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: MRTX FOUR GTHX LTRN FUSN KMPH CBAT RPTX AGS PLRX RNA 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:
IBM President Jim Whitehurst steps down. Thought to be next CEO of IBM.
Sinclair Broadcast (SBGI) makes offer to buy NBCUniversal seven regional sport networks. (NY Post)
Facebook (FB) tests Twitter like threads on some pages. (Tech Crunch)
Autohome (AHTM) CFO Jun Zou to resign noting other personal commitments.
Laredo Petroleum (LPI) cuts 5% of its workforce.
Concentrix (CNXC) sells its mobile network solutions business to Lumine Group, no terms.
fuboTV (FUBO) CFO Simone Nardi to leave company.
Ocugen (OCGN) Covid-19 vaccine partner Bharat Biotech has 77.8% protection against Covid-19.
Barron’s + on BKNG ING GNUS AMZN KRO CR NPO CWST NL EXPO STMP ATRI NEOG WRLD NTGR COHR GD. +/- on FB.
Dividend Increases: HPK
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 -3 Dow Jones Industrial Average -27 NASDAQ +17 Russell 2000 +2.04. Fair values are mixed. Asia mixed and Europe lower. VIX is at 17.35 from 17.55 in futures. VIX closed at 15.07 from 15.48.
Gold, silver and copper higher. 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 $132.78 from $132.50 with the yield at 1.424% from 1.441%. Bitcoin is at $34054 from $33046 10 from Friday morning and lower by $133 and -0.85%.
Friday’s Action – 7/2 Close.
Positive Sectors On Friday: Technology, Communication Services and Materials.
Negative Sectors On Friday: Energy and Financials 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 mostly higher, Bonds higher, U.S. Dollar dollar lower and Commodities high. Updated 7/2 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: SGH of note.
Wednesday Before the Open: MSM of note.
Earnings This Morning Of Note:
Still to Report: none
Insider Purchases: A couple this morning.
Below is the list of insider buys from this morning and is sorted by Erlanger Volume Swing (EVS). The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Several names with excess short selling and only LRMR has dumb short sellers. Several have no history but short selling is elevated in ASAN. Updated 7/6
Erlanger Research Advance/Decline Chart –Updated through 7/1 close.
Gap Ups & Down In Early Pre-Market:
Gap up: ISEE +25%, ALXO +15%, OCGN +13%, MNOV +7%, MUX +6%, RADA +6%, CANO +4%, LPI +3%
Gap down: AHT -28%, DIDI -17%, YMM -16%, BZ -10%, IPHA -5%, KMPH -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 DIDI AXP COP MMM (CNBC)
OPEC + Meeting called off Monday meeting, no future date sent. (CNBC)
Chinese President Xi to hold a video call with European Union leaders this week. (Bloomberg)
67% of Americans have had at least one dose of the Covid-19 vaccine. Of the unvaccinated 74% say they will not get vaccinated as they believe the risk is exaggerated.
Andy Jassy take over from Jeff Bezos as the CEO of Amazon (AMZN).
Federal Reserve Chairman Powell met with the CEO of Coinbase on May 11th. (Reuters)
Tropical Storm Elsa to hit Central Florida mid week.
Tyson Foods (TSN) recalls 8.5 million pounds of frozen fully cooked chicken.
Didi Global (DIDI) announced that it app has been taken down in China.
Robinhood looks at .
Index Moving Averages: 7/2 Close – The Confidence Score remains at 100%.
The President receives the President’s Daily Brief, Oval Office, 10:30 a.m. EST
Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EST
The President receives a briefing from members of the White House COVID-19 Response Team on the COVID-19 pandemic and the state of vaccinations, Roosevelt Room, 1:15 p.m. EST
The President delivers remarks on the COVID-19 response and the vaccination program, South Court Auditorium, 2:45 p.m. EST
None of note.
June ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and came in last month at 64% and is expected to fall this month to 63%.
Santander Holdings USA (SHUSA) via Banco Santander (SAN) to buy all the shares of Santander Consumer USA (SC) for $39 a share.
Brookfield Business Partners (BBU) announced agreement to buy DexKo Global for $3.4 billion.
Patterson-UTI to buy Pioneer Energy Services for $295 million.
Huntington Ingallls (HII) to buy Alion Science & Technology for $1.65 billion in cash from Veritas Capital.
Meetings of Note:
Sellside Conferences: Citi APAC Materials Day (7/6-8). TD Securities Virtual Energy Conference (7/6-8) UBS China Hong Kong Property Conference (7/6-7)
Company Meetings: ALMSY (Investor Meeting)
Industry Meetings: None of note.
Upgrades & Downgrades: Todays recs see 6 upgrades and 1 downgrade.