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"CAPIS Morning Note – 7/26/21: Stocks Begin On A Weaker Note But Off Morning Lows"

posted by CAPIS on 07/26/2021 at 8:43 am

by CAPIS

07/26/2021 at 8:43 am

Key Interview: Lucid (LCID) CEO Peter Rawlinson which begins trading today. (CNBC)

Earnings After The Close:

 Beats: None

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: None of note.

New SPACs launched: None of note.

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: HLNE LFMD STAF of note.

Selling Shareholders of note:  EQT AVCT ELMS BODY of note.

Private Placement of Public Entity (PIPE): None of note.

Mixed Shelf Offerings: AVCT FBIO FVE SYBX LFT 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:

ComScore (SCOR) CFO Greg Fink to leave at the end of August.

T2 Biosystems (TTOO) Chairman John McDonough resigns and CEO John Sperzel named as Chairman.

Certara (CERT) announces that its Vaccine Simulator accurately predicted 8 weeks was optimal timing between first and second dose of Covid-19 vaccines.

Barron’s is + on HLT HST MGP RCL TNL WH AQUA TRIP TSLA NFLX SO PEG FE NWL DFS CSCO TXT AMGN.

Dividend Increases: KRP  MCK 

Stock Split:

Higher Guidance: 

Mixed Guidance:

Lower Guidance: 

Buyback Announcements: 

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

S&P 500 -7 Dow Jones Industrial Average -56 NASDAQ -24 Russell 2000 +4.  Fair values are mixed. Asia mixed and Europe lower. VIX is at +20.70 from +20.10 from 20 in futures. VIX closed at $17.20 from $17.69. Gold, silver  and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $134.48 from $134.09 with yields at 1.246% from 1.293% on Friday. Bitcoin at $38,490 from $32,364.82  up +$4048 or +11.76%.

Friday’s Action – 7/23 Close.  

Positive Sectors On Friday: Communication Services, Utilities and Healthcare of note.

Negative Sectors On Friday: Energy of note.

One Month Winners: Technology, Consumer Cyclical and Materials of note.

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

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

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

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

Stocks were higher, Bonds mixed, U.S. Dollar higher and Commodities mixed. Updated 7/23 Close.

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

Today After the Close: TSLA, CDNS, ARE, AMP, LOGI, BRO, UHS, PKG, FFIV, AGNC, ACC, AXTA, MEDP, AMKR of note.

Tuesday Before the Open: UPS, RTX, MMM, GE, SHW, FISV, ECL, BSX, IQV, CNC, GLW, ROK, SWK, ADM, PCAR, SIRI, DTE, ENTG, PHM of note.

 Earnings of Note This Morning:

Beats: QURE +6.33, LMT +0.61, HAS +0.58, PKI +0.39, BOH +0.37, LII +0.16, CBU +0.08, OTIS +0.07, DORM +0.06, CHKP +0.05, PHG +0.01

Flat: RPM 0.00

Misses: none

Still to Report: LKFN

Insider Purchases:  None of note today. 

Above 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”.  None of note with heavy short selling and as note above Delta with moderate. Updated last 7/22

Erlanger Research Advance/Decline Chart –Updated through 7/23 close. 

Gap Ups & Down In Early Pre-Market:

Gap up: FLOW +7%, CLVR +5%, TARS +3%

Gap down: GOTU -27%, EDU -24%, TAL -22%, DAO -18%, TME -15%, DIDI -13%, ZME -9%, SYBX -5%, JG -5%, JD -5%, BIDU -5%, PHG -4%, BABA -4%, ASHR -4%, BODY -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    (CNBC)

5 Things To Know Before The Market Opens. (CNBC)

Covid Stats: Cases 64,317 versus 39,719 a week ago. 24,252 current hospitalizations versus 17,168 a week ago. (CDC)

Chinese Education Stocks continue to struggle.

House Speaker Pelosi wants to link reconciliation bill passage to infrastructure bill which could lead to no passage of any bills says Senator Rob Portman. (ABC News)

NIH Director Anthony Fauci says going wrong direction on Covid-19, masks may be mandated locally. (CNN)

Former Surgeon General Jerome Adams say we will return to last year’s mitigations. (Bloomberg)

Robinhood looks at Facebook (FB) and fight with Biden. Week ahead looked at.

Index Moving Averages: 7/23 Close – The Confidence Score moves to 88% from 73%.  

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 10:00 a.m. EST

The President and The Vice President deliver remarks to celebrate the 31st anniversary of the Americans with Disabilities Act, which the President proudly cosponsored as a Senator; The Second Gentleman also attends, Rose Garden, 11:10 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EST

The President participates in a bilateral meeting with His Excellency Mustafa Al-Kadhimi, Prime Minister of the Republic of Iraq, Oval Office, 2:00 p.m. EST

 Fed Speakers

None of note today.

Economic:

June New Home Sales is due out at 10:00 a.m. EDT and is expected to rise to 800,000 from 769,000.

$60 Billion Auction of 2 Year Treasuries.

After the close, the latest NYSE and NASDAQ Short Interest is due out for the period ended July 15th.

M&A Activity:

Old Second Bancorp (OSBC) to buy West Suburban Bancorp.

Thoma Bravo to buy Medallia (MDLA) for $34 a share.

Willis Towers Watson (WLTW) and Aon plc (AON) terminate merger to end DOJ litigation.

Meetings of Note:

Sellside Conferences: None of note

Company Meetings: LOKB (Investor Day) INTC (Webcast) BSGM (Conference Call) 

Industry Meetings: Alzheimer’s Association International Conference (7/26-30)

Upgrades & Downgrades: Today recs see 2 upgrades and 6 downgrades. Chinese Education stocks downgraded by CLSA and Bank of America.

Friday Recs

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.