Breaking News: Chinese stocks continue to suffer over crackdown on education stocks.
Earnings Out After The Close:
Beats: UHS +1.07, TNET +0.75, JJSF +0.73, AMKR +0.51, CR +0.48, TSLA +0.47, PKG +0.39, FFIV +0.30, AJRD +0.15, LOGI +0.15, CATY +0.14, HTLF +0.14, CALX +0.11, CDNS +0.10, BRO +0.09, TBI +0.09, PCH +0.08, NBHC +0.07, HSTM +0.07, HXL +0.07, LXFR +0.07, AMP +0.07, CLS +0.06, ARE +0.05, ACC +0.05, SSD +0.05, IBTX +0.04, MEDP +0.03, AXTA +0.02
Flat: NTB +0.00, BDN +0.00
Misses: AGNC (1.62), RRC (0.01)
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: MINM TDUP IRT of note.
Selling Shareholders of note: TDUP of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: FMTX PFMT 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:
Arthur J. Gallagher (AJG) terminates acquisition to buy certain of Willis Towers Watson (WTW) assets.
MDU Resources (MDU) expands natural gas pipeline in North Dakota.
Medpace (MEDP) names Kevin Brady at CFO and Jesse Geiger as President as of 8/1.
Chemours (CC) sells its Mining Solutions to Draslovka for $520 million.
McCormick (MKC) recalls several seasoning products for Salmonella contamination.
Dividend Increases: IBTX HTGC (extra)
Higher Guidance: CDNS MEDP PKG CALX CR MMM
Buyback Announcements: HOPE
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 -9 Dow Jones Industrial Average -99 NASDAQ +2 Russell 2000 -13. 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 higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $134.38 from $134.48 with yields at 1.249% from 1.246% on Monday. Bitcoin at $37,999.20 from $38,490 yesterday down -$1,906 or -4.78%.
Monday’s Action – 7/26 Close.
Positive Sectors On Monday: Energy, Materials and Financials of note.
Negative Sectors On Monday: Healthcare, Real Estate and Consumer Cyclical 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: AAPL, MSFT, GOOG, V, SBUX, AMD, SYK, MDLZ, CB, CSGP, EQR, MXIM, EXR, TDOC, ENPH, TER, BXP, MPWR, IEX, PFG, NLOK, MASI, CHRW, CRSP, QS, JNPR, MANH of note.
Wednesday Before the Open: PFE, TMO, SHOP, MCD, BMY, BA, ADP, CME, MCO, NSC, HUM, GD, EPD, SPOT, TEL, APH, ODFL, GRMN, GNRC, UMC, HES, GIB, ROL, AVY, TDY, BG, TEVA of note.
Earnings of Note This Morning:
Beats: ABG +2.69, ARCH +0.54, PII +0.53, AAN +0.39, DTE +0.38, PPBI +0.31, MMM +0.31, ADM +0.30, RGEN +0.27, UPS +0.25, ROK +0.22, HUBB +0.20, TPB +0.19, LECO +0.19, SWK +0.19, TRTN +0.18, MSCI +0.14, CTS +0.14, AWI +0.11, XRX +0.10, CVLT +0.10, RTX +0.10, SSTK +0.09, FISV +0.09, JBLU +0.09, IVZ +0.08, WM +0.08, ST +0.08, SHW +0.06, ENTG +0.06, TRU +0.05, IQV +0.05, PNR +0.04, BSX +0.03, SIRI +0.03, GLW +0.02, GE +0.02
Misses: CNC (0.12), TECK (0.04), GPK (0.02), PHM (0.01)
Still to Report: CIT, ECL, FELE, LW, MLCO, PCAR, SFNC
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 7/26 close.
Gap Ups & Down In Early Pre-Market:
Gap up: CERC +12.6%, TNET +8.9%, TFII +7.2%, FFIV +7.1%, UHS +5.8%, CR +4.6%, PTMN +3.9%, ACC +3.6%, CLS +3.2%
Gap down: SKYT -10.2%, PFMT -7.1%, TDUP -5%, LOGI -4.5%, IRT -3.6%, RRC -3.1%, MINM -3%
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Covid Stats: Cases 64,317 versus 39,719 a week ago. 24,257 current hospitalizations versus 16,974 a week ago. (CDC)
Fears of China crackdown on education stocks has spread to bond and currency markets there. (Bloomberg)
China may add more tariffs to the export of steel. (Bloomberg)
Senator Joe Manchin (D -WV) notes that is the $1.2 infrastructure bill falls apart then the $3.2 trillion reconciliation bill will die as well. ( The Hill)
White House to keep European Travel bans in place. ( NYT)
Judge gives FTC until 8/19 to amend the Facebook (FB) lawsuit. (WSJ)
Robinhood looks at Lucid Motors (LCID) and how it is copying Tesla (TSLA) marketing plan. Hasbro (HAS) sales strong in the last quarter.
Index Moving Averages: 7/26 Close – The Confidence Score moves to 91% from 88%.
The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:15 a.m. EST
Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EST
The President visits the Office of the Director of National Intelligence, where he will address the Intelligence Community workforce and its leadership, 2:20 p.m. EST
None of note today as FOMC meeting.
After the close, the latest NYSE and NASDAQ Short Interest came out for the period ended July 15th and NYSE rose 1.24% while NASDAQ fell -0.65%.
June Durable Goods is due out at 8:30 a.m. EDT and is expected to come in at 2.1% from 2.3% in May.
July Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 124.50 from 127.20.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.
$61 Billion Auction of 5 Year Treasuries.
Independence Realty Trust (IRT) and Steadfast Apartment REIT (STAR) to merge.
Meetings of Note:
Sellside Conferences: None of note
Company Meetings: TSHA GVDNY(Investor Day) UBX (Conference Call)
Industry Meetings: Alzheimer’s Association International Conference (7/26-30) Green Energy and Precious Metals Investor Conference (7/27-29)
Upgrades & Downgrades: Today recs see 18 upgrades and 2 downgrades.