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09.30.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 8/5/21: Stocks Rebound Just Because They Can, Robinhood To Unload Shares To Selling Shareholders"

posted by CAPIS on 08/05/2021 at 8:46 am

by CAPIS

08/05/2021 at 8:46 am

Breaking News: Weekly Jobless Claims at 385,000 matching estimates. Tomorrow Monthly Jobs. Goldman takes 2021 target to 47,000 not that is not right it is 4,700. A day after a pop in the stock, Robinhood (HOOD) is letting selling shareholders unload shares while the company sells no shares.

Earnings Out After The Close:

Beats: IAC +2.36 MCK +1.42 MELI +1.18 UBER +1.11 CPA +0.82 LNC +0.72 MET +0.71 ALL +0.63 WYNN +0.46 of note.

Flat: None of note.

Misses: PDCE -2.12 DCP -0.80 PETQ -0.59 BKNG -0.37 ADT -0.17 CCMP -0.14 YELL -0.12 VZIO -0.02 of note.

Capital Raises: 

IPOs Priced or News: Overallotment exercised in RPID.

New SPACs launched: None of note.

Secondaries Priced: DRVN of note.

Notes Priced of note:  CC of note.

Common Stock filings:  QSR NRIX BBQ of note.

Selling Shareholders of note: ESTE GPRE HOOD of note.

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

Mixed Shelf Offerings:  NRIX KXIN OTIC  of note.

Convertible Offering & Notes Filed: None of note.

Note Offerings Filed:  ATEC  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:

B. Riley (RILY) buys investment advisory business of 272 Capital.

Maxar Technologies (MAXR) wins contract to manufacture new geostationary communications satellite for Sirius XM (SIRI).

Uber (UBER) sees gross bookings up 114%.

Ethan Allen (ETH) to change symbol to ETD.

Costco (COST) sees sales growth of +8% versus last month.

Regeneron (REGN) gets positive review in The New England Journal of Medicine on Pahse 3 Trial that looked at REGEN-COV to prevent Covid-19 transmission in infected households.

U.S. to require foreign visitors to be vaccinated. (Reuters)

MGM Resorts (MGM) reports weekend casino volumes back to normal but weekdays lag.

Dividend Increases: TRNO GPRK

Stock Split:

Higher Guidance: HUBS

Mixed Guidance:

Lower Guidance: FSLY

Buyback Announcements: MET

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

S&P 500 +11 Dow Jones Industrial Average +86 NASDAQ +32 Russell 2000 +7.  Fair values are mixed. Asia higher ex Japan and Europe higher. VIX is at 19.65 from 20.25 in futures. VIX closed at $17.97 from $18.04. Gold and silver higher with 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 $134.88 from $135.17 with yields at 1.174% from 1.182% yesterday morning. Bitcoin at $38117 from $38486 from $38231 yesterday, trading at $-1581 or -3.98%.

Wednesday’s Action – 8/4 Close.  

Positive Sectors On Wednesday:  Technology, Communication Services and Healthcare of note.

Negative Sectors On Wednesday:  Energy, Consumer Defensive, Materials and Industrials 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 mostly lower, Bonds were lower, U.S. Dollar higher and Commodities mixed. Updated 8/4 Close.

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

Thursday After the Close: SQ, ILMN, CVNA, MNST, EOG, AIG, RMD, MSI, IFF, NET, CTVA, ZG, ED, EXPE, AEE, PODD, NVAX, PLUG, CGNX, LNT, AVLR, OTEX, FND, GH, OTLY, ZNGA of note.

Friday Before the Open: D, MGA, VTR, DISH, DKNG, NUAN, IEP, NCLH, DNLI, SRCL, TWST, ESNT, QRTEA, UBSI, GT, SPB of note.

Earnings of Note This Morning:

Beats: REGN +8.09 NRG +3.38 ATH +1.57 SEAS +1.29 BLDR +0.89 AAWW +0.73 W +0.73 MRNA +0.60 GOLF +0.32 CI +0.27 MUR +023

Flat: None of note.

Misses: LNG -2.30 MGLN -0.84 ADNT -0.68 GOGO -0.61 CAH -0.43 CARS -0.33 VIAC -0.02

Still to Report: 

Insider Purchases:  

We see moderate short selling with smart short sellers so this should not be considered as potential buys for ALKS PRG WWD. Updated last 8/5

Erlanger Research Advance/Decline Chart –Updated through 8/4 close. 

Gap Ups & Down In Early Pre-Market:

Gap up: PING +16%, PRTK +14%, SITM +13%, KLIC +12%, STAA +9%, ACLS +9%, YELL +8%, ONEM +8%, RYI +8%, QNST +7%, ECVT +7%, HIMX +6%, IAG +6%, MELI +6%, AHCO +6%, RCII +6%, NFE +5%, GPRK +5%, MED +5%, ELF +5%, TTGT +5%, SRPT +4%, PLYA +4%, CCRN +4%, ESTE +4%, TNK +4%, EPAM +4%, EA +4%, UMC +4%

Gap down: NVRO -29%, FVRR -22%, FSLY -21%, ETSY -13%, MAXR -12%, RVLV -12%, PETQ -11%, LMND -10%, GTN -10%, ROKU -9%, OSPN -8%, INGN -7%, AMED -7%, ACAD -6%, ANGI -6%, GPRE -6%, LPI -5%, ATEC -5%, CDAY -5%, ORA -5%, GDDY -4%, UBER -4%, CCMP -4%, JACK -4%, CENX -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  (CNBC)

Covid-19 Data sees 103,455 cases versus 80,701 cases. 42,938 hospitalizations versus 29,383. Deaths 614 versus 421.

China imposes new travel and movement restrictions as Delta Variant cases rise. (Bloomberg)

Senate $1 trillion bipartisan infrastructure bill will be voted on this weekend. House Speaker Pelosi says will not bring bill to floor unless $3.5 trillion budget reconciliation bill passes.

CVS Corp (CVS) stops offering Johnson & Johnson (JNJ) vaccines at stores. (CNBC)

Robinhood Snaps looks at the digital ad market and legacy media wants in. Video game companies feel heat of China’s video game crackdown.

Index Moving Averages: 8/4 Close – The Confidence Score moves to 57% from 63%.  

Geopolitical:

President Biden receives the daily presidential briefing at 9:30 a.m. EDT.

President Biden meets with Covid-19 Response Team at 11:00 a.m. EDT. Then meets with Asian leaders at 11:30 a.m. EDT.

Press Briefing at 1:00 p.m. EDT with Jen Psaki and Secretary of Education Dr. Miguel Cardona.

President Biden speak at 3:00 p.m. about EV cars and Trucks.

President Biden awards congressional gold medals to four Capitol Police who protected The Capitol on January 6th.

Fed Speakers

Federal Reserve Governor Waller to speak at 10:00 a.m. EDT.

Economic:

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

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

M&A Activity:

Evolent Health (EVH) to buy WindRoses’s unit Vital Decisions for $85 million.

Meeting & Conferences of Note:

Sellside Conferences: Credit Suisse Disruptive Business Conference (8/2-6) Keefe Woods & Bruyette Community Bank Investor Conference (8/3-5)

Company Meetings: SA (Webinar) ON FYBR LMT GRBK (Investor Event) VERB (Fireside Chat)

Upgrades & Downgrades: Today recs see 9 upgrades and 1 downgrade. 

Wednesday Recs

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