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"CAPIS Morning Note – 8/20/21: Futures Lower To End The Week, August Options Expiration Today"

posted by CAPIS on 08/20/2021 at 8:44 am

by CAPIS

08/20/2021 at 8:44 am

Earnings Out After The Close:

 Beats: ROST +0.43, AMAT +0.12, FTCH +0.04, ATGE +0.01

 Flat: None

 Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched:

Secondaries Priced:  PROG of note.

Notes Priced of note:  None of note.

Common Stock filings:  PROG HEXO DOMA of note.

Selling Shareholders of note: DOMA of note.

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

Mixed Shelf Offerings:  RADA NCNA 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:

Adobe (ADBE) buys Frame.io for $1.275 billion.

Major League Baseball ends baseball card deal with Topps and gives to privately held Fanatics. Negative for Mudrick Capital Acquisition Corp (MUDS) that is in process of buying Topps. Can you say due diligence?

Parsons (PSN) wins $39 million contract with Lusail Real Estate Development Corp which is in Qatar.

Sorrento (SRNE) makes progress on vaccine for Covid-19 variants Delta and Beta.

Charles Schwab (SCHW) give a 5% pay raise to employees.

Southwest Airlines (LUV) reaches a tentative deal with customer service union.

Johnson & Johnson (JNJ) CEO Alex Gorsky moves to Executive Chairman and Joaquin Duato moves to CEO role.

Stitch Fix (SFIX) sees hundreds of employees quit as CEO Elizabeth Spaulding stated worker would no longer be able to pick hours they work. (Buzzfeed)

Granite Construction (GVA) wins $25.7 million contract at Tucson Airport.

After Hours + MRKR +22%  ATGE +7% SRNE +5% FLGC +4% QFIN +4%   and – PROG -30%  HEXO -10% FATE -9% BLND -11% ROST -5%

Dividend Increases: DDS CBOE 

Stock Split:

Higher Guidance:  (After the Close)  (This Morning)

Mixed Guidance: 

Lower Guidance:

Buyback Announcements: WNC CRI CANG QFIN SPOT

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

S&P 500 -15 Dow Jones Industrial Average -151  NASDAQ -2 Russell 2000 -17.  Fair values are mixed. Asia  and Europe lower. VIX is at 22.55 from 22.65  in futures. VIX closed at 21.67 from 21.57. Gold higher with silver lower 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 $134.39 from $134.45  with yields at 1.23% from 1.243%  yesterday morning. Bitcoin at $47069 from $44,450  yesterday morning, trading at $406 or +0.84%.

Thursday’s Action – 8/19 Close.  

Positive Sectors On Thursday: Technology, Consumer Defensive and Utilities of note.

Negative Sectors On Thursday: Materials, Energy 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 mixed, Bonds were higher, U.S. Dollar higher and Commodities lower ex  natural gas. Updated 8/19 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: JD, KOD, UFS, HRTX, AKTS, TAL of note.

Earnings of Note This Morning:

 Beats: FL +1.19, DE +0.74

 Flat: none

 Misses: none

 Still to Report: none

 Insider Purchases:  

We are seeing crazy insider buying the past two days. So we will do a bigger update on Monday morning. Insiders are taking advantage of the selloff .

Erlanger Research Advance/Decline Chart –Updated through 8/19 close. The Daily A/D Line continues to bleed lower.

Gap Ups & Down In Early Pre-Market:

Gap up: MRKR +14%, FGEN +9%, ATGE +6%, SRNE +6%

Gap down: PROG -45%, BLND -14%, HEXO -11%, FATE -9%, MUDS -6%, ROST -5%, NCNA -4%, TLSA -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-19 Data sees 157,694 cases versus 132,384 cases. 76,007 hospitalizations versus 59,172.  Deaths 1,054 versus 664. Deaths finally above 1,000 on a single day.

Overnight Repo comes in at $1.10 trillion.

China passes a new privacy law on social media that is very strict. (WSJ)

President Biden wants Unemployment Benefits to end on 9/6 but that states with high unemployment should use relief funds to help its citizens. (NYT)

A classified State Department cable warned about a collapse of government in Afghanistan on 7/13. (WSJ)

States are split on mask mandates. (NYT)

CDC delays meeting on booster shots amid debate over booster shots. (Bloomberg)

Garth Brooks cancels his next 5 concerts over Delta Variant concerns, new song “If The Concert Never Comes”. (NY Times)

Apple (AAPL) delays return to office to at least January. (Bloomberg)

IBM Corp (IBM) closes NYC offices amid Delta Variant outbreak. (Bloomberg)

Robinhood Snaps look at Facebook (FB) and their door to the metaverse. Seasonal house hype arrives.

Moving Average Update

Score at 33% from 53%.

Geopolitical:

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

The President and The Vice President meet with their national security team to hear intelligence, security, and diplomatic updates on the evolving situation in Afghanistan, Situation Room, 10:45 a.m. EST

The President delivers remarks on remarks on the evacuation of American citizens and their families, SIV applicants and their families, and vulnerable Afghans; The Vice President also attends, East Room, 1:00 p.m. EST

The President departs Washington, DC en route Wilmington, Delaware, Fort Lesley J. McNair, 2:05 p.m. EST

The President arrives in Wilmington, Delaware, 3:00 p.m. EST

Fed Speakers

Federal Reserve Dallas President Robert Kaplan (aka The Hawk) speaks at 11:00 a.m. EDT. Will he throw gasoline on the fire or walk it back?

Economic:

No events of note. A perfect day for a round of golf if it were not for August Options Expiration.

M&A Activity:

Meeting & Conferences of Note:

Sellside Conferences:  JP Morgan Brazil Consumer and Healthcare Checkup 2021 (8/16-20) Benzinga REIT Small Cap Conference (8/20)

Company Meetings:   (Investor/Analyst Meeting) SGBLY (Update) ADIL (Conference Call) 

Conferences of Note:  Society for Vascular Surgery Annual Meeting (8/18-21) Korea Conference (8/20-21)

Upgrades & Downgrades: Today recs see 5 upgrades and 4 downgrades. 

Thursday Recommendations Of Note

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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.