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"CAPIS Morning Note – 8/23/21: Stocks Higher To Start The Week"

posted by CAPIS on 08/23/2021 at 8:51 am

by CAPIS

08/23/2021 at 8:51 am

Earnings Out After The Close:

 Beats: None of note

 Flat: None of note

 Misses: None of note

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: NextGen (NCGA) enters into a deal with Vieco USA  to trade under VORB.

Secondaries Priced:  None of note.

Notes Priced of note:  None of note.

Common Stock filings:  MVST BGRY  of note.

Selling Shareholders of note: ASC  MVST BGRY FFIE of note.

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

Mixed Shelf Offerings:  ASC SVC LKCO LOOP GAN 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:

Nexstar (NXST) buys The Hill for $130 million.

City Office REIT (CIO) to sell holdings in SOrrento Mesa submarket of San Diego for $576 million.

General Motors (GM) expands Chevy Bolt EV recall at a cost of $1 billion to replace defective battery modules.

FDA may approve Pfizer (PFE) Covid-19 vaccine on Monday. (NYT)

Barron’s + on AAPL MSFT GOOG FB AMZN STEM JEF INTC TSM BOX.

Dividend Increases: AFG CABO 

Stock Split:

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

Mixed Guidance: 

Lower Guidance:

Buyback Announcements: ALL

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

S&P 500 +15 Dow Jones Industrial Average +160  NASDAQ +43 Russell 2000 +17.  Fair values are mixed. Asia  and Europe higher. VIX is at +20.01 from 22.55 in futures. VIX closed at 18.56 from 21.67. 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 higher vs Yen. US 10 year Treasury price is at $134.03 from $134.39 with yields at 1.26% from 1.23% yesterday morning. Bitcoin at$50,440 from $47069 on Friday morning, trading at $1812 or +3.73%.

Friday’s Action – 8/20 Close.  

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

Negative Sectors On Friday: None 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 were higher, U.S. Dollar lower and Commodities lower ex  Gold. Updated 8/20 Close.

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

Today After the Close: PANW, GBDC, SYKE of note.

Tuesday Before the Open: MDT, BMO, BBY, AAP, EDU of note.

 Earnings of Note This Morning:

Beats: JD +0.67

Flat: none

Misses: MSGE (1.67)

Still to Report: None

 Insider Purchases:  

Erlanger Research Advance/Decline Chart –Updated through 8/20 close. The Daily A/D Line had a dead cat bounce on Friday. More follow through today.

Gap Ups & Down In Early Pre-Market:

Gap up: CIO +23%, AXSM +20%, EDIT +7%, BNTX +6%, BTBT +6%, MVST +4%, PFE +3%, LXRX +3%

Gap down: None of note.

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)

Overnight Repo comes in at $1.10 trillion.

Covid-19 Data sees 157,450 cases versus 140,144 cases. 79,310 hospitalizations versus 66,428.  Deaths 1,120 versus 804. Deaths above 1,000 for second day in a row.

House to vote on $1 trillion bipartisan infrastructure bill that passed the Senate and the House’s $3.5 trillion budget resolution. (WSJ)

Some Democrats to vote against the budget resolution unless the infrastructure bill is passed first. (The Washington Post)

House Speaker may delay the infrastructure bill to later in the year. Will try to attach the Voting Rights Bill to the budget resolution.  (Bloomberg)

U.S. Delta Variant cases may have hit a peak but deaths will lag and not peak for a while. (IHME Model)

U.S. states that their a threats from ISIS at the Kabul Airport in addition to Taliban threats. (NYT)

President Biden may push the August 31st deadline for removing U.S. troops from Afghanistan. (NYT)

Federal Reserve is working on a digital currency. (NY Post)

CDC says that elderly people should not take cruises right now. (USA Today)

Disney (DIS) revenues for Black Widow online are at $125 million. (Reuters)

Boeing (BA) to invest in Virgin Orbit as part of a $3.2  billion SPAC. (WSJ)

Employees may not want to return to the office. (WSJ)

Robinhood Snaps look at Apple (AAPL) and Tim Cook in the driver’s seat the last 10 years. Week ahead review.

Moving Average Update

Score at 63% from 33%.

Geopolitical:

The President receives the President’s Daily Brief, The White House, 9:30 a.m. EST

The President meets with his national security team to hear intelligence, security, and diplomatic updates on the evolving situation in Afghanistan, Situation Room, 10:00 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 2:00 p.m. EST

The President welcomes the Seattle Storm to the White House to honor the team for their 2020 WNBA Championship, East Room, 3:30 p.m. EST

Fed Speakers

None of note scheduled but watch for impromptu appearances.

Economic:

July Existing Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 5.85 million from 5.86 million.

M&A Activity:

Pfizer (PFE) to buy Trillium Therapeutics (TRIL) for $18.50 a share.

KAR Auction Services (KAR) to buy CARWAVE  for $450 million.

Meeting & Conferences of Note:

Sellside Conferences: Credit Suisse Agribusiness & Foods Conference (8/23-25)

Company Meetings:   None of note.

Conferences of Note: SEMICON Asia (8/23-27) NIADA Expo & Conference (8/23-26)

Upgrades & Downgrades: Today recs see 6 upgrades and 1 downgrades. 

Friday Recommendations Of Note

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