Breaking News: Monthly Jobs Data rises 235,000 missing estimates
Earnings Out After The Close
Beats: OXM +0.90, SAIC +0.51, MDB +0.16, COO +0.12, GWRE +0.12, DOCU +0.07, HPE +0.05, AVGO +0.05, OOMA +0.04, PD +0.02, YEXT +0.01
Misses: JOAN (0.07), NX (0.02), MDLA (0.01)
IPOs Priced or News: None of note.
New SPACs launched: Genesis Park Acquisition Corp (GNPK) merges with Redwire and will begin to trade as RDW today.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: SGOC CERT BGRY LQDA of note.
Selling Shareholders of note: SNX of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: 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:
NASDAQ (NDAQ) traded 247 million equity options contracts versus 243 million in July and 215 million in 2020.
Redditt looking for bankers to IPO company.
fuboTV (FUBO) gets a mobile gaming license in Arizona.
Eli Lilly (LLY) to get approval for distribution of their antibody therapy for Covid-19. (Bloomberg)
After Hours: + APOP +52% MDB +12% PD +11% OXM +7% OOMA +6% GWRE +6% and – FBRE -82% YEXT -11% JOAN -10% LAW -6% SGOC -4%
Dividend Increases: CSWC
Higher Guidance: (After the Close) AVGO DOCU OOMA OXM SAIC (This Morning) None of note
Mixed Guidance: (After The Close) COO GWRE MDB PD YEXT (This Morning) None of note
Lower Guidance:(After The Close) None of note (This Morning) None of note
Buyback Announcements: CATY ASH
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +2 Dow Jones Industrial Average -29 NASDAQ +46 Russell 2000 +5.38. Fair values are mixed. Asia and Europe mixed. VIX is at 18.20 from 17.99in futures. VIX closed at 16.41 from 16.11 . Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $133.53 from $133.63 with yields at 1.297% from 1.287% yesterday morning. Bitcoin at $50,691 from $50,117 yesterday morning, trading at $1259 or +2.55%.
Thursday’s Action – 9/2 Close.
Positive Sectors Yesterday: Energy, Healthcare and Industrials of note.
Negative Sectors Yesterday: Communication Services, Materials and Consumer Cyclical of note.
One Month Winners: Communication Services, Technology and Financials of note.
Three Month Winners: Technology, Communication Services and Healthcare of note.
Six Month Winners: Communication Services, Technology and Real Estate of note.
Twelve Month Winners: Communication Services, Financials, Industrials and Energy of note.
Year to Date: Energy, Communication Services, Energy, Financials, Real Estate and Technology of note.
Stocks were mostly higher ex NASDAQ 100, Bonds were higher, U.S. Dollar lower and Commodities mixed. Updated 9/2 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: None of note.
Tuesday Before the Open: EDU of note.
Earnings of Note This Morning:
Still to Report: none
Insider Purchases: One name has high short interest with Dumb Short Sellers PCG and one with no history GDRX. Update 9/3/21
Erlanger Research Advance/Decline Chart –Updated through 9/2 close. The Daily A/D Line blew past the mid August high yesterday.
Gap Ups & Down In Early Pre-Market:
Gap up: APOP +54%, PD +14%, MDB +13%, GWRE +8%, OXM +7%, CTLP +5%, SAIC +3%
Gap down: FBRX -81%, JOAN -12%, YEXT -12%, LAW -8%, NX -7%, SGOC -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Overnight Repo comes in at $1.066 trillion in yesterday’s late afternoon report.
Covid-19 Data sees 171,123 cases versus 153,572 cases. 91,590 hospitalizations versus 85,611. Deaths 1,328 versus 1,138.
Tesla (TSLA) Cybertruck delayed until 2022. (Electrek)
JD.com (JD) pulls sale of 87 games which is a – for ATVI ERTS NTDOY TTWO.
Robinhood Snaps looks at Facebook (FB) fines. American Eagle (AEOS) falls on strong sales but misses estimates.
Moving Average Update
Score at 100% still. Updated 9/2 Close.
The President receives the President’s Daily Brief, 9:00 a.m. EST
The President delivers remarks on the August jobs report, 10:00 a.m. EST
The President departs the White House en route Joint Base Andrews en route New Orleans, Louisiana, 10:30 a.m. EST
The President receives a briefing from local leaders on the impacts of Hurricane Ida, 2:15 p.m. EST
The President tours a neighborhood in LaPlace, Louisiana and delivers remarks on his Administration’s response to Hurricane Ida, 3:35 p.m. EST
The President inspects the damage from Hurricane Ida by taking an aerial tour of hard hit communities, including Laffite, Grand Isle, Port Fourchon and Lafourche Parish, 4:55 p.m. EST
The President meets with local leaders from impacted communities, 6:00 p.m. EST
The President departs Lafourche Parish, Louisiana en route New Orleans, Louisiana, 6:40 p.m. EST
The President departs New Orleans, Louisiana en route Philadelphia, Pennsylvania, 7:10 p.m. EST
The President arrives in Philadelphia, Pennsylvania, 9:35 p.m. EST
The President departs Philadelphia, Pennsylvania en route Wilmington, Delaware, 9:55 p.m. EST
The President arrives in Wilmington, Delaware, 10:10 p.m. EST
August Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to fall to 750,00 from 943,000. The unemployment rate is expected to fall to 5.2% from 5.4%.
August ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 62% from 64%.
Meeting & Conferences of Note:
Sellside Conferences: Citi Korea Corporate Day (9/1-3) Morgan Stanley Asian TMT Conference (9/1-3) Deutsche Bank dbAccess European TMTConference (9/2-3) UBS China Telco, Media & Internet Conference (9/2-3)
Company Meetings: None of note
Conferences of Note: None of note.
Upgrades & Downgrades: Today recs see 5 notable upgrades and 1 downgrade.
Thursday Recommendations Of Note