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09.20.2021 10 new Morning Note posts under Morning Note (10)

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"CAPIS Morning Note – 9/8/21: Stocks Lower, Multiple Deals Announced Today"

posted by CAPIS on 09/08/2021 at 8:45 am

by CAPIS

09/08/2021 at 8:45 am

Chart of the Week: Lululemon Athletica (LULU) chart is seeing some weakness across the board heading into earnings this week.

Earnings Out After The Close

Beats: COUP +0.32, CASY +0.20, SMAR +0.08, PATH +0.07

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: OPCH of note.

Notes Priced of note:   None of note.

Common Stock filings: HLNE COTY  of note.

Selling Shareholders of note: AGL BMBL MRVI OCDX MCFE INMB HLNE GLBE COTY OPCH NGMS   of note.

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

Mixed Shelf Offerings: BHF CODI  of note.

Convertible Offering & Notes Filed:  RADI 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:

Alector (ALEC) sees the COO and the CMO stepping down.

JetBlue (JBLU) names Ursula Hurley as CFO.

After Hours + COUP +5% NNDM +5% AGX +4%  and – PATH -8% COTY -8% MGNX -7% INMB -6% IMPL -5% RADI -4% SMAR -3%

Dividend Increases: LNG LAMR

Stock Split: JAGX (1-3)

Higher Guidance:  (After the Close) COUP of note   (This Morning) GENI KFY ADI of note

Mixed Guidance:(After The Close) SMAR of note  (This Morning)None of note

Lower Guidance:(After The Close) None of note (This Morning) REVG of note

Buyback Announcements: CASH ADI

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

S&P 500 -5 Dow Jones Industrial Average -48  NASDAQ -15  Russell 2000 -7.46.  Fair values are mixed. Asia mixed and Europe lower. VIX is at 21.43 from 18.20 in futures  from yesterday. VIX closed at 18.14 from 16.41 yesterday. 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 $133.14 from $133.05 with yields at 1.353% from 1.36% yesterday morning. Bitcoin at $46,521 from $50,842 yesterday morning, trading at $-355 or -0.76%.

Tuesday’s Action – 9/7 Close.  

Positive Sectors Tuesday: Consumer Cyclical and Communications Services of note.

Negative Sectors  Tuesday: Industrials, Utilities and Consumer Defensive 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 lower ex the NASDAQ indexes, Bonds were lower, U.S. Dollar higher and Commodities lower. Updated 9/7 Close.

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

Today After the Close: LULU, CPRT, RH, GME, DSGX, HQY, ABM, AVAV, CVGW of note.

Thursday Before the Open: FCEL, LOVE of note.

Earnings of Note This Morning:

Beats: KFY +0.30, REVG +0.03

Flat: None

Misses: GENI (2.60)

Still to Report: None

Insider Purchases:  One name has high short interest with Dumb Short Sellers MYOV and one with no history CRCT but high short intensity. Update 9/7/21

Erlanger Research Advance/Decline Chart –Updated through 9/7 close. The Daily A/D Line struggled for a second day and is back below its August high.

Gap Ups & Down In Early Pre-Market:

Gap up: KDMN +77%, COUP +6%, NNDM +4%, CASH +4%, AGX +3%, ASPS +3%, RPM +3%

Gap down: IMPL -7%, COTY -7%, PATH -7%, MRVI -5%, BMBL -5%, RADI -5%, SMAR -5%, OCDX -4%, MGNX -4%, INMB -4%, AGL -4%, OPCH -3%, NIO -3%, NGMS -3%, ALEC -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 COIN TSLA CTRX PYPL  (CNBC)

5 Things To Know Before The Open. (CNBC)

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.

Former ECB President Trichet not sure if ECB will reduce asset purchases tomorrow with its latest update. (Bloomberg)

Elliott Management pushes Citrix (CTXS) to make changes. (WSJ)

United Ground Express (UAL) requires employees to get vaccinated. (Bloomberg)

Coinbase (COIN) gets Wells Notice.

Interactive Brokers (IBKR) loses patent trial verdict against Trading Technologies International but wins with a lower jury award.

Robinhood Snaps looks at El Salvador adopting Bitcoin as currency. America’s aging power grid exposed during Hurricane Ida.

Moving Average Update

Score at 77% from 97%. Updated 9/7 Close.

Geopolitical:

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

The President deliver remarks in honor of labor unions; the Secretary of Labor also attends, East Room, 11:20 a.m. EST

Press Briefing by Press Secretary Jen Psaki, Secretary of Agriculture Tom Vilsack, and Director of the National Economic Council Brian Deese, 2:00 p.m. EST

The President receives a briefing from members of the White House COVID-19 Response Team on the COVID-19 pandemic and the vaccination program, Oval Office, 2:45 p.m. EST

The latest Federal Reserve Beige Book is due out at 2:00 p.m. EDT.

Fed Speakers 

Federal Reserve New York President John Williams will speak at 1:10 p.m. EDT.

Federal Reserve Dallas President Robert Kaplan will speak at 6:00 p.m. EDT.

Economic:

API Petroleum Data is due out at 4:30 p.m. EDT.

MBA Mortgage Applications came out with a drop of -1.9%.

Bank of Canada out with its latest interest rate decision at 9:00 a.m. EDT.

The latest JOLTS number is due out at 10:00 a.m. EDT.

$38 billion of 10 Year Notes auctioned at 1:00 p.m. EDT.

M&A Activity:

Paypal (PYPL) to buy Paidy for $2.7 billion.

Sanofi (SNY) to buy Kadmon Holdings (KDMN) for $9.50 a share.

JP Morgan (JPM) acquires majority of Volkswagen’s payments business.

Vertiv (VRT) to buy E&I Engineering Ireland Ltd. and its affiliate Powerbar Gulf for $1.8 billion plus incentives up to $200 million.

Perrigo (PRGO) to buy Hera SAS for $2.1 billion.

TopBuild (BLD) to buy Distribution International from Advent International for $1 billion.

Meeting & Conferences of Note:

Sellside Conferences: Goldman Sachs Annual Biotech Symposium (9/7) UBS APAC Financial & Fintech Conference (9/7-8) Goldman Sachs Food Forum (9/7-9) Barclays CEO Energy Power Conference (9/8-10) Scotiabank Financials Summit Conference (9/8-9) Barclays Global Consumer Staples Conference (9/8-10) Credit Suisse Annual LatAmEquities Conference (9/8-10) Cowen Global Transportation & Sustainability Conference (9/8-10) Credit Suisse Global Steel And Mining Conference (9/8-10) Citi Annual BioPharma Conference (9/8-10) Goldman Sachs MedTech Conference (9/8-9) Raymond James U.S. Bank Conference (9/8-9) Jefferies Asia Forum (9/8-10) Wolfe Research TMT Conference (9/8-9)

Company Meetings:  RMD DHX JCI SCRYY (Investor Meetings) TLSA GORO ADI INPX (Conference Call) CYDY (Update) CRDF (Data Presentation)  SLQT (Fireside Chat) 

Conferences of Note: PAINWEEK Conference (9/7-11) Precious Metals Summit (9/8-11)

Upgrades & Downgrades: Today recs see 5 notable upgrades and 1 downgrade. 

Tuesday Recommendations Of Note

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