Overnight Summary- Markets are strong in Europe, U.S. and Asia (mostly) despite a threat that China will try to break up Alipay which is owned by Alibaba (BABA).
Breaking News –
Earnings Out After The Close
Beats: None of note.
Flat: None of note.
Misses: None of note.
IPOs Priced or News:
New SPACs launched: Qell Acquisition (QELL) to merge with Lilum GmbH to start trading tomorrow.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: MIMO LTRX AVTR LESL APG of note.
Selling Shareholders of note: GSM ASPN REPH HGV of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: FRLN REKR EJH of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: COIN 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:
Key Story Afterhours:
Assets Under Mgmt (AUM) continue to role in with reports from APAM and LAZ.
U.S. proposed a offer to the EU to resolve dispute over steel tariffs. (Bloomberg)
Comercia (CMA) provides slide presentation on loans and pipeline, very stable.
Austria rating of stable confirmed by major rating agency.
KeyCorp (KEY) sells its indirect auto loan portfolio.
Barron’s +SIVB SAM DHI MTH MDC MEC and -/+ on RKLB and CSCO.
Dividend Increases: STOR VAC
Higher Guidance: (After the Close) of note (This Morning) of note
Mixed Guidance:(After The Close) of note (This Morning) None of note
Lower Guidance:(After The Close) None of note (This Morning) NUVA of note
Buyback Announcements: QSR KEY BWMX VAC
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +26 Dow Jones Industrial Average +203 NASDAQ +84 Russell 2000 +21. Fair values are mixed. Asia mixed and Europe higher. VIX is at 21.32 from 21.05 in futures from Friday. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $133.23 from $133.27 with yields at 1.329% from 1.322% Friday morning. Bitcoin at $44,820 from $46,464 on Friday morning, trading at $-1,061 or -2.31%.
Friday’s Action – 9/10 Close.
Positive Sectors Friday: Energy of note.
Negative Sectors Friday: Real Estate, Utilities and Communication Services 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, Bonds were lower, U.S. Dollar higher and Commodities lower ex Crude Oil. Updated 9/10 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: ORCL of note.
Tuesday Before the Open: FCEL of note.
Earnings of Note This Morning:
Still to Report: none
Insider Purchases: One name has high short interest with Dumb Short Sellers CSWC. Update 9/13/21
Erlanger Research Advance/Decline Chart –Updated through 9/10 close. The Daily A/D Line continues to struggle and is well back below its August high.
Gap Ups & Down In Early Pre-Market:
Gap up: HEPA +16%, CYTK +15%, REKR +10%, NEGG +6%, GSM +6%, SPRT +4%, HCM +3%
Gap down: MDXG -19%, DVAX -18%, AVTR -5%, LTRX -4%, EJH -4%, LESL -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 $1.099 trillion in Friday’s late afternoon report.
Covid-19 Data sees 36,953 from 184,008 cases. Deaths 250 from 2,202. Through 9/12. Weekend see partial reporting should move higher tomorrow.
Chinese regulators calling for internet companies to open platforms to rivals.
The Senate is back in session this week.
Senator Joe Manchin (D-WV) says that the $3.5 trillion budget reconciliation bill will have to be about have that size. (The Hill)
Intel (INTC) lowers server CPU prices. (DigiTimes)
Kansas City Southern (KSU) receives a “superior proposal” from Canadian Pacific (CP).
Moving Average Update
Score at 33% from 50%. Updated 9/10 Close.
The President departs Wilmington, Delaware en route Joint Base Andrews en route Boise, Idaho, 8:10 a.m. EST
The President arrives in Boise, Idaho (11:50 AM Local), 1:50 p.m. EST
The President receives a briefing from Federal and state fire agency officials (12:15 PM Local), 2:15 p.m. EST
The President visits the National Interagency Fire Center (12:55 PM Local), 2:55 p.m. EST
The President departs Boise, Idaho en route Mather, California (1:55 PM Local), 3:55 p.m. EST
The President receives a briefing from local, state, and Federal emergency response personnel on the impacts of recent wildfires (2:40 PM Local), 5:40 p.m. EST
The President surveys damage from the Caldor Fire by taking an aerial tour of hard hit communities in El Dorado County (3:25 PM Local), 6:25 p.m. EST
The President delivers remarks on his Administration’s response to recent wildfires, and how the investments he is proposing in the Bipartisan Infrastructure Deal and Build Back Better Agenda will strengthen our nation’s resilience to climate change and extreme weather events (4:25 PM Local), 7:25 p.m. EST
The President departs Mather, California en route Long Beach, California (4:55 PM Local), 7:55 p.m. EST
The President arrives in Long Beach, California (6:15 PM Local), 9:15 p.m. EST
The President delivers remarks at a campaign rally with Governor Gavin Newsom (7:00 PM Local), 10:00 p.m. EST
None of note for today or this week but that is subject to change.
The latest NYSE and NASDAQ Short Interest Data was due out after the Friday close of trading and ran from August 11th through August 27th. During this period, the S&P 500 rose 1.39%. NYSE Short Data fell by -0.15% and NASDAQ rose by 0.21%.
TransUnion (TRU) to buy Neustar for $3.1 billion in cash.
Stanley Black & Decker (SWK) to buy Excel Industries for $375 million in cash.
Trane (TT) to buy Farrar Scientific for $250 million.
Meeting & Conferences of Note:
Sellside Conferences: Piper Sandler Technology Conference (9/9-14) Morgan Stanley Healthcare Conference (9/9-16) Morgan Stanley Annual Laguna Conference (9/10-15) Citi Global Tech Conference (9/13-15) Deutsche Bank Annual Aircraft Finance & Leasing Conference & Airline One on One Day (9/13-14)Barclays Global Financial Services Conference (9/13-15) Credit Suisse Global Basic Materials Conference (9/13-14) JP Morgan Gaming, Lodging, Restaurant and Leisure Conference (9/13-14) UBS Global Energy Transition Virtual Conference (9/13-16) BMO Real Assets Conference ((9/13-14) Raymond James Sustainability Conference (9/13-14) Morgan Stanley Latin America Conference (9/13-16) JP Morgan Las Vegas Conference (9/13) Cowen Health, Wellness and Beauty Conference (9/13-14) Bank of America Media, Communications and Entertainment Conference (9/13-14) Jefferies Home Retail Summit (9/13)
Company Meetings: ZM GBLI PANW KOP (Investor Meetings) HEPA CYTK (Conference Call) FDX (Update)
Conferences of Note: American Urological Association Meeting (9/10-13)
Upgrades & Downgrades: Today recs see 10 notable upgrades and 6 downgrades.
Friday Recommendations Of Note