Overnight Summary- Europe is lower and Asia mixed as markets nervous over CPI this morning.
Breaking News – CPI came in up +0.3% versus expectations of 0.4%.
Weekly Chart of SPY– Sees negative volume (EVS), negative EC Spread (Trigger Indicator) and ETD (Trigger Indicator) in Pullback. The Weekly DMA Channel which is the Channel in the price chart is still in good shape.
Earnings Out After The Close
Beats: ORCL +0.06
IPOs Priced or News: Sportsradar Group (SRAD) priced at $27 a share. Range was $25 to $28.
New SPACs launched:
Secondaries Priced: LSI AVTR OPEN of note.
Notes Priced of note: PRCH of note.
Common Stock filings: LSI MP PAR of note.
Selling Shareholders of note: OPEN FIGS of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: PAR 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:
Great Lakes Dredge & Dock (GLDD) wins several dredging contracts total value $261.3 million.
Vimeo (VMEO) sees subscribers up 15% year over year.
Viacom (VIAC) sees Brian Robbins named new CEO of Paramount Pictures.
Interactive (IAC) and it spinoff Angi Inc. (ANGI) report monthly numbers.
Toll Brothers (TOL) names Robert Parahus as President & COO as of 11/1.
Rexford Industrial Realty (REXR) to buy four properties totaling $250.5 million.
Assets Under Management (AUM) reported at IVZ, AB, VCTR,
Southwest Air (LUV) President Tom Nealon to retire immediately, will serve as a strategic advisor.
Fox Corporation (FOXA) buys TMZ from AT&T.
Lockheed Martin (LMT) wins Navy contracts at $2.0 billion and $410 million.
Key Story Afterhours: Oracle (ORCL) reports and is modestly lower -2%.
After Hours Action: Stocks Higher and Stocks Lower
Dividend Increases: KRC RWT
Higher Guidance: (After the Close) None of note (This Morning) of note
Mixed Guidance:(After The Close) ORCL of note (This Morning) None of note
Lower Guidance:(After The Close) None of note (This Morning) of note
Buyback Announcements: QSR KEY BWMX VAC
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +17 Dow Jones Industrial Average +133 NASDAQ +60 Russell 2000 +15. Fair values are mixed. Asia mixed and Europe lower. VIX is at 21.65 from 21.32 in futures from yesterday. Gold, silver and copper lower. 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 $133.16 from $133.23 with yields at $1.339% from 1.329% yesterday morning. Bitcoin at $46,037.75 from $44,820 yesterday morning, trading at $1,294 or 2.92%.
Monday’s Action – 9/13 Close.
Positive Sectors Monday: Energy, Financials and Real Estate of note.
Negative Sectors Monday: Healthcare of note.
One Month Winners: Technology, Communication Services, Real Estate and Energy of note.
Three Month Winners: Technology, Communication Services and Healthcare of note.
Six Month Winners: Technology, Communication Services and Real Estate of note.
Twelve Month Winners: Communication Services, Energy, Technology, Financials and Industrials of note.
Year to Date: Energy, Communication Services, Energy, Financials, Real Estate and Technology of note.
Stocks were higher ex the NASDAQ indexes, Bonds were higher, U.S. Dollar flat and Commodities higher. Updated 9/13 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: none of note.
Wednesday Before the Open: JKS of note.
Earnings of Note This Morning:
Still to Report: FCEL
Insider Purchases: Two names have high short interest with Dumb Short Sellers PFGC BNED and no history but heavy shorts VITL GDRX. Update 9/13/21
Erlanger Research Advance/Decline Chart –Updated through 9/13 close. The Daily A/D Line continues to struggle and is well below its August high.
Gap Ups & Down In Early Pre-Market:
Gap up: KERN +9%, NRXP +9%, AVNT +5%, ANGI +4%, GLDD +3%
Gap down: HLF -10%, PAR -6%, OPEN -6%, JAMF -6%, BRP -4%, AVO -4%, MP -3%, LSI -3%
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 +261,128 cases from 36,953 cases. Deaths at 1,725 from 250. Through 9/13.
New lockdowns reported in China. (Bloomberg)
Vonage (VG) exploring a sale. (Bloomberg)
Amazon (AMZN) looks to higher another 125,000.
Amazon (AMZN) ups pay to $18 an hour. (Reuters)
Moving Average Update
Score at 57% from 33%. Updated 9/13 Close.
The President departs Long Beach, California en route Denver, Colorado (10:10 AM Local), 1:10 p.m. EST
The President arrives in Denver, Colorado (1:10 PM Local), 3:10 p.m. EST
The President visits the National Renewable Energy Laboratory, 4:50 p.m. EST
The President delivers remarks underscoring how the investments in his Bipartisan Infrastructure Deal and Build Back Better Agenda will help tackle the climate crisis, modernize our infrastructure, and strengthen our country’s resilience while creating good-paying, union jobs and advancing environmental justice, 5:30 p.m. EST
The President departs Denver, Colorado en route Joint Base Andrews, 7:10 p.m. EST
The President arrives at Joint Base Andrews, 10:10 p.m. EST
The President arrives at the White House, 10:20 p.m. EST
None of note for today or this week but that is subject to change.
August NFIB Small Business Optimism was out at 6:00 a.m. EDT and came in at 100.1 from 99.7 in July.
August CPI is due out at 8:30 a.m. EDT and is expected to fall to 0.4% from 0.5%.
Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Intuit (INTU) buys Mailchimp for $12 billion in cash and stock.
Mesa Laboratoris (MLAB) to buy Agena Bioscience for $300 million.
Spire Global (SPIR) to buy exactEarth for $161.2 million in cash
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) Cowen Health, Wellness and Beauty Conference (9/13-14) Bank of America Media, Communications and Entertainment Conference (9/13-14) CL King Best Ideas Conference (9/14) Baird Global Healthcare Conference (9/14-15) UBS Best of Switzerland Conference (9/14-17) Bank of America Global Defense Forum (9/14) Raymond James Consumer Conference (9/14) Jefferies Software Conference (9/14-15) Morgan Stanley Virtual Video Gaming Symposium (9/14) Needham Virtual Cannabis Conference (9/14)
Company Meetings: CWH RWT REKR HLF CBZ ECL AJG MKTX RHHBY CROX (Investor Meetings) CVX PNFP KERN (Conference Call) AAPL (Corporate Event)
Conferences of Note:
Upgrades & Downgrades: Today recs see 10 notable upgrades and 6 downgrades.
Monday Recommendations Of Note