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10.21.2021 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 9/15/21: Stocks Now Mixed After Being Higher Overnight"

posted by CAPIS on 09/15/2021 at 8:50 am

by CAPIS

09/15/2021 at 8:50 am

Overnight Summary- Markets trying to move beyond “perceived poor China Industrial Production” that missed estimates of 5.8% with 5.3%.

Breaking News – Treasury Report shows that U.S. Childcare overburdens families and causes worker shortages. President Biden to discuss at 4:00 p.m. EDT.

Earnings Out After The Close

Beats: None

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: Dutch Bros (BROS) priced at $23 a share. Range was $18 to $20. Procept (PRCT) priced at $25 with range of $22 to $24. DICE Therapeutics (DICE) priced at $17 at high end of range  of $15 to $17. Tyra Biosciences (TYRA) priced at $16 with range of $14 to $16. On (ONON) priced at $24 above range of $20 to $22.

New SPACs launched: Greenidge Gerneation Holdings (GREE) to merge with Support.com (SPRT) and trade as GREE

Secondaries Priced:  ASO BRP PAR LYV LAW LESL APG  of note.

Notes Priced of note: JAMF PAR of note.

Common Stock filings: AVTX  HUT PMTS LYV AGIL ROVR of note.

Selling Shareholders of note: PMTS AGIL ROVR ELY of note.

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

Mixed Shelf Offerings:  None of note.

Convertible Offering & Notes Filed:  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:

Raytheon (RTX) to buy SEAKR Engineering, no terms.

International Paper (IP) announces spin-off of Sylvamo with holders as of today and spin on October 1st.

Yum China (YUMC) updates guidance and notes business impacted by Delta Variant in 16 provinces. Operating profit down 50-60% in Q3.

Microsoft (MSFT) raises dividend 11% and ups buyback by $60 billion.

Regeneron Pharma (REGN) wins a $2.9 billion Army contract. Also, gets agreement with U.S. government for 1.4 million additional doses of their cocktail.

Key Story Afterhours: 

After Hours Action: Stocks Higher  SKIL +5% TRTX +4%  and Stocks Lower AVTX -16% HUT -11% PMTS -10%.

Dividend Increases: TRTX AFG (Special) USB MSFT IIPR PM 

Stock Split: 

Higher Guidance:  (After the Close) SKIL 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)  of note

Buyback Announcements: 

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

S&P 500 +2 Dow Jones Industrial Average -38 NASDAQ +25  Russell 2000 -0.05. Fair values are mixed. Asia mixed and Europe lower. VIX is at 21.65 from 21.32  in futures  from yesterday. Gold and silver lower with  copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $133.63 from $133.16 with yields at 1.269% from 1.339% yesterday morning. Bitcoin at $47,553 from $46,037.75 yesterday morning, trading at $1,040 or 2.24%.

Tuesday’s Action – 9/14 Close.  

Positive Sectors Tuesday: None of note.

Negative Sectors  Tuesday: Materials, Industrials and Financials 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 lower, Bonds were higher, U.S. Dollar flat and Commodities higher ex Crude Oil. Updated 9/14 Close.

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

Today After the Close: None of note.

Thursday Before the Open: None of note.

Earnings of Note This Morning:

Beats: JKS +1.05

Flat: None

Misses: None

Still to Report: None

Insider Purchases:  Two names have high short interest with Dumb Short Sellers AAT BLL APLT and no history but heavy shorts MCHX. Update 9/15/21

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: OBSV +6.3%, BPTS +6.2%, VICR +4.8%, SKIL +4.5%, IRNT +4.2%, TRTX +3.5%

Gap down: KAVL -29%, TBPH -26.7%, AVTX -14.5%, HUT -11.2%, YUMC -4.8%, LYV -3.3%

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    (CNBC)

Overnight Repo comes in at $1.099 trillion in Friday’s late afternoon report.

Covid-19 Data sees +126,083 cases from 47,728 cases. Deaths at 989 from 242. Hospitalizations 85,613 from 75,472. Through 9/14.

North and South Korea test missiles. (Reuters)

California Governor Gavin Newsom stays in power with over 50% of the vote.

Goldman ups forecast for coal prices in Asia. (Bloomberg)

Pfizer (PFE) seeks to expand trials in younger children. (FT)

Uber (UBER) CTO to leave company. (Reuters)

Toyota (TM) and Nissan (NSANY) are stockpiling semiconductors (Nikkei)

Brookfield Asset Mgmt (BAM) forms a $15 billion private equity fund. (Bloomberg)

Moving Average Update

Score at 30% from 57%. Updated 9/14 Close.

Geopolitical:

 The President receives the President’s Daily Brief, 9:00 a.m. EST

The President hosts a meeting with business leaders and CEOs on the COVID-19 response, 1:30 p.m. EST
The President delivers brief remarks about a national security initiative, 5:00 p.m. EST

Fed Speakers:

None of note for today or this week but that is subject to change.

Economic:

Weekly API Petroleum Institute Data was out at 4:30 p.m. EDT yesterday and across the board there were inventory draws.

August Industrial Production is due out at 9:15 a.m. EDT and expected to fall to 0.4% from 0.9%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

M&A Activity:

Goldman Sachs (GS) to buy GreenSky(GSKY) for $12.11.

Meeting & Conferences of Note:

Sellside Conferences:Morgan Stanley Healthcare Conference (9/9-16)  Morgan Stanley Annual Laguna Conference (9/10-15) Citi Global Tech Conference (9/13-15) Barclays Global Financial Services Conference (9/13-15) UBS Global Energy Transition Virtual Conference (9/13-16) Morgan Stanley Latin America Conference (9/13-16) Cowen Health, Wellness and Beauty Conference (9/13-14) Baird Global Healthcare Conference (9/14-15) UBS Best of Switzerland Conference (9/14-17) Jefferies Software Conference (9/14-15) Bank of America Global Healthcare Conference (9/15-17) Jefferies Fitness & Wellness Summit (9/15) Tudor, Pickering and Holt Natural Gas Conference (9/15)

Company Meetings: ALYA CSCO MGNI FRPH ATHM  (Investor Meetings) MTCR (R&D Day) ANZBY (Update)  MNTV GPC (Webinar) FFIV IBM (Corporate Event)

Conferences of Note:

Upgrades & Downgrades: Today recs see 10 notable upgrades and 6 downgrades. 

Tuesday Recommendations Of Note

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