Overnight Summary- Global market are bouncing back after yesterday’s melt down.
Breaking News – Johnson & Johnson (JNJ) finds their vaccine 94% effective if second dose given two months later. Feels booster at six months will provide same numbers. (CNBC)
Chart of the Week: Russell 2000 Breaks 200 Day Moving Average
Earnings Out After The Close
Flat: LEN 0.00
IPOs Priced or News:
New SPACs launched:
Secondaries Priced: VRDN of note.
Notes Priced of note: None of note.
Common Stock filings: LIFE MCB ROLL VRDN of note.
Selling Shareholders of note: None of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: FLMN PGR of note.
Convertible Offering & Notes Filed: None 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:
SmileDirectClub (SDC) moves into France in Q4.
Sportradar (SRAD) announces that Michael Jordan takes on special advisor role and increases his investment.
Alcoa (AA) restarts Alumar Smelter in Brazil that had been curtailed since 2015.
FedEx (FDX) increasing rates on January 3, 2022.
ConocoPhillips (COP) to buy Royal Dutch Shee Permian Business.
After Hours: Higher APRE +15%, GMAB +5%, OEG +4%, SDC +4% and Lower VRCA -24%, CFMS -7%, ROLL -6%, KAR -3%
Dividend Increases: APA EQBK
Higher Guidance: (After the Close) of note (This Morning) of note
Mixed Guidance:(After The Close) of note (This Morning) of note
Lower Guidance:(After The Close) of note (This Morning) of note
Buyback Announcements: VIAV
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +32 Dow Jones Industrial Average +246 NASDAQ +111 Russell 2000 +22. Fair values are mixed. Asia higher ex Japan and Europe higher. VIX is at 23.55 from 24.05 in futures from Friday. Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $133.14 unchanged with yields at 1.324% from 1.31% yesterday morning. Bitcoin at $43,288 from $42,906 yesterday morning, trading at $-277 or -0.64%.
Monday’s Action – 9/20 Close.
Positive Sectors Monday: None of note.
Negative Sectors Friday: Consumer Cyclical, Energy, Materials 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 higher and Commodities mostly lower. Updated 9/20 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: ADBE, FDX, SFIX of note.
Wednesday Before the Open: GIS of note.
Earnings of Note This Morning:
Misses: APOG (0.01)
Still to Report: CBRL, NEOG
Erlanger Research Advance/Decline Chart –Updated through 9/20 close. Close to breaking the August lows.
Gap Ups & Down In Early Pre-Market:
Gap up: VRDN +17%, APRE +13%, OEG +5%, RDS.A +5%, SGEN +3%, TECK +3%
Gap down: VRCA -30%, ROLL -6%, CFMS -6%, LEN -3%, KAR -3%
Insider Action: Of note see Insider buying with Dumb short selling. 9/21/21
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 $1.118 trillion in yesterday’s late afternoon report.
Covid-19 Data sees +154,513 from +162,179 cases. Deaths at 2,087 from 1,860 deaths. Hospitalizations 83,829 from 89,211. Through 9/17.
The Bank of Japan (BOJ) was out with its latest rate decision and
Evergrande Chairman believes the company will “walk out of its darkest moment”. (Reuters)
Canadian Prime Minister Justin Trudeau wins snap election. (Bloomberg)
House does not have the votes for Infrastructure Bill. (CNN)
Robinhood (HOOD) testing cryptocurrency wallets. (Bloomberg)
Robinhood Snaps looks at Evergrande debacle. Netflix (NFLX) dominates at Emmys.
Moving Average Update
Score at 16% from 57%. Updated 9/20 Close.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.
The President delivers remarks before the 76th Session of the United Nations General Assembly, 10:00 a.m. EST
The President participates in a bilateral meeting with The Honorable Scott Morrison MP, Prime Minister of Australia, 12:00 p.m. EST
The President departs Manhattan, New York, 2:15 p.m. EST
The President departs New York, New York en route Joint Base Andrews, 2:45 p.m. EST
Press Secretary Jen Psaki will speak aboard Air Force One en route Joint Base Andrews, 3:05 p.m. EST
The President arrives at Joint Base Andrews, 3:35 p.m. EST
The President arrives at The White House, 3:55 p.m. EST
The President participates in a bilateral meeting with The Right Honorable Boris Johnson, M.P., Prime Minister of the United Kingdom of Great Britain and Northern Ireland, 4:45 p.m. EST
None of note for today due to FOMC Meeting.
August Housing Starts are due out at 8:30 a.m. EDT and is expected to fall to 1,560,000 from 1,534,000 in July.
20 Year Treasury Auction at 1:00 p.m.
Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Silgan Holdings (SLGN) to buy Gateway Plastics for $485 million.
US Bancorp (USB) to buy MUFG Union Bank for $8 billion.
Meeting & Conferences of Note:
Sellside Conferences: Bank of America Real Estate Conference (9/20 -23) Oppenheimer Fall Healthcare Life Sciences & Med Tech Summit (9/20-23) Baader Investment Conference (9/20-22) Goldman Sachs Communicopia Conference (9/21-23) Bank of America Annual Financials CEO Conference (9/21-23) JP Morgan Emerging Market Credit Conference (9/21-23) Credit Suiss Virtual Consumer Conference (9/21-22) Jefferies Materials Conference (9/21) Citi PCA Annual Consumer Disruptive Growth Conference (9/21) SVB Leerink CybeRX Series (9/21-23) Evercore ISI Autotech & AI Forum (9/21-22) KBW Virtual Title Day (9/21) JP Morgan India Investor Summit (9/21-22) RBC Corporate, Energy and Power Infrastructure Conference (9/21-23) Bank of America Industrial Software & Automation Summit (9/21-23)
Company Meetings: WDAY PEN KAR ARNA BIIB BV EVRG (Investor Meetings) COP (Conference Call) CDTX VECT (R&D Day) KULR (Corporate Event)
Conferences of Note: International Parkinson and Movement Disorder Society Annual Congress (9/17-22)
Upgrades & Downgrades: Today recs see 14 notable upgrade and 1 downgrade.
Monday Recommendations of Note: