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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 -9/22/21: Stocks Higher Into FOMC Today"

posted by CAPIS on 09/22/2021 at 8:45 am

by CAPIS

09/22/2021 at 8:45 am

Overnight Summary- Global market are higher in anticipation of easy policy continuing from the Federal Reserve today.

Breaking News – Fed preview. (CNBC)

Earnings Out After The Close

Beats: SFIX +0.31, ADBE +0.09

Flat: None

Misses: FDX (0.20)

Capital Raises: 

IPOs Priced or News: a.k.a. Brands (AKA) priced at $11 a share well below range of $17 to $19. 

New SPACs launched: 

Secondaries Priced:  ROLL BILL of note.

Notes Priced of note: SBRA of note.

Common Stock filings: LPTX SAFE H WMG ATAX CLXT GECC RSLS of note.

Selling Shareholders of note: None of note.

Private Placement of Public Entity (PIPE): SAFE  of note.

Mixed Shelf Offerings:   None of note.

Convertible Offering & Notes Filed:  None of note.

Note Offerings Filed: BILL  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:

FDA approves Incyte’s (INCY) Opzelura cream for mild to moderate atopic dermattitis.

Dave & Buster’s (PLAY) CEO Brian A. Jenkins to retire. (PLAY)

Macy’s (M) to hire 76,000 full and part time employees for holiday season and beyond.

Radian Group Home (RDN) Price Index rose 13.2% annualized over the last six months.

After Hours:  Higher: SFIX +13%  and Lower: SMMT -19%  LPTX -12% BDSI -6% NOTV -5%  FDX -4% ADBE -4% INCY -4%

Dividend Increases: TSE JPM 

Stock Split: 

Buyback Announcements: 

Higher Guidance:  (After the Close) ADBE of note (This Morning)  of note

Mixed Guidance:(After The Close)  of note  (This Morning) of note

Lower Guidance:(After The Close) SFIX FDX of note (This Morning)  of note

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

S&P 500 +24 Dow Jones Industrial Average +206 NASDAQ +63  Russell 2000 +16.622. Fair values are mixed. Asia higher ex Japan and Europe higher. VIX is at 23 from 23.55 in futures  from Friday. Gold lower with silver and  copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $133.14 unchanged for a second day with yields at 1.326% from 1.324% yesterday morning. Bitcoin at $42,136 from $43,288  yesterday morning, trading at $+20 or+0.05%.

Tuesday’s Action – 9/21 Close.  

Positive Sectors Tuesday: Energy, Healthcare and Technology of note.

Negative Sectors  Tuesday: Materials, Utilities and Communication Services 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 mixed, Bonds were lower, U.S. Dollar lower and Commodities mixed. Updated 9/21 Close.

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

Today After the Close: KBH, FUL, SCS of note.

Thursday Before the Open: ACN, CCL, DRI, DAVA, RAD of note.

Earnings of Note This Morning:

Beats: GIS +0.10

Flat: None

Misses: None

Still to Report: None

Erlanger Research Advance/Decline Chart –Updated through 9/21 close. Close to breaking the August lows.

Gap Ups & Down In Early Pre-Market:

Gap up: SFIX +16%, BLUE +6%, ENLV +5%, RKLB +5%, AMWL +5%, XAIR +3%

Gap down: SMMT -20%, LPTX -12%, ABEO -6%, FDX -6%, NOTV -5%, BDSI -4%, TIXT -4%, ADBE -3%, H -3%, INNV -3%, JCOM -3%, SAFE -3%

Insider Action: Of note, UIHC sees Insider buying with no history of short selling and smart short sellers in ALPN. 9/22/21

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 GIS FDX ADBE  (CNBC)

5 Things to Know About Today’s Open. (CNBC)

Overnight Repo comes in at $1.224 trillion in yesterday’s late afternoon report.

Evergrande Group in China met first interest payment. (CNN)

China will stop building coal plants overseas. (NYT)

Covid-19 Data sees +91,205 from +126,083 cases. Deaths at 1,334 from 989 deaths. Hospitalizations 83,998 from 90,651. Through 9/21.

House passed spending bill to keep government going on party lines 220-211 to fund through 12/3 and to suspend the debt ceiling from 12/16/2022. Will be shot down in the Senate as need 60 votes.

Infrastructure Bill is also dead on arrival in the House as Progressive  will block passage next Monday unless Senate passes the $3.5 trillion Budget Reconciliation Bill, not going to happen. (NBC News)

Department of Justice blocks alliance between American (AAL) and JetBlue (JBLU).

Robinhood Snaps looks at Universal Music goes public on the Amsterdam Stock Exchange with a $53 billion market cap. Volkswagen goes subscription service.

Moving Average Update

Score at 16% unchanged. Updated 9/21 Close.

Geopolitical:

The President receives the President’s Daily Brief, 9:15 a.m. EST

The President convenes a virtual COVID Summit on the margins of the United Nations General Assembly, Oval Office, Closed Press, 11:00 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EST 

The President will also meet with Senate Majority Leader Schumer and House Speaker Pelosi but time not given.

The latest FOMC Rate Decision is due out at 2:00 p.m. EDT and no change is expected.

Fed Speakers:

None of note for today due to FOMC Meeting and Press Conference.

Economic:

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

Weekly MBA Mortgage Applications were out at 7:00 a.m. EDT and came in with a jump of 4.9%.

August Existing Home Sales are due out at 10:00 a.m. EDT and expected to fall to 5.86 million from 5.99 million.

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

M&A Activity:

Veritex Holdings (VBTX) to buy North Avenue Capital, LLC for $57 million.

Celestica (CLS) buys PCI Limited for $306 million.

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 Suisse Virtual Consumer Conference (9/21-22) SVB Leerink CybeRX Series (9/21-23) Evercore ISI Autotech & AI Forum (9/21-22) 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) Sidoti & Co Fall Small Cap Investor Conference (9/22-23) Wells Fargo Consumer Conference (9/22-23) D.A. Davidson Diversified Industrials And Services Conference (9/22-23) Stephens Annual Bank CEO Forum (9/22) BMO Digital Banking Summit (9/22) CIBC Eastern Institutional Investor Conference (9/22-23) Morgan Stanley Utilities And Clean Energy Summit (9/22)

Company Meetings:  YUMC EXK WY SPT WPM BSX HVT (Investor Meetings)  BBDC CLS (Conference Call) ZLAB  (R&D Day) DD MSFT (Corporate Event) FREE TSHA (Webinar)

Conferences of Note: International Parkinson and Movement Disorder Society Annual Congress (9/17-22)

Upgrades & Downgrades: Today recs see 9 notable upgrades and 2 downgrades. 

Tuesday Recommendations of Note:

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