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

Morning Note

News

Morning Note

"CAPIS Morning Note – 10/13/21: JP Morgan Beats, Stocks Higher After Selling Off Again Overnight & California Bans Gas Powered Lawn Equipment"

posted by CAPIS on 10/13/2021 at 8:50 am

by CAPIS

10/13/2021 at 8:50 am

Morning Outlook- Markets are trading higher after the SP 500 again put in a low around 3:30 a.m. EDT. Europe is higher on better numbers from SAP.

Breaking News – Russian President Putin to supply Europe with as much natural gas as it needs. Just as German Chancellor Merkel leaves a policy shift, hmm… CPI comes in +0.4% above estimates of +0.3%.

Earnings Out After The Close

Beats: SGH +0.56, PNFP +0.20

Flat: none

Misses: none

Capital Raises: 

IPOs Priced or News: AvidXchange (AVDX) priced at $25 at high end of range $23 to $25.

New SPACs launched: 

Secondaries Priced: SBRA EFC RLAY BCYC  of note.

Notes Priced of note: of note.

Common Stock filings: SRPT EFC SBRA NAPA   of note.

Pricing of Over-Allotment: 

Direct Offering: 

Selling Shareholders of note:  PYCR MN SNCY STGW of note.

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

Mixed Shelf Offerings:  None  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:

Apple (AAPL) cuts the number of iPhones to be released by 10 million as supply shortage hits the company.

FDA approve e-cigarettes from Vuse.

CRISPER Therapeutics (CRSP) announces Phase I CARBON Trial of CTX110.

Vimeo (VMEO) subscribers up 14% year over year.

RenaissanceRe (RNR) sees catastrophic events to $725 million in Q3.

Hasbro (HAS) Chairman and CEO Brian Goldner died of a long battle with cancer.

International Paper (IP) cuts dividend +9.8% due to spinoff of its printing papers business.

Federal Reserve St. Louis President James Bullard, the hawk, says tapering should be at accelerated rate. (CNBC)

Asset Under Management (AUM) updates AB VCTR

Dividend Announcements: Increases: 

Stock Split: 

Buyback Announcements: QCOM IP VST 

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

S&P 500 +8  Dow Jones Industrial Average +41   NASDAQ +61  Russell 2000 +5.53. Fair values are mixed. Asia mixed and Europe higher. VIX is at 21.45 from 19.55 in futures from yesterday. Gold, silver  and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $131.17 from $131.11 yesterday with yields at 1.594% from 1.603% yesterday morning. Bitcoin at $55,024 from $57,082 down $579 or -1.04% in morning trading.

Tuesday’s Action – 10/12 Close.  

Positive Sectors Tuesday:  Real Estate, Utilities and Consumer Cyclical of note.

Negative Sectors Tuesday: Communication Services, Healthcare 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 ex the Russell 2000, Bonds were higher, U.S. Dollar higher and Commodities higher ex Crude. Updated 10/12 Close.

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

Today After the Close: none of note.

Tuesday Before the Open: TSM, UNH, BAC, WFC, MS, C, USB, PGR, WBA, DPZ, CMC, HTLD of note.

Earnings of Note This Morning:

Beats: BLK +1.47, JPM +0.74, SAP +0.40, DAL +0.15, FRC +0.07

Flat: none

Misses: none

Still to Report: none

Erlanger Research Advance/Decline Chart –Updated through 10/12 close.

Gap Ups & Down In Early Pre-Market:

Gap up: RVNC +9%, SGH +8%, VST +7%, SAP +5%, FIXX +4%, VMEO +3%

Gap Down: STIM -24%, CTSO -14%, VOXX -7%, SRPT -7%, NAPA -6%, SNCY -6%, PYCR -5%, CRSP -5%, EFC -4%, WFG -3%, SWKS -3%

Insider Action: None of note today. Yesterday INDT sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/12

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 JPM BLK DAL. 

Five Things To Know For Trading (CNBC)

Covid cases down to 52,327 from 71,127 a week ago. (CDC)

Biden Administration to address port issues in Los Angeles and Long Beach with 24-7 hours.

House raises debt ceiling confirming Senate vote. Off to Biden to sign.

U.S. to open borders to Mexico and Canada next month. (NYT)

California to ban gas leaf blowers and lawn mowers. (WSJ)

Ark Mgmt (ARKK) Cathie Wood says will be a downturn in China. (Reuters)

Robinhood looks at Starbucks (SBUX) turns 50. NHL has a new team in Seattle.

Moving Average Update

Score at 50% from 30% unchanged. Updated 10/12 Close.

Geopolitical: 

The President receives the President’s Daily Brief, 9:30 a.m. EDT

Press Briefing by White House COVID-19 Response Team and public health officials, 11:00 a.m. EDT

The President signs into law H.R. 2278, An Act “To designate the September 11th National Memorial Trail Route, and for other purposes”, Oval Office, Closed Press, 11:15 a.m. EDT

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

The President meets with senior officials and stakeholders to discuss collective efforts to address global transportation supply chain bottlenecks, Roosevelt Room, Closed Press, 1:45 p.m. EDT

The President delivers remarks on these efforts, East Room, 2:20 p.m. EDT

Fed Speakers:

Federal Reserve Atlanta President Raphael Bostic speaks at 12:30 p.m. EDT.

Federal Reserve Governor Lael Brainard to speak at 4;30 p.m. EDT.

Federal Reserve Governor Bowman to speak at 8:00 p.m. EDT.

Economic:

September CPI is due out at 8:30 a.m. EDT and expected to remain at 0.3%.

The latest FOMC Minutes from the September Meeting are due out at 2:00 p.m. EDT.

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

30 Year Treasury Auctions at 1:00 p.m. EDT.

M&A Activity:

Meeting & Conferences of Note:

Sellside Conferences: Citi Global Resources Conference (10/12-13) J.P. Morgan Global Healthcare Conference (10/12-13)

Company Meetings:   OKTA (Investor/Analyst Day) VLVLY  (Corporate Event)  ATRA (Conference Call) DYN (R&D Day)

Conferences of Note: LD Micro Annual Main Event Conference (10/12-14) Capital Link New York Maritime Forum (10/12-14).

Upgrades & Downgrades: 

Tuesday Recommendations of Note:

About the Author

[Author info unavailable]

Subscribe to Stay Informed

Stay informed by subscribing to information that matters to you. We'll email you when we post new content you want to see.


DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.