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09.23.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 10/22/21: Stocks Try to Shake Off Bad News from INTC and SNAP"

posted by CAPIS on 10/22/2021 at 8:32 am

by CAPIS

10/22/2021 at 8:32 am

Overnight Summary: Stocks are down slightly in the U.S. with overnight seeing a range of only 15 points. Asia was more mixed as Evergrande avoided a default with a last minute payment. Europe took the Evergrande news as a sign of relief and stocks are higher into the end of the week.

Earnings Out After The Close:

  • Beats: CMG +0.70, SIVB +0.65, INTC +0.60, WHR +0.50, OLN +0.40, WRB +0.39, WSFS +0.31, CSL +0.24, RHI +0.13, ASB +0.12, MAT +0.12, FFBC +0.11, CE +0.10, SNAP +0.09, GBCI +0.07, OZK +0.04, FFIN +0.03, WAL +0.03, PBCT +0.01
  • Flat: WABC
  • Misses: SAM (1.23), BJRI (0.24), VICR (0.21), PSMT (0.10), BOOM (0.08)

Capital Raises:

  • IPOs Priced or News:
    • ISEE: Pricing of Upsized Public Offering of Common Stock.. 9,000,000 shares @$16.75
    • UTRS: 6.25M share IPO priced at $12.00
  • New SPACs launched: None of note.
  • Secondaries Priced: None of note.
  • Notes Priced of note:
    • FANG: Diamondback Energy, Inc. Completes Divestiture of Williston Basin Assets and Announces Notice of Redemption of $650 million of 0.900% Senior Notes due 2023
    • APG: Closing of $300 Million Senior Notes Offering
    • OFS:  OFS Capital Corporation Prices Public Offering of $50,000,000 4.95% Notes Due 2028
  • Common Stock filings:
    • ISEE: Proposed Offering of Common Stock.. $125.0 million of shares.. MS, Cowen . Stifel and CS Bookmanagers
    • NRXP: Filed Form 424B3.. 8,757,258 Shares of Common Stock
    • LSEA: Filed Form 424B3.. 41,301,645 Shares of Common Stock 5,500,000 Warrants to Purchase Common Stock
    • BANX: At-the-Market Offering $30,000,000 of its common stock.. B.Riley bookmanager
  • Pricing of Over-Allotment: None of note.
  • Direct Offering: None of note.
  • Selling Shareholders of note: None of note.
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:  
    • RAD: Filed Form S-3ASR.. Mixed Security Shelf
  • 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:

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

S&P 500 +5 Dow Jones Industrial Average +81 NASDAQ -35 Russell 2000 +9 . Fair values are mixed. Asia mixed and Europe higher. VIX is at 18.68 from 19.64 in futures from yesterday. Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $130.05 with yields at 1.682% from 1.67% yesterday morning. Bitcoin at $63,373 up 0.21% in morning trading.

Wednesday’s Action – 10/21 Close:  

  • Positive Sectors Thursday: Consumer Cyclical, Technology, Healthcare
  • Negative Sectors Thursday: Energy, Basic Materials, Financials
  • One Month Winners: Energy, Financials and Industrials of note.
  • Three Month Winners: Energy, Financials, and Technology of note.
  • Six Month Winners: Energy, Technology and Communication Services of note.
  • Twelve Month Winners: Energy, Financials and Communication Services of note.
  • Year to Date Winners: Energy, Communication Services, and Financials  of note.

Stocks were slightly up, lead by technology. Oil pulled back.  Updated 10/21 Close.

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

  • Friday After the Close: none of note.
  • Monday Before the Open: KMB, OTIS, QSR, LII, AMG, CBU, SITC, BOH, DORM, AUB, FBP, HNI, KOP of note.

Earnings of Note This Morning:

  • Beats: HCA +0.56, AXP +0.52, STX +0.14, RF +0.12, CLF +0.10, ROP +0.06, FHB +0.03, HON +0.02
  • Flat: SLB +0.00
  • Misses: FHB (0.47), ALV (0.13), SMPL (0.07), VFC (0.05), GNTX (0.04), AIMC (0.02)
  • Still to Report: none

Erlanger Research Advance/Decline Chart: Updated through 10/21 close.

Gap Ups & Down In Early Pre-Market:

  • Gap upATHA +7.6%, MAT +6.3%, ARAY +3.4%, WSFS +2.8%, GBCI +2.7%
  • Gap Down: MTCR -51.4%, SNAP -20.7%, CMBM -16.1%, BOOM -10%, INTC -9.8%, CRTO -8.4%, TTD -5.3%, MGNI -5.1%, TWTR -4.5%, USX -4.4%, FB -4.1%, SAM -4.1%, BJRI -3.9%

Insider Action: None of note today. No stocks sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/21

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

Moving Average Update:

  • Score at 100% unchanged. Updated 10/21 close.

Geopolitical: 

  • President’s Public Schedule:
    • 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
    • Press Briefing by Press Secretary Jen Psaki, 1:30 p.m. EDT
    • The President departs the White House en route Wilmington, Delaware, 8:00 p.m. EDT
    • The President arrives in Wilmington, Delaware, 8:55 p.m. EDT
  • Fed Speakers:
    • Federal Reserve San Francisco President Mary Daly speaks at 10:00 a.m. EDT
    • Fed Chairman Jerome Powell Policy policy panel 11:00 a.m. EDT

Economic:

  • PMI Composite Flash 9:45 a.m. EDT
  • Baker Hughes Rig Count 1:00 p.m. EDT

M&A Activity:

  • KFY: Korn Ferry Enters into Definitive Agreement to Acquire Lucas Group
  • ALTM: Altus and EagleClaw Announce All-Stock Business Combination; Creates a Leading Pure-Play Permian Integrated Midstream Company With a Capital Return Focus
  • RTLR: Rattler Midstream to acquire certain water midstream assets from parent Diamondback for $160 mln in cash in a drop down transaction
  • ME: 23andMe Agrees to Acquire Lemonaid Health
  • ROP Roper: Blue Wolf Capital to acquire CIVCO Radiotherapy from ROP

Meeting & Conferences of Note:

  • Sellside Conferences: Credit Suisse Real Estate Conference
  • Company Meetings:   (Investor/Analyst Day)  (R&D Day) (Corporate Event)  (Fireside Chat)
    • ALAC
    • ALTM Altus Midstream Conference Call on the Acquisition of EagleClaw
  • Conferences of Note: None of note.

Upgrades & Downgrades:

Today’s Recommendations:

Thursday Recommendations:

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