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09.30.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 10/25/21: Stocks Starting the Week Slightly Positive – Big Tech Earnings this Week!"

posted by CAPIS on 10/25/2021 at 8:29 am

by CAPIS

10/25/2021 at 8:29 am

Overnight Summary: Stocks are mixed globally as China rose 0.8% and Japan fell -0.7%. Europe is mixed while in the U.S. the overnight session saw a range of 20 points with the S&P 500 higher by 4.5 points.

Earnings Out After The Close:

  • Beats: None
  • Flat: None
  • Misses: None

Capital Raises:

  • IPOs Priced or News:
    • CNTX: Closing of Initial Public Offering, Including Full Exercise of Underwriter’s Over-allotment Option
    • SDIG: Closing of Initial Public Offering, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares of Class A Common Stock
    • Allbirds Announces Launch of Initial Public Offering
  • New SPACs launched: None of note.
  • Secondaries Priced: None of note.
  • Notes Priced of note:
    • BTU: Announces Offer To Purchase Up To $15.842 Million In Aggregate Accreted Value Of Its 8.500% Senior Secured Notes Due 2024
  • Common Stock filings/Notes:
    • DRIO DarioHealth files for $200 mln common stock offering
    • ASTR Astra Space says there were errors in the co’s accounting for its convertible preferred stock — 8K filing
    • NLSP: Filed Form F-1.. 2,680,211 Common Shares
    • TMC: Filed Form 424B3.. Up to 264,438,297 Common Shares Up to 9,500,000 Warrants
  • Pricing of Over-Allotment: None of note.
  • Direct Offering: None of note.
  • Selling Shareholders of note:
    • BCAB BioAtla files for 2,678,600 share common stock offering by selling shareholders
    • BHIL Benson Hill files for 89,628,274 share common stock offering by selling shareholders
    • ONDS Ondas Holdings files for 8,315,630 share common stock offering by selling shareholders
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:  
    • HON Honeywell files mixed securities shelf offering
    • NLS Nautilus files for $100 mln mixed securities shelf offering
    • NURO: Filed Form S-3.. $50,000,000 Mixed Shelf
  • Convertible Offering & Notes Filed:
    • C: Citigroup Announces $2.55 Billion Redemption of 2.900% Notes due 2021 and $750 Million Redemption of Floating Rate Notes due 2021 
  • 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 +6 Dow Jones Industrial Average +14 NASDAQ +44 Russell 2000 -1. Fair values are mixed. Asia mixed and Europe mixed. 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 higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.39 from $130.05 with yields at 1.665% from 1.682% Friday morning. Bitcoin at $62,711 from $63,373 on Friday morning up 3.71% in early morning trading. As of 8:05 a.m. EDT.

Wednesday’s Action – 10/22 Close:  

  • Positive Sectors Friday: Financial, Consumer Defensive, Real Estate
  • Negative Sectors Friday: Communication Services, Consumer Cyclical, Technology
  • One Month Winners: Energy, Financials and Industrials of note.
  • Three Month Winners: Energy, Financials, and Technology of note.
  • Six Month Winners: Energy, Technology and Financials of note.
  • Twelve Month Winners: Energy, Financials and Communication Services of note.
  • Year to Date Winners: Energy, Financials, and Communication Services  of note.

Stocks were slightly down by technology pulling back.  TLT jumped over a percent along with USO and UNG.  Updated 10/22 Close.

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

  • Monday After the Close: FB, CDNS, ARE, BRO, LOGI, CCK, PKG, UHS, AGNC, ACC, AXTA, RNR, MEDP, AMKR, CR, SSD, EDU of note.
  • Tuesday Before the Open: LLY, NVS, UPS, RTX, GE, SPGI, MMM, LMT, SHW, UBS, ECL, CNC, ADM, GLW, PCAR, ENTG, PHM, HAS, PNR, HUBB, ARCC, ST, PII, GPK, JBLU, AWI, SSTK, ABG, FELE, TRTN, XRX of note.

Earnings of Note This Morning:

  • Beats: BOH +0.35, AUB +0.17, QURE +0.12, FBP +0.09, KMB +0.07, OTIS +0.04, SITC +0.03, CBU +0.03, QSR +0.02, LKFN +0.01
  • Flat: HNI +0.00
  • Misses: LII (0.18), DORM (0.04)
  • Still to Report: none

Erlanger Research Advance/Decline Chart: Updated through 10/22 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: BRPM +17.8%, PYPL +6.8%, APEN +4.3%, PHUN +3.3%, BHIL +2.8%, HUT +2.8%
  • Gap Down: ERYP -33%, PINS -11.6%, DRIO -5.4%, TPTX -2.1%

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. 10/22

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 96% from 100% as NDX 5 Day MA slips below. Updated 10/22 close.

Geopolitical: 

  • President’s Public Schedule:
    • The President receives the President’s Daily Brief, 8:30 a.m. EDT
    • Principal Deputy Press Secretary Karine Jean-Pierre will speak aboard Air Force One en route Newark, New Jersey, 10:00 a.m. EDT
    • The President arrives in Plainfield, New Jersey, 10:45 a.m. EDT
    • The President visits East End Elementary School to highlight his Build Back Better Agenda, 11:20 a.m. EDT
    • The President departs Plainfield, New Jersey en route Newark, New Jersey, 12:20 p.m. EDT
    • The President delivers remarks on his Build Back Better Agenda and the Bipartisan Infrastructure Deal, NJ Transit Meadowlands Maintenance Complex, Kearny, NJ, 1:45 p.m. EDT
    • The President departs Newark, New Jersey en route Joint Base Andrews, 2:55 p.m. EDT
    • The President arrives at the White House, 4:05 p.m. EDT
    • The President meets with His All-Holiness Ecumenical Patriarch Bartholomew and welcomes the official delegation of the Orthodox Christian Church to the White House, 5:30 p.m. EDT
  • Fed Speakers:
    • None of note.

Economic:

  • Chicago Fed Activity Index 8:30 a.m. EDT
  • Dallas Fed Mfg Survey 10:30 a.m. EDT

M&A Activity:

  • PCOR Procore Technologies acquires LaborChart; financial terms not disclosed
  • SGAM Seaport Global Acquisition Corp completes combination with Redbox; to trade under symbol “RDBX” starting October 25
  • O Realty Income and Vereit (VER) anticipate closing merger on November 1
  • AUPH Aurinia Pharma: Follow-Up — stock ticks higher after hours on report that Bristol-Myers Squibb has expressed interest in acquiring AUPH
  • SHBI SVBI: Shore Bancshares, Inc. and Severn Bancorp, Inc. Announce Receipt of Shareholder Approval for Merger
  • DWSN Dawson Geophysical enters merger agreement with Wilks Brothers
  • PAE: PAE Enters Into Agreement to be Acquired by Amentum
  • PINS Pinterest: In response to market rumors regarding a potential acquisition of Pinterest by PayPal (PYPL), PayPal stated that it is not pursuing an acquisition of Pinterest at this time.
  • CWEN Clearway Energy announces sale of its thermal business to KKR (KKR)

Meeting & Conferences of Note:

  • Sellside Conferences: None of note.
  • Company Meetings:   (Investor/Analyst Day)  (R&D Day) (Corporate Event)  (Fireside Chat)
    • Analyst/Investor Calls: ALGS, ASLN, BIOL
    • Shareholder Meeting: CMMB
  • Conferences of Note:
    • American Society for Radiation Oncology
    • BIO-Europe
    • Gartner Supply Chain Symposium

Upgrades & Downgrades:

Today’s Recommendations:

Friday Recommendations:

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