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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 – 10/26/21: Futures March Upward (….again!) as Earnings Come In"

posted by CAPIS on 10/26/2021 at 8:24 am

by CAPIS

10/26/2021 at 8:24 am

Overnight Summary: Stocks are lower as Hong Kong fell -0.36% and Japan rose 1.77%. Europe is higher while in the U.S. the overnight session saw a range of 22 points with the S&P 500 is higher by 19 points at 7:20 a.m.

Earnings Out After The Close:

  • Beats: CR +0.53, TNET +0.52, PKG +0.35, CADE +0.17, PCH +0.16, MEDP +0.15, AGNC +0.10, CALX +0.07, OI +0.06, CCK +0.06, CDNS +0.05, AXTA +0.05, BRO +0.05, AMKR +0.04, HTLF +0.04, FB +0.04, HSTM +0.04, HOPE +0.03, CATY +0.02, ARE +0.02
  • Flat: LXFR +0.00
  • Misses: ACC (0.47), BDN (0.33), RNR (0.21), UHS (0.09), IBTX (0.08), SSD (0.07), TBI (0.01), BXS (0.01)

Capital Raises:

  • IPOs Priced or News:
    • SG Sweetgreen (NYSE) files S-1 for IPO; size and pricing not yet determined
    • VTYX: Closing of Upsized Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
    • CMTG Claros Mortgage Trust, Inc. Announces Launch of its Initial Public Offering
  • New SPACs launched: None of note.
  • Secondaries Priced:
    • FGF: Pricing of Public Offering.. 652,174 shares @$4
    • AUGX – Augmedix, Inc. Announces Uplisting to Nasdaq and Pricing of Public Offering of $40,000,000 of Common Stock
    • TASK Prices Upsized 12.08M Share Secondary Offering at $63.50/sh
  • Notes Priced of note:
    • PYXS: SC 13G Filed by RA Capital Management, L.P. 5.8%
    • PROG: Progenity Reduces Outstanding Debt by $20.175 Million Through a Private Exchange of $20.175 Million of Its 7.25% Convertible Senior Notes Due 2025 for Shares of Common
  • Common Stock filings/Notes:
    • TWO: Public Offering of Common Stock.. 30,000,000 shares.. Citi, CS and RBC Bookmanagers
    • CRNX: Closing of Public Offering of Common Stock, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
    • VTRU: Filed Form F-3.. U.S.$400,000,000 Common Shares, Debt Securities, Warrants, Rights and Units offered by the Company and 23,538,503 Common Shares offered by the Selling Shareholders
    • CLAR: Launch of Common Stock Offering.. 2,750,000 shares .. BAC Bookmanager
    • EVAX – Evaxion Biotech Announces Filing of Registration Statement in the U.S for Proposed Follow-on Public Offering to Raise Additional Capital
  • Pricing of Over-Allotment: None of note.
  • Direct Offering:
    • OMF OneMain Holdings commences proposed secondary public offering of 10,010,208 shares of common stock by an entity managed by affiliates of Apollo Global Management (APO)
  • Selling Shareholders of note:
    • LPI Laredo Petroleum files for 959,691 share common stock offering by selling shareholders
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:  
    • BKU: Filed Form S-3ASR,, Mixed Shelf
    • CSPR Casper Sleep files for $150 mln mixed securities shelf offering
  • 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:

  • After Hours:
    • Trading Up: OCGN +12.8%, UFI +12.5%, CDMO +10%, ANAB +9.1%, GERN +8.8%, HSII +6.4%, FDMT +6% , CR +4.5%, TNET +4.2%, MEDP +4%, UNM +3.1% ARE +2.5%, PKG +2.5%, FB +2%
    • Trading Down: CLAR -5.5%, TBI -5.1%, TWO -3.5% , UHS -2.8%, CDNS -2.3%

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

S&P 500 +17.77 Dow Jones Industrial Average +114.85 NASDAQ +82.76 Russell 2000 +8.76.  Asia modestly lower and Europe higher. VIX is at 18.26 from 18.68 in futures from yesterday. Gold, silver and copper lower. WTI Crude Oil higher and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.61 from $130.39 with yields at 1.622% from 1.665% yesterday morning. Bitcoin at $62,828 from $62,711 yesterday morning up 0.03% in early morning trading. As of 7:30 a.m. EDT.

Wednesday’s Action – 10/25 Close:  

  • Positive Sectors Monday: Consumer Cyclicals, Energy, and Basic Materials.
  • Negative Sectors Monday: None of note.
  • 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 Technology of note.
  • Year to Date Winners: Energy, Financials, and Communication Services  of note.

Stocks continue to march higher in the fourth quarter.  UNG gets all gassed up and skyrockets 11%.  Updated 10/25 Close.

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

  • Tuesday After the Close: MSFT, GOOG, V, TXN, AMD, CB, COF, DLR, CSGP, HOOD, AMP, EQR, ENPH, ESS, TER, PFG, BXP, UDR, IEX, MASI, FBHS, CHRW, FFIV, QS, MANH, JNPR, BYD, EGP, LFUS, NOV, NCR, TENB, MTDR, HIW, UMBF, HPP, APAM, LBRT, FIBK, TWOU of note.
  • Wednesday Before the Open: KO, TMO, MCD, BMY, BA, ADP, GM, CME, FISV, NSC, BSX, GD, TEL, SPOT, APH, KHC, ODFL, GRMN, HES, UMC, ARES, DTE, IP, TDY, ROL, AVY, WAB, MAS, BG, TEVA, OC, PAG, VRT, SF, EVR, AMG, SLAB, NYCB, HOG, ALKS, BXMT, DRVN, TNL, SLGN, R of note.

Earnings of Note This Morning:

  • Beats: ABG +1.00, CIT +0.55, SPGI +0.39, HZO +0.28, AAN +0.26, HAS +0.26, SBSI +0.25, TRTN +0.24, MMM +0.22, GBX +0.22, UBS +0.18, RTX +0.17, UPS +0.16, SFNC +0.15, GE +0.13, SSTK +0.12, MSCI +0.10, ADM +0.08, TRU +0.08, FELE +0.08, NVS +0.07, JBLU +0.06, INMD +0.05, PNR +0.05, ENTG +0.05, XRX +0.05, IVZ +0.04, ST +0.04, SHW +0.04, GPK +0.03, CNC +0.03, PHM +0.03, PII +0.02, ARCC +0.02
  • Flat: none
  • Misses: ARCH (0.72), LMT (0.14), HUBB (0.13), PCAR (0.12), AWI (0.11), WM (0.10), CVLT (0.09), DAN (0.05), TPB (0.05), LLY (0.02), GLW (0.02)
  • Still to Report: ECL

Erlanger Research Advance/Decline Chart: Updated through 10/25 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: OCGN +23.6%, ANAB +12.9%, CDMO +11.3%, MEDP +10.7%, UFI +10.6%, AMKR +7.8%, HSII +6.1%, FDMT +5.6%, TNET +5.6%, SBSW +3.6%, TRU +3.5%, FB +2.7%, ARE +2.7%, CR +2.7%, BRO +2.5%, UPS +2.5%, UNM +2.1%, NVS +2.1%, GERN +2%
  • Gap Down: LOGI -7.3%, CLAR -5.5%, TBI -5.2%, TWO -3.3%, UHS -2.8%, RNR -2.7%, PII -2.6%, MOD -2.5%, ORAN -2.2%

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. 10/25

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% from 96% as NDX 5 Day MA returns above. Updated 10/25 close.

Geopolitical: 

  • President’s Public Schedule:
    • The President participates virtually in the annual U.S.-ASEAN Summit, 9:00 a.m. EDT
    • Press Briefing by Press Secretary Jen Psaki and National Security Advisor Jake Sullivan, 10:00 a.m. EDT
    • The President has lunch with The Vice President, 12:15 p.m. EDT
    • The President campaigns with former Governor Terry McAuliffe, 7:50 p.m. EDT
  • Fed Speakers:
    • None of note.

Economic:

  • Redbook Sales 8:55 a.m. EDT
  • FHFA HPI 9:00 a.m. EDT
  • Richmond Fed Mfg Index 9:00 a.m. EDT
  • August S&P Case Shiller is due out at 9:30 a.m. EDT and expected to rise to 20% from 19.90%.
  • October Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 108 from 109.30.
  • September New Home Sales are also due out at 10:00 a.m. EDT and are expected to rise to 755,000 from 740,000.
  • API Crude Oil Data 4:30 p.m. EDT
  • The latest NYSE and NASDAQ Short Interest is due out after the close for the period of September 30th through October 15th.

M&A Activity:

  • INDI: indie Semiconductor Enters Definitive Agreement to Acquire Analog Devices’ Symeo Radar Division
  • TRU: TransUnion Announces Agreement to Sell TransUnion Healthcare to Clearlake Capital Group-Backed nThrive for $1.7 Billion
  • TRU: TransUnion has signed a definitive agreement to acquire Sontiq for $638 mln
  • TTCF Tattooed Chef has entered into an agreement to acquire Belmont Confections for ~$18 mln in cash and stock

Meeting & Conferences of Note:

  • Sellside Conferences: Jefferies China Biotech.
  • Company Meetings:   (Investor/Analyst Day)  (R&D Day) (Corporate Event)  (Fireside Chat)
    • Analyst/Investor Calls: AXLA, BIVI, DDOG, PAVM, TSHA
    • Shareholder Meeting: AIT
  • Conferences of Note:
    • American Society for Radiation Oncology
    • BIO-Europe
    • Gartner Supply Chain Symposium

Upgrades & Downgrades:

Today’s Recommendations:

Monday Recommendations:

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