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"CAPIS Morning Note – 11/04/21: Investors Not Rattled By FOMC Policy, SP 500 Now Higher For Last 13 of 15 Days"

posted by CAPIS on 11/04/2021 at 8:30 am

by CAPIS

11/04/2021 at 8:30 am

Overnight Summary: Overseas markets added on gains in the U.S. markets on Wednesday. U.S. markets traded in a 12 point range from the close to 6:00 a.m. Currently, U.S. futures are higher by +7 points on the S&P 500 at 7:15 a.m. EDT.

Breaking News: BOE left rates unchanged but vote was 7-2.

Earnings Out After The Close:

  • Beats: BKNG +4.67, H +2.66, EQIX +2.32, SRPT +0.96, MET +0.68, PDCE +0.64, EQH +0.55, ATRC +0.52, ECPG +0.52, EA +0.45, PTC +0.42, ROKU +0.42, OPRT +0.31, ALB +0.29, QCOM +0.29, FSLY +0.29, SITM +0.28, ICUI +0.27, WK +0.26, CCRN +0.26, PXD +0.26, CORT +0.24, ANSS +0.24, RYN +0.22, GDDY +0.21, SUPN +0.18, YELL +0.18, CTVA +0.17, QRVO +0.17, ICLR +0.16, BLKB +0.14, RGLD +0.14, RPD +0.13, HMN +0.12, ORA +0.11, HBM +0.11, LUMN +0.11, NUS +0.11, IIPR +0.11, ZD +0.11, LNC +0.10, IR +0.10, UPLD +0.10, WTS +0.10, CRSP +0.09, DIOD +0.09, ELF +0.09, FOXA +0.08, MRO +0.08, KW +0.08, TRMB +0.07, ACLS +0.07, DXC +0.07, HST +0.07, RVLV +0.07, OCDX +0.07, FOE +0.07, ACA +0.07, ETSY +0.07, QLYS +0.07, APA +0.07, ITT +0.07, AES +0.06, HUBS +0.06, CW +0.06, SUM +0.05, TXG +0.05, MGM +0.05, BNFT +0.05, NVST +0.04, FLT +0.04, GFL +0.04, COLD +0.04, INFN +0.04, SPWR +0.04, STAA +0.04, QGEN +0.04, VVV +0.03, EPR +0.03, RCII +0.03, PING +0.03, VMEO +0.03, PK +0.03, MLNK +0.03, TNDM +0.03, ADPT +0.03, CHNG +0.03, KL +0.03, VAPO +0.02, RPT +0.02, ORCC +0.02, SLF +0.02, KTOS +0.02, SWN +0.02, MTG +0.01, CDAY +0.01
  • Flat: SJI +0.00, WHD +0.00, HR +0.00, CLR +0.00, LHCG +0.00, MATX +0.00
  • Misses: TTWO (0.51), PETQ (0.37), TPC (0.33), TTGT (0.23), ONEM (0.22), RGR (0.20), TRUP (0.16), OSUR (0.15), AEE (0.14), CUTR (0.14), MDU (0.14), PLMR (0.13), ATGE (0.12), QNST (0.10), CF (0.09), ALL (0.05), PEN (0.05), MTW (0.05), ET (0.05), CAKE (0.05), SKLZ (0.04), TRUE (0.04), SPXC (0.03), MFC (0.03), IAG (0.03), LCI (0.02), FNV (0.02), MGNI (0.02), FSR (0.01), MAXR (0.01), QTWO (0.01), PLYA (0.01), INSG (0.01)

Capital Raises:

  • IPOs Priced or News:
    • ARHS: Pricing of Initial Public Offering .. 12,903,226 shares @$13
    • CDRE: Pricing of $78 Million Initial Public Offering .. Priced @$13
    • NRDS: Pricing of Initial Public Offering.. 7,250,000 shares @$18
  • New SPACs launched: None of note.
  • Secondaries Priced: None of note.
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • ANIP: Pricing Public Offering of Common Stock 1,500,000 shares @$50.. Guggenheim Bookmanager
    • STAG: Public Offering Of Common Stock 8,000,000 shares.. BAC, BMO and WFC Bookmanager
  • Pricing of Over-Allotment: None of note.
  • Direct Offering:
    • PETZ: Entry into an Agreement and Closing of a Registered Direct Placement of $9.9 Million of Common Shares and Warrants
  • Selling Shareholders of note: None  of note.
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • CORR: Filed Form S-3.. $600Million Mixed Shelf
    • ONCR: Filed Form S-3.. $200Million Mixed Shelf
  • Convertible Offering & Notes Filed
    • PRFT: Proposed Private Offering of $300.0 Million of Convertible Senior Notes
  • 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: QNST +28%, CCRN +17.6%, MLNK +11%, SUPN +9.9%, WK +9.7%, CWAN +8.9%, OCDX +8.7%, GDDY +8.5%, TRN +8.1%, SITM +7.6%, FSLY +7.2%, ONEM +6.9%, QCOM +6.9%, OPRT +6.8%, GFL +6.7%, YELL +6.5%, RPD +6.4%, VAPO +5.7%, PTC +4.7%, DIOD +4.6%, BKNG +4.3%, EA +4.2%, NUS +4.1%, RYN +4.1%, ECPG +3.7%, CUTR +3.7%, PETQ +3.4%, ZG +3.4%, DXC +3.3%, ICLR +3.2%, QLYS +3.1%, TXG +3.1%, INFN +3%, LUMN +3%, MGM +2.9%, TRMB +2.8%, NVST +2.7%, SRPT +2.6%, AES +2.6%, PING +2.5%, EQH +2.4%, ALB +2.3%, IIPR +2.3%, KW +2.2%, CF +2%
    • Trading Down: UPLD -20.1%, RMNI -15.9%, QUOT -12.7%, LCI -12.1%, VNDA -12.1%, MGNI -11.6%, SKLZ -10.7%, TNDM -10.2%, MDU -9%, SPWR -8.4%, ROKU -8.1%, QRVO -7.8%, KTOS -7.4%, MTTR -7.1%, MTW -6.2%, TPC -6.1%, OSUR -5.3%, TRUP -4.6%, REGI -4.6%, STAA -4.5%, WHD -4.2%, ANIP -4%, CDAY -4%, RGR -4%, RVLV -3.7%, INSG -3.5%, IAG -3.4%, CLR -3.3%, RCII -3.2%, ALL -2.9%, TTGT -2.7%, STAG -2.5%, ETSY -2.3%, CAKE -2.2%, PK -2%

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

S&P 500 +8.93 Dow Jones Industrial Average +16.42 NASDAQ +66.25 Russell 2000 +7.02. Asia and Europe higher. VIX is at 17.05 from 17.91 in futures from yesterday. Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $131.13 from $130.88 with yields at 1.577% from 1.531%  yesterday morning. Bitcoin at $61,890 from $62,972 yesterday morning down -1.76% in early morning trading. As of  8:25 a.m. EDT.

Wednesday’s Action – 11/03 Close:  

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

Stocks were up lead by technology stocks. Commodities were up with UNG again jumping over 5%. Updated 11/03 Close.

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

  • Thursday After the Close: SQ, ABNB, UBER, MELI, ILMN, NET, FTNT, EOG, AIG, CVNA, DDOG, MNST, MSI, MCHP, PINS, MTD, OXY, BILL, ED, SWKS, EXPE, LYV, PODD, WPM, PCTY, NLOK, AVLR, CGNX, LNT, FND, OTEX, IAC, PCOR, FSLR, GH, NTRA, CABO, RUN, CUBE, XLRN, NVAX, WYNN, Y, FRT, COLD, CRSP, RBA, OHI, HTA, SYNA, MTZ, FOXF, TDC, MP, SWCH, QDEL, PGNY, DNLI, RDFN, VIR, NFG, ATUS, WWE, BHF, SEM, MNDT, KWR, CWK, PFSI, IOVA, LTHM, ALRM, ARNA, OUT, BIGC, VIAV, ONTO, AAON, REZI, BE, ROG, CYRX, FROG, AXNX, SHAK, NKTR, YELP, CVET, EBS, USM, SHO, ALKT, GDOT, MED of note.
  • Friday Before the Open: ENB, D, HMC, TRP, SRE, TU, MGA, VTR, DKNG, UI, KIM, HRC, PNW, GT, ESNT, DSEY, ERJ, KYMR, FLR, CNK, MODV, MFA, AMCX, MMI, SSP, NWN, AXL, TEN, ECOL, TILE, GRPN of note.

Earnings of Note This Morning:

  • Beats: NRG +5.64, REGN +5.43, BLDR +1.76, VSTO +0.63, HMHC +0.61, PH +0.56, CI +0.52, HII +0.52, ARW +0.47, GOLF +0.38, CNQ +0.27, CTXS +0.25, KTB +0.25, LITE +0.24, NVMI +0.24, HIMX +0.23, GIL +0.22, EPAM +0.20, WCC +0.19, NSIT +0.19, DIN +0.19, CNHI +0.15, K +0.16, CHH +0.15, TNK +0.14, WD +0.14, GEO +0.14, ZTS +0.14, BDX +0.14, W +0.13, PZZA +0.12, BCOR +0.11, GOGO +0.09, SHYF +0.09, IRM +0.09, OGE +0.08, MBUU +0.08, DUK +0.08, QRTEA +0.07, ALE +0.07, SSYS +0.07, USPH +0.07, HBI +0.06, TGNA +0.06, VNT +0.06, MUR +0.06, PLNT +0.06, APTV +0.06, FIS +0.05, ZBH +0.05, DOCN +0.05, CNP +0.05, NOMD +0.04, ABC +0.03, UNIT +0.03, STOR +0.03, MTSI +0.03, XRAY +0.03, PBH +0.03, DNB +0.03, HWM +0.02, DLX +0.02, PWR +0.02, LSPD +0.02, LNTH +0.02, APD +0.02, CYBR +0.01, LXP +0.01, OPCH +0.01, CCOI +0.01, IRWD +0.01, REYN +0.01, SO +0.01, NEO +0.01, GOLD +0.01, CPQ +0.01
  • Flat: VG +0.00, CFX +0.00, VIAC +0.00
  • Misses:  LNG (5.55),MRNA (1.72), GPRE (0.95), GTN (0.70), BALY (0.67), CWEN (0.48), CARS (0.41), PENN (0.39), WMS (0.29), NTCT (0.27), GEL (0.26), KRTX (0.25), STRA (0.25), KOP (0.25), AHCO (0.19), NS (0.17), SWTX (0.17), IBP (0.15), BBIO (0.13), NTLA (0.12), FOCS (0.12), VMC (0.11), COMM (0.10), BLI (0.07), ACIW (0.05), HSKA (0.05), BLL (0.04), TGP (0.03), DISH (0.02), PPL (0.02), HL (0.01)
  • Still to Report: BCE, UFS, IDCC, ITRI, NKLA, SGMO

Erlanger Research Advance/Decline Chart: Updated through 11/03 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: CCRN +26.2%, QNST +22.7%, CUTR +12.7%, SUPN +9.9%, MLNK +9.9%, FSLY +9.7%, CWAN +8.9%, MAXR +8.8%, GDDY +8.6%, QCOM +8.2%, WK +7.9%, SITM +7.8%, OCDX +7.3%, OPRT +6.8%, GFL +6.4%, VSTO +6%, YELL +5.6%, NUS +5.4%, VAPO +5.3%, MGM +4.7%, ALB +4.3%, DIOD +4.3%, QLYS +4.2%, RYN +4.1%, BKNG +4%, TRN +3.8%, EQH +3.8%, ECPG +3.7%, GEL +3.6%, ICLR +3.4%, PETQ +3.4%, CENX +3.3%, VMEO +3%, TXG +3% 
  • Gap Down: UPLD -23.7%, RMNI -23%, SPWR -12.7%, TNDM -10.3%, MTW -10.1%, SWM -10%, MGNI -9.4%, QRVO -9.2%, MDU -9%, QUOT -8.1%, LCI -8.1%, MTTR -8.1%, ROKU -7.2%, SKLZ -6.8%, CLR -6.7%, TPC -6.1%, RCII -5.8%, WHD -5.7%, KTOS -5.1%, TRUP -4.6%, ANIP -4.5%, CDAY -4.5%, REGI -4.3%, RVLV -4.1%, ELF -3.6%, DLX -3.5%, WCC -3.4%, ALL -3.3%, LXP -3.3%, STAG -3.1%, EQIX -3.1%, SPXC -3%

Insider Action: No stocks see Insider buying with dumb short selling and XRX has smart short sellers with insider buys. 11/02 close

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 remains at 100%. Updated 11/03 close.

Geopolitical: 

  • President’s Public Schedule:
    • The President and The Vice President receive the President’s Daily Brief, Oval Office, Closed Press, 10:00 a.m. EDT
    • Press Briefing by Principal Deputy Press Secretary Karine Jean-Pierre, 2:00 p.m. EDT
  • Fed Speakers:
    • Bank of England is out with its latest Interest Rate Update.
    • OPEC Meeting at 8:00 a.m. EDT.

Economic:

  • Challenger Job Cut 7:30 a.m. EDT
  • Initial Jobless Claims 8:30 a.m. EDT
  • Productivity and Costs 8:30 a.m. EDT
  • Trade in Goods 8:30 a.m. EDT
  • EIA Natural Gas Report 10:30 a.m. EDT

M&A Activity:

  • INN: Summit Hotel Properties Announces Acquisition of 27-Hotel Portfolio from NewcrestImage

Meeting & Conferences of Note:

  • Sellside Conferences: Credit Suisse China Investment Conference (11/1-5), Goldman Sachs China Conference (11/1-5), B. Riley Fall 2021 Growth Biotech “Best Ideas”, Credit Suisse Brazil Basic Materials Conference(11/3-5), Credit Suisse Blockchain and Digital Assets Symposium, Jefferies CIO Team Summit and Bernstein Operational Decisions Conference.
  • Company Meetings: None of note.
  • Investor/Analyst Day: BCEI, CS, KDNY, WBX
  • Update: CALT, TALS
  • R&D Day: PGEN 
  • Industry Meetings: BancAnalysts Association of Boston Conference and Diabetes Technology Society Conference (11/4-6)

Upgrades & Downgrades:

Today’s Recommendations:

Wednesday’s Recommendations:

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