New!
12.08.2021 8 new Morning Note posts under Morning Note (8)

Morning Note

News

Morning Note

"CAPIS Morning Note – 11/10/21: Consumer Price Index Hotter Than Expected – 31yr High"

posted by CAPIS on 11/10/2021 at 8:44 am

by CAPIS

11/10/2021 at 8:44 am

Overnight Summary: Stocks are softer this morning. What goes up must come down. Chinese CPI came in hot at 1.5% with PPI up 13.5%. Japan was lower for a fourth day in a row.  Europe is mixed. SP 500 Futures are down by -14.

Breaking News: Consumer price index surges 6.2% in October, considerably more than expected and Initial Claims 264k vs 265.

Earnings Out After The Close:

  • Beats: SGMS +1.45, JAZZ +0.89, FLGT +0.80, LGND +0.54, FGEN +0.46, SCSC +0.27, UPST +0.27, EVBG +0.19, AKA +0.17, TTEC +0.16, CCXI +0.16, PUBM +0.16, STEP +0.11, FLYW +0.10, G +0.10, AMPL +0.09, SGFY +0.08, MODN +0.08, SAIL +0.07, ARLO +0.06, WYNN +0.05, ONTF +0.05, CARG +0.05, ALC +0.04, HCAT +0.04, ELY +0.04, VRM +0.03, LAW +0.03, RPAY +0.03, RNG +0.03, LPRO +0.02, AMK +0.02, TWOU +0.02, GO +0.02, INO +0.01, POSH +0.01, NARI +0.01, U +0.01, CERT +0.01, TBLA +0.01, OLO +0.01, TWNK +0.01,
  • Flat: DNUT +0.00, SHLS +0.00
  • Misses: NIO (1.19), TOST (0.78), DASH (0.69), COHR (0.34), NSTG (0.29), NUVA (0.22), PRPL (0.22), GLBE (0.20), JXN (0.16), PAAS (0.16), TPTX (0.12), KOD (0.12), SILK (0.12), PLUG (0.11), ASH (0.10), COIN (0.10), GOCO (0.09), ANNX (0.05), DV (0.04), FUBO (0.04), ABCL (0.03), EPAY (0.03), WES (0.02), DOCS (0.02), SEER (0.01), VZIO (0.01), PYCR (0.01)

Capital Raises:

  • IPOs Priced or News:
    • RIVN: Pricing of Upsized Initial Public Offering.. 153,000,000 shares @$78 above range of $72 to $74.
    • CINT: Pricing of Initial Public Offering (IPO).. 13,043,478 Class A common shares @$15
    • EXFY: Pricing of Initial Public Offering..  3,730,776 shares at $27 above range of $25 to $27 
  • New SPACs launched: None of note.
  • Secondaries Priced:
    • ATXI: Prices Public Offering 1,946,787 shares @$1.34
    • KRP: Prices Public Offering of Common Units.. 3,750,000 common units @$14
    • KDNY: Pricing of an Upsized $160 Million Public Offering.. 7,828,572 shares @$14
    • ANPC 1.302 Prices Public Offering 1,302,000 @ $2.22
    • SITM Pricing Public Offering 2 Million at $225
    • CYRX Pricing Public Offering 3.1 Million at $81.10
  • Notes Priced of note:
    • CYRX Prices Offering of $350 Million of 0.75% Senior Convertible Notes 2026
  • Common Stock filings/Notes:
    • DCTH: Form 424B5.. Up to $25Million Common Stock
    • HSDT: Proposed Underwritten Public Offering of Common Stock.. Ladenburg bookmanager
    • INO: Filed Form 424B5.. Having an Aggregate Offering Price of up to $300,000,000
    • PSA: Public Storage Announces Pricing of 4.00% Cumulative Preferred Shares of Beneficial Interest, Series R
    • MRTX: Proposed Public Offering of Common Stock $500Million .. GS, Leerink and Cowen bookmanagers
    • TMBR: Closing of Exercise of Underwriter’s Option to Purchase Additional Common Stock
    • ZNGA: Filed Form S-3ASR.. 20,009,528 Shares
    • ANPC: Proposed Public Offering of American Depositary Shares
    • ROVR: Rover Announces Confidential Submission of Draft Registration Statement for Secondary Offering 
    • EVAX: Closing of $27.6 Million Follow-on Public Offering, Including Full Exercise of the Underwriters’ Option to Purchase Additional Shares
    • GPL – Great Panther Mining Announces $20 Million Bought Deal Offering of Common Shares 
    • BBLN 
  • Pricing of Over-Allotment: None of note.
  • Direct Offering:
    • METX Meten Holding Group Prices $20 Million Registered Direct Offering of Ordinary Shares Priced At-the-Market Under Nasdaq Rules
  • Selling Shareholders of note:
    •  FOLD
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • AMPH: Filed Form S-3.. $250Million Mixed Shelf
    • HRMY: Filed Form S-3ASR.. Mixed Shelf
    • KRON: Filed Form S-3ASR.. $150Million Mixed Shelf
  • Convertible Offering & Notes Filed: None of note.
  • Note Offerings Filed: 
    • CLR: Pricing of Offering of $800 Million Senior Notes Due 2026 and $800 Million Senior Notes Due 2032
    • MGPI: Proposed Private Offering of $175 Million of Convertible Senior Notes
    • OTEX: Pricing of Senior Unsecured Fixed Rate Notes to Redeem Outstanding 2026 Notes

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: PUBM +23%, RNG +22%, PAR +22%, DASH +19%, AVID +17%, FLYW +13%, NARI +12%, SGFY +11%, STEM +11%, SAIL +11%, SEMR +8%, NVEE +7%, VCYT +7%, DNUT +7%, JXN +6%, ZETA +6%, AKA +6%, VZIO +6%, G +5%, GOCO +5%, TWOU +5%, FGEN +4%, RPAY +4%, MNKD +4%, WES +4%, CNR +3%
    • Trading Down: POSH -26%, PRPL -25%, ASLE -20%, UPST -18%, DOCS -15%, DMTK -14%, COIN -13%, SHLS -12%, SKIN -9%, LPRO -9%, FUBO -9%, DV -8%, U -8%, NUVA -7%, GLBE -6%, TOST -6%, PYCR -6%, AMPL -6%ABCL -6%, TMDX -5%, ONTF -5%

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

S&P 500 -17.50 Dow Jones Industrial Average -83 NASDAQ -101 Russell 2000 -4.59. Asia and Europe mixed. VIX is at 19.16 from18.65 in futures from yesterday. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $131.56 from $131.55 with yields at 1.466% from 1.464% yesterday morning. Bitcoin at $66,380 from $67,586 yesterday morning down -1.12% in early morning trading. As of  8:15 a.m. EST.

Tuesday’s Action – 11/09 Close:  

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

Stocks closed slightly down with technology losing the most.  UNG continues the wild swings closing down 8%. Updated 11/09 Close.

   

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

  • Wednesday After the Close: DIS, APP, AFRM, GDRX, MQ, SOFI, ATO, FICO, STNE, BMBL, BRKS, KGC, CRCT, TASK, FIGS, COMP, CCMP, ULCC, ENS, WISH, AMWL, BROS, HIMS, ROOT, MAX, SPTN, HNST, DGII, DIBS, BZH, RRGB of note.
  • Thursday Before the Open: BABA, PDD, MT, UI, NICE, TPR, CAE, OGN, YETI, CELH, LAC, DCBO, KYMR, UTZ, SBH, BLUE, GRWG, STNG of note.

Earnings of Note This Morning:

  • Beats: ZNTL +1.22, AER +0.57, ADNT +0.37, MNDY +0.34, MSGS +0.21, FVRR +0.20, EVGO +0.17, KRNT +0.16, EYE +0.13, FLOW +0.09, ENR +0.06, SFL +0.05, GIB +0.05, SHCR +0.03, VERX +0.03, OLPX +0.02, WEN +0.01, FOUR +0.01, PFGC +0.01, WWW +0.01, IS +0.01, SHC +0.01, APG +0.01
  • Flat: none
  • Misses:  DFH (0.25), PRGO (0.20), KYMR (0.19), UP (0.13), HLLY (0.02), KELYA (0.01)
  • Still to Report: ME, RPRX

Erlanger Research Advance/Decline Chart: Updated through 11/08 close.

Gap Ups & Down In Early Pre-Market:

  • Gap UpRNG +23%, PUBM +23%, AVID +18%, DASH +18%, STEM +16%, SEMR +16%, FVRR +15%, SGFY +14%, NARI +13%, SAIL +12%, JXN +10%, CERT +8%, VCYT +8%, IMAB +8%, PAR +7%, DNAY +7%, GOCO +7%, LGND +6%, LU +6%, FGEN +6%, ZETA +6%, NVEE +6%, ADV +6%, FLGT +6%, CARG +6%, AKA +5%, VET +5%, FLYW +5%, TWOU +5%, ELY +4%, RPAY +4%, CCXI +3%, CNR +3%, DNUT +3%, WYNN +3%
  • Gap Down: PRPL -32%, POSH -31%, ASLE -21%, UPST -19%, LPRO -17%, DMTK -17%, ATXI -14%, DOCS -12%, SKIN -11%, COIN -11%, AMPL -11%, TMDX -10%, HYLN -9%, SHLS -8%, DAKT -8%, VIEW -8%, DV -8%, NUVA -7%, FUBO -7%, KRP -6%, GRUB -6%, U -5%, EVBG -5%, GLBE -4%, PYCR -4%, PLUG -4%, WES -4%, AXU -3%, ONTF -3%, EPAY -3%, TWNK -3%, ACB -3%

Insider Action: CLR, CSWC, ARAY, COMM sees Insider buying with dumb short selling and RCII, FTDR, BLI has smart short sellers with insider buys. 11/08 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 moves down to 93% from 100%. Updated 11/09 close.

Geopolitical: 

  • President’s Public Schedule:
    • The President receives the President’s Daily Brief, 9:00 a.m. EST
    • The President meets with Her Excellency Ursula von der Leyen, President of the European Commission, to build on their recent engagements at the G20, COP26, and the June U.S.-EU Summit, 10:00 a.m. EST
    • Press Briefing by White House COVID-19 Response Team and public health officials, 11:00 a.m. EST
    • The President departs the White House en route Milford, Delaware, 11:40 a.m. EST
    • The President arrives in Milford, Delaware, 12:25 p.m. EST
    • The President attends the funeral of former Governor of Delaware Ruth Ann Minner, 1:00 p.m. EST
    • The President departs Milford, Delaware en route Baltimore, Maryland, 2:20 p.m. EST
    • The President arrives in Baltimore, Maryland, 3:15 p.m. EST
    • The President receives a briefing on the Port of Baltimore, 3:40 p.m. EST
    • The President delivers remarks on how the Bipartisan Infrastructure Deal delivers for the American people by upgrading our nation’s ports and strengthening supply chains to prevent disruptions, 4:10 p.m. EST
    • The President departs Baltimore, Maryland en route the White House, 5:40 p.m. EST
    • The President arrives at the White House, 6:00 p.m. EST

Economic: Several Economic Releases Moved Up A Day Due To Veterans Day Tomorrow

  • MBA Mortgage Applications 7:00 a.m. EST
  • October CPI is due out at 8:30 a.m. EST and is expected to rise to 0.6% from 0.4%.
  • Initial Jobless Claims 8:30 a.m. EST
  • Wholesale Inventories 10:00 a.m. EST
  • EIA Petroleum Report 10:30 a.m. EST
  • EIA Natural Gas Report 12:00 p.m. EST
  • $25 Billion of 30 Year Auction at 1:00 p.m. EST
  • Treasury Statement 2:00 p.m. EST

Federal Reserve Speakers

  • None of note

M&A Activity:

  • XLRN: Avoro Capital Releases Presentation Detailing Why Acceleron Shareholders Should Not Tender Into Merck’s Inadequate Offer
  • fuboTV (FUBO) buys Molotov SAS for $190 million in cash and stock
  • XONE ExOne Shareholders Approve Acquisition by Desktop Metal
  • DASH: DoorDash buys Wolt for $8.5 Billion
  • DNAY Codex DNA to purchase Eton Bioscience
  • ARKO: ARKO Corp., the 6th Largest Convenience Store Operator in the Country, Announces its 20th Acquisition with the Purchase of the Handy Mart Chain in North Carolina

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Baird 51st Annual Global Industrial Conference 2021 (11/09-11/11)
    • Bank of America Banking and Financials Conference (11/9-10)
    • Credit Suisse 30th Annual Healthcare Conference 2021 (11/08-11/11)
    • Goldman Sachs Carbonomics Conference 2021 (11/10-11/16)
    • Jefferies Cybersecurity Summit 2021 (11/10)
    • JP Morgan Global Consumer, Retail and Luxury Conference 2021 (11/10)
    • JP Morgan Digital Twin Seminar 2021 (11/10-11/11)
    • Morgan Stanley Global Chemicals, Agriculture and Packaging Conference 2021 (11/09-11/11)
    • Piper Sandler East Coast Financial Services Conference 2021 (11/10-11/11)
    • UBS European Virtual Conference 2021 (11/10)
    • Wells Fargo Hosted Meetings – EEI Conference 2021 (11/10)
  • Company Meetings: ADP, ORCL
  • Investor/Analyst Day: AQMS, EFX, FOUR, MA, OC, ROK, SSNC, SWI, URGN, WOR, CDAY 
  • Update: None of note.
  • R&D Day: None of note.
  • Conference Call: None of note.
  • Company Event:  BLKB, NXGN
  • Industry Meetings:
    • Nareit REITWorld Annual Conference (11/8-11/11)
    • Clinical Trials on Alzheimer Disease CTAD Conference 2021 (11/09-11/12)
    • Tableau Conference 2021 (11/09-11/12)
    • Society for Immunotherapy of Cancer SITC 36th Annual Meeting 2021 (11/10-11/14)
    • CFA NY Insurance Conference 2021 (11/10)

Upgrades & Downgrades:

Today’s Recommendations:

Tuesday’s Recommendations:

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.