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

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"CAPIS Morning Note – 11/12/21: It’s Split Szn. First GE and Now JNJ"

posted by CAPIS on 11/12/2021 at 8:21 am

by CAPIS

11/12/2021 at 8:21 am

Overnight Summary: Overseas markets are a bit mixed. China was up 0.2% while Japan was higher by 1%. Europe sees weakness in the U.K. which is down 0.5% after AstraZeneca (AZN) missed estimates and is lower by 4%.

Breaking News: Johnson & Johnson (JNJ) is splitting into two companies. Consumer and Pharma. (CNBC)

Earnings Out After The Close:

  • Beats: FLO +0.05, RIDE +0.05
  • Flat: AQN, JAMF
  • Misses: GAN (0.06), PVG (0.06), ARRY (0.02), BLNK (0.01)

Capital Raises:

  • IPOs Priced or News: None of note.
  • New SPACs launched: None of note.
  • Secondaries Priced:
    • NETI: Pricing of Public Offering of Common Shares 19,444,444 shares @$9
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • SCM: Public Offering of Common Stock.. Keefe, WFC, Opp. and GS Bookmanagers
  • 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: None of note.
  • Convertible Offering & Notes Filed
    • DDD: 3D Systems Announces Pricing of Upsized Offering of $400.0 Million of 0% Convertible Senior Notes due 2026
  • 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: CODX +13%, SFT +8%, PHUN +6%, BLNK +6%, OPNT +5%
    • Trading Down: AFIB -23%, RIDE -11%, LHDX -11%, BEEM -9%, JAMF -7%, MCW -6%, SCM -4%, ARRY -4%

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

S&P 500 +7.48 Dow Jones Industrial Average +97.77 NASDAQ +26.53 Russell 2000 +4.76. Asia higher and Europe mixed. VIX is at 20.60 from 18.85 in futures from yesterday. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower as well. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.48 from $130.59 with yields at 1.568% from 1.57% yesterday morning. Bitcoin at $63,989 from $64,935 yesterday morning down -1.59% in early morning trading. As of  8:15 a.m. EST.

Thursday’s Action – 11/11 Close:  

  • Daily Positive Sectors: Basic Materials, Technology, Energy, Consumer Cyclical of note.
  • Daily Negative Sectors: Utilities 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 were flat to up, lead by Small Cap.  UNG bounces 4.5%. Updated 11/11 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: TSN, ACM, OTLY of note.

Earnings of Note This Morning:

  • Beats: SPB +0.31, WRBY +0.25, CGEN +0.06
  • Flat: none
  • Misses:  AZN (0.17), ROLL (0.16), CPNG (0.05)
  • Still to Report: none

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

Gap Ups & Down In Early Pre-Market:

    • Gap Up: CODX +10%, SFT +6%, AQN +6%, PAGS +6%, OPNT +5%, FTCH +5%, AVIR +5%, BLNK +4%, JNJ +4%, FLO +4%, TIGO +3%, PHUN +3%, EBS +3%, ADPT +3%, BKSY +3%, BIIB +3%
    • Gap Down: AFIB -22%, RIDE -11%, NETI -9%, SCM -8%, LHDX -7%, BEEM -6%, ATHX -5%, CPNG -4%, JAMF -4%, AZN -3%, ARRY -3%, HYFM -3%

Insider Action:  No stock sees Insider buying with dumb short selling and no stock has smart short sellers with insider buys. 11/11 close

No filing due to holiday.

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 66%. Updated 11/11 close.

 

Geopolitical: 

  • President’s Public Schedule:
    • The President participates in the Asia-Pacific Economic Cooperation Leaders’ meeting, where Leaders will discuss ongoing efforts to address the COVID-19 pandemic and supporting the global economic recovery, 8:30 a.m. EST
    • The President receives the President’s Daily Brief, 9:30 a.m. EST
    • Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EST
    • The President holds a Cabinet Meeting to discuss implementation of the Bipartisan Infrastructure Deal and the results it delivers for the American people, 2:30 p.m. EST
    • The President departs the White House en route Camp David, 5:40 p.m. EST

Economic

  • November University of Michigan is due out at 10:00 a.m. EST and is expected to remain at 71.7.
  • Job Opening and Labor Turnover Survey (JOLTS) 10:00 a.m. EST
  • Baker Hughes Rig Count 1:00 p.m. EST

Federal Reserve Speakers:

  • Federal Reserve New York President John Williams 12:10 p.m. EST

M&A Activity

  • BLDP: Ballard Power announces acquisition of Arcola Energy to help customers integrate fuel cell engines into heavy-duty mobility
  • GoDaddy (GDDY) to aquire Pagely.
  • Brown & Brown (BRO) to aquire Heacock Insurance assets.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Cowen Semis & Semi Cap Equip Bus Tour
    • Credit Suisse EY Fintech Day
    • Goldman Sachs Carbonomics Conference 2021 (11/10-11/16)
    • Jefferies Interactive Entertainment Conference 2021 (11/11-11-12)
    • JP Morgan Digital Twin Seminar
    • JP Morgan Global Consumer, Retail & Luxury Conference
    • Raymond James Cloud Major Data Center Tech Talk 2021 (11/12)
  • Company Meetings: EL, TCEHY, NVS
    • Fireside Chat: DV, LFST
  • Investor/Analyst Day: ASH, BDX, IOVA, KYNC, ONCS, SCHW, SITC, STTK
  • Update: NVS, ACHL 
  • R&D Day: None of note.
  • Conference Call: STTK NKTR
  • Fireside Chat: LFST, DV 
  • Company Event: None of note.
  • Industry Meetings:
    • American Academy of Ophthalmology (11/12-11/15)
    • American Association for the Study of Liver Diseases (11/12-11/19)
    • American Heart Association (11/13-11/15)
    • 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)

Upgrades & Downgrades:

Today’s Recommendations:

Thursday’s Recommendations:

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