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09.26.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 12/28/21: S&P 500 Set To Move Higher For Fifth Day In A Row."

posted by CAPIS on 12/28/2021 at 8:11 am

by CAPIS

12/28/2021 at 8:11 am

Overnight Summary:  The CDC decision to reduce quarantine to 5 from 10 days is seen as a plus in getting back to normal. Asia rose on all fronts. Europe is up in trading. The S&P 500 traded around 4780 until 2:45 a.m. EST when it rallied up to 4797 at 4:45 a.m. EST and now sits at 4794 at 7:25 a.m. EST.

Earnings Out After The Close:

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

Capital Raises:

  • IPOs Priced or News: None of note.
  • New SPACs launched: Roman DBDR Tech Acquisition Corp (DBDR) to merge with CompoSecure and will trade as CMPO this morning.
  • Secondaries Priced:
    • BiondVax (BVXV) Announces Pricing of $9.0 million Follow-on Underwritten Offering of American Depositary Shares.
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • GWH: Filed Form S-1.. 10 million shares of common stock.
  • Pricing of Over-Allotment: None of note.
  • Direct Offering: None of note.
  • Selling Shareholders of note: GWH Files for 5 Million share common stock offering by selling shareholders.
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings: None of note.
  • 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: None of note.
    • Trading Down: None of note.
  • News Items After The Close:
    • Apple (AAPL) closes New York City stores to shoppers amid covid spike. (New York Times)
    • Vipshop (VIPS) lowers Q4 revenue guidance to 0% from 5% to 0%.
    • President Biden calls Covid Omicron surge a state not a Federal problem  but vows Federal support effectively saying not a Federal issue. (CNBC)
    • Goldman Sachs (GS) spokesperson says starting in Feb, employees at U.S. offices will be required to get tested twice a week and in-office employees will need to get booster shots.
    • CDC updates and shortens recommended isolation and quarantine period for general population to 5 days.
    • Airline stocks (JETS) moving higher after hours on CDC decision to reduce COVID isolation time, was a key factor in weekend flight cancellations. (ALK, JBLU, HA, LUV, DAL, UAL, AAL)
    • Moderna (MRNA) announces supply agreement with South Korea for additional 20 Million doses of Moderna’s COVID-19 Vaccine or updated booster candidate in 2022.
    • Connecticut’s COVID-19 test positive rate exceeded 10% on Monday, the highest number since widespread testing began earlier in the pandemic. (NBC)
    • Australia reports 11,258 new coronavirus cases, the biggest one-day increase on record.
    • PLUG –  Hyundai Motor suspends genesis hydrogen car project.
  • Exchange/Listing/Company Reorg and Personnel News: 
    • Former CFO of GSK’s Global Vaccines Business Mr. Jay Green Joins BiondVax’s (BVXV) Board of Directors.
    • Ingles Markets, Incorporated (IMKTA) CFO Ron Freeman to Retire.
  • Buyback Announcements:
    • ATRenew (RERE) Announces US$100 Million Share Repurchase Program.
    • KKR increases available amount under its repurchase program to $500 million.
  • Stock Splits: None of note.
  • Dividends Announcements: None of note.

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

S&P 500 +13 Dow Jones Industrial Average +91 NASDAQ +89 Russell 2000 +4.90. Asia higher and Europe mixed. VIX is at 20.80 from 21.35 yesterday morning. Gold, Silver and Copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.56 from $130.48 yesterday with yields at 1.486% from 1.491% yesterday morning. Bitcoin at $49,222 from $51,166 yesterday morning and -3.78%. As of 8:00 a.m. EST.

Monday’s Action – 12/27 Close:  

  • Daily Positive Sectors: Technology, Energy, Real Estate, Basic Materials, Industrials, Consumer Defensive, Financial, Consumer Cyclical, Communication Services, Healthcare of note.
  • Daily Negative Sectors: None of note.
  • One Month Winners: Healthcare. Utilities, Real Estate of note.
  • Three Month Winners: Real Estate, Basic Materials, Technology of note.
  • Six Month Winners: Technology, Real Estate, Utilities of note.
  • Twelve Month Winners: Energy, Real Estate, and Technology of note.
  • Year to Date Winners: Energy, Technology, and Real Estate  of note.

Indexes continue its bounce, maybe now an uptrend.  Indexes led by tech with the NDX up 1.59%.  UNG getting jiggy again popping for 7.77% gain.  Updated 12/27 close.

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

  • Tuesday After the Close: CALM of note.
  • Wednesday Before the Open: FCEL of note.

Earnings of Note This Morning:

  • Beats: None.
  • Flat: None.
  • Misses: None.
  • Still to Report: None.

Erlanger Research Advance/Decline Chart: Updated through 12/27 close.

Gap Ups & Down In Early Pre-Market:

    • Gap Up: LVO +21%, ASPN +3%
    • Gap Down: KNSA -18%, BTCM -3%, INNV -3%

Insider Action: No stock sees Insider buying with dumb short selling and no stock has smart short sellers with insider buys. 12/22 close

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

  • Stocks Making the Biggest Moves: AAPL, VIPS, COIN, RRD, EXTR, HHC (CNBC)
  • Covid-19 cases rise to 164,644 compare to 88,379 a week ago. Hospitalizations rise to 61,362 from 58,793.
  • World hit daily Covid case record. (Bloomberg)
  • South African Study show Omicron infection increased immunity against Delta infection. (Bloomberg)
  • U.S. and Russia to hold security talks on 1/10. (Guardian)
  • NIH Director retracts statement that there might be a vaccine mandate on flights. (Politico)
  • Indonesia to allow Boeing (BA) 737 Max to fly in country. (Nikkei)

Moving Average Update:

  • And then there was 1.  Score increases to 96% from 93%. Updated 12/27 close.

Geopolitical: 

  • President’s Public Schedule:
    • The President and the First Lady will remain in Rehoboth Beach, Delaware. The President has no public events scheduled.

Economic

  • Redbook Sales 8:55 a.m. EST
  • S&P Case Schiller Home Price Index for October is due out at 9:00 a.m. EST and is expected to fall to 18.7% from 19.1%.
  • FHFA House Price Index 9:00 a.m. EST
  • Richmond Fed Mfg Index 10:00 a.m. EST
  • API Crude Oil Data 4:30 p.m. EST

Federal Reserve Speakers:

  • None of note.

M&A Activity

  • Middleby (MIDD) acquires Char-Griller.  Also, closes on Masterbuilt Holdings acquisition.
  • UFP Industries (UFPI) acquires Ultra Aluminum Manufacturing for $25 million.
  • Zoom Video (ZM) acquires Liminal Assets.

Meeting & Conferences of Note:

  • Sellside Conferences:  None of note. 
    • Previously Posted and Ongoing Conferences:
      • None
  • Company Meetings: XYF
  • Fireside Chat: None of note.
  • Investor/Analyst Day/Calls: BGNE
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings: None of note.
      • Previously Posted and Ongoing Conferences:
        • None.

Top Tier Sell-side Upgrades & Downgrades:

The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting it to make the reader aware of market moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.

Today’s Upgrades and Downgrades:

Monday’s Upgrades and Downgrades:

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