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01.27.2022 11 new posts under Morning Note (8), Compliance Docs. (2), CAPIS Insights (1)

Morning Note

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Morning Note

"CAPIS Morning Note – 1/11/22: Stocks Higher As Rally From Monday Afternoon Continues"

posted by CAPIS on 01/11/2022 at 8:27 am

by CAPIS

01/11/2022 at 8:27 am

Overnight Summary: Stocks are in rally mode in the U.S. and mixed overseas. Asia lower and Europe Higher.

Breaking News: 

Chart of the Week: S&P 500 Via SPY sees deterioration week over week but has yet to turn completely negative.

Chart courtesy of Erlanger Research

Earnings Out After The Close:

  • Beats: ACCD +0.94.
  • Flat: None.
  • Misses: None.

Capital Raises:

  • IPOs Priced or News: None of note.
  • New SPACs launched:
    • None of note.
  • Secondaries Priced: None of note 
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • NCNO: Public Offering of 43,973,042 shares of common stock.
    • NTST: Public Offering of 8 million shares of common stock.
    • PLIN: Filed 18,034,183 warrants.
  • Pricing of Over-Allotment: None of note.
  • Direct Offering: None of note.
  • Selling Shareholders of note:
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • NCNO of note.
  • Note Offerings Filed: None of note.
  • Convertible Offering & Notes Filed: 

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box as well as other sources.

News After The Close:

  • After The Close Biggest Winners & Losers:
      • Biggest Gainers: ACCD +11.5%, NARI +10.3%, ANF +7%, PI +4.2%
      • Biggest Losers: IMMM -14%, BIG -6%, RIVN -5%
  • News After The Close:
      • Federal Reserve Vice Chairman Richard Clarida to resign two weeks early.
      • NASDAQ (NDAQ) saw Equity Options Volume at 258 million versus 301 million in November and 277 a year ago.
      • Higher Guidance  NTUS NARI SONX  ILMN
      • Lower Guidance ANF BIG
      • Pfizer (PFE) wins $440 million Army contract.
  • Exchange/Listing/ Company Reorg and Personnel News
      • Ring Central (RNG) names Mo Katibeh as Chief Operating Officer .
      • Micron (MU) CFO resigns to go to Intel (INTC)..
  • Buyback Announcements
      • West Pharm (WST) to buyback up to 650,000 shares of common stock.
  • Stock Splits:
      • None of note

What’s Happening This Morning:

S&P 500 +, Dow Jones +, NASDAQ + and Russell 2000 + . Asia mixed and Europe lower. VIX Futures are at 21.62 from 21.21 yesterday morning. Gold, Silver and Copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $128.20 from $128.58 yesterday with yields at 1.762% from 1.771% yesterday morning. Bitcoin at $41,840 from $41,043 yesterday morning and 0.86%. As of 8:05 a.m. EST.

Monday’s Action – 1/10 Close:  

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

The major indexes rallied for the lows into the close and several made it back into the green. Other assets fared decently.  Updated 1/10 close.

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

  • Tuesday After the Close: None of note.
  • Wednesday Before the Open: JEF SJR of note.

Earnings of Note This Morning:

  • Beats: ACI +0.20
  • Flat: None.
  • Misses: 
  • Still to Report: SNX.

Erlanger Research Advance/Decline Chart: Updated through 1/10 close. Both the S&P 500 and the Daily Market A/D Line were lower yesterday despite the late day rally.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: ZY +12.5%, ACCD +10.4%, QSI +8.2%, SONX +6.6%, NARI +6.2%, ANF +5.9%, FREY +5.3%, ILMN +4.3%, PI +3.8%, FUSN +3.6%, BARK +3.3%, BCAB +3%
  • Gap Down: IMNM -13.7%, FTI -7.4%, BIG -5%, MTDR -4.3%, NCNO -3.6%, RIVN -3%

Insider Action: Insider action of note this morning with heavy short selling where the short get it wrong ADBE DOCU. Shorts are heavy in AESE but we have no history.

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: ILMN RIVN JNPR  (CNBC)
  • Covid cases rose to 831,304 cases from 486,428 a week ago. Hospitalizations rise to over 100,000 at 107,982  from 67,324. No update on Tuesdays as partial reporting. (CDC)
  • U.S. Hospitalizations inflated as those getting tested at hospital but were admitted for a different procedure. (NYT)
  • Germany saw protests over Covid-19 restrictions. (NYT)
  • President Biden to restrict oil leasing in Alaska. (WSJ)
  • President Biden wants to change filibuster rules over Voting Rights Bill but two senators against so dead on arrival. (NYT)
  • Gilead Sciences (GILD) believes the FDA is two weeks away from deciding that Remdesivir could be used outside of a hospital. (Bloomberg)

Moving Average Update:

  • Score fell to 27% from 33%. Updated 1/7 close.

Geopolitical:

  • President Biden to visit Atlanta in advance of Dr. Martin Luther King Day next Monday.

Economic:

  • December NFIB Small Business Optimism was out at 6:00 a.m. EST and came in at 98.90 from last month at 98.40.

  • The latest NYSE and NASDAQ Short Interest is due out after the close for the period ended settlement of December 31st.

Federal Reserve Speakers:

  • Federal Reserve Cleveland President Loretta Mester speaks at 9:10 a.m. EST.
  • Federal Reserve Kansas City President Esther George speaks at 9:30 a.m. EST.
  • Federal Reserve Chairman Jerome Powell appears before the Senate to answer questions on his nomination for a second term at 10:00 a.m. EST.
  • Federal Reserve St. Louis President James Bullard speaks at 4:00 p.m. EST.

M&A Activity

  • None of note.

Meeting & Conferences of Note:

  • Sellside Conferences: Goldman Sachs Global Strategy Conference, Raymond James Private Data Center Symposium, Credit Suisse Carbon Negative Conference and UBS Greater China Conference
    • Previously Posted and Ongoing Conferences:
      • JP Morgan Healthcare Conference, Jefferies Software Conference, Needham Growth Conference, RBC Canadian Bank CEO and UBS Winter Infrastructure & Energy Conference
  • Company Meetings: UNFI of note.
  • Fireside Chat: None of note.
  • Investor/Analyst Day/Calls: EXC PSTI RADA CIVB
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings: ASSA 2022 
    • Previously Posted and Ongoing Conferences:
      • None.

Top Tier Sellside 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 is to make the reader aware of market moving recommendations. None of these recommendations should be interpreted should be interpreted as actual recommendations from CAPIS or its employees.

Today’s Upgrades & Downgrades –

 

Monday’s Recommendations:

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