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

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Morning Note

"CAPIS Morning Note -1/12/22: Stocks Higher Into Inflations Data."

posted by CAPIS on 01/12/2022 at 8:32 am

by CAPIS

01/12/2022 at 8:32 am

Overnight Summary: Overseas markets were strong in Asia last night and Europe this morning. U.S. Futures are up slightly on the S&P 500 +2.50. The range last night was narrow 4695 to 4720 and now at 4707.50 at 7:20 a.m. EST.

Breaking News: 

Earnings Out After The Close:

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

Capital Raises:

  • IPOs Priced or News: Closing of HOUR IPO and over allotment.
  • New SPACs launched:
  • Secondaries priced:
    • RC prices 7 million shares.
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • RC: Public Offering of 6 million shares of common stock..
  • Pricing of Over-Allotment: None of note.
  • Direct Offering: None of note.
  • Selling Shareholders of note:
    • BZFD files 112,304,633 shares by selling shareholders
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • RC 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: SRLP +7% 
      • Biggest Losers: BIIB -7.1% RC -3%
  • News After The Close:
      • Assets Under Management (AUM) reports out APAM IVZ AB BEN.
      • Biogen (BIIB) gets Medicare coverage only for Aduhelm only for patients in clinical trials.
      • Higher Guidance  NPCE 
      • Lower Guidance PHG.
  • Exchange/Listing/ Company Reorg and Personnel News
      • Allete (ALE) CFO Robert Adams to retire..
  • Buyback Announcements
      • ALLY announced a $2 billion share repurchase authorization.
      • IART to buy back $125 million shares.
  • Stock Splits:
      • None of note
  • Dividend Changes:
      • ALLY ups dividend to $0.30 from $0.25.

What’s Happening This Morning:

S&P 500 +7, Dow Jones +60, NASDAQ +39 and Russell 2000 -0.50 . Asia and Europe higher. VIX Futures are at 20.90 from 21.62 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 $128.20 from $128.58 yesterday with yields at 1.734% from 1.762% yesterday morning. Bitcoin at $43.341.32 from $41,840  yesterday morning and +1.23%. As of 8:25 a.m. EST.

Tuesday’s Action – 1/10 Close:  

  • Daily Positive Sectors: Almost all sectors ex Utilities led by Energy, Materials and Consumer Cyclical.
  • Daily Negative Sectors: Utilities.
  • One Month Winners: Energy, Financials and Materials of note.
  • Three Month Winners: Materials, Consumer Defensive and Technology of note.
  • Six Month Winners: Energy, Financials and Technology of note.
  • Twelve Month Winners: Energy, Real Estate, and Financials of note.
  • Year to Date Winners: Energy, Financials and Materials of note.

The major indexes were all in the green. Other assets were green as well.  Updated 1/10 close.

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

  • Wednesday After the Close: KBH of note.
  • Thursday Before the Open: DAL INFO TSM of note.

Earnings of Note This Morning:

  • Beats: SJR +.04 JEF +.02
  • Flat: None.
  • Misses: 
  • Still to Report: 

Erlanger Research Advance/Decline Chart: Updated through 1/10 close. The Daily A/D line failed to improve yesterday.

Gap Ups & Down In Early Pre-Market:

  • Gap Up:  SRLP +7%, PRCT +4%, PSTL +4%, MFG +4%, ALLY +3%, IART +3%
  • Gap Down: PHG -15%, BIIB -10%, RC -4%, NSR -3%, ACRS -3%

Insider Action: Insider action of note this morning with heavy short selling where the short get it wrong SAFE ASAN  ZYME. Shorts get it right in SMAR.

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: DASH DIDI PHG OCGN AJRD BIIB DISH GRUB (CNBC)
  • Covid cases rocket to 1,406,530 cases from 828,417 a week ago. Hospitalizations at 119,115 from 85,423. Deaths hold between 1,500 and 2,000 a day.
  • China factories and supply chains are being impacted by lockdowns. (WSJ)
  • White House may offer to provide KN95 mask to all Americans. (Politico)
  • DirectTV (T) and Dish Networks (DISH) in merger talks. (NY Post)

Moving Average Update

  • Score rose to 60% from 27%. Updated 1/10 close.

Geopolitical:

  • President Biden to receive Daily Briefing at 10:20 a.m. EST.
  • White House Covid Response Team to hold a Press Briefing at 11:00 a.m. EST.
  • President Biden attend funeral of General Raymond Odierno at 12: 45 p.m. EST.
  • White House Press Briefing at 3:00 p.m. EST by Jen Psaki.

Economic:

  • The latest NYSE and NASDAQ Short Interest is due out after the close for the period ended settlement of December 31st.
  • December CPI is due out at 8:30 a.m. EST and is expected to fall to 0.4% from 0.8%.
  • The latest Federal Reserve Beige Book is due to be released at 2:00 p.m. EST.
  • Weekly Crude Oil Inventories are due out at 10:30 a.m. EST.
  • 10 Year Treasury Auction at 1:00 p.m. EST.

Federal Reserve Speakers:

  • Federal Reserve Minneapolis President Neel Kashkari speaks at 1:00 p.m. EST.

M&A Activity:

Meeting & Conferences of Note:

  • Sellside Conferences: CJS Securities “New Ideas” Investor Conference, Citi European Insurance Conference
    • Previously Posted and Ongoing Conferences:
      • JP Morgan Healthcare Conference, Jefferies Software Conference, Needham Growth Conference, UBS Greater China Conference
  • Company Meetings: CMC of note.
  • Fireside Chat: ASAN of note.
  • Investor/Analyst Day/Calls: CBZ GROY WK
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings:
  • 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

Tuesday’s Recommendations:

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