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09.23.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

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"CAPIS Morning Note – 01/18/22: 10 Year Pops to 1.82%, Stocks Sell Off This Morning. Options Expiration On Friday For January."

posted by CAPIS on 01/18/2022 at 8:17 am

by CAPIS

01/18/2022 at 8:17 am

Overnight Summary: Maybe we should have another off day? Stocks are weak as yields on the 10 year are at 1.82% this morning. S&P 500 Futures are off their lows at 4:00 a.m. EST at 4590 but are still down -48.75 at 4606.  Asia is mixed while Europe is lower.

Earnings Out After The Close:

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

Capital Raises:

  • IPOs Priced or News: None of note.
  • New SPACs launched:
    • Revelstone Capital Acquisition Corp. (RCACU) Announces Closing of $15 Million Over-Allotment Option in Connection with Its Initial Public Offering.
  • Secondaries Priced:
  • Notes Priced of note: None of note.
  • Common Stock filings/Notes:
    • APRN
    • BLKB
    • CSTL
    • FATH
    • SOPA
  • Pricing of Over-Allotment: None of note.
  • Direct Offering:
  • Selling Shareholders of note: None of note.
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • BAK
    • BLKB
    • RMED
    • TAOP
  • Convertible Offering & Notes Filed:
  • 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 and Over the Weekend:

  • Weekly Wrap Up: Best and Worst performing large cap stocks:
    • Trading Up: MOLN 93%, BBIG 76%, ZNGA 49%, FATH 40%, IRTC 38%, BCRX 34%, APR 26%, IMUX 23%, CAN 22%, NBR 21%, WTI 21%, ATIP 21%, MIRM 20%, THRX 19%, WFRD 19%, PL 18%, BTU 18%, BARK 15%
    • Trading Down: BHIL -36%, HUDI -34%, BRDS -34%, EMBK -33%, SKIN -31%, BRLT -30%, DDL -30%, EYPT -30%, CTRN -29%, TNYA -26%, KYMR -26%, PACB -26%, HYZN -25%, PEAR -25%, FTCI -25%, LIDR -23%, RSI -22%, OPAD -22%, LWLG -21%
  • News Items Over the Weekend:
    • Roche (RHHBY) wins a $310 million Army contract.
    • Abbott Labs (ABT) wins a $310 million Army contract.
    • The People’s Bank of China (PBOC) lowered its key benchmark by 10 basis points.
    • Barron’s:
      • Positive View: DE FISV MA ADBE AMAT DHR ANGI TTWO FCX
      • Negative View: None of note.
      • Mixed View: None of note. 
  • Exchange/Listing/Company Reorg and Personnel News: 
    • Phoenix New Media (FENG) Receives Notice Regarding NYSE Continued Listing Standard.
    • CooTek (CTK) Announces Receipt of NYSE Non-Compliance Letter.
  • Buyback Announcements:
  • Stock Splits:
  • Dividends Announcements: None of note.

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

S&P 500 -42 , Dow Jones -225 , NASDAQ -235 and Russell 2000 -21.36. Asia mixed and Europe lower. VIX Futures are at 22.55 from 22.50 Friday morning. Gold lower with Silver higher and Copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $128.52 from $128.20 yesterday with yields at 1.82% from 1.736% Friday morning. Bitcoin at $41,688 from $42,222 Friday morning and -1.12%. As of 8:10 a.m. EST.

Friday’s Action – 01/14 Close:  

  • Daily Positive Sectors: Energy, Technology, Communication Services of note.
  • Daily Negative Sectors: Real Estate, Industrials, Basic Materials, Utilities, Financials of note.
  • One Month Winners: Energy, Financials and Basic Materials of note.
  • Three Month Winners: Basic Materials, Consumer Defensive and Energy 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 Basic Materials of note.

Indexes battled back after gap down open.  Most indexes ended positive.  TLT pulled back 1.51% to 142.10.  Updated 01/14/22 close.

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

  • Tuesday After the Close: IBKR, JBHT, PNFP, HWC, UCBI, FULT, PRGS.
  • Wednesday Before the Open: UNH, PG, BAC, ASML, MS, PLD, USB, STT, FAST, CFG, CMA, CBSH, BOKF, HTLD.

Earnings of Note This Morning:

  • Beats: SBNY +0.38 TFC +0.13 PNC +0.09 SI -0.07 GS -1.07
  • Flat: None.
  • Misses: 
  • Still to Report: BK SCHW FMBI ONB 

Erlanger Research Advance/Decline Chart: Updated through 01/14/22 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: GENI +6%, SBNY +4%, ANGI +3%, CTXS +3%
  • Gap Down: MOLN -16%, SI -8%, EVLO -4%, CS -3%, LGO -3%, FSM -3%, DAL -3%

Insider Action: SAFE sees Insider buying with dumb short selling and MACK has smart short sellers with insider buys. SNSE sees moderate short selling with no history. 01/13/22 close.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”.

  • Stocks Making The Biggest Moves: . (CNBC)
  • Covid-19 cases 874,087 from 831,304. Hospitalizations at 135,361 from 107,982 a week ago.
  • The Bank of Japan (BOJ) left monetary policy unchanged while raising its inflation forecast.
  • Blackrock (BLK) CEO interviewed on CNBC calls for more inflation and aggressiveness by the FOMC causing muted returns. (CNBC)
  • Houghton Mifflin (HMHC) considers a sales. (Bloomberg)
  • Citrix (CTXS) sees private equity looking to make a bid. (Bloomberg)
  • Target (TGT) CEO note that customers will make fewer trips to store due to inflation. (Bloomberg)
  • Starbucks (SBUX) and Chipotle (CMG) are limiting hours and seating due to worker shortage due to Omicron. (WSJ)
  • Fourth dose of Pfizer (PFE) vaccine does not prevent Omicron. (Bloomberg)
  • Airline CEOs rally to request delay in launch of 5G. (Reuters)
  • Vail Resorts (MTN) has a worker shortage. (WSJ)
  • Exxon Mobil (XOM) seeks net zero greenhouse gas emissions by 2050.

Moving Average Update:

  • Score remains at 20%. Updated 01/14/22 close.

Geopolitical: 

  • President’s Public Schedule:
    • President Biden receives the Daily Briefing at 10:15 a.m. EST.
    • The President and the Vice President receive the Weekly Economic Briefing at 11:15 a.m. EST.
    • Press Briefing at 12:15 p.m. EST with Press Secretary Jen Psaki and Infrastructure Implementation Coordinator Mitch Landrieu.
    • Senate begins debating the Voting Rights Bill. (AP)

Economic

  •  January Empire State Manufacturing is due out at 8:30 a.m. EST and estimate are for 25 from 31.90 last month.
  • January NAHB Housing Market Index is due out at 10:00 a.m. EST and is expected to stay at 84.
  • The Bank of Japan (BOJ) was out with its latest interest rate decision.

Federal Reserve Speakers:

  • None  of note.

M&A Activity

Meeting & Conferences of Note:

  • Sellside Conferences:  Santander’s Latin America Conference and Truist Miami Aerospace Aftermarket Bus Tour. 
    • Previously Posted and Ongoing Conferences:
      • UBS Greater China Conference (01/10/22 – 01/19/22)
  • Company Meetings: 
  • Fireside Chat: None of note.
  • Investor/Analyst Day/Calls: ATAI CRDF FTCI ME 
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings:
      • Previously Posted and Ongoing Conferences:
        • Winter Clinical Dermatology Conference 2022 (01/14/22-01/19/22)
        • Veterinary Meeting & Expo Conference 2022 (01/15/22-01/19/22)
        • Biotech Showcase 2022
        • National Retail Federation (NRF): Retail’s Big Show

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:

                               

Friday’s Upgrades and Downgrades:

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