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"CAPIS Morning Note -1/24/22: Stocks Fail To Hold Overnight Highs. FOMC This Week."

posted by CAPIS on 01/24/2022 at 8:23 am

by CAPIS

01/24/2022 at 8:23 am

Overnight Summary: Asia traded sideways while Japan was higher. Europe is weaker as sellers are in control. S&P 500 Futures hit a peak around 9:00 p.m. EST  at 4427 and then traded sideways until 2:00 a.m. EST before beginning at slide to 4360 and at -17 (-0.39%) at 7:25 a.m. EST.

Breaking News: China flies 39 warplanes near Taiwan. (Sky News)

Earnings Out After The Close:

  • Beats: None of note.
  • Flat: None of note.
  • Misses: None of note.

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: None of note.
  • 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:  of note.
  • Convertible Offering & Notes Filed: None of note.
  • Note Offerings Filed:  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:
    • Trading Down: 
  • News After The Close:
    • Barron’s is + on  VIAC CNHI DAM GPC HAL DRQ TV MSCI JBHT WRBY MTN SHOP GE BDX TMO KDP TEL AMZN FISV SEDG EA TTWO ZNGA COOP GS MS WFC BAC NFLX .
    • Starboard looks to bid $64 for Kohl’s (KSS). (WSJ)
  • Buyback Announcements:
    • ST approves a $500 million share repurchase program.
  • Stock Splits: None of note.
  • Executive Changes & Corporate Actions
    • Kraft Heinz (KHC) US CEO Andre Maciel to assume Global CFO Role on 3/2.
    • Archer Aviation (ACHR) appoints Mark Mesler as  CFO.
  • Dividends Announcements: 
    • NBHC raises to $0.23 a quarter from $0.22 per share.
    • ED raised to $0.79 from $0.73 a share.
    • TRGP increase dividend to $0.35 per share an increase of 350%.

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

S&P 500 -31 , Dow Jones -163 , NASDAQ -168 and Russell 2000 -15.82. Asia higher ex Hang Sang and Europe lower. VIX Futures are at 27.93 from 25.55 Friday morning. Gold higher with Silver and Copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $127.27 from $128.52  yesterday with yields at 1.74% from 1.778% Friday morning. Bitcoin at $33,576 from $38,472 Friday morning and -4.66%. As of 8:05 a.m. EST.

Friday’s Action – 01/21 Close:  

  • Daily Positive Sectors: None of note.
  • Daily Negative Sectors: All.
  • One Month Winners: Energy, Financials and Materials of note.
  • Three Month Winners: Materials, Consumer Defensive and Energy of note.
  • Six Month Winners: Energy, Financials and Utilities of note.
  • Twelve Month Winners: Energy, Real Estate, and Financials of note.
  • Year to Date Winners: Energy of note.

Indexes again pulled back to the downside in an afternoon rout.  Bonds rallied. Updated 01/21/22 close.

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

  • Monday After the Close: BRO CR ELS HOPE IBM IBTX LOGI SSB STLD WSFS ZION of note.
  • Tuesday Before the Open: ADM AXP BANC CTXS CVLT GE IVZ JNJ LFKN LMT MMM NEE PCAR PII RTX UMC VZ XRX of note.

Earnings of Note This Morning:

  • Beats: HAL +0.58 BOH +0.20
  • Flat: 
  • Misses: CBU -0.01 PHG -0.05
  • Still to Report:  

Guidance:

    • Positive Guidance: MCFE
    • Negative Guidance:

Erlanger Research Advance/Decline Chart: Updated through 01/21/22 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: KSS +28.3%, HOLI +10%, VOD +6.9%, UL +6.6%, SABS +4.6%, ATGE +3.9%
  • Gap DownOPK -12%, PHG -4%, DQ -3.8%, PFE -3.7%, NMG -3.4%, ACHR -3.3%, SBSW -3.3%, MRNA -2.8%, BNTX -2.5%

Insider Action: ASAN SAFE SNSE see Insider buying with dumb short selling. No smart short sellers with insider buys. 01/24/22 close.

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

  • Stocks Making The Biggest Moves: KSS SNAP PTON. (CNBC)
  • 5 Things To Know To Start Your Day. (Bloomberg)
  • Covid-19 Cases fall to 769,153 from 875,805 cases a week ago and yet Hospitalizations rise to 140,498 from 131,332. (CDC)
  • State Department orders family members of U.S. Government employees at the U.S. Embassy in Kiev to leave.
  • President Biden may send troops, warships and aircraft to Eastern Europe over Ukraine. (NYT)
  • Dr. Fauci noted over the weekend that things are going in the right direction on Covid-19 but does not want to get overconfident. (NYT)
  • Goldman Sachs (GS) moves to belief of 4 rate hikes this year. (CNBC)
  • Apple (AAPL) to introduce new iPhoneSE and iPad. (Bloomberg)
  • NFL ends Covid-19 testing for unvaccinated players. (NYT)
  • Robinhood Snacks looks at

Moving Average Update:

  • Score moves to 0% from 6%. Updated 01/21/22 close.

Geopolitical: 

  • President’s Public Schedule:
    • President Biden returns from Delaware at 10:30 a.m. EST.
    • President Biden receives the Daily Briefing at 11:30 a.m. EST.
    • President meets with members of his administration on efforts to lower prices for working families by 12:00 p.m. EST.

Economic

  • There are no major economic reports of note but IHS does report their Manufacturing PMI and Markit Service- Preliminary.
  • Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and S&P Case-Schiller Home Price Index, Consumer Confidence, New Home Sales, Durable Orders, Pending Home Sales, Personal Income, PCE-Core and University of Michigan Consumer Sentiment-Final.

Federal Reserve Speakers:

  • FOMC (Federal Reserve Open Market Committee) meets on Tuesday and Wednesday so Fed speakers are on embargo.

M&A Activity

  • None of note.

Meeting & Conferences of Note:

  • Sellside Conferences: Barclays Global Inflation Conference, Capital Link’s Corporate Presentations and Jefferies Winter Restaurant, Food Services, Gaming, Lodging & Leisure Summit.
  • Previously Announced  Conferences:
  • Company Meetings: 
  • Fireside Chat: MLSS  of note.
  • Investor/Analyst Day/Calls: SPWH
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings: Washington Auto Show 
      • Previously Posted and Ongoing Conferences:
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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