• IPOs Priced or News:
  • FinWise Bancorp (FINW) 3.5M share IPO priced at $10.50
  • Snow Lake Resources (LITM) 3.2M share IPO priced at $7.50
• New SPACs launched:
  • Infinite Acquisition Corp. (NFNT) Announces Pricing of Upsized $240 Million Initial Public Offering.. 24,000,000 units at a price of $10.00 per unit
• Secondaries Priced:
  • ALHC: Pricing of Secondary Offering.. 8 Million @$21
  • AQB: Pricing of the Public Secondary Offering of Common Stock by Selling Stockholders.. 11.2M @$2.10.. Opp. and LakeStreet bookmanagers
  • ARVL: Pricing and Upsize of Public Follow-on Offering.. 32,373,684 ordinary shares @$9.50
  • ECVT: Pricing of Secondary Offering .. 8Million @$9.50
  • KHC: Pricing of Secondary Offering of Common Stock
  • KRNT: Pricing of Upsized Public Offering of Ordinary Shares.. 2,645,953 ordinary shares @$151
  • ROVR: Rover Group Pricing of Secondary Offering..6 Million @$10
  • PRVA – Privia Health
  • SEMR – SEMRush Pricing of Secondary Offering..5 Million @$20.50
• Notes Priced of note:
  • AFRM: Affirm Holdings, Inc. Announces Pricing of Upsized Private Offering of $1.5 Billion of 0% Convertible Senior Notes Due 2026
  • BBDC: Prices Public Offering of $350.0 Million 3.300% Unsecured Notes Due 2026
  • CAMT – Camtek Prices Public Offering of $175 million of 0% Convertible Senior Notes due 2026.
  • CURO: Upsizing and Pricing of $250 Million of Senior Secured Notes
  • VLO: Pricing of Notes Offering
  • ARVL: Prices Public Offering of $$275 Million of Green Convertible Senior Notes due 2026.
• Common Stock filings/Notes:
  • ADV: Filed Form 424B3.. Up to 11,244,988 Shares of Class A Common Stock Issuable Upon Exercise of Warrants
  • BKMT – Blackstone Mortgage Trust
  • BTX – Brooklyn Immuno Therapeutics
  • BXMT: Public Offering of Class A Common Stock.. 10,000,000 shares.. Citi, BAC, BCS, DB, JPM and WFC Bookmanagers
  • FOR: Filed Form 424B5.. Common Stock Having an Aggregate Offering Price of Up to $300,000,000
  • LTRY- Filed Form S-1.. Primary Offering of 30,125,000 Shares of Common Stock Secondary Offering of 25,394,798 Shares of Common Stock
  • RDHL: Underwritten Public Offering of American Depositary Shares.. Cantor bookmanager
• Pricing of Over-Allotment: None of note.
• Direct Offering:
  • KZR –  Kezar Life Sciences
• Selling Shareholders of note:
  • GFL: Secondary Offering of 12,658,228 Subordinate Voting Shares by Selling Shareholders– JPM Underwriter
  • EQT: Pricing Of Offering Of Common Stock By Selling Shareholders 10,973,685 shares .. Citi and RBC Bookmanagers
  • NEP – NextEra Energy Partners
  • ROVR: Pricing of Follow-On Offering by Selling Stockholders.. 6,000,000 shares @$10
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings:
  • VICI: Filed Form S-3ASR.. Mixed Shelf
• Convertible Offering & Notes Filed: None of note.
• Note Offerings Filed: 
  • HCC: Proposed $350 Million Offering of Senior Secured Notes

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: TUSK +35%, INTU +8%, XAIR +6%, NGVC +5%, PANW +4%, GLOB +3%, DDS +3%
  • Trading Down: CNTB -24%, FTCH -23%, AQB -20%, RDHL -12%, WDAY -9%, WSM -6%, MATW -5%, AMAT -5%, GFL -5%, EQT -4%, POST -4%, ROST -4%, BECN -3%

• News Items:
  • Facebook (FB) is offering to pay musicians, other celebrities tens of thousands of dollars to host sessions on its new live audio feature- the information
  • President Biden’s Budget Reconciliation Bill Heads to Vote on Friday as CBO Sees $367 Billion Deficit from the Bill (Bloomberg)
  • Workday (WDAY) names new CFO, acquires cloud company VNDLY (Market Watch)
  • Supply-Chain Snarls Deliver Windfalls to Wall Street (Wall Street Journal)
  • Federal Reserve Atlanta President Raphael Bostic says he expects it will be appropriate by next summer to normalize policy  (NPR Marketplace Interview)
• Stock Split: None of note.
• 13F Filing: None of note.
• Exchange/Listing News: None of note
• Buyback Announcements:
  • Element Solutions Inc (ESI) announces increase to stock repurchase authorization
  • United Comm Banks (UCBI)
  • UWM Holdings (UWMC)
• Dividends Announcements:
  • Brown-Forman (BF.B)
  • CRI – Carters
  • Dillard’s, Inc. (DDS) announces special dividend of $15.00 per share
  • Element Solutions Inc (ESI) declares Q4 dividend of $0.08 per share
  • KeyCorp (KEY)
  • Motorola Solutions (MSI)
  • National Storage Affiliates (NSA)
  • Nike, Inc. (NKE) announces 11 percent increase in quarterly dividend
  • Natural Grocers (NGVC)
  • Pepsi Co (PEP)

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

S&P 500 -13 Dow Jones Industrial Average -242 NASDAQ +80 Russell 2000 -35. Asia higher and Europe mixed. VIX is at 20.95 from 20.11 in futures from yesterday. Gold higher, silver lower and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $131.14 from $130.48  with yields at 1.522% from 1.601% yesterday morning. Bitcoin at $57,162 from $60,295 yesterday morning down -1.60% in early morning trading. As of 8:13 a.m. EST.

Thursday’s Action – 11/18 Close:  

• Daily Positive Sectors: Technology of note.
• Daily Negative Sectors: Financial, Basic Materials, Utilities, Energy, Healthcare. of note.
• One Month Winners: Consumer Cyclical, Technology, Industrials of note.
• Three Month Winners: Energy, Consumer Cyclical, and Technology of note.
• Six Month Winners: Technology Communication Services, Consumer Cyclical of note.
• Twelve Month Winners: Energy, Communication Services, and Technology of note.
• Year to Date Winners: Energy, Technology, and Communication Services  of note.

Stocks ended mostly up with NDX leading the charge at +1.07%.  UNG do I dare venture…was tame at +0.43% for a change. Updated 11/18 Close.

   

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

Gap Ups & Down In Early Pre-Market:

• • Gap Up: TUSK 30%, UWMC 25%, INTU 10%, GRCL 9%, LTRY 9%, SLI 8%, XAIR 7%, NGVC 5%, CAL 4%, DDS 3%, VXRT 3%, PANW 3%
  • Gap Down: AQB -27%, CNTB -26%, FTCH -22%, RDHL -10%, ECVT -10%, WSM -9%, WWD -8%, WDAY -8%, MATW -8%, AMAT -6%, GFL -5%, ROVR -4%, POST -4%, BECN -4%, BTX -3%, ROST -3%, EQT -3%

Insider Action: CLR sees Insider buying with dumb short selling and RPTX has smart short sellers with insider buys. 11/12 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:   FL, DDS, FTCH (CNBC)
• House delays vote on The Budget Reconciliation Bill until today. House Minority Leader Kevin McCarthy spoke for three hours last night delaying vote. (NYT)
• Senator Joe Manchin (D-WV), “the other president”, wants to meet with Federal Reserve Governor Lael Brainard and have another conversation with Federal Reserve Chairman Powell. (Bloomberg)
• U.S. and China in discussions to have a joint release of their reserves to lower price of oil. (Reuters)
• Japan shoots for a $490 billion stimulus. (WSJ)
• FDA likely to approve booster from Pfizer (PFE) and Moderna (MRNA) for all adults. (Politico)
• Tesla (TSLA)  is in a position to grab $2.5 trillion of EV market, top analys  -Electrek
• Philips (PHG) sleep apnea devices could have health risks. (WSJ)
• Vote on Social Policy Bill Delayed as McCarthy Keeps Talking (NY Times)
• Canada to authorize Pfizer’s (PFE) COVID-19 vaccine for children -(Reuters)
• Semiconductor Stocks Soar as Chip Shortage Persists (Wall Street Journal)
• The U.S. Chamber of Commerce is challenging Federal Trade Commission Chairwoman Lina Khan, contending in a series of letters that she is overstepping the agency’s legal authority. (WSJ)
• IdaCorp and Idaho Power Company (IDA) SVP/CFO Steven R. Keen has announced his intent to retire on October 1, 2022
• Austria re-imposes a full Covid lockdown and makes vaccination mandatory (CNBC)
• Robinhood looks at Nvidia (NVDA) that crushed earnings.  Looks at ConstitutionDAO.

Moving Average Update:

• Score decreases to 73% down from 76%. Updated 11/18 close.

 

Geopolitical: