Overnight Summary: The S&P 500 closed Friday higher by 0.38% at 5995.54 from Thursday higher by 0.74% at 5973.10. The overnight high was hit at 6044.75 at 3:35 a.m. EDT and the low was hit at 6029.50 at 6:00 p.m. EDT. The overnight range is 15 points. The current price is 6042.75 at 6:55 a.m. EDT higher by +17 points higher by +0.28%.
Executive Summary: Economic Indicators due out this week include CPI, PPI, Retail Sales, Import/Export Prices, NY Fed Empire Manufacturing and Industrial Production.
Articles of Note: “Trump and Musk: The Bromance That Cannot Last”. by David Nasaw (NYT)
Key Events of Note Today:
- No economic releases of note today.
- Today is Veterans Day and the Bond Market is closed as well as most banks and government offices. Thank a Veteran if you know one!
Notable Earnings Out After The Close
- Beats: None of note.
- Flat: None of note.
- Misses: HE -0.07.
- IPOs For The Week: AGH, JUNS, LHAI, MSW, NAMI, PRB, ZSPC
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced:
- Secondaries Filed or Priced:
- AGAE: Form S-3.. 6,000,000 Shares of Common Stock
- BFRG: Form S-1.. 1,565,000 Shares of Common Stock underlying Common Warrants 62,600 Shares
of Common Stock underlying Placement Agent Warrants - CELZ: Form S-1.. 837,104 Shares of Common Stock
- LRHC: Form S-1.. UP TO 1,460,826 SHARES OF COMMON STOCK
- Notes Priced:
- Direct Offering:
- Exchangeable Subordinate Voting Shares: None of note.
- Selling Shareholders of note:
- Mixed Shelf Offerings:
- FBRT files mixed shelf securities offering.
- SAND files mixed shelf securities offering.
- VNRX files $100 million mixed shelf securities offering
- PIPE:
- Convertible Offerings & Notes Filed:
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
Biggest Movers Up & Down For The Week:
- Movers Up: RIGL (21.00 +47.89%), RYTM (66.47 +35.63%), AGIO (59.27 +32.08%), EBS (11.98 +31.36%), QURE (7.61 +29.86%), KRNT (30.61 +32.91%), BE (13.18 +32.6%), MRCY (43.28 +30.44%), LIND (13.86 +47.45%), TSLA (326.18 +31.01%), AAOI (27.57 +63.69%), KLXE (5.76 +35.53%), SOI (17.02 +31.73%) of note.
- Movers Down: EVH (13.92 -40.69%), EXAS (51.81 -25.77%), AMN (29.01 -21.38%), CE (85.88 -31.2%), RUN (9.91 -32.89%), JELD (11.01 -22.68%), IRBT (6.87 -28.12%), COMM (4.70 -30.85%), SEDG (13.68 -22.7%), BGS (6.52 -24.36%) of note.
News After The Close:
- Booking Holdings (BKNG) to implement certain organizational changes, including modernizing processes and systems and an expected workforce reduction
- TXT awarded two $394 mln U.S. Navy contract modifications
- 10-K Delays –
- Barron’s: + on CWH CRGY KGS. – on CEG VST VLN. (Barron’s)
Buybacks or Repurchases:
Exchange/Listing/Company Reorg and Personnel News:
- RDUS appoints Marc Hathhorn as COO, effective Nov 1, 2024
Dividends Announcements or News:
- Stocks Ex Div Today: None of note.
- Stocks Ex Div Tomorrow: V IBM DHI PPG AWK ROL MT RYAN RGA WTRG OMF HR MAC OGN CWT HTLF KMT WMK CNXN NMM TNK WLFC AGRO DK
What’s Happening This Morning: Futures S&P 500 +25.75 NASDAQ +101.50 Dow Jones +200 Russell 2000 +38.76(at 8:20 a.m. EDT). Asia is lower ex Japan and Europe is higher. VIX Futures are at 15.56 from 16.01 yesterday while Bonds are at 4.306% from 4.312% on the 10-Year. Crude Oil and Brent are lower with Natural Gas higher. Gold, Silver and Copper lower for a second session in a row. The U.S. Dollar is higher versus the Euro, higher versus the Pound and higher against the Yen. Bitcoin is at $81,600 from $76,077 higher by +2261 higher by 2.94% this morning.
- Daily Positive Sectors: Utilities, Real Estate, Consumer Defensive, Industrials and Healthcareof note.
- Daily Negative Sectors: Financials and Industrials of note.
- One Month Winners: Communication Services, Financials, Consumer Cyclicals, Industrials and Technology and of note.
- Three Month Winners: Consumer Cyclicals, Technology, Financials, Industrials and Communication Services of note.
- Six Month Winners: Technology, Utilities, Real Estate, Financials, and Consumer Cyclical
Communication Servicesof note. - Twelve Month Winners: Technology, Financials, Utilities, Communication Services and Industrials note.
- Year to Date Winners: Technology,
Materials, Communication Services, Financials and UtilitiesEnergyof note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Monday After the Close:
- Tuesday Before The Open:
Notable Earnings of Note This Morning:
- Beats: MNDY +0.21, ARMK +0.02 of note. (greater than +0.05)
- Flat: None of note.
- Misses: SPNS -0.01 of note.
- Still to Report:
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: SPNS of note.
Advance/Decline Daily Update: The A/D Line continues its rebound on its weekly review.
Gap Ups & Down In Early Pre-Market (+2% or down more than -2%):
- Gap Up: EVO +24.9%, CAN +18.3%, NVX +16%, HIVE +15.7%, AUTL +12.6%, RDNT +9.4%, IMMR +7.4%, ARMK +6.7%, CRVS +5.7%, PTON +4.6%, FATE +4.1%, IDYA +3%, APP +2.8%, NWN +2.4%, NWG +2.1%, RARE +2.1%
- GapDown: SPNS -22.2%, SMR -4.4%, DM -2.8%.
Insider Action: No names see Insider buying with dumb short selling. No names see Insider buying with smart short sellers.\
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- Pre-Market Movers: TSLA COIN CSCO. (CNBC)
- 5 Things To Know Before The Market Opens. (CNBC)
- Bloomberg Lead Story: Bitcoin Soars Above $82,000. (Bloomberg)
- Markets Wrap: US Futures signal Wall Street rally to extend. (Bloomberg)
- Cigna (CI) is not pursuing a merger with Humana (HUM).
- Trump names Tom Homan as the Border Czar. (CNBC)
- Market feels familiar frustration with China. (Reuters)
- NYT Daily: Democrats search for answers. (Podcast)
- The Big Take: What A Trump Win Means For His Businesses. (Podcast)
- Odd Lots: Can we derisk the banking system? (Podcast)
- Marketplace: School phone bans connect to many issues. (Podcast)
- Wealthion: Trump 2.0. (Podcast)
Economic:
- None of note.
Geopolitical:
- No Federal Reserve speakers of note today.
- President Biden receives the Daily Briefing at 11:45 a.m. EDT
- Watch our Twitter feed, Bullet86, for any impromptu appearances.
M&A Activity and News:
Moving Averages On Major Equity Indexes: Remains at 100%. Other asset classes continue to struggle.
Meeting & Conferences of Note:
-
- Sellside Conferences:
- Guggenheim Healthcare Innovation Conf
- UBS Global Healthcare Conference
- Sellside Conferences:
-
- Fireside Chat: None of note.
- Top Shareholder Meetings: ADCT
- Top Analyst, Investor Meetings: BRCC, NGNE
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event: None of note.
- Industry Meetings or Events:
- CPEEC & CPSSC 2024
- Dimensions User Conference
- Edison Electric Institute Financial Conf
- Inaugural Sport United Conference
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 is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.
Upgrades: AKAM STN SKT WGO UEIC CBOE BASFY
Downgrades: NRDY CE CBT
