CAPIS Morning Note – 11/14/24: PPI Comes In At 0.2%, Some Core Data Higher. Stocks Still Higher.

• Beats: IBTA +0.59, BZH +0.34, HI +0.09, DGII +0.05, CSCO +0.04, KYTX +0.01, TTEK +0.01 of note.
• Flat: None of note.
• Misses: JJSF -0.25, SONO -0.04, HP -0.02, DLO -0.02, KLIC -0.02 of note.

• IPOs For The Week: AGH, JUNS, LHAI, MSW, NAMI, PRB, ZSPC
• New IPOs/SPACs launched/News:
• IPOs Filed/Priced:
• Secondaries Filed or Priced:
  • ZLAB commences public offering of $200 mln of ADSs 
  • VTR commencing public offering of 10,600,000 shares of its common stock
• Notes Priced:
• Direct Offering:
• Exchangeable Subordinate Voting Shares: None of note.
• Selling Shareholders of note:
  • ENGN files for 46,977,183 shares of common stock by selling shareholders
  • JTAI files for 350,000 shares of common stock by selling shareholder
• Mixed Shelf Offerings:
  • ENGN files $300 mln mixed shelf securities offering  
  • TIL files $200 mln mixed shelf securities offering
  • SEZL files mixed shelf securities offering
  • SLRN  files $400 mln mixed shelf securities offering 

• PIPE:
• Convertible Offerings & Notes Filed:
  • SYNA to offer $400 mln aggregate principal amount of convertible senior notes due 2031

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

Biggest Movers Up & Down After The Close:

• Movers Up: DLO +10.7%, DGII +8.6%, BZH +8.5%, SONO +7.5% of note. 
• Movers Down: HROW -21.2%, IBTA -15.9%, TSHA -12.7%, TTEK -7%  of note.

News After The Close:

• Itron (ITRI) and Pacific Gas and Electric Company (PCG) are collaborating to make electric vehicle (EV) charging more accessible and affordable for PG&E’s customer\
• Holdings at Hedge Funds are out with the latest 13-F filings, Of note yesterday Soros, Baupost, Trion, Lansdowne,
• Eli Lilly (LLY) sees treatment with Trizepatide in adults with pre-diabetes and obesity or overweight resulted in sustained weight loss and nearly 99% remained diabetes-free at 176 weeks
• NOC awarded $541 mln U.S. Missile Defense Agency contract
• 10-K Delays – DFS, QTRX, EVLV, RILY, DDD.
• Barron’s: + on SMPL NVDA TSLA CHTR FSLR  (Barron’s)

Buybacks or Repurchases: 

• MKL approves new share repurchase program for up to $2.0 bln

Exchange/Listing/Company Reorg and Personnel News:

Dividends Announcements or News:

• Stocks Ex Div Today: XOM TJX COF FANG URI IR WEC TPG LPLA SBAC EXE CTRA FTAI FIX PR CCK LXQ VNOM ZION IVZ CGNX KBH
• Stocks Ex Div Tomorrow:  LLY SHEL RTX HON SBUX SHW CTAS DUK CEG EMR GSK MMM HLT COR MSCI KR GLW OTIS CCEP SW CHD BAH CSL IP MRO RPRX JBL CF SJM AFG PAG WAL WING WYNN TFX OSK MTDR AGCO MSA WHR

What’s Happening This Morning: Futures S&P 500 +6 NASDAQ +2 Dow Jones +103 Russell 2000 +20.53(at 8:20 a.m. EDT). Asia is lower ex Australia and Europe is higher. VIX Futures are at 15.35 from 15.95 yesterday while Bonds are at 4.41% from 4.42% on the 10-Year. Crude Oil and Brent are higher with Natural Gas lower. Gold, Silver and Copper lower. The U.S. Dollar is higher versus the Euro, higher versus the Pound and higher against the Yen. Bitcoin is at $91,005 from $87,847 higher by +444 by +0.51% this morning.

• Daily Positive Sectors: Consumer Cyclical, Real Estate, Energy and Consumer Defensive of note.
• Daily Negative Sectors: Communication Services, Materials, Healthcare and Technology 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 of note.
• Twelve Month Winners: Technology, Financials, Utilities, Communication Services and Industrials note.
• Year to Date Winners:  Technology, Communication Services, Financials and Utilities of note.

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

• Gap Up: DLO +16.7%, ZETA +16%, DGII +8.7%, BZH +8.2%, NN +8%, TARS +7.5%, SONO +5.8%, KSCP +4.7%, BXC +4.1%, NTES +3.9%, TIL +3.8%, CNH +3.5%, PTCT +3.3%, ODD +3.1%, CBRL +2.9%, ASML +2.9%, EXAS +2.4%, MKL +2.2%, SYNA +2%

• Gap Down:HROW -26.7%, IBTA -21.9%, TSHA -14%, TTEK -10.2%, JTAI -9.5%, BILI -6%, NU -5.7%, NICE -5%, DADA -4.5%, CSCO -4.4%, DMAC -4.2%, JD -4.2%, ZK -4.1%, BV -3.7%, HP -3.3%, ZLAB -2.8%, RYTM -2.6%, BABA -2%, JJSF -2%, DDD -2%

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.

• 5 Things To Know Before The Market Opens. (CNBC)
• Bloomberg Lead Story: Trump’s Unconventional Picks All Share One Trait, Loyalty. (Bloomberg)
• Markets Wrap: US Futures see futures rise for stocks and the Dollar before Powell appearance. (Bloomberg)
• AMD to lay off 4% of their workforce. (CNBC)
• Odd Lots: Clarida sees a tricky moment for the Fed. (Podcast)
• The Big Take: Lula’s embrace of Xi sets up a clash over Trump’s China policy. (Podcast)

M&A Activity and News:

• Capri (CPRI) and Tapestry (TPR) cancel merger.

Moving Averages On Major Equity Indexes: Move from 90% to 80%. Other asset classes continue to struggle.

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: SU MT INSG BXP 

Downgrades: KRC JXN GWH