Overnight Summary & Early Morning Trading:
The S&P 500 finished Friday higher by 0.74% at 5525.21. Thursday higher by 2.03% at 5484.77. Futures are lower this morning by -5 (-0.09%) at 5546 around 6:00 a.m. EDT. The range is now 600 points on the S&P 500 cash for the year, 5500 to 6100. Year to date the S&P 500 is down -6.06% from -6.75% Thursday’s close.
Executive Summary:
Stocks are beginning to trade with less volatility as the VIX is down to 24.84.
Data Points of Note: Latest Short Interest Saw NYSE rise 1.15% and NASDAQ 0.42%. (Insert Charts)
Key Events of Note Today:
- Treasury Secretary Bessent on CNBC at 8:00 a.m. EDT.
Notable Earnings Out After The Close:
- Beats: None of note.
- Misses: None of note.
- Flat: None of note.
- IPOs For The Week: ALEH, EGG, OMSE, YB
- New IPOs/SPACs launched/News: None of note.
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- MODD: Form S-3.. 20,398,891 Shares of Common Stock
- Notes Priced: None of note.
- Notes Files: None of note.
- Convertibles Filed: None of note.
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements:
- Selling Shareholders of note: None of note.
- Mixed Shelf Offerings:
- NN files for 22,927,380 shares of common stock offering by selling shareholders.
- AAOI files for 7,945,399 shares of common stock offering by selling shareholder.
- TLSI files for 91,263 share common stock offering by selling shareholders.
- ACON: Form S-3.. $150,000,000 Mixed Shelf
- MIND: Form S-3.. $100,000,000 Mixed Shelf
- OMEX: Form 424B5 – $50,000,000 Mixed Shelf
- ZYXI: Form S-3.. $100,000,000 Mixed Shelf.
News After The Close:
- Spire Global (SPIR) completes previously announced sale of its maritime business to Kpler for $233.5 mln; used proceeds to retire all outstanding debt.
- Trump Administration lays out roadmap to streamline tariff talks.
- Barron’s +/- on BRKB.
- 10K or Qs Filings/Delays – (Filed), (Delayed) None of note.
Exchange/Listing/Company Reorg and Personnel News:
- RPAY announces that CFO Tim Murphy will be stepping down; Thomas Sullivan will be appointed as Interim CFO until a permanent replacement can be identified.
Buybacks:
- None of note.
Dividends Announcements or News:
- Stocks Ex Div Today: ASML BX EC CAG CIB ELPC ELP CE USAC PSEC
- Stocks Ex Div Tuesday of note: STZ FUL BANR
Stocks Moving Up & Down Last Week:
- Gap Up: RGNX (9.12 +53.45%), CRBP (8.08 +34%), DNLI (15.65 +22.84%), EBS (5.63 +21.75%), HCSG (13.53 +42.12%), SNBR (6.97 +32.01%), CSIQ (11.32 +51.74%), PI (92.16 +34.21%), PEGA (91.48 +33.85%), NOW (943.57 +22.2%), ICHR (21.11 +21.85%), MCHP (46.86 +21.52%) of note.
- Gap Down: HMY (15.36 -12.51%), IAG (6.97 -11.05%), SAIA (244.93 -26.79%), APOG (39.18 -13.97%), CBZ (66.69 -13.9%), NOC (471.82 -12.69%), ASGN (51.09 -12.27%), ENPH (46.95 -10.64%), HELE (28.42 -15.64%), CHDN (87.99 -13.2%), LKQ (36.96 -12.07%), APPF (190.94 -12.73%), SQQQ (31.96 -17.3%), KNSL (419.34 -13.66%), EGBN (17.62 -13.16%), FI (178.26 -14.57%), AGRO (9.96 -12.55%) of note.
What’s Happening This Morning: (as of 7:40 a.m. EDT)
Futures S&P 500 -11, NASDAQ -41 , Dow Jones -47. Europe is higher and Asia higher. Bonds are at 4.262% from 4.288% yesterday on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas higher. Gold, Silver and Copper lower. The U.S. Dollar is higher versus the Euro, lower against the Pound and higher against the Yen. Bitcoin is at $95,091 from $94,160 higher by $704 at +0.75%.
- Daily Positive Sectors: Consumer Cyclical, Technology, Communication Services, Energy and Healthcare.
- Daily Negative Sectors: Materials, Consumer Defensive, Financials and Real Estate of note.
- One Month Winners: Consumer Defensive of note.
- Three Month Winners: Consumer Defensive of note.
- Six Month Winners: Consumer Defensive and Financials of note.
- Twelve Month Winners: Utilities, Financials, Consumer Defensive, Real Estate, Communication Services, Consumer Cyclical and Technology of note.
- Year to Date Winners: Consumer Defensive, Utilities and Materials of note.
Bolded means the Sector is new to the period in which it falls.
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:
- Flat: None of note
- Beats: DPZ +0.27, RVTY +0.06, ROP +0.04, BKU +0.03 of note.
- Misses: INMD -0.03 of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: of note.
- Negative or Mixed Guidance: RVTY of note.
Advance/Decline Daily Update: The A/D crossed above its 30-day exponential moving average last week.
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: CGON +19.7%, AMPY +17.1%, NN +15.7%, FFAI +7.6%, RVMD +7%, MYGN +6.3%, RVTY +4.5%, URGN +3.9%, CX +3.9%, SPIR +3.4%, TM +3.3%, SPR +2.6%, TARA +2.1%, SWTX +2% of note.
- Gap Down: RPAY -20.4%, TLSI -9.1%, MXCT -6.2%, YMAB -2.4%, DPZ -2.4% of note.
Insider Action: None of note see Insider Buying with dumb short selling. None of note 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.
- Bloomberg: Trump Tells Americans Want Putin Wants Them To Hear. (Bloomberg)
- Market Wrap: . (Bloomberg)
- Trump’s China Tariffs set to unleash supply shock on U.S. economy. (Bloomberg)
- Meta’s (META) AI Spending comes into focus amid Trump tariff policies. (CNBC)
- Farmers say already in a full blown crisis. (CNBC)
- Bloomberg Odd Lots: Understanding the April Bond Yield Spike. (Podcast)
Bolded on story link means behind a Pay Wall.
Economic & Geopolitical:
- Economic Releases:
- Dallas Fed Manufacturing is released at 10:30 a.m. EDT.
- Federal Reserve Speakers of note today.
- Fed Speakers are back in Blackout period until next FOMC meeting is concluded.
- President Trump’s Daily Schedule.
- Press Conference at 9:30 a.m. EDT.
- President Trump and Vice President Vance is breaking up its artificial intelligence team. have lunch at 12:30 p.m. EDT.
- President Trump meets with the Speaker of the House at 2:00 p.m. EDT.
- The President participates in a Visit of the 2025 Super Bowl Champions – The Philadelphia Eagles at 4:00 p.m. EDT.
- President signs Executive Orders Focused on Restoring Law and Order and Securing the Homeland at 5:00 p.m. EDT.
M&A Activity and News:
- None of note.
Moving Average Table: Remains at 60% on Equity Indexes. TLT improved more on Friday.
Meeting & Conferences of Note:
- Sellside Conferences:
- Morgan Stanley Brazil Healthcare Day
- Shareholder Meetings: CR, GPC
- Top Analyst, Investor Meetings: CGON, RLMD, SNTI, TARA
- Fireside Chat: None of note.
- R&D Day: None of note.
- FDA Presentation:
- AACR
- ASGCT Annual Meeting
- CHRS: Data Presentation on CHS-114
- Industry Meetings or Events:
- Advanced Clean Transportation Expo
- American Urology Association
- Auto Shanghai
- NI Connect
- RSA Conference
- Trickle Research Microcap Conference
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.
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- Upgrades: CGNX EVRG JACK ONON PTON
- Downgrades: AGRO LLY
