Overnight Summary & Early Morning Trading:
- The S&P 500 finished Monday higher by 1.07% at 6735.13 from Friday higher by 0.54% at 6664.01.
- S&P 500 hit its 31st All-Time Closing High of 2025 on 10/08/25. It will be a while before a new high is hit.
- Futures are lower this morning by -5.00 (-0.07%) at 6769 on the S&P 500 around 6:10 a.m. EDT.
- Year to date the S&P 500 is up by 14.51% from 13.30% from Friday’s close.
Executive Summary:
- Apple (AAPL) is cranking away despite many doubters. The stock closed yesterday at $262.24. Seasonality is strong until next September.
Key Events of Note Today:
- Economic news of note today include the API Petroleum Report at 4:30 p.m. EDT.
- No Federal Reserve Speakers as they are in a blackout period until next Wednesday, October 29th.
- President Trump participates in events at 11:00 and 4:00 p.m. EDT while also hosting a lunch and dinner today.
Notable Earnings Out After The Close:
- Beats: WTFC +0.43, CCK +0.25, RLI +0.12, CADE +0.11, STLD +0.10, BOKF +0.05, ZION +0.02 of note.
- Misses: WRB -0.01 of note.
- Flat: None of note.
Capital Raises:
- IPOs For The Week: BGIN, DTDT, ELCG, MKTR, MMTX, NPT, POAS
- New IPOs/SPACs launched/News: None of note.
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- AGMH: Form F-1.. Up to 7,649,160 Class A Ordinary Shares.
- ATAI – Closing of Public Offering and Full Exercise of Option to Purchase Additional Common Shares.
- BTSG – Secondary Offering of Common Stock and Concurrent Share Repurchase.
- IRON – Pricing of $250 Million Upsized Public Offering of Common Stock and Pre-Funded Warrants.
- LXEO – Closing of Public Offering and Concurrent Private Placement and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares in the Public Offering.
- Notes Filed Or Priced: None of note.
- Convertibles Filed: None of note.
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements: None of note.
- Selling Shareholders of note: None of note.
- Mixed Shelf Offerings: None of note.
News After The Close:
- BrightSpring Health Services (BTSG) issues upside Q3 revenue guidance, raises FY25 guidance.
- LMT is working on moon lander that could serve as NASA’s alternative to SpaceX. (TradingView)
- 10-K Delays , 10-Q Delays: None of note.
Exchange/Listing/Company Reorg and Personnel News:
- SAM names Phil Hodges Chief Operating Officer, Phil Savastano has been promoted to Chief Supply Chain Officer.
- MLKN appoints Kevin Veltman as CFO.
Buybacks:
- ABCB announces $200 million increase to its stock repurchase program
Dividends Announcements or News:
- Stocks Ex Div Today of note: CRS DELL REPX of note.
- Stocks Ex Div Wednesday of note: APA AM CLX LOW of note.
What’s Happening This Morning: (as of 7:35 a.m. EDT)
- Futures S&P 500 +1 NASDAQ 100 -8.25 Dow Jones +10 Europe is higher ex Germany and Asia is higher. Bond yield is at 3.98% from 4.01% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas higher. Gold, Silver and Copper are lower. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $108,271 from $110,801 lower by -$2526 up by -2.24%.
- Daily Positive Sectors: All except for Consumer Defensive were higher.
- Daily Negative Sectors: Consumer Defensive was the only sector lower.
- One Month Winners: Communication Services, Technology, Materials, Energy, Consumer Cyclicals, and Utilities of note.
- Three-Month Winners: Communication Services, Technology, Materials, Energy, Consumer Cyclicals and Utilities of note.
- Six-Month Winners: Technology, Communication Services, Consumer Cyclicals, Materials and Industrials of note.
- Twelve-Month Winners: Communication Services, Technology, Financials, Consumer Cyclical, and Industrials of note.
- Year to Date Winners: Communication Services, Materials, Technology, Financials, Utilities, Industrials and Energy of note.
Bolded means the Sector is new to the period in which it falls.
Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Today After the Close:
- Wednesday Before The Open:
Notable Earnings of Note This Morning:
- Beats: NOC +1.23, ELV +1.10, GM +0.51, VMI +0.36, RTX +0.29, GE +0.20, DHR +0.17, PM +0.15, MMM+0.12, EFX +0.10, DGX +0.10 of note. (>0.10)
- Misses: MLI -0.11, GPC -0.01 of note.
- Flat: None of note.
- Still to Report: BMI GATX LMT PCAR of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Daily Update:
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- GapUp: DCGO +40.4%, CCK +8.2%, ELV +7%, RLI +6.7%, SPRO +5.2%, EPAM +5.2%, DHR +4.6%, IONQ +4.1%, URG +3.7%, CORZ +3%, LAC +2.3% of note.
- GapDown: GLPG -14.9%, PCRX -9.1%, HBCP -3.7%, SAM -2.3% of note.
Options Activity: Calls and Puts Top Ten Names Sorted Volume. Highlighted names are new to the most active list.
Insider Action: No stock sees Insider Buying with dumb short selling. No stockof note sees Insider Buying with smart short sellers. Above $100,000 in purchases.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- Bloomberg Lead Story: GM raises outlook as strong truck demand dulls tariff pain. (Bloomberg)
- Bloomberg Market Wrap: Stock rally fades as earnings roll in. (Bloomberg)
- Conservative leader Sanae Takaichi officially becomes Japan’s first female Prime Minister.
- President Trump is considering ways to pay air traffic controllers during the government shutdown. (Politico)
- Government shutdown could soon halt SNAP benefits. (Axios)
- Coinbase (COIN) aiming to acquire Echo for $375 million. (WSJ)
- Coca-Cola (KO) tops estimates but says demand still soft. (CNBC)
Bolded on story link means behind a Pay Wall.
Economic & Geopolitical:
- No Federal Reserve Speakers of note today due to Blackout Period prior to FOMC next week.
- Economic Releases:
- Weekly API Petroleum Report is due out at 4:30 p.m. EDT.
- President Trump:
- President Trump participates in the Richard Nixon Architect of Peace Award Ceremony at 11:00 a.m. EDT.
- President Trump hosts a Rose Garden Club Lunch.
- President Trump participates in a Diwali Celebration at 4:00 p.m. EDT.
- President Trump hosts a Rose Garden Club Dinner at 7:00 p.m. EDT.
M&A Activity & Daily Changes: None of note.
Moving Average Table:
Meeting & Conferences of Note:
- Sellside Conferences:
- BAC China Trailblazers Biotech Conference
- Canaccord Genuity Silver Conference
- Chardan Genetic Medicines Conference
- Jefferies Technology Private EquityConference
- Wainwright Global Investment Conference
- Top Analyst, Investor: AGEN, GPRK, WFC
- Shareholder Meetings: AIT, BEAM, KRNY, RENT, SOPA
- Fireside Chat: None of note.
- FDA Presentation: None of note.
- R&D Day: None of note.
- Meetings:
- American Banker’s Most Powerful Women in Banking Conference
- Early Detection of Cancer Conference (EDCC) 2025
- IQT Quantum + AI Summit
- LD Micro Conference
- Stocktoberfest
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: ES LBRT NXT PEP RUN TFC of note.
- Downgrades: CSIQ SMR (2) of note.
