CAPIS Morning Note – 06/11/26: Stocks Rallying This Morning Like The NY Knicks Did In The Second Half Last Night!!

Overnight Summary and Early Morning Trading: The S&P 500 finished Wednesday lower by -1.61% at 7266.99 from Tuesday lower by -0.26% at 7386.65. The S&P 500 sees support now at 7200 from 7300. Resistance is now at 7300 from 7400. In the last two months, support has moved from 6300 to 7200 S&P 500 hit its 25th […]

Overnight Summary and Early Morning Trading: 

  • The S&P 500 finished Wednesday lower by -1.61% at 7266.99 from Tuesday lower by -0.26% at 7386.65.
  • The S&P 500 sees support now at 7200 from 7300. Resistance is now at 7300 from 7400. In the last two months, support has moved from 6300 to 7200
  • S&P 500 hit its 25th All-Time Closing High of 2026 last Tuesday.
  • Futures are higher this morning by +52.50 (+0.72%) at 7331.50 on the SP 500 at 6:55 a.m. EDT.
  • Bond Market is higher today on price with the 10-Year Yield  unchanged at 4.526%.

Executive Summary:

  • Stocks ended its nine week winning streak, with the S&P 500 gaining 19.49% in the last nine weeks. This past week saw the S&P 500 drop -2.59%. We are now up 5.81% from 8.63% since the peak in January on the S&P 500 as of last Friday’s close.
  • U.S. moves into Week 16 of its attack on Iran. Is the ceasefire going to break with recent missile launches by all parties over the weekend?
  • Short Interest Shares Short continues to move higher but dollars short drops $600 billion in last 45 days (last three reports).

  • Top 10 Decreases in Shares Short for NYSE and NASDAQ Stocks:

Key Geopolitical Events of Note:

  • Economic news of note.
    • Weekly –  Jobless Claims and Natural Gas Inventories of note.
    • Monthly – PPI  of note.
  • Fed Speakers of Note today: Blackout period.
  • 30-Year Note Auction at 1:00 p.m. EDT.
  • President Trump’s schedule: 
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Signs a Proclamation at 3:00 p.m. EDT.
    • Participates in a Policy Meeting at 4:30 p.m. EDT.
    • Participates in a Tele-Rally at 6:30 p.m. EDT and 7:00 p.m. EDT.

Notable Earnings Out After The Close: 

  • Beats: ORCL +0.15, OXM +0.10, NAVN +0.07, SFIX +0.05 of note. 
  • Misses: None of note.
  • Flat: None of note.

Capital Raises of Note/Pricings:

  • IPO Filings: None of note.
  • Secondaries Filed Or Priced:
    • PCT files $145.0 million of shares of its common stock.
    • HUMA – Pricing of Public Offering of Common Stock
    • MTEN – Closing of $2.26 Million Registered Direct Offering
  • Notes Filed Or Priced:
  • Convertible Offerings Filed or Priced: None of note.
  • Private Placement:
    • STI – Closing of $35 Million Private Placement of Common Stock Priced Above Market Under Nasdaq Rules
  • Direct Offering: None of note
  • Exchangeable Subordinate Voting Shares: None of note.
  • Selling Shareholders:
    • SWMR files for 3,000,000 share common stock offering by selling shareholders
  • Mixed Shelf Offerings:
    • PCT files mixed securities shelf offering (

After The Close:

  • Oracle (ORCL) beats on earnings and revenues but will raise $40 billion so stock sells off.
  • Humana (HUM) signs definitive agreement with a consortium of investors to divest all or substantially all of its minority interest in Gentiva; Agreement values company’s stake at approximately $900 million.
  • Teradyne (TER) awarded a $139.9 mln Air Force contract for the purchase of versatile diagnostic automatic test station kits.
  • Microsoft notes that Xbox is in a hardware component crisis; expects another significant increase in component costs ahead of holiday 2027.
  • 10-Q Delays: DOMO of note.

Wednesday’s Winners:  

  • NAVN +18.5%, VACH +5.2%, FWDI +4.4%, SFIX +3.9%,  VERI +3.1%.

Wednesday’s Losers:

  • PCT -12.9%, OXM -12.2%, HUMA -11.9%, SWMR -9.4%, ORCL -4.2%,

Executive, Corporate Changes:

  • Voyager Acquisition Corp.: VERAXA Biotech to debut as a publicly traded company pioneering next-generation cancer therapies on June 11, new symbol VRXA.

Dividend Calendar:

  • Top Names Ex-Dividend Thursday: TSM BABA CRM FNV FIS LUV AGI JXN MCY ADT STVN SR MDU AMBP CASH KW TRIN of note.
  • Top Names Ex-Dividend Friday: CB ADP WMB AMT NDAQ ALB GPN DKS BR WCC TXT REG GLPI EG FHN RRC FRO NOV SNDR UBSI FFIN TNL INSW SBLK AAMI WS FLO CBL NSSC of note.
  • Caterpillar (CAT) increases quarterly dividend by 8%, or $0.12, to $1.63 per share.
  • Flexsteel (FLXS) increases quarterly cash dividend to $0.25/share from $0.20/share, payable July 6, 2026.
  • Annaly Capital (NLY) increases Q2 common stock cash dividend to $0.75/share from $0.70/share.

Buybacks:

What Happening This Morning:

Futures S&P 500 +41, NASDAQ 100 +280 Dow Jones +323. Europe is higher while Asia is lower ex Japan. Bond yield is at 4.526% from 4.526% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower. Gold, Silver and Copper are lower. The U.S. Dollar is lower versus the Euro, higher against the Pound and lower against the Yen. Bitcoin is at $63,088 from $61,330.

Sector Action: 

  • Daily Positive Sectors:  Consumer Defensive and Energy were the leaders.
  • Daily Negative Sectors: Industrials, Materials, Technology, Consumer Cyclical and Communication Services led the way lower.
  • One Month Winners: Technology, Communication Services, Consumer Defensive, Healthcare and Real Estate of note.
  • Three-Month Winners: Energy, Materials, Utilities, Consumer Defensive and Industrials of note.
  • Six-Month Winners: Energy, Materials, Utilities, Industrials, Healthcare and Consumer Defensive of note.
  • Twelve-Month Winners: Materials, Energy, Industrials, Utilities, Communication Services and Technology of note.
  • Year to Date Winners:  Energy, Materials, Consumer Defensive, Utilities and Industrials 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:

  • Thursday Before The Open:

Notable Earnings of Note This Morning: 

  • Beat: LOVE +0.29, DRVN +0.06 of note. 
  • Missed: None of note. 
  • Flat:  None of note.
  • Still to Report: None of note.

Company Earnings Guidance: 

  • Positive Guidance: After The Close & This Morning – NAVN  of note.
  • Mixed – ORCL OXM of none.
  • Negative or Mixed Guidance: After The Close & This Morning –  of note.

Advance/Decline Daily Update:

Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%): 

  • Gap Up: YB +12.3%, CBRL +9.8%, AIB +5.6%, STI +5.3%, CLLS +4.5%, HNGE +2% of note
  • Gap Down:  SMCI -10.3%, SUJA -6.7%, SMMT -6.2%, WOLF -5.9%, STTK -5.9%, AKR -3.7%, TSM -3%, GTLB -2.6%, FJET -2.4%, IIPR -2.2% of note.

Insider Action: None sees Insider Buying with dumb short selling. None see Insider Buying with smart short sellers. Above $100,000 in purchases with high shorts but no history: None of note.

Other Trading Action: None of note.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific. Bolded source means paywall.

  • WSJ Lead Story: U.S. Trades Fire With Iran For Second Day. (WSJ)
  • NY Times Lead Story: The New York Knicks Beat Spurs with Largest Comeback in NBA History Last Night. (NYT)
  • USA Today: US Aims to Negotiate With Bombs.  (USA Today)
  • Bloomberg: SpaceX IPO Will Mint Billions For A New Silicon Hierarchy. (Bloomberg)
  • Market Wrap: Stocks Bounce, Oil Falls as US Stops Iran Strikes. (Bloomberg)

Economic & Geopolitical:

  • Federal Reserve Speakers of note today:
    • Federal Reserve Black Out Period
  • President Trump’s schedule for today:
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Signs a Proclamation at 3:00 p.m. EDT.
    • Participates in a Policy Meeting at 4:30 p.m. EDT.
    • Participates in a Tele-Rally at 6:30 p.m. EDT and 7:00 p.m. EDT.
  • Economic Data Out –
    • Weekly
      • Natural Gas Inventories out at 10:30 a.m. EDT.
      • Jobless Claims are out and rose 8:00 a.m. EDT.
    • Monthly
      • May PPI is out at 8:30 a.m. EDT and expected to fall to 0.70% from 1.40%.
      • May Treasury Budget is out at 2:00 p.m. EDT and came in at $215 billion, that was a positive due to income tax payments.

M&A Activity & Daily: None of note.

Moving Average Table: 40% from 57% of Equities are Positive, and 8% from 8% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Benchmark Mineral Intelligence Giga USA
    • Benchmark StoneX’s Natural Resources Summit
    • Davidson Technology & Consumer Conference
    • Evercore Consumer & Retail Conf
    • FBN Technology Conference
    • Goldman Sachs Healthcare Conference
    • Jefferies Energy Conference
    • Mizuho Technology Conference
    • Morgan Stanley US Financials Conf
    • Oppenheimer Consumer Growth & ECommerce Conference
    • Raymond James Copper Conference
    • Rosenblatt Technology Summit – The Age of AI
    • Wells Fargo Industrials & Materials
  • Top Analyst, Investor: CGEM CNMD RBRK SCOR of note.
  • Shareholder Meetings: AAL CAT CMCSA DKS FCX FIS NDAQ SHAK TGT of note.
  • Fireside Chat: None of note.
  • FDA Presentation: None of note.
  • R&D Day: None of note.
  • Meetings:
    • Apple WWDC

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:  AJG CME GD HSIC INTC  of note.
Downgrades: HESM of note.