• IPOs Priced or News:
  • Direct Digital (DRCT) 2.8M share IPO priced at $5.50.
  • TC Biopharm (TCBP) Announces Pricing of Upsized $17.5 Million Initial Public Offering and Nasdaq Listing.
• New SPACs launched/News:
  • FPAC Far Peak Acquisition: Bullish names David Bonanno as incoming CFO.
  • Growth Capital Acquisition Corp (GCAC) and Cepton Technologies close business combination and renamed to Cepton, Inc. It will begin trading today on the Nasdaq Capital Market under the ticker symbols “CPTN” and “CPTNW”.
• Secondaries Priced:
  • TWST: Pricing of an Upsized $250 Million Public Offering of Common Stock.. Priced @$55.
• Notes Priced of note: None of note.
• Common Stock filings/Notes:
  • DZSI: Filed Form S-3.. 10,093,015 Shares of Common Stock and $150Million Mixed Shelf.
  • ENVB: Proposed Public Offering.. Alliance bookmanager.
  • SRGA: Proposed Public Offering.. Wainwright Bookmanager.
• Pricing of Over-Allotment: None of note.
• Direct Offering: None of note.
• Selling Shareholders of note:
  • PHUN: Selling shareholders to sell 4.2 million shares of common stock.
  • DZSI: Selling shareholders to sell 10,093,015 shares.
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings:
  • KMB: Filed Form S-3ASR Mixed Shelf.
  • OSUR: Filed Form S-3 $300 Million Mixed Shelf.
  • PECO: Filed Form S-3ASR Mixed Shelf.
• Convertible Offering & Notes Filed:
  • Peabody (BTU) announces extension of the expiration date for its offer to purchase up to $38.607 million in aggregate accreted value of its 8.500% senior secured notes due 2024.
  • NCL Corporation Ltd. (NCLH) Announces Pricing of $2,035,000,000 of Senior Secured Notes, Senior Unsecured Notes and Exchangeable Notes.
  • OWL: pricing of senior notes offering.

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

News After The Close:

• After Hours: 
  • Trading Up: ZG +15%, XPEL +10%, CLLS +10%, BLDE +9%, MNTV +8%, SAVA +7%, RDFN +6%, NET +6%, BE +6%, YELP +6%, EXPE +6%, GDDY +6%, HUBS +5%, NGL +5%, BHF +4%, AVLR +4%.
  • Trading Down: NSP -17%, CFLT -9%, CC-6%, UPWK -6%.

• News After The Close:
  • Stocks making the biggest moves after hours: EXPE ZG NET UPWK  (CNBC)
  • California sues Tesla (TSLA), saying the company permitted racial discrimination at its factory. (NYT)
  • Cornerstone Building Brands (CNR) might have a bid from private equity for rest of the company.
  • Caesars Entertainment (CZR) receives sports wagering license in Washington and will expand efforts there.
  • Federal Reserve to Test Ability of Largest Banks to Weather Recession. JPM, GS (WSJ)
  • Citi (C) forecasts Federal Reserve to raise rates by 50 basis points in March. (CNBC)
  • Zillow (ZG) lost more than $230 million in its iBuying fire sale, but the stock is still surging (MarketWatch)
  • Zillow (ZG) 85% of its Homes segment inventory is sold or in agreement to be sold. Remaining homes to be sold by end of Q2.
  • Eli Lilly (LLY) announced an agreement with the US government to supply up to 600,000 doses of investigational drug bebtelovimab for at least $720 million.
  • Zendesk (ZEN) Board Rejects Unsolicited Non-Binding Acquisition Proposal From Consortium of Private Equity Firms. (MarketWatch)
  • Assets Under Management: Victory Capital (VCTR) $176.8 billion, AllianceBernstein (AB) $751 billion and AssetMark (AMK) at $90.5 billion.

• Exchange/Listing/Company Reorg and Personnel News:
  • SP Index Changes (prior to the opening of trading on Tuesday, February 15):
    • S&P MidCap 400 constituent Nordson (NDSN) will replace Xilinx (XLNX) in the S&P 500.
    • S&P SmallCap 600 constituent PDC Energy (PDCE) will replace Nordson in the S&P MidCap 400.
    • XPEL (XPEL) will replace PDC Energy in the S&P SmallCap 600.
    • S&P 500 constituent Advanced Micro (AMD) is acquiring Xilinx in a transaction expected to be completed on or about February 14.
  • Carlisle Companies Incorporated (CSL) announces that Kevin P. Zdimal has been named Vice President and Chief Financial Officer, effective March 1, 2022.
  • Cellectis (CLLS) announced the appointment of Bing C. Wang as CFO and member of the executive committee.
  • Exelon (EXC) announced the retirement of Mayo A. Shattuck III, chair of the company’s board of directors since 2012.
  • The Hillenbrand (HI) Board of Directors announced that it has elected to serve Helen W. Cornell as Vice Chairperson of the Board and to become Chairperson of the Board effective upon the retirement of F. Joseph Loughrey, the company’s current Chairperson.
  • Archaea Energy (LFG) announces that effective March 1, 2022, Eric Javidi, Chief Financial Officer, and Lindsay Ellis, General Counsel will step down from their respective positions.
  • Magna (MGA) Announces Board Leadership and Other Changes.
  • PREIT (PEI) Acknowledges Receipt of NYSE Continued Listing Standard Notice.
• Buyback Announcements:
  • British American Tobacco (BTI) announces share buyback of £2 billion of BAT ordinary shares.
  • Equitable Holdings (EQH) authorized new $1.2 billion repurchase program for 2022.
  • GoDaddy (GDDY) announces a $3 billion multi-year share repurchase plan.
  • Canada Goose (GOOS) Announces Grant of Regulatory Relief Regarding Share Repurchase Program up to 10% of public float on subordinate voting shares.
  • Tucows (TCX) Announces $40 Million Stock Buyback Program.
  • Western Union (WU) authorizes $1.0 billion for share repurchases.
• Stock Splits: None of note.
• Dividends Announcements:
  • Community Healthcare Trust (CHCT) increased quarterly dividend to $0.4375 per share from $0.435.
  • First National Corporation (FXNC) Announces 17% Increase in Cash Dividend.
  • Kite Realty (KRG) increases quarterly dividend $0.01 to $0.20 per share.
  • Magna (MGA) raised quarterly cash dividend to $0.45 per share, a 5% increase.
  • Monolithic Power (MPWR) announces a 25% increase in dividend.
  • RPT Realty (RPT) increases regular cash dividend $0.01 to $0.13 per share.
  • Robert Half (RHI) increases quarterly cash dividend $0.05 to $0.43 per share.
  • SITE Centers (SITC) increases quarterly dividend $0.01 to $0.13 per share.
  • Terex (TEX) increases quarterly dividend $0.01 to $0.13 per share.
  • Weyerhaeuser (WY) raises quarterly dividend to $0.17 per share, a 5.9% increase.

What’s Happening This Morning: Futures value reflects the change with fair value.

S&P 500 -8, Dow Jones -59, NASDAQ -22 and Russell 2000 -2.36  Asia and Europe lower. Japan closed today. VIX Futures are at 24.75 from 21.33 yesterday morning. Gold, Silver and Copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury with yields at 2.005% from 1.927%.  Bitcoin is at $43,581 from $44,840 down -1.15%. As of 8:15 a.m. EST

Monday’s Action – 02/10/22 Close:  

• Daily Positive Sectors: none of note.
• Daily Negative Sectors: Red Rover Red Rover – Send all the Sectors Over.  Technology, Utilities, Real Estate of note.
• One Month Winners: Energy and Financial of note.
• Three Month Winners: Energy, Consumer Defensive and Utilities of note.
• Six Month Winners: Energy, Financial, and Consumer Defensive of note.
• Twelve Month Winners: Energy, Real Estate, and Financials of note.
• Year to Date Winners: Energy and Financial of note.

Hey – who took the punch bowl away?  Hot CPI fueled the rate hike probabilities for March.  NDX was down 2.33%.  TLT fell 1.59% to 136.23.    Updated 02/10/22 close.

 

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

Gap Ups & Down In Early Pre-Market:

• Gap Up: ZG +14%, DZSI +9%, RDFN +9%, XPEL +9%, MNTV +7%, HUBS +6%, SAVA +6%, FLO +6%, GDDY +5%, ABCL +5%, EXPE +5%, BHF +4%, YELP +4%, NGL +4%, OPEN +4%, MPWR +4%.
• Gap Down: BL -12%, CFLT -11%, AFRM -10%, UPWK -7%, CC -6%, BARK -6%, DXCM -5%, PRO -5%, NSP -4%, FRSH -4%.

Insider Action: ALVR sees Insider buying with dumb short selling. ATGE, HBI sees Insider buying with smart short sellers. 02/10/22 close.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”.

• Stocks Making The Biggest Moves: UA, ZG, EXPE, ZEN, NWL. (CNBC)
• 5 Things To Know To Start Your Day. (Bloomberg)
• Zillow (ZG), Affirm (AFRM) , GoDaddy (GDDY) , Zendesk (ZEN): What to Watch When the Stock Market Opens Today (WSJ)
• Covid cases at 202,001 from 302,529 with hospitalizations at 99,535 from 124,134. (CDC)
• President Biden tells American citizens to leave Ukraine. President believes that removing mask mandates is a tough call. (NBC News)
• President Biden wants Senate to pass legislation on lower drug prices. (The Hill)
• Federal Reserve officials do not yet support a larger rate hike or an emergency hike despite comments yesterday from Federal Reserve St. Louis President James Bullard.
• Senate to vote on a continuing resolution to fund the government through March 11. (NY Daily News)
• Amazon (AMZN)to allow vaccinated workers  to remove masks. (WSJ)
• Russian Central Bank Raises Key Rate To 9.5% From 8.5% As Expected.
• Robinhood Snacks looks at Super Bowl ads see Crypto and Sports Betting lead the way. Uber (UBER) delivery service doing well as looks to shopping and flight bookings.

Moving Average Update:

• The score declines to 36% from 76%.  Updated 02/10/22 close.

Geopolitical: