• IPOs Priced or News: None of note.
• New SPACs launched/News:
  • Ligand (LGND) to Spin-Off its OmniAb Business Through Merger with Avista Public Acquisition Corp. II (AHPA).
• Secondaries Priced:
  • ARGX prices offering. 1.55 million shares priced at $300 per share.
  • APLS: Proposed Public Offering of Common Stock .. $300 million .. JPM, GS and Evercore bookmanagers.
  • JD Logistics (JD subsidiary) proposes to conduct a placing of new ordinary shares for an aggregate amount of up to approximately US$400 million.
  • RGTI: Filed Form S-1.. UP TO 19,354,059 shares of common stock issuable upon exercise of warrants.
  • Super Group (SGHC) files for 481,074,588 share common stock offering by selling shareholders.
• Notes Priced of note:
  • OMI: Upsize and Pricing of $600 Million of Senior Notes Due 2030.
• Common Stock filings/Notes:
  • Atmos Energy (ATO) files prospectus supplement disclosing entry into distribution agreement with sales agents regarding up to $1 billion in stock from time to time.
• Pricing of Over-Allotment/Notes: None of note.
• Direct Offering: None of note.
• Selling Shareholders of note: None of note.
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings: None of note.
• Convertible Offering & Notes Filed:
  • ASND: Proposed Convertible Senior Notes Offering of $500 million.
  • Humana (HUM) Completes Aggregate $750 Million Debt Offering.
  • Blackstone Mortgage Trust (BXMT) Announces Public Offering of Convertible Senior Notes.

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: OXM +8%, FUL +4%.
  • Trading Down: COOK -15%, APLS -7%, KBH -4%, ASND -4%, SCS -4%.

• News After The Close:
  • Stocks making the biggest moves after hours: KBH, SPOT, GME (CNBC)
  • California Governor Gavin Newsom proposes $11 billion relief package for higher gas prices.
  • The Biden administration will allow some Chinese imports to avoid Trump-era tariffs. (NYT)
  • Traeger (COOK) stock falls more than 11% after grilll maker calls for leaner sales this year. (MarketWatch)
  • Tommy Bahama parent Oxford (OXM) Industries beats Q4 view, raises dividend by 31%, (MarketWatch)
  • ‘Meme stock’ rally redux? GameStop (GME), AMC shares rocket higher. (Reuters)
  • Assets Under Management: RJF +17% y/y for AUA and +10% for AUM.
  • Russian/Ukraine News:
    • U.S. Sets Red Lines For China Helping Russia Dodge Sanctions. (Reuters).
    • White House To Seek $813.3 Billion National Security Budget.  (Bloomberg)
    • UK will provide 6,000 new defensive missiles and £25m for Ukraine’s armed forces.
    • Renault Shuts Down In Russia And Weighs Quitting Venture. (Bloomberg)
    • First U.S. arms shipment from President Biden’s $800 million package for Ukraine to soon start heading to Ukraine -U.S. Defense official.
    • Ukrainian Agriculture Minister Roman Leshchenko Has Resigned – Aide Confirms To Reuters Without Stating Reason. (Reuters)

• Exchange/Listing/Company Reorg and Personnel News:
  • Ashford (AINC) identified errors related to the recognition of cost reimbursement revenue and reimbursed expenses within subsidiary, Remington Lodging & Hospitality for certain insurance and hotel management related salaries.
  • Imago BioSciences (IMGO) appoints Michael Arenberg as Chief Operating and Business Officer.
  • PS Business Parks, Inc. (PSB) President and CEO Dan “Mac” Chandler, III Steps Down for Health Reasons; Stephen W. Wilson to Continue to Serve as Interim President and Chief Executive Officer.
  • RIOT Riot Blockchain discloses entrance into separation and release agreement with COO Megan Brooks-Anderson leaving 7/7.
  • Veoneer (VNE) reports planned date for closing of merger and future CEO.
  • Yunji (YJ) Has Regained Compliance with Nasdaq’s Minimum Bid Price Requirement.
• Buyback Announcements:
  • STGW $125 million Buyback announced.
  • Wix (WIX) is announcing today that its board authorized a program to repurchase up to $500 million of its securities from time to time. Wix intends to file a motion seeking court approval in Israel for its repurchase program, which is subject to receipt of court approval.
  • WPP plc (WPP) entered into £300 million share buyback program.
• Stock Splits: None of note.
• Dividends Announcements:
  • BankUnited (BKU) raises quarterly dividend to $0.25 per share, a 9% increase.
  • Oxford Industries (OXM) increases quarterly dividend to $0.55 per share, a 31% increase. (MarketWatch)

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

S&P 500 +21, Dow Jones +134, NASDAQ +85, and Russell 2000 +8.  Asia and Europe higher ex France. VIX Futures are at 24.55 from 25.19 yesterday morning. Gold and Silver higher with Copper lower. WTI Crude Oil and Brent Oil Futures are higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury sees yields at 2.363% from 2.368% yesterday. Bitcoin is at $43,157 from $42,005 yesterday at 2.16% this morning. As of 8:11 a.m. EDT.

Wednesday’s Action – 03/22/22 Close:  

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

Indexes declined across the board and oil rocketed higher.  The Russell 2000 was down 1.73%.  USO was up 4.32%.  Updated 03/23/22 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: OXM +6.5%, TCOM +6.2%, SOL +5.9%, PLTK +5.1%, FUL +5.1%.
• Gap Down: COOK -18.6%, ENJY -10.7%, MOMO -8%, APLS -6.9%, SCS -5.8%, JD -4.1%.

Insider Action: CECE, ASPN, GME, PLCE sees Insider buying with dumb short selling. No stock sees Insider buying with smart short sellers. 03/23/22 close.

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

• Stocks Making The Biggest Moves: KBH, SPOT, NKLA, FDS, GME, DRI (CNBC)
• Five Things You Need to Know to Start Your Day. (Bloomberg)
• NATO discussing actions if Russia uses nuclear or chemical weapons. (NYT)
• Major cities New York, Los Angeles, San Francisco and Chicago lost 700,000 residents in 2021 as flight from cities continues. (NYT)
• NATO estimates 7,000 to 15,000 Russian troops have been killed in Ukraine. (WSJ)
• U.S. to supply Europe with natural gas and hydrogen.  (Bloomberg)
• Hertz (HTZ) will add Tesla ((TSLA) Model Y to its fleet. (Reuters)
• Russia reopens its stocks market with only 15% of shares to trade, foreigners unable to sell shares and short selling banned. U.S. calls Russian market not a “real market”.
• Foreign investors have unloaded $9.5 billion of mainland Chinese stocks this month, reflecting a reassessment of geopolitical risk following the financial isolation of Russia.
• Beijing closes in on security pact that will allow Chinese troops in Solomon Islands. (FT)

Moving Average Update:

• The Doors song did not do it.  Need more cow bell!  Score slumps to 63% from 86%.  Updated 03/23/22 close.

Geopolitical: