• IPOs Priced or News: None of note.
• New SPACs launched/News: None of note.
• Secondaries Priced:
  • Calithera Biosciences, Inc. (CALA) Prices $10.0 Million Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock.
  • GERN 53.3 million shares + warrants offering priced at $1.05.
  • IGMS 8.7 million shares offering priced at $23 PER share.
  • NWN Northwest Natural prices offering of 2.5 million shares of common stock at $50.00 per share.
• Notes Priced of note: None of note.
• Common Stock filings/Notes:
  • CALA: Commencement of Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock.. Leerink and Wainwright bookmanagers.
  • GERN: Proposed Public Offering of Common Stock and Warrants.. Stifel and Baird bookmanager.
  • HESM: Secondary Public Offering of Class A Shares.. 7,900,000 Class A shares .. Citi and GS Bookmanagers.
  • NWN: Common Stock Offering.. 2,500,000 shares.. WFC, JPM and RBC Bookmanagers.
  • SLGG: Filed Form 424B5.. Up to $10,100,000 in Shares of Common Stock.
  • UDR: Public Offering of 7,000,000 Shares of Common Stock.. MS and Citi bookmanagers.
  • Quantum (QMCO) commences previously announced rights offering to raise proceeds of up to $67.5 million.
• Pricing of Over-Allotment/Notes: None of note.
• Direct Offering: None of note.
• Selling Shareholders of note:
  • HealthStream (HSTM) files for $200 mln common stock offering; also files for $50 mln common stock offering by selling shareholders.
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings:
  • VLNS: Filed Form F-10.. $150,000,000 Mixed Shelf.
  • Abcam (ABCM) files mixed securities shelf offering.
• Convertible Offering & Notes Filed:
  • Churchill Downs Incorporated (CHDN) Announces Proposed Offering of $900 Million of Senior Notes due 2030..

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: VIR +9%, MLKN +9%, LULU +7%, HLTH +6%, MU +4%, RMO +4%.
  • Trading Down: GERN -17%, CHWY -13%, MVST -8%, NWN -6%, MTDR -4%, SPWH -4%.

• News After The Close:
  • Stocks making the biggest moves after hours: MU, LULU, RH, CHWY (CNBC)
  • Nielsen (NLSN) agrees to $16 billion private equity takeover. (NYT)
  • Bill Ackman’s Pershing Square Has Officially “Retired” From Activist Short-Selling  (Tweet) 
  • US House Energy And Commerce Committee To Hold Hearing Next Week With Six Oil Company Executives On Rising Gas Prices. (Reuters)
  • South Korea reports 424,641 new coronavirus cases and 432 new deaths.
  • Cannabis stocks are hot ahead of a House panel hearing on a federal legalization bill. On Wednesday, the House Rules Committee is set to hold a hearing on the MORE Act, which would decriminalize cannabis at the federal level. MJ (CNBC)
  • Russian/Ukraine News:
    • Kinross Gold (KGC) to divest Russian assets.

• Exchange/Listing/Company Reorg and Personnel News:
  • AMLX: Halted due to — FDA Advisory Committee Meeting to Discuss NDA for AMX0035 for the Treatment of ALS.
  • Crane Co. (CR) Announces Intention to Separate into Two Independent, Publicly Traded Companies.
  • Greenbrier (GBX) announces that President and CEO, Lorie Tekorius, has been elected to its Board of Directors.
  • Meta Financial (CASH) plans name change to “Pathward Financial”.
  • Rent-A-Center (RCII) announces management change.
  • Sunlight Financial (SUNL) Announces New Chief Financial Officer.
  • WeWork (WE) Announces New SoftBank Appointment to Board of Directors and Designates Chairman.
• Buyback Announcements:
  • BNTX Expects to authorize share repurchase program of up to $1.5 Billion.
  • lululemon athletica (LULU) authorizes $1 billion stock repurchase program.
  • Norfolk Southern (NSC) Announces New $10 Billion Stock Repurchase Program.
  • UBS announces launch of new share repurchase program of up to $6 billion.
• Stock Splits:
  • RH Announces Intention to Execute a 3-for-1 Stock Split.
• Dividends Announcements: None of note.
  • BNTX Will propose a special cash dividend of €2 per share.

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

S&P 500 -8 , Dow Jones -64 , NASDAQ -44 , and Russell 2000 -3 .  Europe and Asian markets mixed.  VIX Futures are at 22.15, lower from 22.59 yesterday morning. Gold, Silver and Copper higher. WTI Crude Oil and Brent Oil Futures are higher  with Natural Gas flat. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury sees yields at 2.422% from 2.503%. Bitcoin is at $47,362 from $47,642  yesterday morning lower by -0.84% this morning from overnight. As of 8:05 a.m. EDT.

Tuesday’s Action – 03/29/22 Close:  

• Daily Positive Sectors: Real Estate, Consumer Cyclical, Technology, Communication Services, Industrials, Healthcare, Consumer Defensive of note.
• Daily Negative Sectors: None 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 Basic Materials of note.
• Year to Date Winners: Energy, Utilities, and  Basic Materials of note.

Potential ceasefire heats up the markets.  Russell 2000 leads the way up with 2.65% return.  USO still traded up, closing at 76.15 for a 2.17% return.  Updated 03/29/22 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: HLTH +12%, VIR +11%, MLKN +9%, LULU +7%, RMO +6%.
• Gap Down: GERN -19%, VLNS -14%, CHWY -14%, IGMS -12%, MVST -10%, NWN -6%, MTDR -4%.

Insider Action: GWRS sees Insider buying with dumb short selling. RVMD, INDT sees Insider buying with smart short sellers. 03/29/22 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: BNTX, FIVE, LULU, MU, CHWY, RH  (CNBC)
• Five Things You Need to Know to Start Your Day. (Bloomberg)
• China is skeptical that sanctions on Russia will bring an end to Putin’s War. (Reuters)
• Chinese Foreign Minister Wan Yi says willing to increase cooperation with China. (Reuters)
• Russian Foreign Minister Lavrov lands in China for first visit since the war began. (Bloomberg)
• Senator Joe Manchin (D-WV) does not support President Biden’s proposal for 20% minimum tax on billionaires that was part of Biden budget. (The Hill)
• OPEC+ to keep with May output levels. (Bloomberg)
• Australia to introduce new Cyber Security Law (FT)
• 21 States file lawsuit to end mask mandate on airplanes and public transportation. (WSJ)
• Taiwan Semiconductor (TSM) sees demand for smartphones and PCs is starting to slowdown. (Digitimes)
• Kinross Gold (KGC) to divest Russian assets.
• Robinhood Snacks looks at U.S. Tax system after Turbo Tax is sued by government over free filing claim. BeReal spreads on college campuses as takes on Instagram (FB).

Moving Average Update:

• Score is at 96%.  We got our cow bell!  Updated 03/29/22 close.

Geopolitical: