CAPIS Morning Note – 06/26/26: Looks Like A Down Week

Overnight Summary and Early Morning Trading: The S&P 500 finished Thursday lower by -0.01% at 7537.49 from Wednesday lower by -0.10% at 7358.22. The S&P 500 sees support now at 7300 from 7400. Resistance is now at 7400 from 7500. In the last two months, support has moved from 6300 to 7300 S&P 500 hit its 25th […]

Overnight Summary and Early Morning Trading: 

  • The S&P 500 finished Thursday lower by -0.01% at 7537.49 from Wednesday lower by -0.10% at 7358.22.
  • The S&P 500 sees support now at 7300 from 7400. Resistance is now at 7400 from 7500. In the last two months, support has moved from 6300 to 7300
  • S&P 500 hit its 25th All-Time Closing High of 2026 on Tuesday, 6/2.
  • Bond Market is higher today on price with the 10-Year Yield at 4.378% from 4.41%.

Executive Summary:

  • Stocks were  in a two-week winning streak, with the S&P 500 gaining 0.93% in the last week. That will end this week.
  • U.S. moves into Week 18 of its attack on Iran. Is the deal really a deal and a conclusion to the war going to really happen this week or just another week of kicking the can down the road?
  • There have been four down -1% or more days in June so the potential for clustering rises, in other words more -1% days until month end.
  • 4 Day Losing Streak comes to an end?
  • Top 10 Decreases in Shares Short for NYSE and NASDAQ Stocks:

Key Geopolitical Events of Note:

  • Economic news of note.
  • Weekly –
    • Baker Hughes Rig Count of note.
  • Monthly-
    • University of Michigan Sentiment of note.
  • Fed Speakers of Note today: None of note.
  • President Trump’s schedule:  
    • Executive Time at 8:00 a.m. EDT.
    • Participates in a Policy Meeting at 10:30 a.m. EDT.
    • Receives his Intelligence Briefing at 11:00 a.m. EDT.
    • Delivers Remarks at the Faith & Freedom Coalition’s 2026 Policy Conference at 1:30 p.m. EDT.
    • Participates in a Policy Meeting at 3:30 p.m. EDT.
    • Participates in a Signing Time at 4:30 p.m. EDT.
    • Participates in a RNC Reception at 7:30 p.m. EDT.

Capital Raises of Note/Pricings:

  • IPO Filings & News: None of note.
  • Secondaries Filed Or Priced:
    • CELZ: FORM S-1 – Up to 3,045,685 Shares of Common Stock
  • Notes Filed Or Priced:
    • PSA Upsized $3.0 Billion Revolving Credit Facility, New $500 Million Term Loan, and Establishes $1.0 Billion Commercial Paper Program.
  • Convertible Offerings Filed or Priced: None of note.
  • Private Placement: None of note.
  • Direct Offering: None of note
  • Exchangeable Subordinate Voting Shares: None of note.
  • Selling Shareholders: None of note.
  • Mixed Shelf Offerings:
    • FRST: Form S-3.. $150,000,000 Mixed Shelf.
    • NEWT: Form S-3.. $650,000,000 Mixed Shelf.
    • QTTB: Form S-3.. $300,000,000 Mixed Shelf.

Notable Earnings Out After The Close: 

  • Beats:  None of note.
  • Misses: None of note.
  • Flat:  None of note.

Winners From After The Close:

  • TII +12.1%, SYNA +10.9%, RKLB +3.1%, IAUX +2.7%, BILL +2%, EQX +2%

Losers From After The Close:  

  • ON -8.6%, OMSE -6.9%,

After The Close:

  • MKS Inc. (MKSI) expanding manufacturing capability to enable next wave of AI build-out.
  • Truist (TFC) discloses Dodd-Frank Act Stress Test Disclosures on its site. (Releases) 
  • Trump Administration seeks staggered rollout of new OpenAI model over security concerns.
  • OpenAI leans toward pushing its IPO into next year. (NYT)
  • BILL announces that Jonathan Leaf will join the company as Chief Revenue Officer on July 6th.
  • Titan Mining (TII) selected by U.S. Army to establish first-ever public-private partnership for domestic critical minerals processing on strategic defense installations.
  • BitGo Holdings (BTGO) discloses that it will reduce its workforce by nearly 15%.

Executive, Corporate Changes:

  • FMAO promotes Eric Faust to Chief Operating Officer.
  • ASA announces Paul Kazarian has been appointed President and Principal Executive Officer.

Dividend Calendar:

  • Top Names Ex-Dividend Friday: DHR MDT CP HUM KDP RL ELS VMI FLS TRNO IRT TOWN CTS PSEC.
  • Top Names Ex-Dividend Monday: None of note.

What Happening This Morning:

Futures S&P 500 -32, NASDAQ 100 -326, Dow Jones -50. Europe is lower while Asia is mixed. Bond yield is at 4.37% from 4.41% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas higher. Gold higher, Silver lower and Copper higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and lower against the Yen. Bitcoin is at $61,247 from $61,247.

Sector Action: 

  • Daily Industrials, Healthcare, Materials, Energy and Utilities were higher.
  • Daily Consumer Cyclical, Communication Services, Consumer Defensive and Technology were 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: None.
  • Monday Before The Open: None.

Notable Earnings of Note This Morning: 

  • Beat: APOG +0.12 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 – None of note.
  • Mixed – None of none.
  • Negative or Mixed Guidance: After The Close & This Morning – None of note.

Advance/Decline Daily Update: Market Breadth remains in good shape

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

  • Gap Up:  TII +37.7%, WSE +6%, SYNA +5.2%, AVXL +4.7%, ASND +3%, IAUX +2.9%, EQX +2.7%, FMAO +2.2%, QTTB +2% of note
  • Gap Down: ON -12.8%, QMCO -5.2%, HIVE -3.4%, MKSI -2.8%, FLEX -2.5%, NEWT -2.4%, FDXF -2.2%  of note.

Insider Action: None see 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: How Iran Destroyed a U.S. Naval Base in Bahrain. (WSJ)
  • NY Times Lead Story: IBM Has Found A Way To Keep Shrinking The Technology Inside Chips. (NYT)
  • USA Today: Toy Story 5 Reignites Screen Time Debate. (USA Today)
  • Bloomberg: Technology Volatility Pulls Global Stocks Lower. (Bloomberg)

Economic & Geopolitical:

  • Federal Reserve Speakers of note today:
    • New York Federal Reserve President John Williams speaks at 10:30 a.m. EDT.
    • Minneapolis Federal Reserve President Neel Kashkari speaks at 11:30 a.m. EDT.
  • President Trump’s schedule for today:
    • Executive Time at 8:00 a.m. EDT.
    • Participates in a Policy Meeting at 10:30 a.m. EDT.
    • Receives his Intelligence Briefing at 11:00 a.m. EDT.
    • Delivers Remarks at the Faith & Freedom Coalition’s 2026 Policy Conference at 1:30 p.m. EDT.
    • Participates in a Policy Meeting at 3:30 p.m. EDT.
    • Participates in a Signing Time at 4:30 p.m. EDT.
    • Participates in a RNC Reception at 7:30 p.m. EDT.
  • Economic Data Out –
    • Weekly
      • Baker Hughes Rig Count out at 1:00 p.m. EDT.
    • Monthly
      • June University of Michigan Consumer Sentiment (final) is due out at 10;00 a.m. EDT and expected to stay at 48.90.

M&A Activity & Daily: None of note.

Moving Average Table: 66% from 88% of Equities are Positive, and 64% from 24% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Guggenheim BioFrontier
  • Top Analyst, Investor: BKR of note.
  • Shareholder Meetings: AEO, AMBA, AON, SIG, UTHR of note.
  • Fireside Chat: None of note.
  • FDA Presentation: None of note.
  • R&D Day: None of note.
  • Meetings: None of note.

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: ALGT BNED FCEL QCOM TNGX of note.

Downgrades: None of note.

Initiations:

      • Buys: BDC DYN FRST HOOD MOS NU NUTX PENN
      • Sells: None of note.