CAPIS Morning Note – 07/06/26: Stocks Higher To Start Week

Overnight Summary and Early Morning Trading: The S&P 500 finished Thursday higher by 0.0001% at 7483.24 from Wednesday lower by -0.22% at 7483.23. The S&P 500 sees support now at 7400 from 7300. Resistance is now at 7500 from 7400. In the last two months, support has moved from 6300 to 7400 S&P 500 hit […]

Overnight Summary and Early Morning Trading:

  • The S&P 500 finished Thursday higher by 0.0001% at 7483.24 from Wednesday lower by -0.22% at 7483.23.
  • The S&P 500 sees support now at 7400 from 7300. Resistance is now at 7500 from 7400. In the last two months, support has moved from 6300 to 7400
  • S&P 500 hit its 25th All-Time Closing High of 2026 on Tuesday, 6/2.
  • Bond Market is lower today on price with the 10-Year Yield at 4.459% from 4.495%

Executive Summary:

  • Stocks are now in a two-week winning streak, with the S&P 500 gaining 1.76% in the last week.
  • U.S. moves into Week 20 of its attack on Iran, almost six months. 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?
  • 1 Day Winning Streak on the S&P 500 started Thursday.
  • Crazy Stat: 87% of QQQ Options Volume and 78% of SPX Options Volume see fewer than five days to expiration.

Key Geopolitical Events of Note:

  • Economic news of note.
  • 3 & 6 Month Bill Auction at 11:00 a.m. EDT.
  • Weekly –
    • None of note.
  • Monthly-
    • Global U.S. Services PMI (final)  and ISM Non-Manufacturing Index of note this morning.
  • Fed Speakers of Note today: Federal Reserve Governor Waller at 11:00 a.m. EDT.
  • President Trump’s schedule:
    • Nothing on the agenda today as he heads to the NATO Summit.

Capital Raises of Note/Pricings:

  • IPO Filings & News: None of note.
  • Secondaries Filed Or Priced:
    • AKTX: Form S-3.. 479,999,920,000 Ordinary Shares Represented by 5,999,999 American Depositary Shares.
    • CYCU: Form S-1.. Up to 25,000,000 Shares of Common Stock Issued or Issuable under the Equity Purchase Agreement.
    • FABC: Form S-3.. 187,197,294 Shares of Common Stock.
    • PRSO: Form S-1.. Up to 31,750,000 Shares of Common Stock.
    • SMTK: Form S-3.. 160,260,999 Shares of Common Stock.
    • BRUN files for 58,738,753 share class A common stock offering .
  • Notes Filed Or Priced: None of note..
  • 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:
    • JCAP files for 32,721,807 share common stock offering by selling stockholders.
    • VNOM files prospectus supplement; relates to proposed resale of up to 3,691,796 shares by selling stockholders.  
  • Mixed Shelf Offerings:
    • AON: Form S-3ASR Mixed Shelf.
    • BBCP – FORM S-3 – $300,000,000 Mixed Shelf Offering.
    • IESC files mixed securities shelf offering.
    • INO: FORM S-3 – $300,000,000 Mixed Shelf Offering.
    • JCAP files for $100 million mixed securities shelf offering.
    • LVLU: FORM S-3 –  $7,500,000 Mixed Shelf.
    • TEN: Form F-3ASR Mixed Shelf.

Notable Earnings Out After The Close:

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

Winners From Last Week: CCXI (19.11 +37.88%), QDEL (18.16 +31.69%), RGNX (13.31 +27%), CYH (3.86 +17.68%), MRNA (79.08 +17.55%), AVAV (189.58 +37.43%), KTOS (54.78 +16.03%), JACK (17.04 +23.35%), TENB (38.13 +26.17%), AMBA (77.53 +24.78%), DOMO (3.54 +20.41%), QLYS (147.37 +19.55%), SAIL (15.42 +16.96%).

Losers From Last Week: APOG (39.92 -18.4%), AAON (105.97 -16.41%), ATRO (71.4 -15.32%), SSTK (9.85 -30.63%),MEI (15.29 -20.2%), TTMI (153.82 -19.67%), VECO (57.79 -18.55%), TER (365.07 -16.43%), ACLS (146.15 -15.63%), MU (959.34 -15.28%), MTSI (316.19 -14.35%), STI (7.74 -37.28%), PUMP (12.09 -18.34%).

After The Close:

  • Lockheed Martin (LMT) emerges as frontrunner to acquire Ultra Maritime for around $3.5 billion.
  • Midera Food Processing (MFP) will replace Redwood Trust (RWT) effective prior to the opening of trading on Wednesday, July 8.
  • Centrus Energy (LEU) will replace Whitestone REIT (WSR) effective prior to the opening of trading on Tuesday, July 14.
  • Cruscoe in talks with to raise $3 billion. (Bloomberg)
  • CNBC Interviewed President Trump on Thursday after the close. (CNBC)

Executive, Corporate Changes:

  • FUN names Mark Pauls as COO.

Buybacks of Note:

  • TCBX to buy up to $30 million of its common stock and will expire on June 30, 2027.

Dividend Calendar:

  • JPM CSCO GE ASX BBDO BBD IEX GL MKC OGE CMC BMA ZGN CUZ MRP KFY WERN of note for today.

What Happening This Morning:

Futures S&P 500 +33, NASDAQ 100 +331, Dow Jones -25. Europe and Asia are mixed. Bond yield is at 4.459% from 4.495% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas higher. Gold, Silver and Copper are higher. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $62,919 from $61,264.

Sector Action:

  • Daily Healthcare, Consumer Defensive, Materials, Utilities and Real Estate were higher.
  • Daily Technology, Communication Services and Consumer Cyclical 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 of note.
  • Tuesday Before The Open: None of note.

Notable Earnings of Note This Morning:

  • Beat: None 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: FIZZ +7.6%, of note
  • Gap Down: ELTX -22.4%,

Insider Action: SLGL HDSN 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.

  • The White House Campaign to Overturn A World Cup Red Card. (WSJ)
  • Facing Threats, NATO Finds New Value in Turkey. (NYT)
  • Exclusive: Young Castro Wants Trump to Deal, He Says in First U.S. Interview. (USA Today)
  • Trump Headed To NATO Summit. (Bloomberg)

Economic & Geopolitical:

  • Federal Reserve Speakers of note today:
    • Federal Reserve Governor Christopher Waller speaks at 11:00 a.m. EDT.
  • President Trump’s schedule for today:
    • Heads to the NATO Summit today.
  • Economic Data Out –
    • Weekly
      • None of note.
    • Monthly
      • June Global U.S. Services PMI (final) are out at 9:45 a.m. EDT and came in May at 51.30.
      • June ISM Non-Manufacturing Index is also out at 10:00 a.m. EDT and expected to fall to 54.20% from 54.50%.

M&A Activity & Daily: None of note.

Moving Average Table: 77% of Equities are Positive, and 0% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Bank of America Convertible Bond Investor Conference
  • Top Analyst, Investor: CPRT ZETA of note.
  • Shareholder Meetings: AUID 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: AEM FLG GILD TMUS UBS of note.

Downgrades: BRO EH JBHT JBLU LSTR RF of note.

Initiations:   Buys: GKOS PBLS WHK of note.  Sells: None of note.