- Beats: SAR +0.39 of note.
- Flat: None of note.
- Misses: None of note.
Capital Raises:
- IPOs For The Week:
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced:
- Secondaries Filed or Priced:
- CRNX announces proposed public offering of $400 mln of shares of its common stock
- DKL announces proposed public offering of $150 mln of common units
- Notes Priced:
- Direct Offering:
- Exchangeable Subordinate Voting Shares: None of note.
- Selling Shareholders of note:
- IMNM files for 230,415 shares of common stock offering by selling shareholder
- Debt/Credit Filing and Notes: None of note.
- Mixed Shelf Offerings:
- PIPE:
- Convertible Offering & Notes Filed:
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
Biggest Movers Up & Down After The Close:
- Movers Up: SAR +8.9%, ALAB +5%, ZETA +2.7%, INSM +2%.
- Movers Down: DKL -7.2%, IMNM -3.1%.
News After The Close:
-
- Boeing (BA) ratings, including its ‘BBB-‘ issuer credit rating, placed on CreditWatch Negative on strike-related financial risk
- Delta Air Lines (DAL) waives fare-differences; caps fares for new bookings ahead of Hurricane Milton
- Performance Food Group (PFGC) completes acquisition of Cheney Bros. and ups FY25 guidance
- Verisk Analytics (VRSK) estimates industry insured losses due to Hurricane Helene will range between $6-11 bln
- Granite Construction (GVA) announces signing of a $34 mln contract to implement seismic improvements to the Oakland International Airport
- Pfizer (PFE) CEO Albert Bourla planning to meet activist investor Starboard Value
- GD awarded $878 mln U.S. Navy contract modification and also awarded another $350 mln U.S. Navy contract modification
- CNS reports preliminary assets under management of $91.8 billion as of September 30, an increase of $3.7 billion from assets under management of $88.1 billion at August 31
- 10Q Delays: None of note.
- NASDAQ Delisting Notice: None of note.
Buybacks or Repurchases:
Exchange/Listing/Company Reorg and Personnel News:
- WOR names Joseph Hayek as President and CEO, effective November 1; replacing Andy rose, who is retiring and names Colin Souza as its new CFO, effective November 1; succeeds Joseph Hayek, who was named incoming CEO.
- ATEX appoints Scott Lang as President and CEO, effective Nov 1
- STZ names E. Yuri Hermida as its new EVP, Chief Growth & Strategy Officer
- DOCU to join S&P MidCap 400 and MDU Resources Group to join S&P SmallCap 600 replacing CHUY that is being bought by Darden (DRI).
Dividends Announcements or News:
- Stocks Ex Div Today: MA AMT BBVA LEN NYT GAP GNTX KRG IDCC HUYA BDN
- Stocks Ex Div Tomorrow: ORCL ACN VZ INTU T GIS DAL UDR LNC KAI BRC
What’s Happening This Morning: Futures S&P 500 -1 NASDAQ 100 -29 Dow Jones -9 Russell 2000 +10.42 (at 8:10 a.m. EDT). Asia is higher ex China while Europe is higher. VIX Futures are at 19.65 from 19.52 yesterday while Bonds are at 4.037% from 4.03% on the 10-Year. Crude Oil and Brent are lower with Natural Gas lower. Gold and Silver are higher with Copper lower. The U.S. Dollar is higher versus the Euro, higher versus the Pound and higher against the Yen. Bitcoin is at $62,059 from $62,541 lower by -121 -0.13% this morning.
Sector Action – (1/3/6/12/YTD Updated Weekly with Monday release):
- Daily Positive Sectors: Energy of note.
- Daily Negative Sectors: All others led by Utilities, Communication Services and Consumer Cyclicals of note.
- One Month Winners: Consumer Cyclicals, Materials, Communication Services and Technology of note.
- Three Month Winners: Utilities, Real Estate, Financials, Industrials, and Consumer Defensive of note.
- Six Month Winners: Utilities, Real Estate, mmmTechnology, Consumer Defensive and Financials of note.
- Twelve Month Winners: Technology, Utilities, Financials, Communication Services, Industrials and Real Estate note.
- Year to Date Winners: Technology, Utilities, Communication Services, Financials, Industrials and Consumer Defensive of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Wednesday After the Close: AZZ of note
- Thursday Before The Open:
Earnings of Note This Morning:
- Beats: HELE +0.16 of note.
- Flat: None of note.
- Misses: None of note.
- Still to Report: None.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Daily Update: The A/D Line saw weakness yesterday despite the strength in the S&P 500.
Gap Ups & Down In Early Pre-Market (+2% or down more than -2%):
- Gap Up: ALTM +30.2%, CLSD +13.5%, SAR +7.8%, ALAB +7.7%, SANA +4.9%, NVX +3.6%, ZETA +3%, MYGN +2%
- Gap Down: CRDL -11.7%, DKL -10.2%, MTAL -5.7%, IMNM -3.1%, PFGC -3.1%, CNS -3%, WDS -2.3%, CRNX -2.2%, CHSN -2%
Insider Action: None of note see Insider buying with dumb short selling. None of note see Insider buying with smart short sellers.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- 5 Things To Know Before The Market Opens. (CNBC)
- Pre-Market Movers: Check back for update. (CNBC)
- Bloomberg Lead Story: Chinese Stocks Tumble Most Since 2020 after dramatic run up. (Bloomberg)
- Markets Wrap: US Futures ease on Google risk and murky rate outlook. (Bloomberg)
- DOJ considers a breakup of Google (GOOGL). (CNBC)
- Hurricane Milton is expected to make landfall in Florida tomorrow morning. (Weather.com)
- Israel attempted to assassinate a ranking Hezbollah official in airstrike. (NYT)
- Investors continuing to lower expectations for China stimulus. (Reuters)
- Bayer shares drop on court review of Monsanto case. (CNBC)
- Boeing (BA) mulling options to raise billions through stock sale. (Reuters)
Economic:
- The Latest Federal Reserve Open Market Committee (FOMC) Meeting Minutes are due out at 2:00 p.m. EDT
- Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Geopolitical:
- President Biden receives the President’s Daily Brief at 10:00 a.m. EDT.
- President Biden and Vice President Harris are briefed on Hurricane Milton at 12:00 p.m. EDT.
Federal Reserve Speakers:
- Federal Reserve Atlanta President Raphael Bostic will speak at 8:00 a.m. EDT.
- Federal Reserve Dallas President Lorrie Logan will speak at 9:15 a.m. EDT.
- Federal Reserve Chicago President Austan Goolsbee will speak at 10:30 a.m. EDT.
- Federal Reserve Richmond President Thomas Barkin will speak at 12:15 a.m. EDT.
- Several other speakers after the close that we will cover in our Thursday note if warranted.
M&A Activity and News:
Moving Averages On Major Equity Indexes: Move to 77% positive from 57%. Our Weekly Full Asset Class Update shows weakness across all asset classes.
Meeting & Conferences of Note:
-
- Sellside Conferences:
- BTG – Latam CEO Conference
- CJS Securities Investor Briefings
- JP Morgan Software Forum
- ROTH Healthcare Opportunities Conference
- TD Cowen Therapeutics Conference
-
- Fireside Chat: None of note.
- Top Shareholder Meetings: AI, BNGO, BTBT
- Top Analyst, Investor Meetings: HBIO, LQDA, TECH, VSTO, WAVS
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event: None of note.
- Industry Meetings or Events:
- Annual Congress of the World Muscle Society
- Global Gaming Expo
- John Tumazos Very Independent Research Conference
- Octane Medical Innovation Forum
- Philadelphia Securities Association (PSA)
- Portzamparc BNP Sminaire Biotech & Sant
- RSI EXPO & Conference
Top Tier Sell-side 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: VNET NCLH MSCI LOW HD
Downgrades: XOM VALE FDS
