CAPIS Morning Note -10/11: Stocks Lower, Merger Monday & Options Expiration Week Ahead

Morning Outlook- Markets are quiet this morning with Japan up 1.6% while China Flat and Europe little changed with S&P 500 down -0.50% which is the norm of late. Breaking News – Merck (MRK) asks FDA to approve Covid pill via Emergency Use Authorization. Fun Stat – “No Time To Die” pulls in $56 million in the…

Morning Outlook- Markets are quiet this morning with Japan up 1.6% while China Flat and Europe little changed with S&P 500 down -0.50% which is the norm of late.

Breaking News – Merck (MRK) asks FDA to approve Covid pill via Emergency Use Authorization.

Fun Stat – “No Time To Die” pulls in $56 million in the U.S. and $310 million globally. (CNBC)

Earnings Out After The Close

Beats: None of note.

Flat: None of note.

Misses: None of note.

Capital Raises: 

IPOs Priced or News:

New SPACs launched: 

Secondaries Priced:  None of note.

Notes Priced of note: of note.

Common Stock filings: NBRV of note.

Pricing of Over-Allotment: 

Direct Offering: 

Selling Shareholders of note:  SBOW RMBL AMWL of note.

Private Placement of Public Entity (PIPE): None of note.

Mixed Shelf Offerings:  CMPS CFG MCS   of note.

Convertible Offering & Notes Filed: None of note.

Note Offerings Filed:  None of note.

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close:

Biden Administration looking at an Executive Order for more oversight of Cryptocurrencies.

Boeing (BA) sees its 147 satellite system to deliver broadband in U.S. advances to a vote at FCC. (Bloomberg)

VIZIO (VZIO) Chief Technology Officer Bill Baxter intends to resign. (8K Filing)

Barron’s sees + NXST GTN PRU ICE and +/- FB ADBE MRK.

Dividend Announcements: Increases: CADE UHAL

Stock Split: 

Buyback Announcements: 

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

S&P 500 -21  Dow Jones Industrial Average -92   NASDAQ -127  Russell 2000 -9. Fair values are mixed. Asia mixed and Europe mixed. VIX is at 20.46 from 19.90 in futures from yesterday. Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.88 from $131.30 yesterday with yields at 1.61% from 1.579% Friday morning. Bitcoin at $56,205 from $54,848 up $779 or +1.41% in Monday morning trading.

Friday’s Action – 10/8 Close.  

Positive Sectors Friday: Energy, Financials and Materials of note.

Negative Sectors Friday: Real Estate, Utilities and Technology of note.

One Month Winners: Technology, Communication Services, Real Estate and Energy of note.

Three Month Winners: Technology, Communication Services and Healthcare of note.

Six Month Winners: Technology, Communication Services and Real Estate of note.

Twelve Month Winners: Communication Services, Energy, Technology, Financials and Industrials of note.

Year to Date: Energy, Communication Services, Energy, Financials, Real Estate and Technology of note.

Stocks were lower, Bonds were lower, U.S. Dollar lower and Commodities higher ex Natural Gas. Updated 10/08 Close.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: none of note.

Tuesday Before the Open: FAST, AZZ of note.

Earnings of Note This Morning:

Beats: None of note.

Flat: None of note.

Misses:  None of note.

Erlanger Research Advance/Decline Chart –Updated through 10/8 close.

Gap Ups & Down In Early Pre-Market:

Gap up: LQDA +8%, AMWL +5%, BDTX +4%

Gap Down: RGNX -3%

Insider Action: Of note,  SAFE sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/11

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

Stocks making the biggest moves LUV HOOD SOFI AAPL

Five Things To Know For Trading (CNBC)

China wants a peaceful unification with Taiwan. (The Washington Post)

Senator Bernie Sanders (D-VT) demands the $3.5 Trillion Budget Reconciliation Bill not a $1.5 Trillion Bill. (WSJ)

Senate Majority Leader Mitch McConnell sends note to President Biden says Republicans will not help extend Debt Ceiling and Dems will have to use reconciliation. (NYT)

Treasury Secretary Janet Yellen pushing a 15% global tax. (ABC News)

Emerson (EMR) looks to merge with Aspen Technology (AZPN) in $11 billion deal.

Southwest (LUV) cancels over 1,800 due to a combination of issues. (CNBC)

Southwest (LUV) pilots push courts to block vaccination mandate. (Bloomberg)

Robinhood looks at 

Moving Average Update

Score at 70% from 40% unchanged. Updated 10/8 Close.


The President departs Wilmington, Delaware en route the White House, 3:25 p.m. EST as he is taking the holiday off.

The President arrives at the White House, 4:20 p.m. EST

Fed Speakers:

Federal Reserve Chicago President Charles Evans speaks at 6:00 p.m. EDT.


Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NFIB Small Business Optimism Index, CPI, FOMC Minutes, PPI, Retail Sales, Empire Manufacturing and University of Michigan Consumer Sentiment.

M&A Activity:

Cleveland Cliffs (CLF) to buy Ferrous Processing for $775 million.

Supernus Pharmaceuticals (SUPN) to buy Adamas Pharmaceuticals (ADMS) for $8.10 a share.

Emerson (EMR) to merge with Aspen Technology (AZPN) with $87 in cash and 0.42 shares of Emerson stock.

Pacira  (PCRX) to buy Flexion Therapeutics (FLXN) for $8.50 a share.

New Residential Investment (NRZ) to buy Genesis Capital LLC.

Meeting & Conferences of Note:

Sellside Conferences: JP Morgan ASEAN Energy Day (10/11-12)

Company Meetings:   GOSS SRPT (Investor/Analyst Day) 

Conferences of Note:  10th Congress on Trends in Medical Mycology (10/8-11) American Society of Retina Specialists (ARS) Annual Scientific Meeting (10/8-12) Anesthesiology 2021 (10/8-12)

Upgrades & Downgrades: 

Friday Recommendations of Note: