• IPOs Priced or News:
  • GOGN: GoGreen Investments Corporation Announces Upsizing and Pricing of $240,000,000 Initial Public Offering
  • PTLO: Pricing of Initial Public Offering.. 20,270,270 shares @$20
  • ENFN Enfusion (NYSE) prices 18.75 mln share IPO at $17.00 per share, at the high end of the $15-17 expected range
  • COCO The Vita Coco Company (Nasdaq) prices 11.5 mln share IPO at $15.00 per share, below the $18-21 expected range
  • PX P10, Inc (NYSE) prices 20 mln share IPO at $12.00 per share, below the $14-16 expected range
  • VTYX Ventyx Biosciences (Nasdaq) prices 9,472,656 share IPO at $16.00 per share, at the midpoint of the $15-17 expected range
  • RWAY Runway Growth Finance (Nasdaq) prices 6.85 mln share IPO at $14.60, at the low end of the $14.60-15.60 expected range
• New SPACs launched:
  • TMTG Trump Media and Technology Group going public via SPAC, valued at $1.7 billion
• Secondaries Priced:
  • RWLK: Filed Form S-3.. 8,967,570 Ordinary Shares
  • KERN: Filed Form S-3.. 37,037,037 SHARES OF COMMON STOCK
  • TASK TaskUs prices secondary offering of 10 mln shares of common stock at $63.50 per share
  • DLO dLocal Limited prices secondary offering of 17.0 mln shares of common stock at $52.25 per share
  • HPK HighPeak Energy prices offering of 2.2 mln shares of common stock at $10.00 per share
• Notes Priced of note: None of note
• Common Stock filings:
  • SHPW Shapeways files for 35,504,051 share common stock offering
• Pricing of Over-Allotment: None of note
• Direct Offering:
  • NFGC New Found Gold Corp. reports private placement with Eric Sprott of $5 mln common shares at a price of CAD9.60 per Common Share
• Selling Shareholders of note:
  • VLN Valens Semiconductor files for 21.58 mln ordinary share offering by selling shareholders
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings:  None 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:

• After Hours:
  • TSC +27.5% , XM +5.7%, SLM +4.1% , HPQ +3.8% , CSX +2.9%, THC +2.2%
  • ZLAB -12%, ADMA -8.1%, CVLG -6.5%, KALU -6.1%, UMPQ -6%, FTI -4.6%, GGG -4.5%, IBM -4.2%, LRCX -2.4%, KMI -2.2%, LVS -2.1%, GOCO -2.1%, TCBI -2%
• News Items:
  • IBM revenue misses on weakness in legacy infrastructure unit (Reuters)
  • Micron CEO warns supply chain shortages could continue into 2023 (Fox Business)
  • Moderna and J&J Covid-19 boosters, mixing and matching, authorized by the FDA (Fox Business)
  • Biden administration reportedly looking at taxing stock buybacks and new taxes on billionaires as corp rate hike seems less likely (Washington Post)
• Dividend Announcements:
  • • MMP: Magellan Midstream Increases Quarterly Cash Distribution to $1.0375
    • AWI: Armstrong World Industries Announces Increase in Quarterly Dividend
    • HPQ: HP Inc. Announces Fiscal 2022 Financial Outlook and Raises Annual Dividend Approximately 29% to $1 per Share
• Stock Split: None of note.
• Buyback Announcements: MMP: Magellan Midstream Announces Completion of Previous Equity Repurchase Program and Approval of Additional $750 Million Authorization.

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

S&P 500 -3 Dow Jones Industrial Average -25 NASDAQ -4 Russell 2000 -7 . Fair values are mixed. Asia mixed and Europe lower. VIX is at 19.59 from 19.64 in futures from yesterday. Gold,silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $130.38 from $130.63 yesterday with yields at 1.67% from 1.62% yesterday morning. Bitcoin at $64,601 from $64,048 yesterday morning down $1777 or +2.67% in morning trading.

Wednesday’s Action – 10/20 Close:  

• Positive Sectors Wednesday: Real Estate, Utilities, Healthcare, Energy, Industrials, Consumer Defensive, Financials
• Negative Sectors Wednesday: Technology and Communications Services
• One Month Winners: Energy, Financials and Basic Materials of note.
• Three Month Winners: Energy, Financials, and Technology of note.
• Six Month Winners: Energy, Technology and Communication Services of note.
• Twelve Month Winners: Energy, Financials and Communication Services of note.
• Year to Date Winners: Energy, Financials, and Communication Services of note.

Stocks were higher across the board, especially commodities including Silver, Oil, and Natural Gas.  Updated 10/20 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:
  
  • TSC +27%, SIOX +13%, XM +7%, MYRG +4.2%, HPQ +4.2%, THC +3.6%, UNIT +3.2%, CRNX +3%, ONEW +3%, UL +3%, CSX +2.8%, MRNA +1.8%, SAP +1.8%, EFX +1.2%, CNI +0.9%, FR +0.8%, DLO +0.6%, LSTR +0.6%, BANC +0.6%
• Gap Down:
  • FTI -7.3%, ADMA -7.2%, CVLG -6.9%, KALU -6.6%, ABB -5.8%, IBM -4.8%, GGG -4.1%, UMPQ -3.1%, LRCX -3.1%, KNBE -2.7%, GL -2.5%, TCBI -2.4%, PPG -2.4%, DFS -2.3%, RJF -1.9%, KMI -1.9%, LVS -1.9%, DHR -1.6%, SLM -1.5%, ZLAB -1.3%, SLG -1.3%, BCS -1.3%, TSLA -1%, HLX -0.9%, GOCO -0.7%, DOW -0.7%

Insider Action: None of note today. No stocks sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/20

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 Moving – T, IBM, CROX, BX, DOW, CSX, UL. (CNBC)
• Five Things To Know To Start Your Day. (CNBC)
• Biden Administration to give up individual and corporate tax increases and seek smaller revenue alternatives and taxes. (NYT)
• Budget Reconcilition Bill sees Medicare and Medicaid Changes remain with another year of the child tax credit. Out community college and climate initiatives. (PBS)
• China’s Evergrande sees sale of property services collapse. (FT)
• President Biden wants $800 credit card to seniors for dental care. (The Washington Post)
• Robinhood looks at Ulta Beauty (ULTA) move to improve digital experience. Electronic Arts (EA) may split with FIFA.

Moving Average Update:

• Score at 100% unchanged. Updated 10/20 close.

Geopolitical: