CAPIS Morning Note – 10/27/25: Stocks On Fire Into Big Week

• IPOs For The Week: BGIN, DTDT, ELCG, MKTR, MMTX, NPT, POAS
• New IPOs/SPACs launched/News: None of note.
• IPOs Filed/Priced: None of note.
• Secondaries Filed or Priced:
  • CAN files for $270 million ADS offering.
  • AQMS: Form S-3.. 1,133,794 Common Stock Issuable Upon Exercise of Certain Common Stock Purchase Warrants.
  • ASPS: FORM S-3 – 7,224,028 Shares of Common Stock.
  • FLYX: FORM S-3 –  530,381 Shares of Class A Common Stock.
  • GTBP: FORM S-1 – 14,589,546 Shares of Common Stock.
  • MNTS: Form S-1.. Up to 43,989,290 Shares of Common Stock.
  • WINT: FORM S-1 – Up to 751,872,888 Shares of Common Stock.
• Notes Filed Or Priced: None of note.
• Convertibles Filed: None of note.
• Direct Offering: None of note.
• Exchangeable Subordinate Voting Shares: None of note.
• Private Placements:
  • SLE – Follow On Close of Private Placement Offering, Securing Total of $17.9 million.
• Selling Shareholders of note:
  • ASPS files for 7,224,028 share common stock offering by selling shareholders.
• Mixed Shelf Offerings:
  • LII files for mixed securities shelf offering.

News After The Close: 

• Core Scientific (CORZ) Q3 EPS of $(0.46), may not compare to the $(0.07) FactSet Consensus estimate; Revenue decreased 15% yr/yr to $81.1 million vs. the $112.8 million consensus estimate.
• Grindr (GRND) confirms that the Special Committee of its Board of Directors has received a non-binding, unsolicited take-private proposal from large shareholders Ray Zage and James Lu to acquire Grindr for $18.00 per share in cash.
• President Trump raises Canadian Tariff raised by 10% due to commercial with President Reagan. (WSJ)
•  10-K Delays , 10-Q Delays: None of note.

Exchange/Listing/Company Reorg and Personnel News: 

• GOGO discloses the departure of its COO Michael Begler, effective immediately.

Buybacks:

• SEIC increases stock share repurchase program by $650 million.

• Stocks Ex Div Today of note: RY BK DHC SVC INFY KNTK USAC of note.
• Stocks Ex Div Tuesday of note: FAST VIV CE  of note.
• MSEX increases quarterly dividend to $0.36 per share from $0.34 per share.

Winners & Losers From Last Week:

• Winners: ISRG (549.19 +23.1%), CRS (312.56 +31.2%), KALU (95.53 +22.37%), SSL (6.58 +19.98%), GTX (16.34 +28.12%), FUN (25.62 +22.7%), PLCE (8.82 +21.32%), PEGA (65.75 +23.17%), NOVT (126.71 +20.04%),LC (18.63 +21.05%), CLB (16.42 +44.8%), PTEN (6.73 +22.05%), RIG (3.92 +20.09%), HAL (26.73 +20%).
• Losers:  ITGR (72.40 -30.94%), CARA (5.03 -23.53%), MOH (164.91 -14.41%), GKOS (75.50 -13.39%), CRBP (17.00 -12.01%), HMY (17.47 -12.47%), OR (33.05 -12.3%), IAG (11.78 -11.83%), CDE (18.58 -11.76%), NG (8.45 -11.57%), BVN (22.66 -11.38%), R (162.27 -11.02%), QRTEA (11.75 -14.48%), SAH (65.32 -12.74%), STM (25.02 -14.48%), STI (14.6 -31.01%), SMPL (20.5 -16.53%).

What’s Happening This Morning: (as of 7:15 a.m. EDT)

• Futures S&P 500 +61  NASDAQ 100 +336  Dow Jones +272  Europe is higher and Asia is higher. Bond yield is at 4.024% from 4.01% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower as well. Gold and Silver are lower while Copper is higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and lower against the Yen. Bitcoin is at $115,433 while $111,230 up by 1.61% which is $1,828.

• Daily Positive Sectors: Technology, Utilities, Communication Services, Industrials, Financials and Real Estate were higher.
• Daily Negative Sectors: Energy, Consumer Defensive and Consumer Cyclical were lower.
• One Month Winners:  Healthcare Services, Utilities, Technology, Industrials, Materials and Consumer Defensive of note.
• Three-Month Winners: Communication Services, Technology, Materials, Utilities and Healthcare of note.
• Six-Month Winners: Technology, Communication Services, Industrials and Consumer Cyclicals of note.
• Twelve-Month Winners: Communication Services, Technology, Financials, Consumer Cyclical, and Industrials of note.
• Year to Date Winners: Communication Services, Materials, Technology, Financials, 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: 

• Tuesday Before The Open: 

Notable Earnings of Note This Morning: 

Options Activity: Calls and Puts Top Ten Names Sorted Volume. Highlighted names are new to the most active list.

Insider Action: None sees Insider Buying with dumb short selling.  None sees Insider Buying with smart short sellers. Above $100,000 in purchases.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific. 

• Bloomberg Lead Story: Latest U.S. & China Truce Leaves Fundamental Issues Unsolved. (Bloomberg)
• Bloomberg Market Wrap:  Stocks rally on optimism ahead of big week. (Bloomberg)
• Novartis (NVS) to buy Avidity Biosicence (RNA) for $12 billion. (CNBC)
• Huntington (HUN) to buy Cadence Bank (CADE) for $7.4 billion. (CNBC)
• President Trump underwent an MRI. (CNBC)

Bolded on story link means behind a Pay Wall.

M&A Activity & Daily Changes:

Plymouth Industrial REIT (PLYM) announces it has entered into a definitive merger agreement under which entities affiliated with Makarora Management LP, along with Ares Alternative Credit Funds, will acquire all outstanding shares of Plymouth’s common stock and all outstanding limited partnership interests of Plymouth Industrial OP, LP for $22.00 per share, in an all-cash transaction valued at approximately $2.1 billion, including the assumption of certain outstanding debt.

Moving Average Table: 

Meeting & Conferences of Note: 

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: BKNG DOCS GD IDCC MSFT REPL of note.
  • Downgrades: HOG of note.