• IPOs Priced or News:
  • ABR: Public Offering of Common Stock 7.5Million shares for $147.8 million raise.
  • Weave Communications (WEAV) to launch 5 million share IPO with price between $25 and $28.
  • Backblaze (BLAZ)  launches 6.25 million share IPO with range of $15 to $17.
• New SPACs launched:
  • SBEA: Black Rifle Coffee Company, a Rapidly Growing Premium Coffee Company and Lifestyle Brand with a Mission to Better the Lives of Veterans, Active-Duty Military and First Responders, to Go Public via Combination with SilverBox Engaged Merger Corp I
• Secondaries Priced:
  • SURG 4.6M share Secondary priced at $4.30
• Notes Priced of note:
  • PI: Proposed Private Offering of $225 Million of Convertible Senior Notes Due 2027
  • ABG: Private Offering of Senior Notes Due 2029 and Senior Notes Due 2032
  • MOH: Pricing of $750 Million of Senior Notes Due 2032
• Common Stock filings/Notes:
  • ZI: Filed Form S-3ASR.. 10,287,643 Shares Common Stock
  • VRT: Commencement of Secondary Offering of 20,000,000 Shares of Common Stock
  • SHLX: Filed Form S-3ASR.. Common Units
• Pricing of Over-Allotment: None of note.
• Direct Offering: None of note.
• Selling Shareholders of note: None  of note.
• Private Placement of Public Entity (PIPE): None of note.
• Mixed Shelf Offerings:
  • TARS: Filed Form S-3.. $300Million Mixed Security Shelf
  • AMST: Filed Form S-3.. $100Million Mixed Security Shelf
• 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:
  • Trading Up: ANET +13.8%, FN +13.7%, UNVR +9.9%, BCOV +7.9, CAR +5.1%, HLIT +5.1%, CLX +4.9%, SPG +4.6%, VNOM +2.9%, ZI +2.8%, MCK +2.6%, GXO +2.5%, FCX +2.3%,  SKT +2.1%, CNTX +2.0%
  • Trading Down: CHGG -27.7%, SMLR -23.9%, LEGN -9.8%, BWXT -9%, IVC -7.4%, NBIX -6.8%, LXU -6.5%, PNTG -5%, PLOW -4.7%, VRNS -4.7%, RIG -4.5%, ABR -3.8%, LEG -3.4%, RMBS -3.4%, EVER -3.1%, PI -3.1%, VRT -2.6%

• News Items:
  • Stocks making the biggest moves afterhours: CHGG, CLX, CAR(CNBC)
  • Amazon-backed EV start-up Rivian plans to price shares up to $62, putting valuation near $55 billion (CNBC)
  • Manchin Slams Brakes on Biden Economic Plan, Chides Liberals (Bloomberg)
  • Zillow stock dives after analyst highlights two-thirds of homes bought are underwater (Market Watch)
  • Stocks Set for Steady Open as Policy Meetings Loom: Markets Wrap (Bloomberg)
  • Senator Joe Manchin (D-WV) tells House to vote Infrastructure Bill through and that then Budget Reconciliation Bill. (CNN)
  • Supreme Court continues to deliberate on Texas abortion laws. (CNN)
• Dividend Announcements:
  • FANG: Increases Dividend
  • EL: The Estée Lauder Companies Inc. Increases Quarterly Dividend 13% to $.60 Per Share
  • NP
  • MAIN Increases Dividend
• Stock Split:
  • ANET approves a 4-for-1 stock split
• Exchange/Listing News: 
  • Kyndryl (KD) to join S&P MidCap 400 and NetScout Systems (NTCT) to join S&P SmallCap 600, effective prior to the open on November 5
  • Invacare (IVC) to be removed from S&P SmallCap 600
• Buyback Announcements:
  • OLN: Olin Announces $1 Billion Share Repurchase Program
  • BWXT: Narrows 2021 Guidance and Strategically Deploys Capital to Repurchase Shares
  • FCX: New $3.0 billion share repurchase authorization
  • NOC: Northrop Grumman Announces New $500 Million Accelerated Share Repurchase Agreement
  • EXLS: EXL Announces $300 million Common Stock Repurchase Authorization

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

S&P 500 +3 Dow Jones Industrial Average +29 NASDAQ -21 Russell 2000 +5.28. Asia lower and Europe mixed. VIX is at 18.36 from 19.30 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 $130.88 from $130.50 with yields at 1.554% from 1.587% yesterday morning. Bitcoin at $63,124 from $61,959 yesterday morning up +3% in early morning trading. As of 8:25 a.m. EDT.

Monday’s Action – 11/01 Close:  

• Positive Sectors Monday: Consumer Cyclicals, Energy, Industrials, Real Estate, Financial, Utlitities
• Negative Sectors Monday: Communication Services
• One Month Winners: Consumer Cyclicals, Technology, Industrials 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 Technology of note.
• Year to Date Winners: Energy, Financials, and Communication Services  of note.

Stocks were up with Small Cap jumping up 2.65%. Commodities were up but UNG pulled back 5.85%. Updated 11/01 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: ROG +29.5%, ANET +14.8%, UNVR +10%, FN +9.4%, ZI +8.2%, BCOV +6.7%, CAR +6.7%, TEVA +6.1%, CNTX +5.4%, KFRC +5.1%, HLIT +5%, ZENV +4.3%, SPG +4.2%, IT +4.1%, BRKR +3.4%, MCK +2.8%, VNOM +2.6%, GXO +2.4%, EXLS +2.4%, TCRR +2.2%, LPX +2.2%, INVZ +2.1%, ADUS +2.1%
• Gap Down: CHGG -31.9%, SMLR -17.3%, EVER -9.1%, LEGN -8.9%, IVC -7.9%, BWXT -7.3%, NBIX -5.9%, PNTG -5%, GNRC -4.9%, VRNS -4.8%, RIG -4.8%, ADTN -4.8%, TSLA -4.6%, ABR -4%, DD -3.7%, CACC -3.7%, VRT -3.6%, RMBS -3.4%, BP -3.1%, PLOW -2.3%, ACAD -2.2%

Insider Action: No stocks sees Insider buying with dumb short selling and no stocks has smart short sellers with insider buys. 11/01 close

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

• Five Things To Know To Start Your Day. (Bloomberg)
• Five Things To Know This Morning. (CNBC)
• Stocks Making The Biggest Moves PFE, UAA, GNRC. (CNBC)
• House Speaker Pelosi says the House is getting closer to votes on the Infrastructure and Budget Reconciliation Bill. (CNBC)
• Virgina election will help to set the tone for Mid Terms. Republicans now up by 1.7%.
• Apple (AAPL) lowers production of iPads to divert chips to iPhone 13s. (Nikkei)
• Nintendo (NTDOY) will make 20% fewer Switch gaming devices due to chip shortage. (Nikkei)
• Leidos (LDOS) picks up $531 million Air Combat Command Acquisition Mgmt and Integration Center.
• Elon Musk says Tesla has not signed contract with Hertz yet (CNBC)
• Tesla (TSLA) recalls 11,700 vehicles. (CNBC)
• JPMorgan downgrades Clorox, says rising costs will drag down earnings in the year ahead (CNBC)
• Robinhood looks at China’s Covid-19 policies and impact on economy post the Shanghai Disney lockdown. Coca Cola (KO) buys BodyArmor its largest purchase ever.

Moving Average Update:

• Score remains at 100%. Updated 11/01 close.

Geopolitical: