CAPIS Morning Note – 11/10/25: Stocks Higher As Progress Is Made On Ending Government Shutdown

• 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:
  • AAOI  files for $180 million common stock offering
• 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: None of note.
• Selling Shareholders
  • SPAI files for 2,000,000 share common stock offering by selling shareholders.
  • STZ files for 21,274,829 share common stock offering by selling shareholders.
  • QNRX files for 10,045,455 ADS offering by selling shareholders.
  • BLNK files for 13,595,059 share common stock offering by selling shareholders.
• Mixed Shelf Offerings:
  • AXTI files for $100 million mixed securities shelf offering.
  • COGT files mixed securities shelf offering.
  • ABAT files mixed securities shelf offering.

News After The Close: 

• Freedom Holding (FRHC)  signs an agreement with the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan to develop a $2 billion Sovereign AI Hub in Kazakhstan.
• Coke (KO) announces that Coca-Cola Consolidated (COKE) has purchased all outstanding shares of common stock owned by a subsidiary of The Coca-Cola Company.
• U.S. and Hungary sign a Memorandum of Understanding on Nuclear energy, including for Small Modular Reactors and spent fuel storage.
• Salesforce (CRM) to acquire Spindle AI.
• U.S. Supreme Court overturns the Appeals Court ruling that November SNAP benefits need to be paid and stops full payment.
• 1o-Q Delays: BYND.

Exchange/Listing/Company Reorg and Personnel News: 

• GEN appoints Bryan Ko, its Chief Legal Officer and Secretary, to the additional position of Chief Operating Officer, effective immediately

Buybacks:

• BMI approves a new share repurchase authorization for up to $75 million of the Company’s outstanding common stock through November 30, 2028. 
• COKE also reduces size of share repurchase program to $400 million from $1.0 billion

• Stocks Ex Div Today of note: IBM WELL AEP GWW EXC AMP VMC ROL OWL PPG CG FTAL RGA WBS TX OMF JHG MUSA HR MC MTDR MGY MWA SXT SON CNS FIBK TEX FBK CWT CAKE of note.
• Stocks Ex Div Tomorrow of note: None of note.
• HVT increases quarterly dividend to $0.33 per share from $0.32 per share.

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

• Futures S&P 500 +60  NASDAQ 100 +351 Dow Jones +182  Europe is higher and Asia is higher. Bond yield is at 4.12% from 4.097% on the 10-Year, unchanged. Crude Oil and Brent Crude are higher with Natural Gas higher. Gold, Silver and Copper are higher. The U.S. Dollar is lower versus the Euro, higher against the Pound and lower against the Yen. Bitcoin is at $105,986 from 99,745 higher by +1.38% which is $1436.

• Daily Positive Sectors: Energy, Real Estate, Utilities and Materials were higher.
• Daily Negative Sectors: Communication Services and Technology.
• 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. No unusual new names.

Insider Action: IEX PMTS LTC sees Insider Buying with dumb short selling.  None see 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: Senate Advances Plan to End Shutdown. (Bloomberg)
• Bloomberg Market Wrap: Stocks rally, bond yields fall as government shutdown starts to end. (Bloomberg)
• Senate passes first of several legislative acts to return the government to normal. (CNBC)
• No more private jets at 12 major airports until government shutdown ends. (CNBC)
• Cleveland Guardian pitchers indicted for rigging bets. (CNBC)

Bolded on story link means behind a Pay Wall.

M&A Activity & Daily Changes: None of note.

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: ARRY CLS DV MP PCTY PIPR of note.
  • Downgrades: AAOI ASR JD PEB of note.