Meeting & Conferences of Note:
CAPIS Morning Note – 11/29/21: The Omicron Rebound – Will It Hold?
Overnight Summary: Stocks are mixed overseas. Japan lost 1.6% and China was flat after starting off down -1%. Heading west there are signs of green with Europe rebounding from Friday’s pullback. Retail stocks and Banks are leading the European markets. US futures are starting solidly up but are off the peak of 4640 now at…
Overnight Summary: Stocks are mixed overseas. Japan lost 1.6% and China was flat after starting off down -1%. Heading west there are signs of green with Europe rebounding from Friday’s pullback. Retail stocks and Banks are leading the European markets. US futures are starting solidly up but are off the peak of 4640 now at 4627 at 7:15 a.m. EST.
Earnings Out After The Close:
- Beats: None
- Flat: None
- Misses: None
- IPOs Priced or News: None of note.
- New SPACs launched: None of note.
- Secondaries Priced: None of note.
- Notes Priced of note: None of note.
- Common Stock filings/Notes:
- VRAR: Filed Form S-1.. 2,250,000 Shares of Common Stock Offered by the Selling Stockholders
- WB: Launches Global Offering.. aggregate of 11,000,000 Class A ordinary shares
- 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: None of note.
- Convertible Offering & Notes Filed:
- PRG: Closing of Senior Unsecured Notes Offering and Satisfaction of Tender Offer Financing Condition
- 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:
- Weekly Wrap Up: Best and Worst performing large cap stocks:
- Trading Up: MRNA 25%, LLL 24%, ENTA 22%, AVYA 18%, ENIC 16%, MOV 15%, HTZ 14%, ENIA 14%, NVAX 13%, PVAC 12%, DY 12%, EBS 11%, HPQ 11%, SBLK 11%, GH 10%, COMM 9%, PSTG 9%, SQQQ 9%
- Trading Down: AUPH -32%, JWN -31%, GPS -28%, PLAN -23%, MMYT -22%, ADSK -21%, TUSK -18%, DESP -18%, LOVE -18%, KURA -17%, PDD -17%, HTHT -17%, TOUR -17%, ACOR -16%, JKS -16%, TISI -16%, ANF -16%, RCKT -15%
- News Items:
- Stocks That Defined the Week: AA, TGT, DE (Wall Street Journal)
- U.S. to restrict travel from South Africa, 7 other countries as new Covid variant emerges — (CNBC)
- NY Governor — declaring a disaster emergency over rising Covid infections
- Peloton (PTON) trades lower on report it has sued Lululemon (LULU) over apparel line, according to CNBC
- 737 Max: Boeing (BA) refutes new safety concerns (BBC)
- Moderna (MRNA) to ‘rapidly advance’ omicron-specific COVID-19 booster candidate (MarketWatch)
- Japan’s Prime Minister Kishida will seek a 3.0% wage increase during Spring wage talks.
- Global Fintech, Jeeves, and MasterCard (MA) Join Forces to Offer Fully Locally-Issued Physical and Virtual Cards for Mexican Businesses
- Positive View: IBM, THRM, SWCH, NIO, XPEV, LI
- Negative View: None of note.
- Mixed View: None of note.
- Exchange/Listing News:
- Unico American Corporation (UNAM) Receives Notification from Nasdaq Related to Delayed Quarterly Report on Form 10-Q
- Buyback Announcements: None of note.
- Stock Splits: None of note.
- Dividends Announcements: None of note.
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +38 Dow Jones Industrial Average +223 NASDAQ +167 Russell 2000 +17. Asia mixed and Europe trading higher. VIX is at 23.60 from 20.95 in futures from Wednesday. Gold, Silver and Copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.80 from $129.80 with yields at 1.55% from 1.662% on Wednesday morning. Bitcoin at $56,977 from $56,626.99 Wednesday morning and this morning up 3.67%. As of 8:17 a.m. EST.
Friday’s Action – 11/26 Close:
- Daily Positive Sectors: none of note.
- Daily Negative Sectors: Communication Services, Consumer Cyclical, Technology, Energy, Industrials, Financial, Healthcare, Real Estate, Basic Materials, Consumer Defensive, Utilities of note.
- One Month Winners: Consumer Cyclical, Technology, Industrials of note.
- Three Month Winners: Energy, Consumer Cyclical, and Technology of note.
- Six Month Winners: Technology, Energy, Consumer Cyclical of note.
- Twelve Month Winners: Energy, Communication Services, and Technology of note.
- Year to Date Winners: Energy, Technology, and Communication Services of note.
Blood in the streets with all indexes down and a flight to safety with in Bonds. Updated 11/26 close.
Upcoming Earnings Of Note: (sorted by market cap, highest to lowest with most visible names)
- Monday After the Close: GBDC of note.
- Tuesday Before the Open: BNS, JKS, MOMO, BZUN of note.
Earnings of Note This Morning:
- Beats: LI +0.33
- Flat: none
- Misses: FRO (0.02)
- Still to Report: none
Erlanger Research Advance/Decline Chart: Updated through 11/26 close.
Gap Ups & Down In Early Pre-Market:
- Gap Up: APDN +47%, MRNA +10%, LI +7%, BNTX +4%, NVAX +4%, USO +4%, XPEV +3%, HAL +3%, HA +3%
- Gap Down: FENC -31%, VXX -10%, LOGI -4%
Insider Action: BLL sees Insider buying with dumb short selling and no stock has smart short sellers with insider buys. 11/26 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: MRNA, CCL, ZM (CNBC)
- White House bans air travel from South Africa and seven other African countries as of today due to Covid-19 Omicron.
- Japan, Israel and Morocco close borders due to Omicron. (NYT)
- Thoughts are all over the place on the severity of Omicron variant of Covid-19. (NYT)
- South African Doctor who found the virus looks at symptoms, very good read. (CNBC)
- White House presses individuals to get boosters.
- Vaccine developers have a “pretty good degree of confidence” that Covid-19 booster should protect against Omicron variant notes Dr. Scott Gottlieb. (The Hill)
- Moderna (MRNA) Chief Medical Officer Paul Burton thinks could have a new vaccine for Omicron by early next year. (Bloomberg)
- Moderna (MRNA) CEO Stephane Bancel interviewed on CNBC. Notes Omicron variant is highly infectious, vaccine effectiveness could drop, 2-6 week for clarity and any country with flights from South Africa to their country have the variant in their country. Travel restrictions can slow down the virus. (Bloomberg)
- Democrats Tackle Changes to $2 Trillion Spending Plan as Deadlines Loom (Wall Street Journal)
- Airlines Avoid Thanksgiving Pitfalls as Daily Passengers Top Two Million (Wall Street Journal)
- Black Friday in store shopping dropped 28% from 2019 because shoppers spread out shopping throughout the holiday season (XRT, WMT, TGT, BBY, COST, HD, LOW, AMZN, M, KSS, JWN). (CNBC)
- WHO update on new coronavirus variant: “There is currently no information to suggest that symptoms associated with Omicron are different from those from other variants”
- WHO urges countries around the world not to impose travel bans on southern African nations due to concerns over the new omicron variant.
Moving Average Update:
- Score dive bombs to 30% from 66%. Updated 11/26 close.
- President’s Public Schedule:
- The President and The Vice President receive the President’s Daily Brief, 10:00 a.m. EST
- The President and The Vice President receive a briefing from members of the White House COVID-19 Response Team on the latest developments related to the Omicron variant, 10:45 a.m. EST
- The President delivers remarks to provide an update on the Omicron variant, 11:45 a.m. EST
- Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EST
- The President meets with the CEOs of companies in a variety of sectors to discuss the holiday shopping season and his Administration’s work to move goods to shelves, 2:00 p.m. EST
- The President delivers remarks on his Administration’s work to strengthen the nation’s supply chains, lower everyday costs for families, and ensure that shelves are well-stocked this holiday season, 3:45 p.m. EST
- October Pending Sales is due out at 10:00 a.m. EST and is expected to rise to -0.7% from -2.3%.
- Dallas Fed Mfg Survey 10:30 a.m. EST
Federal Reserve Speakers:
- Federal Research Chair Jerome Powell 3:05 p.m. EST
- Federal Research Board of Governors Michelle Bowman 5:05 p.m. EST
- Church & Dwight (CHD) agreement to acquire the TheraBreath brand for $580 million in cash
- High Tide (HITI) Closes Acquisition of NuLeaf Naturals
- Sellside Conferences:
- Citigroup Basic Materials Conference (11/29-12/01)
- Cowen 4th Annual Cannabis Conference (11/29-12/01)
- CS Mexican Financials C-level Conference
- Credit Suisse 25th Annual Technology, Media & Telecom Conference (11/29-12/02)
- Evercore ISI 4th Annual HealthCONx Conference 2021 (11/29-12/03)
- Goldman Sachs Industrial Conference 2021 (11/29-12/01)
- Jefferies Retail & Brands Summit
- KeyBanc Summit @ AWS Re:Invent (11/29-12/03)
- Piper Sandler 33rd Annual Healthcare Conference (11/29-12/02)
- Stephens Investment Conference (11/29-12/03)
- Company Meetings: EBC, NOAH, HUM, DLA
- Fireside Chat: None of note.
- Investor/Analyst Day: GSK
- Update: None of note
- R&D Day: None of note.
- Conference Call: None of note.
- Company Event: None of note
- Industry Meetings: None of note.
Top Tier Sell-side Upgrades & Downgrades:
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 it to make the reader aware of market moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.
Today’s Upgrades and Downgrades:
Wednesday’s Upgrades and Downgrades: