CAPIS Morning Note – 12/30/21: S&P 500 Moves Back Towards 4800. Breakthrough Above This Level In The Next Two Days?

Overnight Summary:  Stocks globally were higher overnight but modestly. The U.S. saw stocks trade sideways to lower until 2:00 a.m. before it began to rise to where it was at 7:20 a.m. EST at 4793 up +9. Earnings Out After The Close: Beats: None. Flat: None. Misses: None Capital Raises: IPOs Priced or News: None of note….

Overnight Summary:  Stocks globally were higher overnight but modestly. The U.S. saw stocks trade sideways to lower until 2:00 a.m. before it began to rise to where it was at 7:20 a.m. EST at 4793 up +9.

Earnings Out After The Close:

  • Beats: None.
  • Flat: None.
  • Misses: None

Capital Raises:

  • 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:
    • PRPH: Form 424B5.  $100 million Sales Agreement.
  • Pricing of Over-Allotment:
    • BVXV: Successful Closing of $9.8 million Follow-on Underwritten Offering of ADSs Including Exercise of the Over-Allotment.
  • Direct Offering: None of note.
  • Selling Shareholders of note:
    • AVCT: Filed Form S-3. 38 million Shares of Common Stock by Selling Shareholders.
  • Private Placement of Public Entity (PIPE): None of note.
  • Mixed Shelf Offerings:
    • COLB: Filed Form S-3ASR.. Mixed Shelf Offering.
    • EGY: Filed Form S-3.. $150 million Mixed 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: None of note.
    • Trading Down: AVCT -8%, COLB -4%
  • News Items After The Close:
    • United States reports more than 325,000 new COVID19 cases, the highest single-day increase during the entire pandemic. Biden repeatedly promised Americans to “shut down the virus.”
    • Paris mandates outdoor mask wearing amid COVID surge. (Axios)
    • Nu Skin (NUS) to exit their Grow Tech unit, focus was on ag tech.
    • Lockheed Martin (LMT) awarded $847 million contract modification for Joint Strike Fighter aircraft.
    • S&P 500’s Energy Sector on Pace to Hit Record Annual Gain (WSJ)
    • Select Walmart (WMT) and Sam’s Club Pharmacies Ready To Dispense Authorized COVID-19 Antiviral Medication Through Federal Retail Pharmacy Therapeutics Program as supplies begin delivery to stores.
  • Exchange/Listing/Company Reorg and Personnel News: 
    • BriaCell (BCTX) to Uplist and Trade on the Toronto Stock Exchange from TSX Venture Exchange under ‘BCT’; Remains ‘BCTX’ on Nasdaq.
    • DiDi (DIDI) Announces Board Change.
    • Inogen (INGN) announces Beth Mora as Chairperson.
    • Oatly (OTLY) Announces Changes to its Board of Directors.
    • Gilat (GILT) Names Gil Benyamini as Chief Financial Officer Replacing Bosmat Halpern Who is Stepping Down.
  • Buyback Announcements:
    • FSD Pharma (HUGE) Announces Share Repurchase Program.
    • ParkerVision (PRKR) Director Plans to Repurchase Shares.
  • Stock Splits: None of note.
  • Dividends Announcements: 
    • Glacier Bancorp, Inc. (GBCI) Declares Special Dividend payable January 20 of $0.10 per share.

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

S&P 500 +9.50 Dow Jones Industrial Average +53 NASDAQ +48 Russell 2000 +1.06. Asia higher ex Japan and Europe higher. VIX Futures are at 19.70 from 20.46  yesterday morning. Gold, Silver and Copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.34 from $130.58 yesterday with yields at 1.534% from 1.498% yesterday morning. Bitcoin at $47,611 from $46,896 yesterday morning and +0.37%. As of 8:00 a.m. EST.

Tuesday’s Action – 12/29 Close:  

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

Low volume ruled the day with indexes ending on a slightly positive note except for the NASDAQ.  For the record, SP 500 and DJ Industrials did close at record highs.  For the S&P 500, it was its 70th record close of the year.  Updated 12/29 close.

Upcoming Earnings Of Note: (sorted by market cap, highest to lowest with most visible names)

  • Thursday After the Close: None of note.
  • Friday Before the Open: None of note.

Earnings of Note This Morning:

  • Beats: None.
  • Flat: None.
  • Misses: None.
  • Still to Report: None.

Erlanger Research Advance/Decline Chart: Updated through 12/29 close.

Gap Ups & Down In Early Pre-Market:

  • Gap Up: EGY +18%
  • Gap Down: AVCT -6%, BIIB -5%, COLB -4%, DIDI -4%

Insider Action: No stock sees Insider buying with dumb short selling and no stock has smart short sellers with insider buys. 12/29 close

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 Moves: BIIB, JBLU, DIDI, JNJ, MU, RRD  (CNBC)
  • Covid cases increase to 431,567 cases from 441,278. Hospitalizations are at 64,756 from 63,106.
  • T Cells Come to the Rescue as Studies Show They Fight Omicron (Bloomberg)
  • Dr. Kavita Pattel noted that the public messaging on the Covid-19 vaccine was wrong and should have focused on that vaccine would create mild cases not prevent infections. (CNBC)
  • CDC believes that 44,000 people could die of Covid-19 over next four weeks. (CNN)
  • Google (GOOG) and Tech Rivals Tap Cash Reserves to Realize Cloud Ambitions. (ORCL, MSFT, AMZN) ( (Wall Street Journal)
  • Johnson & Johnson (JNJ) COVID-19 booster dose slashes Omicron hospital stay by 85%: South African study. (Bloomberg)
  • NYPD buys 184 Ford (F) Mustang Mach-E, approves option to buy 250 Tesla Model 3s (TSLA)  (Electrek)
  • JBLU reducing schedule by about 1,280 flights through Jan 13th. (CNBC)

Moving Average Update:

  • Score remains at 93%. Updated 12/29 close.


  • President’s Public Schedule:
    • The President holds a phone call with President Vladimir Putin of Russia to discuss a range of topics, including upcoming diplomatic engagements with Russia, 3:30 p.m. EST


  • Initial Jobless Claims 8:30 a.m. EST
  • Chicago PMI 9:45 a.m. EST
  • EIA Natural Gas Report 10:30 a.m. EST
  • Baker Hughes Rig Count 1:00 p.m. EST
  • Farm Prices 3:00 p.m. EST

Federal Reserve Speakers:

  • None of note.

M&A Activity

  • FCPT Announces Acquisition of Three Mr. Tire Properties for $2.5 Million.
  • SK Hynix completes initial phase of Intel’s (INTC) NAND and SSD business acquisition.
  • Simpson Manufacturing (SSD) announces binding offer to acquire Etanco Group for €725 million.  The deal is expected to close near the end of 1Q22.

Meeting & Conferences of Note:

  • Sellside Conferences:  None of note. 
    • Previously Posted and Ongoing Conferences:
      • None
  • Company Meetings: CION, PBIO, SFUN
  • Fireside Chat: None of note.
  • Investor/Analyst Day/Calls: None of note.
  • Update: None of note.
  • R&D Day: None of note.
  • Company Event: None of note.
  • Industry Meetings: None of note.
    • Previously Posted and Ongoing Conferences:
      • None.

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: