Overnight Summary & Early Morning Trading: The S&P 500 finished Friday lower by -0.95% at 6025.99.Thursday higher by 0.36% at 6083.57. The overnight high was hit at 6078 at 6:35 a.m. EDT and the low was hit at 6014 at 6:00 p.m. EDT. The overnight range is 64 points. The current price is higher at 7:05 a.m by +0.46% at 6077.25 up +27.75 points.
Executive Summary: Stocks are bouncing off Friday’s weakness today which is 2025 pattern
Articles of Note:“S&P 500 Is Too Big To Falter On Trump’s Tariffs” by Nir Kaissar, Bloomberg.
*Note that certain articles highlighted may require a subscription. We highlight noted sources like the WSJ or Bloomberg that have wide audiences.
Key Events of Note Today:
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- No economic data of note.
- 3 and 6 month Bill Auction at 11:30 a.m. EDT.
McDonalds (MCD) missed estimates by $0.02 but the stock is higher due to a decent technical base. The stock is higher by 1.74% this morning.
Notable Earnings Out After The Close
- Beats: None of note. (>+0.10)
- Flat: None of note.
- Misses: None of note.
- IPOs For The Week: BTAI, GSAT, KORU, NEXN, NIVF, RIME, SCCO,
TCBP - New IPOs/SPACs launched/News:
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- AIFF: FORM S-1 – Up to 4,534,666 Shares of Common Stock
- GAIA: Closing of Underwritten Offering of $8.0 Million of Common Stock
- SGBX: FORM S-1 – 19,270,190 Shares of Common Stock
- TRNR: Form S-1.. 3,778,008 Shares of Common Stock
- XWEL: Form S-3.. 1,051,677 Shares of Common Stock
- Notes Priced:
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Selling Shareholders of note:
- EVTL files for 104,009,489 shares of common stock offering by selling shareholders.
- Mixed Shelf Offerings:
- PECO files mixed shelf securities offering.
- TEVA files mixed shelf securities offering.
- RR files for $200 mln mixed securities shelf offering.
- SMHI files for $200 mln mixed securities shelf offering.
- RNST files mixed securities shelf offering.
- CDIO: Form S-3.. Up to $50,000,000 Mixed Shelf
- ITRM: FORM S-3 – $150,000,000 Mixed Shelf Offering
- PIPE:
- Convertible Offerings & Notes Filed:
Biggest Movers Up & Down Yesterday:
- Movers Up: ACB (6.05 +65.62%), TDOC (13.08 +28.69%),TGI (25.16 +34.26%), MWA (27.38 +19.04%), AGX (161 +17.69%), EXPE (202.09 +18.22%), SERV (19.42 +17.06%), MAT (21.55 +15.58%), SSYS (12.38 +32.98%), GDS (27.42 +26.28%), SWI (18.4 +23.62%), DQ (21.55 +20.32%), ICHR (32.35 +17.81%), BB (5.21 +17.43%), PRO (27.17 +15.03%) of note.
- Movers Down: OMI (8.73 -38.73%), NBIX (121.49 -19.98%), BLUE (6.22 -19.81%), ANAB (14.41 -19.63%), PINC (18.65 -17.72%), FMC (34.32 -38.47%), ATKR (65.42 -19.67%), DLX (18.73 -19.24%), NWL (7.12 -28.56%), ETH (24.64 -21.18%), SWKS (65.87 -25.79%), SMTC (53.69 -19.83%), PI (104.38 -17.74%), GPRE (6.44 -27.94%), ELF (71.08 -28.86%), EL (65.06 -22.02%), NEP (8.47 -19.69%) of note.
News After The Close:
- BLKB discloses in SEC filing that it has determined the estimated pre-tax noncash impairment charge related to EVERFI asset group is expected to be $385-$395 mln, which will be reflected in its financial statements for year ended December 31, 2024. This was first disclosed on December 12th and would cost up to $412 million.
- WEC provides long-term sales growth forecast in presentation slides, guiding for growth of 4.5-5.0% for Electric business and growth of 0.7-1.0% for 2027-2029.
- SMTC provides updates on its CopperEdge portfolio; expects sales from certain products in FY26 to be lower than previously expected.
- PLRX pauses enrollment and dosing in the BEACON-IPF Phase 2b trial.
- Boeing (BA) ticking higher on report it plans to layoff 400 workers on moon rocket program. (Bloomberg)
- RYCEY awarded a $167.4 mln US Navy contract for production of 40 MT7 turboshaft engines.
- 10K or Qs Delays – none of note.
Exchange/Listing/Company Reorg and Personnel News:
- ARAY discloses in SEC filing that Leonel Peralta has been appointed as Senior Vice President, Chief Operations Officer, effective February 3, 2025.
- AMN Chairman Douglas D. Wheat to retire from the Board, effective immediately
Buybacks:
Dividends Announcements or News:
- Stocks Ex Div Today: AAPL IBM BX AEP AMP GWW ETR LVS CQP OHI ARMK WBS WTRG X LAZ MWA FIBK NOMD CWT GLP SJW RES PZZA NMM GABC FBMS MATW.
- Stocks Ex Div Tomorrow: V ASML SCCO BKR DLB JHG FBK ARCB KMT AMAL.
- PSMT increases its annual dividend by 8.6% to $1.26/share.
- WAB increases quarterly cash dividend 25% to $0.25/share from $0.20/share.
What’s Happening This Morning: (as of 8:15 a.m. EDT) Futures S&P 500 , NASDAQ , Dow Jones and Russell 2000 . Europe is higher with Asia is lower. Bonds are at 4.497% from 4.44% from Friday on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas higher as well. Gold, Silver and Copper higher. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $97,423 from $97,889 higher by $1044 up by +1.09%. Additional Comments:
- Daily Positive Sectors: None were higher.
- Daily Negative Sectors: All were lower led by Consumer Cyclicals, Materials, Communication Services and Technology.
- One Month Winners: All except for Technology of note.
- Three Month Winners: Communication Services, Consumer Cyclical, Financials and Technology of note.
- Six Month Winners: Consumer Cyclical, Financials, Communication Services, Technology, Utilities and Industrials of note.
- Twelve Month Winners: Technology, Communication Services, Financials, Consumer Cyclical and Utilities note.
- Year to Date Winners: Communication Services, Materials, Financials, Healthcare and Utiltities of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Monday After the Close:
- Tuesday Before The Open:
Notable Earnings of Note This Morning:
- Beats: MNDY +0.29, ROK +0.25, ROIV +0.05, CNA +0.02 of note.
- Flat: None of note.
- Misses: INCY -0.06, EPC -0.05, TSEM -0.04, HAIN -0.04, ON -0.02, MCD -0.02 of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: MNDY of note.
- Negative or Mixed Guidance: ON of note.
Advance/Decline Daily Update: The A/D fell to major support making new lows and now is off those lows.
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: FDMT +5.5%, EPC +4.4%, MATW +4.2%, KOS +3.7%, RUM +3.4% of note.
- Gap Down: PLRX -55.1%, SMTC -25.2%, SMHI -11.3%, IMOS -3.8%, SNCY -3.3%, IDYA -2.5%, GLSI -2.3% of note.
Insider Action: BAH, MRK, MKL, EL and FLWS see Insider Buying with dumb short selling. TTSH sees Insider Buying with smart short sellers.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- Lead Story on Bloomberg: Trump Plans To Impose 25% Tariffs on Steel, Aluminum Imports. (Bloomberg)
- Market Wrap: Dollar and Gold rise after Trump’s latest trade salvo. (Bloomberg)
- Stocks Making The Biggest Moves: . (CNBC)
- Five Things To Know Before The Market Opens. (CNBC)
- BP Shares pop after Elliott has taken a major stake in the company. (CNBC)
- McDonald’s revenues disappoint. (CNBC)
Economic:
- None of note today. Monthly Releases of note this week include NFIB Small Business Optimism, CPI, Treasury Budget, PPI, Retail Sales, Import/Export Prices and Industrial Production.
Geopolitical: (Watch our Twitter feed, Bullet86, for any impromptu appearances)
- President Trump’s Daily Schedule.
- President Trump returned to the White House well after midnight from the Superbowl. There is not a schedule posted yet.
- No Federal Reserve Speakers today.
M&A Activity and News:
- Hyatt (H) to buy Playa (PLYA) for $2.6 billion. (Bloomberg)
Moving Average Table: Falls to 53% from 97%.
Meeting & Conferences of Note:
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- Sellside Conferences:
- Cantor Healthcare Ski Summit
- UBS Financial Services Conference
- Sellside Conferences:
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- Shareholder Meetings: GOVB
- Top Analyst, Investor Meetings: FDMT
- Update: None of note.
- Fireside Chat
- R&D Day: None of note.
- FDA Presentation: FDMT: Data Presentation on 4D150
- Industry Meetings or Events:
- AHR Expo
- BIO CEO & Investor Conference
- C2C User Summit
- Cisco Live
- MIDO Eyewear Show
- Western Society of Allergy Asthma & Immunology Annual Scientific Session
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 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.
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- Upgrades: CTRN AZPN SHOP JCI
- Downgrades: ILMN CGBD
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