CAPIS Morning Note – 2/22/21: Merger Monday, Stocks Lower
Covid-19 Statistics: **** The COVID Tracking Project will stop collecting data on March 7, 2021 *** Total Cases 27,879,604 from 27,821,175 Deaths 489,060 from 487,774 New Tests 1,225,773 from 1,274,526 New Cases 58,429 from 71,951 with positivity rate of 4.8% (down 0.9) Daily Deaths 1,286 Current Hospitalizations 56,159 from 58,222 Capital Raises: IPOs Priced or…
Covid-19 Statistics:
**** The COVID Tracking Project will stop collecting data on March 7, 2021 ***
Total Cases 27,879,604 from 27,821,175
Deaths 489,060 from 487,774
New Tests 1,225,773 from 1,274,526
New Cases 58,429 from 71,951 with positivity rate of 4.8% (down 0.9)
Daily Deaths 1,286
Current Hospitalizations 56,159 from 58,222
Capital Raises:
IPOs Priced or News:
Secondaries Priced: MOGO of note.
Notes Priced of note: None of note.
Common Stock filings: None of note.
Selling Shareholders of note: None of note.
Mixed Shelf Offerings: EVGN TOL BASI ARR AIG MKL of note.
Convertible Offering Files: None of note.
Summary From The Trade Exchange bringing traders and investors real time news and Squawk Box.
Earnings Out After The Close Of Note:
Beats: none of note.
Flat: none of note.
Misses: none of note.
News After The Close:
Citigroup (C) may sell some international consumer operations. (Bloomberg)
NFL wants 100% price increase for ESPN (DIS) games
Huntington Ingalls (HII) announced that its Newport News Shipbuilding division wins $2.9 billions contract for overhaul of USS John Stennis.
Boeing (BA) 777 sees engine catch on fire and fall off outside of Denver. Engine was built by Pratt & Whitney (RTX). BA grounds 24 other 777s.
Ebix (EBIX) sees their accounting firm resign but guides higher.
Barron’s + on ORCL ETN GE GNRC HES NOG PBF BX PYPL and +/- on SNOW AI SPOT ZM FVRR NET.
Dividend Increases:
Split Announcement:
Raises Guidance:
Lowers Guidance:
Stock Buyback New Or Increase:
Insider Buys: ATEX HSIC SLM MTEM QUOT (source The Trade Exchange)
Hourly Action – Updated 2/18 close. Trading remains mixed with 4 hours up and 3 down.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Quick comment -Futures are mixed this morning but nothing substantial. The low overnight on the S&P 500 was at 2:30 a.m. EST down 10 points from current levels.
S&P 500 -25 Dow Jones Industrial Average -147 NASDAQ -159 Russell 2000 -10 . Fair values are higher ex the Russell. Asia mixed and Europe lower. VIX is at 25.87 from 25.45 this morning in futures. VIX closed at 24.13 and the three month futures at 27.09 from 27.52.
Gold silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $135.31 from $135.70 with the yield at 1.35% from 1.296%.
Positive Sectors On Friday: Materials, Industrials and Real Estate of note.
Negative Sectors On Friday: Utilities, Consumer Defensive and Healthcare of note.
One Month Winners: Energy, Financials Real Estate and Industrials of note.
Three Month Winners: Industrials, Communication Services, Utilities and Financials of note.
Six Month Winners: Consumer Cyclical, Industrials, Technology and Materials of note.
Twelve Month Winners: Technology, Consumer Cyclical, Communication Services and Healthcare of note.
Year to Date: Energy, Materials, Healthcare and Financials of note.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: CDNS, PANW, SBAC, RSG, WMB, O, OXY, ZI, OKE, IR, EXR, TREX, FIVN, NDSN of note.
Tuesday Before the Open: HD, MDT, BNS, BMO, TRI, CBRE, LDOS, WLK, BLD, NXST, CROX, M, SPR, AWI, BCO, CBRL of note.
Beats: KFY +0.43, DISH +0.35, DORM +0.27, DISCA +0.04, KBR +0.03
Flat: none
Misses: CTB (-0.17)
Still to Report: RCL
Gap Ups & Down In Early Pre-Market:
Gap up:
LIZI +29%, GLOG +25%, SVAC +12%, PTNR +11%, REI +6%, VXX +4%, DISH +4%
Gap down:
EBIX -32%, PBR -17%, MOGO -10%, ARR -7%, BA -4%, ATO -4%, EVGN -4%, CDXC -4%, FAII -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves – BA CTB DISH (CNBC)
Covid Update: UK to announce lockdown exit plans. (CNBC)
5 Things To Know Before The Market Opens (CNBC)
Stimulus bill may see a vote on Friday but still in limbo. (Bloomberg)
Senator Joe Manchin to vote against OMB nominee Neera Tanden. (NYT)
Dr. Fauci says on weekend shows that Americans could still be wearing masks in 2022. (CNN)
Stock Index Trading & Yesterday’s Results:
Current through 2/19 close. Overall confidence moves from 73% to 70%.
Bold means a change from prior day.
Friday’s results.
Geopolitical:
The President receives the President’s Daily Brief, Oval Office, 9:45 a.m. EST
The President makes an announcement related to small businesses, South Court Auditorium, 12:05 p.m. EST
Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 12:30 p.m. EST
Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 3:00 p.m. EST
The President delivers remarks on the lives lost to COVID-19, The White House, 6:00 p.m. EST
The President, The First Lady, The Vice President, and The Second Gentleman hold a moment of silence and candle lighting ceremony, South Portico, 6:15 p.m. EST
Federal Reserve Governor Bowman speaks at 3:30 p.m. EST.
Economic:
January Leading Indicators are due out at 10:00 a.m. EST and expected to rise to 0.4% from 0.3%.
Investor, Sellside and Industry Meetings
EPD TTM (Investor Day) EYEN (Webcast) PAVM PRQR (Conference Call)
Sellside Confrerences: SVB Leerink 10th Annual Global Healthcare Conference (2/22-2/26) KeyBanc Electric Vehicle Supply Chain Virtual Conference. (2/22) JP Morgan Taiwan CEO Conference (2/22-2/23)
Industry Conferences: Gartner Security & Risk Management Summit (2/22-2/23)
M&A Activity:
Goodyear Tire (GT) to buy Cooper Tire (CTB) for $54.36.
M&T Bank (MTB) to buy Peoples United (PBCT) in an all stock deal.
Upgrades & Downgrades of Note This Morning: Note that downgrades remain prevalent in February.
Today’s Sellside Recommendations below.
Friday Sellside Recommendations
