CAPIS Morning Note – 3/10/21: Stocks React Positively To CPI Data
Breaking News: CPI came in at 0.4% and Core CPI was 0.1% so stocks took that as good news and indexes move higher with yields a bit lower. (Finviz.com) Earnings Out After The Close Of Note: Beats: ABM +0.42, AVAV +0.14, NARI +0.13, HRB +0.12, MDB +0.06, ARRY +0.02, XM +0.02 Flat: LPRO +0.00 Misses: SRRK…
Breaking News: CPI came in at 0.4% and Core CPI was 0.1% so stocks took that as good news and indexes move higher with yields a bit lower. (Finviz.com)
Earnings Out After The Close Of Note:
Beats: ABM +0.42, AVAV +0.14, NARI +0.13, HRB +0.12, MDB +0.06, ARRY +0.02, XM +0.02
Flat: LPRO +0.00
Misses: SRRK (2.18), OSH (0.13)
Capital Raises:
IPOs Priced or News: Roblox (RBLX) to go public today at $45 a share.
New SPACs launched:
Secondaries Priced: ATHM JNCE WHD CAE XENE of note.
Notes Priced of note: ITRI of note.
Common Stock filings: JNCE XENE ITRI 0f note.
Selling Shareholders of note: of note.
Mixed Shelf Offerings: HUM None of note.
Convertible Offering & Notes Filed: BL of note.
Capital Raise Summary From The Trade Exchange ,bringing traders and investors real time news and Squawk Box, and other sources.
News After The Close:
Just Energy (JE) declares bankruptcy under Chapter 15.
Penn National Gaming (PENN) gets approval to launch Barstool Sportsbook mobile app in Illinois.
Monthly assets out for IVZ AB APAM BEN WDR
Pfizer (PFE) and BioNTech (BNTX) could get to 3 billion vaccine doses by 2022. (Bloomberg)
Honeywell (HON) picks up $476 million engine production contract for Army Chinook Fleet.
Visa (V) sees February U.S. payments up +9%.
Dividend Raises: TOL QCOM
Split Announcement:
Raises Guidance:
Lowers Guidance
Stock Buyback New Or Increase:
Insider Buys: (source The Trade Exchange)
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +15 Dow Jones Industrial Average +176 NASDAQ +80 Russell 2000 +20. Fair values are mixed. Asia mixed and Europe mixed. VIX is at 23.60 from 24.70 this morning in futures. VIX closed at 24.03 from 25.47 and the three month futures at 27.28 from 28.13.
Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132.20 from $132.28 with the yield at 1.559% from 1.54%. Bitcoin +$972.69 @ $55,362.60.
Positive Sectors On Tuesday: Consumer Cyclical, Technology and Communication Services.
Negative Sectors On Monday: Energy of note.
One Month Winners: Energy, Financials and Communication Services of note.
Three Month Winners: Materials, Industrials and Financials of note.
Six Month Winners: Energy, Financials and Materials of note.
Twelve Month Winners: Consumer Cyclical, Technology and Materials of note.
Year to Date: Energy, Communication Services, Financials and Materials of note.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: ORCL, FNV, GDS, BLDP, CLDR, SUMO, AMC, KRO, CVGW, BEST, LC, CMTL of note.
Thursday Before the Open: JD, CCL, WB, DOYU, FIZZ, CELH, OPCH, HHR, SCWX, SHYF, GOGO, MYE, GCO of note.
Earnings This Morning Of Note:
Beats: UNFI +0.44, REVG +0.08, GSKY +0.07, VERX +0.01
Flat: CPB +0.00
Misses: TUP (0.54), SCOR (0.12), DRVN (0.12)
Still to Report: VRA
Still to Report: none
Erlanger Research Advance/Decline Chart/Table –Updated through 3/9. Breadth is improving off its recent lows.
Gap Ups & Down In Early Pre-Market:
Gap up:
MNOV +90%, XELA +51%, CYBE +22%, AFMD +19%, OM +13%, IAC +10%, BLDP +9%, GSKY +7%, ABM +6%, NARI +6%, AER +5%, HT +5%, CLNE +4%, CLNE +4%, GE +4%
Gap down:
JNCE -5%, XENE -4%, ARRY -4%, XM -4%, APA -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves GE LLY CPB (CNBC)
House to send $1.9 trillion Stimulus Plan to White House today. (CNBC)
Fixed Income Manager of Doubleline Jeffrey Gundlach sees more inflation ahead. (CNBC)
ING Strategist Antoine Bouvet sees 10 year spiking well above 2.00% in next three months. (CNBC)
CNBC says that restaurant activity back at pre-pandemic levels in Texas, Nevada and Oklahoma.
CNBC reports that David Tepper says rate moderation is temporary and believes that stimulus will leak into stock and bond markets but that “something” will happen over the net couple of months.
Index Results
Current through 3/9 close. Overall confidence moves to 80% from 53%.
Bold means a change from prior day.
3/9 results.
Geopolitical:
The President and The Vice President receive the President’s Daily Brief, Oval Office, 9:50 a.m. EST
Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 11:00 a.m. EST
Press Briefing by Press Secretary Jen Psaki and Special Assistant to the President & Coordinator for the Southern Border Ambassador Roberta Jacobson, James S. Brady Press Briefing Room, 12:30 p.m. EST
The President hosts an event with the CEOs of Johnson & Johnson and Merck, South Court Auditorium, 3:00 p.m. EST
Economic:
Weekly API Petroleum Institute data is due out at 4:30 p.m. EST.
The latest short interest is out through the period of 2/10 to 2/24 and NYSE rose by 0.86% and NASDAQ by 1.53%
Weekly MBA Mortgage Applications were out at 7:00 a.m. EST and fell -1.3% from 0.5% a week ago.
February CPI is due out at 8:30 a.m. EST and is expected to rise to 0.4% from 0.3%.
Treasury 10 Year Auction at 1:00 p.m. EST.
February Treasury Budget is due out at 2:00 p.m. EST and came in at $-235.3 billion in January.
Meetings, Sellside Conferences and Industry Conferences
VZ RPD CYBR LAD AVY LHX MLVF GE ADDYY (Investor Meetings) NPTN GOL (Conference Call) MLVF (Analyst Day) EHC (Webcast) EGAN (Update)
Sellside Conferences: Deutsche Bank TMT Conference (3/8-10) Citi Global Property CEO Conference (3/8-10) UBS Global Consumer and Retail Conference (3/9-10) Wolfe Research FinTech Conference (3/9-11) RBC Global Financial Institutions Conference (3/9-10) Barclays Global Healthcare Conference (3/9-11) Truist Technology, Internet & Services Conference (3/9-10) Baird Vehicle Technology & Mobility Conference (3/9-10) Bank of America Consumer & Retail Technology Conference (3/9-11) Stephens Best Ideas Conference (3/10-11) Jefferies Enterprise Communication Summit (3/10) UBS Best of Business Services, Industrials, Green Mobility, Leisure and Transport (3/10) Cowen Mobility Disruption Conference (3/10-11) Bank of America Refining Conference (3/10-11)
Industry Conferences: International Conference on Alzheimer’s & Parkinson’s Diseases (3/9-14)
M&A Activity
General Electric (GE) to sell leasing unit to AerCAp in $30 billion deal.
Hilton Grand Vacations (HGV) to buy Diamond Resorts for $1.4 billion.
Upgrades & Downgrades From Sellside Firms – For Up has to be a Buy. For a Down has to be a Sell or Underweight.
Today’s Recommendations:
Tuesday Recommendations:
