CAPIS Morning Note 3/11/21- Stocks Up Post Stimulus Bill Approval in House and Better Weekly Jobless Claims
Breaking News: Earnings Out After The Close Of Note: Beats: BEST +1.75, TTCF +0.53, GDS +0.28, FNV +0.16, LC +0.11, SUMO +0.05, ORCL +0.05, ASAN +0.04, CLDR +0.04, BMBL +0.03, KRO +0.03 Flat: none Misses: BLDP (0.01), AMC (0.02), CVGW (0.04), FRG (0.23) Capital Raises: IPOs Priced or News: Coupang (CPNG) priced at $35 above range…
Breaking News:
Earnings Out After The Close Of Note:
Beats: BEST +1.75, TTCF +0.53, GDS +0.28, FNV +0.16, LC +0.11, SUMO +0.05, ORCL +0.05, ASAN +0.04, CLDR +0.04, BMBL +0.03, KRO +0.03
Flat: none
Misses: BLDP (0.01), AMC (0.02), CVGW (0.04), FRG (0.23)
Capital Raises:
IPOs Priced or News: Coupang (CPNG) priced at $35 above range of $32 to $34.
New SPACs launched:
Secondaries Priced: HESM SMSI MGP NVEE of note.
Notes Priced of note: None of note.
Common Stock filings: MGP HESM SVRA 0f note.
Selling Shareholders of note: None of note.
Mixed Shelf Offerings: DMAC ESTE HRTG ORI SIBN VFC of note.
Convertible Offering & Notes Filed: BAND IVC OSH 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:
Moderna (MRNA) doses first participants in study looking at Covid-19 booster vaccine candidates.
T-Mobile (TMUS) bought $9.3 billion of C-Band investment which gives them more mid-band spectrum.
Dividend Raises: ORCL KAI RWT
Split Announcement:
Raises Guidance: SUMO
Lowers Guidance
Stock Buyback New Or Increase:
Insider Buys: CERN ATEC NLSN FSLY APRN WMT ANAB TEN IRWD (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 higher and Europe mixed. VIX is at 23 from 23.60 this morning in futures. VIX closed at 24.03 from 25.47 and the three month futures at 27.28 from 28.13.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $132.92 from $132.20with the yield at 1.497% from 1.559%. Bitcoin +$406.51 @ $56,703.02
Positive Sectors On Wednesday: Energy. Financials and Industrials.
Negative Sectors On Wednesday: Technology 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: DOCU, ULTA, GDRX, WPM, MTN, MSP, APG, MAX, MVIS, ZUO, DOMO, ZUMZ, LOCO of note.
Friday Before the Open: JKS, BKE of note.
Earnings This Morning Of Note:
Beats: GCO +0.80, JD +0.30, SHYF +0.02, OPCH +0.02
Flat: none
Misses: MYE (0.05), DCBO (0.10), GOGO (0.11), SCWX (0.13), KYMR (0.15)
Still to Report: CELH
Erlanger Research Advance/Decline Chart/Table –Updated through 3/10. Breadth is improving off its recent lows.
Gap Ups & Down In Early Pre-Market:
Gap up:
VIR +56%, OGI +35%, SLGG +21%, BMBL +10%, AVEO +10%, AMC +10%, ASAN +9%, FOSL +7%, SPFR +7%, SKLZ +7%, ENFA +6%, GOEV +6%, FSM +6%, JD +6%, MSGN +5%, BLDP +4%, SURF +4%
Gap down:
ALTO -15%, HESM -12%, NVEE -12%, JE -9%, KDMN -8%, IVC -7%, CLDR -7%, SMSI -6%, BEST -6%, ORCL -6%, GLSI -4%, TALO -4%, SUMO -4%, LC -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves GE LLY CPB (CNBC)
Senate Majority Leader Schumer working on legislation to counter China. (The Washington Post)
Maryland removes all restrictions on restaurants and other businesses. (CBS News)
China tightens grip on Hong Kong with new election laws. (FT)
Facebook (FB) asks Judge to dismiss anti-trust lawsuits. (WSJ)
Mexico votes to legalize marijuana. (NYT)
EU is having a hard time building anti-trust case against Amazon (AMZN). (FT)
Tesla (TSLA) increases prices on three models. (Reuters)
U.S. and China create a semiconductor working group to reduce export controls. (SCMP)
Great interview with Pfizer (PFE) CEO Albert Bourla on CNBC. (CNBC)
Index Results
Current through 3/10 close. Overall confidence moves to 94% from 80%.
Bold means a change from prior day.
3/10 results.
Geopolitical:
The President and The Vice President receive the President’s Daily Brief, Oval Office, 11:30 a.m. EST
Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 12:30 p.m. EST
The President and The Vice President receive the Weekly Economic Briefing, Oval Office, 3:15 p.m. EST
The President addresses the nation on the anniversary of the COVID-19 shutdown, East Room, 8:02 p.m. EST
Economic:
Weekly Jobless Claims are due out at 8:30 a.m. EST. Came in at 712,000 versus estimates of 725,000 and prior of 754,000.
The European Central Bank (ECB) is out with its latest announcement and meeting. Will increase bond purchases to slow rising yields.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EST.
Treasury 30 Year Auction at 1:00 p.m. EST.
Meetings, Sellside Conferences and Industry Conferences
ZIOP CFX FLOW PSN DGX (Investor Meetings) TMUS MOS (Analyst Day) PRTA GMBL LODE (Webcast)
Sellside Conferences: Wolfe Research FinTech Conference (3/9-11) Barclays Global Healthcare Conference (3/9-11) Bank of America Consumer & Retail Technology Conference (3/9-11) Stephens Best Ideas Conference (3/10-11)Cowen Mobility Disruption Conference (3/10-11) Bank of America Refining Conference (3/10-11) D.A. Davidson Consumer Growth Conference (3/11) Gabelli & Co SPecialty Chemicals Conference (3/11-12) Loop Capital Consumer, Industrial, and TMT Investor Conference (3/11-12)
Industry Conferences: International Conference on Alzheimer’s & Parkinson’s Diseases (3/9-14)
M&A Activity
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:
Wednesday Recommendations:
