Quote of the Day: “There are times when there are rocky moments, a little bit of stormy weather, but I’m here to tell you the future is bright and exciting,” -Elon Musk to employees yesterday
Overnight Summary & Early Morning Trading: The S&P 500 finished Thursday lower by -0.22% at 5662.89, Wednesday higher by 1.08% at 5675.29 effectively where we closed on Monday. Futures are lower this morning by -12.25 (-0.21%) at 5700 around 7:45 a.m. EDT after being lower earlier in the session. The range is 500 points on the S&P 500 for the year, 5600 to 6100. Thought for the week: Moving above 5700 on the cash, not futures, would be a big deal after recapturing 5600 last Friday. We were only 37 points on the cash away from 5700 again after yesterday’s weak close.
Breaking:
Chart of the Day: Man oh man did the shorts get it right on Nike (NKE). Maybe their new slogan should be “Just Don’t Do It”.
Key Events of Note Today:
- Weekly Baker Hughes Rig Count is due out at 1:00 p.m. EDT.
Notable Earnings Out After The Close
- Beats: LAZR +0.89, LEN +0.44, NKE +0.24, MU +0.13, KLC +0.04, CURV +0.03 of note.
- Misses: FDX -0.05 of note.
- IPOs For The Week:
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- FHTX files prospectus for issuance of up to $100 mln common stock offering.
- Notes Priced:
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements.
- ATEN issues $25 mln aggregate principal amount of its 2.75% Convertible Senior Notes due 2030 in a private offering.
- Selling Shareholders of note:
- VSTM files for 1,416,939 shares of common stock offering by selling shareholders
- Mixed Shelf Offerings:
- Convertible Offerings & Notes Filed:
Biggest Movers Up & Down Last Week: Well none posted as last week was too volatile for an update. If that does not mark the bottom, then I do not know what does.
- Movers Up: LAZR +9.1%, CURV +3.8%, MU +3.4%, SCHL +2.4% of note.
- Movers Down: QUBT -11.1%, PL -10.5%, FDX -5.5%, NKE -4%, NUE -3.5%, LEN -3.4%, X -2.7%, of note.
News After The Close:
- LPL Financials (LPLA) saw brokerage assets at the end of February were $1.82 trillion, an increase of $11.3 billion, or 0.6%, compared to the end of January 2025.
- President Trump says he will soon sign a natural resources deal with Ukraine. (Bloomberg)
- Southwest Air (LUV) ticks slightly lower after one of its flight’s nearly took off from an Orlando, Florida taxiway before air traffic control stopped the departure.
- Nike (NKE) guides down mid-teens on geopolitical dynamics, new tariffs, volatile foreign exchange rates, and tax regulations, as well as the impact of this uncertainty and other macro factors on consumer confidence.. (CNBC)
- 10K or Qs Filings/Delays – (Filed), (Delayed) of note.
Exchange/Listing/Company Reorg and Personnel News:
- DYN appoints Erick J. Lucera as CFRO, effective March 31.
- SCHL authorizes an increase to its repurchase plan to $100 mln.
Buybacks:
- OXLC authorizes up to $150 mln for repurchases.
- CL announces new $5 billion share repurchase program.
Dividends Announcements or News:
- Stocks Ex Div Today: WMT FERG HPE IFF BCH PSO AIN PLTK LTC TPB VTS
- Stocks Ex Div Tomorrow: JCI NRDBY CINF GJNSY POR ZIM ARCO DX NVGS CGBD
- INDB announces 4% increase in quarterly dividend to $0.59/share.
- CL increases quarterly cash dividend 4% to $0.52/share from $0.50/share.
- TNET increases quarterly cash dividend to $0.25/share from $0.275/share.
What’s Happening This Morning: (as of 8:15 a.m. EDT) Futures S&P 500 -12, NASDAQ -61, Dow Jones -107, Russell 2000 -9.60. Europe is lower with Asia higher ex Japan. Bonds are at 4.21% from 4.203% yesterday on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower. Gold, Silver and Copper lower. The U.S. Dollar is lower versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $84,166 from $85,254 lower by $-60 at -0.07%.
- Daily Positive Sectors: Utilities and Energy were higher.
- Daily Negative Sectors: Materials, Industrials and Consumer Cyclicals led the losers.
- One Month Winners: Healthcare and Energy of note.
- Three Month Winners: Healthcare, Energy and Utilities of note.
- Six Month Winners: Utilities, Financials, Communication Services and Consumer Cyclicals of note.
- Twelve Month Winners: Utilities, Financials, Communication Services, Consumer Defensive and Technology of note.
- Year to Date Winners: Materials, Financials, Healthcare, Consumer Defensive, and Real Estate of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Friday After the Close: None of Note
- Monday Before The Open: None of Note
Notable Earnings of Note This Morning:
- Flat: None of note
- Beats: None of note.
- Misses: NIO -0.97 of note.
- Still to Report: CCL of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: X, NUE, NKE of note.
Advance/Decline Daily Update: The A/D fell to major support making new lows, before a rebound the last three of four days.
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: AVR +12.7%, LAZR +10.4%, TLX +4.8%, COE +4.8%, FNKO +4.3%, CURV +4%, DMRC +3.5%, EDIT +2.2%, EHAB +2.1% of note.
- Gap Down: QUBT -8.7%, PL -8.5%, KLC -8.2%, FDX -7.8%, VSTM -7.2%, NKE -6.5%, NIO -5.9%, LEN -4.1%, MU -3.2%, NUE -2.9%, DOMO -2.2% of note.
Insider Action: None of note see Insider Buying with dumb short selling. None of Note 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.
- Bloomberg: London Heathrow Shut Due to Fire and Power Loss.
- Stocks Making The Biggest Moves: CLD NKE FDX
- Bloomberg The Big Take – The “China Shock” is destroying jobs around the world. (Podcast)
- Bloomberg Odd Lot – The Great Jones Act Debate. (Podcast)
Bolded Royal Blue means behind a Pay Wall.
Economic & Geopolitical:
- None of note besides Weekly Baker Hughes Rig Count due out at 1:00 p.m. EDT.
- President Trump’s Daily Schedule.
- President Trump and Secrretary of Defense Hegseth deliver remarks at 11:00 a.m. EDT.
- President Trump heads to Trump National Golf Club Bedminster at 5:00 a.m. EDT.
- Federal Reserve Speakers of note.
- Federal Reserve Chicago President Austan Goolsbee at 8:30 a.m. EDT.
- Federal Reserve New York President John Williams at 9:05 a.m. EDT.
M&A Activity and News:
- .
Moving Average Table: Move from 23% to 23% today.
Meeting & Conferences of Note: (Not updated today, back tomorrow)
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- Sellside Conferences:
- Bank of America Latam C-Suite Conference
- RBC Ophthalmology Conference
- TD Cowen Life Sciences Winter Meeting & Ski Trip
- Sellside Conferences:
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- Shareholder Meetings: BTTR, DTIL, MRKR, WGS
- Top Analyst, Investor Meetings:
- Update: None of note.
- Fireside Chat
- R&D Day: None of note.
- FDA Presentation:
- Industry Meetings or Events:
- Advanced Technologies & Treatments for Diabetes
- ETAADAC Conference
- LSI USA ’25 Conference
- NVIDIA GTC AI Conference
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: Nothing of note
- Downgrades: Nothing of note.
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