CAPIS Morning Note – 3/23/21: S&P 500 Lowers While NASDAQ 100 Higher, Fed Front & Center Today
Breaking News: Earnings Out After The Close Of Note: Beats: none Flat: none Misses: TME (0.01) Capital Raises: IPOs Priced or News: New SPACs launched: Secondaries Priced: VRCA ANIX WES SIVB of note. Notes Priced of note: RDFN GRPN JBLU TRIP of note. Common Stock filings: VIAC XGN PLL HUIZ VRCA AVEO ADV 0f note….
Breaking News:
Earnings Out After The Close Of Note:
Beats: none
Flat: none
Misses: TME (0.01)
Capital Raises:
IPOs Priced or News:
Secondaries Priced: VRCA ANIX WES SIVB of note.
Notes Priced of note: RDFN GRPN JBLU TRIP of note.
Common Stock filings: VIAC XGN PLL HUIZ VRCA AVEO ADV 0f note.
Selling Shareholders of note: MP WES CERT ADV of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: VIAC SNDX of note.
Note Offerings Filed: None of note.
Capital Raise Summary From The TradeXchange ,bringing traders and investors real time news and Squawk Box, and other sources.
News After The Close:
Tencent Music (TME) expands multiyear strategic licensing agreement with Warner Music.
Ionis Pharmaceutical (IONS) and Roche (RHHBY) discontinue Phase III GENREATION HD1 study for Huntington’s disease.
Parsons (PSN) wins $250 million Naval Information Warfare Center contract.
Reports that President Biden wants to spend $3 trillion on infrastructure are premature. (Reuters)
Dividend Raises: MITT
Split Announcement:
Raises Guidance:
Lowers Guidance:
Buyback Announcements: DSKE
Insider Purchases: Below is the list of insider buys from yesterday. We note no names have moderate or heavy short selling worth buying. Insider Action From The TradeXchange and Short Date From Erlanger Research. Through 3/22.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -8 Dow Jones Industrial Average -98 NASDAQ +31 Russell 2000 -14 Fair values are mixed. Asia and Europe lower. VIX is at 22.10 from 23.11 this morning in futures. VIX closed at 18.88 from 21.58 and the three month futures at 22.94 from 25.28.
Gold higher, silver lower and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $131.84 from $131.56 with the yield at 1.647% from 1.688%. Bitcoin $55081 @ $-813 -1.45%.
Positive Sectors On Monday: Technology, Healthcare and Real Estate.
Negative Sectors On Monday: Financials, Energy and Industrials 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: ADBE, GME, PACW, HOME, SCS, AIR of note.
Wednesday Before the Open: GIS, APG, WOR, WGO of note.
Earnings This Morning Of Note:
Beats: DOYU +0.23, HUYA +0.03
Flat: INFO
Misses: none
Still to Report: NEOG
Erlanger Research Advance/Decline Chart/Table –Updated through 3/22. Yesterday saw weakness.
Gap Ups & Down In Early Pre-Market:
Gap up:
PED +39%, PMBC +21%, BLFS +17%, CHMA +10%, PTGX +6%, NEWT +6%
Gap down:
ANIX -25%, IONS -21%, XGN -10%, RAVN -9%, DSP -8%, QS -7%, AVEO -6%, PLL -6%, WES -6%, MP -5%, AKRO -5%, VIAC -4%, BLDP -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves – AZN VIAC RUN MSFT BA BIDU BILI TME PTON APO DISCA PFE (CNBC)
Biggest Analyst Calls NFXL RUN LUV. (CNBC)
Comments from Federal Reserve Chairman Powell and Treasury Secretary Yellen are out.
Germany extends lockdowns to mid April. (ABC News)
Microsoft (MSFT) looks to buy Discord for $10 billion. (Bloomberg)
Pelton (PTON) looks to buy several companies. (Bloomberg)
Index Results
Current through 3/22 close. Overall confidence moves from 67% to 73%.
Bold means a change from prior day.
3/22 results.
Geopolitical:
The President and The Vice President receive the President’s Daily Brief, Oval Office, 9:30 a.m. EST
The President departs the White House en route Joint Base Andrews, South Lawn, 1:00 p.m. EST
The President tours the James Cancer Hospital and Solove Research Institute, James Cancer Hospital Solove Research Institute, Columbus, Ohio, 4:10 p.m. EST
The President delivers remarks, James Cancer Hospital Solove Research Institute, Columbus, Ohio, 4:50 p.m. EST
The President arrives at the White House, South Lawn, 7:40 p.m. EST.
Federal Reserve Dallas President Robert Kaplan spoke this morning on CNBC and sees rate increases starting in 2022.
Federal Reserve St. Louis President James Bullard speaks at 9:00 a.m. EDT.
Federal Reserve Atlanta President Raphael Bostic speaks at 10:10 a.m. EDT.
Federal Reserve Richmond President Thomas Barkin speaks at 11:00 a.m. EDT.
Federal Reserve Chairman Powell begins two days of testimony on the Hill alongside Treasury Secretary Yellen. Today before the House Financial Services at 12:00 p.m. EDT.
Federal Reserve Governor Lael Brainard speaks at 1:00 p.m. EDT.
Economic:
February New Home Sales are due out at 10:00 a.m. EDT and expected to fall to 867,000 from 923,000.
$60 billion of 2 Year Notes auctioned at 1:00 p.m. EDT.
Meeting & Conferences of Note:
KO INTC SSD NMTR BWA ATCO RHHBY (Investor Meetings) BANC (Conference Call) APLT (Webcast)
Sellside Conferences: Piper Sandler Energy Conference (3/22-23) Bank of America Energy & Utilities Conference (3/22-24) Bank of America Electronic Payments Symposium (3/22-23) Credit Suisse Digital Consumer Retail Conference (3/23-24) Scotia Howard Weil Annual Energy Conference (3/23-24) Sidotti & Co Spring Investor Conferernce (3/23-25)
Industry Conferences:
M&A Activity
SeaSpine (SPNE) to buy 7D Surgical for $110 million.
Arcosa (ACA) to buy StonePoint Ultimate for $375 million in cash.
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:
