Overnight Summary & Early Morning Trading: The S&P 500 finished Friday higher by 0.08% at 5667.56. Thursday lower by -0.22% at 5662.89. Futures are higher this morning by 62.25 (+1.09%) at 5779.75 around 7:00 a.m. EDT. The range is 500 points on the S&P 500 for the year, 5600 to 6100, but could move to 400 points. Thought for the week: Moving above 5700 on the cash, not futures, would be a big deal after recapturing 5600 last Friday.
Breaking:
Quick Comment: Today is a bit abbreviated as was out of town for a research conference and got back early this morning due to flight delay.
Key Events of Note Today:
- PMIs are due out at 9:45 a.m. EDT.
- Chicago Fed Manufacturing out at 8:30 a.m. EDT.
- 3 and 6 month Treasury Auctions at 11:30 a.m. EDT.
Notable Earnings Out After The Close
- Beats: None of note.
- Misses: None of note.
- IPOs For The Week: CRWV, FATN, LGPS, OMSE
- 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.
- Selling Shareholders of note:
- QBTS files for 5,000,000 common stock offering by selling shareholder.
- KRT files for 2,000,000 shares of common stock by selling shareholders.
- KNTK files for 11,520,738 shares of Class A common stock offering by selling shareholder.
- Mixed Shelf Offerings:
- FITB mixed shelf securities offering
- TRGP files mixed shelf securities offering
- STNG files mixed shelf securities offering
- BLK files mixed shelf securities offering
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: RGNX (8.11 +20.68%), ALNY (279.87 +15.76%), AMRC (13.42 +27.32%), GES (12.00 +23.71%), SIG (59.09 +23.22%), CPS (16.51 +18.44%), GRPN (17.17 +15.62%), ROKU (77.95 +15%), PLAY (19.78 +13.65%), STNE (11.15 +14.71%), PRA (23.11 +47.07%), CNNE (18.85 +15.43%), GEL (15.46 +16.64%) of note.
- Movers Down: SRPT (74.50 -23.34%), CRBP (5.87 -13.55%), HQY (84.39 -13.37%), CYRX (5.59 -12.79%), GDS (27.73 -21.39%), TUR (30.63 -20.11%), FG (34.78 -18.61%), of note.
News After The Close:
- Bell Boeing (BA) Joint Program Office awarded a $590 mln U.S Navy contract modification.
- March Madness down to 16 teams.
- 10K or Qs Filings/Delays – (Filed), (Delayed) of note.
Exchange/Listing/Company Reorg and Personnel News:
- CENX appoints Peter Trpkovski as Chief Financial Officer; succeeds Jerry Bialek, who is departing the Company following a planned transition
- SVCO announces resignation of CFO Ryan Benton, effective April 11; Keith Tainsky appointed interim CFO.
Dividends Announcements or News:
- Stocks Ex Div Today: JCI NRDBY CINF GJNSY POR ZIM ARCO DX NVGS CGBD
- Stocks Ex Div Tomorrow: TTE MO E STM BBY VIV ADO
What’s Happening This Morning: (as of 8:05 a.m. EDT) Futures S&P 500 +66, NASDAQ +294, Dow Jones +380, Russell 2000 +28. Europe is lower with Asia higher ex Japan. Bonds are at 4.296% from 4.21% Friday 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, lower against the Pound and higher against the Yen. Bitcoin is at $87,496 from $84,166 higher by $2465 at 2.92%.
- Daily Positive Sectors: Communication Services and Technology led the way higher.
- Daily Negative Sectors: Real Estate, Materials, Utilities and Energy 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)
- Monday After the Close:
- Tuesday Before The Open: None of Note
Notable Earnings of Note This Morning:
- Flat: None of note
- Beats: None of note.
- Misses: None of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Daily Update: The A/D fell to major support making new lows, before a rebound the last four of five days.
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: AZEK +18.7%, LAES +5.4%, QBTS +5.3%, RIOT +4.7%, VALN +4%, TSLA +3.9%, SVCO +3.1% of note.
- Gap Down: DBVT -19.4%, JHX -14.4%, GMAB -3.7% 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: Treasuries Fall on News Trump Will Lower Tariff Rates. (Bloomberg)
- Stocks Making The Biggest Moves: TSLA NUE PINS. (CNBC)
- 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:
- Chicago Fed Manufacturing Index is due out at 8:30 a.m. EDT.
- March Global US Manufacturing PMI is due out at 9:45 a.m. EDT and came in last month at 52.70.
- March Global US Services PMI is due out at 9:45 a.m. EDT and came in last month at 51.
- President Trump’s Daily Schedule.
- President Trump and the Governor of Lousiana deliver remarks at 2:00 p.m. EDT.
- President Trump participates in Greek Independence Day at 3:00 p.m. EDT.
- Federal Reserve Speakers of note.
- Federal Reserve Atlanta President Raphael Bostic at 1:45 p.m. EDT.
- Federal Reserve Governor Michael Barr at 3:10 p.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:
- Craig-Hallum Virtual Quantum Computing Conf
- Leerink Partners Foundations of Discovery, Drugs & Dx
- Leerink Partners Mountain Meeting
- TD Securities Industrials & Infrastructure Services Conf
- Sellside Conferences:
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- Shareholder Meetings: ACNT, CPAC, LGMK, TRVI
- Top Analyst, Investor Meetings: AURA, LUCD
- Update: None of note.
- Fireside Chat
- R&D Day: None of note.
- FDA Presentation: TLX: PDUFA Decision on TLX007- CDx
- Industry Meetings or Events:
- STN East 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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