CAPIS Morning Note – 3/25/21: Futures Mixed, As Crude Drop Continues
Breaking News: Earnings Out After The Close Of Note: Beats: RH +0.37, AMWL +0.22, FUL +0.18, KBH +0.08, SCVL +0.01 Flat: none Misses: GRWG (0.04) Capital Raises: IPOs Priced or News: SEMRush (SEMR) priced at $14 at low end of range. Diversey Holdings (DSEY) priced at $15 mid point of range. Cricut (CRCT) priced at…
Breaking News:
Earnings Out After The Close Of Note:
Beats: RH +0.37, AMWL +0.22, FUL +0.18, KBH +0.08, SCVL +0.01
Flat: none
Misses: GRWG (0.04)
Capital Raises:
IPOs Priced or News: SEMRush (SEMR) priced at $14 at low end of range. Diversey Holdings (DSEY) priced at $15 mid point of range. Cricut (CRCT) priced at $20 at the end of the range. Olink Holding (OLK) priced at $20 above range. VIZIO (VZIO) priced at $21 which is the low end of the range. LAVA Therapeutics (LVTX) priced at $125 mid range.
Secondaries Priced: CERT EVFM FLL of note.
Notes Priced of note: ACCD KKR of note.
Common Stock filings: AEZS BNGO EVFM FLL WTER 0f note.
Selling Shareholders of note: None of note.
Mixed Shelf Offerings: ETNB KTRA RILY SNDX of note.
Convertible Offering & Notes Filed: None 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:
Celanese (CE) expands capacity for methanol production at Clear Lake Facility.
L Brands (LB) 10% Leslie Wexner sell 3.05 million shares worth $177.8 million.
Index Changes – NBIX to join S&P 400 and OI to join S&P 600 on 3/30.
Rite Aid (RAD) provides poor guidance.
AstraZeneca (AZN) restates efficacy of the Covid-19 vaccine to 76% from 79%.
Dividend Raises: RC (special dividend)
Split Announcement:
Raises Guidance: SCVL FUL RH
Lowers Guidance:
Buyback Announcements:
Insider Purchases: We note CRTX has moderate short selling and is worth buying as shorts struggle. MRUS sees heavy shorts and they do well so we would avoid following the insider. Insider Action From The TradeXchange and Short Date From Erlanger Research. Through 3/24.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -14 Dow Jones Industrial Average -104 NASDAQ -60 Russell 2000 -22.27 Fair values are mixed. Asia mixed and Europe lower. VIX is at 23.05 from 22.20 this morning in futures. VIX closed at 21.20 from 20.30 and the three month futures at 24.40 from 23.80.
Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $132.19 from $132.02 with the yield at 1.605% from1.624%. Bitcoin $50666.05 @ $-4256.72 -7.98%.
Positive Sectors On Wednesday: Energy, Industrials and Materials.
Negative Sectors On Wednesday: Consumer Cyclical, Communication Services and 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: GAN, OXM, PRGS, SAIC of note.
Friday Before the Open: none of note.
Earnings This Morning Of Note:
Beats: THRY +3.05, MOMO +1.08, DRI +0.29
Flat: none
Misses: ANNX (0.17), ZNTL (0.06)
Still to Report: none
Erlanger Research Advance/Decline Chart/Table –Updated through 3/24.
Gap Ups & Down In Early Pre-Market:
Gap up:
CIDM +27%, NGA +9%, NBIX +7%, GRWG +7%, RH +7%, OI +6%, LITE +6%, TCDA +6%, FUL +5%, JEF +5%, GNPK +5%
Gap down:
EVFM -18%, RAD -18%, EOLS -12%, SYBX -7%, IIVI -6%, KBH -4%,
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves – RAD WBA DRI COHR RH KBH FUL PHG AMD (CNBC)
Biggest Analyst Calls NFLX GPS GM GOOGL. (CNBC)
The large container ship remains stuck in the Suez Canal. (Bloomberg)
North Korea launched two ballistic missiles today. (WSJ)
President Biden aims to introduce $4 trillion infrastructure bill. (Reuters)
U.S. Regulators to look into SPAC frenzy. (Reuters)
Chicago office vacancy rates could hit 18% to 22% by 2022. (ABC News)
Nike (NKE) hit by social media concerns over cotton use from China. (CNBC)
Vail Resorts (MTN) cuts EPIC pass by 20%.
Current through 3/24 close. Overall confidence moves from 53% to.
Bold means a change from prior day.
3/24 results.
Geopolitical:
The President receives the President’s Daily Brief, Oval Office, 9:30 a.m. EDT
The President holds a formal press conference, East Room, Pre-Credentialed Media, 1:15 p.m. EDT
The President meets virtually with the European Council during its summit, Situation Room, 3:45 p.m. EDT
Federal Reserve Vice Chairman Richard Clarida to speak at 10:10 a.m. EDT.
Federal Reserve New York President John Williams to speak at 10:30 a.m. EDT.
Federal Reserve Atlanta President Raphael Bostic to speak at 12:00 p.m. EDT.
Federal Reserve Chicago President Charles Evans to speak at 1:00 p.m. EDT.
Big Tech CEOS back to the Hill to testify before the House on content at 12:00 p.m. EDT.
Economic:
The latest NYSE and NASDAQ Short Interest Data for the period ended settlement of March 15th and trade date March 11th is due out after the close. In this latest period, which covers from February 24th through March 11th , the S&P 500 rose 3.36%. NYSE rose 2.28% and NASDAQ rose 5.56%.
Q4 GDP (final) is due out at 8:30 a.m. EDT and is expected to stay at 4.1%. Actual 4.3%.
Weekly Jobless Claims are due out at 8:30 a.m. EDT. Actual 689,000.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
$62 billion of 7 Year Notes auctioned at 1:00 p.m. EDT.
Meeting & Conferences of Note:
ALKS AQST AZN BLKB CE DOMO KBR UGP (Investor Meetings) HON (Webcast)
Sellside Conferences: Sidotti & Co Spring Investor Conference (3/23-25) Morgan Stanley Chem Tech Day (3/25) Jefferies Business Services Summit (3/25/21) Bank of Americe EMEO Real Estate CEO Conference (3/25/26)
Industry Conferences:
M&A Activity
CBOE Global Market (CBOE) buys Chi-X-Asia Pacific from J.C. Flowers.
Coherent (COHR) accepts II-VI (IIWI) acquisition proposal and turns down Lumentum (LITE).
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’s Recommendations:
