CAPIS Morning Note – 4/22/21: Stock Futures Lower For A Fourth Day
Breaking News: ECB rates remain unchanged. Keep buying 20 billion Euros a month of bonds. Earnings Of Note After The Close: Beats: DFS +2.44, WHR +2.16, CACI +1.09, LRCX +0.90, UFPI +0.80, SLM +0.72, SNBR +0.66, CMG +0.57, VMI +0.45, EFX +0.44, KMI +0.38, LSTR +0.38, NTGR +0.33, PLXS +0.25, CCI +0.24, CHDN +0.23, TCBI +0.23,…
Breaking News: ECB rates remain unchanged. Keep buying 20 billion Euros a month of bonds.
Earnings Of Note After The Close:
Beats: DFS +2.44, WHR +2.16, CACI +1.09, LRCX +0.90, UFPI +0.80, SLM +0.72, SNBR +0.66, CMG +0.57, VMI +0.45, EFX +0.44, KMI +0.38, LSTR +0.38, NTGR +0.33, PLXS +0.25, CCI +0.24, CHDN +0.23, TCBI +0.23, RHI +0.20, RLI +0.17, BXS +0.14, NWE +0.14, SLG +0.14, CVBF +0.11, SAVE +0.08, GGG +0.08, UMPQ +0.05, XM +0.04, CNS +0.03, REXR +0.03, SEIC +0.01, BDN +0.01
Flat: CP +0.00, FR +0.00
Misses: GL (0.12), LVS (0.03), CLB (0.01)
Capital Raises:
IPOs Priced or News: KnowBe4 (KNBE) priced at $31 per share at high end of range. Zymergen (ZY) priced at $31 also at high end of range.
New SPACs launched:
Secondaries Priced: EOLS ZY of note.
Notes Priced of note: None of note.
Common Stock filings: ATOS CYTR NBSE VTVT 0f note.
Selling Shareholders of note: NRBO ATOS of note.
Private Placement of Public Entity (PIPE):
Mixed Shelf Offerings: 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:
Chipotle (CMG) comp sales grew +17.2% versus guidance of mid teens.
Ford (F) plans on more plant shutdowns due to semiconductor shortage.
Walt Disney (DIS) signs Sony (SONY) to bring their titles to Disney+. Sony leaves Netflix (NFLX).
Intel (INTC) cleared of patent infringement with NXP Semiconductors (NXPI).
Index Changes:
Dividend Raises: KMI
Split Announcement:
Raises Guidance: SNBR WHR TDC LRCX XM LSTR EFX
Lowers Guidance: NTGR
Buyback Announcements: DHI AXTA RF
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. At highs of the morning.
S&P 500 -5 Dow Jones Industrial Average -23 NASDAQ -38 Russell 2000 -4 Fair values are mixed. Asia mixed and Europe higher. VIX is at 20 from 21.25 this morning in futures. VIX closed at 17.50 from 18.68 and the three month futures is at 21.49.
Gold, silver and copper lower. 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 $132.54 from $132.45 with the yield at 1.559% from 1.564%. Bitcoin $54,874 from $55,279 and this morning at $-692 and -1.18% from yesterday.
Wednesday’s Action – 4/21. All equity and other asset classes were higher, all in all a good rebound.
Positive Sectors On Wednesday: Materials, Healthcare and Consumer Cyclical.
Negative Sectors On Wednesday: Utilities.
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: INTC, SNAP, SIVB, VRSN, FE, STX, CE, SAM, CSL, PBCT, MAT, SKX, GBCI, OZK, WWE, VICR, ABCB of note.
Friday Before the Open: HON, AXP, KMB, SLB, RF, GNTX, ALV, FHB, SXT, AZZ, SBSI of note.
Earnings This Morning Of Note:
Beats: POOL +1.26, HZO +1.02, HRI +0.89, HCA +0.85, DHR +0.83, TSCO +0.59, SAP +0.54, WSO +0.50, RS +0.47, SNA +0.43, ARCH +0.40, FAF +0.39, CADE +0.35, DHI +0.35, BKU +0.33, IQV +0.33, BIIB +0.32, DOW +0.30, ALK +0.24, BX +0.24, SASR +0.23, PNR +0.20, ALLE +0.17, HBAN +0.16, PDS +0.16, LUV +0.15, TPH +0.12, ODFL +0.11, AUB +0.08, SITC +0.05, T +0.05, SON +0.04, TAL +0.04, WNS +0.02, GTLS +0.02, TRN +0.02, CLF +0.01, DGX +0.01
Flat: none
Misses: VLO (0.96), AAL (0.41), MKTX (0.09), BANC (0.09), AEP (0.04)
Still to Report: EWBC, FCX, GPC, NUE, ORI, UNP
Insider Purchases: Below is the list of insider buys from yesterday and this morning. SEAC sees insider action BUT the short sellers are getting it right and they usually do so we would avoid a buy. Insider Action From The TradeXchange and Short Data From Erlanger Research. Update 4/21.
Erlanger Research Advance/Decline Chart/Table –Updated through 4/21.
Gap Ups & Down In Early Pre-Market:
Gap up: TDC +32%, XM +16%, ATOS +8%, EFX +7%, TAL +6%, RHI +4%, RMBS +4%, SLM +4%, LDI +4%, UFPI +4%, KMPH +4%
Gap down: EOLS -16%, NBSE -10%, CS -7%, SNBR -5%, NTGR -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks making the biggest moves AAL TDC EFX (CNBC)
5 Things To Know before the market opens. (CNBC)
India hits record number of Covid-19 cases. (WSJ)
Senate Republicans want ban on earmarks and spending cuts in exchange for raising the debt ceiling. (Politico)
New Apple (AAPL) privacy rules will hurt Facebook (FB). (FT)
Credit Suisse (CS) adds to losses from Archegos scandal. (CNBC)
Virtual Climate Summit held by White House and Biden aims to cut greenhouse gas emissions. (CNBC)
Southwest Airlines (LUV) sees back to break even by June. (CNBC)
Index Moving Averages: All indexes are now above their moving averages. 4/21 Close
Geopolitical:
European Central Bank (ECB) out with its latest update at 7:45 a.m. EDT and then a presser at 8:30 a.m. EDT.
$24 billion 20 Year Treasury Bond Auction at 1:00 p.m. EDT.
The President and The Vice President deliver remarks and The President participates in the virtual Leaders Summit on Climate Session 1: Raising Our Climate Ambition, East Room, 8:00 a.m. EDT
The President receives the President’s Daily Brief, Oval Office, 10:00 a.m. EDT
The President participates in the virtual Leaders Summit on Climate Session 2: Investing in Climate Solutions, East Room, 10:30 a.m. EDT
The President has lunch with The Vice President, Private Dining Room, 12:00 p.m. EDT
Press Briefing by Press Secretary Jen Psaki, Special Presidential Envoy for Climate John Kerry, and National Climate Advisor Gina McCarthy, James S. Brady Press Briefing Room, 1:30 p.m. EDT
The President and The Vice President receive a COVID-19 briefing, Oval Office, 3:45 p.m. EDT
Economic:
Weekly Jobless Claims are out at 8:30 a.m. EDT.
March Existing Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 6.15 million from 6.22 million.
March Leading Indicators are due out at 10:00 a.m. EDT and are expected to rise to 0.6% from 0.2%.
Weekly Natural Gas Inventories are out at 10:30 a.m. EDT.
Meetings & Conferences of Note
GSX (Investor Meeting) NSRGY (Conference Call) SCHW HESAY (Update) DKNG AMRS LTRX GEVO (Webcast) APRE (R&D Day)
Sellside Conferences: Kempen Life Sciences Conference. Bloom Burton & Co Healthcare Investor Conference. Stifel GMP Canada Cross Sector Insight Conference.
Industry Conferences: American Academy of Neurology.
M&A Activity
Upgrades & Downgrades of Note From Sellside Firms:
Wednesday Recommendations:
