CAPIS Morning Note – 4/7/21: Stocks Drifting Modestly Lower, FOMC Notes At 2:00 P.M. EDT
Breaking News: Earnings Out After The Close Of Note: Beats: SGH +0.07 Flat: None Misses: None Capital Raises: IPOs Priced or News: New SPACs launched: CA Healthcare Acquisition Corp (CAHC) to merge with LumiraDx. Secondaries Priced: None of note. Notes Priced of note: TRTN VRNT of note. Common Stock filings: AMTI EXPR FIXX NOG OM PHR UPST XOMA…
Breaking News:
Earnings Out After The Close Of Note:
Beats: SGH +0.07
Flat: None
Misses: None
Capital Raises:
IPOs Priced or News:
New SPACs launched: CA Healthcare Acquisition Corp (CAHC) to merge with LumiraDx.
Secondaries Priced: None of note.
Notes Priced of note: TRTN VRNT of note.
Common Stock filings: AMTI EXPR FIXX NOG OM PHR UPST XOMA 0f note.
Selling Shareholders of note: XTNT of note.
Private Placement of Public Entity (PIPE):
Mixed Shelf Offerings: CXW of note.
Convertible Offering & Notes Filed: IONS LI of note.
Note Offerings Filed: MRK 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:
Amazon (AMZN) CEO Jeff Bezos supports a rise in corporate tax rate.
Fox Corporation (FOXA) sues Flutter to enforce rights to acquire 18.6% ownership interest in FanDuel Group.
CDC says that cruises could be operational by mid-summer. (Bloomberg)
Index Changes: NVST into S&P 400 and IDCC to S&P 600 prior to trading next Monday.
Dividend Raises:
Split Announcement:
Raises Guidance: SGH HIMX
Lowers Guidance:
Buyback Announcements:
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -6 Dow Jones Industrial Average -51 NASDAQ -27 Russell 2000 -2.75 Fair values are mixed. Asia mixed and Europe higher. VIX is at 19.70 from 19.46 yesterday this morning in futures. VIX closed at 18.12 from 17.91 and the three month futures at 21.16 from 20.96.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $131.70 from $131.34 with the yield at 1.698% from 1.725%. Bitcoin $58,694.86 @ $-260 -0.44%.
Positive Sectors On Tuesday: Consumer Cyclical, Communication Services and Consumer Defensive.
Negative Sectors On Tuesday: Healthcare, Industrials 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: RGP of note.
Thursday Before the Open: STZ, CCL, CAG, APOG of note.
Earnings This Morning Of Note:
Beats: RPM +0.08, SMPL +0.02
Flat: MSM +0.00
Misses: none
Still to Report: LW
Erlanger Research Advance/Decline Chart/Table –Updated through 4/6.
Gap Ups & Down In Early Pre-Market:
Gap up:
CAHC +20%, NVST +9%, AKBA +7%, IDCC +7%, EBON +6%, TMDX +5%
Gap down:
FGEN -29%, XOMA -10%, FIXX -10%, PHR -7%, UPST -5%, IONS -4%, MSM -4%, LI -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks making the biggest moves: BYND NOK LI of note. (CNBC)
Treasury Secretary Janet Yellen to meet with G-20 on global minimum tax. (Reuters)
J.P. Morgan (JPM) CEO Jamie Dimon says economic boom could run into 2023 “easily”. (CNBC)
Morgan Stanley (MS) sold $5 billion in stocks held by Archegos before sales hit other firms. (CNBC)
Coinbase reports Q1 revenue jumped to $1.8 billion ahead of direct listing. (CNBC)
Bold means a change from prior day.
4/6 results.
Geopolitical:
The President and The Vice President receive the President’s Daily Brief, Oval Office, 9:50 a.m. EDT
Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 10:30 a.m. EDT
Press Briefing by Press Secretary Jen Psaki and Secretary of Commerce Gina Raimondo, James S. Brady Press Briefing Room, 12:15 p.m. EDT
The President delivers remarks on the historic investments in the American Jobs Plan; The Vice President also attends, South Court Auditorium, 1:45 p.m. EDT
Federal Reserve Chicago President Charles Evans speaks at 9:00 a.m. EDT.
Federal Reserve Dallas President Robert Kaplan speaks at 11:00 a.m. EDT.
Federal Reserve Richmond President Tom Barkin speaks at 12:00 p.m. EDT.
Economic:
API Petroleum Institute Data is due out at 4:30 p.m. EDT.
MBA Mortgage Applications fell -5.1% this morning and last week fell -2.1%.
February Trade Balance is due out at 8:30 a.m. EDT and is expected to fall to -$70.5 billion from $-68.2 billion.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
The latest Federal Reserve Open Market Committee minutes are out at 2:00 p.m. EDT.
Meeting & Conferences of Note:
SMTC CARA CTMX OKTA CCL NNBR ( Investor Meeting) LUMN (Analyst Day) COST (Conference Call) CYDY (Webinar) NLST (Update)
Sellside Conferences: Wells Fargo Biotech Corporate Access Days (4/6-8) Morgan Stanley Triple Net REIT Days (4/6-8)
Industry Conferences: American Chemical Society Spring Virtual Meeting (4/5-10) Alliance for Regenerative Medicine Cell & Gene Meeting on the Mediterranean (4/6-9)
M&A Activity
Everbridge (EVBG) to buy xMatters for $240 million in cash.
Upgrades & Downgrades of Note From Sellside Firms:
Tuesday Recommendations:
