CAPIS Morning Note – 6/22/21: Stocks Modestly Higher As Markets Prepare For Federal Reserve Chairman Powell at 2:00 p.m. EDT
Breaking News: Fun Fact: Costco (COST) private label unit did $52 billion in sales which was $20 billion more than Coca-Cola (KO) and double Kraft-Heinz (KFT). Earnings Of Note After The Close: Beats: None Flat: None Misses: None Capital Raises: IPOs Priced or News: New SPACs launched: Acies Acquisition Corp (ACAC) completes combination with PLAYSTATION to…
Fun Fact: Costco (COST) private label unit did $52 billion in sales which was $20 billion more than Coca-Cola (KO) and double Kraft-Heinz (KFT).
Earnings Of Note After The Close:
IPOs Priced or News:
New SPACs launched: Acies Acquisition Corp (ACAC) completes combination with PLAYSTATION to trade as MYPS. Starting today.
Secondaries Priced: NOVN UDR of note.
Notes Priced of note: None of note.
Common Stock filings: LAMR FOCS AFCG 0f note.
Selling Shareholders of note: NKLA WTRG ZEV FOCS of note.
Private Placement of Public Entity (PIPE):
Mixed Shelf Offerings: KOS 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:
Sanderson Farms (SAFM) is looking at potential sale with Continental Grain as a possible suitor.
NextGen Healthcare (NXGN) CEO Rusty Frantz to step down.
Shoe Carnival (SCVL) announces a 2-1 split.
Exxon Mobil (XOM) by up to 10% annually. (Bloomberg)
Federal Reserve Chairman Powell testimony has been released for testimony this morning.
Delta (DAL) to hire 1,000 pilots by next summer. (CNBC)
Alaska Air (ALK) files 8-K, consumer spending levels have surpassed 2019.
Exelixis (EXEL) files patent infringement complaint against Teva Pharmaceuticals (TEVA).
President Biden met with top financial regulators and says system in strong condition.
After hours + SAFM +11% TUP +7% SCVL +3% and – MVIS -10% ACFG -9% FOCS -6% SBLK -5%
Buyback Announcements: TUP
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +5 Dow Jones Industrial Average +29 NASDAQ +31 Russell 2000 +1.71. Fair values are higher. Asia mixed and Europe higher. VIX is at 20 from 20.76 in futures. VIX closed at 17.89 from 20.70.
Gold and silver flat to slightly down with copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132.19 from $132.41 with the yield at 1.487% from 1.438%. Bitcoin is at $30,725 from $32,232 yesterday and lower by $1712 and -5.40%.
Monday’s Action – 6/21 Close.
Positive Sectors On Monday: All sectors were higher led by Energy, Materials and Industrials.
Negative Sectors On Monday: None of note.
One Month Winners: Technology, Real Estate and Communication Services of note.
Three Month Winners: Energy, Real Estate and Financials of note.
Six Month Winners: Energy, Financials, Materials and Communication Services of note.
Twelve Month Winners: Materials, Communication Services, Industrials, Financials and Technology of note.
Year to Date: Energy, Communication Services, Financials, Real Estate and Materials of note.
Stocks were higher, Bonds lower, U.S. Dollar dollar and Commodities mostly higher. Updated 6/21 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: IIPR, KBH, FUL, RSI, SCS of note.
Wednesday Before the Open: ACN, DRI, FIZZ, WOR, MEI, DCBO, GMS, RAD of note.
Earnings This Morning Of Note:
Beats: KFY +0.23
Misses: PLUG (0.03)
Still to Report: CGNT
Below is the list of insider buys from Tuesday morning and this morning sorted by day. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Insider buying and dumb short selling exists in LMST. No data on CMPI. Updated 6/16
Erlanger Research Advance/Decline Chart –Updated through 6/21 close. The QPI Advance/Decline Model has moved to cash this morning despite yesterday’s upside action. Previously, the model appeared in the note and we thought it would useful to provide an update.
Gap Ups & Down In Early Pre-Market:
Gap up: FENC +12%, TUP +8%, SAFM +6%, DDMX +5%, SCVL +4%, NOVN +3%
Gap down: AFCG -10%, MVIS -9%, FOCS -7%, KOS -4%, EXEL -3%, NXGN -3%, SBLK -3%
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Stocks making the biggest moves MVIS GME SAFM BA (CNBC)
5 Things To Know Before Markets Open. (CNBC)
White House is still divided on infrastructure plan and until things change this is our last reporting on this subject. (Reuters)
EU opens investigation into anticompetitive conduct by Google (GOOGL). (EU Release)
European Commission buys an additional 150 million doses from Moderna (MRNA) for Covid-19.
Amazon (AMZN) might have to sell its logistics unit under antitrust concerns. (Bloomberg)
Meat packing industry to face more oversight in U.S. (WSJ)
Robinhood discusses Bitcoin under pressure as China cracks down on the miners. Costco (COST) success due to Kirkland, its private label, and Millennials buying homes.
Index Moving Averages: 6/16 Close – The Confidence Score is at 40%.
The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:15 a.m. EST
The President has lunch with The Vice President, Private Dining Room, 12:30 p.m. EST
Press Briefing by White House COVID-19 Response Team and public health officials, 12:30 p.m. EST
Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EST
The President meets with FEMA Administrator Deanne Criswell and Homeland Security Advisor and Deputy National Security Advisor Dr. Elizabeth Sherwood-Randall, Roosevelt Room, 1:45 p.m. EST.
Federal Reserve Cleveland President Loretta Mester speaks at 10:30 a.m. EDT.
Federal Reserve San Francisco President Mary Daly speaks at 11:00 a.m. EDT.
Federal Reserve Chairman Powell to testify before Congress at 2:00 p.m. EDT.
May Existing Home Sales are due out at 8:30 a.m. EDT and came in last month at 5.85 million and is expected to drop 5.71 million this month.
Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Meetings of Note:
Sellside Conferences: Roth Capital Partners London Conference (6/21-6/23) Raymond James Human Health Innovations Conference (6/21-23) UBS Taiwan Virtual Conference (6/21-23) JP Morgan Energy, Power & Renewables Conference (6/22-6/23) Jefferies Global Consumer Conference (6/22-24) Goldman Sachs Leisure & Transport Conference (6/22-6/23)
Company Meetings: CLNY CNTG NTNX (Investor Day) HPE (Webcast) CSCO APTX (Sellside Sponsored Meeting) AGTC QURE (R&D Day) KGC (Conference Call)
Industry Meetings: International Paris Airshow (6/21-27) Milken Institute Future of Health Summit (6/22-6/23)
Upgrades & Downgrades: