CAPIS Morning Note – 6/3/21: Stocks Dropping Despite Good Jobs Data

Breaking News: Jobless Claims broke below 400,000 to 385,000. Earnings Of Note After The Close: Beats: PVH +1.09, SPWH +0.37, ESTC +0.08, GWRE +0.08, SMAR +0.05, NTAP +0.05, DSGX +0.04, AI +0.03, SPTN +0.02, SMTC +0.01, NCNO +0.01 Flat:  None Misses: SPLK (0.21), PAGS (0.19) Capital Raises:  IPOs Priced or News: dLocal (DLO) priced at…

Breaking News: Jobless Claims broke below 400,000 to 385,000.

Earnings Of Note After The Close:

Beats: PVH +1.09, SPWH +0.37, ESTC +0.08, GWRE +0.08, SMAR +0.05, NTAP +0.05, DSGX +0.04, AI +0.03, SPTN +0.02, SMTC +0.01, NCNO +0.01

Flat:  None

Misses: SPLK (0.21), PAGS (0.19)

Capital Raises: 

IPOs Priced or News: dLocal (DLO) priced at $21 a share above range of $16 to $18.

New SPACs launched: 

Secondaries Priced: CMBM SYNH HHR CWK WPRT of note.

Notes Priced of note:  None of note.

Common Stock filings: ACGL BILL PINE SJ   0f note.

Selling Shareholders of note: CWK HHR  of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings:  AMSC FLEX 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:

FireEye (FEYE) to sell FireEye Products to Symphony Technology Group for $1.2 billion.

Exxon Mobil (XOM) updates election for director results.

NASDAQ (NDAQ) saw Equity Options volume in May 247 million down from 249 million in April but up from a year ago 181 million.

Lockheed Martin (LMT) selected by NASA to build the VERITAS and DAVINCI+ spacecraft for its Discovery Program.

Fed to sell $13.7 billion of corporate bonds by year end. (WSJ)

Tesla (TSLA) recalls 6,000 cars for loose brake bolt.

After Hours:  ESTC +9% WVE +7% PAGS +6%  SMAR +3%  and AI -10% PINE -7% FEYE -5% SPLK -3%.

Dividend Increases: CLX

Guides Higher & Lower Of Note:  yesterday and  this morning.

Mixed Guidance:

Lower Guidance:

Buyback Announcements: FEYE SEIC

What’s Happening This Morning: Futures value reflects the change with fair value.

S&P 500 -27 Dow Jones Industrial Average -175 NASDAQ -135 Russell 2000 -20 .  Fair values are lower today. Asia mixed and Europe lower. VIX is at 19.82 from 19.38 in futures. VIX closed at 17.48 from 17.90.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $131.89 from $131.86  with the yield at 1.593% from  1.606%.  Bitcoin $37,289 from $36204 yesterday morning up $1353.43 and +3.76%.

Wednesday’s Action – 6/2.  Equity indexes were higher into the weekend.

Positive Sectors On Wednesday: Energy, Consumer Defensive and Real Estate of note.

Negative Sectors On Wednesday: Materials, Industrials and Communication Services of note.

One Month Winners: Energy, Financials, Materials and Industrials  of note.

Three Month Winners: Energy, Materials, Industrials and Financials of note.

Six Month Winners: Energy, Financials, Materials and Industrials of note.

Twelve Month Winners: Materials, Industrials, Financials and Consumer Cyclicals of note.

Year to Date: Energy, Communication Services, Financials and Materials of note.

Stocks were higher, Bonds higher, U.S. Dollar flat and Commodities higher ex natural gas.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: AVGO, CRWD, LULU, DOCU, WORK, COO, MDB, PHR, SUMO, ZUMZ of note.

Friday Before the Open: None of note.

Earnings This Morning Of Note:

Beats: CONN +1.21, DOOO +1.21, SJM +0.23, CIEN +0.14, SCWX +0.09

Flat:  none

Misses: none

Still to Report: TTC

Insider Purchases:

Below is the list of insider buys from  Wednesday 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 BKI DLTR SFT LIND CDLX.  Updated 6/2

Erlanger Research Advance/Decline Chart/Table –Updated through 6/2.

Gap Ups & Down In Early Pre-Market:

Gap up: ESTC +12%, CONN +10%, WVE +8%, EBF +7%, SMTC +6%, SGEN +5%, ALPN +4%

Gap down: AI -9%, PINE -6%, FEYE -6%, SJ -4%, CWK -4%, SPLK -4%

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 AMC FEYE BB EXPR   (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Biden Administration to expand companies that will receive penalties for dealing with China. (Bloomberg)

Meme stocks like AMC losses from short selling hit $4.5 billion. (Bloomberg)

AMC Entertainment (AMC) to sell stock. (CNBC)

Robinhood looks at JBS hack and AMC Entertainment (AMC) price rise.

Index Moving Averages: 6/1 Close – The Confidence Score is at 100%.


Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 11:00 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EST

Federal Reserve Speakers:

Federal Reserve Atlanta President Bostic to speak at 12:30 p.m. EDT.

Federal Reserve Philadelphia President Harker to speak at 1:50 p.m. EDT.

Federal Reserve Governor Quarles to speak at 3:05 p.m. EDT.


Weekly MBA Mortgage Applications were out at 7:00 a.m. EDT yesterday and fell -4.0%.

Weekly API Petroleum Report was out at 4:30 p.m. EDT yesterday and Crude Oil fell -5.4 million barrels and while Gasoline rose 2.5 million barrels.

April ADP Employment Report is due out at 8:15 a.m. EDT and is expected to rise to 675,000 from 742,000. Came in at 978,000.

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

May ISM Non-Manufacturing Index is due out at 10:00 a.m. as well and is expected to rise to 63% from 62.7 0%.

M&A Activity

Meetings of Note:

Sellside Conferences:  Cowen Annual Technology, Media and Telecom Conference  (6/1-3) Jefferies Global Health Conference (6/1-4) William Blair Annual Growth Conference (6/1-6/3) Bank of America Emerging Markets Debt & Equity Conference (6/1-4) Wells Fargo Energy Conference (6/2-3) Bernstein Annual Strategic Decisions Conference (6/2-4) Credit Suisse Chemicals & Agriculture, Packaging & Cement Conference (6/2-3) BMO Energy Conference (6/2-3) Piper Sandler Annual Consumer Marketplace Conference (6/3-4) Bank of America Global Healthcare Conference (6/3) Citi Consumer Access Conference (6/3-4)

Company Meetings: ANIK PEGA CLS (Investor Meetings) ALB  COST (Conference Call)  TSK  (Webcast)

Industry Meetings:

Upgrades & Downgrades:

Wednesday Recommendations