Breaking News: Dunkin Donuts returns to trading today along with several other IPOs.
Earnings After The Close:
Beats: SJR +0.36, MU +0.17
IPOs Priced or News: Aligos Therapeutics (ALGS) priced at $19 a share. Acumen Pharmaceuticals (ABOS )priced at $16 high end of range of $14 to $16. EverCommerce (XMTR) priced at $17 a share mid range $16 to $18 a share range. Hepsiburada (LZ) priced at $12 a share mid point of $12 to $14 range. Torrid (CURV) priced at $21 a share at high end of range of $18 to $21.
New SPACs launched: Research Alliance Corp (RACA) will begin trading as POINT Biopharma and trading begins today as PNT. Isos Acquisition (ISOS) Bowlero to list on NYSE through merger with Isos.
Secondaries Priced: KYMR O BTRS of note.
Notes Priced of note: None of note.
Common Stock filings: O DBVT CCL of note.
Selling Shareholders of note:SKYW DM HYMC EHTH CMAX of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: HYMC MKGI 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:
Hertz Global (HTZGQ) completes Chapter 11 process.
Wish (WISH) CFO Rajat Bahri to leave as of 7/23.
Lockheed Martin (LMT) wins $1.8 billion Navy contract.
Raytheon Technologies wins $330 million Navy contract.
General Dynamic (GD) wins $300 million Navy contract.
Boeing (BA) names Brian West as CFO.
After The Close Trading: + RIVE +13% LOB +2% and – CVAC -9% SKIL -2%.
Dividend Increases: GBC EGBN
Higher Guidance: MU
Buyback Announcements: STM
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +8 Dow Jones Industrial Average +107 NASDAQ +1 Russell 2000 +15.45. Fair values are mixed. Asia lower and Europe mixed. VIX is at 17.69 from 17.77 in futures. VIX closed at 15.83 from 16.02.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132.30 from $132.44 with the yield at 1.48% from 1.46%. Bitcoin is at $33,552.10 from $34,700 yesterday and lower by $1219.34 and -3.51%.
Wednesday’s Action – 6/30 Close.
Positive Sectors On Wednesday: Energy, Industrials and Consumer Defensive.
Negative Sectors On Wednesday: Real Estate, Technology and Consumer Defensive 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 ex NASDAQ indexes, Bonds higher, U.S. Dollar dollar higher and Commodities higher ex Oil. Updated 6/30 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: none of note.
Friday Before the Open: none of note.
Earnings This Morning Of Note:
Beats: AYI +0.49, WBA +0.36, LNN +0.31, SMPL +0.15, MKC +0.07
Still to Report: none
Insider Purchases: None of note this morning.
Below is the list of insider buys from this morning and is sorted by Erlanger Volume Swing (EVS). The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”.Several names with excess short selling and only TREC has smart short sellers while LMST EXLS VAPO have dumb short sellers. Several have no history but short selling is elevated in WPF AGAN.Updated 6/30
Erlanger Research Advance/Decline Chart –Updated through 6/30 close.
Gap Ups & Down In Early Pre-Market:
Gap up:SPRO +23%, ORTX +14%, MESO +9%, FC +8, RIVE +5%, JAZZ +4%, XPEV +3%
Gap down: CVAC -12, ARQT -6%, MU -3%
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
House Democrats continue to play Lucy and move changes to bipartisan infrastructure deal as they pass surface transportation and water infrastructure bills today. (Bloomberg)