Overnight Summary: The S&P 500 closed Monday higher by 0.28% at 5631.22 from Friday higher by 0.55% at 5615.35. The overnight high was hit at 5,694.75 at 6:05 p.m. EDT and the low was hit at 5673 at 4:10 a.m. EDT. The overnight range is 21 points. The current price is 5691.25 at 7:15 a.m. EDT higher by +8.25 points.
- June Retail Sales is due out at 8:30 a.m. EDT and last month came in at 0.1% and is expected to drop to -0.1%.
- July NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to rise to 44 from 43.
- Beats: None of note.
- Flat: None of note.
- Misses: None of note.
- Yet to Report:
Capital Raises:
- IPOs For The Week:
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced:
- Secondaries Filed or Priced:
- DJT discloses prospectus for resale of 37,969,380 shares of common stock.
- THAR: FORM S-3 – 1,009,102 Shares of Common Stock.
- TPET: Form S-1.. UP TO 35,460,993 SHARES OF COMMON STOCK
- Notes Priced:
- Direct Offering:
- Exchangeable Subordinate Voting Shares:
- Selling Shareholders of note:
- Debt/Credit Filing and Notes:
- Mixed Shelf Offerings:
- NVST files mixed shelf securities offering
- GROY files for $250 mln mixed securities shelf offering
- PIPE:
- Convertible Offering & Notes Filed:
- OSIS Proposed Convertible Senior Notes Offering
- Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
Biggest Movers Up & Down After The Close:
- Movers Up: KYTX +9.1%, ACEL +3.1%, MDWD +2.2%
- Movers Down: DJT -9.8%, CFB -4.5%.
News After The Close :
-
- Walt Disney (DIS) inching lower after internal communications leaked online after hack.
- Senator J.D. Vance (R- OH) named Vice President Nominee to Former President Donald J. Trump.
Buybacks or Repurchases: Buybacks should be slow as most companies are in a blackout period as earnings season kicks into gear.
- None of note.
Exchange/Listing/Company Reorg and Personnel News:
- NVST names Eric Hammes as CFO, effective August 8
Dividends Announcements or News:
- Stocks Ex Div Today: ESO ALG
- Stocks Ex Div Tomorrow: EOG FMX KWR VSEC
- SJM increases its quarterly dividend by 1.9% to $1.08/share; 3.8% annual yield.
What’s Happening This Morning: Futures S&P 500+8 NASDAQ 100 +44.50, Dow Jones +16, Russell 2000 +28.88. Asia is higher ex Japan and Europe is lower this morning. VIX Futures are at 14.30 from 13.92 yesterday while Bonds at 4.173% from 4.226% on the 10-Year. Crude Oil and Brent are lower with Natural Gas lower as well for a second day in a row. Gold and Silver are higher with Copper lower. The U.S. Dollar is lower versus the Euro, higher versus the Pound and higher against the Yen. Bitcoin is at $63,709 from $62,355 higher by +0.03% this morning.
- Daily Positive Sectors: Financials, Energy, Industrials, Real Estate and Communication Services of note.
- Daily Negative Sectors: Utilities, Consumer Defensive, Consumer Cyclical, Materials and Healthcare of note.
- One Month Winners: Technology, Communication Services, Real Estate, Consumer Cyclical and Financials of note.
- Three Month Winners: Technology, Utilities, Communication Services, Real Estate, Healthcare, Financials and Consumer Defensive of note.
- Six Month Winners: Technology, Communication Services, Financials and Industrials of note.
- Twelve Month Winners: Technology, Communication Services, Financials, Healthcare, Industrials, and Consumer Cyclical of note.
- Year to Date Winners: Technology, Communication Services, Financials, Utilities and Healthcare of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Tuesday After the Close:
- Wednesday Before The Open:
Earnings of Note This Morning:
- Beats: PNC +0.40, MS +0.17, UNH +0.14, ANGO +0.12, BAC +0.03, SCHW +0.01 of note.
- Flat: None of note.
- Misses: None of note.
- Still to Report: STT of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative Guidance: None of note.
Erlanger Research Advance/Decline Chart: Huge improvement for NASDAQ and the NYSE.
Gap Ups & Down In Early Pre-Market (+4% or down more than -4%):
- Gap Up: KYTX +7.5%, MTCH +7.4%, ZLAB +6.4%, NVX +3.9%, BLCO +2.3%, ACEL +2% of note.
- Gap Down: DJT -8.2%, CFB -5.2%, FNKO -3.5%, RIO -3%, RGEN -2.6%, UNH -2.6% of note.
Insider Action: DAL sees Insider buying with dumb short selling. NE sees Insider buying with smart short sellers.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- 5 Things To Know Before The Stock Market Opens Today. (CNBC)
- Stocks making the biggest moves pre-market: MS UNH BAC SHOP (CNBC)
- Bloomberg Lead Story: Trump Makes Grand Entrance With Bandaged Ear. (Bloomberg)
- Markets Wrap: Treasury yields drop with retail sales due out. (Bloomberg)
- Barron’s – Prime Day is here for Amazon (AMZN). (Barron’s)
- Morgan Stanley (MS) beats as traders drive revenues but wealth management lags. (Bloomberg)
- Bank of America (BAC) beats on better than expected investment banking revenues. (CNBC)
- Bloomberg: The Big Take: Xi Jinping Great Economic Rewiring is Cushioning China’s Slowdown. (Podcast)
- Bloomberg Business Week: David Rubenstein Talk with Fed Chairman Powell yesterday at the Washington Economic Club. (Podcast)
Economic:
- June Retail Sales is due out at 8:30 a.m. EDT and last month came in at 0.1% and is expected to drop to -0.1%.
- July NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to rise to 44 from 43.
- Weekly API Crude Oil Inventories are due out at 4:30 p.m. EDT.
Geopolitical:
- The President receives the Daily Briefing at 1:00 p.m. EDT. President Biden is in Las Vegas, Nevada.
- BET’s Ed Gordon interviews President Biden at 3:00 p.m. EDT.
- President Biden delivers remarks to the NAACP National Convention at 4:00 p.m. EDT.
- President Biden participates in an economic summit with Rep. Steven Horsford (D-NV).
Federal Reserve Speakers
- Federal Reserve Governor Adrianna Kugler speaks at 2:45 p.m. EDT.
M&A Activity and News:
Moving Averages On Major Indexes: Moves from 94% to 97% of the moving averages are now positive.
Meeting & Conferences of Note:
- Sellside Conferences:
- JonesHealthcare Seaside Summit
- Fireside Chat: None of note.
- Top Shareholder Meetings: AA, ADSK, AREC, HYW, MLSS, STLY, UEC, ULBI
- Investor/Analyst Day/Calls: ARGX, ARWR, SCHW, SGH, SMG
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event:
- Industry Meetings:
- Republican National Convention
- International Herpesvirus Workshop
- Institute of Food Technologists (IFT) Event and Expo
Top Tier Sell-side Upgrades & Downgrades:
The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.
