Capital Raises: 

IPOs Priced or News: Duolingo (DUOL) prices 5.1 million share IPO at $102 above range of $85 to $95. PowerSchool (PWSC) priced at $18 at low end of range of $18 to $20.

New SPACs launched: None of note.

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: NEP INVZ  of note.

Selling Shareholders of note: INVZ of note.

Private Placement of Public Entity (PIPE): None of note.

Mixed Shelf Offerings: MMC AXTI NEP SHOP 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:

Apple (AAPL) beats on on product categories and gross margins.

White House looks at vaccine mandates for all federal workers.  (NYT)

Adds to S&P 400 GXO VSCO GME.

Adds to S&P 600 STRA INT LKFN.

Credit Suisse (CS) to publish investigation into what led to the losses at Archegos Capital Mgmt. (WSJ)

Dividend Increases: CTAS HIW WFC TFC  ASB VBTX ALEX 

Stock Split:

Higher Guidance: MANH SBUX AMD 

Mixed Guidance:

Lower Guidance:

Buyback Announcements:

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

S&P 500 +5 Dow Jones Industrial Average +18 NASDAQ +61 Russell 2000 +13.  Fair values are mixed. Asia mixed and Europe higher. VIX is at 20.65 from +20.70 in futures. VIX closed at $19.36 from $17.20 . Gold lower with silver higher and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $134.34 from $134.38 with yields at 1.268% from 1.249% on Tuesday. Bitcoin at $40535 from $37,999.20 yesterday up$2446 or 6.44%.

Tuesday’s Action – 7/27 Close.  

Positive Sectors On Tuesday: Utilities, Real Estate and Consumer Defensive of note.

Negative Sectors On Tuesday: Consumer Cyclical, Communication Services and Technology of note.

One Month Winners: Technology, Consumer Cyclical and Materials of note.

Three Month Winners: Energy, Real Estate and Healthcare of note.

Six Month Winners: Real Estate, Communication Services, Energy and Financials of note.

Twelve Month Winners: Materials, Communication Services, Industrials, Financials and Energy of note.

Year to Date: Energy, Communication Services, Financials, Real Estate and Industrials of note.

Stocks were lower, Bonds higher, U.S. Dollar lower and Commodities lower ex gold.Updated 7/27 Close.

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

Erlanger Research Advance/Decline Chart –Updated through 7/27 close. 

Gap Ups & Down In Early Pre-Market:

Gap up: WIRE +18%, LKFN +10%, MAT +8%, SIX +7%, PFG +6%, AXTI +4%, STRA +4%, ZEPP +4%, STRA +4%, BCS +4%, MTDR +4%, TENB +4%, EHC +4%, INT +4%, BYD +3%

Gap down: CSGP -6%, CAKE -5%, JNPR -5%, MASI -5%, HUM -5%, LBRT -4%, SBUX -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 (CNBC)

Covid Stats:Cases 64,317 versus 39,719 a week ago. 24,257 current hospitalizations versus 16,974 a week ago. (CDC)

CDC Director  on Good Morning America  discussed mask guidance was changed due to rare breakthrough infections.

California considers a new mask mandate after CDC mask update. (Los Angeles Times)

Several states announce they will not follow new mask mandate Florida, Texas, Iowa and Nebraska. (Fox News)

Nevada to reinstate mask mandate and Las Vegas tourists begin to cancel plans. (The Washington Post)

Most private companies are not mandating a vaccine for workers yet. (WSJ)

TAL Education (TAL) share higher for second day as believes it will survive China regulatory crackdown.

Robinhood looks at Apple (AAPL) results. Philip Morris (PM) may take cigarettes “smoke free”.

Index Moving Averages: 7/26 Close – The Confidence Score moves to 91% from 88%.  

Geopolitical:

9:30 AM Official Schedule	The President receives the President’s Daily Brief Closed Press
9:45 AM Pool Call Time	Out-of-Town Pool Call Time Out-of-Town Pool
10:15 AM Pool Call Time	In-Town Pool Call Time In-Town Pool
10:55 AM Official Schedule	The President departs the White House en route Joint Base Andrews South Lawn Open Press
11:15 AM Official Schedule	The President departs Joint Base Andrews en route Allentown, Pennsylvania Joint Base Andrews Out-of-Town Travel Pool Coverage
12:00 PM Official Schedule	The President arrives in Allentown, Pennsylvania Open Press
1:25 PM Official Schedule	The President visits Mack – Lehigh Valley Operations Manufacturing Facility Out-of-Town Travel Pool Coverage
2:00 PM Official Schedule	The President delivers remarks on the importance of American manufacturing, buying products made in America, and supporting good-paying jobs for American workers Open Press
3:20 PM Official Schedule	The President departs Allentown, Pennsylvania en route Joint Base Andrews Open Press
4:05 PM Official Schedule	The President arrives at Joint Base Andrews Joint Base Andrews Out-of-Town Travel Pool Coverage
4:25 PM Official Schedule	The President returns to the White House South Lawn Principal Deputy Press Secretary Karine Jean-Pierre will gaggle aboard Air Force One en route Lower Macungie Township, Pennsylvania

Fed Speakers

None of note today as FOMC meeting.

Economic:

Weekly MBA Mortgage Applications rose +5.7% for the week.

The Federal Reserve Open Market Committee (FOMC) concludes a two day meeting.

M&A Activity:

Avery Dennison (AVY) to buy Vestcom for $1.45 billion in cash.

Meetings of Note:

Sellside Conferences: None of note

Company Meetings: CVBF (Conference Call) FICO (Corporate Event) RXDX (R&D Day)

Industry Meetings: Alzheimer’s Association International Conference (7/26-30) Green Energy and Precious Metals Investor Conference (7/27-29) Gamma Delta T Cell Summit (7/27-29)

Upgrades & Downgrades: Today recs see 18 upgrades and 2 downgrades. 

Tuesday Recs