Overnight Summary: The S&P 500 closed Friday higher by 1.11% at 5459.10 from Thursday lower by -0.51% at 5399.22. The overnight high was hit at 5,530 at 8:55 a.m. EDT and the low was hit at 5496.25 at 6:00 p.m. EDT. The overnight range is 34 points. The current price is 5518 at 6:15 a.m. EDT higher by +19.50 points.
- 3 and 6 month T-Bill Auction at 11:30 a.m. EDT.
Earnings Out After The Close:
- Beats: None of note.
- Flat: None of note.
- Misses: None of note.
- Yet to Report:
Capital Raises:
- IPOs For The Week: ACTU AZI BLMZ FLAI NIPG PMAX ORKT PGHL OS CON LINE
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced:
- Secondaries Filed or Priced:
- LWLG files for $100 mln common stock offering.
- ENTO Form S-3.. 3,525,348 Shares of Common Stock
- LWLG Form S-3.. $100,000,000 of Common Stock
- MULN Form S-1.. 85,000,000 Shares of Common Stock
- PHIO Form S-1.. Up to 1,131,468 Shares of Common Stock
- TGL FORM S-1 – Up to 1,063,830 Shares of Common Stock
- Notes Priced:
- Direct Offering:
- Exchangeable Subordinate Voting Shares:
- Selling Shareholders of note:
- NASDAQ announced a secondary public offering of 41,604,207 shares of its common stock currently held by Argus Seller, LP.
- Debt/Credit Filing and Notes:
- Mixed Shelf Offerings:
- REKR files $350 mln mixed shelf securities offering.
- NYMT files $300 mln mixed shelf securities offering.
- CTSO files a $150 million mixed shelf offering.
- PIPE:
- Convertible Offering & Notes Filed:
- Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
Biggest Movers Up & Down Last Week:
- Movers Up: CYH (5.11 +35.41%), FATE (5.49 +28.45%), EBS (13.99 +24.91%), FIXX (36.49 +23.86%), NVAX (17.11 +23.54%), KNSA (26.04 +22.66%), MMM (127.19 +22.39%), SERV (13.89 +83.95%), NWL (8.89 +38.69%), MHK (161.67 +25.29%), IRBT (12.67 +23.73%), EVRI (12.85 +54.82%), GSHD (88.52 +40.4%), NBR (101.9 +24.14%)
- Movers Down: DXCM (64.54 -42.2%), EW (62.36 -27.91%), BHC (5.99 -21.18%), INSP (125.63 -12.6%), ALGN (220.58 -12.33%), KALU (77.52 -16.59%), SAIA (399.65 -17.63%), HA (12.2 -12.23%), F (11.23 -19.67%), LIND (9.13 -14.19%), BJRI (31.36 -13.51%), MXL (12.67 -47.07%), STM (33.9 -15.1%), TER (126.26 -13.77%), LW (56.35 -27.27%)
News After The Close :
- PBR makes offer to buy major stake in Galp Energia’s oil offshore discovery in Namibia. (Reuters)
- RTX awarded a $325 mln ceiling increase modification to previously awarded US Air Force contract.
- LDOS awarded a $191 mln US Army contract for software sustainment services.
- Barron’s + on SIRI CHTR WBD NVO AZN ING AIN B AMN OMI MODG COHU CARR KVUE KTB OGN PHIN SLVM GOOGL
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:
- IQ Wenfeng Liu has resigned as CTO due to personal reasons, effective immediately.
- ADMA promotes Brad Tade to CFO and Treasurer.
Dividends Announcements or News:
- Stocks Ex Div Today: ASML BX WBS BCO PSEC WMK SLP VALU
- Stocks Ex Div Tomorrow: DAL CE RDY
What’s Happening This Morning: Futures S&P 500 +24, NASDAQ 100 +202, Dow Jones +172, Russell 2000 +20.53, Asia is higher and Europe is higher ex France this morning. VIX Futures are at 15,93 from 16.56 on Friday while Bonds are at 41.152% from 4.23% unchanged on the 10-Year. Crude Oil and Brent are lower with Natural Gas lower as well for a second trading day. Gold higher, Silver higher and Copper lower. The U.S. Dollar is higher versus the Euro, higher versus the Pound and higher against the Yen. Bitcoin is at $69,469 from $67,233 higher by +1.90% this morning.
- Daily Positive Sectors: Real Estate, Industrials, Materials and Financials of note.
- Daily Negative Sectors: None of note.
- One Month Winners: Real Estate, Financials, Industrials,
Energy, Utilities andConsumer Cyclicalof note. - Three Month Winners: Technology, Real Estate, Financials, Healthcare, Utilities and Communication Services of note.
- Six Month Winners: Utilities, Technology,
Communication Services, Financials, Industrials andEnergyof note. - Twelve Month Winners: Technology, Communication Services, Financials, Industrials, Healthcare and Energy of note.
- Year to Date Winners: Technology, Communication Services, Financials, Industrials, Utilities and Healthcare,
Consumer Defensiveof note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Monday After the Close:
- Tuesday Before The Open:
Earnings of Note This Morning:
- Beats: RVTY +0.10, AMG +0.07, ON +0.04, OIS +0.03, IART +0.01, of note.
- Flat: None of note.
- Misses: MCD -0.10, CTRI -0.03 of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative Guidance: IART CTRI of note.
Erlanger Research Advance/Decline Chart: A/D lines improved on Friday.
Gap Ups & Down In Early Pre-Market (+4% or down more than -4%):
- Gap Up: LGVN +27.9%, NAMS +14.4%, AVXL +11.1%, PHG +10%, PBI +9.6%, GH +9.1%, RVTY +6.8%, AZN +2% of note.
- Gap Down: IART -9.4%, NOG -5.2%, PR -3.3%, LWLG -2.7%, MGM -2% of note.
Insider Action: No names see Insider buying with dumb short selling. No names see 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.
- Bloomberg Lead Story: Traders Fret as 32 Hour Central Bank Spree Hangs Over Market. (Bloomberg)
- 5 Things You Need To Know To Start Your Day. (CNBC)
- Stocks Making The Biggest Moves Pre-Market – MCD TSLA COIN MSTR DIS (CNBC)
- Markets Wrap: Stocks rally ahead of big week for rates and earnings. (Bloomberg)
- Venezuela’s election in dispute despite Maduro’s claims of victory. (Bloomberg)
- Former President Trump spoke at a Bitcoin Conference and made a big promise. (Barron’s)
- McDonald’s (MCD) Sales fall for the first time since the Pandemic. (Bloomberg)
- Disney’s (DIS) “Deadpool and Wolverine” opens with $205 million in sales. (CNBC)
Economic:
- None of note.
Geopolitical:
- The President receives the Daily Briefing today at 11:00 a.m. EDT.
- President Biden heads to Austin, Texas to deliver a speech at the University of Texas LBJ Presidential Library at 4:30 p.m. EDT.
- President Biden then heads to Houston to pay respects to Congress Sheila Jackson Lee at 8:30 p.m. EDT.
Federal Reserve Speakers
- Federal Reserve speakers are now in blackout mode until Wednesday after the FOMC Announcement.
M&A Activity and News:
- None of note.
Moving Averages On Major Indexes: Moves from 47% to 67% of the moving averages being positive.
Meeting & Conferences of Note:
-
- Sellside Conferences:
- KBW Community Bank Investor Conference
- Fireside Chat: None of note.
- Top Shareholder Meetings: BIVI, CION, CVKD, GNLN, VRPX of note.
- Investor/Analyst Day/Calls: ARQT, DMAC of note.
- Sellside Conferences:
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event:
- Industry Meetings or Events: Note that Former President Trump will speak on Saturday at the Bitcoin Conference throwing his support behind Bitcoin.
- Alzheimer’s Association International Conference
- Psychedelic Medicine Israel Conference
- 2024 Olympics
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.
- Upgrade:
- Downgrade:
