CAPIS Morning Note – 8/24/21: Is The Budget Reconciliation Bill Dead Now As Democrat Senator Sinema To Vote Against Bill? Stock Off Morning Highs

Earnings Out After The Close Beats: PANW +0.16 Flat: None Misses: None Capital Raises:  IPOs Priced or News:  New SPACs launched: RMG Acquisition Corporatio II to merge with ReNew Power to trade under symbol RNW. Secondaries Priced:  None of note. Notes Priced of note:  BKH of note. Common Stock filings: BNL TBH  of note. Selling Shareholders of…

Earnings Out After The Close

Beats: PANW +0.16

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: RMG Acquisition Corporatio II to merge with ReNew Power to trade under symbol RNW.

Secondaries Priced:  None of note.

Notes Priced of note:  BKH of note.

Common Stock filings: BNL TBH  of note.

Selling Shareholders of note: MCW of note.

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

Mixed Shelf Offerings: EVLO of note.

Convertible Offering & Notes Filed: None of note.

Note Offerings Filed: MKTY 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:

Williams Companies (WMB) CFO John Chandler to retire next March.

Southern Companies (SO) CFO Andrew Evans to retire next Wednesday, September 1st.

SEC creates new disclosure requirements for Chinese IPOs. (Reuters)

New Residential Investment (NRZ) buys Caliber Home Loans.

Dividend Increases: EXR  CWH NRZ 

Stock Split:

Higher Guidance:  (After the Close) PANW   (This Morning)

Mixed Guidance: 

Lower Guidance:

Buyback Announcements: BXC MOS 

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

S&P 500 +4 Dow Jones Industrial Average +47 NASDAQ +14  Russell 2000 +4.4.  Fair values are mixed. Asia higher and Europe mixed. VIX is at +19.68 from +20.01 in futures. VIX closed at 17.15 from 18.56 . Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $134.19 from $134.03 with yields at 1.268% from 1.26% yesterday morning. Bitcoin at $49,125 from  $50,440 yesterday morning, trading at $121 or -0.28%.

Monday’s Action – 8/23 Close.  

Positive Sectors On Monday: Energy, Consumer Cyclical and Technology of note.

Negative Sectors On Monday: Utilities and Real Estate 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 higher, Bonds were mixed, U.S. Dollar lower and Commodities higher. Updated 8/23 Close.

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

Today After the Close: INTU, HEI, TOL, JWN, URBN, SCSC of note.

Wednesday Before the Open: RY, ATHM, DKS, KC, DY, PLAB, GOTU of note.

Earnings of Note This Morning:

Beats: BBY +1.09, BMO +0.50, AAP +0.35, BNS +0.10, MDT +0.09

Flat: None

Misses: None

Still to Report: EDU

Insider Purchases:  

Erlanger Research Advance/Decline Chart –Updated through 8/23 close. The Daily A/D Line is in dead cat bounce mode. Will it turn into a true rally?

Gap Ups & Down In Early Pre-Market:

Gap up: CARA +22%, PANW +11%, CWH +7%, BXC +6%, VTRU +5%, NRZ +5%

Gap down: TBPH -27%

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)

5 Things to Know Before The Market Opens. (CNBC)

Overnight Repo comes in at $1.10 trillion.

Covid-19 Data sees 157,450 cases versus 140,144 cases. 79,310 hospitalizations versus 66,428. Deaths 1,120 versus 804. Deaths above 1,000 for second day in a row. NO UPDATE ON TUESDAY AS WEEKEND STATS NOT UPDATED.

CIA Director William Burns met with the head of the Taliban in Kabul yesterday. (The Washington Post)

Senator Kristen Sinema (D-AZ) will not support the Budget Reconciliation Bill so it is basically dead now. (Politico)

NIH Director Dr. Fauci says if people get vaccinated then the pandemic could be under control by Spring of 2022. (CNN)

With the FDA approval of Pfizer (PFE) vaccine expect to see more mandates from military, schools and government offices. (ABC)

House delays $1 trillion bipartisan infrastructure bill that passed the Senate as many want it voted on before the House’s $3.5 trillion budget resolution. (WSJ)

Nine Democrats standing strong against a vote against the budget resolution unless the infrastructure bill is passed first. (The Washington Post)

China tech shares rebound at Ark’s Cathie Wood goes bargain shopping. (Bloomberg)

Head of Apple (AAPL) and Microsoft (MSFT) to visit The White House tomorrow. (Bloomberg)

Robinhood Snaps look at Pfizer (PFE) approval. Prop 22 reversed in California.

Moving Average Update

Score at 90% from 63%.


The President receives the President’s Daily Brief, The White House, 8:00 a.m. EST

The President meets with his national security team to hear intelligence, security, and diplomatic updates on the evolving situation in Afghanistan, Situation Room, 8:30 a.m. EST

The President meets virtually with G7 leaders to discuss continuing our close coordination on Afghanistan policy, humanitarian assistance, and evacuating our citizens, the brave Afghans who stood with us over the last two decades, and other vulnerable Afghans, South Court Auditorium, 9:30 a.m. EST

The President delivers remarks on our ongoing efforts in Afghanistan to evacuate American citizens, SIV applicants and their families, and other vulnerable Afghans, and his meeting with fellow G7 leaders on how our nations can come together in support of the Afghan people, Roosevelt Room, 12:00 p.m. EST

Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EST

Press Briefing by White House COVID-19 Response Team and public health officials, 2:00 p.m. EST

Fed Speakers

None of note scheduled but watch for impromptu appearances.

2 Year Treasury Note Auction at 1:00 p.m. EDT.


July New Home Sales are due out at 10:00 a.m. EDT and is expected to come in at 700,000 from 676,000 in June.

The latest NYSE and NASDAQ Short Interest Data through the 13th of August settlement and on a trade basis from August 11th back to July 28th. During that period, the S&P 500 rose 1.07%.

API Petroleum Data Institute Weekly Inventories are due out at 4:30 p.m. EDT.

M&A Activity:

Meeting & Conferences of Note:

Sellside Conferences: Credit Suisse Agribusiness & Foods Conference (8/23-25) Craig Hallum Online Gaming Conference (8/24) Rosenblatt Inaugural Tech Summit (8/24-26) Guggenheim Fintech & Software Conference (8/24-25) Bank of America Fall Energy Summit (8/24) HSBC Virtual Korea Conference (8/24) UBS III Mexico Consumer Round Table (8/24-26) Seaport Global Industrial Conference (8/24-25) Seaport Global Research Annual Summer Conference (8/24-25) Needham Annual Semicap and EDA Conference (8/24) Raymond James Industrial Conference (8/24-25) BMO Technology Summit (8/24-25)

Company Meetings:  LLNW(Strategy Session)  ETTX (Webinar) KAI SBCF (Conference Call) 

Conferences of Note: SEMICON Asia (8/23-27) NIADA Expo & Conference (8/23-26)

Upgrades & Downgrades: Today recs see 6 upgrades and 1 downgrades. 

day Recommendations Of Note