Overnight Summary: The S&P 500 closed Friday higher by 1.15% at 5634.61 from Thursday lower by -0.89% at 5570.64. The overnight high was hit at 5,664.505 at 4:15 a.m. EDT and the low was hit at 5640 at 7:00 p.m. EDT. The overnight range is 24 points. The current price is 5654.25 at 6:40 a.m. EDT higher by +1.75 points.
Important Read of the Morning:
Executive Summary: A quiet week ahead, kind of. All eyes are focused on Nvidia’s (NVDA) earnings which are due out on Wednesday after the close.
- 3 & 6-Month Bill Auction at 11:30 a.m. EDT.
Earnings Out After The Close:
- Beats: None of note.
- Flat:
- Misses: None of note.
Capital Raises:
- IPOs For The Week: CUPR, GLXG, JBDI, PMAX, TDTH
- New IPOs/SPACs launched/News:
- IPOs Filed/Priced:
- Secondaries Filed or Priced:
- GH to offer up to $400 mln of common stock offering
- TRIN to offer up to $250 mln of common stock offering
- AWH: FORM S-3 – Up to 2,566,667 Shares of Common Stock
- BIOR: Form S-3.. 96,661,836 Shares of Common Stock
- MPU: FORM S-3 – Up to 2,079,545 Shares of Common Stock
- MRM: Form F-1.. Ordinary Shares Offering
- WINT: FORM S-1 – Up to 10,679,758 Shares of Common Stock
- Notes Priced:
- Direct Offering:
- Exchangeable Subordinate Voting Shares:
- Selling Shareholders of note:
- RLJ files for 2,157,580 shares of common stock offering by selling shareholders
- DJT files for 5,102,002 share common stock offering by selling shareholders
- TKNO files for 12,385,883 share common stock offering by selling shareholders
- STXS files for 6.1 mln share common stock offering by selling shareholder
- STBX: FORM F-3 – 152,000,000 Class A Ordinary Shares Offered by Selling Shareholders
- CMMB: FORM F-3 – 8,097,167 ADSs Offered by the Selling Shareholders
- Debt/Credit Filing and Notes:
- Mixed Shelf Offerings:
- RLJ files mixed shelf securities offering
- GXO files mixed shelf securities offering
- ARQ files for $100 mln mixed securities 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 For The Week:
- Movers Up: GRFS (8.58 +21.46%), EVH (33.11 +20.93%), SIBN (16.47 +18.71%), IRWD (5.01 +15.86%), SGRY (33.47 +15.33%), RCUS (17.97 +15.19%) LIND (10.31 +40.65%), ROKU (69.35 +18.39%), LB (41.98 +17.15%) GDS (16.79 +38.19%), AAOI (9.6 +15.94%), FN (267.8 +15.89%)
- Movers Down: STAA (33.28 -12.21%), CGC (6.22 -11.72%), EBS (9.51 -11.46%), SIGA (9.59 -8.63%), GFI (14.52 -13.26%), AAP (48.96 -21.28%), M (16.02 -9.52%), RRGB (4.39 -9.4%), SERV (10.19 -8.69%), JD (26.77 -8.62%), PAGS (11.64 -17.89%), CSIQ (13.28 -9.97%), GTE (7.7 -11.09%), LANC (172.54 -13.03%), HE (11.66 -12.79%)
News After The Close :
-
- NOC awarded a $200.25 mln US Air Force contract
- Austria credit outlook revised to Positive on improving energy supply position.
- NSC reaches tentative collective agreements with four labor unions
- INTC ticks higher after hours on report it has hired advisors to help defend itself against activist investors. (CNBC)
- Barron’s + on GM IAC HON JCI ITW EMR CHRW CAT AOS and +/- on UBER GM TSLA.
- 10-Q Delays none of note.
Buybacks or Repurchases: Buybacks should be slow as most companies are in a blackout period as earnings season kicks into gear.
Exchange/Listing/Company Reorg and Personnel News:
- MXL eliminates the position of General Counsel and Chief Compliance Officer to cut costs
Dividends Announcements or News:
- Stocks Ex Div Today: MMM LYB CDW TSCO ATO MUSA PAYC MKSI CIG PHI RDN
- Stocks Ex Div Tomorrow: JNJ SPGI SBLK YUM KEY YUMC H ADEA CRS WMG SPB JFIN NDSN CABO VOYA CRI CRAI
What’s Happening This Morning: Futures S&P 500 +2 NASDAQ 100 -32 Dow Jones +25 Russell 2000 +20. Asia is lower ex Australia while Europe is higher ex Germany this morning. VIX Futures are at 15.75 from 16.60 Friday while Bonds are at 3.807% from 3.844% on the 10-Year. Crude Oil and Brent higher with Natural Gas lower for a second morning in a row. Gold, Silver and Copper higher. The U.S. Dollar is higher versus the Euro, higher versus the Pound and lower against the Yen. Bitcoin is at $63,886 from $60,815 lower by -0.51% this morning.
- Daily Positive Sectors: Real Estate, Technology, Consumer Cyclical and Materials of note.
- Daily Negative Sectors: None of note.
- One Month Winners: Real Estate, Utilities, Consumer Defensive, Technology and Healthcare of note.
- Three Month Winners: Technology, Real Estate, Healthcare,
Consumer Defensive, Financials and Utilities of note. - Six Month Winners: Utilities, Technology, Communication Services, Financials, Real Estate and Consumer Defensive of note.
- Twelve Month Winners: Technology, Communication Services, Financials, Industrials, Utilities, and Healthcare note.
- Year to Date Winners: Technology, Communication Services, Utilities, Financials, Consumer Defensive and Healthcare of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Monday After the Close: HEI of note.
- Tuesday Before The Open:
Earnings of Note This Morning:
- Beats: PDD +2.81 of note.
- Flat:
- Misses: None of note.
- Still to Report:
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Weekly Update With Both Daily and Weekly Stats: Some deterioration yesterday.
Gap Ups & Down In Early Pre-Market (+2% or down more than -2%):
- Gap Up: XPEV +5%
- Gap Down: PDD -9.3%, ARQ -2.1%, DY -2.1%
Insider Action: MYRG GT MRC see Insider buying with dumb short selling. None of note 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: Mideast on Edge as Israel Bombs Lebanon. (Bloomberg)
- What You Need To Know To Start Your Day. (Bloomberg)
- Pre-Market Movers PDD BA PLNT BJ PBR (CNBC)
- Markets Wrap: US Futures waver as traders consider rate path. (Bloomberg)
- Department of Energy buys 2.5 million barrels for the Strategic Petroleum Reserve.
- NASA switched to SpaceX from Boeing (BA) to return the astronauts from the Space Station in February.
- Telegram CEO detained in France as free speech issues on trial for tech stocks. (Bloomberg)
- Odd Lots: Being a Fed President at Jackson Hole. (Podcast)
- Marketplace: X’s AI image generator. (Podcast)
- NY Times Daily: Trump vs Harris on the Economy. (Podcast)
- Wealthion: Weekly Recap. (Podcast)
Economic:
- Durable Goods Orders are due out at 8:30 a.m. EDT.
- Federal Reserve Dallas Federal Reserve Manufacturing Survey is due out at 10:30 a.m. EDT.
Geopolitical:
- President Biden is on vacation in Delaware.
Federal Reserve Speakers
- No Fed speakers of note today.
M&A Activity and News:
- None of note.
Moving Averages On Major Indexes: Moves from 100% to 80%of the moving averages being positive.
Meeting & Conferences of Note:
-
- Sellside Conferences:
- Benchmark Fireside Chat Management Discussion Series
- Stephens Non-Deal Roadshow
- Fireside Chat: None of note.
- Top Shareholder Meetings: AULT, HLF, NXL, SAR
- Investor/Analyst Day/Calls: CNSP, PGNT
- Sellside Conferences:
- Update: None of note.
- R&D Day: None of note.
- FDA Presentation:
- Company Event:
- Industry Meetings or Events:
- e-Fuels Summit
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.
Upgrades: XEL OLLI
Downgrades: TCPC CCU
