CAPIS Morning Note – 9/1/21: Stocks Higher Despite ADP Payroll Miss

Breaking News: ADP Payroll comes in with a big miss at 374,00 short of 600,000 estimate. Notable Short Squeeze Chart of the Week: Draft Kings (DKNG) has seen shorts pressing bets since March. They may be forced to cover sooner than later. Earnings Out After The Close Beats: PVH +1.52, CAL +0.65, AMBA +0.10, PLAN…

Breaking News: ADP Payroll comes in with a big miss at 374,00 short of 600,000 estimate.

Notable Short Squeeze Chart of the Week: Draft Kings (DKNG) has seen shorts pressing bets since March. They may be forced to cover sooner than later.

Earnings Out After The Close

Beats: PVH +1.52, CAL +0.65, AMBA +0.10, PLAN +0.04, CRWD +0.02

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: None of note.

New SPACs launched:

Secondaries Priced:  None of note.

Notes Priced of note:   None of note.

Common Stock filings:  ASND ATNF GB RY of note.

Selling Shareholders of note: PLBY RIOT UXIN of note.

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

Mixed Shelf Offerings:  GXO RY 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:

FDA approves Updated Indication for Merck’s (MRK) KEYTRUDA® (pembrolizumab) for treatment of certain patients with Urothelial Carcinoma (Bladder Cancer).

L3Harris (LHX) wins $950  million Air Force contract.

Tesla (TSLA) has seen a decline of 11% globally for self driving package as increased.

After Hours: + PLAN +14% PVH +7% CAL +6% AMBA +5%  and – CRWD -5%

Dividend Increases: 

Stock Split:

Higher Guidance:  (After the Close) AMBA PLAN CAL NOVT  (This Morning) 

Mixed Guidance: (After The Close) CRWD PVH

Lower Guidance: (After The Close)  (This Morning) DY

Buyback Announcements: MRBK

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

S&P 500 +17 Dow Jones Industrial Average +122 NASDAQ +60  Russell 2000 +15.20.  Fair values are mixed. Asia  and Europe higher. VIX is at 18.33 from 19 in futures. VIX closed at 16.48 from 16.19. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $133.33 from $133.45 with yields at from 1.292%  yesterday morning. Bitcoin at $47,782 from $47,977 on Tuesday morning, trading at $479 or +0.98%.

Tuesday’s Action – 8/31 Close.  

Positive Sectors On Tuesday: Consumer Cyclical, Real Estate and  Communication Services of note.

Negative Sectors On Tuesday: Materials, Technology and Energy of note.

One Month Winners: Communication Services, Technology and Financials of note.

Three Month Winners: Technology, Communication Services and Healthcare of note.

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

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

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

Stocks were mostly lower ex the Russell 2000, Bonds were lower, U.S. Dollar higher and Commodities mixed. Updated 8/31 Close.

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

Today After the Close: VEEV, CHWY, CPRT, OKTA, ASAN, NTNX, AI, SMTC, PHR, GEF, SWBI, SPWH of note.

Thursday Before the Open: HRL, TTC, CIEN, DCI, AEO, KFY, SIG, DOOO, BRC, GMS, SCWX, GIII, GCO of note.

Earnings of Note This Morning:

Beats: CONN +0.51, CPB +0.08

Flat: BF.B

Misses: DY (0.15)

Still to Report: VRA

Insider Purchases:  Three names have high short interest with Dumb Short Sellers STIM CDLX ICMB. Update 9/1/21

Erlanger Research Advance/Decline Chart –Updated through 8/31 close. The Daily A/D Line is trying to rally past the mid August high and that could happen today.

Gap Ups & Down In Early Pre-Market:

Gap up: PLAN +17%, CAL +10%, PVH +8%, AMBA +8%, EGY +6%, ATNF +5%, CPLP +4%

Gap down: PLBY -5%, NIO -4%, PYCR -4%, CRWD -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 CPB PVH AMBA CRWD . (CNBC)

Overnight Repo comes in at $1.10 trillion.

Covid-19 Data sees 120,625 cases versus 115,901  cases. 90,279 hospitalizations versus 84,456. Deaths 769 versus 677. Peak in?

Delta Variant of Covid-19 has peaked in Southern States. (NYT)

OPEC raised 2022 global demand. (Reuters)

China threatens to ban ecommerce sites that violate IP laws.

Supreme Court does not block restrictive Texas Abortion Laws that stops at six weeks. (CNBC)

85% of largest companies to cut air travel after the pandemic. (Bloomberg)

Lucid Motors (LCID) down -9% on lockup expiration day.

Sally Beauty (SBH) CEO to step down and replacement named, Denise Paulonis.

Ark buys beaten down shares of Zoom (ZM) and Robinhood (HOOD).

Robinhood Snaps looks at South Korea slapping Google (GOOGL) and Apple (AAPL) app store payment dominance.

Moving Average Update

Score at 100% still.


Fed Speakers – None of note today.


August ADP Employment Report is due out at 8:15 a.m. EDT and are expected to rise to 660,000 from 330,000.

August ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 58.5% from 59.5%.

July Construction Spending is due out at 10:00 a.m. EDT as well and is expected to rise to 0.2% from 0.1%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

M&A Activity:

indie Semiconductor (INDI) buys TeraXion for $159 million.

Meeting & Conferences of Note:

Sellside Conferences:  Citi Asia TMT Conference (8/26-9/1) Commerzbank Sector Annual Corporate Conference (8/30-9/2) UBS China A-Share Virtual Conference (8/30-9/1) Credit Suisse China Internet C-Level Conference (8/30-9/1) Jefferies Semiconductor, IT Hardware & Communication Infrastructure Summit (8/31-9/1) Stifel Transportation Conference (8/31) UBS Japan in Focus (8/31-9/2) Bank of America Sustainability and the Circular Economy Investor Summit (9/1) Evercore ISI ESG Roundtable (9/1) Citi Korea Corporate Day (9/1-3) Morgan Stanley Asian TMT Conference (9/1-3) Jefferies ESG SMID Summit (9/1) Credit Suisse Japan Kyoto Summit (9/1) Barclays Media and Telecom Forum 2021 (9/1-2)

Company Meetings: COST (Monthly Sales Report) ADSK (Investor Day) CPLP RMBL (Conference Call) 

Conferences of Note: None of note.

Upgrades & Downgrades: Today recs see 5 notable upgrades and 1 downgrade. 

Monday Recommendations Of Note