CAPIS Morning Note – 9/29/21: Stocks Attempt To Rebound From Yesterday’s Selloff

Overnight Summary-  Markets are trying to recover from yesterday’s U.S. weakness but China and Japan fell -2%  but Europe is up about 1%. Earnings Out After The Close Beats: CALM +0.25, MU +0.08 Flat: None Misses: None Capital Raises:  IPOs Priced or News:  New SPACs launched:  Secondaries Priced: EQT MEG  of note. Notes Priced of note:  BKD…

Overnight Summary-  Markets are trying to recover from yesterday’s U.S. weakness but China and Japan fell -2%  but Europe is up about 1%.

Earnings Out After The Close

Beats: CALM +0.25, MU +0.08

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: EQT MEG  of note.

Notes Priced of note:  BKD HQY MAIN of note.

Common Stock filings:  LFMD BRQS DNN  of note.

Pricing of Over-Allotment: MKTY

Selling Shareholders of note: EQT of note.

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

Mixed Shelf Offerings:  CASH AXTI AYTU SBEV 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:

Sherwin Williams (SHW) lowers Q3 and Fiscal Year 2021 guidance on raw materials availability and pricing inflation.

AMC Networks (AMCX) COO Ed Carroll to leave at yearend.

Boeing (BA) wins $340 million Navy contract.

Index Changes: SLVM to join S&P Small Cap 600 on 10/4 as it replaces STMP which is being acquired by Thoma Bravo. SLVM is being spun out by IP on 10/1.

After Hours- Higher:  LCID +7% CALM +3%   Lower: LFMD -10%  EQT -4% MU -4% SHW -4%

Dividend Increases: 

Stock Split: 

Buyback Announcements: DLTR

Higher Guidance:  (After the Close)  of note (This Morning)  of note

Mixed Guidance:(After The Close)  of note  (This Morning)  of note

Lower Guidance:(After The Close) MU SHW of note (This Morning)  of note

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

S&P 500 +22 Dow Jones Industrial Average +144  NASDAQ +90  Russell 2000 +14. Fair values are mixed. Asia mixed and Europe higher. VIX is at 22.25 from 21.42 in futures from yesterday. Gold higher with silver and  copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $131.70 from$131.45  with yields at 1.515% from 1.544% yesterday morning. Bitcoin at $42,084 from $41,987 yesterday morning, trading at $560 or 1.35%.

Tuesday’s Action – 9/28 Close.  

Positive Sectors Tuesday: None of note.

Negative Sectors Tuesday: Technology, Communication Services and Healthcare of note.

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

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

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

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

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

Stocks were lower, Bonds were lower, U.S. Dollar higher and Commodities lower. Updated 9/28 Close.

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

Today After the Close: MLHR of note.

Thursday Before the Open: PAYX, MKC, KMX, EDU, BBBY, ANGO, GOTU of note.

Earnings of Note This Morning:

Beats: WOR +0.69, JBL +0.06

Flat: None

Misses: None

Still to Report: CTAS, EPAC

Erlanger Research Advance/Decline Chart –Updated through 9/28 close.  Heading back to the August lows?

Gap Ups & Down In Early Pre-Market:

Gap up: LCID +8%, AFRM +4%, ATRA +4%, OVV +3%

Gap down: LFMD -9%, EQT -5%, MU -3%

Insider Action: Of note, LPTX UIC SAFE see Insider buying with dumb short selling and smart short sellers in FEIM SXT. 9/28/21

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 MU LLY NFLX LCID    (CNBC)

Overnight Repo comes in at $1.297 trillion in Monday’s late afternoon report.

Covid Stats: Cases 83,959 from 91,205 a week ago. Deaths 1,142 from 1,334 a week ago. Hospitalizations 76,251 from 83,998.

Evergrande looks to raise $1.5 billion. (WSJ)

Fumio Kishida to be next Japanese Prime Minister. (WSJ)

Senate to vote on Continuing Resolution without Debt Ceiling Attachment to fund government through 12/3. Both parties support. (Politico)

Senator Bernie Sanders urges House Progressives  to vote against $1 trillion Bipartisan Infrastructure Bill on Thursday. (The Hill)

President Biden met with Senator Joe Manchin (D -WV) yesterday on Budget Reconciliation Bill. (CNBC)

Wells Fargo (WFC) delays return to office until January 2022. (Bloomberg)

Apple (AAPL) faces longer iPhone 13 delays due to Covid-19 issues in Vietnam. (Nikkei)

FDA looks at Moderna (MRNA) booster vaccine in a half dose. (Bloomberg)

ASML increases long term outlook.

Samsung (SSNLF) close to building a $17 billion chip plant in Texas. (Reuters)

Beam Global (BEEM) wins City of Torrance contract for their EV ARC solar powered EV charging system to charge City transit fleet EVs.

Moving Average Update

Score at 23% from 70% unchanged. Updated 9/28 Close.


The President receives the President’s Daily Brief, Closed Press, 9:30 a.m. EST

The President attends the memorial of former Indiana First Lady Susan Bayh, Closed Press, 12:00 p.m. EST

Press Briefing by Press Secretary Jen Psaki, 2:00 p.m. EST 

Fed Speakers:

Federal Reserve Chairman Jerome Powell speaks at 11:45 a.m. EDT.

Federal Reserve  Atlanta President Raphael Bostic speaks at 2:00 p.m. EDT.

Federal Reserve New York President John Williams speaks at 5:00 p.m. EDT.


Weekly API Petroleum Institute Data was out at 4:30 p.m. EDT and

Weekly MBA Mortgage Applications was out at 7:00 a.m. EDT and fell -1.1% from 4.9% increase last week.

August Pending Home Sales are due out at 10:00 a.m. EDT and expected to rise to 1.0% from -1.8%.

M&A Activity:

Akamai Technology (AKAM) buys Guardicore for $600 million.

Asbury Automotive (ABG) buys Larry H. Miller Dealerships and Total Care Auto adds $5.7 billion in new annualized revenues.

Meeting & Conferences of Note:

Sellside Conferences: Cantor Fitzgerald Global Healthcare Conference (9/27-30)  Wolfe Research Utilities, Midstream & Clean Energy Conference (9/28-30) Piper Sandler Heartland Summit (9/29-30) TD Securities Paper & Forest Products Conference (9/29) Bank of America Life Sciences & Medical Technology Innovation Forum (9/29)

Company Meetings:  JLL GNRC ASML VOD (Investor/Analyst Day) HZNP (R&D Day)  (Corporate Event) (Fireside Chat)  (Corporate Event) GOVX SHW (Conference Call) 

Conferences of Note: Emerging Growth Conference (9/29) Benzinga Healthcare Small Cap Conference (9/29-30)

Upgrades & Downgrades: Today recs see 9 notable upgrades and 0 downgrades. 

Tuesday Recommendations of Note: