Breaking News: Monthly Jobs Data rises 235,000 missing estimates
Earnings Out After The Close
Beats: OXM +0.90, SAIC +0.51, MDB +0.16, COO +0.12, GWRE +0.12, DOCU +0.07, HPE +0.05, AVGO +0.05, OOMA +0.04, PD +0.02, YEXT +0.01
Misses: JOAN (0.07), NX (0.02), MDLA (0.01)
IPOs Priced or News: None of note.
New SPACs launched: Genesis Park Acquisition Corp (GNPK) merges with Redwire and will begin to trade as RDW today.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: SGOC CERT BGRY LQDA of note.
Selling Shareholders of note: SNX of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: 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:
NASDAQ (NDAQ) traded 247 million equity options contracts versus 243 million in July and 215 million in 2020.
Redditt looking for bankers to IPO company.
fuboTV (FUBO) gets a mobile gaming license in Arizona.
Eli Lilly (LLY) to get approval for distribution of their antibody therapy for Covid-19. (Bloomberg)
After Hours: + APOP +52% MDB +12% PD +11% OXM +7% OOMA +6% GWRE +6% and – FBRE -82% YEXT -11% JOAN -10% LAW -6% SGOC -4%
Dividend Increases: CSWC
Higher Guidance: (After the Close) AVGO DOCU OOMA OXM SAIC (This Morning) None of note
Mixed Guidance: (After The Close) COO GWRE MDB PD YEXT (This Morning) None of note
Lower Guidance:(After The Close) None of note (This Morning) None of note
Buyback Announcements: CATY ASH
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +2 Dow Jones Industrial Average -29 NASDAQ +46 Russell 2000 +5.38. Fair values are mixed. Asia and Europe mixed. VIX is at 18.20 from 17.99in futures. VIX closed at 16.41 from 16.11 . Gold and silver higher with copper lower. 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 $133.53 from $133.63 with yields at 1.297% from 1.287% yesterday morning. Bitcoin at $50,691 from $50,117 yesterday morning, trading at $1259 or +2.55%.
Thursday’s Action – 9/2 Close.
Positive Sectors Yesterday: Energy, Healthcare and Industrials of note.
Negative Sectors Yesterday: Communication Services, Materials and Consumer Cyclical 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 higher ex NASDAQ 100, Bonds were higher, U.S. Dollar lower and Commodities mixed. Updated 9/2 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: None of note.
Tuesday Before the Open: EDU of note.
Earnings of Note This Morning:
Still to Report: none
Insider Purchases: One name has high short interest with Dumb Short Sellers PCG and one with no history GDRX. Update 9/3/21
Erlanger Research Advance/Decline Chart –Updated through 9/2 close. The Daily A/D Line blew past the mid August high yesterday.
Gap Ups & Down In Early Pre-Market:
Gap up: APOP +54%, PD +14%, MDB +13%, GWRE +8%, OXM +7%, CTLP +5%, SAIC +3%
Gap down: FBRX -81%, JOAN -12%, YEXT -12%, LAW -8%, NX -7%, SGOC -4%
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 DIDI NFLX MDB PD (CNBC)
5 Things To Know Before The Open. (CNBC)
Overnight Repo comes in at $1.066 trillion in yesterday’s late afternoon report.
Covid-19 Data sees 171,123 cases versus 153,572 cases. 91,590 hospitalizations versus 85,611. Deaths 1,328 versus 1,138.
Senator Joe Manchin (D- WV) again reiterates will not support the $3.5 trillion budget reconciliation bill. (The Hill)
Japanese Prime Minister Suga will not seek another term. Japan up 2% on that news. (WSJ)
WHO list the MU variant of Covid-19 as a variant of interest. (NYT)
Beijing wants to take Didi (DIDI) under state control. (Bloomberg)
Tesla (TSLA) Cybertruck delayed until 2022. (Electrek)
JD.com (JD) pulls sale of 87 games which is a – for ATVI ERTS NTDOY TTWO.
Robinhood Snaps looks at Facebook (FB) fines. American Eagle (AEOS) falls on strong sales but misses estimates.
Moving Average Update
Score at 100% still. Updated 9/2 Close.
The President receives the President’s Daily Brief, 9:00 a.m. EST
The President delivers remarks on the August jobs report, 10:00 a.m. EST
The President departs the White House en route Joint Base Andrews en route New Orleans, Louisiana, 10:30 a.m. EST
The President receives a briefing from local leaders on the impacts of Hurricane Ida, 2:15 p.m. EST
The President tours a neighborhood in LaPlace, Louisiana and delivers remarks on his Administration’s response to Hurricane Ida, 3:35 p.m. EST
The President inspects the damage from Hurricane Ida by taking an aerial tour of hard hit communities, including Laffite, Grand Isle, Port Fourchon and Lafourche Parish, 4:55 p.m. EST
The President meets with local leaders from impacted communities, 6:00 p.m. EST
The President departs Lafourche Parish, Louisiana en route New Orleans, Louisiana, 6:40 p.m. EST
The President departs New Orleans, Louisiana en route Philadelphia, Pennsylvania, 7:10 p.m. EST
The President arrives in Philadelphia, Pennsylvania, 9:35 p.m. EST
The President departs Philadelphia, Pennsylvania en route Wilmington, Delaware, 9:55 p.m. EST
The President arrives in Wilmington, Delaware, 10:10 p.m. EST
August Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to fall to 750,00 from 943,000. The unemployment rate is expected to fall to 5.2% from 5.4%.
August ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 62% from 64%.
Meeting & Conferences of Note:
Sellside Conferences: Citi Korea Corporate Day (9/1-3) Morgan Stanley Asian TMT Conference (9/1-3) Deutsche Bank dbAccess European TMTConference (9/2-3) UBS China Telco, Media & Internet Conference (9/2-3)
Company Meetings: None of note
Conferences of Note: None of note.
Upgrades & Downgrades: Today recs see 5 notable upgrades and 1 downgrade.
Thursday Recommendations Of Note