Superstock Investor
Morning Briefing

Monday, August 23, 2021

Morning Matters:

The Week Ahead

The S&P 500, Dow Jones Industrial Average, Russell 2000 and NASDAQ 100 were all lower for the week.

1.Geopolitical and Fiscal Events. On Thursday the Jackson Hole Symposium begins. Congress is back for a one week session before going back on recess while the Supreme Court is still hearing cases and may rule on the eviction moratorium this week.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as existing home sales, new home sales, durable orders, Q2 GDP, personal income, PCE Core and University of Michigan Consumer Sentiment.

3.Earnings Releases. Notable releases this upcoming week include JD PANW MDT INTU CRM RY TD VMW WDAY DG BIG HIBB. See the Earnings section of Chart Room for more details.

Monday, August 23rd

July Existing Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 5.85 million from 5.86 million.

Tuesday, August 24th

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%.

Wednesday, August 25th

July Durable Order are due out at 8:30 a.m. EDT and are expected to remain at 0.30%.

Thursday, August 26th

Q2 GDP – second estimate is due out at 8:30 a.m. EDT and is expected to remain at 6.0%.

The Kansas City Federal Reserve holds its annual symposium in Jackson Hole, Wyoming and it will run through Saturday. The event is now virtual from in person.

Friday, August 27th

July Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from 0.1%.

July PCE Prices – Core is expected to fall to 0.3% from 0.4%.

August University of Michigan Consumer Sentiment – final is due out at 10:00 a.m. EDT and is expected to improve to 70.7 from 70.2.

Federal Reserve Chairman Powell will speak at the Jackson Hole Symposium.

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Market Matters:

Stocks Futures On The S&P 500 +15

Earnings Out After The Close:

 Beats: None of note

 Flat: None of note

 Misses: None of note

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: NextGen (NCGA) enters into a deal with Vieco USA  to trade under VORB.

Secondaries Priced:  None of note.

Notes Priced of note:  None of note.

Common Stock filings:  MVST BGRY  of note.

Selling Shareholders of note: ASC  MVST BGRY FFIE of note.

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

Mixed Shelf Offerings:  ASC SVC LKCO LOOP GAN 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:

Nexstar (NXST) buys The Hill for $130 million.

City Office REIT (CIO) to sell holdings in SOrrento Mesa submarket of San Diego for $576 million.

General Motors (GM) expands Chevy Bolt EV recall at a cost of $1 billion to replace defective battery modules.

FDA may approve Pfizer (PFE) Covid-19 vaccine on Monday. (NYT)

Barron’s + on AAPL MSFT GOOG FB AMZN STEM JEF INTC TSM BOX.

Dividend Increases: AFG CABO 

Stock Split:

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

Mixed Guidance: 

Lower Guidance:

Buyback Announcements: ALL

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

S&P 500 +15 Dow Jones Industrial Average +160  NASDAQ +43 Russell 2000 +17.  Fair values are mixed. Asia  and Europe higher. VIX is at +20.01 from 22.55 in futures. VIX closed at 18.56 from 21.67. Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $134.03 from $134.39 with yields at 1.26% from 1.23% yesterday morning. Bitcoin at$50,440 from $47069 on Friday morning, trading at $1812 or +3.73%.

Friday’s Action – 8/20 Close.  

Positive Sectors On Friday: Utilities, Technology and Communication Services of note.

Negative Sectors On Friday: None 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 higher, U.S. Dollar lower and Commodities lower ex  Gold. Updated 8/20 Close.

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

Today After the Close: PANW, GBDC, SYKE of note.

Tuesday Before the Open: MDT, BMO, BBY, AAP, EDU of note.

 Earnings of Note This Morning:

Beats: JD +0.67

Flat: none

Misses: MSGE (1.67)

Still to Report: None

 Insider Purchases:  

Erlanger Research Advance/Decline Chart –Updated through 8/20 close. The Daily A/D Line had a dead cat bounce on Friday. More follow through today.

Gap Ups & Down In Early Pre-Market:

Gap up: CIO +23%, AXSM +20%, EDIT +7%, BNTX +6%, BTBT +6%, MVST +4%, PFE +3%, LXRX +3%

Gap down: None of note.

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.

House to vote on $1 trillion bipartisan infrastructure bill that passed the Senate and the House’s $3.5 trillion budget resolution. (WSJ)

Some Democrats to vote against the budget resolution unless the infrastructure bill is passed first. (The Washington Post)

House Speaker may delay the infrastructure bill to later in the year. Will try to attach the Voting Rights Bill to the budget resolution.  (Bloomberg)

U.S. Delta Variant cases may have hit a peak but deaths will lag and not peak for a while. (IHME Model)

U.S. states that their a threats from ISIS at the Kabul Airport in addition to Taliban threats. (NYT)

President Biden may push the August 31st deadline for removing U.S. troops from Afghanistan. (NYT)

Federal Reserve is working on a digital currency. (NY Post)

CDC says that elderly people should not take cruises right now. (USA Today)

Disney (DIS) revenues for Black Widow online are at $125 million. (Reuters)

Boeing (BA) to invest in Virgin Orbit as part of a $3.2  billion SPAC. (WSJ)

Employees may not want to return to the office. (WSJ)

Robinhood Snaps look at Apple (AAPL) and Tim Cook in the driver’s seat the last 10 years. Week ahead review.

Moving Average Update

Score at 63% from 33%.

Geopolitical:

The President receives the President’s Daily Brief, The White House, 9:30 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, 10:00 a.m. EST

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

The President welcomes the Seattle Storm to the White House to honor the team for their 2020 WNBA Championship, East Room, 3:30 p.m. EST

Fed Speakers

None of note scheduled but watch for impromptu appearances.

Economic:

July Existing Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 5.85 million from 5.86 million.

M&A Activity:

Pfizer (PFE) to buy Trillium Therapeutics (TRIL) for $18.50 a share.

KAR Auction Services (KAR) to buy CARWAVE  for $450 million.

Meeting & Conferences of Note:

Sellside Conferences: Credit Suisse Agribusiness & Foods Conference (8/23-25)

Company Meetings:   None of note.

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

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

Friday Recommendations Of Note

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Today's Superstock Investor Stock Scorecard:

Pfizer Inc. (PFE)
by Superstock Investor


 

The FDA is likely to fully approve the Pfizer (PFE) vaccine today. The stock has been moving higher and is now at $48.72. Is there value here?

Company Information

Company: Pfizer Inc.
Sector: Pharmaceuticals
Industry: Pharmaceuticals
Market Cap:  $202,830,000,000

Targets

  Price %Gain  
Current Price $50.42    
Price Target $31.45 -0.1%  
Upper Bound $39.31 0.1%  
Lower Bound $23.59 -0.3%  

Stock data last updated 08/17/2021.

Data provided by QPI, Inc. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. QPI, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing this page, you agree not to redistribute the information found herein.

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