Monday, November 15, 2021
The Week Ahead
The S&P 500, NASDAQ 100, Russell 2000 and Dow Jones Industrial Average were all lower for the first time in five weeks.
1.Geopolitical and Fiscal Events. The games continue in Washington D.C. as the House, Senate and President try to hammer out the Budget Reconciliation Bill. Soon the debt ceiling will be front and center with a new drop dead date.
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 Empire State Manufacturing Index, retail sales, industrial production, NAHB Housing Market Index, housing starts, Philadelphia Fed Index and leading indicators.
3.Earnings Releases. Notable releases this upcoming week include LCID TSN WMT HD NVDA CSCO BABA INTU FL KSS.
Monday, November 15th
November Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 20.3 from 19.8.
Tuesday, November 16th
October Retail Sales are due out at 8:30 a.m. EDT and is expected to rise to 1.2% from 0.7%.
October Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 0.8% from -1.3%.
November NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to remain at 80.
Wednesday, November 17th
October Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,590,000 from 1,555,000.
Thursday, November 18th
November Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to 22 from 23.8.
October Leading Indicators are due out at 10:00 a.m. EDT and are expected to rise to 0.8% from 0.2%
Friday, November 19th
No events of note.
Stocks Futures On The S&P 500 +11
Overnight Summary: The S&P 500 is trading overnight in a 23 point range with it up 20 points from the low and up 10 points heading to the open. China put up better economic data with beats on industrial production and retail sales. Japan saw GDP fall -3% in Q3. Europe has a slightly positive bias.
Breaking News: American Tower (AMT) agrees to acquire CoreSite (COR)
Earnings Out After The Close:
- Beats: None.
- Flat: None.
- Misses: None.
- IPOs Priced or News: None of note.
- New SPACs launched: None of note.
- Secondaries Priced: None of note.
- Notes Priced of note: None of note.
- Common Stock filings/Notes:
- AGEN: Filed Form S-3ASR.. 650,000 Shares of Common Stock
- LNC: Filed Form S-3ASR.. 2,802,000 Shares
- PTPI: Filed Form S-1.. 3,453,616 Shares of Common Stock
- STAF: Filed Form S-3.. 9,718,360 Shares of Common Stock
- Pricing of Over-Allotment: None of note.
- Direct Offering: None of note.
- Selling Shareholders of note:
- NEXT: Filed Form S-3.. 2,175,856 shares of Common Stock for Sale by the Selling Shareholders
- MAX: Filed Form S-3.. 34,935,871 Class A Common Stock for Sale by Selling Shareholders
- ARRY: Filed Form S-3ASR.. UP TO 7,875,000 Shares of Common Stock for Sale by Selling Shareholders
- Private Placement of Public Entity (PIPE): None of note.
- Mixed Shelf Offerings:
- FREE: Filed Form S-3.. $250,000,000 Mixed Shelf
- LSF: Filed Form S-3.. $100,000,000 Mixed Shelf
- MIST: Filed Form S-3.. $250Million Mixed Shelf
- OMC: Filed Form S-3ASR.. Mixed Shelf
- PRLD: Filed Form S-3.. $400,000,000 Mixed Shelf
- TACT: Filed Form S-3.. $50,000,000 Mixed Shelf
- 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:
- Weekly Wrap Up: Best and Worst performing large cap stocks:
- Trading Up: TTD 46%, NEWR 40%, ACB 28%, RGS 28%, CGC 28%, APLS 26%, SAIL 25%, FTCH 24%, UBX 24%, CENX 22%, TLRY 21%, FOSL 21%, PVG 20%, ARRY 20%, TRQ 18%, RNG 18%, QDEL 17%
- Trading Down: TISI -45%, EHTH -31%, PRTY -28%, FSM -25%, CSII -23%, TCMD -22%, HTZ -22%, EYE -21%, ALKS -20%, DDD -20%, TPIC -20%, HAE -20%, JOBS -19%, TELL -18%, FRPT -18%, AGS -18%, NLS -18%, TXMD -18%, REI -18%, NVTA -17%
- News Items:
- Bitcoin Creator Satoshi Nakamoto Could Be Unmasked at Florida Trial (Wall Street Journal)
- Dollar Tree (DLTR) trades up +3% on news that Mantle Ridge LP has $1.8 billion stake and is seeking changes. (WSJ)
- TAL Education (TAL) to stop offering academic subjects to K-9th grade in China at fiscal year end, will impact revenues in a significant way.
- Several 13Fs filed by several hedge funds including Baupost Group,Trian Fund, Soros Fund
- Asset Under Mgmt Updates: None of note.
- Positive View: M, ANF, SPG, JWN, SIG, CAL, PFE, EVGO, MLM, VMC, VLTA, RIVN, NICE, RNG
- Negative View: JNJ
- Mixed View: None of note.
- Stock Split: None of note.
- Exchange/Listing News: None of note
- Buyback Announcements:
- REGN: Regeneron Announces $3 Billion Share Repurchase Program
- Dividends Announcements:
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +7.48 Dow Jones Industrial Average +97.77 NASDAQ +26.53 Russell 2000 +4.76. Asia and Europe mixed. VIX is at 20.60 from 18.85 in futures from yesterday. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower as well. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.77 from $130.48 with yields at 1.558% from1.568% Friday morning. Bitcoin at $65,778 from $63,989 Friday morning up 2.51% in early morning trading. As of 8:15 a.m. EST.
Friday’s Action – 11/12 Close:
- Daily Positive Sectors: Communication Services, Technology, Industrials, Consumer Cyclical of note.
- Daily Negative Sectors: Energy of note.
- One Month Winners: Consumer Cyclical, Technology, Industrials of note.
- Three Month Winners: Energy, Consumer Cyclical, and Technology of note.
- Six Month Winners: Technology Communication Services, Consumer Cyclical of note.
- Twelve Month Winners: Energy, Financials and Technology of note.
- Year to Date Winners: Energy, Technology, and Communication Services of note.
Stocks were monstly up led by NDX 100 at 1%. UNG continues its up/down yo-you action pulling back -6%. Updated 11/12 Close.
Upcoming Earnings Of Note: (sorted by market cap, highest to lowest with most visible names)
- Monday After the Close: LCID, AAP, RXT, JJSF, CMP, CURV, PLBY, CSPR of note.
- Tuesday Before the Open: WMT, HD, NTES, TDG, GDS, ARMK, DAVA, CRNC, GFF, DOYU of note.
Earnings of Note This Morning:
- Beats: TSN +0.08, ACM +0.04, OTLY +0.03
- Flat: None
- Misses: WMG (0.10), YOU (0.05), LAC (0.04)
- Still to Report: HHR
Erlanger Research Advance/Decline Chart: Updated through 11/12 close.
Gap Ups & Down In Early Pre-Market:
- Gap Up: EYPT +53%, MESO +13%, LXRX +13%, JSPR +9%, TWKS +7%, DNA +4%, ACM +3%
- Gap Down: OTLY -15%, BTAI -13%, EVGO -8%, TAL -5%, LIVN -4%, WMG -3%
Insider Action: CLR, CAKE, LIVN sees Insider buying with dumb short selling and GHL has smart short sellers with insider buys. 11/12 close
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Moving Average Update:
- Score jumps to 90% from 66%. Updated 11/12 close.
- President’s Public Schedule:
- The President receives the President’s Daily Brief, 9:30 a.m. EST
- The President participates in a Tribal Nations Summit coinciding with national Native American Heritage Month, 11:20 a.m. EST
- Press Briefing by Press Secretary Jen Psaki, 1:30 p.m. EST
- The President signs into law his Bipartisan Infrastructure Deal, H.R. 3684, the “Infrastructure Investment and Jobs Act”, 3:00 p.m. EST
- The President meets virtually with His Excellency Xi Jinping, President of the People’s Republic of China, 7:45 p.m. EST
- November Empire State Manufacturing is due out at 8:30 a.m. EST and is expected to rise to 20.3 from 19.8.
Federal Reserve Speakers:
- No Fed Speakers scheduled.
- STC: Stewart Announces Agreement for the Acquisition of PropStream
Meeting & Conferences of Note:
- Sellside Conferences:
- Barclays Gene Editing & Gene Therapy Summit 2021
- Citi Fintech Conference 2021 (11/15-11/18)
- Cowen 5th Annual IO Next Virtual Summit 2021 (11/15-11/17)
- Goldman Sachs Carbonomics Conference: The Green Engine of Economic Recovery 2021 (11/10-11/16)
- Guggenheim Healthcare Talks Idea Forum 3rd Annual Neuro/Immunology Day (11/15-11/16)
- Jefferies 12th Annual London Global Healthcare Conference 2021 (11/15-11/19)
- J.P. Morgan Energy Technology Tour 2021
- J.P. Morgan Global Luxury and Brands Conference 2021
- Needham Networking, Communications & Security Conference 2021 (11/15-11/18)
- Stifel Virtual Healthcare Conference 2021 (11/15-11/17)
- Company Meetings:
- Investor/Analyst Day: ADP, BLU, OLK, VOYA, SWCH, KZR
- Update: RCKT, FATE, NXTC, UAVS, CBAY
- R&D Day: None of note.
- Conference Call:
- Company Event: PANW, GLYC
- Industry Meetings:
- American College of Toxicology 42nd Annual Meeting 2021 (11/10-11/19)
- American Association for the Study of Liver Disease / AASLD Annual Meeting – The Liver Meeting 2021 (11/12-11/15)
- American Academy of Ophthalmology Annual Meeting (AAO 2021)
- American Heart Association AHA Scientific Sessions 2021
- American Association of Gynecologic Laparoscopists (AAGL) 50th Global Congress 2021 (11/14-11/17)
Upgrades & Downgrades:
Today's Superstock Investor Stock Scorecard:
Merck & Co., Inc. (MRK)
by Superstock Investor
Merck (MRK) hits our radar this morning. The stock is at $84 down from $90 when Pfizer announced their oral antiviral.
||Merck & Co., Inc.
Stock data last updated 10/28/2021.
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