Friday, January 07, 2022
Stocks Futures On The S&P 500 +6
Overnight Summary: Stocks are modestly higher in the U.S. and mixed overseas. Asia is mixed and lower in European trading. S&P 500 Futures traded down to 4680 at 4:00 a.m. EST and are now at 4700 higher at 7:00 a.m. EST, higher by 10 S&P points.
Breaking News: Another whiff on Job Data. Comes in at 199,000 with estimate of 442,000.
Key Stat (Maybe): NASDAQ stocks down 50% or more almost at a record. (Bloomberg)
Key Chart off Key Data: We track internals on the NASDAQ 100 not the NASDAQ Composite. Could be worse calling into question above story.
Earnings Out After The Close:
- Beats: WDFC +0.09, PSMT +0.07 and DCT +.03
- Flat: None.
- Misses: None.
- IPOs Priced or News: CinCor Pharma (CINC) priced at $16 on 12,100,000 shares.
- New SPACs launched:
- Secondaries Priced:
- SWIM priced 12,000,000 shares of common stock at $19.50.
- VIGL priced 7,000,000 shares of common stock at $14.00
- AHH priced 3.5 million offering.
- Notes Priced of note: KREF priced 4,400,000 share of preferred stock at $25 a share.
- Common Stock filings/Notes:
- AHH: Public Offering of 3.5 million share of common stock.
- Pricing of Over-Allotment: None of note.
- Direct Offering: None of note.
- Selling Shareholders of note:
- NAKD: Public Offering of 188,958,629 ordinary share offering.
- Private Placement of Public Entity (PIPE): None of note.
- Mixed Shelf Offerings:
- Note Offerings Filed: None of note.
- Convertible Offering & Notes Filed:
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box as well as other sources.
News After The Close:
- After The Close Biggest Winners & Losers:
- Trading Up: GME +30% DCT +8% IMRC +7% NAKD +5%
- Trading Down: AHH% -5% GKOS -3%
- News After The Close:
- T-Mobile (TMUS) updates latest metrics and sees net adds for Q4 at 1.8 million, highest in company history.
- Quidel (QDEL) raises guidance as tests requests off the charts due to Covid.
- Johnson & Johnson (JNJ) updates vaccine data, finds effective up to six months.
- Albemarle (ALB) raises prices for its Catalysts global business unit customers due to rising energy costs.
- Gamestop (GME) to enter NFT and cypto market, stock up 30%.
- Moderna (MRNA) CEO says a fourth shot may be needed. (CNBC)
- Boeing’s (BA) Bell unit wins $1.6 billion Navy contract.
- CarParts.com (PRTS) guides Q4 higher.
- Sonos (SONO) moves higher on reports court ruled Google (GOOGL) infringed on Sonos patent. (NYT)
- Exchange/Listing/ Company Reorg and Personnel News
- Azenta (AZTA) names Matthew McManus as COO effective 1/17.
- Lululemon (LULU) names Michael Aragon as CEO of Mirror and lululemon Digital Fitness, came from Amazon (AMZN) where he ran content for Twitch.
- Privia Health (PRVA) names Jeffrey Sherman as CFO and Executive Vice President.
- Buyback Announcements
- West Pharm (WST) to buyback up to 650,000 shares of common stock.
- Stock Splits:
What’s Happening This Morning:
S&P 500 +4, Dow Jones +1, NASDAQ +30 and Russell 2000 -1. Asia mixed and Europe lower. VIX Futures are at 20.85 from 19.10 yesterday morning. Gold, Silver and Copper lower. 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 $128.58 from $128.50 yesterday with yields at 1.73% from 1.746% yesterday morning. Bitcoin at $42,440 from $42,690 yesterday morning and -1.82%. As of 8:05 a.m. EST.
Thursday’s Action – 1/6 Close:
- Daily Positive Sectors: Energy, Financials and Communication Services.
- Daily Negative Sectors: Utilities, Healthcare and Materials.
- One Month Winners: Energy, Financials and Consumer Defensive of note.
- Three Month Winners: Materials, Consumer Defensive and Real Estate of note.
- Six Month Winners: Energy, Technology and Utilities of note.
- Twelve Month Winners: Energy, Real Estate, and Technology of note.
- Year to Date Winners: Energy, Financials and Consumer Defensive of note.
Selling into the close brought the major indexes down for the day with the exception of the Russell 2000. Stocks selloff post the FOMC announcement continues. Other assets sold off as well. Updated 1/6 close.
Upcoming Earnings Of Note: (sorted by market cap, highest to lowest with most visible names)
- Friday After the Close: None of note.
- Monday Before the Open: AZZ CMC TLRY of note.
Earnings of Note This Morning:
- Flat: None.
- Still to Report: None.
Erlanger Research Advance/Decline Chart: Updated through 1/6 close. Both the S&P 500 and the Daily Market A/D Line were lower yesterday.
Gap Ups & Down In Early Pre-Market:
- Gap Up: ABSI +26.2%, GME +18.3%, DCT +7.6%, FC +7%, PRTS +5.2%, SONO +4.4%, IMRX +4.1%, ARBK +3.9%, PSNL +3.8%, QDEL +3.2%, MX +3%
- Gap Down: AHH -5%, JHX -2.6%, NBIX -2.1%
Insider Action: Insider action of note this morning with heavy short selling where the short get it wrong ASAN BBIO.
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: GME TMUS SONO (CNBC)
- Covid cases rose to 705,264 cases from 447,870 a week ago. Hospitalizations rise to 95,520 from 66,539. (CDC)
- 5 Things to Know to Start Your Day. (Bloomberg)
- Germany to expand Covid-19 restrictions. (Seattle Times)
- Former Federal Reserve Chairman Richard Clarida sees more scrutiny on his personal trading. (WSJ)
- Netflix (NFLX) has hit a homerun with “Don’t Look Up” as now has seen 152 million viewing hours. (WSJ)
- Scientists question the idea of continuing to boost every six months. (NYT)
- TSMC (TSM) looks to expand capex notes industry analysts. (Digitimes)
- Papa John’s (PZZA) to open 1,350 stores in South China as partners with FountainVest Partners.
- DraftKings (DKNG) Co-Founder Matt Kalish interviewed on CNBC excited about New York betting launch. (CNBC)
Moving Average Update:
- Score fell to 33% from 36%. Updated 1/6 close.
- Supreme Court to hear Vaccine Mandate case.
- President Biden speaks at 10:45 a.m. EST about Jobs Friday. Bound to be good if he is talking, simple inference.
- President Biden then travel to Denver area to view the impact of the recent forest fires.
- Then the President heads to visit with supporters and try his luck at the craps table.
- December Nonfarm Payrolls are due out at 8:30 a.m. EST and are expected to grow to 440,000 from 210,000. The unemployment rate is expected to drop to 4.1% from 4.2%.
Federal Reserve Speakers:
- Federal Reserve San Francisco President Mary Daly speaks at 10:00 a.m. EST.
- Federal Reserve Atlanta President Raphael Bostic speaks at 12:15 p.m. EST.
- Federal Reserve Richmond President Tom Barkin speaks at 12:30 p.m. EST.
- The New York Times (NYT) buys The Athletic for $550 million in cash.
Meeting & Conferences of Note:
- Sellside Conferences: CS Greater China Technology and Internet Virtual Conference
- Previously Posted and Ongoing Conferences:
- Citigroup AppsEconomy Conference
- RBC Capital Market New Years Previews
- Company Meetings: SMAR of note.
- Fireside Chat: None of note.
- Investor/Analyst Day/Calls: VRTS
- Update: None of note.
- R&D Day: None of note.
- Company Event: None of note.
- Industry Meetings: ASSA 2022
- Previously Posted and Ongoing Conferences:
- Consumer Electronic Show (CES) (1/3-1/7).
Top Tier Sellside Upgrades & Downgrades:
The recommendations listed below in this “Upgrade & Downgrade Section” are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market moving recommendations. None of these recommendations should be interpreted should be interpreted as actual recommendations from CAPIS or its employees.
Thursday’s Upgrades & Downgrades
Today's Superstock Investor Stock Scorecard:
Intel Corporation (INTC)
by Superstock Investor
Intel (INTC) has risen a couple dollars this week and is now at $54.01 from $50ish in the last week. Is there value here?
Stock data last updated 10/28/2021.
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