The Daily Briefing For August 16th: Futures Lower As Stock Fall Like Afghanistan

by Geoff Garbacz | 08/16/2021 8:57 AM

Rebel Yell Morning Market Report

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The Daily Briefing For August 16th: Futures Lower As Stock Fall Like Afghanistan

Breaking News: Updates from Afghanistan lead the news flow this morning.

Breaking Economic News: Empire State Manufacturing falls to 18.3 well below estimates.

Earnings Out After The Close:

Beats: None of note.

Flat: None

Misses: CMP (-0.02) of note.

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: None of note.

Secondaries Priced:  None of note.

Notes Priced of note:  of note.

Common Stock filings: ARDX HLMN JELD of note.

Selling Shareholders of note: EQOS BTX GMBL HLMN PING of note.

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

Mixed Shelf Offerings: ALEX AKUS  PSTX ALXO  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:

Starboard Value who is an activist investors takes a new position in Papa John’s (PZZA) and increased Cerner (CERN) position.

Sonos (SONO) wins patent infringement case against Google (GOOGL). (Bloomberg)

Multiple new 13F positions disclosed by hedge fund managers.

BAE Systems (BAESY) wins $1.3 Navy contract with Fincantieri Marine.

Raytheon Technologies (RTX) wins $960 million Air Force contract.

A 7.2 Earthquake hit in Haiti over the weekend and over 1,200 are dead.

White House sent 5,000 more troops to Afghanistan over the weekend to help with the evacuation of Kabul.

Barron’s + on BA AMED AMRS BAH JBHT VAC SITE STAA SFIX TREX UPMK CVNA RBLX MSFT NVDA U and +/- on MRNA ED PCG NEE SO

Dividend Increases: BMI WLK

Stock Split:

Higher Guidance: 

Mixed Guidance:

Lower Guidance: 

Buyback Announcements: JELD

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

S&P 500 -17 Dow Jones Industrial Average -138  NASDAQ -62 Russell 2000 -13.  Fair values are mixed. Asia mixed and Europe lower. VIX is at 20.05 from 19.27 in futures. VIX closed at $15.45 from $15.59. Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $134.14 from $133.55 with yields at 1.28% from 1.352% Friday morning. Bitcoin at $47,504 from $46,412 Friday morning, trading at $1199 or 2.59%.

Friday’s Action – 8/13 Close.  

Positive Sectors On Friday:  Consumer Defensive, Materials and Utilities of note.

Negative Sectors On Friday: Energy, Consumer Cyclical and Industrials 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 ex Russell 2000, Bonds were higher, U.S. Dollar lower and Commodities mixed. Updated 8/13 Close.

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

 Today After the Close: RBLX, STNE, TME, FN, CMP, ANNX of note.

Tuesday Before the Open: WMT, HD, GDS, MNDY, PINC, AIT, HUYA of note.

Earnings of Note This Morning:

Beats: HHR +2.93, ZH +0.15, DOYU +0.03

Flat: none

Misses: OTLY (0.01)

Still to Report: PSFE

Insider Purchases:  

We see  several names with heavy and moderate short selling with dumb short sellers so these highlighted names can be considered as potential buys. Updated 8/16

Erlanger Research Advance/Decline Chart –Updated through 8/13 close. 

Gap Ups & Down In Early Pre-Market:

Gap up: SONO +12%, ALXO +5%, DMS +5%, ZH +5%, AOSL +4%, PSFE +4%

Gap down: ARDX -6%, SSL -3%

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 SONO COIN MSTR STX TME OTLY. (CNBC)

5 Things to Know Before The Market Opens. (CNBC)

Covid-19 Data sees 140,144  cases versus 124,928 cases. 66,428 hospitalizations versus 50,502.  Deaths 804 versus 630.

Malaysian Prime Minister and Cabinet resign. (CNBC)

Chinese Retail Sales come in weak at 4%. (CNBC)

Growing support for Federal Reserve beginning  with a taper announcement  in September followed by actual tapering in October. Lasts 8-10 months. But could be delayed to November if the jobs data is weak in August which will be announced September 3rd. (CNBC)

House Speaker Pelosi looks to passing the $1 trillion infrastructure bill and the $3.5 trillion budget resolution at the same time.

Census data will lead to redistricting before 2022 elections. (AP)

NIH Director Francis Collins expects Delta Variant cases to rise above 200,000 soon. (Fox News)

Crypto market sees value surpass $2 trillion for the first time in several months. (CNBC)

Chevron (CVX) delays return to office in Texas and California. (Bloomberg)

State Street (STT) to vacate NYC offices and give employees the option to work  in New Jersey and Connecticut offices. (WSJ)

Tropical Storm Fred to hit Gulf Coast on Tuesday. (Weather Channel)

Hackers for 100 million names and social security numbers of T Mobile (TMUS) customers. (The Sun)

Apple (AAPL) iPhone 13 is going to be a modest upgrade. (WSJ)

Intel (INTC) looks to build new chip plants  in the U.S. and abroad. (WSJ)

Robinhood Snaps looks at plant based food and fake fish.

Index Moving Averages: 8/13 Close – The Confidence Score at 90% from 97%.  

Geopolitical:

The President receives the President’s Daily Brief [Note: Time not specified], Camp David

Fed Speakers

None of note but we could see impromptu appearances on media during the day which has been happening of late.

Economic:

August Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to fall to 26 from 43.

M&A Activity:

Hyatt Hotels (H) buys Apple Leisure Group for $2.7 billion.

Meeting & Conferences of Note:

Sellside Conferences: Credit Suisse Taiwan Non-Tech Day (8/16-18) JP Morgan Brazil Consumer and Healthcare Checkup 2021 (8/16-20)

Company Meetings:  EBR (Investor/Analyst Meeting) VRSSF NNOX (Update)

Conferences of Note:

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

Friday Recs

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