The Daily Briefing For August 19th: Futures Ugly

by Geoff Garbacz | 08/19/2021 8:53 AM

Rebel Yell Morning Market Report

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The Daily Briefing For August 19th: Futures Ugly

Earnings Out After The Close:

Beats: BBWI +0.57, ZTO +0.32, KEYS +0.10, SPTN +0.05, SNPS +0.03, NVDA +0.02, CSCO +0.01, DLO +0.01

Flat: none

Misses: HOOD (1.90), RRGB (0.22)

Capital Raises: 

IPOs Priced or News: 

New SPACs launched:

Secondaries Priced:  None of note.

Notes Priced of note:  None  of note.

Common Stock filings:  VRRM of note.

Selling Shareholders of note: None of note.

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

Mixed Shelf Offerings:  APPN 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:

Robinhood (HOOD) sees seasonal headwinds and lower trading activity across the industry in Q3.

President Biden recommended booster shots in a press conference even though the FDA and CDC have not endorsed. He refused to answer questions on Afghanistan.

NCR Corp (NCR) names Owen Sullivan as President.

Wells Fargo (WFC) reverses decision to shutter personal lines of credit for its customers.

Cisco (CSCO) sees supply challenges through the first half of fiscal year 2022.

After Hours + DLO +20% LQDA +9% PRTK +4% BBWI +4%  and - HOOD -8% RRGB -8% VSCO -7%

Dividend Increases: WH WGO

Stock Split:

Higher Guidance: BBWI NVDA SNPS (After the Close) BILI KSS M WOOF TPR (This Morning)

Mixed Guidance: EL

Lower Guidance:

Buyback Announcements: EPAY

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

S&P 500 -34 Dow Jones Industrial Average -308  NASDAQ -91 Russell 2000 -35.  Fair values are mixed. Asia  and Europe lower. VIX is at 22.65 from 20.30 in futures. VIX closed at 21.57 from 17.91. Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $134.45 from $134.20  with yields at 1.243% from 1.27% yesterday morning. Bitcoin at $44,450 from $44,876  yesterday morning, trading at -$538 or -1.20%.

Wednesday’s Action – 8/18 Close.  

Positive Sectors On Wednesday: Consumer Cyclical of note.

Negative Sectors On Wednesday: Materials, Energy and Consumer Defensive 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 lower, Bonds were higher, U.S. Dollar flat and Commodities lower ex Gold. Updated 8/18 Close.

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

Today After the Close: AMAT, ROST, TLND, NUVB, ATGE of note.

Friday Before the Open: DE, UI, FL, UBSI of note.

Earnings of Note This Morning:

Beats: KSS +1.22, M +1.11, BILI +0.69, EL +0.28, BJ +0.16, TPR +0.05, WOOF +0.05, PFGC +0.02

Flat: none

Misses: BZUN (0.25)

Still to Report: MSGS

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, BMTX TRNSUpdated 8/17

Erlanger Research Advance/Decline Chart –Updated through 8/18 close. The Daily A/D Line hit a new low going back to early February.

Gap Ups & Down In Early Pre-Market:

Gap up: CHRS +20%, DLO +20%, LQDA +9%, CFMS +6%, SNPS +5%, BBWI +5%, DIBS +5%

Gap down: HOOD -12%, RRGB -10%, VSCO -9%, YY -8%, EDU -6%, BZUN -5%, BILI -4%, APPN -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 M KSS TPR WOOF BJ CSCO BBWI VSCO TM. (CNBC)

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

Covid-19 Data sees 141,893 cases versus 132,384 cases. 74,602 hospitalizations versus 59,172.  Deaths 822 versus 664.

Taliban declares country an "Islamic Emirate". (NYT)

China looks to another round of regulations. (Bloomberg)

Some health experts concerned about booster shots as not vetted by FDA or CDC. (Bloomberg)

TAL Education (TAL) and New Oriental Education & Technology (EDU) get update on regulatory standards in Beijing.

Ford (F) to close Kansas City assembly plant for one week due to chip shortages. (Reuters)

Nvidia (NVDA) deal for Arm Holdings (ARMH) will take more than 18 months. (FT)

Robinhood Snaps look at Tilray (TLRY) purchases a minority stake in MedMen. Chinese Government takes a 1% stake in TikTok and gets a board seat.

Moving Average Update

Score at 33% from 53%.

Geopolitical:

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

The President and The Vice President meet with their national security team to hear intelligence, security, and diplomatic updates on the evolving situation in Afghanistan, Situation Room, 10:00 a.m. EST

Fed Speakers

Economic:

Weekly Jobless Claims are due out at 8:30 a.m. EDT. Hit 348,000 a pandemic low.

July Leading Indicators is due out at 10:00 a.m. EDT and is expected to come in at 0.8% from 0.7% last month.

July Philadelphia Fed Index is due out at 8:30 a.m. EDT and are expected to rise to 24 from 21.09.

Crude Oil Inventories are due out at 10:30 a.m. EDT

M&A Activity:

Meeting & Conferences of Note:

Sellside Conferences:  JP Morgan Brazil Consumer and Healthcare Checkup 2021 (8/16-20) UBS Kohler Mid-West Utilities Conference (8/19)

Company Meetings:  SIRC UHAL FRPT ED  (Investor/Analyst Meeting) FATE (Update)

Conferences of Note:  Society for Vascular Surgery Annual Meeting (8/18-21)

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

Wednesday Recs

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