The Daily Briefing For July 20th: Futures Rebounding Today

by Geoff Garbacz | 07/20/2021 8:54 AM

Rebel Yell Morning Market Report

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The Daily Briefing For July 20th: Futures Rebounding Today

Breaking News: Jeff Bezos will enter space soon as his Blue Origin is to take off shortly.

Earnings After The Close:

Beats: ZION +0.82, CCK +0.36, WTFC +0.10, ELS +0.06, IBM +0.04, JBHT +0.04, STLD +0.03, FNB +0.02

Flat:  None

Misses: PPG (0.25)

Capital Raises: 

IPOs Priced or News: None of note.

New SPACs launched: Empower Ltd.(EMPW) will combine with Holley, expected to close today with symbol HLLY.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings: MYPS CYTK CEMI CLVR BBI of note.

Selling Shareholders of note: MYPS of note.

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

Mixed Shelf Offerings:  None 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:

MarketAxess (MKTX) CFO Tony DeLise steps down and replaced by Christopher Gerosa.

Rapid7 (RPD) buys IntSights Cyber Intelligence for $335 million.

Snap (SNAP) buys AR shopping company Vertebrae.

SPX Flow (FLOW) rejects offer from Ingersoll Rand (IR) at $85 a share.

After Hours +PLXP +13% AMRX +8%  + CCK +5% IBM +3%  and -ARDX -77% PPG -6% STLD -2%.

Dividend Increases: 

Stock Split:

Higher Guidance: 

Mixed Guidance:

Lower Guidance:

Buyback Announcements: CB SIRI 

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

S&P 500 + Dow Jones Industrial Average +  NASDAQ + Russell 2000 +.  Fair values are mixed. Asia lower and Europe higher. VIX is at 19.80 from 20 in futures. VIX closed at $17.01 from $16.33. Gold, silver and copper lower. WTI Crude Oil higher and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at$134.84 from $134.84 with yields at 1.175% from 1.22%  on Monday. Bitcoin at  $31101 down -571 or -1.80%.

Monday’s Action – 7/19 Close.  

Positive Sectors On Monday: None of note.

Negative Sectors On Monday: Energy, Financials, Materials 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 lower, Bonds higher, U.S. Dollar dollar higher and Commodities were mixed. Updated 7/19 Close.

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

Today After the Close: NFLX, ISRG, CNI, CMG, IBKR, XM, UAL, AGR, PNFP, PACW, HWC, UCBI, SNBR, FULT, HOPE, AIR of note.

Wednesday Before the Open: JNJ, ASML, KO, VZ, NVS, SAP, ANTM, NDAQ, RCI, NTRS, BKR, STX, NVR, MTB, MKTX, IPG, LAD, CMA of note.

Earnings of Note This Morning:

Beats: HCA +1.20, TRV +1.07, ALLY +0.83, SYF +0.79, MAN +0.61, PACW +0.54, SBNY +0.44, CFG +0.33, SI +0.29, OMC +0.24, DOV +0.22, KEY +0.18, SNV +0.18, FMBI +0.08, IRDM +0.07, HAL +0.03, PM +0.02, ONB +0.01

Flat:  UBS +0.00

Misses: none

Still to Report: BMI, GATX, NEOG

Insider Purchases:  No stocks this morning with heavy short selling.

Above is the list of insider buys from this morning and is sorted by Erlanger Volume Swing (EVS). The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”.  None of note with heavy short selling. Updated 7/20

Erlanger Research Advance/Decline Chart –Updated through 7/19 close.  The Market Daily AD Line has dropped to February and is about to take out the January low.

Gap Ups & Down In Early Pre-Market:

Gap up: PLXP +8%, CLVR +6%, AMRX +4%, CCK +4%, IBM +4%, FLOW +4%, EXK +4%, UBS +3%, CYTK +3%

Gap down: ARDX -70%, PPG -6%, RCUS -5%

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)

Covid Stats: Cases 7,156 versus 4,035 a week ago. 16,974 current hospitalizations versus 13,965 a week ago. (CDC)

Democrats to put tariffs on steel, natural gas, petroleum and coal in the Infrastructure Bill. (Reuters)

New York City will not reinstate mask mandate. (NYT)

Las Vegas casinos will not require masks for gamblers but two casinos put mask mandate on workers. (Eater Vegas)

Robinhood looks at the correction underway. Reviews Tractor Supply Co. (TSCO) and how it became the Peloton (PTON) of rural America.

Index Moving Averages: 7/19 Close – The Confidence Score moves to 30% from 60%.  

Geopolitical:

The President receives the President’s Daily Brief, 9:15 a.m. EST

The President welcomes the Tampa Bay Buccaneers to the White House to honor the team for their Super Bowl LV Championship; The Second Gentleman also attends, South Lawn, 11:15 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 11:45 a.m. EST

The President holds a Cabinet meeting to mark six months in officeThe Vice President also attends, Cabinet Room, 3:15 p.m. EST

Fed Speakers

None of note today.

Economic:

June Housing Starts are due out at 8:30 a.m. EDT and came in last month at 1,572,000 and is expected to come in at 1,580,000.

API Petroleum Institute Data is due out at 4:30 p.m. EDT.

M&A Activity:

NASDAQ (NDAQ) to partner with Goldman Sachs (GS) and Morgan Stanley (MS) in spin out of marketplace. (WSJ)

Meetings of Note:

Sellside Conferences: None of note

Company Meetings:  LNT (Investor) CYAD (R&D Day) JAZZ LMST (Webcast) SCS (Sellside Fireside Chat) AUY (Conference Call)

Industry Meetings: Disease Prevention Control Summit (7/20-21)

Upgrades & Downgrades: Todays recs see 8 upgrades and 2 downgrades.

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