The Daily Briefing For July 21st: Future Up Modestly
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The Daily Briefing For July 21st: Future Up Modestly
Earnings After The Close:
Beats: CMG +0.97, ISRG +0.86, PNFP +0.24, UCBI +0.10, RXN +0.08, FULT +0.06, XM +0.06, HOPE +0.05, UAL +0.05, CNI +0.01
Flat: AIR +0.00
Misses: IBKR (0.28), NFLX (0.19), SNBR (0.14), HWC (0.14), AGR (0.06)
IPOs Priced or News: VTEX priced at $19 above range of $15 to $17. Paycor (PYCR) priced at $23 above $18 to $21 range.
New SPACs launched: Empower Ltd.(EMPW) will combine with Holley, expected to close today with symbol HLLY.
Secondaries Priced: CYTK SBNY NSA of note.
Notes Priced of note: None of note.
Common Stock filings: FOUR NTRA SBNY ADIL ATNF KRUS RETO TRKA XFLT of note.
Selling Shareholders of note: ATNF EVGO of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: FOUR 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:
Netflix (NFLX) net adds were 1.54 million and guides to Q3 3.5 million net adds.
VICI Properties (VICI) enters into strategic arrangement with Great Wolf Resorts to provide financing for construction and development of new resorts.
Johnson & Johnson (JNJ) vaccine less effective against Delta variant according to a study, no peer review however.
After Hours + LE +8% CMG +4% XM +4% and – SNBR -10% SMSI -4% NSA -4%.
Higher Guidance: NFLX LE
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +8 Dow Jones Industrial Average +135 NASDAQ -18 Russell 2000 +17.60. Fair values are mixed. Asia mixed and Europe higher. VIX is at 21.30 in futures. VIX closed at $19.73. Gold lower, silver higher and copper lower. WTI Crude Oil higher and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $134.52 from $134.84 with yields at 1.24% from 1.175% yesterday. Bitcoin at $31592 up +$1765 or +5.92%.
Tuesday’s Action – 7/20 Close.
Positive Sectors On Tuesday: All lead by Industrials, Real Estate and Financials of note.
Negative Sectors On Tuesday: None 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, Bonds lower, U.S. Dollar dollar higher and Commodities were mixed. Updated 7/20 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: TXN, CCI, CSX, KMI, LVS, DFS, EFX, ICLR, WHR, GGG, GL, SEIC, REXR, OMF, THC, FR, SLM, LSTR, SLG, VMI, IIPR, RLI of note.
Thursday Before the Open: ABT, T, DHR, UNP, BX, MMC, ABB, BIIB, FCX, NEM, DOW, AEP, DHI, LUV, NUE, FITB, POOL, DPZ, GPC, DGX, AAL, ALLE, SNA, WSO, CLF, EWBC, RS, ALK, CROX of note.
Earnings of Note This Morning:
Beats: LAD +4.95, CMA +0.72, ANTM +0.69, SAP +0.58, IPG +0.27, HOG +0.23, JNJ +0.19, NDAQ +0.16, FCFS +0.14, KO +0.12, NVS +0.11, VZ +0.07, ASML +0.03, NTRS +0.03, MKTX +0.01
Flat: RCI +0.00
Misses: HCSG (0.16), MTB (0.09), BKR (0.06)
Still to Report: BOKF, KNX NVR, STX
Insider Purchases: No stocks this morning with heavy short selling. Only AIRT saw insider buying, no shorts present.
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 7/21
Erlanger Research Advance/Decline Chart –Updated through 7/20 close. The Market Daily AD Line had a small dead cat bounce yesterday, more is needed.
Gap Ups & Down In Early Pre-Market:
Gap up: XM +6.9%, BLUE +5.2%, SDC +5%, ISRG +4.6%, CMG +4.3%, LE +4.3%, SGFY +4.1%, LAD +4.1%, G +3.8%, ALBO +3.4%, UCBI +3.4%, ASML +2.9%.
Gap down: SNBR -11%, FOUR -6.2%, SMSI -4.4%, NSA -3.9%, SAP -2.9%.
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Local health officials want to slow spread of the Delta variant by promoting vaccines. (WSJ)
Senate Republicans to block today’s vote on bipartisan infrastructure deal because legislation not drafted yet.
Apple (AAPL) iPhone factory in China was impacted by flooding. (Reuters)
Covid Stats: Cases 34,830 versus 20,473 a week ago. 19,251 current hospitalizations versus 14,308 a week ago. (CDC)
Robinhood looks at the Moderna (MRNA) which is now in the S&P 500. Peloton (PTON) moves into video games.
Index Moving Averages: 7/19 Close – The Confidence Score moves to 30% from 60%.
The President receives the President’s Daily Brief, Oval Office, 10:30 a.m. EST
The President departs the White House en route Joint Base Andrews, en route Hebron, Kentucky, 2:25 p.m. EST
The President arrives in Hebron, Kentucky, Cincinnati/Northern Kentucky International Airport, 4:10 p.m. EST
The President discusses how his Build Back Better agenda will create good-paying union jobs, IBEW / NECA Electrical Training Center, Cincinnati, OH, 5:40 p.m. EST
The President participates in a town hall hosted by CNN, Mount St. Joseph University, Cincinnati, OH, 8:00 p.m. EST
The President departs Hebron, Kentucky en route Joint Base Andrews, 10:00 p.m. EST
The President returns to the White House, South Lawn, 11:35 p.m. EST
Senate Procedural Vote on $1.2 trillion bipartisan infrastructure bill will be denied by the Republicans.
None of note today.
Weekly MBA Mortgage Applications fell -4%.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Meetings of Note:
Sellside Conferences: None of note
Company Meetings: BOX AVGO (Sellside Fireside Chat) ALBO (Conference Call)
Industry Meetings: Disease Prevention Control Summit (7/20-21)
Upgrades & Downgrades: Todays recs see 11 upgrades and no downgrades.