The Daily Briefing For June 11th: S&P 500 Hits All Time High

by Geoff Garbacz | 06/11/2021 9:02 AM

Rebel Yell Morning Market Report

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The Daily Briefing For June 11th: S&P 500 Hits All Time High

Breaking News:

Earnings Of Note After The Close:

Beats: PLAY +0.56, CHWY +0.11

Flat:  none

Misses: none

Capital Raises: 

IPOs Priced or News: Didi Chuxing, Uber of China, makes IPO documents available, will begin trading in July. 1stdibs.com (DIBS) priced at $20 a share with range of $18 to $21.

New SPACs launched: Thunder Bridge Acquisition merges with Indie Semiconductor and begins trading today under INDI.

Secondaries Priced: LTHM REVG of note.

Notes Priced of note:   CLVT RLJ of note.

Common Stock filings: ADC ABCL AEHL  JFIN  0f note.

Selling Shareholders of note:  None of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings:  WY DXLG  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:

Third FDA advisory panel member quits panel after Biogen (BIIB) ALzheimer’s drug approved.

Vertex Pharmaceutical (VRTX) hits endpoint in Phase II Study on Alpha 1 Antritrypsin Deficiency.

St. Joe Company (JOE) to create a new apartment management company.

American Airlines (AAL) invests in Vertical Aerospace.

MGM Resorts (MGM) forms partnership with Washington Nationals.

Lattice Semiconductor (LSCC) announces that Infineon using Lattice FPGA in its video and audio capture card reference design.

Dividend Increases: UHAL (special) CVI (special) RFP (special)  RWT 

Stock Split: 

Higher Guidance: PLAY

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: 

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 lower today. Asia and Europe mixed. VIX is at 19.25 from 20.15 in futures. VIX closed at 16.10 from 17.07.

Gold lower with silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $133.06 from $132.66 with the yield at from 1.487%.  Bitcoin from $34,958 yesterday morning up $2109 and +6.42%.

Thursday’s Action – 6/10.  

Positive Sectors On Thursday: Healthcare, Communication Services and Technology of note.

Negative Sectors On Thursday: Financials and Industrials of note.

One Month Winners: Energy, Financials, Materials and Industrials  of note.

Three Month Winners: Energy, Materials, Industrials and Financials of note.

Six Month Winners: Energy, Financials, Materials and Industrials of note.

Twelve Month Winners: Materials, Industrials, Financials and Consumer Cyclicals of note.

Year to Date: Energy, Communication Services, Financials and Materials of note.

Stocks were higher ex the Russell, Bonds higher, U.S. Dollar lower and Commodities higher. Updated 6/10 Close.

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

Today After the Close: none of note.

Monday Before the Open: none of note.

Earnings This Morning Of Note:

Beats: none

Flat:  none

Misses: none

Still to Report: none

Insider Purchases:

Below is the list of insider buys from  Tuesday morning and this morning sorted by day. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Insider buying and dumb short selling exists in NLTX AMRN but so far shorts are making money in both names. We note that CYCN  has above average short selling but no history.  Updated 6/10

Erlanger Research Advance/Decline Chart/Table –Updated through 6/10. Have we stalled at new highs?

Gap Ups & Down In Early Pre-Market:

Gap up: PGEN +41%, AMEH +12%, RFP +8%, PLAY +6%, TYME +4%, VCTR +4%, LSCC +4%, CVI +4%

Gap down: VRTX -13%, ELY -4%, SNOW -3%, ADC -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   CLOV VRTX SNOW CHWY PLAY RCL(CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Covid-19 sees cases, deaths and hospitalizations rise week over week.

Republican and Democratic senators agreed on outline for infrastructure spending without tax hikes. (CNBC)

NATO summit begins on Monday. (Reuters)

G-7 leaders to push for minimum global tax. May direct funds of $100 billion to poorer nations.(CNBC) (Bloomberg)

Clover Health (CLOV) CEO embroiled in overcharging scandal. (NY Post)

Robinhood Snacks looks at “buy now, pay later” firms. Tech companies bet on remote work, the hologram is coming.

Index Moving Averages: 6/10 Close – The Confidence Score is at 100%.

Geopolitical:

The President receives the President’s Daily Brief 7:15 a.m. EST (12:15 PM Local), Tregenna Castle Resort, St. Ives, England, United Kingdom

The President departs St. Ives en route Carbis Bay, 8:55 a.m. EST (1:55 PM Local)

The President and The First Lady greet The Right Honorable Boris Johnson, Prime Minister of the United Kingdom of Great Britain and Northern Ireland, and Mrs. Carrie Johnson, 9:10 a.m. EST (2:10 PM Local)

The President participates in a family photo with other G7 leaders, 9:20 a.m. EST (2:20 PM Local)

The President attends G7 Summit Session 1, 9:45 a.m. EST (2:45 PM Local)

The President departs Carbis Bay en route St. Ives, 11:25 a.m. EST (4:25 PM Local)

The President arrives in St. Ives, 11:30 a.m. EST (4:30 PM Local)

The President and The First Lady depart St. Ives en route Bodelva, Cornwall, United Kingdom, 12:40 p.m. EST (5:40 PM Local)

The President and The First Lady arrive in Bodelva, 1:00 p.m. EST (6:00 PM Local)

The President and The First Lady participate in a reception, family photo, and dinner with other G7 leaders and the Royal Family, 1:15 p.m. EST (6:15 PM Local)

The President and The First Lady depart Bodelva en route St. Ives, 4:10 p.m. EST (9:10 PM Local)

The President and The First Lady arrive in St. Ives, 4:30 p.m. EST (9:30 PM Local)

Federal Reserve Speakers: None of note today.

Economic:

June University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 83.5 from 82.8.

Baker Hughes Rig Count at 1:00 p.m. EDT.

M&A Activity

Meetings of Note:

Sellside Conferences: Goldman Sachs Global Healthcare Conference (6/8-11) Bank of America Global Technology Conference (6/8-6/15)

Company Meetings: FMTX (Investor Day)   (Webinar) FDX APTO (Update) PTGX XFOR (Conference Call) 

Industry Meetings:  Apple (AAPL) Developers Conference (6/7-11)

Upgrades & Downgrades:

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