The Daily Briefing For June 7th: Futures Flat

by Geoff Garbacz | 06/07/2021 9:33 AM

Rebel Yell Morning Market Report

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The Daily Briefing For June 7th: Futures Flat

Breaking News:  Fly me to the moon- Amazon (AMZN) Founder Jeff Bezos to fly into space when Blue Origin launches travelers for space.

Earnings Of Note After The Close:

Beats: None

Flat:  None

Misses: None

Capital Raises: 

IPOs Priced or News: Filed INTA LZ.

New SPACs launched: None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings:  ADCT OPGN PIXY 0f note.

Selling Shareholders of note: AYLA TTWO EQOS ELYS  DUOT of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: O DSX AYLA ADCT ELYS GLT INPX PW UIHC  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:

Amgen (AMGN) presented overall survival results from Phase 2 CodeBreaK 100 study.

Other ASCO Announcements ALPN HCM IOVA KALV.

Lordstown Motors (RIDE) receives late filing notice of delinquency.

Timken (TMST) raises pricing by $50 per ton on all special bar quality products.

Royal Caribbean (RCL) to begin sailing from Florida and Texas ports in July and August.

Stamps.com (STMP) settles securities class action lawsuit with a cost of $66 to 77 million.

TD Ameritrade puts trading limits on AMC Entertainment (AMC). (Reuters)

Barron’s + on MGM EAT PSTH ABTX PNFP PNC SIVB and +/- on AMC ZM.

Dividend Increases: 

Dividend Decreases: NHI

Higher Guidance: 

Mixed Guidance: 

Lower Guidance: 

Buyback Announcements: CAR 

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

S&P 500 -2 Dow Jones Industrial Average +35 NASDAQ -29 Russell 2000 -2.  Fair values are lower today. Asia mixed and Europe higher. VIX is at 18.15 from 19.20 in futures. VIX closed at 16.42 from 18.04 .

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.06 from $131.61 with the yield at from 1.625%.  Bitcoin $36,395.47 from $35,878.01 Friday morning up  $609.34 and +1.70%.

Friday’s Action – 6/4.  Equity indexes were higher into the weekend.

Positive Sectors On Friday: Technology, Communication Services and Materials of note.

Negative Sectors On Friday: None 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 lower, Bonds lower, U.S. Dollar higher and Commodities lower ex crude oil.

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

Today After the Close: MRVL, COUP, MTN, HQY, SFIX, LMNX, REVG of note.

Tuesday Before the Open: THO, NAV, ASO, MOMO of note.

Earnings This Morning Of Note:

Beats: GIII +0.38

Flat:  none

Misses: none

Still to Report: none

Insider Purchases:

Below is the list of insider buys from  Wednesday 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 ETNB. We note that DXC  has above average short selling but no history.  Updated 6/4

Erlanger Research Advance/Decline Chart/Table –Updated through 6/4.

Gap Ups & Down In Early Pre-Market:

Gap up: USCR +27% CDXC +17%, MNOV +11%, ADCT +7%, UIHC +6%

Gap down: ELYS -6%

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

World markets enter the week almost asleep.

Stocks making the biggest moves AMZN USCR VMC GIII (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Treasury Secretary Yellen says over the weekend that higher rates are good for the economy. (Bloomberg)

Senator Joe Manchin (D -WV) will vote against Voting Rights Bill  or any attempt to eliminate the filibuster. (NYT)

Robinhood looks at the American Dream and is it still alive? What’s up for the week.

Index Moving Averages: 6/1 Close – The Confidence Score is at 100%.

Geopolitical:

The President receives the President’s Daily Brief, The White House, 9:50 a.m. EST

Press Briefing by Press Secretary Jen Psaki and National Security Advisor Jake Sullivan, 12:30 p.m. EST

The President meets with H.E. Jens Stoltenberg, Secretary General of the North Atlantic Treaty Organization, Oval Office, 4:30 p.m. EST

Federal Reserve Speakers: None of note today.

Economic:

April Consumer Credit is due out at 3:00 p.m. EDT and is expected to come in at $22.08 billion from $25.88 billion.

M&A Activity

Vulcan Materials (VMC) to buy U.S. Concrete (USCR) for $74 a share.

Blackstone (BX) and Carlyle Group (CG) to buy Medline Industries for $34 billion.

Meetings of Note:

Sellside Conferences: Deutsche Bank dbAccess Global Consumer Services (6/7-6/10) Evercore ISI TMT Conference (6/7-9) Goldman Sachs ESG Conference (6/7) Well Fargo Media and Telco: 5G & Streaming & Beyond (6/7)

Company Meetings: CHRS HLIT (Investor Meetings) TYL (Update) IMAB NVO (Conference Call) MRK  REGN CCCC (ASCO Event)

Industry Meetings: American Society of Clinical Oncologists (ASCO) Meetings (6/4-8) Apple (AAPL) Developers Conference (6/7-11)

Upgrades & Downgrades:

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