The Daily Briefing For March 29th: Futures Lower As Margin Calls Hit Hedge Funds

by Geoff Garbacz | 03/29/2021 9:26 AM

Rebel Yell Morning Market Report

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The Daily Briefing For March 29th: Futures Lower As Margin Calls Hit Hedge Funds

Earnings Out After The Close Of Note:

Beats: none

Flat: none

Misses: none

Capital Raises:

IPOs Priced or News: Ajax I (AJAX) to merge with Cazoo to create a $7 billion business.

New SPACs launched:

Secondaries Priced:  of note.

Notes Priced of note: Noneof note.

Common Stock filings: NEXT EBON 0f note.

Selling Shareholders of note: ASLN EGLE of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings:EFC BTU R AQST OTLK LIZI USIO  HXL of note.

Convertible Offering & Notes Filed: Noneof note.

Note Offerings Filed:None of note.

Capital Raise Summary FromThe TradeXchange,bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close:

Trade Desk (TTD)  Chief Marketing Officer  Susan Vobejda to leave in June.

Stellantis (STLA) to close 5 North American plants as  result of global chip shortage.

Lockheed Martin (LMT) wins $2.8 billion Army contract.

Raytheon (RTX) wins $520 million Air Force contract.

Boeing (BA) resumes 87 Dreamliner deliveries. (WSJ)

Barron’s + on WBT HRB ID ADBE TUP +/- INTC. 

Dividend Increase: IVR

Split Announcement:

Raises Guidance:

Lowers Guidance:

Buyback Announcements: TME 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.

S&P 500 -16 Dow Jones Industrial Average -143 NASDAQ  -17 Russell 2000 -10  Fair values are mixed. Asia and Europe higher. VIX is at 21.85 from 22.21 this morning in futures. VIX closed at 18.86 from 19.81.

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 $131.83 from $131.75 with the yield at 1.657% from 1.674%.  Bitcoin $53,323 @ $1260  +2.40%.

Positive Sectors On Friday: Materials, Technology and Energy.

Negative Sectors On Friday: Communication Services of note.

One Month Winners: Industrials, Utilities and Consumer Defensive of note.

Three Month Winners: Energy, Financial and Industrials of note.

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

Twelve Month Winners:  Materials, Consumer Cyclical and Technology of note.

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

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

Today After the Close: SEER of note.

Tuesday Before the Open: BNTX, MKC, FDS, ASO, ANGO of note.

Earnings This Morning Of Note:

Beats: CALM +0.19.

Flat: none

Misses: none

Erlanger Research Advance/Decline Chart/Table –Updated through 3/26.  

Gap Ups & Down In Early Pre-Market:

Gap up: BRPA +40% KZIA +26% HGEN 23% AMPH +9% BLUE +8% EBON +^% TME +4% MAXR +4%

Gap down:-NMR -16% NEXT -13% CS -11% ASLN -3%

Notable Comments From Robinhood Morning Notes:

Amazon (AMZN) union vote ends.

March Unemploymentwill be released on Friday despite market being closed.

Rags & Mags: Highlighted Stories may be clicked through to the original story. 

Stocks Making The Biggest Moves – GS CS NMR    (CNBC)

Biggest Analyst Calls NFLX GPS GM GOOGL(CNBC)

5 Things To Know For Monday. (CNBC)

The container ship stuck in the Suez Canal has partially floated. (CNBC)

Credit Suisse (CS) and Nomura (NMR) take hit from U.S. hedge fund that defaulted on margin calls, that firm is not named yet. (CNBC)

Archagos Capital run by former Tiger Management analyst Bill Hwang was forced to liquidate positions in a variety of Asian media and tech stocks including VIAC, BIDU, ZIP and others. (CNBC)

Visa (V) to allow payment settlements using cryptocurrency. (CNBC)

Southwest Air (LUV) adds 100 orders for Boeing (BA) 737 MAX 7.

Lands’ End(LE) creates third party marketplace.

Current through 3/26 close. Overall confidence moves to 90% from 53%.

Bold means a change from prior day.

3/26 results.

Geopolitical:

The President and The Vice President receive the President’s Daily Brief, Oval Office, 9:50 a.m. EDT

Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 11:00 a.m. EDT

Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 12:30 p.m. EDT

The President and The Vice President receive a COVID-19 briefing, South Court Auditorium, 1:30 p.m. EDT

The President delivers remarks on the COVID-19 response and the state of vaccinations; The Vice President also attends, South Court Auditorium, 2:10 p.m. EDT

Economic:

None of note for Monday.

For the week Consumer Confidence, ADP Employment Report, Chicago PMI, Pending Home Sales, ISM Manufacturing Index and Construction Spending.

Meeting & Conferences of Note:

HGEN (Conference Call)

Sellside Conferences: HSBC West Coast Financials Conference. JP Morgan Napa Valley Forum.

Industry Conferences:

M&A Activity

Upgrades & Downgrades From Sellside Firms– For Up has to be a Buy. For a Down has to be a Sell or Underweight.

Today’s Recommendations: 

Friday’s Recommendations: 

 

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