The Daily Briefing For March 9th: Futures

Breaking News: 

Earnings Out After The Close Of Note:

Beats: BNFT +0.13, CASY +0.05, SFIX +0.01

Flat: none

Misses: NCMI (0.45), CSTL (0.12), GOCO (0.05)

 Capital Raises:

IPOs Priced or News: 

New SPACs launched: CF Finance Acquisition Corp to combine with View and trade under new symbol VIEW.

Secondaries Priced: SJW of note.

Notes Priced of note: EVBG of note.

Common Stock filings: CAE BGCP ITRI RMNI SFET SMSI  0f note.

Selling Shareholders of note:   of note.

Mixed Shelf Offerings:  CERC  of note.

Convertible Offering & Notes Filed: CDMO ITRI VCRA WHD of note.

Capital Raise Summary From The Trade Exchange ,bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close:

Peloton (PTON) to expand into Australia.

Honeywell (HON) awarded $480 million Army contract.

Ebix (EBIX) gets a noncompliance letter from NASDAQ and has until April 20th to respond.

Dividend Raises:

Split Announcement: 

Raises Guidance:

Lowers Guidance

Stock Buyback New Or Increase: MODV

Insider Buys: NWS FAST INSM KNSL TRNS CTHR EYEN FAST WEN DX (source The Trade Exchange)

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

S&P 500 +40 Dow Jones Industrial Average +111 NASDAQ +304 Russell 2000 +31. Fair values are mixed. Asia mixed and Europe higher. VIX is at 24.70 from 26.15 this morning in futures. VIX closed at 25.47 from 24.66 and the three month futures at 28.13 from 27.89.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $132.28 from $131.84  with the yield at 1.54% from 1.60%.  Bitcoin +$2,454 @ 54141.

Positive Sectors On Monday: Utilities, Financials and Industrials.

Negative Sectors On Monday: Technology, Communication Services and Consumer Cyclicals of note.

One Month Winners: Energy, Financials and Communication Services of note.

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

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

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

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

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

Today After the Close: MDB, OSH, PACW, HRB, ABM, AVAV of note.

Wednesday Before the Open: PDD, CPB, SINA, TUP, UNFI, GSKY, REVG, VRA, SCOR of note.

 Earnings This Morning Of Note:

Beats: PLCE +1.29, THO +0.80, PQG +0.49, CMD +0.29, DKS +0.12, SHC +0.02

Flat: none

Misses: NAV (0.82), XENT (0.22)

Still to Report: none

Erlanger Research Advance/Decline Chart/Table –Updated through 3/8. Breadth gained some traction on Friday but weakened on Monday.

 

Gap Ups & Down In Early Pre-Market:

Gap up:

NCTY +15.3%, SFT +14.1%, GME +13.8%, NK +11.7%, NVTA +8.9%, WISH +7.1%, CRMD +6.7%, SI +5.5%, DADA +5.5%, PTON +4.7%, TRQ +4.7%, CDMO +4.2%, ASX +3.5%

Gap down:

ACAD -36.7%, SFIX -24.2%, CSTL -6.1%, MGI -6%, RMNI -5.9%, GRBK -5.4%, CAE -4%,

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

Stocks Making The Biggest Moves DKS PTON SFIX  (CNBC)

House to pass Stimulus Bill either today or tomorrow with President Biden to sign soon after. (WSJ)

Coinbase could have a $90 billion valuation. (Bloomberg)

U.S. Airline passengers up to 1 million passengers a day. (Bloomberg)

BP may close a refinery in Western Australia. (Reuters)

China car sales hit 1.18 million units in February (WSJ)

Index Results

Current through 3/8 close. Overall confidence stays at 53%.

Bold means a change from prior day.

3/8 results.

Geopolitical:

The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:15 a.m. EST

The President visits a small business that has benefited from a Paycheck Protection Program loan, Location TBD, Washington D.C., 11:45 a.m. EST

Press Briefing by Press Secretary Jen Psaki and Deputy Director of the National Economic Council Bharat Ramamurti, James S. Brady Press Briefing Room, 1:30 p.m. EST

Federal Reserve Speakers Today:

Federal Reserve Dallas President Robert Kaplan speaks at 6:05 p.m. EST.

Economic:

NFIB Small Business Optimism was out at 6:00 a.m. EST and came in at 95.8 from 95.

3 Year Treasury Auction at 1:00 p.m. EST.

Weekly API Petroleum Institute data is due out at 4:30 p.m. EST.

Meetings, Sellside Conferences and Industry Conferences

CVX DKNG BL  BCOV SONO FTNT (Investor Meetings) IIVI  GWW (Conference Call) FTNT (Analyst Day)

Sellside Conferences: Deutsche Bank TMT Conference (3/8-10) Citi Global Property CEO Conference (3/8-10) UBS Global Consumer and Retail Conference (3/9-10) Wolfe Research FinTech Conference (3/9-11) RBC Global Financial Institutions Conference (3/9-10) Barclays Global Healthcare Conference (3/9-11) Truist Technology, Internet & Services Conference (3/9-10) Baird Vehicle Technology & Mobility Conference (3/9-10)  Bank of America Consumer & Retail Technology Conference (3/9-11) Goldman Sachs Chemical Intensity Days (3/9)

Industry Conferences: International Conference on Alzheimer’s & Parkinson’s Diseases (3/9-14)

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:

Monday Recommendations: