The Daily Briefing For May 20th: Futures Struggling, Again

by Geoff Garbacz | 05/20/2021 8:16 AM

Rebel Yell Morning Market Report

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The Daily Briefing For May 20th: Futures Struggling, Again

Breaking News: Several Key Economic Numbers due out so pay attention at 8:30 a.m. EDT and 10:00 a.m. EDT.

Great Fact: 48.23% of US population has received one dose of a multi dose vaccine versus 47.99% prior update. 50% very soon!!

Earnings Of Note After The Close:

Beats: SCVL +1.62, BEKE +0.36, CPRT +0.31, LB +0.27, SNPS +0.17, KEYS +0.10, SQM +0.03, CSCO +0.01

Flat:  none

Misses: ZTO (0.20), GDS (0.06)

Capital Raises: 

IPOs Priced or News: (PCOR) priced at $67 above range of $60 to $65. (OTY) priced at $17 a share at high end of the range, $15 to $17.

New SPACs launched: 

Secondaries Priced:  SNCY LAD TIG of note.

Notes Priced of note:  None of note.

Common Stock filings: EZGO PSFE  SEEL 0f note.

Selling Shareholders of note: PSFE PXD SRNE  of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: ASXC PDCE 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:

NuVasive (NUVA) names Daniel Wolterman as Chairman of the Board.

Domino’s Pizza (DPZ) CFO Stuart Levy leaves , effective immediately.

Many American Society of Clinical Oncology (ASCO) presentations released including REGN BGNE AMGN LLY AVEO CGEM ONCT IMGN EXAS BPMC INCY AZN GILD IOVA MCRB GRCL ALPN RHHBY PBYI JNJ BMY SQZ STRO HARP VCYT RUBY SRRA SNY MYGN GH IMAB NXTC ADCT  CLVS

Sensei Biotherapeutics (SNSE) releases Phase I and II combination  Trial of SNS-301.

FDA expands refrigeration storage time for Pfizer (PFE) and BioNTech (BNTX) vaccine. Expands supply to EU by 1.8 billion.

Afterhours of note: ALLO +11% ONCT +11% ADAP +8% YMAB +7% DTIL +4% NVVE +4% SNSE +4%  and BDTX -16%  ALPN -7% SCVL -7% SEEL % GDS -7% CSCO -6%

Dividend Raises: KRNY COR  AFG (one time) WMS

Split Announcement:

Raises Guidance:  LB SNPS TCS WMS  

Mixed Guidance: CSCO CSIQ  HRL SCVL

Lowers Guidance: 

Buyback Announcements: ISTR WMS

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

S&P 500 -6 Dow Jones Industrial Average -104 NASDAQ -1  Russell 2000 -6  Fair values are lower except for the Russell 2000. Asia mixed and Europe higher. VIX is at 23.63 from 23.05 in futures. VIX closed at 22.18 from 21.34.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $132.17 from $132.27 with the yield at 1.664%  from 1.642%.  Bitcoin $40036 from $38643 and this morning at $1088.02 and 2.79%.

Wednesday’s Action – 5/19.  Equity indexes were lower after two days of buying.

Positive Sectors On Wednesday: Technology of note.

Negative Sectors On Wednesday: Energy, Industrials, Materials and Consumer Cyclical 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 AGAIN yesterday, Bonds higher, U.S. Dollar higher and Commodities lower ex Gold.

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

Today: AINV AMAT DECK PLUS FLO PANW ROST

Tomorrow: BAH BKE DE FL ROLL VFC

Earnings This Morning Of Note:

Beats: BJ +0.16 TGI +0.03 HRL +0.01

Flat:  none

Misses: WMS -0.11 CSIQ -0.03

Still to Report: 

Insider Purchases:

Below is the list of insider buys from yesterday and this morning. Note that as markets fall insider transactions are rising. Vistra (VST) looks to be the one name where shorts struggle, as such we like this as a long idea. Updated 5/19.

Erlanger Research Advance/Decline Chart/Table –Updated through 5/19.

Gap Ups & Down In Early Pre-Market:

Gap up: ONCT +10%, ADAP +9%, ALLO +8%, AFG +8%, DTIL +5%, SNSE +4%

Gap down: BDTX -17%, GDS -9%, BEKE -8%, SCVL -7%, CSCO -6%, SEEL -6%

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

Stocks making the biggest moves SPCE HRL BJ KSS WOOF CSCO LB SNPSSCVL COIN  (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Israeli and Hamas cease fire in the next day. (NYT)

Some Democrats not on board with inheritance tax. (Bloomberg)

President Biden in a speech at the U.S. Coast Guard Academy spoke about South China Sea and international waterways. (CNN)

Apple (AAPL) CEO  Tim Cook up tomorrow in Epic Trial.

Apollo co-founder Josh Harris to step aside as new management team moves complete.

ImmunityBio (IBRX) vaccine being considered as a booster shot. (Bloomberg)

Emergent BioSolutions (EBS) sees 100 million vaccines from Johnson & Johnson (JNJ) on hold. (NYT)

Index Moving Averages: 5/19 Close – The struggle continues.

Geopolitical:

The President receives the President’s Daily Brief, Oval Office, 9:30 a.m. EDT

Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EDT

The President signs the COVID-19 Hate Crimes Act into law; The President and The Vice President deliver remarks, East Room, 2:00 p.m. EDT

Federal Reserve Speakers:

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

Economic:

Weekly Jobless Claims  are due out at 8:30 a.m. EDT

May Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to 42 from 50.20.

April Leading Indicators are due out at 10:00 a.m. EDT and expected to stay at 10:00 a.m. EDT.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

M&A Activity

Meetings of Note:

Sellside Meeting: Needham Technology & Media Conference (5/17-20)  Morgan Stanley Life After Covid (5/18 -5/21) Citi Chemicals Conference (5/20-21) Cowen Oncology Summit (5/20-21) Sidoti Microcap Conference (5/19-20)

Company Meetings: MAS IART SYY PRLB PLT VMI (Investor Day)  DEO (Conference Call) VIRX JLL GEVO AGI IIVI  ( Webcast) SNAP (Company Event) OTLK (R&D Day) 

Industry Meetings:

Upgrades & Downgrades:

Wednesday’s Recommendations

 

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