The Daily Briefing For May 25th: Futures Continue To Rally

by Geoff Garbacz | 05/25/2021 9:08 AM

Rebel Yell Morning Market Report

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The Daily Briefing For May 25th: Futures Continue To Rally

Breaking News: 

Earnings Of Note After The Close:

Beats: NDSN +0.48

Flat:  None

Misses: RIDE (0.43), API (0.13)

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: REXR of note.

Notes Priced of note:  AM of note.

Common Stock filings: REXR ACHV GLOB TLMD BCYC WOOF CLNN LYRA NAVB 0f note.

Selling Shareholders of note: OSH AZEK THRY YRTA EAF   of note.

Private Placement of Public Entity (PIPE):

Mixed Shelf Offerings: BKR YTRA DSS MKD 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:

Scholar Rock (SRRK) gets Fast Track designation for treatment of Spinal Muscular Atrophy.

Carpenter Tech (CRS) raises specialty alloy products by 6-9%.

Bally’s (BALY) enters mobile sports betting market in Colorado.

Square (SQ) to offer checking and savings accounts. (Bloomberg)

China to likely ban all bitcoin mining very soon. (ArsTechnica)

Joint Corp (JYNT) into the S&P 600 as of 5/27.

Lordstown Motors (RIDE) CEO say company will not be sold but may take on a strategic investor.

Guides Higher: NDSN API

Buyback Announcements: 

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

S&P 500 +15 Dow Jones Industrial Average +97 NASDAQ +76  Russell 2000 +7.75  Fair values are mixed today. Asia  and Europe higher. VIX is at 20.65 from 21.55 in futures. VIX closed at 20.15 from 20.67.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $132.70 from $132.59 with the yield at 1.596% from 1.61%.  Bitcoin $36751 from $38432.95 yesterday and this morning at $2013.99 and -5.19%.

Monday’s Action – 5/21.  Equity indexes were lower after two days of buying.

Positive Sectors On Friday: Financials, Utilities and Industrials of note.

Negative Sectors On Friday: Consumer Cyclical, Technology and Communication Services 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 on Monday, Bonds higher, U.S. Dollar lower and Commodities higher as well.

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

Today After the Close: INTU, A, ZS, HEI, TOL, JWN, URBN, RAMP, SKY, RRGB of note.

Wednesday Before the Open: BMO, LI, CPRI, DKS, ANF, CMCO, PLAB of note.

Earnings This Morning Of Note:

Beats: AZO +8.10, MMYT +0.23, VSAT +0.09

Flat:  none

Misses: DY (0.27)

Still to Report: CBRL

Insider Purchases:

Below is the list of insider buys from yesterday and this morning sorted by level of short selling. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. However, today we have one that interests us with no short history, CLNN. The shorts have made -17.42% and this is an insider buy. As such we like this as a long idea. Updated 5/25.

Erlanger Research Advance/Decline Chart/Table –Updated through 5/24.

Gap Ups & Down In Early Pre-Market:

Gap up: JYNT +11%, TLSA +8%, TLC +7%, TIGR +5%, HYFM +5%, SRRK +5%, NDSN +4%, CRMT +4%, CONE +4%

Gap down:  RIDE -16%, TLMD -10%, AZEK -4%, OSH -4%

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

Stocks making the biggest moves  (CNBC)

5 Things To Know Before Trading Starts. (CNBC)

Republicans counter Biden on infrastructure and number is $1 trillion. (Bloomberg)

Federal Reserve speakers are talking down inflation. (Bloomberg)

Semiconductor Bill could see 7-10 new factories built. (Reuters)

Florida Governor Ron Desantis  to fine social media companies $250,000 a day when they ban state politicians. (NBC News)

Texas and 24 other states move to carrying guns without a license. (WSJ)

Tesla (TSLA) CEO Elon Musk tweets that Bitcoin miners will use renewable energy, calls promising. (Twitter)

Boeing (BA) gets order for 14 737 Max Jets.

Index Moving Averages: 5/24 Close – The color of money is green not red. We are back to mostly green.

Geopolitical:

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

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

The President and The Vice President meet with the family of George Floyd on the anniversary of his death, Oval Office, 1:30 p.m. EDT

Press Briefing by White House COVID-19 Response Team and public health officials, 1:30 p.m. EDT

The President departs the White House en route Wilmington, Delaware, 5:55 p.m. EDT

The President arrives in Wilmington, Delaware, 6:50 p.m. EDT

The President departs Wilmington, Delaware en route the White House, 8:10 p.m. EDT

The President returns to the White House, 9:05 p.m. EDT

Federal Reserve Speakers:

Federal Reserve Chicago President Charles Evans spoke at 7:30 a.m. EDT.

Federal Reserve Governor Randall Quarles speaks at 10:00 a.m. EDT.

Economic:

April Housing Starts are due out at 8:30 a.m. EDT and is expected to fall to 1,715,000 from 1,739,000.

Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.

M&A Activity

Hydrofarm Holdings (HYFM) to buy House & Garden for $125 million.

American Assets Trust (AAT) to buy Eastgate Office Park for $125 million.

Meetings of Note:

Sellside Meeting:

Company Meetings:  KRNT AYX (Investor Meetings) (Conference Call)

Industry Meetings: World Geothermal Congress (5/21-5/26)

Upgrades & Downgrades:

Monday’s Recommendations

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