The Daily Briefing For May 6th: Futures Mixed

by Geoff Garbacz | 05/06/2021 8:53 AM

Rebel Yell Morning Market Report

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The Daily Briefing For May 6th: Futures Mixed

Breaking News: Weekly Jobless Claims came in at 498,000 versus estimates of 527,000.

Fun Fact: Jessica Alba’s creation Honest Company (HNST) went public yesterday and rose 44%.

Not A Fun Fact: India continues to see Covid-19 spiral out of control and could become a global issue.

Earnings Of Note After The Close:

Beats: ALL +2.32, ECPG +0.88, BKNG +0.81, MET +0.76, RGR +0.72, XEC +0.71, PDCE +0.70, APA +0.64, UBER +0.49, FICO +0.48, LNC +0.36, KLIC +0.35, FOXA +0.34, ALB +0.31, QRVO +0.31, ANSS +0.29, BAND +0.29, ATO +0.28, UGI +0.27, SIMO +0.25, CCRN +0.24, NVST +0.23, ARNA +0.23, MRO +0.22, GIL +0.21, PLMR +0.21, PYPL +0.21, RCII +0.21, NUS +0.20, CW +0.20, UPLD +0.20, ARLO +0.19, SRPT +0.19, EZPW +0.18, TXG +0.17, EPR +0.17, STAA +0.16, TWLO +0.15, PRIM +0.15, ACAD +0.15, CF +0.14, FRT +0.14, LHCG +0.14, CDNA +0.13, PRI +0.12, ETSY +0.12, ADPT +0.11, ORCC +0.11, TRMB +0.11, EQH +0.10, GKOS +0.10, MDU +0.10, VGR +0.10, ADTN +0.09, BFAM +0.09, FLT +0.09, RSG +0.08, LESL +0.08, SJI +0.07, LCI +0.07, RLJ +0.07, TNDM +0.07, WTRG +0.07, CPA +0.06, NVRO +0.06, UNM +0.06, FNV +0.06, QLYS +0.06, LOPE +0.05, HUBS +0.05, CXW +0.05, LUMN +0.05, MFC +0.05, SKT +0.04, QNST +0.04, CNDT +0.04, CSGS +0.04, CTSH +0.03, DGII +0.03, PLYA +0.03, SRC +0.03, EQT +0.03, VAPO +0.03, MTG +0.02, RGNX +0.02, RGLD +0.02, INSG +0.02, OSUR +0.02, QTWO +0.02, HPP +0.02, FMC +0.01, HUBG +0.01, NUVA +0.01, ORA +0.01, SLF +0.01, PING +0.01, WHD +0.01, CDAY +0.01, KTOS +0.01

 Flat:  BE +0.00, HR +0.00, RKT +0.00, WW +0.00, ZIXI +0.00

 Misses: CENX (1.17), GDDY (1.10), MELI (0.76), TLND (0.47), KW (0.32), AEL (0.30), NBIX (0.29), GBT (0.29), ROOT (0.28), TTGT (0.27), VAC (0.22), ADT (0.21), DCP (0.21), CCMP (0.20), SUPN (0.14), TPTX (0.14), RUN (0.14), CUB (0.12), ACCD (0.12), ZNGA (0.11), ATSG (0.10), GDOT (0.09), TWO (0.07), PETQ (0.06), MTW (0.06), FATE (0.05), KRO (0.05), HCC (0.04), RDFN (0.03), BLUE (0.02), RPT (0.01), PRA (0.01), FSLY (0.01), RYN (0.01)

Capital Raises:

IPOs Priced or News: None of note.

New SPACs launched: None of note.

Secondaries Priced: ASO AMT ALGT  of note.

Notes Priced of note:  HROW of note.

Common Stock filings: ALGT JRVR CEQP  0f note.

Selling Shareholders of note: USFD of note.

Private Placement of Public Entity (PIPE): 

Mixed Shelf Offerings:  SGMO AG APEN 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:

GoDaddy (GDDY) names Mark McCaffrey as CFO.

Fastly (FSLY) CFO Adriel Lares to leave.

Costco (COST) April Comps +32.5% versus +16% in March.

Novavax (NVAX) publishes result of Phase 2b Trial held in South Africa variant  NVX- CoV2373.

Credit Suisse (CS) tells customers will not trade in cannabis corporations with U.S. presence.

At Home Group (HOME) may go private with Hellman & Friedman. (WSJ)

Hilton (HLT) CEO notes business travel is back to 50% of pre-Covid levels. (CNBC)

After Hours: CDNA +16% QLYS +11% AVID +9% PYPL +5% and FSLY -17% ETSY -10% TWLO -5%

Dividend Raises: UGI 

Dividend Suspension: HFC( relates to purchase)

Split Announcement:

Raises Guidance: QRVO PYPL BAND QLYS 

Mixed Guidance:

Lowers Guidance: OSUR FSLY

Buyback Announcements: QRVO

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

S&P 500 -1 Dow Jones Industrial Average +25 NASDAQ -5  Russell 2000 +2  Fair values are lower except for the Russell 2000. Asia and Europe mixed. VIX is at 20.10 from 20.25 this morning in futures. VIX closed at $19.15 from $19.48.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $132,64 from $132.31with the yield at 1.58% from 1.624%.  Bitcoin $57,799 from $55,478.71 and this morning at $532 and 0.93%.

Wednesday’s Action – 5/5.  Equity indexes were mixed but did recover some of the losses.

Positive Sectors On Wednesday: Energy, Materials and Financials.

Negative Sectors On Wednesday: Real Estate, Utilities and Consumer Cyclical.

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: SQ, MNST, CVNA, ROKU, MCHP, AIG, EOG, MSI, MCK, MTD, PTON, ED, DDOG, EXPE, NET, ET, IAC, WPM, PODD, LYV, PBA, GH, NWSA, GDS, CGNX, WYNN of note.

Friday Before the Open: CI, ENB, TRP, TU, DKNG, VTR, UI, CVE, ELAN, ATH, LEA, ITT, NFE, CCJ, ESNT, QRTEA, NKLA of note.

 Earnings This Morning Of Note:

Beats: HII +1.05, SATS +0.93, W +0.79, ADNT +0.63, WCC +0.61, KTB +0.61, RETA +0.56, NJR +0.53, MT +0.50, MMS +0.47, GOLF +0.46, BLDR +0.45, SBH +0.42, TEN +0.39, VSTO +0.39, VIAC +0.37, MRNA +0.37, PZZA +0.35, PENN +0.30, MGA +0.26, IRM +0.25, ZTS +0.24, APTV +0.23, DEN +0.23, TECH +0.23, TPR +0.22, DLX +0.22, MIDD +0.22, SEAS +0.20, ICPT +0.20, MUR +0.19, CWEN +0.17, CORE +0.16, XRAY +0.16, BV +0.15, NLSN +0.15, BDX +0.14, EPAM +0.13, BUD +0.11, FVRR +0.10, EPC +0.10, PWR +0.10, CNP +0.09, EVRG +0.08, TMX +0.08, NOMD +0.08, VNT +0.08, NCLH +0.07, FOCS +0.07, COMM +0.07, BIP +0.06, FIS +0.06, WBT +0.06, HIMX +0.06, HAIN +0.06, BLD +0.05, BKI +0.04, IIVI +0.04, PQG +0.04, IRWD +0.04, SHYF +0.04, THS +0.04, NTCT +0.04, BLL +0.04, VER +0.03, XHR +0.03, GOGO +0.03, HWM +0.03, MYE +0.03, STOR +0.02, OGE +0.01, STWD +0.01, PBH +0.01, VG +0.01, ECOM +0.01

 Flat:  EVOP +0.00

 Misses: NRG (1.51), FOUR (0.61), UFS (0.53), LAUR (0.38), AHCO (0.34), CARS (0.27), WD (0.15), EPZM (0.13), ALE (0.08), ACIW (0.08), INSM (0.07), AES (0.07), FLIR (0.04), OPCH (0.04), USCR (0.03), KL (0.03), CAH (0.03), HL (0.03), REGN (0.03), PRLB (0.02), NTLA (0.02), AVYA (0.01)

 Still to Report: ARW, AZUL, CRAI, EXPI, HSKA, NSIT, IDCC, K, NVMI, PPL, SUN, U

 Insider Purchases:

Below is the list of insider buys from yesterday and this morning. AAT are heavily and moderately shorted with shorts down 18.58%, the squeeze is on. Updated 5/5.

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

Gap Ups & Down In Early Pre-Market:

Gap up: CDNA +16%, HOME +15%, QLYS +10%, AVID +10%, ARLO +9%, GIL +8%, CDAY +8%, MNOV +7%, RUN +6%, HEAR +6%, AOSL +5%, BUD +5%, ZNGA +5%, OSUR +5%, STAA +5%, FVRR +5%, QTWO +5%, PRIM +5%, PYPL +4%, CWH +4%, NUS +4%

Gap down: JRVR -25%, FSLY -17%, RKT -14%, AVNW -13%, YELL -13%, ETSY -11%, VAPO -10%, KTOS -9%, INSG -7%, TXG -6%, TWO -6%, CENX -6%, NVAX -6%, CTSH -6%, RDFN -5%, ALGT -5%, GKOS -5%, TWLO -5%, LOPE -5%, GDDY -4%, CCMP -4%, MTW -4%

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

Stocks making the biggest moves ETSY UBER ZGNA RKT MRNA DDX REGN VIAC  (CNBC)

5 Things To Know before the market opens. (CNBC)

Covid-19 Stats: 43,626 cases and was at 50,061 a week ago. 750 deaths versus 556 a week ago.  Hospitalizations 34,374 versus 37,606 a week ago. (CDC)

President Biden proposes a patent waiver on Covid-19 vaccinations.

CDC Director Walensky sees sharp drop in Covid-19 cases but vaccinations remain key. (CBS News)

Five more key Democrats are not going to run in 2022 mid terms which could impact Democrats ability to keep control of the House. (NYT)

Moderna (MRNA) contracts with the Swiss Government for 7 million booster vaccines in 2022 with option for another 7 million doses.

Google (GOOGL) believes that 20% of workers will work from home. (CNBC)

Robinhood Snacks features discussion of Facebook (FB) and oversight board. Looks at General Motors (GM) earnings.

Index Moving Averages: 5/5 Close

Geopolitical:

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

The President departs the White House en route Joint Base Andrews, 10:10 a.m. EDT

Press Briefing, Principal Deputy Press Secretary Karine Jean-Pierre will speak aboard Air Force One, 11:30 a.m. EDT

The President arrives in Lake Charles, Louisiana, 1:15 p.m. EDT

The President delivers remarks on the American Jobs Plan, Lake Charles, Louisiana, 2:25 p.m. EDT

The President tours Carrollton Water Plant, New Orleans, Louisiana, 5:20 p.m. EDT

The President departs New Orleans, Louisiana en route Joint Base Andrews, 6:40 p.m. EDT

The President arrives at the White House, The White House, 9:05 p.m. EDT

SEC Chairman Gary Gensler to testify before the House Financial Services Committee.

Several Federal Reserve Speakers today:

New York Federal Reserve President John Williams 9:00 a.m. EDT

Atlanta Federal Reserve President Raphael Bostic 1:00 p.m. EDT

Cleveland Federal Reserve President Loretta Mester 1:00 p.m. EDT

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

Economic:

Latest Bank of England (BOE) out with latest rate announcement.

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

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

M&A Activity

MasTec (MTZ) to buy INTREN for $420 million in cash.

Meetings of Note:

Sellside Meeting: BMO Capital Markets Global Reserve & Asset Managers Conference (5/4-5/6) Wells Fargo Industrial Conference (5/5-5/6) D.A. Davidson Financial Institutions Conference (5/5-5/7) Credit Suisse eXtreme Services Conference (5/6-5/7) Wolfe Research Housing Conference (5/6)

Company Meetings: SJI AFYA (Investor Day)  GNBT (Conference Call)  

Industry Meetings: World Vaccine Congress (5/4-5/6)

Upgrades & Downgrades:

Wednesday’s Recommendations

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