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Gapping up
In reaction to earnings/guidance:WPRT +8.5%, BEKE +5.7%, AMPH +3.8%, DFH +2%, CS +0.9% (provides trading update ahead of investor presentation), SRT +0.6%, NFE +0.5%
Other news:
FTCV +16.2% (eToro confirms plans to become publicly traded through business combination with FinTech Acquisition Corp. V)
ZOM +9.2% (recorded the first veterinarian sale of TRUFORMA and officially entered commercialization)
ABUS +7.4% (received regulatory approval to initiate a Phase 1a/1b clinical trial with AB-836, its proprietary oral capsid inhibitor for the treatment of HBV infection)
CAAP +6.9% (reports February traffic)
FLGT +6.7% (CDC has awarded a contract to provide genomic sequencing of samples of SARS-CoV-2 on an ongoing basis)
IPA +6.6% (confirmed the results of an additional PolyTope antibody interaction analysis against SARS-CoV-2 spike protein variants of concern)
GNOG +5.7% (wins Virginia sports betting license)
VLDR +4.3% (new COO)
IPI +3.5% (raises price on Trio by $20 per ton)
VTGN +3.5% (files for $250 mln mixed securities shelf offering)
ASC +3.4% (signs letter of intent with Element 1 Corp. and Maritime Partners to establish joint venture)
ACIU +3.2% (new clinical results in down syndrome and plans for future development of anti-amyloid-beta vaccine)
AVXL +2.6% (reports ANAVEX featured as a disease-modifying small molecule in phase 3 clinical trials in a New Publication in Medical Journal titled “Future Avenues for Alzheimer’s Disease Detection and Therapy”)
MRNA +2.5% (announced that the first participants have been dosed in the Phase 2/3 study of mRNA-1273 in children ages 6 months to less than 12 years)
AZN +2.4% (agrees to supply the US with up to 500K additional doses of the potential COVID-19 antibody treatment AZD7442)
FIII +2.2% (Forum Merger III Corporation: Electric Last Mile provides update on pre-orders and start of production )
GFL +2% (to acquire Terrapure Environmental)
INMD +1.7% (filed a complaint with the US ITC alleging ILOODA’s SecretRF fractional radio frequency microneedling system)Analyst comments:
IHRT +4.9% (upgraded to Neutral from Underweight at JP Morgan)
ANAB +4.2% (upgraded to Buy from Hold at Truist)
DESP +3.6% (upgraded to Overweight from Sector Weight at KeyBanc Capital Markets)
SBUX +1.9% (upgraded to Buy from Neutral at BTIG Research)
POR +1.6% (upgraded to Neutral from Sell at Goldman)S&P Futures vs Fair Value: -4.0
10 yr Note: 1.604%
USD/JPY: 109.18 +0.06
EUR/USD: 1.1934 +0.0010
Europe: FTSE: +0.7% DAX: +0.5% CAC: +0.2%
Asia: Hang Seng: +0.7% Shanghai: +0.8% Nikkei: +0.5%
Gold (1730.30 +1.10) Silver (26.15 -0.14) Crude (64.69 -0.70)The global equity markets are generally stronger, but S&P Futures are pulling back by a fraction. Considering the S&P Index closed near the session high on Monday, the futures may be seeing a slight pause. Spoos are currently off by 0.1% to around the 3955 area. The range consolidated to a high of 3964.00 and a low of 3951.00.
In Asia, the major markets closed higher, seemingly taking their cue from yesterday’s advance in the US. China managed to take back the majority of the prior day’s loss with a gain of 0.8%. The Chinese benchmark saw a solid bid throughout the day to close near the day’s high. The Nikkei muscled its way higher with strong performances from heavyweights. Names such as SoftBank, Tokyo Electron and Advantest outpaced the average with gains of 2-3%.
In Europe, the major bourses are echoing the tone seen in the US. It was a relatively quiet session for news. Volkswagen (+4%) has helped the automotive stocks lead the way after reporting fiscal year results and providing an upbeat outlook.
February retail sales fall from high perch
Total retail sales declined 3.0% m/m in February (consensus -0.6%) and retail sales, excluding autos, declined 2.7% (consensus +0.2%). However, there were large upward revisions to January sales, with total sales increasing 7.6% (from 5.3%) and sales, excluding autos, surging 8.3% (from 5.9%).
The key takeaway from the report is that the “weakness” in February was a byproduct of the tremendous strength in January, which made the sequential comparison exceedingly difficult. The market shouldn’t be thrown for much of a loop by the February sales data — if it’s thrown for one at all — because it recognizes that a new round of stimulus checks is just now starting to hit deposit accounts and will assuredly help prop up retail sales in March and April along with the early unleashing of some pent-up demand.
There were monthly sales declines in all categories with the exception of gasoline station sales (+3.6%) and food and beverage store sales (0.0%).
Motor vehicle sales declined 4.2% after increasing 5.0% in January.
Furniture and home furnishing store sales declined 3.8% after increasing 12.9% in January.
Electronics and appliance store sales declined 1.9% after increasing 16.7% in January.
Nonstore retailer sales declined 5.4% after increasing 16.8% in January.[color=green][size=5][b]Some very minor selling as FED watch & BOND prices are in play today
DOW almost touched heaven at 33,000 yesterday (just 26 points away)
DOW is off about minus 120 but NASDAQ & other equities still moving on up :)[/b][/size][/color][size=5][i]OKAY WALL STREET — One of my FAV songs shares what happens when
you get caught between the MOON & NEW YORK CITY[/i][/size] 😉 :woohoo: :woohoo: :woohoo: :woohoo:
[color=green][size=5][b]OOOOOHHHHHH DANNNNY BOY
a wonderful holiday where the “Good News” was brought to England/Ireland[/b][/size][/color]
https://en.wikipedia.org/wiki/Saint_Patrick%27s_Day
[size=5][b][color=red]Dow 32,825.69 -127.77 -0.39%
S&P 500 3,962.68 -6.26 -0.16%[/color]
[color=green]Nasdaq 13,471.57 11.86 0.09%
GlobalDow 3,843.77 1.81 0.05% [/color]
Gold 1,729.50 0.30 0.02%
Oil 64.65 -0.74 -1.13%[/b][/size]One of greatest Celtic artists & songs all time
[color=green][size=5][b]HAPPY ST. PATRICK’S DAY TO ALL
BE SURE TO WEAR GREEN TODAY – OR YOU’LL GET PINCHED[/b][/size][/color]The global equity markets are little changed across the board. The markets have seen a quiet night of trading in advance of the FOMC announcement later this afternoon. S&P Futures are straddling the neutral zone, trading in the 3950 area. The range saw a high of 3960.25 and a low of 3946.25.
In Asia, the major markets closed right around the flat line. These markets appeared to take a “wait and see” approach with the Fed’s latest update on deck. The Nikkei was able to stave off a loss even with automotive stocks under pressure. Names such as Honda and Nissan closed the session down over 1%.
In Europe, the major bourses are trading in similar fashion as the rest of the globe. Contrary to that of Japan, automakers are representing strength. This is in response to the February New Car Registrations data that saw a decline of 19.3%. Although this showed a decline, it was slower than the 24% fall in January. This has enabled names such as BMW, Volkswagen and Renault to rise by 3-4%.
Market Updates
S&P Futures vs Fair Value: -2.0
10 yr Note: 1.641%
USD/JPY: 109.09 +0.10
EUR/USD: 1.1913 +0.0012
Europe: FTSE: -0.3% DAX: -0.1% CAC: -0.1%
Asia: Hang Seng: 0.0% Shanghai: 0.0% Nikkei: 0.0%
Gold (1734.60 +2.00) Silver (26.11 +0.11) Crude (64.63 -0.17)Gapping up
In reaction to earnings/guidance:LE +6.2%, CRWD +2.9%, FF +2.7%, HIL +2%, LEN +0.7%
Other news:
IMTX +23.8% (presents data update on dose escalation from ongoing ACTengine cell therapy programs)
TNXP +8.7% (preliminary results following vaccination of non-human primates with TNX-1800)
CELC +5.7% (NVS, PBYI, CELC and MD Anderson to collaborate to study new drug regimen)
PBYI +4.3% (NVS, PBYI, CELC and MD Anderson to collaborate to study new drug regimen)
GLG +2.6% (signs LOI with Chenzhou Dingmei Silver to acquire ownership of a molybdenum copper ore in Kazakhstan)
COHR +2.5% (Coherent confirms new acquisition proposal from Lumentum (LITE))
CRNT +1.8% (announces a Tier 1 Operator in the Pacific Rim has placed a significant follow-on frame agreement for its flexible wireless hauling solutions)
PDCO +1.6% (approves new $500 mln share repurchase authorization)
QRTEA +1% (QRTEA discloses 25.5% stake in SCOR)
BALY +0.9% (receives temporary sports wagering permit in Virginia)
IIVI +0.6% (Coherent confirms new acquisition proposal from Lumentum (LITE))Analyst comments:
FNKO +2.1% (upgraded to Market Perform from Underperform at BMO Capital Markets)
AA +1.1% (upgraded to Buy from Hold at Deutsche Bank)
MCD +0.9% (upgraded to Buy from Hold at Deutsche Bank)Gapping down
In reaction to earnings/guidance:
KC -9.8%, PDD -4.9%, CRIS -3.3% (also files for $100 mln common stock offering; also files for mixed securities shelf offering), CAL -2.6%
Other news:
PLUG -18.2% (to restate earnings)
NRG -10.2% (provides financial update on winter storm uri impacts; Winter Storm Uri expected to have a more significant impact on the Company’s 2021 results; withdraws FY21 adjusted EBITDA guidance)
REGI -8.9% (prices offering of 5 mln shares of common stock at $67.00 per share)
OIS -7.5% (prices offering of $135 mln of its 4.75% convertible senior notes due 2026)
ARRY -7.4% (stock offering; also provides update)
SJI -6.6% (to conduct concurrent public offerings of up to $225 mln shares of common stock and 6.0 mln equity units)
BLDP -5.9% (in sympathy with PLUG on restatement news)
KODK -5.3% (files for $500 mln mixed securities shelf offering; also files for 44,490,032 share common stock offering by selling shareholders)
BE -5.2% (in sympathy with PLUG on restatement news)
FCEL -5.1% (in sympathy with PLUG on restatement news)
RUBY -5% (upsizes and prices offering of 6,896,552 shares of its common stock at $29.00 per share)
PAE -4.9% (CEO to reisgn for personal reasons; co reaffitms FY21 guidance)
CCNC -4.5% (files for $500 mln mixed securities shelf offering)
BLUE -3.6% (Chief Medical Officer departs)
BILI -3.2% (launches Hong Kong public offering, which forms part of the global offering of 25,000,000 Class Z ordinary shares)
CFX -2.5% (prices offering of 14 mln shares of common stock at $46.00 per share)
UBER -2.3% (will provide drivers in the UK with paid holiday time, an earnings guarantee, and pensions)
PRIM -2.2% (stock offering)
LITE -2.1% (Coherent confirms new acquisition proposal from Lumentum (LITE))
MAX -1.4% (stock offering)
MU -1.4% (to strengthen its focus on memory and storage technology for data center)
IMAX -1.4% (prices offering of 0.500% convertible senior notes due 2026)
STEP -1.3% (stock offering)Analyst comments:
MOMO -3.4% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
MERC -2.5% (downgraded to Neutral from Outperform at Credit Suisse)[color=limegreen][size=6][b]DOW 33,000 (33,041=high) 😆
FOMC on HOLD until 2023 – even if inflation surges :whistle: [/b][/size][/color]
[b][color=green][size=6][b]Dow 33,015.37 189.42 0.58%
S&P 500 3,974.12 11.41 0.29%
Nasdaq 13,525.20 53.64 0.40%
GlobalDow 3,859.06 6.99 0.18%
Gold 1,743.00 12.10 0.70%
Oil 64.55 -0.25 -0.39%CELTIC GREEN – GREATEST OF ALL TIME[/b][/size][/color][/b]
Upstart $UPST up 43% after hours on earnings
$0.07 vs $0.02
Revenue Q4 $86.7mn vs estimates $74.06mn
Lending volume: up 57% YoYGuidance:
Q1 2021 revenue of $112-118mn vs cons of $73.78mn Rocket
FY 2021 revenue of $500mn vs cons $354.3mn
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