Traders Market Weekly: March 14 – 20 2021

Viewing 5 posts - 31 through 35 (of 35 total)
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    BONDS SURGE — and a little sell off by WALL STREET by equities & OIL
    [color=red][size=5][b]Dow 32,862.30 -153.07 -0.46%
    S&P 500 3,915.46 -58.66 -1.48%
    Nasdaq 13,116.17 -409.03 -3.02%
    GlobalDow 3,849.21 6.37 0.17%
    Gold 1,734.60 7.50 0.43%
    Oil 59.53 -5.07 -7.85% [/b][/size][/color]


    Gapping down
    In reaction to earnings/guidance:

    HIMS -7.9%, TWI -2.9%, NKE -2.7%

    Other news:

    IDRA -63.1% (announces results from ILLUMINATE-301 trial; primary endpoint of ORR was not met)
    SKLZ -7.2% (prices offering of 32 mln shares of common stock at $24.00 per share)
    ROAD -6% (prices secondary offering by selling shareholders of 2 mln shares of common stock at $31.25 per share)
    MAX -4.1% (prices secondary offering by selling shareholders of 7 mln shares of common stock at $46.00 per share)
    ARRY -3.7% (prices offering of 31,054,971 shares of common stock at $28.00 per share)
    CB -3% (Hartford Financial: Chubb (CB) confirms preliminary proposal for The Hartford (HIG))
    TXRH -2.3% (announces passing of founder/CEO)
    EXR -2.2% (prices offering of 1.6 mln shares of common stock for gross proceeds of $207.7 mln)
    SLDB -2% (prices offering of 21,739,131 shares of its common stock at $5.75 per share)
    VTVT -1.4% (initiates study exploring the effects of TTP399 on ketone body formation; also files for $250 mln stock offering)
    NBEV -1.3% (stock offering)

    Analyst comments:
    KMB -1.3% (downgraded to Underweight from Neutral at JP Morgan)
    BX -0.9% (downgraded to Perform from Outperform at Oppenheimer)


    Gapping up
    In reaction to earnings/guidance:

    MP +8.2%, ALTG +5.5%, FDX +4.7%, OLLI +4.7%, LAZR +2.4%, JOBS +1.6%, ERJ +1.5%, LX +1%

    Other news:

    KNSA +7.7% (announces FDA approval of ARCALYST for recurrent pericarditis)
    TNXP +7.3% (announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 10,946,027 to the Company on March 16, 2021)
    TRIL +5.1% (files mixed securities shelf offering)
    GPMT +4.9% (increases dividend)
    SRPT +4.2% (shares new results from ongoing study of SRP-9003)
    NCTY +4.2% (The9 Ltd’s NBTC signed Bitcoin mining machine purchase agreement with Bitmain Technologies)
    AA +2.8% (announces new agreements with multiple power generators in Australia)
    WPRT +2.7% (announces co-investment agreement with Tier 1 injector manufacturing partner to expand China production footprint)
    LLNW +2.7% (announces actions to improve growth and profitability; announces workforce reduction)
    TGNA +2.5% (Standard General issues letter to the TEGNA board)
    ACM +2.2% (awarded U.S. Air Force infrastructure and facilities contract under $2 bln program)
    INCY +2.1% (announces results from Phase 3 DEVENT trial; study did not meet its primary endpoint)
    MED +1.8% (increases dividend)
    FOXA +1.4% (announces a new and expanded media rights agreement with the NFL)

    Analyst comments:

    ENPH +3.9% (upgraded to Positive from Neutral at Susquehanna)
    F +3% (upgraded to Overweight from Equal Weight at Barclays)
    NAVI +2% (upgraded to Buy from Hold at Jefferies)
    EVOP +1.4% (upgraded to Buy from Neutral at Compass Point)
    KDP +1.3% (upgraded to Overweight from Neutral at JP Morgan)
    NGG +1% (upgraded to Buy from Hold at HSBC Securities)


    Global equity markets are mostly lower, however US futures are bucking that notion. Most the world markets are calibrating to the late-day selloff in the US on Thursday. S&P Futures are currently up about 14 points and hovering around the 3920 zone. US futures have stabilized with the S&P finding support around the 3900 level. The market weakened through the Asian hours with an ultimate low coming in at 3898.50. Since then, the market found buyers and is currently trading near the session high of 3923.50.

    In Asia, the major markets seemed to follow the tone set in the US on Thursday. The Bank of Japan provided its latest update, but did little to stave off the selling pressure already underway. Many of the Nikkei’s heavyweights were hit hard with Fast Retailing falling 6%, while SoftBank and Tokyo Electron gave up 3%. Chinese markets fared no better with both the Shanghai and Hang Seng succumbing to pressure and closing at the session lows.

    In Europe, the major bourses are weaker as well. Financials have given way with the US 10-year slipping back through the 1.70% level. Lenders such as Commerzbank, Deutsche Bank and Barclays are down about 1%. Automakers are seeing some profit taking after an impressive run this week. Daimler and BMW have pulled back about 2%.

    Market Updates

    S&P Futures vs Fair Value: +15.0
    10 yr Note: 1.69%
    USD/JPY: 108.70 -0.18
    EUR/USD: 1.1913 -0.0002
    Europe: FTSE: -0.6% DAX: -0.3% CAC: -0.6%
    Asia: Hang Seng: -1.4% Shanghai: -1.7% Nikkei: -1.4%
    Gold (1742.30 +9.80) Silver (26.24 -0.11) Crude (61.13 +1.07)


    [color=red][size=5][b]Dow 32,627.97 -234.33 -0.71%
    S&P 500 3,913.10 -2.36 -0.06%
    Nasdaq 13,215.24 99.07 0.76%
    GlobalDow 3,823.85 -26.63 -0.69%
    Gold 1,744.50 2.80 0.16%
    Oil 61.44 0.02 0.03%[/b][/size][/color]

Viewing 5 posts - 31 through 35 (of 35 total)
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