<![CDATA[Researchfin.ai Opening Bell]]>https://openingbell.researchfin.aihttps://substackcdn.com/image/fetch/$s_!T0kQ!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F9d8a0cc2-52d2-4288-bc8f-5cbbefc046e0_400x400.pngResearchfin.ai Opening Bellhttps://openingbell.researchfin.aiSubstackWed, 06 May 2026 10:29:06 GMT<![CDATA[Tough Ending to Q3!]]>https://openingbell.researchfin.ai/p/tough-ending-to-q3https://openingbell.researchfin.ai/p/tough-ending-to-q3Fri, 01 Oct 2021 12:20:09 GMTGood Morning! 

We’re taking a break! Well, only from publishing this newsletter, ‘Opening Bell’. We know that the newsletter has become a part of you for a while now, and we would like to continue to keep it so. We are working on a makeover to bring more value to each of you reading our content. In the meantime, do let us know any suggestions/feedback of what you'd like from us at social@researchfin.ai.

The wonder pill! Merck would ask US regulators to authorize the first antiviral pill to treat Covid-19 after a late-stage clinical trial showed the drug cut the risk of hospitalization or death in half. If the US Food and Drug Administration authorizes the drug, called molnupiravir, it would be the first treatment of its kind — a twice-daily pill prescribed for five days to patients who have recently been diagnosed with Covid.

Oyo, the SoftBank-backed hotel platform, has filed for an initial public offering to raise $1.1bn, the latest in a flurry of lossmaking Indian start-ups trying to tap the country’s red-hot equity markets. The company, which is almost 47 per cent-owned by SoftBank, was one of the Japanese group’s biggest bets in India’s tech market, burning investor cash as it expanded rapidly in a quest to become the world’s largest hotel chain.

Reviewing Thursday's economic data:

Initial jobless claims for the week ending September 25 increased by 11k to 362k. Continuing claims for the week ending September 18 decreased by 18k to 2.802 million. The key takeaway from the report is the surprisingly high number of initial jobless claims when job openings are at a record high and confidence is building that the dampening effects of the Delta variant are lifting.

The third estimate for Q2 GDP checked in at 6.7% versus the second estimate of 6.6%. The GDP Deflator was unchanged at 6.1%. The key takeaway from the report is that its dated nature (released on the last day of the third quarter), and the lack of any meaningful change from the second estimate, have robbed it of any market-moving influence.

US Markets:

The S&P 500 fell 1.2% on Thursday and closed at session lows in a volatile session to end the third quarter. The Dow Jones Industrial Average declined 1.6%, the Russell 2000 declined 0.9%, and the Nasdaq Composite declined just 0.4%.

The broader market struggled as investors had to contend with some softening economic data, disappointing earnings news, continued uncertainty on infrastructure, and even some quarter-end machinations.

All 11 S&P 500 sectors closed lower, as selling interest accelerated into the close on no specific news. The industrials sector (-2.1%) led the retreat with a 2% decline while the communication services sector (-0.4%) outperformed on a relative basis with a 0.4% decline.

Futures!

Futures markets signaled that Wall Street’s S&P 500, which ended September almost 5 per cent lower in its worst performance since the coronavirus-induced rout of March 2020, would lose 0.5 per cent in early New York dealings.

Key Movers in Small Cap:

Bed Bath & Beyond Inc. (BBBY, -22.18%▼)The home-goods retailer lost more than a fifth of its market value Thursday after reporting a sharp drop in quarterly sales, citing supply-chain challenges, inflation, and people avoiding stores due to Covid-19 concerns. The relative volume of the stock was 13.8.

OptimizeRx Corporation (OPRX, 14.13%▲) gained 15% to $86.18. OptimizeRx is set to join S&P SmallCap 600, effective Monday, October 4th. On September 30, 2021, OptimizeRx Corporation announced that Edward Stelmakh has been appointed to serve as the Company's Chief Financial Officer/Chief Operations Officer, effective as of October 11, 2021. The relative volume of the stock was 7.5.

The other movers in the small-cap segment included: 

Aemetis Inc (AMTX, 12.01%▲): Relative Volume 5.9.

Catalyst Pharmaceuticals Inc (CPRX, 5.58%▲): Relative Volume 4.3.

Key Movers in Large Cap:

CarMax Inc (KMX, 12.63%▼) The auto retailer missed estimates by 18 cents with quarterly earnings of $1.72 per share, although revenue topped analyst projections. Comparable pre-owned car sales rose 6.2%, less than the 7.3% estimate of analysts. The relative volume of the stock was 4.6.

Hanesbrands Inc. (HBI, 7.34%▼) slipped to $17.16 Thursday, on what proved to be an all-around grim trading session for the stock market, The stock underperformed when compared to some of its competitors Thursday, as Ralph Lauren Corp. Cl A (RL, -5.00%▼), PVH Corp. (PVH, -6.02%▼), and Gildan Activewear Inc. (GIL, -2.14%▼). The relative volume of the stock was 2.5. 

The other movers in the large-cap segment included: 

Altria Group Inc (MO, -6.61%▼): Relative Volume 2.7.

Paychex, Inc. (PAYX, -1.09%▼): Relative Volume 2.1.

Dollar Tree, Inc. (DLTR, -4.77%▼): Relative Volume 2.0.

Report Card:

Bed Bath & Beyond (BBBY, -22.1%▼) provided terrible earnings results and guidance. BBBY shares dropped 22%. CarMax (KMX, -12.6%▼) missed EPS estimates, and McCormick (MKC, -3.2%▼) trimmed its FY21 EPS guidance due to ongoing supply chain issues.

On the Lookout:

Looking ahead to Friday, investors will receive the ISM Manufacturing Index for September, Personal Income and Spending for August, PCE Prices for August, the final Univ. of Michigan Index of Consumer Sentiment for September, Construction Spending for August, and the final Markit Manufacturing PMI for September. 

Unusually high shorter-term CALL options activity seen on Bed Bath & Beyond Inc. (BBBY,  -22.18%▼), BP plc (BP, -1.62%▼), Acceleron Pharma (XLRN, -1.86%▼), Corteva Inc (CTVA, -1.82%▼), and Beyond Meat Inc (BYND, -1.00%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Cisco ICICI Bank Ltd (IBN, -1.77%▼), Turtle Beach Corp (HEAR, 0.43%▲), Royal Caribbean Cruises Ltd (RCL, -1.90%▼), Analog Devices (ADI, -0.81%▼) and Tesla (TSLA, -0.75%▼) among others.

Other Asset Classes:

The yield on the 10-year US Treasury bond fell 0.05 percentage points to 1.481 per cent as investors selling equities sought shelter in the low-risk asset, despite half of Fed officials last week forecasting an interest rate risk next year.

Brent crude, the international oil benchmark, inched 0.2 per cent lower to $78.14 a barrel after touching $80 earlier this week for the first time in almost three years.

The dollar index, which tracks the US currency against six others including the euro and sterling, was steady after touching a one-year high in the previous session.

Global Markets:

European equities started the third quarter of the year lower, as concerns about economic stagflation and US monetary policy combined with surging energy prices and risks of a slowdown in China’s industrial and property sectors to prolong a downturn in global stock markets. The regional Stoxx 600 index, which rallied to a record in early September before losing 3.4 per cent over the month, dropped 0.9 per cent in early trading. London’s FTSE 100 fell 0.7 per cent.

In Asia, Tokyo’s Topix share index dropped 2.2 per cent. Markets in Hong Kong and mainland China were closed on Friday for a holiday.

Meanwhile on Researchfin.ai

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup!  Signup, we have a 30-day free trial.

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Team Researchfin.ai

Disclaimer: Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[360 Degree!]]>https://openingbell.researchfin.ai/p/360-degreehttps://openingbell.researchfin.ai/p/360-degreeWed, 29 Sep 2021 11:45:13 GMTGood Morning! 

The EU is returning to pre-pandemic consumer activity. Latest data shows a surge in the use of public transport, recovery in box office revenues, Covid infections falling, and flight numbers stabilizing. Are we reaching the end of the pandemic? Or is it too soon to speculate? 

The US government is running out of money! Republicans are refusing to increase the borrowing limit, leaving Chuck Schumer, the Senate’s top democrat with a 20-day window to find out a way to raise the debt ceiling - ahead of October 18, when the Treasury Secretary has warned the government will run out of money. 

The Evergrande crisis! The debt-ridden property giant will sell 1.75bn shares worth $1.5bn, the company owns in Shengjing Bank, as it faces another bond interest payment due today. The company has already missed one key $83.5m coupon payment last week. 

Meanwhile, in the US, the Fed has questioned several big banks regarding their exposure to Evergrande, following other global regulators in gauging the domestic potential fall-out from Evergrande’s debt crisis. 

The Consumer Confidence Index, for the month of September, was expected to rise but has instead fallen to a 7-month low of 109.3, after declining 5.9 points from August. The Goods Trade deficit has risen 0.9% to $87.6bn in August. 

Morgan Stanley’s Bitcoin bet! The US investment giant has reported acquisition of around 30,000 shares in the investment vehicle Grayscale Bitcoin Trust. The transaction has made MS the second-largest shareholder within Grayscale. 

US Markets:

The markets Tuesday exhibited the first signs of a “taper tantrum”, with a serious pullback led by tech stocks, as investors nervously watched a swift rise in US Treasury Yields. 

Tech-heavy Nasdaq (-2.86%▼) recorded its worst day since March, as the index shed some 434 points by the end of the day Tuesday.   

S&P 500 (-2.04%▼) fell more than 90 points, to close the day at 4352.63. A slide of 569 points pushed Dow Jones (-1.63%▼) substantially down as well, while Russell 2000 (-2.25%▼) was the second worst-hit index, with a loss of more than 50 points. 

Sectors at the S&P 500 ended overwhelmingly into the red zone, with the only exception of Energy (0.46%▲), which continues to remain buoyed by the rising crude prices. 

Expectedly, Technology (-2.98%▼) was at rock bottom, with Consumer Discretionary (-2.01%▼), Real Estate (-2.32%▼), Communication Services (-2.80%▼), and Utilities (-2.56%▼) almost matching the losses in the tech sector.   

Financials (-1.59%▼),  Materials (-1.28%▼), Industrials (-1.15%▼), Consumer Staples (-1.92%▼), and Healthcare (-1.70%▼) also incurred losses of more than 1% for the day.

Futures!

As the treasury yields eased a little from highs, the Futures made gains Wednesday morning with all major indices in green.  

As of 07:00 ET, the futures looked like this: Nasdaq Futures ( 1.04%▲), Dow Futures (0.62%▲), S&P 500 Futures ( 0.77%▲), and Russell 2000 Futures ( 0.88%▲).

Key Movers in Small Cap:

Gogo Inc (GOGO, 37.64%▲) Tuesday said that its margin, based on adjusted earnings before interest, taxes, depreciation, and amortization, will climb to 45% in 2025. The relative volume of the stock was 69.3.

United Natural Foods (UNFI, 23.73%▲) smashed the estimates on its earnings, in its Q4 financial report. The relative volume of the stock was 18.0. 

One of the patients treated with Pemvidutide, the lead candidate of Altimmune Inc (ALT, -2.50%▼), showed signs of liver damage even as the drug overall exhibited that it helps in weight loss. The relative volume of the stock was 14.7. 

 The other movers in the small-cap segment included: 

FRP Holdings (FRPH, -0.03%▼): Relative Volume 5.6.

Retail Opportunity Investments (ROIC, -0.62%▼): Relative Volume 4.5.

Brookdale Senior Living Inc (BKD, -2.28%▼): Relative Volume 3.8.

SOC Telemed Inc (TLMD, -3.31%▼):  Relative Volume 3.8.

US Ecology Inc (ECOL, -2.37%▼):  Relative Volume 3.5.

Key Movers in Large Cap:

TD Synnex (SNX, -6.82%▼) posted disappointing fiscal Q3 sales, Tuesday, as it announced the financial results for the quarter. The relative volume of the stock was 6.0. 

Media reports suggested that CyrusOne (CONE, 6.89%▲) was exploring strategic alternatives, which included a potential sale of the company. The relative volume of the stock was 4.7.   

Thor Industries Inc (THO, 7.93%▲) presented an excellent Q4 financial report, propelling the stock higher. The relative volume of the stock was 4.2. 

Acceleron Pharma Inc (XLRN, 2.19%▲) continued to soar on news of getting acquired in an $11bn deal. The relative volume of the stock was 3.1. 

The other movers in the large-cap segment included: 

Double Verify Holdings (DV, -2.02%▼): Relative Volume 3.1.

Cabot Oil & Gas (COG, -1.09%▼): Relative Volume 2.5.

Cimarex Energy Co (XEC, -1.12%▼): Relative Volume 2.5.

Novavax Inc Inc (NVAX, -11.34%▼):  Relative Volume 2.4.

Dynatrace Inc (DT, -5.42%▼): Relative Volume 2.2.

Report Card:

United Natural Foods (UNFI, 23.73%▲), the organic food company, reported adjusted earnings of $1.18 per share, better than the estimated 80 cents, with quarterly revenue of $6.7bn, a little less than the expected $6.85bn. The stock fell by 0.81% after hours. 

The Manufacturer of recreational vehicles, Thor Industries Inc (THO, 7.93%▲) reported an EPS of $4.12, comprehensively beating the estimates of $2.91 per share and $2.14 per share in the prior year. The revenue of $3.59bn surpassed the estimates by 7.98%. The stock continued to be in the green zone after hours. 

TD Synnex (SNX, -6.82%▼), the B2B It services provider, came out with an operating income of $148m, ahead of the prior year’s $132m. The revenue of $5.2bn was however 1.9% lower than the prior year’s revenue in the same quarter. The stock managed to crawl into the green zone after hours. 

On the Lookout:

Fed Chair, Jerome Powell, is scheduled to speak at the European Central Bank forum. 

The Pending Home Sales Index is expected to go from July’s -1.8% to 0.4% in August. 

Unusually high shorter-term CALL options activity seen on Hyzon Motors Inc (HYZN,  -28.01%▼), Teva Pharmaceuticals (TEVA, 3.90%▲), DraftKings Inc (DKNG, -2.84%▼), Occidental Petroleum Corporation (OXY, -0.96%▼), and Teladoc Health Inc  (TDOC, -3.33%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Cisco Systems Inc (CSCO, -1.25%▼), Freeport-McMoRan Inc (FCX, -1.00%▼), Ondas Holdings Inc (ONDS, 17.46%▲), Carnival Corp (CCL, 0.80%▲) and Crispr Therapeutics AG (CRSP, -4.36%▼) among others.

Other Asset Classes:

Crude Oil Prices - After hitting their highest mark in around 3 years, the Crude Oil prices pulled back a little early Wednesday morning. Early morning Brent crude was trading 1.00% lower at $78.30 per barrel. WTI crude slid below the $75 per barrel mark, and was 1.06% lower this morning.  

The US Dollar (93.82, 0.06%▲) recorded a new 2021 high at 93.90, before pulling back a tad bit this morning. The taper talk by Fed is fuelling the greenback, with a target of 94 in clear sight. 

Ahead of Powell’s speech at the ECB forum, the US Treasury Yields retreated a little Wednesday morning. The 10 Year US Treasury Yield was trading in the red zone but was still above the 1.5% mark at 1.503%.

Global Markets:

Asian Markets: Following the selloff in the US and the EU markets on Tuesday, most of the markets in the Asia Pacific region tumbled Wednesday, as fears of weak growth and lasting inflation weighed heavy on investors’ minds. Tokyo’s Nikkei, tumbled by around 640 points to close 2.12%, into the red zone. Shanghai slipped down 1.83%. Hang Seng however outperformed the overall sentiment with gains of 0.67%. 

The Indian market followed the overall selloff in Asia today. Financials tanked, dragging Sensex down 254 points (-0.43%), and Nifty lower 37 points (-0.21%). Metals, Pharma, PSU Banks, and Realty sectors outperformed the indices, however. 

European markets: Despite the fears of a global slowdown the EU markets rebounded this morning. FTSE (0.80%), CAC (0.87%), DAX (0.89%) , and the pan-EU index Stoxx-600 (0.74%) looked set to make up for Tuesday’s losses today. 

Meanwhile on Researchfin.ai

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Taper Ready! ]]>https://openingbell.researchfin.ai/p/taper-readyhttps://openingbell.researchfin.ai/p/taper-readyTue, 28 Sep 2021 11:33:42 GMTGood Morning! 

Three Fed officials - including Governor Lael Brainard, New York President John Williams, and Charles Evans of Chicago - have expressed their comfort on policy tightening, despite not feeling any pressure from inflation. How soon will the pullback begin?  

The ethical controversy inside Fed! Two top Fed officials - including President of the Boston Fed, Eric Rosengren, and the Dallas Fed President Robert Kaplan - are stepping down in wake of revelations about their financial trading, exposing potential shortcomings in Fed’s rules on investments. 

Walls crumble! The internet platforms in China have for the first time, started to open up for the competition - under immense pressure from the regulators. Alibaba has started integrating Tencent’s WeChat pay on some of its apps, while Tencent is responding with unblocking links from Alibaba. 

‘Electric’ future! Auto giant Ford Motors has unveiled plans to spend $11bn, with South Korea’s SK Innovation, to establish an industrial backbone for its electric pickup truck business. With this largest spending in 118 years of its history, Ford is looking to establish 3 factories to supply batteries and vehicles.  

Et Tu, Ferrari! The company has hired the former chief designer of Apple Inc, Jony Ive, ahead of its debut into fully electric vehicles. Ferrari will launch its first EV in 2025.   

The $90 mark! For the first time in 3 years, Brent Crude has gone above the $80 per barrel mark, with global supplies exhibiting signs of further constriction. Analysts believe the $90 per barrel mark looks within reach.  

Despite supply constraints and higher material costs, the Durable Goods Orders, for the month of August, increased 1.8% to a record $263.5bn, as compared with the month of July. 

“Instagram Kids” paused! A scathing report, by WSJ, highlighting Instagram’s “toxic” effect on teenagers has forced Facebook to put a lid - at least for now - on the “Instagram Kids”, meant for people aged below 13.  

US Markets:

Amid fears of a government shutdown, as Republicans block the spending bill, the markets ended mixed on Monday. 

After a three-day winning streak last week, the S&P 500 (-0.28%▼) fell Monday and closed at 4443.11. Tech-heavy Nasdaq (-0.52%▼) continued the losing streak. 

Dow Jones (0.21%▲) made a gain of over 71 points, buoyed by the rally in Energy stocks, while Russel 2000 (1.46%▲) ended in the green zone as well. 

Sectors at the S&P 500 ended mixed as well, with five of the 11 sectors falling below the zero mark.

Energy (3.43%▲) was the leading sector, making substantial gains, followed by Financials (1.31%▲) and Materials (0.78%▲) making decent gains as well.   

Consumer Discretionary (0.38%▲), Industrials (0.11%▲), and Consumer Staples (0.21%▲) managed to eke out some gains as well. 

Healthcare (-1.43%▼), Real Estate (-1.21%▼), and Technology (-1.01%▼) suffered losses of more than 1%.  Utilities (-0.50%▼), and Communication Services (-0.11%▼) closed in the red zone as well. 

Futures!

The Futures were red without an exception, early Tuesday morning, as the EU markets tumbled and the Asian markets ended mixed.  

As of 06:00 ET, the futures looked like this: Nasdaq Futures (-1.58%▼), Dow Futures (-0.52%▼), S&P 500 Futures (-0.90%▼), and Russell 2000 Futures (-0.44%▼).

Key Movers in Small Cap:

Kraton Corporation (KRA, 9.37%▲) is in the process of being acquired by DL Chemical Co Ltd, in an all-cash deal of $2.5bn. Under the terms, shareholders of KRA will get $46.50 in cash for each share. The relative volume of the stock was 36.4. 

The other movers in the small-cap segment included: 

Apyx Medical Corporation (APYX, 10.89%▲): Relative Volume 23.9.

AerSale Corporation (ASLE, 15.57%▲): Relative Volume 13.1.

Keros Therapeutics Inc (KROS, 32.45%▲): Relative Volume 13.1.

Adicet Bio Inc (ACET, 2.50%▲):  Relative Volume 5.1.

Reliant Bancorp Inc (RBNC, 3.13%▲):  Relative Volume 5.0.

Key Movers in Large Cap:

Acceleron Pharma Inc (XLRN, 6.69%▲) continued to soar on news of getting acquired in an $11bn deal. The relative volume of the stock was 3.6. 

The other movers in the large-cap segment included: 

Dun & Bradstreet Holdings (DNB, 0.35%▲): Relative Volume 3.2.

Globant SA (GLOB, -7.89%▼): Relative Volume 2.4.

Flowserve Corporation (FLS, 2.45%▲): Relative Volume 2.3.

Best Buy Co Inc (BBY, 5.19%▲):  Relative Volume 2.1.

Dynatrace Inc (DT, -1.73%▼): Relative Volume 2.1.

Carnival Corporation Plc (CCL, 3.69%▲): Relative Volume 1.9.

Report Card:

The business services company, Concentrix Corp (CNXC, -0.76%▼) has reported a 136.4% y-o-y increase in diluted earnings per share to $2.08, while the revenue has dropped by 20.1% to $1397.3m. The operating income of the company has also increased by 97.1% y-o-y to $151.4m. The stock rose by 3.65% after hours. 

On the Lookout:

The Consumer Confidence Index, for the month of September, is expected to rise to 115.3 from August’s 113.8. 

Trade-in Goods, Advanced Report, for the month of August is due today, with a previous print of -$86.4bn. 

The S&P Case-Shiller, Home Price Index, for the month of July, is due today with a previous print of 18.6%.   

AI drug hunter, Exsceintia, is aiming to raise $100m by offering 13.0m shares of its common stock, priced between $20 and $22 per share. 

The hair care company, Olaplex, will be raising $1bn by offering 67m shares of its common stock, priced between $14 and $16 per share. 

The Singaporean Tech-service provider, TDCX, is set to raise $319m by offering 18.7m shares of its common stock, priced between $16 and $18. 

The eyewear brand, Warby Parker, is offering 77.7m shares of its common stock, priced at $24.53 per share. 

Unusually high shorter-term CALL options activity seen on Gores Guggenheim Inc (GGPI, 4.60%▲), Laureate Education Inc (LAUR, 2.90%▲), Draft Kings Inc (DKNG, 0.12%▲), Vale SA (VALE, 0.35%▲), and Tesla Inc  (TSLA, 2.19%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Aurora Cannabis Inc (ACB, 7.31%▲), Wells Fargo & Co (WFC, -0.75%▼), Sarepta Therapeutics Inc (SRPT, 0.56%▲), PG&E Corporation (PCG, 0.30%▲) and BHP Group Limited (BHP, 0.99%▲) among others.

Other Asset Classes:

Crude Oil Prices - Brent Crude has breached the $80, per barrel mark, early Tuesday morning as global output disruptions, rising shipping costs, and shrinking US inventories keep fuelling the prices. Early morning Brent crude was trading 0.82% higher at $80.18 per barrel. WTI crude is has climbed over the $76 per barrel mark. 

The US Dollar (93.53, 0.16%▲) supportive Fedspeak on Monday propelled the greenback to the monthly high of 93.60, and within a striking distance of YTD high of 93.70/75. 

A prospect of tighter economic policy and optimism about the global economic recovery lifted US Treasury Yields on Monday, with the buoyancy continuing early Tuesday morning. The 10 Year US Treasury Yield climbed past 1.5% for the first time since June. Tuesday morning, the 10 Year US Treasury Yield was trading at 1.546%, and in the green zone.

Global Markets:

Asian Markets: Most of the markets closed in the red zone in the Aisa Pacific region, as investors grappled with an imminent fall-out of the Evergrande crisis and an unabated power shortage in China, threatening to affect the country’s GDP as well as Global Supply Chains. Nikkei, closed 0.19%, into the red zone. Shanghai and Hang Seng however outperformed the overall sentiment with gains of 0.54% and 1.30% respectively. 

The Indian market With eyes on some major economic data, due later this week, closed lower. Sensex closed 410 points (0.68%) lower - after paring some losses - while Nifty shed in excess of 106 points (0.60%). Realty, IT & Media were the top drags as Metals eked out gains.  

European markets: A surge in government bond yields pressured major high-growth tech stocks in the region pulling the major indices down at the opening of the markets. The bearish sentiment in Asian markets also affected the stocks in the EU. FTSE (-0.29%), CAC (-1.13%), DAX (-0.69%) , and the pan-EU index Stoxx-600 (1.22%) looked set to have a choppy session. 

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Triumph Bancorp Inc (TBK), Canadian Natural Resources Limited (CNQ), Six Flags Entertainment Corp (SIX), West Fraser Timber Co (WFG), Devon Energy Corp (DVN), Continental Resources Inc (CLR), Magnolia Oil & Gas (MGY), Antero Resources Corp (AR), SVB Financial Group (SIVB), Range Resources Corp (RRC), Designer Brands Inc (DBI), Digital Turbine Inc (APPS), and Overstock.com Inc (OSTK) among others. Signup, we have a 30-day free trial.

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Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Global Economy’s China Challenge!]]>https://openingbell.researchfin.ai/p/global-economys-china-challengehttps://openingbell.researchfin.ai/p/global-economys-china-challengeMon, 27 Sep 2021 11:33:29 GMTWelcome back! 

China’s electricity squeeze! At least 10 provinces in the mainland are facing power shortages, forcing factories to cut production. The phenomenon is not only further squeezing the global supply chains but is expected to result in a cut to GDP growth of 0.1 to 0.15 percentage points in Q3 and Q4. 

Crisis, far from over! The EV division of debt-ridden Evergrande has canceled its Shanghai listing, as bond-holders remain in limbo after the property developer missed a vital cost final week. The Hong Kong-listed stock of the EV company closed 10% lower, even after pairing most of the losses. $84bn wiped out of the company valuation since its April high. 

Don’t panic, the army is here! After the weekend of panic-gasoline-buying in the UK, the country might bring in the army to deliver fuel to stations. The spiraling crisis has also forced the UK to suspend the “Competition Law” to help Oil companies work together. FTSE rose this morning as oil company stocks soared. 

New Home Sales (SAAR), in August, has risen by 1.5% to a seasonally adjusted annual rate of 740,000. The rate was, however, 24.3% below the August 2020 reading of 977,000. 

Actor Leonardo DeCaprio backed, Swedish EV company Polestar, also backed by the Volvo Group, is set to go public in a SPAC deal at a valuation of $20bn. 

The “crime” called Crypto! Chinese government declares all virtual currency-related transactions illegal. Huobi, one of the world’s largest crypto exchanges, said it has stopped registering new users and will complete the removal of all Chinese users by the end of this year. Other exchanges to follow. Bitcoin was up 4.8%, Ethereum 10.4%.    

US Markets:

After a gloomy start to the week, stocks in the US managed to eke out some gains Friday, for the third day in a row, wrapping up the volatile week. 

S&P 500 (0.15%▲) managed to notch a little more than 6 points to close the day at 4455.48. Dow Jones (0.09%▲) gained more than 33 points.

Nasdaq (-0.03%▼) and Russel 2000 (-0.49%▼) could not, however, cash in on the overall positivity in the markets. 

Sectors at the S&P 500 ended mixed, with four out of the 11 sectors falling below the zero mark. 

Real Estate (-1.21%▼), was the worst-hit followed by  Utilities (-0.50%▼), Healthcare (-0.42%▼), and Materials (-0.15%▼).  

Energy (0.84%▲) gained the most, followed closely by Communication Services (0.68%▲) and Financials (0.54%▲).   

Technology (0.07%▲), Consumer Discretionary (0.31%▲), Industrials (0.16%▲), and Consumer Staples (0.21%▲), managed to eke out some gains as well.

Futures!

The Futures were mostly red, early Monday morning, as German elections, China’s power crisis, the fuel crisis in the UK, and rising energy costs will decide the course of the trading day.  

As of 06:30 ET, only Nasdaq Futures (-0.29%▼) was in red. Dow Futures ( 0.29%▲), S&P 500 Futures ( 0.05%▲), and Russel 2000 Futures ( 0.40%▲) made gains early in the day. 

Key Movers in Small Cap:

Meredith Corporation (MDP, 25.42%▲), as per media reports, is all set to be acquired by IAC Interactive Corp, in a deal valued at $2.5bn. The relative volume of the stock was 15.7. 

Progress Software Corporation (PRGS, 14.91%▲), in its Q3 financial results, crushed expectations and raised the outlook for the fiscal year. The relative volume of the stock was 8.3. 

Canoo Inc (GOEV, 21.83%▲) created some buzz on Reddit, following a post pointing out the strong short-squeeze potential the stock has. The relative volume of the stock was 6.2. 

Macquarie Infrastructure Corp (MIC, 0.47%▲) is planning to buy back senior notes and completes the divestment of Atlantic Corporation.  

InnovAge Holding Corp (INNV, 6.51%▲) eked out some gains after tanking substantially, amid an investigation pertaining to a potential securities violation. The relative volume of the stock was 3.3. 

The other movers in the small-cap segment included: 

Secureworks Corp (SCWX, -20.75▼): Relative Volume 5.4.

Celcuity Inc (CELC, -12.10%▼): Relative Volume 3.4.

Brookdale Senior Living Inc (BKD, -5.78%▼): Relative Volume 3.3.

Keros Therapeutics Inc (KROS, 7.18%▲):  Relative Volume 3.2.

OrthoPediatrics Corp (KIDS, -1.58%▼):  Relative Volume 3.1.

Key Movers in Large Cap:

After falling on anticipated losses on broadband internet customers, Altice USA Inc (ATUS, -6.71%▼) further plunged as analysts downgraded the stock. The relative volume of the stock was 3.6. 

Acceleron Pharma Inc (XLRN, 4.89%▲) is in advanced talks to be acquired by a large pharma company for a deal worth $11bn, or $180 per share. The relative volume of the stock was 3.2. 

Vail Resorts Inc (MTN, 7.37%▲) reported financial results for Q4, beating estimates on the top and bottom line. The relative volume of the stock was 2.6. 

The other movers in the large-cap segment included: 

Nike Inc (NKE, -6.26%▼): Relative Volume 3.7.

Arch Capital Group (ACGL, 0.46%▲): Relative Volume 2.9.

Deckers Outdoors Corp. (DECK, -8.96%▼): Relative Volume 2.3.

LPL Financial Holdings Inc (LPLA, 1.53%▲):  Relative Volume 2.1.

Hyatt Hotels Corporation (H, 3.58%▲): Relative Volume 2.1.

Report Card:

Progress Software Corporation (PRGS, 14.91%▲) reported a 40% jump, y-o-y, in revenue to $152.6m, with a profit of $1.18 per share, beating the estimates of $131m in revenue and 82 cents in profit per share. The stock remained flat after hours. 

The net income of Vail Resorts Inc (MTN, 7.37%▲) reported a loss of $3.49 per share, narrower than the estimated $3.64 and the prior year’s $3.82. The revenue of $204.2m was up 164.5% on a y-o-y basis and more than the estimated $177m. The stock remained flat after hours. 

On the Lookout:

The Durable Goods Orders, for the month of August, are due today with a previous print of -0.1%. The Core Capital Goods Orders has a previous print of 0.1%. 

Fed Governor, Lael Brainard, is scheduled to speak about the economic outlook at the annual meeting of the National Association of Business Economics.    

The investment management software provider, Allvue Systems Holdings, aims to raise $275m by offering 15.3m shares of its common stock, priced between $17 and $19. 

The digital optimization company, Amplitude, is offering 35.3m shares of its common stock, priced at $35 per share. 

The First Watch Restaurant Group, is looking to raise $218m by offering 9.4m shares of its common stock, priced between $17 and $20. 

Unusually high shorter-term CALL options activity seen on Canoo Inc (GOEV, 21.83%▲), International Game Technology (IGT, 5.55%▲), Draft Kings Inc (DKNG, -0.81%▼), Salesforce.com Inc (CRM, 2.80%▲), and Prologis Inc  (PLD, -0.73%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Gap Inc (GPS, -1.16%▼), Energy Transfer LP Unit (ET, -2.21%▼), United States Steel Corp (X, -0.14%▼), General Electric Company (GE, 0.89%▲) and Skillz Inc (SKLZ, -0.18%▼) among others.

Other Asset Classes:

Crude Oil Prices - Global output disruptions, rising shipping costs, and shrinking US inventories propelled prices to an almost three-year high on Friday. Monday morning the winning streak continued, for the fifth consecutive day as Brent crude was trading 1.18% higher and over $79 per barrel mark. WTI crude is approaching the $75 per barrel mark. 

The US Dollar (93.46, 0.15%▲) has been oscillating, in a narrow range, between the 93 and 93.50 marks, for the most part of the past week. The gains made after the outcome of Wednesday’s FOMC meeting were not long-lasting either. 

Ahead of Fed Governor’s address today, the US Treasury Yields gave up some gains but are still substantially higher than what they were last week. This morning, the 10 Year US Treasury Yield was trading at 1.449%, well ahead of Friday morning’s 1.422%.

Global Markets:

Asian Markets: The surging Energy prices and the risks looming large from China’s financial system kept nagging at the investors’ minds, leading to mixed markets in the region on Monday. Tokyo’s Nikkei, closed falt with a downward bias of 0.03%, along with Shanghai, which closed 0.84% lower. Hang Seng also closed flat with an upward bias of 0.07%. The Indian market closed flat, with a positive bias, as Sensex rose 29 points (0.05%), and Nifty closed at an all-time high of 17855.10, up 1.90 points. A gain in Auto stocks and a crack in the IT sector held the indices in balance.

European markets: The border EU markets cheered a surge in Crude prices that propelled the Oil stocks, while stocks in Germany rose to a 10-day high after the outcome of the Federal election reduced the chances of a left-wing coalition forming the government.  FTSE (0.30%), CAC (0.62%), DAX (0.90%) , and the pan-EU index Stoxx-600 (0.36%) looked set to start the week on a positive note.  

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Group 1 Automotive Inc (GPI), Penske Automotive Group (PAG), Salesforce.com Inc (CRM), ONEOK Inc (OKE), Hyatt Hotels (H), Travel + Leisure Co (TNL), Marriot Vacations Worldwide (VAC), Cabot Oil & Gas (COG), and AutoNation Inc (AN) among others. Signup, we have a 30-day free trial.

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Calm Before the Storm! ]]>https://openingbell.researchfin.ai/p/calm-before-the-stormhttps://openingbell.researchfin.ai/p/calm-before-the-stormFri, 24 Sep 2021 11:36:12 GMTGood Morning! 

Uncertainty looms large! The Thursday deadline of Evergrande’s $84m offshore coupon payment passed off quietly, without the payments being made and the investors were left wondering about the future. The company remains tightlipped! The stock of the embattled company dropped 12% after a 17% rally Thursday. China Evergrande New Energy Vehicle Group plummeted 25%. 

The authorities in the mainland have asked officials to prepare for a “possible storm”, in case the Evergrande collapses. Media reports suggest the government has cautioned officials to only step in at the last minute to prevent a spill-over from Evergrande’s demise.  

The Bank of England has left its interest rates unchanged and bond-buying program of $1.2tr intact, for now, even as the consensus on tapering grows with Deputy Governor, Dave Ramsden, voting for an early end to the bond-buying program. BoE has also downgraded growth projections and thinks inflation might rise up to 4%. FTSE slid on Friday.  

Initial Jobless Claims (regular state program), for the week ended September 18, totaled 351,000 worse than the expected 320,000 and last week’s 332,000. The Continuous Jobless Claims have increased by 181,000 to 2.84m, lower than last week’s 2.85m. 

The economic activity continued to expand in September but at a slower rate than August, as the US Markit Manufacturing PMI (flash) declined to 60.5 from the previous print of 61.1. Analysts were expecting the print to be 62.5. 

Crypto’s China woes! China’s Central Bank has vowed to crack down on illegal activities of Crypto trading, by banning overseas exchanges from providing services to investors in the mainland, via the internet. Bitcoin fell 5%. 

Also, Robinhood is preparing to launch a Crypto Wallet, as early as next month, allowing users to send and receive digital currency, and trade in it as well. 

US Markets:

With the Fed’s taper worries fading, the markets were propelled compensating the losses for the week, with Dow Jones (1.48%▲) gaining more than 500 points completing its biggest two-day rally in six months.  

S&P 500 (1.21%▲) gained more than 50 points, while the Russel 2000 (1.82%▲) and Nasdaq (0.92%▲), managed to post some decent gains as well. 

All sectors at the S&P 500 ended in the green, barring Utilities (-0.50%▼). 

Energy (3.42%▲) was again at the top of the sectoral indices, followed by Financials (2.50%▲), and Materials (2.23%▲).   

Sectors with a gain of more than 1% included Technology (1.35%▲), and Consumer Discretionary (1.02%▲), and Industrials (1.55%▲). 

Healthcare (0.77%▲), Consumer Staples (0.39%▲), Communication Services (0.82%▲), and Real Estate (0.37%▲) made some gains as well.

Futures!

As the Evergrande crisis deepened every minute, the Futures looked gloomy with all major indices in the red zone. 

As of 06:30 ET, the indices looked like this: Nasdaq Futures (-0.49%▼), Dow Futures (-0.26%▼), S&P 500 Futures (-0.35%▼), and Russel 2000 Futures (-0.47%▼).

Key Movers in Small Cap:

Eargo Inc (EAR, -68.34%▼) is the target of a US Department of Justice investigation regarding insurance payments and a claims audit by an insurer that is also the company’s largest customer. The relative volume of the stock was 71.9.

Nationally ranked shareholder rights firm, Labaton Sucharow, will investigate InnovAge Holding Corp (INNV, -22.74%▼) for a potential securities violation. The relative volume of the stock was 5.8.

Safehold Inc (SAFE, 4.06%▲) has priced an unwritten public offering of 2.2 shares of its common stock, at $76 per share. The relative volume of the stock was 5.6.

International Game Technology (IGT, 5.26%▲) got its target updated from $35 to $36, fuelling the stock Thursday. The relative volume of the stock was 5.0.

The other movers in the small-cap segment included: 

RPT Realty (RPT, 1.33%▲): Relative Volume 8.8.

NanoString Technologies Inc (NSTG, -5.13%▼): Relative Volume 4.3.

Summit Therapeutics Inc (SMMT, 3.86%▲): Relative Volume 4.2.

Canoo Inc (GOEV, 13.28%▲):  Relative Volume 4.2.

Rite Aid Corporation (RAD, -6.63%▼):  Relative Volume 4.0.

Key Movers in Large Cap:

Hyatt Hotels Corporation (H, 2.36%▲) announced the pricing of its public offering of 7m shares of its Class A common stock, at $74.50 per share. The relative volume of the stock was 10.2.

Ardagh Group SA (ARD, 3.45%▲) has announced a special cash dividend of $1.25 a share. The relative volume of the stock was 5.9.

Altice USA Inc (ATUS, -12.67%▼) warned that the company will report a net loss of broadband subscribers for the current quarter. The relative volume of the stock was 4.9.

Quantumscape Corp (QS, 14.57%▲) Thursday cashed in on the buoyancy in EV companies, following social media buzz about the EV space surpassing all other hit sectors, including Crypto. The relative volume of the stock was 4.9.

The other movers in the large-cap segment included: 

Grocery Outlet Holding (GO, -1.27%▼): Relative Volume 5.1.

Rexford Industrial Realty (REXR, -2.06%▼): Relative Volume 4.1.

Darden Restaurants Inc (DRI, 6.11%▲): Relative Volume 3.1.

Signify Health Inc (SGFY, -14.24%▼):  Relative Volume 3.0.

Salesforce.com Inc (CRM, 7.21%▲): Relative Volume 2.8.

Report Card:

The IT services and consulting company, Accenture Plc (ACN, 2.49%▲) reported earnings of $2.20 per share, an 11% increase y-o-y and ahead of the estimated $2.19. The revenue of $13.4bn was up 24% compared to the prior year. The stock remained flat after hours.  

Darden Restaurants Inc (DRI, 6.11%▲) reported earnings of $1.76, per share, ahead of the expected $1.65 per share. Sales jumped 51% y-o-y to $2.3bn, and ahead of the estimated $2.2bn. Same-store sales increased 47% y-o-y. The stock remained flat after hours.

Nike Inc (NKE, 1.36%▲) reported diluted earnings of $1.16 per share, a 22% increase y-o-y, while the revenue increased 16% y-o-y to $12.2bn. Direct sales of the company came out at $4.7bn, up 28% on a y-o-y basis. The stock, however, tumbled by a little less than 4% after hours.   

The pharmacy chain, Rite Aid Corporation (RAD, -6.63%▼), reported a 2.2% y-o-y increase in revenue to $6.11bn, falling short of the estimated $6.21bn. The company came out with a net loss of $22m, or $0.41 per share, a disaster when compared to the prior year’s income of $13.5m, or $0.25 per share. The stock slid by 0.21% after hours.     

On the Lookout:

Fed Chair, Jay Powell, will give his opening remarks, while the Cleveland Fed President, Loretta Mester will speak to the bankers. 

New Home Sales (SAAR) is expected to grow from July’s 708,000 to 720,000 in the month of August. 

An investment management software company, Clearwater Analytics Holdings, is targeting an enterprise valuation of nearly $4bn as it aims to raise $450m by offering 30m shares of its common stock, priced between $14 and $16.  

Cue Health is aiming to raise up to $100m by offering 12.5m shares of its common stock, priced between $15 and $17. 

Unusually high shorter-term CALL options activity seen on Quantumscape Corp (QS, 14.57%▲), Draftkings Inc (DKNG, -1.67%▼), Robinhood Markets Inc (HOOD, -2.01%▼), Take-Two Interactive Software (TTWO, 0.98%▲), and American Eagle Outfitters (AEO, 3.37%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Tesla Inc (TSLA, 0.23%▲), Darden Restaurants Inc (DRI, 6.11%▲), General Electric Company (GE, 4.49%▲), AES Corp (AES, -0.55%▼) and Futu Holdings Ltd (FUTU, -0.11%▼) among others.

Other Asset Classes:

Crude Oil Prices - Supported by the global output disruptions and inventory draws, Crude Oil is heading for its third straight week of gains, aiming at the $80 per barrel mark. Early Friday morning Brent crude was trading well above the $77 per barrel mark and into the green zone, while WTI crude breached the $73 per barrel mark. 

The US Dollar (93.16, -0.33%▼) dropped the most since late August on Thursday but has paired some of the losses since and was trading above the 93 mark, but into the red territory early Friday morning.  

As the Evergrande concerns ease and stocks soar higher, the US Treasury Yields also made substantial gains on Thursday and early Friday morning. This morning, the 10 Year US Treasury Yield was trading at 1.422%, well ahead of Thursday morning’s 1.335%.

Global Markets:

Asian Markets: Rising delta variant cases across the world and lingering concerns surrounding Chinese developer Evergrande, in the Asia Pacific left investors on the edge. Most of the Asian markets slid into the red zone Friday. Tokyo’s Nikkei, advanced by over 600 points, or 2.06%, while Shanghai and Hang Seng slid by 0.80% and 1.30% respectively. Indian market is still aloof from the Evergrande crisis. Sensex breached the crucial 60k mark for the first time ever Friday and Nifty attained yet another record high of 17,853. Bank and IT indices propelled the market, even as the metal index plunged.

European markets, after three positive sessions in a row, finally seem to have succumbed to the Evergrande fiasco, as the major indices looked set to end the week in the red. Bank-of-England downgrading growth projections also played on the investors’ minds.  FTSE (-0.37%), CAC (-0.98%), DAX (-0.77%) , and the pan-EU index Stoxx-600 (-0.77%) looked set to end the week on a negative note.  

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Hilton Grand Vacations Inc (HGV), Manchester United (MANU), Avis Budget Group Inc (CAR), SPDR Bloomberg Barclays (GTLS), Diamondback Energy Inc (FANG), Magnite Inc (MGNI), Nektar Therapeutics, (NKTR), Antero Resources Corp (AR), Legend Biotech Corp (LEGN) and Joby Aviation Inc (JOBY) among others. Signup, we have a 30-day free trial.

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

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Enjoy your weekend! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[The ‘Chips’ are Down! ]]>https://openingbell.researchfin.ai/p/the-chips-are-downhttps://openingbell.researchfin.ai/p/the-chips-are-downThu, 23 Sep 2021 11:34:10 GMTGood Morning! 

Tiny things bringing giants down! A forecast suggests that the semiconductor chip shortage is going to cost global auto-makers $210bn in revenue this year, almost double the May forecast. 7.7m units of production will be lost in 2021. 

How soon is soon? Following the two-day FOMC meeting, the Fed has kept interest rates anchored near zero. The officials indicated the stimulus tapering, or reduction in the monthly asset purchases, will begin “soon”, without giving out a timeline. Also, half of the Fed officials expect the first interest rate increase in 2022, up from just 7 in June. 

Norway does it, however! The country has become first among the G10 currencies group - 10 of the world’s most traded currencies - to have tightened its monetary policy since the outbreak of the pandemic. The Bank of England is expected to keep interest rates unchanged and announce a taper in the bond-buying program, later today. 

Coming back from the dead? Debt-ridden Chinese developer, Evergrande, has made a comeback from the verge of a collapse with a 17.62% gain in today’s trading - after the group’s chairman vowed to help wealth investors redeem their products. The stock is still down 80% year-to-date. 

Concerns linger though. The September 23, key - $35.9m onshore coupon - payment deadline for the embattled group has ignited sales in the $428bn corner of the Asian bond market. Investors have their fingers crossed!   

Existing Home Sales (SAAR), for the month of August, have declined 2% from July to a seasonally adjusted 5.88m units. Sales were 1.5% lower than August 2020, the first annual decline in 14 months.  

Goal! Dutch football club PSV has announced a partnership with Bitcoin exchange, Anycoin Direct propelling the hammered CryptoCurrency on Thursday. PSV will pay its entire sponsorship in Bitcoin. Ethereum soared 6.6%, Bitcoin 4%.  

US Markets:

The Central Bank commentary, post the two-day FOMC meeting, propelled the markets to snap a 4-day losing streak on Wednesday. Indices were green at the close, across the board. 

S&P 500 (0.95%▲) gained more than 40 points to end the day at 4395.64. Dow Jones (1.00%▲) notched more than 338 points for the day.  

Russel 2000 (1.48%▲) and Nasdaq (0.99%▲), managed to post some decent gains as well. 

Sectors at the S&P 500 ended mixed with Materials (-3.95%▼) falling, yet again, to the bottom, and Energy (3.16%▲) finishing at the top. 

Financials (1.58%▲), Technology (1.40%▲), and Consumer Discretionary (1.31%▲) posted some decent gains, followed by Industrials (0.96%▲), Healthcare (0.09%▲), and Consumer Staples (0.26%▲). 

Communication Services (-0.01%▼), Utilities (-0.11%▼), and Real Estate (-0.04%▼) followed Materials to the red zone.  

Futures!

The Futures are pointing towards an extended rally in the markets, as the Evergrande fears are subsiding, and the Asian and the EU markets lift the spirits. 

As of 07:00 ET, the indices looked like this: Nasdaq Futures (0.55%▲), Dow Futures (0.45%▲), S&P 500 Futures (0.52%▲), and Russel 2000 Futures (0.75%▲).

Key Movers in Small Cap:

Law Offices of Howard G. Smith have initiated an investigation into InnovAge Holding Corp (INNV, -24.89%▼), on behalf of the investors concerning the company’s possible violation of Federal securities law. The relative volume of the stock was 15.3.

Inotiv Inc (NOTV, -31.68%▼) tumbled a day after soaring on the announcement of acquiring Envigo RMS Holdings. The relative volume of the stock was 11.5. 

RBC Bearings Inc (ROLL, 5.43%▲) Wednesday priced the previously announced public offering of 3m shares, at $185 per share. The relative volume of the stock was 8.6. 

Clover Pharmaceuticals, a collaboration partner of Dynavax Technologies (DVAX, 26.45%▲), reported positive results from the pivotal Spectra trial with its Covid-19 vaccine candidate, SCB-2019. The relative volume of the stock was 6.5.

The FDA does not agree with a change Summit Therapeutics (SMMT, -20.-06%▼) made to the primary endpoint of a phase 3 trial of its Ridinilazole antibiotic drug candidate. The relative volume of the stock was 5.3. 

The other movers in the small-cap segment included: 

Alpine Immune Sciences Inc (ALPN, 8.78%▲): Relative Volume 5.0.

Atreca Inc (BCEL, -0.89%▼): Relative Volume 4.1.

Hemisphere Media Group (HMTV, 5.62%▲): Relative Volume 3.8.

Stitch Fix Inc (SFIX, 15.65%▲):  Relative Volume 3.7.

Edgewise Therapeutics Inc (EWTX, 10.48%▲):  Relative Volume 3.6.

Key Movers in Large Cap:

FedEx Corporation (FDX, -9.12%▼) underwent the biggest selloff in 18 months, following a dismal earnings report and the subsequent target slashing by the analysts. The relative volume of the stock was 6.7.

Americold Realty Trust (COLD, -1.80%▼) reached a new 52-week low on Wednesday after its price target was lowered. The relative volume of the stock was 4.2.

Incyte Corporation (INCY, -8.51%▼) tumbled despite announcing an FDA approval for Opzelura, its topical treatment for mild to moderate atopic dermatitis, in patients 12 and older. The relative volume of the stock was 4.0.

Hyatt Hotels Corporation (H, 2.36%▲) has announced a public offering of 7m shares of its Class A common stock. The relative volume of the stock was 3.9.

Signify Health Inc (SGFY, -8.30%▼) Wednesday entered the “oversold” territory, hitting an  RSI reading of 29.5. The relative volume of the stock was 3.7.

The other movers in the large-cap segment included: 

Bill.com Holdings Inc. (BILL, 0.07%▲): Relative Volume 3.5.

Facebook Inc (FB, -3.99%▼): Relative Volume 2.9.

Adobe Inc (ADBE, -3.07%▼): Relative Volume 2.5.

The Chemours Company (CC, 0.56%▲):  Relative Volume 2.1.

Peloton Interactive Inc (PTON, -6.31%▼): Relative Volume 1.9.

Report Card:

A manufacturer of branded consumer foods, General Mills Inc (GIS, 3.29%▲), reported an adjusted EPS of 99 cents, lower 2% y-o-y, but well above the consensus estimate of 88 cents per share. Net Sales of $4539.9m increased 4% y-o-y and were well above the estimated $4352.3m. The stock rose by more than half a percent after hours. 

The home building company, KB Home (KBH, 0.74%▲), reported a 47% y-o-y increase in revenue to $1.47bn, its highest revenue for the Q3 in 14 years. Diluted earnings per share of the company grew 93% y-o-y to $1.60. The stock continued to rise after hours. 

Amid strong demand for its CyberSecurity products, BlackBerry Limited (BB, 2.03%▲), reported earnings of -$144m, versus last year’s -$23m in the same period last year, while the EPS came out to be -$0.25, compared to the -$0.04 in the prior year. Analysts had projected an EPS of -$0.07. The stock soared more than 6% after hours. 

The adhesives manufacturing company, HB Fuller (FUL, 0.95%▲), reported earnings of $0.79 per share, ahead of the estimated $0.77 per share. The revenue of $826.83m topped the consensus estimate by 3.71%. The stock rose by more than 2.5% after hours. 

On the Lookout:

Initial Jobless Claims (regular state program) is expected to come down, for the week ended September 18, from last week’s 332,000 to 320,000. The Continuous Jobless Claims, have a previous print of 2.85m. 

The Markit Manufacturing PMI (flash), for the month of September, is expected to increase from August’s 61.1 to 61.7. The Markit Services PMI (flash), is expected to drop from August’s 55.1 to 54.9.  

The food company, Sovos Brands, is looking to raise $429.3m by offering 23.3m shares of its common stock, priced between $14 and $16 per share. 

A global provider of a background screening, Sterling Check, is set to raise $300m by offering 14.2m shares of its common stock, priced between $20 and $22. 

New York-based, Thorne HealthTech, is aiming to raise $74m by offering 7m shares of its common stock, priced between $10 and $11 per share.  

Unusually high shorter-term CALL options activity seen on Marin Software Inc (MRIN, 61.86%▲), Facebook Inc (FB, -3.99%▼), Pitney Bowes Inc (PBI, 6.18%▲), United States Steel Corp (X, 0.04%▲), and Barrick Gold Corporation (GOLD, -0.22%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on MGM Resorts International (MGM, 6.09%▲), Lowe’s Companies Inc (LOW, 1.27%▲), DRaftkings Inc (DKNG, -0.27%▼), Snap Inc (SNAP, 3.30%▲) and Vale SA (VALE, 3.40%▲) among others.

Other Asset Classes:

Crude Oil Prices - US Crude inventories have fallen by 3.5m barrels to 414m barrels, the lowest since October 2018. The news sent Crude Oil prices further up on Wednesday, while Thursday morning the prices still traded in the green zone. Brent crude was trading well above the $76 per barrel mark, while WTI crude traded above the $72 per barrel mark. 

The US Dollar (93.21, -0.27%▼) retreated considerably from the monthly high of 93.50 levels as investors try to adjust to the outcome of the FOMC meeting, that concluded Wednesday.

With Fed saying it might soon taper on its bond-buying program, The US Treasury Yields slumped Wednesday. Today, however, the yields advanced to recover some of the gains. Early Thursday morning, the 10 Year US Treasury Yield was trading at 1.335%, in the green zone, but lower than Wednesday morning’s 1.338%.

Global Markets:

Asian Markets: The easing of fears, about the collapse of Chinese developer Evergrande, led the markets in the Asia Pacific region mostly higher on Thursday. The investors also responded to the Fed’s Wednesday commentary positively. Shanghai climbed 0.38%, as Hang Seng advanced by a healthy 1.1%. Tokyo’s Nikkei, however, shed more than 200 points, down 0.67%.  

European markets looked all set for a third consecutive rally, as the market opened Thursday, amid easing Evergrande-fears. The investors also awaited the last batch of economic data.  FTSE (0.54%), CAC (0.93%), DAX (1.03%) , and the pan-EU index Stoxx-600 (1.00%) looked set to have another gaining day.  

Indian Market: While the global markets made decent gains, the Indian market soared to new heights Thursday. Sensex soared by 958 points to attain a lifetime high of 59885.36, up 1.63%. Nifty also breached the 17,800 mark, for the first time ever, and ended at 17,843.90 - up 1.57%. The stocks were majorly propelled by the Nifty Realty index which rose by more than 8%, and the Nifty Financial Services gaining a little less than 3%.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Group 1 Automotive Inc (GPI), Penske Automotive Group (PAG), Goosehead Insurance Inc (GSHD), ConocoPhilips (COP), Travel + Leisure Co (TNL), Controladora Vuela Co (VLRS), Intra-Cellular Therapies Inc (ITCI), and AutoNation Inc (AN).  . Signup, we have a 30-day free trial.

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Plugging the Dam! ]]>https://openingbell.researchfin.ai/p/plugging-the-damhttps://openingbell.researchfin.ai/p/plugging-the-damWed, 22 Sep 2021 11:37:32 GMTGood Morning! 

The injection is treatment, not cure! People’s Bank of China has injected $18.6bn into the financial system as the Evergrande-debt crisis roiled the global markets. Shanghai, Hang Seng respond positively.  

Doing their bit! Embattled Evergrande’s main unit, Hengda Real Estate Group, has said it would make a $35.9m onshore coupon payment, on Thursday, bringing some much-needed relief to the jittery investors. 

The ‘soft’ push! Japan’s Soft Bank has is now backing the private equity fund set up by former US Treasury secretary, Steven Mnuchin - following earlier backing by Saudi’s Public Investment Fund and Abu Dhabi’s Mubadala. Mnuchin set up the fund recently, after serving 4 years in the Trump administration.  

Game - Stop! A one-time darling of the meme-stock lovers, Game Stop, seems to have fallen out of favors, as the stock has tanked more than12% this month thus far worse than the 2% drops in S&P 500 and Nasdaq. The stock is down 46% since hitting a record high on January 27. 

Building Permits (SAAR), for the month of August, have been reported to be 1.72m, 6% above the revised 1.63m in July and ahead of the expected 1.62m. The Housing Starts (SAAR) came out at 1.61m, a 3.9% increase from July’s 1.53m, and ahead of the estimated 1.55m. 

Japan’s Mitsubishi Group is set to sell the retail banking division of its US regional MUFG Union Bank to US Bancorp in a cash and shares deal, worth around $8bn. US Bancorp shares were up 2.55% Tuesday.  

Heart in the mouth moment! Pyth, a CryptoCurrency data network run by some of Wall Street's biggest players, showed a roughly 90% plunge in Bitcoin and briefly reported the price at $5402. The glitch, now being investigated by engineers, did not show on other networks. 

US Markets:

After Monday’s steep selloff, triggered by the Evergrande crisis, the stocks attempted a rebound as all major indices opened in green Tuesday morning. 

A volatile day, however, ended mixed with S&P 500 (-0.08%▼) and Dow Jones (-0.15%▼) closing in the negative territory. 

Russel 2000 (0.18%▲) and Nasdaq (0.10%▲), managed to cling on to early gains and closed in the green zone. 

Like the indices, sectors at the S&P 500 ended mixed as well, with negative sectors outnumbering the positive ones by three. 

Energy (0.37%▲), Technology (0.03%▲), Healthcare (0.15%▲), and Consumer Discretionary (0.08%▲) were the gaining sectors.  

Materials (-3.95%▼) was the worst hit among the eleven sectors, with steep losses. 

Financials (-0.14%▼), Communication Services (-0.34%▼), Industrials (-0.70%▼), Consumer Staples (-0.11%▼), Utilities (-0.23%▼), and Real Estate (-0.04%▼) followed Materials to the red zone.  

Futures!

The Futures look set for a gaining day, ahead of the Fed statement, with all major indices in green.  

As of 07:00 ET, the indices looked like this: Nasdaq Futures (0.35%▲), Dow Futures (0.62%▲), S&P 500 Futures (0.58%▲), and Russel 2000 Futures (0.80%▲).

Key Movers in Small Cap:

Solid Biosciences Inc (SLDB, 20.30%▲) is preparing to present long-term data for three patients in a phase 1/2 study of its treatment for Duchenne Muscular Dystrophy, at the World Muscle Society Virtual Congress. The relative volume of the stock was 30.8.

RBC Bearings Inc (ROLL, -12.18%▼) Tuesday became oversold, with an RSI reading of 22, after it announced that it has commenced concurrent public offerings of 3m shares of its common stock. The relative volume of the stock was 22.0.

Instead of the awaited approval of its lead candidate VP-102, Verrica Pharmaceuticals Inc(VRCA, -8.31%▼) received a letter from the FDA, citing manufacturing deficiencies. The relative volume of the stock was 7.4.

Stoke Therapeutics (STOK, 5.71%▲) announced positive interim data from phase 1/2A Monarch study in STK-001 in children and adolescents with DRavet syndrome. The relative volume of the stock was 6.0.

Inotiv Inc (NOTV, 35.64%▲) and Envigo RMS Holding Tuesday jointly announced that they have entered an agreement wherein Inotiv will but Envigo. The relative volume of the stock was 5.0.

The other movers in the small-cap segment included: 

AerSale Corporation (ASLE, 8.13%▲): Relative Volume 12.3.

Cloudera Inc (CLDR, -0.06%▼): Relative Volume 5.0.

InnovAge Holding Corp (INNV, -8.34%▼): Relative Volume 4.9.

Tegna Inc (TGNA, 10.76%▲):  Relative Volume 4.4.

Simulations Plus Inc (SLP, 0.77%▲):  Relative Volume 4.2.

Key Movers in Large Cap:

Quantumscape Corp (QS, 16.02%▲) is already finding takers for its battery technologies, including some of the world’s largest automakers, regardless of the fact that its prime product is still in the developmental stage. The relative volume of the stock was 6.2.

Uber Technologies Inc (UBER, 11.49%▲) has boosted its financial forecast from a loss of $100m to $25m. The relative volume of the stock was 4.1.

Media reports suggested that DraftKings Inc (DKNG, -7.42%▼) made a bid to acquire global competitor Entain. The relative volume of the stock was 3.8.

The Walt Disney Company (DIS, -4.17%▼) Tuesday disclosed a disappointing forecast for growth in its Disney+ division.  The relative volume of the stock was 2.9.

The other movers in the large-cap segment included: 

Acceleron Pharma Inc (XLRN, 9.85%▲): Relative Volume 5.0.

Flower Foods Inc (FLO, 0.30%▲): Relative Volume 3.5.

AmeriCold Realty Trust (COLD, -8.29%▼):  Relative Volume 2.8.

Oshkosh Corporation (OSK, -3.50%▼): Relative Volume 2.7.

Bill.com Holdings Inc. (BILL, -3.39%▼): Relative Volume 2.4.

Report Card:

Adobe Inc (ADBE, 0.72%▲) reported a Q3 adjusted EPS of $3.11, ahead of the prior year’s $2.57 and the consensus estimate of $3 per share. The revenue of $3.94bn surpassed the estimates by 1.41%. The stock fell by more than 4% after hours. 

FedEx Corporation (FDX, 0.51%▲) came out with a net income of $1.19bn, or $4.37 per share, considerably lower than the prior year’s $1.28bn or $4.87 per share. The revenue of the company came out at $22.0bn, beating the estimated $21.8bn. The stock fell by a little less than 5%. 

Online shopping and styling service Stitch Fix Inc (SFIX, -2.50%▼) reported an EPS of 19 cents, beating the estimated loss of 13 cents per share hands down. Revenue of $571.2m was also well ahead of the expected $548m. The stock soared more than 13% after hours. 

On the Lookout:

The two-day FOMC meeting will end today, and apart from the statement by the Fed Chair Jay Powell is scheduled to address the media as well. 

Existing Home Sales (SAAR), for the month of August, is expected to drop from the previous print of 5.99m to 5.87m.

The Silicon Valley software start-up, Freshworks, is eyeing a $10bn valuation as it is set to raise around $1bn by selling 28.5m shares of its common stock, priced between $32 and $34. 

Cornell Capital LLC-backed Knowlton Development Corporation, is looking to raise $857m by offering 57.1m shares of its common stock, priced between $13 and $15. 

Fintech company, Remitly Global, aims to raise $332m on a valuation of $6.5bn, by offering 12.1m shares of its common stock, priced between $38 and $42 per share.

Unusually high shorter-term CALL options activity seen on Indie Semiconductor (INDI, 14.17%▲), Lucid Group Inc (LCID, 11.38%▲), MGM Resorts International (MGM, -1.77%▼), Walt Disney Co (DIS, -4.24%▼), and Best Buy Co (BBY, 0.22%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on AMC Entertainment Holdings (AMC -3.65%▼), Taiwan Semiconductor (TSM, 0.23%▲), Uber Technologies Inc (UBER, 11.49%▲), Upstart Holdings Inc (UPST, 9.30%▲) and Corvus Pharmaceuticals (CRVS, 38.25%▲) among others.

Other Asset Classes:

Crude Oil Prices - Signals of tightening supply and growing global demand, the Crude Oil prices continued an upward rally Wednesday morning. Brent crude gained more than 1.4% early morning and was trading well above the $75 per barrel mark, while WTI crude traded 1.60% higher. 

The US Dollar (93.23, 0.03%▲) looked to extend the upward momentum, early Wednesday morning, ahead of the Fed statement, scheduled later in the day as the FOMC meeting concludes.  

The US Treasury Yields Wednesday morning climbed as all eyes remain fixed on the outcome of the ongoing Fed meeting. The 10 Year US Treasury Yield was trading at 1.338, in the green zone, and considerably higher than Tuesday’s 1.328%.

Global Markets:

Asian Markets: The markets were mixed as investors await the Fed’s assessment of the US economy, while a looming shadow of the Evergrande crisis continued to make the investors nervous. Tokyo’s Nikkei shed more than 200 points, down 0.67%.  Shanghai climbed 0.37%, as Hang Seng also made decent gains of more than 120 points or 0.51%.

Evergrande’s bond-payment update and a rally in travel and leisure stocks led the European markets to a positive start, early Wednesday morning. All major indices were buoyed as investors have a keen eye on the outcome of the Fed meeting. FTSE (0.91%), CAC (0.94%),DAX (0.47%) , and the pan-EU index Stoxx-600 (0.53%) looked set to have another gaining day.

Indian Market: The Indian stock market has so far remained resilient to the global Evergrande-Selloff. After making decent gains on Tuesday, the trading remained volatile today and the indices ended flat with a negative bias. Sensex slid 78 points or 0.13%, while Nifty closed 15 points lower or 0.09%. Gains in some sectors, including IT, Auto, and Metals minimized the losses. 

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Tempur Sealy International Inc (TPX), Kornit Digital Limited (KRNT), Warner Music Group (WMG), Intra-Cellular Therapies  Inc (ITCI), and Nektar Therapeutics (NKTR). Signup, we have a 30-day free trial.

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[The Evergrande Stampede! ]]>https://openingbell.researchfin.ai/p/the-evergrande-stampedehttps://openingbell.researchfin.ai/p/the-evergrande-stampedeTue, 21 Sep 2021 11:44:30 GMTGood Morning! 

The rout is spreading beyond borders, as the 500 richest people in the world lost a collective $135bn on Monday - with concerns, vis-a-vis the Evergrande fiasco, triggering a sell-off. Elon Musk lost $7.2bn, and the net worth of Jeff Bezos came down by $5.4bn. 

And it isn’t getting any better. If the S&P Global rating report is to be believed, it is highly unlikely that Beijing will provide any direct support to the embattled developer Evergrande. The report says Beijing will only intervene if the contagion spreads and poses a systematic threat to the economy. 

The buffer! Overseas investors are showing keen interest in the US bonds, which might help soften the blow when the Fed actually begins to taper the bond-buying program. In August, 25% of the 10 Year-US Treasury notes were bought by foreign investors, 16% in July. 

Robinhood, Squared! In direct competition to two major stock trading platforms, Robinhood and Square, the $33bn fintech startupRevolut is set to offer commission-free stock trading in the US. 

Buy Now Pay Later! This sector of e-commerce is already into the $100bn industry. In 2020, the BNPL accounted for 2.1% - or $97bn - of all global e-commerce transactions. Giants like Amazon, Apple, and Square are venturing into the industry and it can only get bigger from here.  

India shining! The Indian Stock market might surpass the UK as the world’s fifth-largest stock market in just three years here on, as the country’s startups managed to raise $10bn in IPOs so far this year. In the next 36 months, 150 firms could potentially list on the stock market, adding as much as $400 in market value. 

US Markets:

In sync with the global stocks, the US stocks began the week with a broad pullback with S&P 500 (-1.7%▼) recording its worst day since May 12. The broadest index presently sits 4.1% lower than its record high.  

A day ahead of the FOMC meeting, other indices suffered heavy losses as well. Dow Jones (-1.8%▼) plummeted more than 610 points, its biggest one-day drop since July 19. Russel 2000 (-2.44%▼) shed a little less than 55 points. 

Nasdaq (-2.2%▼) shed more than 320 points as growth stocks were some of the hardest hit. 

It was a bloodbath in the sectors at the S&P 500, with not even a single sector in green. 

Materials (-3.95%▼) and Energy (-3.04%▼) were the hardest hit sectors, followed by substantial losses in Consumer Discretionary (-2.37%▼), and  Financials (-2.22%▼). 

Sectors recording losses of more than 1% included Communication Services (-1.85%▼), Industrials (-1.01%▼), Technology (-1.86%▼), and  Consumer Staples (-1.05%▼). 

Healthcare (-0.98%▼), Utilities (-0.21%▼), and Real Estate (-0.63%▼) ended on the losing side as well.  

Futures!

The Futures seem to be taking a cue from the EU markets and were advancing well, early Monday morning with all major indices in green. 

As of 07:00 ET, Nasdaq Futures (0.75%▲) was up more than 100 points, Dow Futures (0.93%▲) was advancing with a 300 point gain, S&P 500 Futures (0.85%▲) had gained more than 36 points already, and Russel 2000 Futures (1.2%▲) was moving ahead with a gain of over 25 points. 

Key Movers in Small Cap:

Surface Oncology Inc (SURF, 3.24%▲) slipstreamed behind Astra Zeneca, as the latter shared positive news about its new Cancer Drug. The relative volume of the stock was 13.5.  

Protagonist Therapeutics Inc (PTGX, -26.13%▼) continued its downslide, a day after the FDA decided to shut all clinical trials of the company pertaining to Rusfertide. The relative volume of the stock was 8.5. 

The other movers in the small-cap segment included: 

Premier Financial Bancorp Inc (PFBI, -0.34%▼): Relative Volume 7.8.

Encore Wire Corporation (WIRE, -0.34%▼): Relative Volume 3.8.

BeyondSpring Inc (BYSI, -32.96%▼): Relative Volume 3.4.

Eagle Bulk Shipping Inc (EGLE, -13.58%▼):  Relative Volume 3.1.

Nature’s Sunshine Products Inc (NATR, -0.55%▼):  Relative Volume 3.0.

Key Movers in Large Cap:

Mirati Therapeutics (MRTX, 1.95%▲) Monday announced positive clinical data with investigation Adagrasib, as monotherapy in patients with mutated colorectal cancer. The relative volume of the stock was 5.3.

Brooks Automation Inc (BRKS, 8.83%▲) has announced plans to sell its chip-solutions unit for $3bn and said that it will no longer pursue splitting into two companies.  The relative volume of the stock was 5.1.

The other movers in the large-cap segment included: 

Tripadvisor Inc  (TRIP, -7.60%▼): Relative Volume 3.9.

Caterpillar Inc (CAT, -4.50%▼):  Relative Volume 2.5.

Acceleron Pharma Inc (XLRN, 1.42%▲): Relative Volume 2.5.

DoubleVerify Holdings Inc (DV, -7.11%▼): Relative Volume 2.5.

Cleveland-Cliffs Inc. (CLF, -9.65%▼): Relative Volume 2.4.

Report Card:

The title insurance company, Lennar Corporation (LEN, -2.94%▼), came out with net earnings of$1.4bn or,  $4.52 per diluted share up more than 100% y-o-y, compared to diluted EPS of $2.12 or net earnings of $666.4m. The revenue of $6.9bn was up 18% y-o-y. The stock fell by more than 3% after hours. 

On the Lookout:

The two-day FOMC meeting will begin today, and the statement by the Fed is due tomorrow. 

Building Permits (SAAR), for the month of August, are expected to drop a little from July’s 1.63m to 1.62m now. 

The Housing Starts (SAAR) on the other hand is expected to increase from July’s 1.53m to 1.55m in August. 

Software maker, Clearwater Analytics Holdings, is eyeing a $4bn valuation as it proceeds to offer 30m shares of its common stock, priced between $14 and $16.  

Covid test-maker, Cue Health, is looking to raise more than $100m by offering 12.5m shares of its common stock, priced between $15 and $17 per share. 

The payments solutions provider, EngageSmart, is looking to raise $349m by selling 14.5m shares of its common stock, priced between $23 and $25 per share. 

Unusually high shorter-term CALL options activity seen on Alphabet Inc (GOOGL, -1.48%▼), Editas Medicene Inc (EDIT, -7.91%▼), Bank of America (BAC, -3.29%▼), IVERIC Bio Inc (ISEE, -2.41%▼), and the Appharvest Inc (APPH, -4.61%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Tilary Inc Inc (TLRY, -7.72%▼), Starbucks Corporation (SBUX, -1.40%▼), Cinemark Holdings Inc (CNK, -2.39%▼), HSBC Holdings Plc (HSBC, -4.43%▼), and Tronox Holdings Plc (TROX, -4.61%▼) among others.

Other Asset Classes:

Crude Oil Prices - After falling more than 2% on Monday, the prices bounced back amid signals of theUS supply tightening. Brent crude gained more than 1% Tuesday morning and was trading well above the $74 per barrel mark, while WTI crude traded 1.20% higher. 

The US Dollar (93.15, -0.14%▼) shed some gains after reaching a three-week high Monday morning.The future course of the greenback will be decided by the tone of the Fed following the two-day FOMC meeting. 

The US Treasury Yields fell Monday along with the equities but made some marginal gains early Tuesday morning ahead of the Fed meeting. The 10 Year US Treasury Yield was trading at 1.328%, in the green zone, though considerably lower than Monday’s 1.341%.

Global Markets:

Asian Markets: The stocks in the Asia Pacific fought for footing on Tuesday as the Evergrande fiasco looms large on the minds of the investors. The results were mixed. Hang Seng, managed to hover right below the zero-mark,0.18% lower, even as Shanghai clawed 0.19% higher. Tokyo’s Nikkei shed some 660 points and was more than 2% into the negative territory. 

Despite the mounting concerns over the Evergrande crisis, the European markets Tuesday managed a turnaround, with all major indices making substantial gains, soon after the markets opened. FTSE gained 0.76%, CAC was up 0.94%, DAX climbed 0.64%, and the pan-EU index Stoxx-600 managed to claw up by 0.61%, early Tuesday morning.

Meanwhile on Researchfin.ai

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! Signup, we have a 30-day free trial.

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[The Contagion! ]]>https://openingbell.researchfin.ai/p/the-contagionhttps://openingbell.researchfin.ai/p/the-contagionMon, 20 Sep 2021 11:28:58 GMTHey! How was the weekend? 

The tip of the iceberg! Debt-ridden, Chinese Real Estate giant, Evergrande slumped to 11-year lows by about 15% today, as bond-payment deadlines arrive. And as was anticipated, it has spread the rout beyond the real estate industry and well beyond the mainland borders. Asian, European stocks fell Monday as Evergrande’s “moment of truth” arrives. Property developer Sinic halted trading after skidding87%. 

Buying competition! US tech giants - including Apple, Facebook, Microsoft, and Amazon - have spent a record $264bn to buy potential rivals under $1bn in 2021, twice the previous record of the dot com boom of 2000. US politicians and regulators prepare to crack down on transactions “under the radar”. 

Where are the Energy suppliers of the UK vanishing? At the beginning of 2021, there were 70 Energy suppliers in the country and by the end of the year, only 10 might be left, as wholesale gas prices have soared by 250% since January. The UK government is contemplating offering state-backed rescue loans to these companies, as they acknowledge many suppliers could go bust in the coming days.  

With an aim to expand into UAE and Australian markets, the Indian used car platform, Cars24, has raised $450m from Chinese tech giant Tencent, Japanese Soft Bank, and some other investors.  

Good, but not enough! From a decade low reading of 70.3 in August, the UMich Consumer Sentiment Index (preliminary) has risen to 71 for the month of September, falling short of the expected 72. 

US Markets:

Stocks slumped to record the second week of losses in a row, with a rise in delta variant cases and ahead of the Fed meeting scheduled this week. September has historically been a turbulent month for the stocks. 

S&P 500 (-0.91%▼) slid more than 40 points Friday, to drop below its 50-day moving average. Dow Jones (-0.48%▼) tumbled by a substantial 166 points, while the tech-heavy Nasdaq (-1.18%▼) shed more than 182 points for the day. 

Nasdaq was pulled down by tech giants including Facebook (FB, -2.24%▼), Apple (AAPL, -1.83%▼), and Microsoft  (MSFT, -1.75%▼).  

Russel 2000 (0.18%▲) was the only gaining index on Friday. 

Sectors at the S&P 500 were all red, barring Healthcare (0.07%▲), which managed to notch thin gains. 

Utilities (-1.59%▼) was the worst-hit sector, followed by almost identical losses in Communication Services (-1.26%▼), Industrials (-1.05%▼), Materials (-1.09%▼), and Technology (-1.52%▼).

Other losing sectors included Real Estate (-0.95%▼), Consumer Discretionary (-0.38%▼), Energy (-0.76%▼), Financials (-0.49%▼), and Consumer Staples (-0.53%▼). 

Futures!

The Evergrande contagion spread across the Asian and EU markets and was threatening to impact the US stocks as well, with Dow sliding more than 515 points, early Monday morning. 

As of 06:00 ET, none of the indices was in green. Nasdaq Futures (-1.05%▼) was down 161 points, Dow Futures (-1.50%▼), S&P 500 Futures (-1.27%▼) down more than 50 points, and Russel 2000 Futures (-1.64%▼) skid more than 35 points. 

Key Movers in Small Cap:

Priority Technology Holdings (PRTH, 47.23%▲) has completed the purchase of banking-as-a-service company Finxera Holdings Inc. The relative volume of the stock was 237.0.  

The FDA, in response to Tumorigenicity in mice, is shutting down all clinical trials with Rusfertide, the lead candidate of Protagonist Therapeutics Inc (PTGX, -62.00%▼). The relative volume of the stock was 39.0. 

Tcr2 Therapeutics Inc (TCRR, -36.45%▼) Friday reported interim results from the ongoing phase-1 portion of its Gavo-Cell phase 1/2 clinical trial for Mesothelin. The relative volume of the stock was 12.3.

The other movers in the small-cap segment included: 

Surface Oncology Inc (SURF, 18.14%▲): Relative Volume 14.4.

Primis Financial Corporation (FRST, -6.74%▼): Relative Volume 8.6.

Altair Engineering Inc (ALTR, -0.83%▼): Relative Volume 8.2.

Orasure Technologies Inc (OSUR, 16.65%▲):  Relative Volume 7.3.

Key Movers in Large Cap:

United States Steel Corporation (X, -7.98%▼) forecast record third-quarter profits and unveiled plans for a new mill that will start producing in 2024. The relative volume of the stock was 3.2.

The other movers in the large-cap segment included: 

Unum Group (UNM, -6.04%▼): Relative Volume 4.7.

Carlisle Companies (CSL, 0.93%▲):  Relative Volume 4.4.

Thermo Fisher Scientific Inc (TMO, 6.49%▲): Relative Volume 4.0.

Centene Corporation (CNC, 4.95%▲): Relative Volume 3.6.

DT Midstream Inc. (DTM, -4.80%▼): Relative Volume 3.1.

Curtiss-Wright Corporation (CW, 3.12%▲): Relative Volume 3.1.

Report Card:

Manchester United PLC (MANU, 2.16%▲) Friday reported a loss of $150.5m for the fiscal fourth quarter, while the revenue of the UK-based company came out to be $131.4m. The stock climbed a little less than 2% after hours. 

On the Lookout:

Direct to consumer fashion platform, a.k.a Brands Holdings, is looking to raise $263.9m by offering 13.8m shares of its common stock, priced between $17 and $19. 

Argo Blockchain is aiming at a valuation of $844m, as the company offers 7.5m shares of its common stock, priced at $18.40 per share. 

Brilliant Earth Group, a supplier of jewelry and diamonds, is planning to raise $267m by offering 16.6m shares of its common stock, priced between $14 and $16 per share. 

Unusually high shorter-term CALL options activity seen on AES Corp (AES, 1.32%▲), Baidu Inc (BIDU, 1.66%▲), CSX Corporation (CSX, -1.94%▼), United States Steel Corporation (X, -7.98%▼), and the Peabody Energy Corporation (BTU, -5.34%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Uber Technologies Inc (UBER, 0.58%▲), American Airlines Group (AAL, -0.80%▼), Pag Seguro Digital Ltd (PAGS, 1.38%▲), Cameco Corp (CCJ, -6.53%▼), and Palantir Technologies Inc (PLTR, 0.28%▲) among others.

Other Asset Classes:

Crude Oil Prices - Friday’s losses were extended early Monday morning in wake of a stronger US dollar and increasing US Rig Count, following the havoc wreaked by two back-to-back hurricanes. Brent was down by 1.01% while WTI crude traded 1.24% lower. 

The US Dollar (93.38, 0.19%▲) reached a three-week high Monday morning as the Fed is expected to exhibit a hawkish stance in FOMC meet, scheduled this week. 

The US Treasury Yields trod a little lower for the same reason that propelled the US dollar higher, Monday morning. The 10 Year US Treasury Yield was trading at 1.341%, in the negative territory, but considerably ahead of the 1.28% level last week.

Global Markets:

Asian Markets: A rout in the property stocks, as Evergrande slid, and ahead of the policy meetings of central banks in China, Japan, Taiwan, Indonesia, and the Philippines, scheduled this week, most of the markets in the Asia Pacific tumbled on Monday. Hang Seng, dropped more than 4% intraday, trimming losses to 3.3% by the close. Shanghai and Tokyo's Nikkei were up 0.19% and 0.58%, after a choppy day. 

The European markets followed the overall negative outlook in Asia dropped the most in a month. Investors in the UK were watching Energy stocks as the government considers offering emergency state-backed loans to companies as wholesale gas prices soar. The FOMC meeting in the US played heavily on investors’ minds. FTSE was down 1.30%, CAC slumped 2.18%, DAX shed 1.96%, and the pan-EU index Stoxx-600 plunged 1.77% early Monday morning.

Meanwhile on Researchfin.ai

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Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Grande, No Longer! ]]>https://openingbell.researchfin.ai/p/grande-no-longerhttps://openingbell.researchfin.ai/p/grande-no-longerFri, 17 Sep 2021 11:30:18 GMTGood Morning! 

The Evergrande catastrophe! Under a crushing debt of $300bn, China’s property giant is on the verge of a collapse. The potential fallout of the Evergrande collapse will not only be the biggest test of China’s financial system, but it will also spell doom beyond the mainland borders, to banks, suppliers, home-buyers, and investors. The PBOC has injected $14bn into the financial system to soothe nerves!  

And the crackdown continues! Goldman Sachs has assessed that Chinese companies, worth a market capitalization of $3.2tr, might be at risk of further regulations by the mainland regulators. The crackdown has so far affected giants including Alibaba, DiDi Global, Baidu, and Meituan. Tencent’s Thursday slide means Global top-10, in market capitalization, has no Chinese stocks!  

The $24bn Indian farm treasure! US tech giants, including Amazon, Microsoft, and Cisco, are emerging as contenders to harness data from the country’s farmers, in an ambitious government-led initiative aimed at transforming an outmoded agricultural industry, worth $488bn, that employs almost half of India’s 1.3bn people. 

Led by Lousiana’s increase of 4000, following Hurricane Ida, the Initial Jobless Claims (regular state program), for the week ended September 11, came out to be 332,000 slightly worse than the expected 328,000 and the previous week’s revised 310,000. The numbers are still at a pre-pandemic low! 

Continuing Jobless Claims (regular state program) for the week ended September 4, however, dropped to 2.665m lower than the expected 2.740m, and the prior week’s 2.783m.  

Beating the delta! Despite a rise in delta variant cases and the analysts fearing a 0.8% decline in the US  Retail Sales, the print has been propelled to a gain of 0.7% for the month of August. 

In the UK, however, Retail Sales have plunged unexpectedly, for August, falling 0.9% m-o-m against an expected increase of 0.5%, the fourth consecutive drop and the longest losing streak since the records began. The FTSE soared regardless! 

Coming out in the open! After years of secrecy shrouding their foray into digital assets, several of Wallstreet’s largest trading companies have unveiled plans to stake out territory in CryptoCurrency markets, in a bid to win lucrative business from institutional investors. 

On the other hand, more than 60 Crypto exchanges will shut shop in South Korea next week as new regulations, for the largely unregulated digital currency trading, will be imposed formally.   

US Markets:

An unexpected surge in Retail Sales, last month, renewing expectations of Fed tapering economic stimulus sooner, pulled most of the stocks down Thursday. 

S&P 500 (-0.16%▼) did trim some losses but ended in the negative territory at close. Dow Jones (-0.18%▼) slid more than 63 points, while Russel 2000 (-0.06%▼) closed flat, and in the negative territory. 

Tech-heavy Nasdaq (0.08%▲) was the only major index to register some gains, amid the turmoil. 

Expectedly,  Technology (0.06%▲) was a gaining sector at the S&P 500. The two other sectors making some gains Thursday were Real Estate (0.16%▲), and Consumer Discretionary (0.44%▲). 

The rest of the sectors, eight of them, ended in the red zone. 

Energy (-1.06%▼) and Materials (-1.09%▼) were the worst hit, followed by Utilities (-0.81%▼), Industrials (-0.66%▼), Financials (-0.24%▼), Communication Services (-0.21%▼), Consumer Staples (-0.34%▼), and Healthcare (-0.25%▼).

Futures!

After some initial gains, the US stock futures, slid back into the negative territory Friday morning. 

As of 07:00 ET, none of the indices was in green. Nasdaq Futures (-0.20%▼), Dow Futures (-0.18%▼), S&P 500 Futures (-0.23%▼), and Russel 2000 Futures (-0.27%▼). 

Key Movers in Small Cap:

Metropolitan Bank Holding Corp(MCB, 5.85%▲) had on Wednesday announced the pricing of its underwritten public offering of 2m shares, at $75 per share. The relative volume of the stock was 19.0. 

Great Western Bancorp Inc(GWB, 11.89%▲) is in the process of being acquired by First Interstate Bancsystem, in an all-stock deal worth roughly $2bn. The relative volume of the stock was 17.3. 

Investors of the First Interstate Bancsystem (FIBK, -7.44%▼), however, did not seem to be very pleased with the news of the acquisition. The relative volume of the stock was 17.0. 

Aerie Pharmaceuticals (AERI, -21.40%▼) Thursday announced mixed results from a phase-2b study that evaluated its investigational therapy, AR15512, in patients with dry eye disease. The relative volume of the stock was 12.7. 

Berkeley Lights (BLI, -11.61%▼) continued to tumble, following accusations of fleecing its customers, leveled by an institutional short-seller. The relative volume of the stock was 11.7. 

The FDA has given a nod to Biomea Fusion(BMEA, 17.31%▲), to start an early-stage Leukemia setting trial with BMF-219. The relative volume of the stock was 11.5.    

The other movers in the small-cap segment included: 

MedAvail Holdings Inc (MDVL, 13.15%▲): Relative Volume 5.8.

Rush Street Interactive Inc (RSI, 12.57%▲): Relative Volume 5.2.

Heritage Insurance Holdings Inc (HRTG, -8.58%▼): Relative Volume 4.5.

MacroGenics Inc (MGNX, -23.76%▼):  Relative Volume 4.1.

Key Movers in Large Cap:

Analysts assigned Hayward Holdings (HAYW, 7.80%▲) a target price of $30, over 40% from its current price. The relative volume of the stock was 2.8. 

It was the opposite for Beyond Meat Inc (BYND, -2.31%▼) as analysts turned bearish on the stock. The relative volume of the stock was 2.7. 

Curtiss-Wright Corp (CW, 4.08%▲) Thursday announced a $400m increase in share repurchase authorization to $550m and an expansion in the 2021 share repurchase program. The relative volume of the stock was 2.4. 

The other movers in the large-cap segment included: 

Aspen Technology Inc (AZPN, -0.70%▼): Relative Volume 3.5.

Palantir Technologies Inc (PLTR, 5.72%▲):  Relative Volume 2.7.

Pinnacle Financial Partners (PNFP, -1.94%▼): Relative Volume 2.3.

CF Holdings Industries (CF, 1.20%▲): Relative Volume 2.3.

Freshpet Inc. (FRPT, 6.11%▲): Relative Volume 2.3.

Freeport-McMoran Inc (FCX, -6.64%▼): Relative Volume 2.2.

On the Lookout:

The UMich Consumer Sentiment Index (preliminary) is expected to go up from August’s 70.3 to 72.0 in September. 

Unusually high shorter-term CALL options activity seen on Vale SA (VALE, -5.11%▼), Kinder Morgan Inc (KMI, -1.34%▼), Callaway Golf Co (ELY, 3.06%▲), Ford Motor Company (F, 1.36%▲), and the Offerpad Solutions Inc (OPAD, 58.74%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Levi Strauss & Co (LEVI, -2.99%▼), Palantir Technologies Inc (PLTR, 5.72%▲), Alibaba Group Holdings (BABA, -1.01%▼), Dell Technologies Inc (DELL, 0.96%▲), and Walmart Inc (WMT, 0.33%▲) among others.

Other Asset Classes:

Crude Oil Prices - The production in the US Gulf Coast coming slowly back to life, following two back-to-back hurricanes, has slightly improved the supply outlook and pulled the Crude prices back a little. The prices however are still up around 3% for the week. Early Friday morning Brent held the $75 per barrel mark, despite a 0.40% drop. 

The US Dollar (92.80, -0.14%▼) jumped, following a steep improvement in Retail Sales, on Thursday but struggled to find direction early Friday morning, and slumping a little as a result.  

The US Treasury Yields climbed higher Thursday following the weekly Jobs report and the surge in Retail Sales. Early Friday morning the 10 Year US Treasury Yield was trading at 1.331%, considerably ahead of Wednesday’s 1.28%.

Global Markets:

Asian Markets: After facing some rough weather for the past few days - owing to a regulatory crackdown in China, rising cases of delta variant, and some disappointing economic data - the markets in the Asia Pacific region bounced back Friday to register some gains and end the week on a positive note. Hang Seng, climbed more than 113 points to close 0.46% higher. Shanghai andTokyo’s Nikkei were up 0.19% and 0.58% respectively. 

The European markets, looked set for weekly gains as airlines and hotel stocks were boosted by the news that the UK might be mulling to ease travel restrictions. A rebound in luxury stocks further propelled the major indices in the EU. Major indices including FTSE (0.31%), CAC (0.91%), DAX (0.61%) and the pan-EU index Stoxx-600 (0.59%) looked set for a fruitful day, early Friday morning.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Dynatrace Inc (DT), Ncino Inc (NCNO), DoorDash Inc (DASH), Cloudfare Inc (NET), and Atlas Corp. (ATCO), Rush Street Interactive Inc (RSI) and Magnolia Oil & Gas Corp. (MGY). Signup, we have a 30-day free trial.

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Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Vanishing Passengers! ]]>https://openingbell.researchfin.ai/p/vanishing-passengershttps://openingbell.researchfin.ai/p/vanishing-passengersThu, 16 Sep 2021 11:39:47 GMTGood Morning! 

Fewer rides! China’s ride-hailing giant DiDi Global has lost 30% of its daily users, since its New York IPO in June this year, as mainland regulators banned the company from registering new users in wake of an ongoing data security investigation. After the initial flight, the DiDi stock is down 41% since its debut in the US. 

Shopping spree amid Covid! In Southeast Asia, the number of online shoppers has increased by 70m, since the beginning of the pandemic. The total number is expected to reach 380m by 2026. 

Not buying dips anymore! Retail investors bought between 35% to 100% more in July and August than they did in similar-sized dips between September 10 and 14. Why are investors abandoning a tried and tested buy-the-dip strategy?   

With the easing of inflationary pressure, the US Import Price Index has fallen for the first time in 10 months, to -0.3 for August, while it was expected to remain unchanged at July’s 0.3%.  

Back to basics! The US Industrial Production, for the month of August, has returned to the pre-pandemic levels at 0.4%, lower than the expected 0.5%. The print could have been 0.3% higher, had the hurricane, Ida, not struck and caused floods in parts of the country.  

The Empire State Index, a summary of general business conditions in New York state, for the month of September was expected to slide from 18.3 to 17.2 but soared to a mammoth 34.3 instead. 

Woman power! Australian graphic design business Canva has become the world’s most valuable women-founded and women-led startup - valued at $40bn after a fresh $200 round of private equity investment. Canva is now the fifth-most valuable privately owned startup in the world.  

Tennis star, Roger Federer-backed Swiss running shoemaker On Holding AG has soared 46% on its first day of trading in New York. The stock closed at $35, Wednesday, after being sold at $24 per share.   

Crypto’s Laos haven! The Southeast Asian country has approved Crypto mining and trading, amid concerns that the move might benefit criminal organizations. 

US Markets:

After an initial wobble, pertaining to weak economic data from China, the stocks pushed higher by the close shrugging off Tuesday’s losses, with major indices closing in the green zone. 

S&P 500 (0.85%▲) snapped the six-day streak of closing below its opening level with a gain of more than 37 points and recorded its best day in more than two weeks. Dow Jones (0.68%▲) gained 282 points, following a 300 point slide on Tuesday, while Russel 2000 (1.11%▲) advanced by around 25 points.  

Tech-heavy Nasdaq (0.78%▲) was buoyed as well and managed to gain over 120 points by the close Wednesday.  

Utilities (-0.56%▼) was the only red sector at the S&P 500, while the other ten sectors secured decent gains.

Energy (3.82%▲) cashed in on a rally in oil prices and was the major factor leading S&P 500 higher for the day. Industrials (1.12%▲), Materials (1.10%▲) were up with some substantial gains as well. 

Financials (0.93%▲), Communication Services (0.72%▲), Consumer Discretionary (0.66%▲), Consumer Staples (0.40%▲), Technology (0.89%▲), Real Estate (0.41%▲), and Healthcare (0.68%▲) managed to secure some gains by the close.

Futures!

The US stock futures, after Wednesday’s rally, were in red this morning.  

As of 07:00 ET, none of the indices was in green. Nasdaq Futures (-0.23%▼), Dow Futures (-0.10%▼), S&P 500 Futures (-0.16%▼), and Russel 2000 Futures (-0.%▼). 

Key Movers in Small Cap:

The Goldman Sachs Group is buying specialty lender GreenSky LLC (GSKY, 53.64%▲) for $2.2bn, in a bid to expand into main street banking. The relative volume of the stock was 15.8.

Theravance Biopharma Inc (TBPH, -15.80%▼) Wednesday announced disappointing results from its phase-3 study of Ampreloxetine, a drug aimed at treating symptomatic neurogenic orthostatic hypotension. The relative volume of the stock was 11.8.

An institutional short-seller Wednesday accused Berkeley Lights (BLI, -18.74%▼) of “fleecing customers and IPO bagholders with a $2m Black Box, that’s a clunker,”. The relative volume of the stock was 11.0.

PAR Technology Corporation (PAR, 10.16%▲) Wednesday announced the pricing of its offering of stocks and convertible notes. The relative volume of the stock was 8.6.

The other movers in the small-cap segment included: 

ChromaDax Corporation (CDXC, -4.17%▼): Relative Volume 18.7.

CrossFirst Bancshares Inc (CFB, 2.10%▲): Relative Volume 12.4.

Reliant Bancorp Inc (RBNC, 2.50%▲): Relative Volume 12.1.

Ibex Limited (IBEX, -0.53%▼):  Relative Volume 10.1.

APi Group Corporation (APG, 0.19%▲): Relative Volume 8.8.

Key Movers in Large Cap:

The regulatory headwinds casino operators in Macau will be facing made Wynn Resorts (WYNN, -6.30%▼)tumble again for half of the company’s operating revenue come from 2 casinos it operates out there. The relative volume of the stock was 4.6. 

The other movers in the large-cap segment included: 

Leslie’s Inc (LESL, 1.03%▲): Relative Volume 6.8.

Jamf Corporation (JAMF, 6.13%▲):  Relative Volume 4.7.

Advanced Drainage Systems (WMS, -6.23%▼): Relative Volume 4.1.

Royalty Pharma Plc (RPRX, -4.29%▼): Relative Volume 3.6.

Paylocity Holding Corp (PCTY, 2.32%▲): Relative Volume 2.7.

Live Nation Entertainment (LYV, -2.40%▼): Relative Volume 2.6.

Report Card:

JinkoSolar Holding  (JKS, 4.13%▲) reported a 6.2% y-o-y drop in revenue to $1.23bn, while the gross profit decreased 10.2% y-o-y to $210.5m. The stock continued to be in the green zone after hours. 

The Bitcoin mining supplier Canaan Inc (CAN, -10.57%▼) reported a 507.3% y-o-y increase in revenue to $167.5m, while the net come came out at $37.9m or $1.45 per share. The stock climbed by half a percent after hours.  

On the Lookout:

Initial Jobless Claims (regular state program), for the week ended September 11, is expected to come in at 381,000 considerably higher than the last week’s 310,000. 

Continuing Jobless Claims (regular state program) is due today as well, with a previous print of 2.78m. 

Retail Sales for the month of August are expected to increase, from July’s -1.1% to -0.7%, and so are the Retail Sales ex-autos, which are expected to climb from July’s -0.4% to 0.2%.  

Philadelphia Fed Manufacturing Survey, for the month of September, is expected to go down from the previous print of 19.4 to 18.9. And the Business Inventories for the month of August are expected to decrease from 0.8% to 0.5%.   

Unusually high shorter-term CALL options activity seen on Zynga Inc (ZNGA, -1.71%▼), Affirm Holdings Inc (AFRM, 1.56%▲), International Game Technology (IGT, 3.26%▲), Uber Technologies (UBER, -1.36%▼), and the United States Steel Co (X, 4.99%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Wynn Resorts (WYNN, -6.30%▼), Walmart Inc (WMT, 0.17%▲), Altimmune Inc (ALT, -0.48%▼), Las Vegas Sands (LVS, -1.70%▼), and Yeti Holdings Inc (YETI, 1.77%▲) among others.

Other Asset Classes:

Crude Oil Prices - An unexpected 6.4m barrel drawdown in US Crude inventories and China’s daily oil refinery output hitting a 15-month low sent Crude Oil prices soaring higher with Brent Crude breaching the $75 per barrel mark. Early Thursday morning Brent held the position even as WTI Crude traded well ahead of the $72 per barrel mark. 

The US Dollar Index (92.7, 0.17%▲) hovered near the middle of its range in the past month as focus shifts on potential clues from the Fed on stimulus tapering, as well as the soaring crude oil prices. 

The US Treasury Yields climbed slightly higher, ahead of the weekly Jobless data, early Thursday morning. The 10 Year US Treasury Yield was trading, slightly into the green zone, at 1.307%, considerably ahead of Wednesday’s 1.28%.

Global Markets:

The Asian Markets, despite a bounceback in the US on Wednesday, traded mostly lower Thursday as weak economic data from China, the government’s tightening grip on businesses in the mainland, and the rising cost of fuel weighed down the investor sentiment. Hang Seng, fell by about a little less than 400 points or 1.59%. Shanghai and Tokyo's Nikkei were down 1.34% and 0.62% respectively. 

The overnight strength in the Wallstreet, however, buoyed the European markets, which were further boosted by a rebound in travel stocks at the opening on Thursday. Soon after the opening all major indices, including FTSE (0.48%), CAC (0.66%), DAX (0.64%) and the pan-EU index Stoxx-600 (0.64%) were trading higher.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Workiva Inc (WK), Alcon AG (ALC), Allegro MicroSystems Inc (ALGM), Cabot Oil & Gas Corporation (COG) and DigitalOcean Holdings Inc. (DOCN). Signup, we have a 30-day free trial.

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

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See you Friday! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[The Slowing Giant! ]]>https://openingbell.researchfin.ai/p/the-slowing-gianthttps://openingbell.researchfin.ai/p/the-slowing-giantWed, 15 Sep 2021 11:30:01 GMTGood Morning! 

The slowdown! China’s Retail Sales have grown by a disappointing 2.5% in August, from a year ago, far slower than the expected 7%, as the country recently battled with worst outbreak of Covid-19, since the beginning of the pandemic. Industrial Production was up 5.3%, a little slower than the expected 5.8%. Asian markets pulled back.  

The Casino wipeout! $18.4bn were wiped out off the market-worth of listed playing operators, following Macau government’s drive to extend oversight of casinos. Sands China tumbled 32.5%, Wynn Macau fell 29%, and MGM China shed around 27%. 

Hey! Do you own Microsoft shares? The company has increased its yearly dividend by11%, from 56 cents to 62 cents - the 12th straight yearly increase in dividends by the tech giant. They have also unveiled a $60bn stock buyback program. 

And what a time for the dividends! Apple has just launched a range of new products, including the iPhone 13. Just saying, in case you are a “club Apple” member. 

The inflation might be cooling off, finally! The US Consumer Price Index for August increased by 5.3%from a year earlier, and 0.3% from July, both figures lower than the expected 5.4% and 0.4%. The Core CPI gained 0.1%, up 4% y-o-y. 

Not in the UK, though, where the inflation rate today posted biggest increase since records began in 1997! The CPI came out at 3.2%, for August, way ahead of a predicted reading of 2.9%. FTSE climbed, regardless, as other major indices in EU slid. 

NFIB Small Business Optimism Index has breached the 100 level, with a print of 100.1, up 0.4 points from July’s reading. 50% of businesses, however, still have vacancies they cannot fill. The NFIB Uncertainty Index has decreased 7 points to 69, the lowest since January 2016. 

US Markets:

The initial buoyancy in the stocks quickly faded following Fed’s Inflation report, increasing the likelihood of a corporate tax rate hike, and dampening the investor sentiment.  

S&P 500 (-0.57%▼) finished below its closing level for the sixth day in a row, something that last happened in February 2020. Dow Jones (-0.84%▼) slid close to 300 points, while Russel 2000 (-1.37%▼) shed over 30 points. 

Tech-heavy Nasdaq (-0.33%▼) continued the losing streak, sliding down more than 50 points by the end of the trading day Tuesday.  

None of the sectors at the S&P 500 could register any gains, despite the initial positivity in the stocks. 

Energy (-1.55%▼), after being the highest gainer Monday, was the worst-hit sector on Tuesday, followed by substantial losses in Financials (-1.41%▼), Industrials (-1.23%▼), Materials (-1.17%▼), and Communication Services (-0.88%▼).

Consumer Discretionary (-0.33%▼), Consumer Staples (-0.60%▼), Technology (-0.14%▼), Real Estate (-0.34%▼), Healthcare (-0.12%▼), and Utilities (-0.18%▼) also fell below the zero levels. 

Futures!

The US stock futures looked upbeat, early Wednesday morning. 

As of 07:00 ET, all the major indices were in the green zone. Nasdaq Futures (0.19%▲), Dow Futures (0.02%▲), S&P 500 Futures (0.11%▲), and Russel 2000 Futures (0.09%▲). 

Key Movers in Small Cap:

PAR Technology Corporation (PAR, -18.07%▼) intends to sell 1.5m shares of its common stock, and issue debt to finance further growth initiatives. The Relative Volume of the stock was 21.1. 

FuelCell Energy Inc (FCEL, 14.59%▲) announced its Q3 financial results, beating the estimates quite comprehensively. The Relative Volume of the stock was 13.6. 

BRP Group Inc (BRP, -16.92%▼) is offering 8m shares of its common stock, priced at $30.5 per share. After Tuesday’s loss, the BRP stock is worth $31.27. The Relative Volume of the stock was 6.9. 

Crocs Inc (CROX, 8.47%▲) touched an all-time high Tuesday after the shoe-maker introduced a new shoe made of bio-based material, another step towards delivering on its pledge of net zero emissions by 2030.  The Relative Volume of the stock was 5.9.

The other movers in the small-cap segment included: 

Marlin Business Services (MRLN, -0.22%▼): Relative Volume 10.2.

Mid Penn Bancorp Inc (MPB, 0.08%▲): Relative Volume 5.8.

Akoya Biosciences Inc (AKYA, -1.57%▼): Relative Volume 5.6.

NeuroPace Inc (NPCE, -5.48%▼):  Relative Volume 5.5.

NeoGames S.A. (NGMS, 2.77%▲): Relative Volume 5.4.

Key Movers in Large Cap:

Herbalife Nutrition Ltd (HLF, -21.13%▼) Monday announced that lower than expected levels of activity among its distributors, has led to a decrease in expected Q3 and full-year net sales. The relative volume of the stock was 11.8.

Casino operator stocks, including Wynn Resorts Limited (WYNN, -10.85%▼), with major exposure to Macau, as China eyes tougher regulations. The relative volume of the stock was 8.8. 

Las Vegas Sands (LVS, -9.75%▼), with a relative volume of 7.6, was another casino operator stock to fall Tuesday. 

Jamf Holding Corporation (JAMF, -6.71%▼) has announced plans to raise capital by selling convertible notes, spooking the investors. The relative volume of the stock was 5.3. 

The other movers in the large-cap segment included: 

Comcast Corporation (CMCSA, -7.30%▼): Relative Volume 3.8.

Acadia Healthcare Company (ACHC, -6.98%▼):  Relative Volume 3.5.

Life Storage Inc (LSI, -2.87%▼): Relative Volume 3.2.

Pinnacle West Capital (PNW, -1.46%▼): Relative Volume 2.9.

OPendoor Technologies Inc (OPEN, -4.84%▼): Relative Volume 2.8.

Report Card:

FuelCell Energy Inc (FCEL, 14.59%▲) reported a 43% increase in revenue y-o-y to $26.8m, even as the gross profit jumped 135% y-o-y to $1.1m. The company’s backlog is down 2% to $1.3bn. The stock remained in green zone after hours. 

A specialized distributor of water, wastewater, storm drainage, and fire protection products, Core & Main Inc (CNM, 0.93%▲) reported a 36% y-o-y increase in sales to $1.3bn. The net income of $9.5m was way lower than the $18.1m, a year earlier. The stock remained flat after hours. 

On the Lookout:

The Import Price Index is expected to remain unchanged at 0.3%, when the data is released later in the day. 

The Empire State Index, for the month of September, is expected to slide from 18.3 to 17.2. 

Industrial Production, for the month of August, is expected to slump from July’s 0.9% to 0.5%. 

Some IPOs to look out for:

EzFill Holdings is offering 6.2m shares of its common stock, priced at $4 per share. The stock is expected to start trading on September 16. 

Another company to have debuted in the stock market tomorrow is ForgeRock Inc, with an offering of 11m shares of its common stock, priced between $21 and $24 per share. 

Unusually high shorter-term CALL options activity seen on Royal Carribean Cruises (RCL, -1.69%▼), Snap Inc (SNAP, 0.07%▲), Roblox Corp (RBLX, -2.74%▼), Las Vegas Sands (LVS, -9.75%▼), and Wells Fargo & Co (WFC, 0.63%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Comcast Corporation (CMCSA, -7.30%▼), Luminar Technologies Inc (LAZR, 1.58%▲), Walmart Inc (WMT, -0.52%▼), WELL Health Technologies (WELL, -1.05%▼), and Silicon Motion Technology Corp (SIMO,-0.38%▼) among others.

Other Asset Classes:

Crude Oil Prices - The prices climbed again, Wednesday morning, a day after a larger than expected drawdown in Crude Oil stocks in the US, world’s largest oil consumer. Brent was up 0.80% Wednesday morning, while WTI Crude was into the green zone by 0.91%. 

The US Dollar (92.47,  -0.16%▼) continued to tumble after better than expected inflation data was released by the Fed Tuesday, indicating that the inflation might be temporary after all. 

The US Treasury Yields after falling on Tuesday were mixed Wednesday morning - following the better than expected inflation data - with the 10 Year US Treasury Yield trading into the green zone at 1.28%, and the 30 Year Yield trading at 1.84%, down one basis point.

Global Markets:

The Asian Markets were mostly in the negative zone, following weak economic data from China fanning worries over global economic recovery. The rout in US markets on Tuesday added to the subdued investor sentiment. Hang Seng, fell by about 470 points or 1.84% along with Shanghai, losing 0.17%. Tokyo’s Nikkei rfell by about 160 points or 0.52%. 

The negativity was rubbed on to the European markets, as most of the major indices opened in the negative territory. Wednesday morning, CAC had slid by 0.20%, while DAX was flat in the negative zone. Pan-EU index Stoxx-600 was also trading lower by 0.12%. FTSE, was the only green index, trading up by 0.04%.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Lattice Semiconductor Corp (LSCC), California Resources Corp (CRC), Regenxbio Inc (RGNX), Comstock Resources Inc (CRK) and Allakos Inc. (ALLK). Signup, we have a 30-day free trial.

Find new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

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Same time, tomorrow! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[More Than Just Sunshine!]]>https://openingbell.researchfin.ai/p/more-than-just-sunshinehttps://openingbell.researchfin.ai/p/more-than-just-sunshineTue, 14 Sep 2021 11:36:41 GMTGood Morning!  

For the first time since 2014, when the sector was first tracked, prices across residential, commercial, and utility scale Solar have increases y-o-y as well as q-o-q. The supply bottlenecks and rising raw material costs are overshadowing a blueprint of increasing Solar electricity from 3% now to 45% in 2050. Also, global solar panel prices have jumped 16% this year compared to the 2020 levels.

UK’s hiring crisis! For the first time vacancies in Britain have breached the 1m mark, and rocketed 35% to 1.03m in August - despite the fact that the number of employees on company payrolls also rose by a record 241,000. Worries that this will dampen economic recovery pulled FTSE down. 

Google’s South Korea glitch! The South Korean regulatory authority has fined Alphabet Inc$176.6mfor blocking customized versions of its Android operating system. This is the US tech giants second setback in the country in less than a month. 

A bigger fine! Three companies linked to Guo Wengui, a US-based Chinese businessman and a known critic of the Communist government back home, will pay a $539m fine in a US securities fraud.  

The vanishing cars! Chip shortage still persists worldover and is expected to prolong, even as carmakers look all set to shed 9.5m cars, by the beginning of 2022, due to the chip crisis and the subsequent plant closures. 

The US Federal Budget deficit has risen to $2.7trthrough August - on track to be the second-largest shortfall in history - owing to trillions of dollars being spent in Covid relief.

US Markets:

Stocks managed to snap a 5-day losing streak Monday, led by some major gains in energy companies. 

S&P 500 (0.23%▲) added a little more than 10 points, by the close, after fluctuating between red and green through the day. Dow Jones (0.76%▲) gained 261 points and closed at 34869.63, while Russel 2000 (0.59%▲) gained over 13 points. 

Tech heavy Nasdaq (-0.04%▼) ended on the losing side, with Moderna Inc (MRNA, -6.60%▼) pulling the index downwards. 

Sectors at the S&P 500 were mixed, with three into the red zone and the other eight of them gaining some momentum. 

Energy (2.94%▲) was the highest gainer, followed by some substantial gains in Financials (1.14%▲), Real Estate (0.48%▲), and Communication Services (0.41%▲).

The other gaining sectors included Consumer Discretionary (0.14%▲), Consumer Staples (0.17%▲), Industrials (0.27%▲), and Technology (0.03%▲). 

Healthcare (-0.61%▼), Materials (-0.02%▼), and Utilities (-0.18%▼) closed into the red zone. 

Futures!

The US stock futures mirrored Tuesday’s market performance.  

As of 07:00 ET, only Nasdaq Futures (-0.02%▼) were in the negative territory. Dow Futures (0.02%▲), S&P 500 Futures (0.06%▲), and Russell 2000 Futures (0.09%▲) looked poised for a decent opening. 

Key Movers in Small Cap:

MiMedx Group Inc (MDXG, -59.56%▼) Monday reported results from two clinical trials that did not meet the expected results. The Relative Volume of the stock was 26.3. 

There were reports that Tronox Holdings PLC (TROX, 11.05%▲) has got a $4.3bn all-cash buyout offer from Apollo Global Management Inc. The Relative Volume of the stock was 19.8.

The investors seemed to be fired up about the appointment of Quentin Blackford as CEO of the wearable heart monitor maker iRhythm Technologies (IRTC, 35.00%▲). The Relative Volume of the stock was 19.2.

Bharat Biotech, a partner of Ocugen Inc (OCGN, 15.80%▲), has got a nod for its Covid-19 vaccine by the World Health Organisation. The Relative Volume of the stock was 12.8.

Mayville Engineering Company (MEC, 24.28%▲) is expected to benefit as manufacturers look to move supply chains closer to home. The Relative Volume of the stock was 10.0.

Regenxbio Inc (RGNX, 31.20%▲) has announced an eye-care collaboration with AbbVie Inc. The Relative Volume of the stock was 7.7.

The other movers in the small-cap segment included: 

AXT Inc (AXTI, -16.79%▼): Relative Volume 23.9.

Rain Therapeutics Inc (RAIN, 1.86%▲): Relative Volume 13.9.

The York Water Company (YORW, -10.67%▼): Relative Volume 7.6.

Invacare Corporation (IVC, 18.43%▲):  Relative Volume 7.1.

Cadiz Inc (CDZI, -8.45%▼): Relative Volume 5.7.

Key Movers in Large Cap:

Avantor Inc (AVTR, 0.00%▲)has announced the pricing of its secondary offering of 2.8m shares, at $42 per share. The relative volume of the stock was 2.6.

Leslie’s Inc (LESL, -10.36%▼) is planning to sell 14.5m shares of its stock. The relative volume of the stock was 2.4.

The other movers in the large-cap segment included: 

Littelfuse Inc (LFUS, -1.61%▼): Relative Volume 3.2.

Allegro Microsystems Inc (ALGM, 8.37%▲):  Relative Volume 2.8.

Datto Holding Corp (MSP, 1.15%▲): Relative Volume 2.7.

TransUnion (TRU, -2.04%▼): Relative Volume 2.5.

Mattel Inc (MAT, 2.55%▲): Relative Volume 2.4.

Report Card:

The computer technology company, Oracle Corporation (ORCL, -0.88%▼) reported a 4% y-o-y increase in revenue to $9.7bn, while the GAAP earnings per share were up 19% to $0.86. The stock slid a little less than 2% after hours. 

The fourth-quarter revenue for Matrix Service Co (MTRX, 4.15%▲)increased 18% y-o-y to $174.9m, compared to the previous quarter’s $148.3m. The company has reported a strong balance sheet with no outstanding debt and a cash of $83.9m. The stock slid by around 9% after hours. 

On the Lookout:

The Consumer Price Index is expected to slide by a basis point, from July’s 0.5% to 0.4%, even as the Core CPI is expected to remain unchanged at 0.3%. 

The NFIB Small Business Index is also expected to decline from July’s 99.7 to 99.0. 

Some IPOs to look out for:

Coffee giant Dutch Bros will be valued between $3bn to $3.3bn as it is offering over 21m shares of its common stock priced between $15 and $17, per share. 

Genworth’s mortgage insurer, Enact Holdings, is offering 13.3m shares of its common stock, priced between $19 and $20 per share. The company will be valued at around $3.3bn.   

Unusually high shorter-term CALL options activity seen on Affirm Holdings Inc (AFRM, -11.64%▼), GlaxoSmithKline Plc (GSK, 0.02%▲), Baidu Inc. (BIDU, -0.51%▼), Crocs Inc (CROX, -4.43%▼), and ZIM Integrated Shipping (ZIM, 0.14%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on United States Steel Corporation (X, -2.08%▼), Capri Holdings (CPRI, -0.11%▼), Coca-Cola Co (KO, 0.83%▲), Pinduoduo Inc (PDD, 0.40%▲), and SunRun Inc (RUN, 2.80%▲) among others.

Other Asset Classes:

Crude Oil Prices - Prices rose to a six-week high as Storm Nicholasposes a danger to the US Gulf Coast, which is still reeling under the effects of Hurricane Ida. Also, OPEC sees the delta variant weighing heavily on Oil demand. Brent traded well over the $74 per barrel mark, Tuesday morning, while WTI Crude has risen over the $71 per barrel mark. 

The US Dollar (92.52,  -0.17%▼) has fallen back post the Federal Budget deficit data, and ahead of some key economic data, after making some gains Monday afternoon. 

The US Treasury Yields climbed Tuesday morning as the CPI is expected to fall, compared to July and the Core CPI is expected to remain unchanged. The 10 Year US Treasury Yield was trading into the green zone at 1.345%.

Global Markets:

The Asian Markets were mixed as the tech crackdown in China and an eye on US inflation data weighed heavily on the investor sentiment. Hang Seng fell by more than 309 points or 1.20% along with Shanghai, losing 1.42%. Tokyo’s Nikkei rose more than 222 points or 0.73%. 

Apart from the US inflation data, a slide in luxury and mining stocks weighed down the  European markets early Tuesday morning. FTSE, was down 0.29% soon after the opening, while CAC had slid 45 points or 0.68%. Pan-EU index Stoxx-600 was trading lower by 0.17%. The only green index DAX  was up 0.08%.

Meanwhile on Researchfin.ai

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! Signup, we have a 30-day free trial.

If you enjoy reading our newsletter, do make sure to include researchfin@substack.com in your approved sender’s list and you'll never miss the newsletter.

See you tomorrow! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Ceaseless Whiplash! ]]>https://openingbell.researchfin.ai/p/ceaseless-whiplashhttps://openingbell.researchfin.ai/p/ceaseless-whiplashMon, 13 Sep 2021 11:41:42 GMTGood Morning! 

No end in sight! The tech crackdown continues in China as the government now intends to break Ant Group Co’s Alipay business, calling for “better protection” of gig economy worker’s rights. Hang Seng tech index slid 2.3% lower with Alibaba, Meituan, and Tencent propelling the slide. Earlier, ride-hailing giants were asked to improve the distribution of income and ensure rest periods for workers.  

China-woes! Sensing that a government approval might be a hard nut to crack, the private equity group Blackstone has dropped its $3bn bid for a controlling stake in Soho China, one of the country’s largest real estate developers. Soho China stock fell 40% Monday.  

Apple’s legal injunction! A district judge in California has ruled that Apple can no longer force developers to use in-app purchases. Shares of gaming companies including Roblox, Zynga, and Playtika soared as Apple stock tumbled on Friday. 

Mark-philanthropist-Zuckerberg! Facebook has committed to buy $100mworth of unpaid invoices from small businesses run by women and minorities - supporting more than 30,000 small businesses. 

The legitimacy question! South Korea’s vibrant Crypto market might face a $2.6bn wipeout, with 40 of its 60 Crypto exchanges potentially failing to meet conditions set by the government, while asking Crypto exchanges to register as legitimatetrading platforms. 

The Producer Price Index has recorded a solid increase in August by 0.7%, the highest gain in 11 years as Covid’s resurgence has kept supply chains constricted. The red hot PCI suggests inflation might persist for longer than earlier expected.   

US Markets:

Cleveland Fed President Loretta Mester’s comments, that she would like the Central Bank to taper asset purchases despite the weak August jobs report, further weighed on the investor sentiment Friday - making stocks tumble for the fifth consecutive trading session.  

S&P 500 (-0.77%▼) slumped to its worst weekly showing, since February. Dow Jones (-0.78%▼) slid 271 points, while Russel 2000 (-0.96%▼) suffered substantial losses as well. 

Tech heavy Nasdaq (-0.77%▼) shed more than 120 points Friday. 

Sectors at the S&P 500 were no different, and into the red zone without any exception. 

Utilities (-1.57%▼) and Real Estate (-1.23%▼) were the worst hit, followed by Technology (-0.98%▼), Communication Services (-0.90%▼), Consumer Staples (-0.94%▼), and Healthcare (-0.94%▼).  

Financials (-0.65%▼), Consumer Discretionary (-0.57%▼), Industrials (-0.47%▼), Energy (-0.04%▼), and Materials (-0.05%▼), also slid, a little less than other sectors. 

Futures!

The US stock futures provided some hope of a rebound. 

As of 06:30 ET, all the indices were green: Dow Futures (0.52%▲),  Nasdaq Futures (0.45%▲), S&P 500 Futures (0.50%▲), and Russel 2000 Futures (0.80%▲).

Key Movers in Small Cap:

Apellis Pharmaceuticals reported disappointing clinical trial data for a geographic atrophy candidate that could end up competing with Zimura, the lead candidate of Iveric Bio Inc (ISEE, 62.49%▲). The Relative Volume of the stock was 51.1.

Apellis Pharmaceuticals Inc (APLS, -37.19%▼) was hit severely after announcing the clinical trial results. The Relative Volume of the stock was 24.1.

Private equity firm, The Jordan Company has agreed to buy Echo Global Logistics (ECHO, 52.30%▲) for $1.3bn, a premium of 54% to its Thursday’s close and more than 30% above its all-time-high. The Relative Volume of the stock was 35.8.

Ortho Clinical Diagnostics (OCDX, 2.19%▲) Friday announced the pricing of its previously announced secondary offering of 22m shares of its common stock - priced at $17.50 per share. The Relative Volume of the stock was 10.1.

Mersana Therapeutics Inc (MRSN, -39.12%▼) announced disappointing interim data on the company’s phase 1 trial, evaluating Upifitamab Rilsodotin used in Ovarian cancer. The Relative Volume of the stock was 6.2.

The other movers in the small-cap segment included: 

Aligos Therapeutics Inc (ALGS, -2.44%▼): Relative Volume 8.9.

Blackstone Mortgage Trust (BXMT, -4.66%▼): Relative Volume 6.6.

A-Mark Precious Metals Inc (AMRK, 12.01%▲): Relative Volume 6.1.

The Liberty Braves Group (BATRK, 1.92%▲):  Relative Volume 6.0.

Dave & Buster’s Entertainment Inc (PLAY, 1.16%▲): Relative Volume 5.7.

Key Movers in Large Cap:

McAfee Corp (MCFE, -10.38%▼) Friday announced the pricing of its secondary offering of 20m shares, at $22.50 per share. The relative volume of the stock was 13.4.

Maravai Life Sciences Inc (MRVI, -11.75%▼) fell on the news that a group of stockholders had priced a substantial secondary share sale. The relative volume of the stock was 10.4.

Agilon Health Inc (AGL, 0.76%▲) announced the pricing of a secondary offering of 17m shares, at $30 per share. The relative volume of the stock was 8.8. 

The other movers in the large-cap segment included: 

Hexcel Corporation (HXL, 2.49%▲): Relative Volume 8.5.

VICI Properties Inc (VICI, -0.50%▼):  Relative Volume 6.7.

Clarivate Plc (CLVT, -9.97%▼): Relative Volume 5.7.

Teradata Corporation (TDC, -9.35%▼): Relative Volume 4.0.

World Wrestling Entertainment (WWE, 3.65%▲): Relative Volume 3.3.

Report Card:

The retail company Kroger Co (KR, -7.50%▼) reported earnings of $0.61 per share on revenue of $31.68bn. While the revenue was in tune with the expectations, the EPS fell well short of the expected $3.06 per share. The stock was flat after hours. 

The increased research and development and G&A expenses have weighed Omega Therapeutics (OMGA, 3.88%▲) making its loss widen to $15.4m or $3.36 per share compared to last year’s $6.3m or $1.58, per share. The stock was flat after hours. 

The pharmaceutical company, Beyond Spring Inc (BYSI, 0.49%▲), has reported a loss of $0.49 per share, well in sync with what was expected. Revenue of the company $0.34m however missed the estimates by 97.56%. The stock continued to climb after hours. 

SigmaTron International Inc (SGMA, 32.59%▲) reported quarterly earnings of $2.06 per share, compared to a loss of 21 cents per share in the same period the prior year. Revenue of $85.7m was also ahead of the prior year’s $60.5m. 

On the Lookout:

The Federal Budget for the month of August will be updated, from a previous reading of $200bn. 

Some IPOs to keep a look over:

Definitive Healthcare aims to raise $350m by offering 15.55m shares of its common stock, at a price ranging between $21 and $24 per share. 

Dice Therapeutics is offering 10m shares of its common stock, in a bid to raise $160m, in a price range of $15 to $17 per share. 

Unusually high shorter-term CALL options activity seen on Apellis Pharmaceuticals Inc (APLS, -37.19%▼), General Motors (GM, 2.21%▲), Apple Inc. (AAPL, -3.31%▼), Occidental Petroleum (OXY, -0.36%▼), and Trade Desk Inc (TTD, -0.05%▼) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Affirm Holdings Inc (AFRM, 34.37%▲), Macy’s Inc (M, -4.62%▼), Tesla Inc(TSLA, -2.46%▼), Cytokinetics Inc (CYTK, -1.76%▼), and Las Vegas Sands (LVS, -4.19%▼) among others.

Other Asset Classes:

Crude Oil Prices - The production cut in the US, following Hurrican Ida, outweighed the bearish effect of Saudi Arabia’s price cut for Asia and China releasing its state reserves for the first time in history. Brent traded well over the $73 per barrel mark, Monday morning, while WTI Crude has crossed the $70 per barrel mark. 

The US Dollar (92.80, 0.23%▲) is retargeting the 93 mark, as it trades near a multi-day high in spite of the bearish or steady performance of the Treasury Yields. 

The US Treasury Yields fell a little to start off the week on a negative note. The 10 Year US Treasury Yield was trading into the negative territory at 1.334%. Also, an auction will be held for $48bn of 13-week bills and $45bn of 26-week bills.   

Global Markets:

The Asian Markets were mixed after Friday’s rout in the US markets and a record high US inflation ramping up concerns that Fed will have to tighten monetary policy sooner than later. Hang Seng, fell by more than 430 points or 1.65% while Shanghai and Nikkei rose 0.33% and 0.22% respectively. 

Auto-makers, Banks, and Oil shares registered some early gains propelling the  European markets higher, as investors counted on strong economic recovery in the EU. FTSE, was up 0.52% soon after the opening, while CAC had gained 0.53%. DAX  was up 0.71%andpan-EU index Stoxx-600 was trading higher by 0.43%.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: JAMF Holding Corp (JAMF), Prothena Corporation (PRTA), Quidel Corporation (QDEL), and Affirm Holdings Inc. (AFRM). Signup, we have a 30-day free trial.

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

If you enjoy reading our newsletter, do make sure to include researchfin@substack.com in your approved sender’s list and you'll never miss the newsletter.

Have a great day! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[“Don’t” Return to Office!]]>https://openingbell.researchfin.ai/p/dont-return-to-officehttps://openingbell.researchfin.ai/p/dont-return-to-officeFri, 10 Sep 2021 12:07:30 GMTGood Morning!

The pandemic is far from over! The uncertainty of Covid-19 was evident as Microsoft Inc scrapped its return-to-work date - earlier set to be October 4 without committing a new date.  

Historic! Beijing has decided to auction state crude oil reserves to some domestic refineries, for the first time ever, to cool off high raw material costs for manufacturers. Crude Oil fell to a two-week low before rebounding.  

The lady isn’t tapering! The ECB has slowed its bond purchases, but President Christine Lagarde said that the Bank was recalibrating and not tapering.EU inflation in August notched a decade high of 3%, and the GDP across the 19 member common-currency bloc surged 2%. EU markets inch higher. 

Delta makes the UK economy crawl! In July, amid a resurgence of Covid, the Economic Output rose just 0.1%- lowest since January - way lower than the estimated 0.6%. Only 2 of the 26 analysts had predicted such a weak reading. FTSE rallied regardless.  

The passage out of India! Ford Motors has decided to stop manufacturing in India and “restructure” its operations, as thousands will be left jobless. The company will spend$2bn in restructuring the India operations.  

Toyota hit! The world’s largest carmaker until recent months could escape the chip shortages thanks to its large chip inventory and supply chain management experience from past natural disasters. But the carmaker announced that annual production would be trimmed by 3 percent.

Initial Jobless Claims have hit another pandemic-era low of310,000, considerably lower than the expected 335,000 and the previous week’s 345,000. Continuing Jobless Claims have fallen by 22,000 to 2.78m, higher than the estimated 2.73m. 

US Markets:

A volatile trading day ended with stocks suffering losses for the fourth consecutive trading session Thursday, as mixed economic data kept investors on the edge about the timing of stimulus tapering.  

S&P 500 (-0.46%▼) shed an intra-day gain and closed at 4493.28. Dow Jones (-0.43%▼) tumbled more than 150 points, while Russel 2000 (-0.02%▼) closed in the negative territory, only marginally. 

Tech heavy Nasdaq (-0.38%▼) also continued with the losing ways as well. 

Sectors at the S&P 500 were mixed, with only Energy (0.12%▲), Materials (0.07%▲), and Financials (0.24%▲) eking out some gains. 

Real Estate (-2.12%▼) and Healthcare (-1.17%▼) were at the bottom of the losing sectors, followed by Technology (-0.42%▼), Communication Services (-0.32%▼), Consumer Staples (-0.31%▼), Utilities (-0.80%▼), Consumer Discretionary (-0.28%▼), and Industrials (-0.47%▼). 

Futures!

The US stock futures looked to take a cue from the Global Markets. 

As of 07:00 ET, all the indices were in in the positive territory, without an exception: Dow Futures (0.48%▲), Nasdaq Futures (0.44%▲), S&P 500 Futures (0.41%▲), and Russell 2000 Futures (0.66%▲).

Key Movers in Small Cap:

Humanigen Inc (HGEN, -47.25%▼) has got its Emergency Use Authorization (EUA) request for Lenzilumab in hospitalized Covid-19 patients, rejected by the FDA. The Relative Volume of the stock was 39.7.

Gevo Inc (GEVO, 37.13%▲) and Chevron Corp have announced the intent to jointly invest in building and operating one or more new facilities that would process inedible corn to produce sustainable aviation fuel. The Relative Volume of the stock was 22.8.

Invacare Corp (IVC, -39.94%▼) expects slower growth for full-year 2021, owing to labor, material, and freight headwinds. The Relative Volume of the stock was 20.8.

AeroVironment Inc (AVAV, -12.80%▼) reported Q1 results for the fiscal year 2022 (ended July 31, 2021) delivering an adjusted loss of $0.17 per share. The Relative Volume of the stock was 8.3.

The Lovesac Company (LOVE, 24.10%▲) reported financial results, beating expectations by a wide margin. The Relative Volume of the stock was 6.8.

The other movers in the small-cap segment included: 

Cardiff Oncology Inc (CRDF, -0.85%▼): Relative Volume 14.3.

Siga Technologies Inc (SIGA, 0.89%▲): Relative Volume 7.6.

Byline Bancorp Inc (BY, -0.92%▼): Relative Volume 7.5.

Oportun Financial Corp. (OPRT, -1.53%▼):  Relative Volume 7.4.

Inogen Inc (INGN, -15.48%▼): Relative Volume 6.4.

Key Movers in Large Cap:

Certara Inc (CERT, -3.36%▼) announced the pricing of its secondary public offering, at $31 per share to the public. The relative volume of the stock was 10.7.

Lululemon Athletica Inc (LULU, 10.47%▲) hit an all-time high after Wednesday’s after-market financial report beat expectations comprehensively. The relative volume of the stock was 7.3.

Biogen Inc (BIIB, -6.66%▼) has reported that its newly approved Alzheimer’s drug, Aduhelm, was off to a slower-than-expected start since its commercial launch roughly three months ago. The relative volume of the stock was 4.1.

The other movers in the large-cap segment included: 

PTC Inc (PTC, -1.85%▼): Relative Volume 4.9.

W. R. Grace & Co (GRA, 0.42%▲):  Relative Volume 4.9.

Lennar Corporation  (LENB, -0.72%▼): Relative Volume 4.1.

Agilon Health Inc (AGL, -2.54%▼): Relative Volume 4.0.

RH (RH, 7.78%▲): Relative Volume 4.0.

Report Card:

A-Mark Precious Metals (AMRK, 5.73%▲) reported an EPS of $4.28, comprehensively ahead of the estimated $2.40, and last year’s $2.49. The revenue of $2.1bn beat the expectations by 21.37%. The stock climbed more than 8% after hours. 

Net sales of the Academy Sports & Outdoors Inc (ASO, 1.54%▲) increased 11.5% y-o-y to an all-time quarterly high of $1.79bn. The gross margin of the company increased 29.4% to $642.5m. The stock continued to climb after hours. 

National Beverage Company (FIZZ, 1.39%▲) reported earnings of $0.58 per share, ahead of the estimated $0.48 per share, but lower than last year’s $0.55. The revenue of $311.71m surpassed the estimates by 7.34%. The stock soared more than 5% after hours.

Verint Systems Inc (VRNT, -0.99%▼) reported a profit of 58 cents per share, ahead of the estimated earnings of 48 cents per share. The revenue of $215.6m was also more than the expected $209m. The stock climbed more than 1% after hours. 

On the Lookout:

The Producer Price Index for the month of August is expected to decline to 0.6% from the previous print of 1.0%. 

The Wholesale Inventories (revision), for the month of July, is expected to remain unchanged at 0.6%. 

Unusually high shorter-term CALL options activity seen on Gap Inc. (GPS, 1.23%▲), International Game Technology (IGT, 1.59%▲), Gevo Inc. (GEVO, 37.13%▲), Wisekey International Holding (WKEY, -6.44%▼), and BioNTech  (BNTX, 4.50%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Freeport-McMoRan Inc (FCX, 1.28%▲), Rocket Lab USA Inc (RKLB, 37.31%▲), AMC Entertainment Holding (AMC, 2.38%▲), Take Two Interactive Software Inc (TTWO, -1.52%▼), and ZIM Integrated Shipping (ZIM, 4.33%▲) among others.

Other Asset Classes:

Crude Oil Prices - Prices clawed back, early Friday morning, after falling to a two-week low late Thursday as China announced plans to release state oil reserves. The US weekly crude draw being smaller than expected had pulled down the prices as well. Brent traded a little over $72 per barrel mark, Friday morning, while WTI Crude was hovering a little over the $68 per barrel mark. 

The US Dollar (92.38, -0.11%▼) is struggling to find direction even as concerns on economic recovery, in wake of a Covid spike, grow louder. 

The US Treasury Yields were buoyed early Friday morning as the US Jobless Claims fell to a pandemic era low. The 10 Year US Treasury Yield was trading into the green zone at 1.324%.  

Global Markets:

The Asian Markets rebounded Friday as concerns eased around stimulus tapering by central banks, and China authorities clarified that Beijing won’t halt new game approvals. The tech shares in Hong Kong enjoyed a rally, after Thursday’s steep drawdown. Hang Seng gained 466 points or 1.81%, Tokyo’s Nikkei gained 373 points or 1.25%, while Shanghai closed in the green zone, up 0.27%. 

European markets, after hitting a three-week low Thursday, regained some semblance as the ECB clarified that it was calibrating but not tapering emergency support. FTSE, was up 0.31% soon after the opening, while CAC had gained 0.22%. Both DAX andpan-EU index Stoxx-600 was up 0.19%.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Retail Value Inc. (RVI), Costamare Inc (CMRE), California Resources Corp (CRC), and Ambarella Inc. (AMBA). Signup, we have a 30-day free trial.

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Have a joyous weekend! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Game-Stop!]]>https://openingbell.researchfin.ai/p/game-stophttps://openingbell.researchfin.ai/p/game-stopThu, 09 Sep 2021 12:11:08 GMTGood Morning! 

Beijing has temporarily suspended approvals of new games, as the crackdown on the tech sector continues. Tencent slid 8%, NetEase 13%, leading the $60bn loss in gaming stocks. Hang Seng tech index tumbled 2.30%. Tencent and other gaming companies were summoned. 

Out of the Ark! Cathie Wood’s Ark has “dramatically” cut down China exposure - amid the ongoing crackdown- and is now focussing on Beijing-friendly companies like Pinduoduo and J D Logistics. 

Muscling through the ‘Silicon’! Hedge funds are pushing into Silicon Valley, through investments in private companies. In 770 transactions this year, thus far, hedge funds have invested a record $153bn in private companies. 

The European Central Bank is expected to kick off the tapering debate today, as people inside and out of the bank believe it is high time that the ECB reduces its monetary stimulus. FTSE slid to a three-week low, as EU markets extended losses. 

Equity deal of the year! Tencent-backed e-commerce and gaming company, Sea Ltd, is aiming to raise $6.3bn, the largest equity deal of the year, by offering 11 million shares. Sea Ltd has risen 70% this year.  

The pandemic story! Job Openings in the US climbed to an all-time high of10.9min the month of July, with Healthcare and Social Assistance adding most of the positions.

US Markets:

With investors concerned about economic recovery, amid a rise in delta variant cases the world over, stocks in the US continued the downward trend for the third consecutive session Wednesday.  

S&P 500 (-0.13%▼) closed at 4514.07, after shedding a little less than 6 points. Dow Jones (-0.20%▼) slid close to 69 points, while Russel 2000 (-1.14%▼) closed at 2249.73 after losing about 26 points.  

Tech heavy Nasdaq (-0.35%▼) notched its biggest drop in two weeks, with substantial losses in big-tech stocks including Apple (AAPL, -1.01%▼), Facebook(FB, -1.21%▼), and Alphabet  (GOOGL, -0.41%▼).  

Sectors at the S&P 500 were mixed, with only Consumer Discretionary (0.15%▲), Industrials (0.18%▲), and Real Estate (0.56%▲) eking out some gains. 

Energy (-1.30%▼) and Materials (-1.12%▼) were at the bottom of the list, followed by Technology (-0.41%▼), and Communication Services (-0.43%▼), Healthcare (-0.08%▼), Consumer Staples (-0.31%▼), Financials (-0.34%▼), and Utilities (-0.80%▼). 

Futures!

The US stock futures looked set for another day of losses. 

As of 07:00 ET, all the indices were in red, without an exception: Dow Futures (-0.19%▼),  Nasdaq Futures (-0.18%▼), S&P 500 Futures (-0.22%▼), and Russel 2000 Futures (-0.43%▼). 

Key Movers in Small Cap:

Kadmon Holdings Inc (KDMN, 71.13%▲) Wednesday announced a merger with and into Sanofi Inc, in a deal worth $1.9bn. The Relative Volume of the stock was 43.1.

Radius Global Infrastructure (RADI, -3.12%▼) has announced to offer, subject to market conditions, a $200m aggregate principal amount of convertible senior notes due 2026. The Relative Volume of the stock was 6.1.

Alector Inc (ALEC, -18.97%▼) Wednesday announced the departure of two high-level executives including the Chief Operating Officer and Chief Medical Officer. The Relative Volume of the stock was 6.0.

Cincinnati Bell Inc.  (CBB, -0.06%▼) has announced the completion of its acquisition by Macquarie Infrastructure Partners. The Relative Volume of the stock was 5.8.

Rev Group Inc (REVG, -12.02%▼) reported mixed earnings. The Relative Volume of the stock was 4.5. 

The other movers in the small-cap segment included: 

Inozyme Pharma Inc (INZY, -14.66%▼): Relative Volume 12.1.

Kezar Lifesciences Inc (KZR, -0.76%▼): Relative Volume 6.7.

Vapotherm Inc (VAPO, 3.75%▲): Relative Volume 5.7.

Ortho Clinical Holdings (OCDX, -4.42%▼):  Relative Volume 4.8.

Hingham Institution for Savings.  (HIFS, -0.48%▼): Relative Volume 4.7.

Key Movers in Large Cap:

ICU Medical Inc (ICUI, 26.23%▲) announced its plans to acquire the Smiths Medical division from Smiths Group Plc, for $2.35bn cash. The relative volume of the stock was 29.1.

Spectrum Brands Holdings Inc (SPB, 17.79%▲) announced a definitive agreement to sell its hardware and home improvement segment for $4.3bn in cash. The relative volume of the stock was 11.2.

Vertiv Holdings Co (VRT, -7.31%▼) has bought E & I Engineering Ireland for $1.8bn. The relative volume of the stock was 4.5.

Perrigo Company Plc (PRGO, 8.99%▲) has announced it will acquire HRA Pharma for $2.1bn in cash. The relative volume of the stock was 4.4.

Coty Inc (COTY, -10.72%▼) has announced a secondary public offering of 50m shares. The relative volume of the stock was 4.1.

The other movers in the large-cap segment included: 

First Solar Inc (FSLR, 1.01%▲): Relative Volume 3.9.

Smartsheet Inc. (SMAR, -14.38%▼):  Relative Volume 3.7.

Casey’s General Stores Inc.  (CASY, -4.75%▼): Relative Volume 3.6.

Agilon Health Inc (AGL, -8.88%▼): Relative Volume 3.4.

McAfee Corp. (MCFE, -8.75%▼): Relative Volume 3.3.

Report Card:

Facility management provider, ABM Industries Inc (ABM, 0.06%▲), came out with earnings of $0.90 per share, beating the estimates of $0.80 per share. Revenue of $1.54bn surpassed the estimates by 0.65%. The stock slid more than 4% after hours. 

GameStop Corp (GME, -0.10%▼) reported a loss of 76 cents per share, against the estimated loss of 67 cents. Revenue of $1.18bn was ahead of the expected $1.12bn. The stock fell a little less than 9% after hours. 

Lululemon Athletica Inc (LULU, -1.45%▼) reported an adjusted EPS of $1.65, ahead of the expected $1.19 with revenue of $1.45bn beating estimates of $1.34bn quite easily. The stock soared 13.75% after hours.  

Rev Group Inc (REVG, -12.02%▼) reported earnings of $0.37 per share, narrowly beating the estimated $0.33 per share. The revenue of $593.3m surpassed the estimates by over 10%. The stock remained flat after hours. 

On the Lookout:

Initial Jobless Claims for the week ended September 4 are expected to drop to 335,000 from the prior week’s 340,000; while the Continuing Jobless Claims for the week ended August 28 are due today as well, with a previous print of 2.75m. 

Unusually high shorter-term CALL options activity seen on Wisekey International (WKEY, 13.83%▲), Advanced Micro Devices (AMD, -2.73%▼), UiPath Inc. (PATH,  -9.62%▼), PVH Corp (PVH, -3.66%▼), and Vinco Ventures (BBIG, 5.80%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Micron Technology Inc (MU, -1.86%▼), International Game Technology (IGT, -3.30%▼), Bristol-Myers Squibb (BMY, -0.40%▼), Lululemon Athletica Inc (LULU, -1.45%▼), and Momentus Inc (MNTS,  -7.08%▼) among others.

Other Asset Classes:

Crude Oil Prices - despite most of the US Gulf still offline, 10 days after Hurricane Ida, crippling production, and slashing of prices by Saudi Arabia for Asia, the Crude Oil prices have remained more or less static, for at least the last three trading sessions. Brent traded a little over $72 per barrel mark, while WTI Crude climbed to $69 per barrel mark. 

The US Dollar (92.56, -0.10%▼) gave up some gains made over the last two days, ahead of the scheduled Jobless Claims data, due today. 

The US Treasury Yields, ebbed lower Thursday morning as economists expected a drop in Jobless claims, and mounting concerns regarding economic recovery amid a rise in Covid cases. The 10 Year US Treasury Yield was trading in the red zone at 1.324%.  

Global Markets:

The Asian Markets ended mixed Thursday, as investors remain worried about economic recovery amid a fresh Covid outbreak and an extended crackdown on the tech sector by Chinese authorities. Hang Seng, weighed down by the tech sector, slid well over 600 points or 2.30%.Tokyo’s Nikkei fell by 0.57%, while Shanghai closed in the green zone, up 0.49%. 

European markets hit a three-week low Thursday morning as expectations on ECB setting a timeline on starting to pair its bond purchases, today. FTSE, slid 1.31% soon after the opening, while CAC was down 0.51%. DAX lost more than 70 points in, early morning, while as pan-EU index Stoxx-600 0.62% into the red zone.

Meanwhile on Researchfin.ai

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! Signup, we have a 30-day free trial.

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See you Friday! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[The Taper Conundrum!]]>https://openingbell.researchfin.ai/p/the-taper-conundrumhttps://openingbell.researchfin.ai/p/the-taper-conundrumWed, 08 Sep 2021 11:47:35 GMTGood Morning! 

The billion-dollar question! The Fed looks all the more divided on whether to taper stimulus or not as President of the St. Louis Fed, James Bullard rejects concerns that labor market recovery is faltering despite only 235,000 jobs being created in August. He reiterated his call for the downsizing of the bond-buying program. 

The Chinese approval! BlackRock Inc. has raised around $1bn for the first-ever mutual fund, solely run by a foreign firm that is allowed to sell to Chinese individuals. 

Buy now pay later! The sector is getting bigger, with another major acquisition - this time of a Japanese “by now pay later” platform Paidy, by PayPal for $2.7bn. And speaking of acquisitions, Microsoft has bought a video editing software start-up Clipchamp.

Thank Covid! Vaccine maker Moderna Inc. is having a ball. The stock gained4.73% Tuesday - its fifth consecutive gain - as its price target gets a 77% boost at Morgan Stanely. 

Roger that! Swiss running-shoe maker, On Holding AG, backed by tennis great Roger Federer plans to raise $622m - in a New York public offering - of 31.1m shares priced between $18 and $20 per share. The sale will value the shoemaker at $5.5bn.  

SEC has threatened Coinbasewith legal action if the company goes ahead with plans to launch the program, allowing users to earn interest by lending Crypto assets. 

Endless woes for Crypto! Theturbulentroll-out of Bitcoin as a legal tender in El Salvador, as citizens protest the move, weighed the world’s largest cryptocurrency down. Bitcoin kept tumbling for the second day, losing 13.4% Wednesday morning.

US Markets:

Worries that economic recovery was faltering, amid a rise in Covid cases, the US stocks retreated from record highs Tuesday, with S&P 500 (-0.34%▼) closing at 4520.03.

Dow Jones (-0.76%▼) shed more than 269 points to close at 35100.00, while Russel 2000 (-0.72%▼) closed at 2275.61. 

Tech heavy Nasdaq (0.15%▲), was the only major index to eke out some gains, despite the fact that 7 out of ten stocks at the index suffered losses. The rally at Nasdaq was driven by tech giants, including Netflix (NFLX, 2.74%▲), Amazon (AMZN, 0.90%▲), Apple (AAPL, 1.55%▲), Facebook(FB, 1.57%▲), and Alphabet  (GOOGL, 0.38%▲).  

Sectors at the S&P 500 were mixed, with Consumer Discretionary (0.36%▲), Technology (0.03%▲), and Communication Services (0.44%▲) eking out some gains. 

The other 8 sectors were into the red zone. Industrials (-1.77%▼), Materials (-1.34%▼), and Real Estate (-1.13%▼) were at the bottom of the chart. 

Other losing sectors included Energy (-0.57%▼), Utilities (-0.80%▼), Financials (-0.57%▼), Consumer Staples (-0.05%▼),  and Healthcare (-0.57%▼). 

Futures!

The US stock futures looked set to extend the losing streak of Tuesday. 

As of 06:30 ET, all the indices were in red, without an exception: Dow Futures (-0.14%▼),  Nasdaq Futures (-0.05%▼), S&P 500 Futures (-0.08%▼), and Russel 2000 Futures (-0.11%▼). 

Key Movers in Small Cap:

Columbia Property Trust (CXP, 15.18%▲) has been acquired by Pacific Investment Management Company, for $3.9bn. The Relative Volume of the stock was 55.7.

Pliant Therapeutics (PLRX, -0.83%▼) could not sustain the morning momentum gained after the company reported positive data from a phase 2 trial with its experimental fibrosis therapy. The Relative Volume of the stock was 17.0.

The other movers in the small-cap segment included: 

Hingham Institution for Savings (HIFS, -0.42%▼): Relative Volume 14.7.

United States Lime and Minerals (USLM, -2.36%▼): Relative Volume 8.3.

Marine Products Corporation (MPX, -9.34%▼): Relative Volume 8.3.

Xoma Corporation  (XOMA, -12.53%▼):  Relative Volume 6.1.

Cincinnati Bell  Inc.  (CBB, -0.06%▼): Relative Volume 5.7.

Key Movers in Large Cap:

The Tandem Diabetes Care Inc (TNDM, 13.23%▲) stock will be added to the S&P MIdCap 400 index, effective September 20. The relative volume of the stock was 6.7.

Tinder owner Match Group Inc (MTCH, 7.54%▲) will replace Ireland-based, Perrigo Co. at the S&P 500 index, effective September 20. The relative volume of the stock was 5.6.

Medallia Inc (MDLA, -0.30%▼) announced the expiration of the 40-day “go-shop” period under the terms of the previously announced acquisition of the company by Thoma Bravo, in an all-cash transaction valuing $6.4bn. 

The other movers in the large-cap segment included: 

MarketAxess Holdings (MKTX, -5.03%▼): Relative Volume 3.0.

Ceridian HCM Holding Inc. (CDAY, 0.13%▲):  Relative Volume 3.0.

SEI Investments Company.  (SEIC, -4.17%▼): Relative Volume 2.9.

3M Company. (MMM, -4.53%▼): Relative Volume 2.8.

Bently Systems Inc. (BSY, 2.69%▲): Relative Volume 2.8.

Report Card:

Automation software company UiPath Inc (PATH, -1.44%▼) reported a 40% y-o-y increase in revenue to $195.5m, with a profit of a penny a share. Expectations were the company will post a loss of 5 cents per share on revenue of $184.3m. The stock slid around 8% after hours.

Casey’s General Stores Inc (CASY, -1.86%▼) reported an EPS of $3.19, ahead of the estimated $2.83, while revenue of the company came out at $3.18bn, 3.44% ahead of the estimates. The stock climbed a little in extended trading. 

Coupa Software Inc (COUP, 0.54%▲) reported a 42% y-o-y increase in revenue to $179m, while the non-GAAP operating income came out at $26.7m compared to a profit of $12.3m for the same period last year. The stock soared more than 5% in extended trading. 

On the Lookout:

Job Openings, for the month of July, are expected to remain unchanged at 10.1m, while Consumer Credit for the same period is expected to drop from $38bn to $26bn. 

The Beige Book, formally known as the Summary of Commentary on Economic Condition, will be published today. 

Unusually high shorter-term CALL options activity seen on Hyzon Motors Inc (HYZN, -10.19%▼), DiDi Global Inc (DIDI, 7.55%▲), Baidu Inc. (BIDU, 2.27%▲), Fox Corp (FOXA, -0.38%▼), and OfferPad Solutions Inc (OPAD, 26.30%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Twitter Inc (TWTR, 0.49%▲), Snowflake Inc (SNOW, 0.80%▲), Marathon Digital Holdings Inc (MARA, -9.26%▼), AMC Entertainment Holdings (AMC, 8.66%▲), and Smartsheet Inc (SMAR,  -1.23%▼) among others.

Other Asset Classes:

Crude Oil Prices - with more than 79% of the US Gulf still offline, 9 days after Hurricane Ida crippled production, the slumping Crude Oil prices retracted early Wednesday morning.  Brent traded a little over $72 per barrel mark, while WTI Crude was well above the $68 per barrel mark. 

The US Dollar (92.61, 0.10%▲) remained bullish as equities retreated amid concerns about the rise in Covid and its adverse effect on global economic recovery. 

The US Treasury Yields, following a bullish run on Tuesday, shed some of the gains early Wednesday morning. The 10 Year US Treasury Yield was trading in the red zone at  1.355%.  

Global Markets:

Following a mixed day in the US stocks, the Asian Markets were mostly lower on Wednesday as delta variant concerns weighed heavily over the investors’ minds. Shanghai closed 1.08% into the red zone, and Hang Seng fell by 0.27% for the day. Tokyo’s Nikkei was the exception and advanced in excess of 265 points or 0.89%. 

European markets followed Asian and the US markets into the red zone as investors have their eyes set on the ECB meeting, scheduled this week. FTSE, slid 0.88% soon after the opening, while CAC was down 1.13%. DAX fell 1.29%, early Wednesday morning even as the pan-EU index Stoxx-600 was also down by more than 1%.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Builders First Source Inc. (BLDR), Matson Inc (MATX), Harmony Biosciences (HRMY), Certara Inc. (CERT), Tenable Holdings (TENB), GDS Holdings (GDS), and Nutanix Inc (NTNX). Signup, we have a 30-day free trial.

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

If you enjoy reading our newsletter, do make sure to include researchfin@substack.com in your approved sender’s list and you'll never miss the newsletter.

Tomorrow, same time! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Code Red!]]>https://openingbell.researchfin.ai/p/code-redhttps://openingbell.researchfin.ai/p/code-redTue, 07 Sep 2021 12:04:50 GMTHope your weekend was fabulous! 

The economics of climate change! Developed countries have incurred a loss of $3.6tr from severe weather events, over the last 5 decades. A recent UN scientific report on climate change was touted as a “code red for humanity” by the UN Chief.   

The rebound! Pointing to solid global demand, China’s exports have risen at a faster than expected rate of 25.6% for August y-o-y, and way ahead in comparison with July’s 19.3% gain. 

Japan’s PM resigns, stocks soar! Nikkei short past the 30k mark, at the opening today, as investors speculate that outgoing PM, Yoshihide Suga’s successor might unveil a stimulus package worth $273bn. 

The future is electric! As Toyota readies to unveil its first all-electric car, next year, the World’s largest car manufacturer is set to spend around $13.5bn in the next decade to develop batteries and its battery supply system. 

Boris Jhonson, the UK PM, has announced that the country will announce a tax rise of more than $13.8bn a year. The European Central Bank is expected to slow bond purchases as the economy rebounds. FTSE slid and so did other major EU indices. 

The ‘legitimate’ Bitcoin! El Salvador becomes the first company to recognize the most popular CryptoCurrency as a legal tender. The country bought 400 bitcoins, worth $20.9m, a day before it formally adopted bitcoin as a legal tender.   

Futures!

Futures were mixed, early Tuesday morning. 

As of 07:00 ET, all the indices were red, barring Dow Futures (0.10%▲).  Nasdaq Futures (-0.02%▼), and S&P 500 Futures (0.06%▲).

Other Asset Classes:

Crude Oil Prices - The prices remained more or less static after a plunge on Monday owing to Saudi Arabia, the world’s top exporter, slashing crude oil prices for Asia - indicating that global supplies were well fed. Brent traded a little over $72 per barrel mark, in the wee hours Monday, while WTI Crude was in the negative territory. 

The US Dollar (92.28, 0.26%▲) crept higher and looked all set to make gains after last week’s steep sell-off to the sub-92 levels.

The US Treasury Yields Tuesday morning shrugged off Friday’s disappointing jobs data and climbed higher. The 10 Year US Treasury Yield was trading at 1.353%, considerably higher than Monday’s 1.324%, and was in the green zone. Auctions are scheduled to be held today for $51bn of 13-week bills, $48bn of 26-week bills, $34bn of 52-week bills, $45bn of 21-day bills, and $58bn of 3-year notes.   

Global Markets:

The Asian markets ended mixed, with some major indices marching higher, as China’s trade data indicated solid global demand, and the investors have their eyes set on several central bank meetings, to decide on stimulus tapering, in the UK, Australia, and Canada. Shanghai closed 1.51% higher, and Hang Seng rose more than 205 points. Tokyo’s Nikkei advanced in excess of 256 points or 0.86%. 

An unexpected tax hike in the UK and speculations regarding European Central Bank’s meeting weighed heavily over the sentiment in European markets, as major indices traded in red.  FTSE, slid 0.20% soon after the opening, while CAC lost 0.09%. DAX and Stoxx-600 tumbled 0.19% and 0.16%, in that order.

Meanwhile on Researchfin.ai

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! Signup, we have a 30-day free trial.

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Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Who ‘CARES’! ]]>https://openingbell.researchfin.ai/p/who-careshttps://openingbell.researchfin.ai/p/who-caresMon, 06 Sep 2021 12:32:06 GMTGood Morning! 

On Labor Day, around 8.9m Americans will lose all unemployment benefits as two primary anchors of the government's Covid protection package - under the CARES Act - are ending or have already ended. A federal eviction moratorium has already expired.  

The year of mergers and acquisitions! The summer growth in global dealmaking, particularly in otherwise dry August, has propelled the mergers and acquisitions to$3.9tr this year so far - more than double the quantity last year and up from 2019’s $2.6tr. 

To capitalize on a raging market for private equity, Goldman Sachs planning an IPO for alternative asset managers Petershill Partners - in a deal that could be worth more than $5bn.   

The chosen ones! The 66 “select” stocks to be included in Beijing’s new stock exchange - to be launched to help small and medium-sized businesses raise capital - rose more than 30% for a brief period on Monday. 

Warren Buffet backed electric car maker, BYD, has reported a 300% increase in August sales, with 61409 new energy vehicles sold in the month - four times more than the number of vehicles sold a year ago. BYD stock rose 5.5% in morning trade at Hong Kong. 

Shang-Chi and the Legend of the Ten RIngs! Marvell’s latest release has gobbled up an estimated$71.4m at the domestic box office - second-highest by any movie released during the pandemic and highest by any film released over Labor Day weekend. Global ticket sales stand at an estimated $127m for Friday, Saturday, and Sunday. 

The US Non-Farm Payrolls increased, for the month of August, by 235,000 way lower than the expected 720,000 - a significant slowdown from July’s revised 1.053m. The unemployment rate, however, dropped to 5.2% from July’s 5.4%, a new pandemic low. Will this change Fed’s outlook on stimulus tapering?

US Markets:

A far weaker Jobs data than anticipated, and a drop in unemployment rate rendered US markets mixed Friday. 

S&P 500 (-0.03%▼) dropped a little more than a point to close at 4535.43. Dow Jones (-0.21%▼) shed a little more than 72 points and closed the day at 35369.09, while Russel 2000 (-0.52%▼) lost about 12 points. 

Tech heavy Nasdaq (0.21%▲), was the only major index to eke out some gains and closed at 15363.52.   

Sectors at the S&P 500 were mixed as well, with five of the eleven sectors in red and the rest in green. 

The green sectors included, Consumer Discretionary (0.01%▲), Healthcare (0.11%▲), Technology (0.38%▲), , Materials (0.60%▲), Real Estate (0.04%▲), and Communication Services (0.11%▲).  

Financials (-0.58%▼), Energy (-0.52%▼), Industrials (-0.62%▼), Utilities (-0.80%▼), and Consumer Staples (-0.05%▼) were the losing sectors. 

Key Movers in Small Cap:

The Impel Neuropharma (IMPL, -19.33%▼) stock plummeted, soon after it soared around 22% Friday morning, following an FDA approval of the company’s first drug, a nasal spray named Trudhesa. The Relative Volume of the stock was 41.5.

Forte Biosciences(FBRX, -82.30%▼) Friday announced that it failed to meet the primary endpoint in a phase-2 study targeting atopic dermatitis. The Relative Volume of the stock was 16.9.

Joann Inc(JOAN, -19.44%▼) continued to tumble after reporting a 30% drop in sales compared to the last year. The Relative Volume of the stock was 11.2.

PagerDuty Inc (PD, 6.95%▲) continued its gaining momentum, after reporting a 33.2% y-o-y increase in revenue. The Relative Volume of the stock was 6.1.

Alexander & Baldwin (ALEX, 8.33%▲) has delivered a respectable 77% return to shareholders in one year, gaining 4.2% in the last week alone. The Relative Volume of the stock was 5.4.

The other movers in the small-cap segment included: 

Evelo Biosciences Inc (EVLO, -19.01%▼): Relative Volume 5.3.

Sunstone Hotel Investors (SHO, 1.64%▲): Relative Volume 5.2.

Yext Inc. (YEXT, -6.33%▼): Relative Volume 5.1.

Ooma Inc.  (OOMA, 14.65%▲):  Relative Volume 5.1.

Metromile Inc.  (MILE, 8.33%▲): Relative Volume 4.4.

Key Movers in Large Cap:

MongoDB Inc (MDB, 26.33%▲), the cloud-based database specialist, outperformed expectations on both top and bottom-line results in its Q2 earnings report. The relative volume of the stock was 11.2.

DocuSign Inc (DOCU, 5.26%▲) reported a sizable earnings beat, late Thursday evening. The relative volume of the stock was 5.2.

Guidewire Software Inc (GWRE, 3.86%▲) reported a 29% y-o-y increase in subscription revenue. The total revenue dropped 6% y-o-y but was above the expected levels. The relative volume of the stock was 4.5.

The other movers in the large-cap segment included: 

Medallia Inc (MDLA, -0.06%▼): Relative Volume 2.8.

Beyond Meat Inc. (BYND, -3.98%▼):  Relative Volume 2.7.

Nutanix Inc.  (NTNX, 7.03%▲): Relative Volume 2.5.

Science Applications.  (SAIC, 2.05%▲): Relative Volume 2.4.

Credit Acceptance Corp. (CACC, 1.56%▲): Relative Volume 2.3.

Report Card:

DocuSign Inc (DOCU, 5.26%▲), the cloud-based e-signature company, reported an EPS of $0.47 on revenue of $511.8m, comprehensively beating the estimated EPS of $0.40 on revenue of $487.5m. The stock climbed a little more after hours. 

MongoDB Inc (MDB, 26.33%▲) reported a 44% y-o-y growth in revenue to $198.7m, ahead of the estimated $184.2m. The adjusted operating loss of $11.5m was a little wider than last year’s $10.2m. The stock skidded a wee bit after hours.  

Joann Inc(JOAN, -19.44%▼) reported a net income of $5.2m or 12 cents per share, on revenue of $496.9m, compared to last year’s net income of $149.9m, or $4.29 a share, on revenue of $708m. The stock climbed a little more than half a percent after hours. 

PagerDuty Inc (PD, 6.95%▲) reported a 33% y-o-y growth in revenue to $67.5m, its strongest growth rate in 5 quarters and ahead of the estimated $65.6m. The adjusted operating loss, however, widened from $3.2m to $9.9m. The stock climbed more than a percent after hours. 

On the Lookout:

In wake of the Labor Day holiday - celebrated on the first Monday of September - the stock markets in the US remain closed. The economic calendar will draw a blank today.  

Unusually high shorter-term CALL options activity seen on Rover Group Inc (ROVR, 00.00%▲), Riot Blockchain. (RIOT, -4.25%▼), Moderna Inc. (MRNA, 4.79%▲), Lucid Group Inc (LCID, 4.82%▲), and Advanced Micro Devices (AMD, 0.66%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Tesla Inc (TSLA, 0.16%▲), Fisker Inc (FSR, -0.99%▼), Cassava Sciences Inc (SAVA, -7.64%▼), Philip Morris International (PM, 0.44%▲), and Virgin Galactic Holdings (SPCE,  -6.58%▼) among others.

Other Asset Classes:

Crude Oil Prices - The prices went down Monday morning soon after Saudi Arabia, the world’s top exporter, slashed crude oil prices for Asia - indicating that global supplies were well supplied. Brent traded a little over $72 per barrel mark, in the wee hours Monday. 

The US Dollar (92.25, 0.24%▲) bounced from last week’s steep sell-off to the sub-92 levels early Monday morning, as the markets remain closed for Labor Day.  

The US Treasury Yields remained buoyed after a poor August jobs report. Monday morning the 10 Year US Treasury Yield was trading at 1.326%, into the green zone. 

Global Markets:

The Asian Markets ended mostly higher Monday, following dismal August jobs report in the US raising expectations amongst the investors that Fed might revisit its stimulus tapering policy. Shanghai closed 1.12% higher, and Hang Seng rose more than 160 points. Tokyo’s Nikkei advanced in excess of 530 points or 1.83%. 

European markets cashed in on the wave in Asian stocks and opened considerably higher Monday morning. The speculation that stimulus might be furthered in China and Japan gave further impetus to the global markets. FTSE, gained 0.68% soon after the opening, while CAC was up 0.70%. DAX and Stoxx-600 gained 0.62% and 0.59%, in that order.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: Myovant Sciences Limited (MYOV), HUTCHMED China (HCM), Semtech Corporation (SMTC), Silk Road Medical Inc. (SILK), DigitalOcean Holdings (DOCN), Pure Storage Inc (PSTG), Semrush Holdings Inc (SEMR), Seer Inc (SEER), Cameco Corp. (CCJ), Golden Nugget Online Gaming (GNOG), and Kulicke and Soffa Industries (KLIC). Signup, we have a 30-day free trial.

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

If you enjoy reading our newsletter, do make sure to include researchfin@substack.com in your approved sender’s list and you'll never miss the newsletter.

See you tomorrow! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

]]><![CDATA[Data Crunching!]]>https://openingbell.researchfin.ai/p/data-crunchinghttps://openingbell.researchfin.ai/p/data-crunchingFri, 03 Sep 2021 12:27:59 GMTGood Morning!

Now that the bulk of the S&P 500 companies have reported results, how is it all summing up! The “blended” net profit margin for the second quarter for them is 13.1 per cent, according to FactSet data, the highest on records since 2008. A 90.8 per cent year-on-year EPS growth for the quarter, marking the strongest quarterly growth since the end of 2009. Over the same quarter, revenues are on track for the strongest growth since 2008 with a 25.2 per cent increase. 

Are margins still intact for Corporate America? Many companies have flagged margin pressures as supply chains reel under several issues - 35 per cent chance a vessel arrives on time, compared with 80 per cent this time last year, Air freight demand skyrocketing, larger terminals like Chicago reporting delays of up to two weeks for cargo collection and dire conditions on the trucking front severely exacerbated by Hurricane Ida.

Reviewing Thursday's economic data:

Improving Labour Market: For the week ending August 28, initial claims decreased by 14,000 to 340,000 , which is the lowest level since March 14, 2020. Continuing claims for the week ending August 21 decreased by 160,000 to 2.748 million, which is also the lowest level since March 14, 2020.

Narrowing Trade Deficit: The trade deficit for July narrowed to $70.1 billion from an upwardly revised $73.2 billion (prior -$75.7 billion) in June and slightly narrower than the average real trade deficit for Q2. That will compute as a positive input for Q3 GDP forecasts.

Slow pace of Order growth: Factory orders for manufactured goods increased 0.4% m/m in July, as expected, following a 1.5% increase in June. Shipments of manufactured goods were up 1.6% after increasing 1.9% in June. The slow pace of order growth in July owes to headwinds created by the Delta variant and supply chain bottlenecks.

Downward revision of Productivity: Q2 productivity was revised down to 2.1% from the advance estimate of 2.3% and unit labor costs were revised up to 1.3% from the advance estimate of 1.0%.

US Markets:

Thursday was more of a value-oriented session amid continued improvement in the weekly initial and continuing claims report. The S&P 500 (0.3%▲) and Nasdaq Composite (0.1%▲) eked out intraday and closing record highs, although they closed off session highs amid softness in the growth stocks. The Dow Jones Industrial Average increased 0.4% while the Russell 2000 increased 0.7%.

The shift into "value" was best manifested in the 0.6% gain in the Russell 1000 Value Index, while the Russell 1000 Growth Index closed flat. The S&P 500 Energy (2.5%▲) and Industrials (1.0%▲) sectors, two cyclical groups, were pockets of strength.

The S&P 500 information Technology (-0.1%▼), CommunicationServices (-0.7%▼), and Consumer Discretionary (-0.1%▼) sectors, which contain the mega-cap stocks, were the only sectors that closed lower.

Futures!

Futures looked set for a positive opening!

As of 07:00 ET, all the indices were green, without an exception: Dow Futures (0.18%▲),  Nasdaq Futures (0.12%▲), and S&P 500 Futures (0.18%▲).

Key Movers in Small Cap:

Cybersecurity provider SecureWorks Corp (SCWX, 14.51%▼) reported a second-quarter FY22 revenue decline of 3.1% year-on-year to $134.2 million, missing the analyst consensus of $134.97 million. The Relative Volume of the stock was 6.5.  

Asana (ASAN, 15.37▲) Q2 revenue of $89.5 million, up 72% year-on-year, beat the analyst consensus of $82.4 million and forecast higher sales. The Relative Volume of the stock was 6.

Texas Capital Bank (TCBI, 10.30%▼) drops as analysts’ downgrades amid ‘much higher’ expenses in the new strategy push. The Relative Volume of the stock was 4.9.

The other movers in the small-cap segment included:  

American Outdoor Brands Inc  (AOUT, 7.63%▼): Relative Volume 4.7.

Smith & Wesson Brands Inc (SWBI, 11.21%▼): Relative Volume 4.6.

Semtech Corporation (SMTC, 10.92%▲): Relative Volume 4.6.

Key Movers in Large Cap:

Hill-Rom Holdings Inc. (HRC, 4.65%▲), the medical equipment maker is all set to be acquired by Baxter International Inc. for $10.5 billion in cash a month after reports that its initial bid was rejected. The relative volume of the stock was 7.7.

Five Below Inc (FIVE, 13.01▼) is trading lower Thursday after the company announced mixed second-quarter financial results that showed earnings more than doubled but sales came in a little short of expectations. The relative volume of the stock was 7.4.

Ncino Inc (NCNO, 15.02%▲) traded sharply after second-quarter sales came in higher than expected. Second-quarter sales of $66.5 million, up 36% from a year ago and topping its previous outlook for revenue as high as $64 million. The relative volume of the stock was 5.8.

The other movers in the large-cap segment included:

Charge Point Holdings Inc (CHPT, 8.20%▲): Relative Volume 5.6.

Quanta Services Inc (PWR, 12.06%▲): Relative Volume 4.2.

Credit Acceptance Corp. (CACC, 11.76%▲): Relative Volume 3.9.

Report Card:

Hewlett Packard Enterprise Co (HPE, 0.33%▲) came out with quarterly earnings of $0.47 per share, beating the analysts’ estimate of $0.42 per share. This compares to earnings of $0.32 per share a year ago. HP posted revenues of $6.9bn for the quarter, compared to $6.82bn a year ago. 

G-III Apparel Group, Ltd. (GIII, 0.43%▲) total revenues for the three-month period ending July 31 were $483 million, up from $297 million a year ago. G-III logged $19.1 million in profits as a result, compared with losses of $14.9 million last year.

Cantaloupe Inc (CTLP, 0.59%▲) delivered record revenue in the fourth quarter of $49.0 million, an increase of 14.6% versus the third quarter of 2021, and an increase of 50.2% y-o-y.

Cinedigm Corp (CIDM, -3.85%▼) generated net income of $5.0 million, or $0.03 per share, versus a net loss of $19.9 million, or $(0.21) per share, in the prior-year quarter;

On the Lookout:

Investors will receive the Employment Situation Report for August, the ISM Non-Manufacturing Index, and the final IHS Markit Services PMI for August today. 

Unusually high shorter-term CALL options activity seen on Quantumscape Corp (QS, 1.17%▲), Albertsons Companies Inc (ACI, 9.61%▲), Chewy Inc (CHWY, 9.29%▼), Virgin Galactic Holdings Inc (SPCE, 2.95%▼), and Sonos Inc (SONO, 0.17%▲) among others.

On the other hand, unusually high shorter-term PUT options activity was seen on Western Digital Corp. (WDC, 0.98%▲), Apple Inc. (AAPL, 0.75%▲), Smartsheet Inc (SMAR, 0.36%▼), Oracle Corporation(ORCL, 0.17%▼), and Garmin Ltd. (GRMN, 0.10%▲) among others.

Other Asset Classes:

The Treasury market held steady ahead of the August employment report. The 2-yr yield was unchanged at 0.21%, and the 10-yr yield decreased one basis point to 1.29%.

The dollar index (92.23, -0.2%▼), which measures the US currency against six others, traded flat on Friday at around its weakest in a month. The euro was steady against the dollar, purchasing $1.1878. Sterling was also unchanged at $1.1383. Brent crude, the oil benchmark, fell 0.1 percent to $72.93.

Global Markets:

In Asia, Japan’s Nikkei 225 closed more than 2 per cent higher, after the nation’s prime minister Yoshihide Suga said he would step down and traders bet on his successor unleashing more economic stimulus. 

Hong Kong’s Hang Seng index dropped 0.8 per cent, dragged down by stocks in China’s technology sector, which has been the subject of an intense regulatory crackdown. Mainland China’s CSI 300 lost 0.6 per cent, with consumer, industrial and materials companies falling the most after the nation’s manufacturing industry slowed and the government implemented strong measures to control new outbreaks of coronavirus.

European stocks drifted Friday as investors held back from placing bets ahead of the US jobs data. The Stoxx Europe 600 index opened 0.2 per cent lower, remaining close to its all-time high following seven months of gains driven by a sharp rebound in corporate earnings from last year’s pandemic-induced downturn. FTSE 100 traded flat.

Meanwhile on Researchfin.ai

A few more trade setups, identified by our AI, have already hit their respective profit targets yesterday, within their optimal holding period: BJs Wholesale Club Holdings Inc (BJ), DexCom, Inc. (DXCM), Avantor Inc (AVTR), Axonics Inc (AXNX), Sun Communities (SUI), ICON plc (ICLR), Builders FirstSource Inc. (BLDR), Signet Jewelers Ltd. (SIG), Semtech Corporation (SMTC), Ambarella Inc (AMBA), and Zentalis Pharmaceuticals (ZNTL). Signup, we have a 30-day free trial.

There were many new trade setups, identified by the AI yesterday. Download our app Researchfin.ai for iOS and Android and never miss a trade setup! 

If you enjoy reading our newsletter, do make sure to include researchfin@substack.com in your approved sender’s list and you'll never miss the newsletter.

Wish you a fab weekend! 

Warm Regards 

Team Researchfin.ai

Disclaimer:Researchfin.ai Opening Bell newsletter reflects the opinions of only the authors who are associated persons of Researchfin.ai and do not reflect the views of Researchfin LLC or any of its subsidiaries. They are meant for informational purposes only and are not intended to serve as investment advice or investment recommendation to buy or sell any security. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Researchfin LLC or any of their subsidiaries. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.

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