$INTC

$INTC done its usual daily volume already

yep its true @bronco i think at some point short @nvda and/or @amd VERSUS long @intC will be a great trade but not yet. $INTC have dropped the ball but they still have great patents and a moat of sorts and are trading at 1/4 of the multiples of AMD and 1/8 the multiples of NVDA. Its not that big of a basket case

LARGEST OPEN INTEREST INCREASES AMONG SINGLE STOCK OPTIONS TODAY: TESLA $TSLA PAYPAL $PYPL SUNDIAL GROWERS $SNDL SNAP $SNAP INTEL $INTC

U.S. stock futures looking mixed on the final day of trading for the week, but a much better picture then what it looked like initially overnight following the first night of disappointing earnings overnight as shares of tech companies Intel (INTC) and Snap (SNAP) led the declines. Asia’s subdued risk sentiment gets a surprise boost following a report of Evergrande $83.5M interest payment on an overdue dollar bond. European stocks also rose on Friday after China Evergrande paid a bond coupon before this weekend’s deadline helping boost those markets and lift sentiment. The Nikkei Index rose nearly 100-points to 28,804, the Shanghai Index slipped -0.3% to 3,582, and the Hang Seng Index climbed 109 points to 26,126. In Europe, the German DAX is up over 100 points to 15,585, while the FTSE 100 gains 0.5% to 7,225. The Dow eased from a record high hit on Wednesday, while the Nasdaq paced market gains and the S&P 500 hit a fresh intraday record high thought breadth was somewhat mixed as six of the 11 major S&P 500 sectors finished lower, with energy stocks falling the most. While the majority of earnings thus far to start quarterly earnings (about 20% in for the S&P 500), the potential impact of supply chain disruptions and labor shortages on profits is starting to take center stage this earnings season. IBM tumbled 8.2% after it missed market estimates for quarterly revenue, while Tesla (TSLA helped lift the Nasdaq. The story of the day was Digital World Acquisition Corp (DWAC), the special purpose acquisition company (SPAC) that will merge with former President Trump’s social media company, shooting up 356% on Thursday, closing at $45.50 a share. Applications for U.S. state unemployment benefits unexpectedly declined to 290,000 last week to pre-pandemic levels, raising expectations the Fed may look to raise rates sooner in 2022 to cool inflation. The CBOE volatility index closed Thursday at 15.01, lowest close since Feb. 19, 2020. Market Closing Prices Yesterday · The S&P 500 Index gained 13.59 points, or 0.30%, to 4,549.78 · The Dow Jones Industrial Average slid -6.26 points, or 0.02%, to 35,603.08 · The Nasdaq Composite surged 94.02 points, or 0.62%, to 15,215.70 · The Russell 2000 Index advanced 6.42 points, or 0.28% to 2,296.18 Events Calendar for Today · 9:45 AM ET Markit Manufacturing PMI-Flash · 9:45 AM ET Markit Services PMI-Flash · 9:45 AM ET Markit Composite PMI-Flash · 1:00 PM EST Baker Hughes Weekly rig count data Earnings Calendar: · Earnings Before the Open: AIMC, AXP, CLFY, CLF, FHB, GNTX, HCA, HON, RF, ROP, SLB, SMPL, STX, VFC World News · The eurozone composite PMI dropped from 56.2 to 54.3 in October, posting its lowest reading in six months; Eurozone Oct Mfg PMI (flash) beat: 58.5 vs 57.0 consensus; EZ Oct Services PMI (flash) missed at 54.7 vs 55.5 consensus · UK Sep Retail Sales missed: -0.2% m/m vs 0.5% cons; -1.3% y/y vs -0.4% consensus; UK Sep Retail Sales ex-autos missed: -0.6% m/m vs 0.5% cons; -2.6% y/y vs -1.7% consensus · German Oct Manufacturing PMI (flash) beat: 58.2 vs 56.5 consensus; German Oct Services PMI (flash) missed: 52.4 vs 55.0 consensus · Bank of England chief economist Pill says that inflation could exceed 5% but likely to fall in 2H of next year, BoE would have a “live” decision on whether to raise interest rates at its November meeting. · GfK consumer confidence dropped 4 points to minus 17 in October as higher inflation and climbing Covid rates weighed on sentiment Sector News Breakdown Consumer · Chipotle Mexican Grill, Inc. ($CMG) Q3 EPS $7.02 vs. est. $6.32; Q3 revs rise 21.9% to $2.0B vs. est. $1.94B; qtrly comparable restaurant sales increased 15.1%; qtrly digital sales grew 8.6% year over year to $840.4M; Restaurant level operating margin was 23.5% 1, an increase of 400 bps · Boston Beer ($SAM) Q EPS ($4.76) vs est. $4.02 on revs $561.6Mm vs est. $531.5Mm; guides FY depletions and shipments +18-22%, sees national price increase 2-3%, gr margin 40-42%, advertising promo & selling exp increase $80-100Mm · BJ Restaurants ($BJRI) 3Q EPS ($0.09) vs est. $0.11 on revs $282.2Mm vs est. $292.8Mm, comps +41.8% (-0.5% vs 2019); saw rapid food cost inflation hit 3Q restaurant op margins; expects sales to benefit as staffing levels improve; · Mattel Inc. ($MAT) Q3 adj EPS $0.84 vs. est. $0.72; Q3 sales $1.76B vs. est. $1.68B; raises FY21 revenue growth view to up about 15% from 12%-14% and boosts FY21 adj EBITDA view to $900M-$925M from $875M-$900M; qtrly net sales in the N.A. segment increased 12% as reported and gross billings increased 12% as reported; worldwide gross billings for barbie of $555.2 mln, up 4% and for hot wheels of $329.9 mln, up 5% · PriceSmart ($PSMT) 4Q EPS $0.63 vs est. $0.74 on revs $909.6Mm vs est. $879.8Mm; comparable net merchandise sales +10.3% · Whirlpool ($WHR) 3Q adj EPS $6.68 vs est. $6.12 on net sales $5.5B vs est. $5.74B; guides FY net sales +13% vs est. +15.5%, sees FY adj EPS about $26.25 vs est. $26.35 · Robert Half ($RHI) 3Q EPS $1.53 vs est. $1.40 on revs $1.713B vs est. $1.637B; sees Q4 EPS $1.37-$1.47 vs. est. $1.30; sees Q4 revenue $1.655B-$1.735B vs. est. $1.65B · Walmart ($WMT) is offering bitcoin through 200 of its CoinStar kiosks in a tie-up with crypto atm firm CoinMe- CoinDesk reported last night Energy · DMC Global ($BOOM) shares fell -10%; 3Q EPS $0.02 vs est. $0.10 on sales $67.2Mm vs est. $71.5Mm; guides 4Q sales $46-50Mm below est. $73.6Mm · Altus Midstream Company ($ALTM) said it will combine with privately-owned BCP Raptor Holdco LP in an all-stock transaction. BCP is the parent company of EagleClaw Midstream, which includes EagleClaw Midstream Ventures, the Caprock Midstream and Pinnacle Midstream businesses, and a 26.7% interest in the Permian Highway Pipeline. · Southern Co.’s ($SO) Georgia Power adds another three months to the timetable for the Vogtle 3 and 4 nuclear expansion projects; company now projects a Unit 3 in-service date in Q3 2022 and a Unit 4 in-service date in Q2 2023 Financials · Associated Banc-Corp. ($ASB) Q3 EPS $0.56 vs est. $0.44, tangible book value per share $17.58, recovery of credit losses $24M vs est. recovery of $1.68M · Bank Ozk ($OZK) Q3 EPS $1.00 vs. est. $0.97; Q3 total interest income $262.7M versus 268.3M same quarter 2020 · Independent Bank ($INDB) Q3 EPS $1.21 vs. est. $1.02; Total assets of $14.5 billion at September 30, 2021 increased by $339.1 million, or 2.4%, from the prior quarter, and by $1.4 billion, or 10.3%, as compared to the year ago period · SVB Financial ($SIVB) Q3 EPS $6.24 vs. est. $5.04; qtrly net interest income (fully taxable equivalent basis) of $859 million · Western Alliance ($WAL) Q3 EPS $2.28 vs. est. $2.22; Q3 revs $548.5M vs. est. $535.86M; produced highest ever quarterly organic loan growth of $4.8 billion, with deposits also up $3.4 billion (32% annualized), driving a 14.3% increase in PPNR1 during the quarter to $317.1 million · WR Berkley ($WRB) 3Q EPS $1.40 vs est. $0.99 on revs $2.42B vs est. $2.3B; qtrly net premiums written +23.7% Healthcare · Accuray Inc. ($ARAY) preliminary Q1 revs $107.4M vs est. $88.5M, raised FY revenue view to $420M-$427M from $410M-$420M, above est. $415.8M · Metacrine ($MTCR) shares fall -50%; to halt future development of FXR program in NASH; reports interim results for met642 phase 2a trial in patients with NASH and announces a strategic re-prioritization of its clinical development programs; shares downgraded to Hold from Buy at Jefferies, Canaccord and HC Wainwright · Minerva Surgical ($UTRS) 6.25M share IPO priced at $12.00 · Xilio Therapeutics ($XLO) 7.35M share IPO priced at $16.00 · Iveric bio ($ISEE) 9M share Spot Secondary priced at $16.75 · Rite Aid ($RAD) has filed for a mixed securities shelf offering. Industrials & Materials · Honeywell ($HON) Q3 adj EPS $2.02 vs. est. $1.99; Q3 revs $8.47B vs. est. $8.65B; qtrly organic sales grew 8%, led by 38% growth in aerospace commercial aftermarket, 21% growth in safety and productivity solutions; 14% growth in advanced materials within performance materials and technologies; cuts FY21 revenue view to $34.2B-$34.6B from $34.6B-$35.2B (est. $35.1B) and narrows FY21 EPS view to $8.00-$8.10 from $7.95-$8.10 · Carlisle Companies ($CSL) 3Q adj EPS $2.99 vs est. $2.75 on revs $1.3B vs est. $1.27B · Celanese ($CE) Q3 adj EPS $4.82 vs. est. $4.75; Q3 revs $2.3B vs. est. $2.13B; raises full-year outlook; sees Q4 EPS about $4.00 vs. est. $3.97; reported record net sales of $2.3B for the quarter with sequential pricing and volume increases of 3% and 1%, respectively · Lynas Rare Earths ($LYSCF) said Q1 production and sales revenues fell QoQ, citing disruptions from a rise in COVID-19 cases in the area around its Malaysia processing plant; Q1 total rare earths production fell 16% Q/Q to 3,166 metric tons, Q1 revenues fell to A$121.6M from $A$185.9M · Olin Corp. ($OLN) Q3 EPS $2.38 vs. est. $2.02; Q3 revs $2.34B vs. est. $2.36B; qtrly adjusted Ebitda achieved despite production interruptions from hurricanes, raw material cost volatility, & supply-chain disruptions; for FY21, is targeting debt reduction of approximately $1.1 bln using cash generated from operations · U.S. Xpress Enterprises, Inc ($USX) 3Q adj EPS $0.07 vs est. $0.14 on revs $491.1Mm vs est. $479.6Mm · Vicor Corporation ($VICR) 3Q EPS $0.29 vs est. $0.44 on revs $84.9Mm vs est. $98.2Mm; gross margin 50.4% vs est. 52.5%; book/bill 2.0 with backlog $296Mm at qtr end Technology, Media & Telecom · Intel Corp. ($INTC) falls -7%; 3Q EPS $1.71 vs est. $1.11 on revs $19.2B vs est. $18.24B (CCG revs 9.7B -2%, DCG revs $6.5B +10%), gr margin 56% vs est. 54.9%; guides FY adj EPS $5.28 vs est. $4.79; sees 2021 cap-ex spending $18B-$19B; questions about falling gross margins dominated the c/c as the company said it expects to turn back to growth in a few years, and execs kept defending their forecast, comfortable with margins above 50% · Cambium Networks ($CMBM) lowers guidance; sees Q3 revs about $75M, down from prior view of $88-$92M which primarily reflects greater than anticipated global supply constraints impacting shipments of products which we expect to continue into the first half of calendar 2022; said Q3 net income is expected to be below the low-end of the previous GAAP and non-GAAP ranges · Snap Inc. ($SNAP) tumbles -20% overnight on lower guidance; Q3 adj EPS $0.17 vs est. $0.08 on revenue $1.07B vs est. $1.1B, DAUs 306M (+23% YoY); sees Q4 DAUs 316-318M, revenue $1.165B-$1.205B below est. $1.36B, saying it missed the lower end of guidance due to changes to advertising tracking on Apple’s iOS that did not scale as expected, making it more difficult for ad partners to measure and manage campaigns, and macroeconomic factors impacting advertising partners with global supply headwinds expected to impact ad demand Q4 in particular; (shares of FB, ROKU, ETSY, TWTR among names that fell in reaction to SNAP) · Western Digital’s ($WDC) discussions to merge with Japan’s Kioxia in a deal worth over $20B have stalled, the Wall Street Journal reported, citing people familiar with the matter. The companies were seeking to finalize a stock deal that would have established a memory-chip giant worth about $40B

Futures recovered much of the overnight losses, everything back in the green except techs which were hurt by $SNAP and $INTC results. Small caps with relative strength in the premarket. Will see how the open goes.

$INTC pooped its pants

IBM and now INTC murdered, the boomers gotta work another few years now

INTC wrecking NQ

Went with $INTC instead

got that straw in INTC milkshake

INTC red bar

$INTC earnings after the close

4.7 Mil $INTC DP @ 54.95

Thursday, October 21, 2021 Futures Up/Down % Last Dow -101.00 0.28% 35,376 S&P 500 -10.25 0.24% 4,517 Nasdaq -22.50 0.15% 15,355 U.S. futures are down slightly overnight, as the S&P 500 index comes into the day with a 6-day win streak, as the earnings barrage continues today, with shares of TSLA and IBM slipping after quarterly results last night while media giant AT&T (T) rises early following its results. For the moment, China Evergrande debt contagion fears, inflation, Fed tapering, rising commodity prices are having no effect on global stock markets with the CBOE Volatility index (VIX) settling around its lowest levels in about 2-months. As for yesterday, the Dow Jones Industrial Average touched an all-time fresh intraday high while the S&P 500 flirted with its all-time intraday record highs (rising a 6th straight day) after strong earnings results and forecasts from healthcare companies and as banks advanced amid rising Treasury yields. The 10-Year Treasury yield spiked to 1.6730% early, a fresh five-month high sending the S&P 500 Bank Index higher for a fifth-straight day, for its fourth-straight record close. Technology underperformed as the Nasdaq Composite closed slightly lower as inflation fears crept into the market late day following comments from Federal Reserve President Quarles. In Asian markets overnight, The Nikkei Index fell -546 points (1.87%) to settle at 28,708, the Shanghai Index inched higher 7-points to 3,594 and the Hang Seng Index declined -118 points to 26,017. In Europe, the German DAX is down just a few points holding above 15,500, while the FTSE 100 slips -0.3% to just under 7,200. Market Closing Prices Yesterday The S&P 500 Index gained 16.56 points, or 0.37%, to 4,536.19 The Dow Jones Industrial Average rose 152.03 points, or 0.43%, to 35,609.34 The Nasdaq Composite dropped -7.41 points, or 0.05%, to 15,121.68 The Russell 2000 Index advanced 13.85 points, or 0.61% to 2,289.77 Events Calendar for Today 8:30 AM ET Weekly Jobless Claims…est. 300K 8:30 AM EST Continuing Claims…est. 2.55M 8:30 AM ET Philly Fed Index for October…est. 25.0 10:00 AM ET Existing Home Sales MoM for September…est. 6.09M 10:00 AM ET Leading Index MoM for September…est. +0.4% 10:30 AM ET Weekly EIA Natural Gas Inventory Data Earnings Calendar: Earnings Before the Open: AAL, ALK, ALLY, AMTB, AN, BANC, BHLB, BKU, BX, CROX, DHX, DHR, DOW, EEFT, EWBC, FAF, FCX, GATX, GPC, GTLS, HOMB, HRI, IIIN, IPG, IQV, KEY, LNN, MMC, POOL, SASR, SCHN, T, TPH, TRN, TSCO, UNP, VLO, WBS Earnings After the Close: ASB, NJRI, BOOM, CE, CMG, CSL, CSTR, FFBC, GBCI, INTC, MAT, NUE, OZK, PBCT, PINE, PSMT, SAM, SNAP, SIVB, TRST, USX, VICR, WAL, WHR, WRB, WSFS Other Key Events: The European Society of Gene and Cell Therapy (ESGCT) Congress 2021 is taking place virtually this year from October 19-22 Macro Up/Down Last Nymex -0.53 82.89 Brent -0.95 84.87 Gold 1.90 1,788.70 EUR/USD -0.0012 1.1639 JPY/USD -0.27 113.99 10-Year Note +0.013 1.645% Sector News Breakdown Consumer Tesla Inc. ($TSLA) 3Q adj EPS $1.86 vs est. $1.59 on revs $13.76B vs est. $13.63B, auto gr margin 30.5% vs 27.7% year ago, says expect op margin will continue to grow; qtly bitcoin-related impairment of $51Mm; continue to target first model Y production builds in Berlin and Austin before end of year; says challenges including semi shortages, port congestion, rolling blackouts impacting ability to keep factories running full speed; Las Vegas ($LVS) Q3 revs $857M below the $1.34B estimate; on a GAAP basis, qtrly total net revenues for SCL increased to $611 mln, compared to $167 mln in q3 of 2020; Q3 adj EPS loss (-$0.45) vs. est. loss (-$0.20) Unilever ($UL) rises on higher-than-expected Q3 sales growth; reports higher-than-expected underlying sales growth for Q3 beating analysts’ expectations; reiterates full-year profit margin forecast, defying some analysts’ fears of a cut; warns inflation is likely to accelerate next year Portillo’s ($PTLO)27M share IPO priced at $20.00 Energy Kinder Morgan ($KMI) Q3 adj EPS $0.22 vs. est. $0.24; Q3 revs $3.82B vs. est. $3.26B; backs FY21 adjusted EBITDA view $7.9B, expects to generate net income attributable to KMI of $1.7 billion and declare dividends of $1.08 per share, a 3% increase TechnipFMC ($FTI) shares fall -6%; 3Q adj EPS ($0.06) vs est. $0.02 on revs $1.58B vs est. $1.7B, qtrly total inbound orders were $1.37B, qtr-end backlog $7.0B; guides FY subsea revs $5.2-5.5B, sees FY surface tech revs $1.05-1.25B, sees FY CAPEX approx $250Mm HighPeak Energy ($HPK)2M share Secondary priced at $10.00 Helix Energy ($HLX) narrows FY21 revenue view to $600M-$645M from $600M-$670M; narrows FY21 adjusted EBITDA view to $85M-$100M from $75M-$100M and boosts FY free cash flow view to $80M-$120M from $45M-$90M; lowers cap-ex view Valero (VLO) Q3 adj EPS $1.22 vs. est. $0.92; Q3 revs $29.52B vs. est. $23.97B Financials Discover Financial ($DFS) Q3 EPS $3.54 vs. est. $3.53; Q3 revs $2.78B vs. est. $2.91B; Total loans ended the quarter at $89.5 billion, up 1% year-over-year, and up 2% sequentially. Credit card loans ended the quarter at $70.3 billion, up 1% year-over-year. Personal loans decreased $321 million, or 4%, and private student loans increased $168 million, or 2%, year-over-year. Banner Corp. ($BANR) 3Q EPS $1.44 vs est. $1.15 on revs $155.5Mm vs est. $122.6Mm Cohen & Steers ($CNS) 3Q adj EPS $1.06 vs est. $0.97 on revs $154.2Mm vs est. $148.3Mm Equifax ($EFX) 3Q adj EPS $1.85 vs est. $1.72 on revs $1.2B vs est. $1.18B; guides 4Q revs $1.23-1.25B vs est. $1.2B and adj EPS $1.72-1.82 vs est. $1.80; sees FY revs $4.9-4.92B vs est. $4.83B and adj EPS $7.52-7.62 vs est. $7.47 First Industrial Realty ($FR) 3Q FFO/share $0.51 vs est. $0.49; raises FY FFO/share guide by $0.02 at midpoint to $1.95 vs est. $1.94 OneMain Holdings ($OMF) 3Q adj EPS $2.37 vs est. $2.30; C&I managed receivables $19.1B, C&I net charge-off ratio 3.52%, repurchased 2.4Mm shares for $141Mm in qtr; proposes minimum qtrly div/share of $0.70; Sterling Bancorp. ($STL) 3Q adj EPS $0.52 vs est. $0.51; NII $213.8Mm vs est. $219.3Mm; proposes 3Q dividend of $0.07 SL Green Realty ($SLG) Q3 FFO $1.78 vs. est. $1.58; Q3 revs $142.7M vs. est. $160.97M; revising its earnings guidance ranges; said same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, increased by 5.7% for Q3; narrows FY21 FFO view to $6.45-$6.65 from $6.30-$6.70 SLM Corp. ($SLM) 3Q core EPS $0.24 vs est. $0.20; private education loan originations +10% to $2.1B; declares 4Q dividend of $0.11/share vs $0.03/share in 3Q21; qtrly NII $358Mm vs est. $343.6Mm; qtrly education loan provisions for credit losses $138Mm; sees FY net charge-offs $195M to $205M, saw $215M to $225M Texas Capital ($TCBI) Q3 EPS $0.76 vs. est. $1.10; Q3 net interest income of $194.1M declines from $197.0M in Q2 and $207.6M YoY due to a decline in loan fees, partially offset by a decrease in average interest-bearing deposits; non-interest income also fell 30% from Q2 and 65% from Q3 2020, driven by Q2 sale of its mortgage servicing rights portfolio and other non-interest income. Triumph Bancorp ($TBK) Q3 EPS $0.94 vs est. $1.08; Q3 net charge-offs .08%; Q3 CET1 capital ratio 9.45%; Q3 tangible book value per share $19.73; net interest margin was 6.69%. Yield on loans and the average cost of our total deposits were 7.92% and 0.16%, respectively Umpqua Holdings Corporation ($UMPQ) Q3 EPS $0.49 vs. est. $0.44; Net income of $108.1 million, or $0.49 per common share; non-PPP loan balances increased $479.7 million or 2.3%; Deposit balances increased $754.8 million or 2.9%; provision for credit losses recapture of $18.9 million as modeled economic conditions improve Healthcare S. regulators on Wednesday signed off on extending COVID-19 boosters to Americans who got the Moderna (MRNA) or Johnson & Johnson ($JNJ) vaccine and said anyone eligible for an extra dose can get a brand different from the one they received initially. Tenet Healthcare ($THC) Q3 adj EPS $1.99 vs. est. $0.99; Q3 revs $4.89B vs. est. $4.81B; qtrly same-hospital net patient service revenue per adjusted admission up 6.2% versus q3 2020; sees 2021 adj EPS now $6.15-$6.38 (from prior $5.23-$5.73) and adj Ebitda $3.275B-$3.325B (from prior $3.15B-$3.25B) Regeneron ($REGN) and Sanofi ($SNY) said the FDA has approved Dupixent, or dupilumab, as an add-on maintenance treatment of patients aged 6 to 11 years with moderate-to-severe asthma characterized by an eosinophilic phenotype or with oral corticosteroid-dependent asthma Ventyx Biosciences ($VTYX)47M share IPO priced at $16.00 Investment adviser Darwin Global Management became the third shareholder of Acceleron Pharmaceuticals ($XLRN) to publicly oppose the company’s pending acquisition by Merck ($MRK). In a letter, Darwin said it believes Merck’s $11 billion offer price, or $180 per share, is too low. Acceleron is actually worth between $22 billion and $28 billion, according to the firm, or $353 to $451 per share Industrials & Materials CSX Corp. ($CSX) 3Q EPS $0.43 vs est. $0.39 on revs $3.29B vs est. $3.11B; 24% surge in revenue just outpaced a 23% increase in expenses. Activist investor Elliott Management Corp. has a big stake in Canadian National Railway Co. ($CNI), the WSJ reported citing people familiar with the matter said, adding to pressure on the railroad after its CEO resigned following a failed bid for rival Kansas City Southern. Covenant Logistics ($CVLG) 3Q adj EPS $1.02 vs est. $1.02 on revs $274.6Mm vs est. $259.9Mm Dow Inc. ($DOW) Q3 EPS $2.75 vs. est. $2.56; Q3 revs $14.84B vs. est. $14.25 Graco ($GGG) 3Q adj EPS $0.57 vs est. $0.63 on revs $486.7Mm vs est. $490.5Mm; says continue to target mid-high-teen organic sales growth on constant currency basis for FY21 vs est. +19% Kaiser Aluminum ($KALU) Q3 adj EPS $0.57 vs. est. $1.33; Q3 sales $751M misses the $773.2M est.; anticipates cost issues and supply chain disruptions will continue during quarter Landstar ($LSTR) Q3 EPS $2.58 vs. est. $2.49; Q3 revs $1.734B vs. est. $1.66B; Q3 truckload transportation revenue hauled via van equipment inQ3 was up 59% YoY to $918.1M; truckload transportation revenue hauled via unsided/platform equipment in Q3 was up 44% to $423.0M; sees Q4 EPS $2.55-$2.65 vs. est. $2.43 PPG Industries ($PPG) 3Q adj EPS $1.69 vs est. $1.58 on sales about $4.4B vs est. $4.24B; guides FY adj EPS $6.67-6.73 vs est. $7.03; says plan to execute share repurchases in 4Q and continue to evaluate potential bolt-on acquisitions; say increased supply disruptions negatively impacted sales and manufacturing costs Rush Enterprises ($RUSHA) Q3 EPS $1.20 vs. est. $0.96; Q3 revs $1.27B below est. $1.34B; said supply chain issues continue to impact new truck and aftermarket sales Valmont Industries ($VMI) 3Q adj EPS $2.57 vs est. $2.47 on revs $868.8Mm vs est. $862.3Mm; guides FY adj EPS $10.60-11.10 vs est. $10.78; sees FY22 sales +7-12% vs est. +6.2%, sees EPS +13-15% vs est. +13.5%

keeping that on watch for next week > @dros said: 1569 $INTC APR2022 $57.5 Cs trade 3.2

1569 $INTC APR2022 $57.5 Cs trade 3.2

1569 $INTC APR2022 $57.5 Cs trade 3.2

1560 $INTC Apr22 14th 57.5 Calls trade $3.20 (CboeTheo=3.17) ASKSIDE BOX IV=28.2% +0.9 FLOOR - OPENING Vol=3605, OI=329,

Wednesday, October 20, 2021 Futures Up/Down % Last Dow -6.00 0.02% 35,317 S&P 500 -0.25 0.02% 4,510 Nasdaq 3.50 0.02% 15,401 U.S. equity futures are mostly flat across the board ahead of another busy morning of quarterly earnings, with the recent 5-day winning streak bringing the S&P 500 to within 1% of its September all-time highs with solid corporate earnings offsetting persistent inflation concerns and a jump in Treasury bond yields. The yield on the benchmark 10-year Treasury is at morning lows around 1.63% but falling from overnight highs of 1.67%. Surging energy prices, supply chain disruptions and labor shortages are adding cost and margin pressures to a host of companies this earnings season. In earnings overnight, Netflix (NFLX) is little changed after a quarterly beat while airline UAL rises on a narrower loss. U.S. stocks climbed on Tuesday as large cap companies continued to report strong third-quarter earnings. The S&P 500 index posted its 5th straight day of gains, led by healthcare and technology stocks as the NYFANG posted a record-high close. That said, with 10 of 11 major S&P 500 sectors higher on the day, value actually slightly outperformed growth. The Dow rose 0.57%, the S&P 500 was up 0.74% and the Nasdaq moved up 0.71%. In Asian markets, The Nikkei Index rose 40 points to 29,255, the Shanghai Index slipped a few points to 3,587, and the Hang Seng Index jumped 348 points to 26,136. In Europe, the German DAX is up about 20 points to 15,540, while the FTSE 100 is little changed at 7,220. Market Closing Prices Yesterday The S&P 500 Index gained 33.17 points, or 0.74%, to 4,519.63 The Dow Jones Industrial Average rose 198.70 points, or 0.56%, to 35,457.31 The Nasdaq Composite jumped 107.28 points, or 0.71%, to 15,129.09 The Russell 2000 Index advanced 8.07 points, or 0.36% to 2,275.91 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 10:30 AM ET Weekly DOE Inventory Data Earnings Calendar: Earnings Before the Open: ABT, ANTM, BIIB, BKR, BOKF, CFG, CMA, FCFS, FHN, KNX, LAD, MKTX, MSM, MTB, NDAQ, NEE, NEP, NTRS, TZOO, UNF, VZ, WGO, WSO Earnings After the Close: BANR, CCI, CNS, CSX, CVLG, DFS, EFX, FR, GGG, GL, GSBC, HCCI, HLX, IBM, KALU, KMI, LRCX, LSTR, LVS, MMLP, NVEC, PMF, PFBC, PPG, REXR, RLI, RUSHA, SEIC, SLG, SLM, STL, TBK, TCBI, THC, TSLA, UFPI, UMPQ, VMI, XM Other Key Events: Samsung announces Unpacked 2 event for Wednesday Oct 20th, right after Apple and Google Needham Dispensary Bus Tour: AYRWF, CURLF, GTBIF, VRNOF, in Las Vegas, 10/20 The European Society of Gene and Cell Therapy (ESGCT) Congress 2021 is taking place virtually this year from October 19-22 Needham Virtual Global Access Inaugural Needham Biotech Private Company Virtual 1×1 Forum, 10/19-10/20 Macro Up/Down Last Nymex -0.92 82.04 Brent -0.94 84.14 Gold 8.50 1,780.90 EUR/USD -0.0004 1.1628 JPY/USD 0.09 114.46 10-Year Note +0.006 1.64% World News College enrollments plunged in 2020 to the lowest level since 2007. According to new data released by the U.S. Census Bureau on Tuesday, enrollment in schools dropped by 2.9 million from 2019 to 2020 and colleges by 615,000. Sector News Breakdown Consumer Ford ($F) upgraded to Outperform from Neutral at Credit Suisse and up tgt to $20 from $15 saying has seen a “significant turnaround” at Ford as the company has ended its cycle of quarterly earnings disappointments and its transition to electric vehicles has sharply accelerated Vinco Ventures ($BBIG) slides after the company reported the resignations of Chief Executive Officer Christopher Ferguson and Chief Financial Officer Brett Vroman Uber Technologies ($UBER) files prospectus supplement related to offering of 16.5M shares of common stock by selling stockholders United Airlines ($UAL) 3Q ADJ eps (1.02) vs est. ($1.67) on revs $7.8B vs est. $7.85B, says on track to meet 2022 targets, poised to capitalize on international reopening, says on track to reduce CASM-EX next year below 2019 levels, expects 4Q CASM-EX +12-14% vs 4q19, sees 4Q capacity to be -23% vs 4Q19; says remains on track to achieve long-term financial targets Stride ($LRN) Q1 EPS loss (-0.15) vs. est. loss (-$0.14); Q1 revs $400.2M vs. est. $359.48M; Q1 adj EBITDA $25.5M vs. $39.2M last year; Q1 total enrollment 189.6K, down 5.8% yoy; sees Q2 revs $390M-$400M vs. est. $365M WD-40 ($WDFC) 4Q EPS $0.61 on sales $115.2Mm vs est. $117.5Mm; guides FY EPS $5.24-5.38 below est. $5.76, sees FY sales $522-542Mm vs est. $517.4Mm Energy, Industrials and Materials The American Petroleum Institute (API) shows a build of 3.29M barrels of oil for the week ending October 15, gasoline inventories show a draw of 3.5M barrels, distillate inventories show a draw of 3M barrels and Cushing inventories show a draw of 2.5M barrels. Canadian National ($CNI) Q3 adj EPS C$1.52 as revs rose 5% to C$3.6B; reaffirms 2021 outlook; says on track to achieve strategic plan 2022 targets with operating performance improvements and cost initiatives well underway; qtrly operating ratio of 62.7%, up 2.8 points; said CEO to retire Marten Transport ($MRTN) Q3 EPS $0.26 vs. est. $0.25; Q3 revs $251.3M vs. est. $237.37M Vale ($VALE) said Q3 iron ore production increased 18.1% Q/Q and 0.8% Y/Y to 89.4 M mt, while output of iron ore pellets, a premium product, rose 4.1% Q/Q while falling 2.6% Y/Y to 8.3M mt Financials Citizens Financial ($CFG) Q3 EPS $1.22 vs. est. $1.16; Q3 revs $1.66B vs. est. $1.64B; provision for credit losses a benefit of $33 mln Hancock Whitney (HWC) 3Q EPS $1.46 vs est. $1.29, NII $237.5Mm vs est. $235.7Mm; qtrly pre-provision net revs $134.8Mm Interactive Brokers ($IBKR) Q3 EPS $0.78 vs. est. $0.75; Q3 revs $650M vs. est. $640.87M; Q3 customer accounts increased 57% from the year-ago quarter to 1.54M as customer equity grew 52% YoY to $353.8B; total DARTs increased 24% YoY to 2.26M and cleared DARTs increased 24% from the year-ago quarter to 2.02M United Community Bank ($UCBI) Q3 EPS $0.82 vs. est. $0.66; return on assets (ROA) was 1.48% and its return on common equity was 14.3% for the quarter; quarter benefited from an allowance release of $11.0 million, reflecting continued improvement in economic conditions and forecasts; Total loans decreased by $200 million during the quarter Wintrust Financial ($WTFC) Q3 EPS $1.77 vs. est. $1.52; Total deposits increased by $1.1 billion, including a $459 million increase in non-interest-bearing deposits; net interest income increased by $7.9 million as compared to Q2 Stronghold Digital Mining ($SDIG)69M share IPO priced at $19.00 Healthcare Novavax ($NVAX) slides around -20% on reports the company is facing production delays as the methods it used to test the purity of its COVID-19 vaccine have fallen short of U.S. regulators’ standards, Politico reported on Tuesday. NVAX, in a filing in Aug, said that U.S. govt has asked co to prioritize alignment with FDA on its analytic methods before manufacturing more doses https://politi.co/3FWQAOW Anthem ($ANTM) Q3 adj EPS $6.79 vs. est. $6.37; Q3 revs $35.5B vs. est. $35.3B; raises FY21 adj EPS view to greater than $25.85 vs. est. $25.65 (prior view was greater than $25.50); for FY21, says operating cash flow is now expected to be greater than $6B; Medical enrollment totaled approximately 45.1M members at September 30, 2021, an increase of 2.4M or 5.7% YoY ATI Physical Therapy ($ATIP) cuts FY21 revenue view to $620M-$630M from $640M-$670M (est. $652.72M) and cuts FY21 adjusted EBITDA view to $40M-$44M from $60M-$70M due to lower-than-expected patient volume Akero (AKRO) receives FDA fast track designation for Efruxifermin for the treatment of NASH Context Therapeutics (CNTX) 5M share IPO priced at $5.00 Technology, Media & Telecom Netflix ($NFLX) 3Q EPS $3.19 vs est. $2.56 on revs $7.5Mm vs est. $7.48Mm, net adds 4.38Mm vs est. 4Mm; sees 4Q net adds 8.5Mm vs est. 8.3Mm, sees 4Q revs $7.71Mm vs est. $7.68Mm, sees 4Q op margin about 6.5%; guides FF positive on annual basis in 2022 and beyond; said it believes no longer needs to raise external financing to fund day-to-day ops Omnicom ($OMC) Q3 EPS $1.65 vs. est. $1.37; Q3 revs $3.435B vs. est. $3.44B; Q3 operating margin increased to 15.8% compared to 15.6% same period last year; qtrly increase in revenue from organic growth of 11.5%; says global economic conditions may continue to be volatile as long as covid-19 remains, which could negatively impact clients’ spending plans ASML Holding NV ($ASML) reported a Q3 profit rise of 64%, beating analysts’ consensus, and said that demand continues to be high; net profit for the quarter ended Oct. 3 rose to 1.74 billion euros ($2.02 billion) compared consensus of EUR1.63 billion; net sales for the quarter were EUR5.24 billion compared with guidance of between EUR5.2 billion and EUR5.4 billion Samsung ($SSNLF) and Intel ($INTC) are both seeking to win orders for Apple’s ($AAPL) in-house developed Mac processors, but industry sources believe TSMC (TSM) will remain the sole supplier for the next-generation Mac series – Digitimes Facebook ($FB) is set to announce a rebranding that could see the creation of a newly-named parent company — in the sprit of Alphabet and Google — that sits atop its network of social media and communications apps. – The Verge reports

Speaking of INTC

402 $INTC JAN2024 $65 Cs trade 5.4

402 $INTC JAN2024 $65 Cs trade 5.4

508 $INTC 22OCT2021 $60 Cs trade 0.5

508 $INTC 22OCT2021 $60 Cs trade 0.5

INTC -2 mil @ 55.12

2400 $INTC Mar22 45.0 Puts trade $1.45 (CboeTheo=1.44) ASKSIDE AMEX IV=33.3% -0.0 CROSS - OPENING Vol=2406, OI=1620,

1956 $INTC MAR2022 $60 Cs trade 1.86

1956 $INTC MAR2022 $60 Cs trade 1.86

$JNPR collaborating with $INTC

Monday, August 23, 2021 Futures Up/Down % Last Dow 157.00 0.45% 35,215 S&P 500 15.25 0.34% 4,452 Nasdaq 40.50 0.27% 15,127 Stock futures are looking higher, trying to rebound after last week’s modest losses, boosted by hopes that the U.S. FDA is aiming to give full approval to Pfizer’s ($PFE) COVID-19 vaccine today (as per a NYTimes article Friday) and as investors looked to the Jackson Hole symposium later in the week for hints on future Federal Reserve policy. Oil prices rebound, rising around 3%, looking to snap its 7-day losing streak as prices fell over 9% last week. In Asian markets, The Nikkei Index jumped 480 points (1.78%) to 27,494, the Shanghai Index gains 49 points (or 1.45%) to 3,477 and the Hang Seng Index rises 259 points to 25,109. In Europe, the German DAX is higher by 40-points to 15,850, while the FTSE 100 gains 30 points to 7,120. Stocks slumped last week as the S&P 500 drops 0.59%, Dow down 1.12%, Nasdaq loses 0.73%, but YTD performance remains impressive with the S&P +18.25%, the Dow +14.74%, the Nasdaq +14.17% and the Russell 2000 +13.14% (gold -5.91%, Bitcoin +57.52% and oil +30.87%). The S&P and Dow were weighed down by steep losses among shares of economically-sensitive companies like banks, materials companies and energy producers this week as the Fed signaled that it will scale back some of its easy money policies. Other factors playing a role in volatility last week included an uptick in Covid-19 infections and a slowdown in China’s growth that could impede the economic recovery. Bitcoin prices topped $50K over the weekend, the first time since mid-May (15th) in a continuation of last week’s advance Market Closing Prices Yesterday The S&P 500 Index gained 35.87 points, or 0.81%, to 4,441.67 The Dow Jones Industrial Average rose 225.98 points, or 0.65%, to 35,120.08 The Nasdaq Composite surged 172.86 points, or 1.19%, to 14,714.66 The Russell 2000 Index advanced 35.18 points, or 1.65% to 2,167.60 Events Calendar for Today 9:45 AM ET Markit Manufacturing PMI-F…est. 62.5 9:45 AM ET Market Composite Flash-PMI…est.58.3 9:45 AM ET Markit Services PMI-Flash…est.59.5 10:00 AM ET Existing Home Sales MoM for Aug…est. 5.83M Earnings Calendar: Earnings Before the Open: $JD, $MSGE Earnings After the Close: $FLXS, $MARK, $PANW Other Key Events: American Association of Neurological Surgeons, 8/21-8/25, in Orlando, FL UBS China Telco, Media, Internet Virtual Conference 2021, 8/23-8/27 Truist Texas Bank Virtual Summit, 8/23-8/24 Macro Up/Down Last Nymex 1.90 64.04 Brent 2.06 67.24 Gold 7.40 1,788.50 EUR/USD 0.0019 1.1717 JPY/USD 0.29 110.07 10-Year Note +0.018 1.278% World News France Aug Mfg PMI: 57.3 in line; Services 65.4 vs 57.0 consensus Germany Aug Mfg PMI: 62.7 vs 65.0 consensus; Services 61.5 vs 61.0 consensus Eurozone Aug Mfg PMI: 61.5 vs 62.0 consensus; Services 59.7 vs 59.8 consensus UK Aug Mfg PMI: 60.1 vs 59.5 consensus; Services 55.5 vs 59.0 consensus Sector News Breakdown Consumer General Motors Co ($GM) to take a $1B charge to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack; this comes on top of $800M in costs from previous Bolt recalls – Reuters Uber ($UBER), Lyft ($LYFT) and DoorDash ($DASH) fall after a California state judge strikes down a ballot measure that declared drivers for the companies were independent contractors Energy, Industrials and Materials The U.S. Defense Department ordered U.S. airlines to provide 18 planes to transport evacuees, saying the extra capacity will help military aircraft focus on operations in and out of Kabul Stem ($STEM) a positive mention in Barron’s saying the company that installs batteries for utilities and sells software to manage them, is an attractive renewable energy bet. Business inquiries have picked up since the company received a $475 million cash injection through a SPAC merger in April, the CEO said. Revenue is expected to more than double in 2022 Maxar Technologies ($MAXR) won a 5-year, $60M contract from the U.S. National Geospatial-Intelligence Agency (NGA) to continue development and operations of a classified big data analytics program SPI Energy ($SPI) said its wholly owned Phoenix Motorcars subsidiary expands R&D and production capabilities; Phoenix Motorcars signed a long-term lease agreement for the facility located in Anaheim, California Ardmore Shipping ($ASC) files to sell $50M of common stock Financials Jefferies ($JEF) mentioned positively in Barron’s calling it a “rising star” on Wall Street and it will benefit from European banks’ pullback from the U.S. capital markets. CEO Rich Handler told Barron’s the investment bank is “long-term oriented” in its approach and is in no hurry to sell its merchant-banking business. PayPal ($PYPL) will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week – Reuters Healthcare The FDA is targeting full approval of Pfizer ($PFE)-BioNTech’s ($BNTX) two-dose Covid-19 vaccine on Monday, August 23, further expediting an earlier timeline for licensing the shot, The New York Times reported Axsome Therapeutics Inc ($AXSM) rises over 30%; said the FDA was unable to complete its review of the company’s drug to treat major depressive disorder by the target action date of Aug. 22; said the FDA did not request additional information, adding that the review of the application was ongoing. Orphazyme ($ORPH) rises more than 20% after the Danish biotech company posted results from the trial of its key drug candidate for a genetic disorder Niemann-Pick disease type C, two months after it was rejected in the U.S. Technology, Media & Telecom com ($JD) Q2 Non-GAAP EPS of $0.45 beats by $0.11; GAAP EPS of $0.08 misses by $0.13; Q2 revs $39.3B beats by $1.12B; annual active customer accounts increased by 27.4% Y/Y to 531.9 million in the twelve months ended June 30, 2021. Intel ($INTC) wins us government project to develop leading-edge foundry ecosystem; Intel Foundry Services will lead the first phase of the U.S. department of defense’s ramp-c program to establish a domestic commercial foundry infrastructure. Nokia ($NOK) announced that it has been selected by A1 Telekom Austria Group (A1) to extend its 5G footprint outside of Austria into Bulgaria, Serbia, and Slovenia. Barron’s said investors should have more confidence in Spotify ($SPOT), noting while its audience growth is losing steam, Spotify is poised to post a profit in 2022, making it a promising bet as a market- leading subscription service in a growing sector Nexstar Media Inc., a wholly-owned subsidiary of Nexstar Media Group, Inc. ($NXST), announced on Friday it acquired The Hill for $130 million (plus working capital adjustments), in a transaction that is expected to be immediately accretive to Nexstar’s operating results. The Hill is the nation’s leading, independent, political digital media platform.

RECAP 8/13 Chatter: $FDX + Raising Peak Prices Frazer-Nash - $KBR $COIN + $INTC $800k stake $SONO + $GOOGL Lawsuit $HOOD $VIRT + Dems Shelf Payment for order flow $SESN - CRL

1015 $INTC DEC2021 $55 Cs trade 2.38

1015 $INTC DEC2021 $55 Cs trade 2.38

**PivotBoss Pre-Market Video [August 04, 2021]: Narrow Ranges Still Developing** AUGUST 04, 2021 — WEDNESDAY AM OUTLOOK RECORDING: In this edition of the Monthly Outlook, we discuss August seasonality, and the narrow ranges that have developed in the ES, YM, and NQ. We also discuss various industry groups, including Crypto, EV Vehicles, Gaming, and more! We also provide several actionable trading ideas, including in $BLNK, $TSLA, $INTC, and others. Here's the recording link: The ES, NQ, and YM continue to develop their respective narrow ranges, which are now developing 10-day ranges. Eventually, we'll see expansion from these ranges, which could trigger 1-2 weeks of volatility ahead. Any pullback could offer a buying opportunity for new highs ahead. Continue to watch for further development until clear expansion occurs. Crude Oil remains weak, but also remains within it's newly-minted key range, while Gold remains on a path higher, but needs above 1840.

**PivotBoss Monthly Outlook [August 03, 2021]: Talking Seasonality, Crypto, and Industry Groups** AUGUST 03, 2021 — TUESDAY PM In this edition of the Monthly Outlook, we discuss August seasonality, and the narrow ranges that have developed in the ES, YM, and NQ. We also discuss various industry groups, including Crypto, EV Vehicles, Gaming, and more! We also provide several actionable trading ideas, including in $BLNK, $TSLA, $INTC, and others.

SWEEP DETECTED: >>1571 $INTC Nov21 52.5 Calls trade $3.25 (FT Theo=3.30) ASKSIDE [MULTI] IV=29.6% +0.3 OPENING Vol=1578, OI=105

Technology, Media & Telecom Chinese internet companies extend losses premarket as Beijing steps up its tech crackdown with shares of Alibaba ($BABA), Baidu ($BIDU), JD.com ($JD), Pinduoduo ($PDD) NetEase ($NTES) plunging again along with ride-hailing firm Didi ($DIDI) and EV makers Li Auto Inc ($LI) and Nio Inc ($NIO) as Chinese regulators have vowed to strengthen the oversight of its big tech firms Xerox ($XRX) Q2 adj EPS 47c vs. est. 38c; Q2 revs $1.79B vs. est. $1.77B; says have a strong balance sheet and sufficient liquidity, including approximately $2.1 billion of cash and cash equivalents Intel ($INTC) unveiled a new process and packaging technology roadmap. “Building on Intel’s unquestioned leadership in advanced packaging, we are accelerating our innovation roadmap to ensure we are on a clear path to process performance leadership by 2025,” Intel CEO Pat Gelsinger said Amkor Technology ($AMKR) 2Q EPS $0.51 on sales $1.41B vs. est. $0.47 and $1.35B; guides 3Q net sales $1.65-1.75B Cadence Design Systems ($CDNS) Q2 adj EPS $0.86 vs. est. $0.76; Q2 revs $728M vs. est. $721.16M; sees Q3 adj EPS $0.74-$0.76 vs. est. $0.74; Q3 revs $730M-$750M vs. est. $722.56M; raises FY21 adjusted EPS view to $3.14-$3.20 from $2.99-$3.07 and ups FY21 revenue view to $2.925B-$2.965B from $2.88B-$2.93B F5 Networks ($FFIV) 3Q adj EPS $2.76 vs est. $2.46 on revs $652Mm vs est. $638.1Mm; guides 4Q adj EPS $2.68-2.80 vs est. $2.71, sees 4Q revs $660-680Mm vs est. $662.1Mm Calix Inc. ($CALX) Q2 EPS non-GAAP 38c vs. est. 27c; Q2 revs $168.7M vs. est. $161.52M; sees Q3 non-GAAP EPS 26c-30c vs. est. 24c; sees Q3 revenue $164M-$170M vs. est. $156.38M Celestica ($CLS) Q2 adj EPS $0.30 vs. est. $0.24; Q2 revs $1.42B vs. est. $1.38B; sees Q3 adj EPS $0.30-$0.36 vs. est. $0.28; sees Q3 revs $1.4B-$1.55B vs. est. $1.44B

1000 $INTC DEC2021 $55 Cs trade 3.35

1000 $INTC DEC2021 $55 Cs trade 3.35

**Friday's NASDAQ 100 Heatmap** NASDAQ Heat Map from Friday. Strength: $MSFT $GOOGL $FB $AAPL Weakness: $JD $INTC $TSLA

$INTC didnt get the memo

Friday, July 23, 2021 Futures Up/Down % Last Dow 169.00 0.49% 34,878 S&P 500 21.25 0.49% 4,381 Nasdaq 71.50 0.48% 15,000 Stocks looking to build on weekly gains, boosted overnight from strong results in the social media sector as both Twitter ($TWTR) and Snap ($SNAP) top expectations in what has been a generally strong week for quarterly earnings. After yesterday’s semiconductor weakness behind TXN guidance, Dow component Intel ($INTC) issues a beat and raise for the year last night, though conservative guidance for Q3 weighs on shares early. Major indexes rose for a third straight session on Thursday as investors looked past mixed weaker data showing a rise in first-time claims for unemployment benefits last week. In Asian markets, The Nikkei Index rose 159 points to 27,548, the Shanghai Index fell -24 points to 3,550, and the Hang Seng Index drops over 400 points (1.45%) to settle at 27,321. In Europe, the German DAX is up over 150 points (about 1%) to 15,665, while the FTSE 100 gains over 50 to 7,025. While enthusiastic about the economic recovery, investors remained nervous about the spread of the delta variant of COVID-19 which had weighed on sentiment last week. Markets also prepare for the busiest week of quarterly earnings coming up with results from Apple, Alphabet, and Facebook among them,. Market Closing Prices Yesterday The S&P 500 Index gained 8.79 points, or 0.20%, to 4,367.48 The Dow Jones Industrial Average rose 25.35 points, or 0.07%, to 34,823.35 The Nasdaq Composite gained 52.64 points, or 0.36%, to 14,684.60 The Russell 2000 Index declined -34.57 points, or 1.55% to 2,199.48 Events Calendar for Today 9:45 AM ET Markit Composite Flash PMI 9:45 AM ET Markit Manufacturing PMI for July 9:45 AM ET Markit Services Flash PMI 1:00 PM EST Baker Hughes Weekly rig count data Earnings Calendar: Earnings Before the Open: $ACBI, $AIMC, $AXP, $CIVB, $FHN, $GNTX, $HON, $KMB, $NEE, $NEP, $RF, $ROP, $SBSI, $SLB, $SXT Macro Up/Down Last Nymex -0.09 71.82 Brent -0.11 73.68 Gold -7.45 1,799.50 EUR/USD -0.0008 1.1763 JPY/USD 0.31 110.45 10-Year Note +0.026 1.293% World News Eurozone July Markit Mfg. PMI (flash) beat: 62.6 vs 62.5 consensus Eurozone July Markit Services PMI (flash) beat: 60.4 vs 59.5 consensus UK June Retail Sales Inc Auto Fuel YoY, actual 9.7%, est. 9.5%, prior 24.6% UK June Retail Sales Inc Auto Fuel MoM, actual 0.5%, est. -0.1%, prior -1.4%, revised -1.3% German July Markit/BME Germany Composite P, actual 62.5, est. 60.7, prior 60.1 German July Markit Germany Services PMI, actual 62.2, est. 59.5, prior 57.5 UK Markit/CIPS UK Services PMI, actual 57.8, est. 62.0, prior 62.4 UK July Markit UK PMI Manufacturing SA, actual 60.4, est. 62.3, prior 63.9 Sector News Breakdown Consumer Magna International Inc. ($MGA) to acquire Veoneer, Inc. ($VNE) for $ 31.25 per share in cash, representing a total value of $ 3.8 billion, and an enterprise value of $ 3.3 billion, inclusive of Veoneer’s cash, net of debt and other debt-like items as of March 31, 2021 Chinese education names getting crushed down over 40%: New oriental (EDU), TAL Education (TAL), and Gaotu Techedu ($GOTU) getting crushed on Bloomberg report that China is considering asking companies that offering tutoring on the school curriculum to go non-profit, according to people familiar with the matter. In rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said Boston Beer ($SAM) shares fall -15%; Q2 EPS $4.75 vs. est. $6.69; Q2 revs $602.8M vs. est. $657.6M; sees year EPS $18.00-$22.00 vs. est. $24.66; in 2021 and going forward, company has chosen not to report covid-19 related direct costs separately Del Taco ($TACO) Q2 adj EPS $0.16 vs. est. $0.11; Q2 revs $125M vs. est. $122.79M; Q2 system-wide comp store sales up 17.8%; Q2 company-operated comp sales up 18.3% and Q2 franchise comp sales up 17.2%; expects system-wide new unit growth to achieve 5% in 2023 led by franchising Skecher’s ($SKX) 2Q EPS $0.88 vs est. $0.52 on revs $1.66B vs es.t $1.49B; guides 3Q EPS $0.70-0.75 vs est. $0.63, sees 3Q revs $1.6-1.65B vs est. $1.52B; guides FY EPS $2.55-2.65 vs est. $2.13, sees FY revs $6.15-6.25B vs est. $5.93B Lamb Weston Holdings ($LW) announces $415 million capital investment in new French fry processing line in American falls, Idaho; declares quarterly dividend Robert Half ($RHI) 2Q EPS $1.33 vs est. $1.05 on revs $1.58B vs est. $1.48B Scholastic ($SCHL) 4Q adj EPS $0.90 on revs $401.4Mm; expects significant growth in FY22 revs yr/yr com ($GAMB) 5.25M share IPO priced at $8.00 Xponential Fitness ($XPOF) 10M share IPO priced at $12.00 Energy DMC Global (BOOM) 2Q EPS $0.10 vs est. $0.13 on sales $65.4Mm vs est. $69.5Mm; guides 3Q sales $46-48Mm vs est. $73.3Mm First Energy (FE) 2Q adj EPS $0.59 vs est. $0.57 on revs $2.6B vs est. $2.65B; guides 3Q adj EPS $0.70-0.80 vs est. $0.82; guides FY adj EPS $2.40-2.60 vs est. $2.50 Financials Capital One ($COF) Q2 adj EPS $7.71 vs. est. $4.61; Q2 revs $7.4B vs. est. $7.09B; NII $5.74B vs est. $5.58B, NIM 5.89% -10bps sequentially, common equity tier 1 capital ratio 14.5%, provision decreased $337Mm to ($1.2B) vs 1Q Bank OZK ($OZK) Q2 EPS $1.16 vs. est. $0.92; return on average assets 2.24% vs. 0.78% y/y; return on average equity 13.7% vs. 4.92% y/y; net interest income $240.7 million, +11% y/y; efficiency ratio 38.4% vs. 42.1% y/y Independent Bank ($INDB) Q2 EPS $1.17 vs. est. $1.08; Q2 revs $118.32M vs. est. $117.92M; total assets of $14.2B at June 30 increased by $420.3M, or 3.1%, from the prior quarter, and by $1.2B, or 9.0%, as compared to the year ago period; Q2 total loans at June 30 decreased by $307.7M, or 3.3%, when compared to the prior quarter RenaissanceRe ($RNR) 2Q adj EPS $5.64 vs est. $4.74 on revs $1.48B vs est. $1.28B, says net claims and claim expenses incurred associated with the covid pandemic were not significant in 2Q SVB Financial ($SIVB) Q2 GAAP EPS of $9.09 vs. est. $6.50; Q2 revs up 69% YoY to $1.49B (+69.0% Y/Y) beats by $350M; Q2 average loans of $49.8 billion, an increase of $3.5 billion; period-end loans of $50.8 billion, an increase of $3.1 billion; average total client funds increased $45.9 billion to $308.1 billion, which includes an increase in average on-balance sheet deposits of $23.2 billion R. Berkley ($WRB) Q2 EPS $1.27 vs. est. $0.94; Q2 revenue $2.30B vs. est. $2.16B; Q2 net premiums written $2.21B vs. $1.74M last year and consolidated combined ratio of 89.7% vs. 98.7% last year Future FinTech ($FTFT) files $200M mixed securities shelf S. Century Bank ($USCB) 4M share IPO priced at $10.00 Healthcare Caribou Biosciences (CRBU) 19M share IPO priced at $16.00 Cytek Biosciences (CTKB)7M share IPO priced at $17.00 Sophia Genetics (SOPH) 13M share IPO priced at $18.00 Industrials & Materials Honeywell ($HON) Q2 EPS $2.02 vs. est. $1.94; Q2 revs $8.81B vs. est. $8.63B; raises FY21 adj EPS view to $7.95-$8.10 from $7.75-$8.00 (est. $8.01) and boosts FY21 revenue view to $34.6B-$35.2B from $34B-$34.8B (est. $34.93B) Carlisle Corp. ($CSL) Q2 adj EPS $2.16 vs. est. $2.12; Q2 revs $1.2B vs. est. $1.15B; now sees full year sales to be up mid-teens Celanese ($CE) 2Q EPS $4.81 vs est. $4.44 on revs $2.2B vs est. $1.96B; guides 3Q adj EPS $4.50-4.75 vs est. $3.39; guides FY adj EPS $16.50-17.00 vs est. $13.98 S. Xpress Enterprises ($USX) Q2 adj EPS $0.08 vs. est. $0.16; Q2 revs $475M vs. est. $463.69M; continues to expect strong freight demand for balance of 2021; says expects total fleet size to begin growing in q3 Vicor ($VICR) reports Q2 EPS 43c vs. est. 33c; Q2 revs $95.4M vs. est. $93.98M Technology, Media & Telecom Intel Corp. ($INTC) 2Q adj EPS $1.28 vs est. $1.05 on revs $18.5B vs est. $17.8B; guides 3Q adj revs $18.2B vs est. $18.1B and adj EPS about $1.10 vs est. $1.08; guides FY adj revs $73.5B vs est. $72.8B, sees FY adj EPS $4.80 vs est. $4.62, sees FY adj gr mgn about 56.5% Twitter ($TWTR) Q2 EPS $0.20 vs. est. $0.07; Q2 revs $1.19B vs. est. $1.07B; Q2 Advertising revenue totaled $1.05 billion, an increase of 87% yoy, or 85% on a constant currency basis; Q2 cost per engagement (CPE) increased 42% yoy; reached 206 million average monetizable DUA in 2q, up 11%; Q2 international revenue $537m; had 11% year-over-year growth in monetizable daily active usage Snap inc. ($SNAP) 2Q adj EPS $0.10 vs est. ($0.01) on revs $982Mm vs est. $845.5Mm, DAU +23% to 293Mm; guides 3Q revs $1.07-1.085B vs est. $1.0B, sees 3Q adj EBITDA $100-120Mm vs est. $116.7Mm, says currently estimate DAU grow about 21% yr/yr to reach about 301Mm in 3Q, continues to invest heavily in video advertising, says the expected iOS platform policy changes did not materialize in 2Q to disrupt ad demand Verisign ($VRSN) Q2 EPS $1.31 vs. est. $1.32; Q2 revs $329M vs. est. $327.95M; ended 2q with cash, cash equivalents and marketable securities of $1.12B; ended Q2 with 170.6 million .com and .net domain name registrations in the domain name base, a 5.2% increase from the end of the second quarter of 2020, and a net increase of 2.59 million during the second quarter of 2021 Clearfield ($CLFD) 3Q EPS $0.44 on sales $38.7Mm; guides FY sales $150-160Mm above est. $122.9Mm Outbrain ($OB) 8M share IPO priced at $20.00

INTC positive earnings so far

took a small position in those INTC aug $56

1000 $INTC AUG2021 $56 Cs trade 2.01

1000 $INTC AUG2021 $56 Cs trade 2.01

Thursday, July 22, 2021 Futures Up/Down % Last Dow 83.00 0.24% 34,772 S&P 500 8.25 0.20% 4,359 Nasdaq 20.50 0.14% 14,848 Stock futures pointing higher, looking to make it a third straight day in a row of gains as optimism about earnings and the economic recovery outweighed Wall Street’s concerns about rising inflation and surging coronavirus cases. The yield on the benchmark 10-year Treasury rose early Thursday to 1.287% after touching lows below 1.13% earlier this week. President Joe Biden, at a town hall in Cincinnati hosted by CNN, said Wednesday night “there will be near-term inflation” as the economy recovers but said he has been advised by his economic team that current price increases won’t last as demand returns to normal levels. Stocks advanced Wednesday as strong corporate earnings and renewed optimism about the U.S. economic recovery stoked investor risk appetite. All three major U.S. stock indexes appeared set to build on the previous session’s gains, which delivered the S&P 500’s best day since March, while the Russell 2000 SmallCap outperformed for a second day after trading in correction territory on Monday (defined as 10% down off record highs). With Wednesday’s advance, all three are within 1% of their all-time closing highs. Economically sensitive SmallCaps, semiconductors and financials outperformed the broader market as investors prep for another busy day of earnings. In Asian markets, The Nikkei Index rose 159 points to 27,548, the Shanghai Index gained 12 points to 3,574 and the Hang Seng Index jumped nearly 500 points (1.83%) to settle at 27,723. In Europe, the German DAX is jumps 125 points to 15,550, while the FTSE 100 rises about 15 points to move above the 7,000 level. Market Closing Prices Yesterday The S&P 500 Index gained 35.63 points, or 0.82%, to 4,358.69 The Dow Jones Industrial Average rose 286.01 points, or 0.83%, to 34,798.00 The Nasdaq Composite jumped 133.08 points, or 0.92%, to 14,631.95 The Russell 2000 Index advanced 39.74 points, or 1.81% to 2,234.04 Events Calendar for Today 8:30 AM ET Weekly Jobless Claims 8:30 AM EST Continuing Claims 10:00 AM ET Existing Home Sales MoM for June 10:00 AM ET Leading Index MoM for June 10:30 AM ET Weekly EIA Natural Gas Inventory Data 11:00 AM ET Kansas City Fed Manufacturing for July Earnings Calendar: Earnings Before the Open: $AAL, $ABT, $AEP, $ALK, $AUB, $BANC, $BCO, $BIIB, $BKU, $BX, $CADE, $CLF, $CROX, $CSBR, $DGX, $DHI, $DHR, $DOW, $EWBC, $FAF, $FCX, $FITB, $GPC, $GTLS, $HRI, $HZO, $IIIN, $LUV, $MMC, $NEM, $NUE, $POOL, $RS, $SAFE, $SON, $T, $TPH, $TRN, $UNP, $VLY, $WBS, $WSO Earnings After the Close: $ABCB, $ASB, $BOOM, CBSH, $CE, $COF, $CSL, $CSTR, $GGBC, $INTC, $MMLP, $MSBI, $OZK, $RBNC, $SAM, $SBCF, $SIVB, $SNA, $SNAP, $TACO, $TWTR, $USX, $VRSN, $WRB, $WSFS Macro Up/Down Last Nymex 0.63 70.93 Brent 0.62 72.85 Gold -7.50 1,796.10 EUR/USD -0.0007 1.1787 JPY/USD -0.01 110.28 10-Year Note +0.013 1.295% World News The U.S. Treasury Department is projected to exhaust its borrowing authority in October or November, the Congressional Budget Office said on Wednesday, as a fight between Democrats and Republicans over raising the nation’s debt ceiling erupted in Congress. A failure to work out differences over whether government spending cuts should accompany an increase in the statutory debt limit, currently set at $28.5 trillion, could lead to a federal government shutdown – as has happened three times in the past decade – or even a debt default. Sector News Breakdown Consumer Las Vegas Sands ($LVS) 2Q EPS loss ($0.25) vs est. ($0.17), adj property EBITDA $244Mm, revs $1.17B vs est. $1.41B, net revs from Macao $855Mm Whirlpool ($WHR) Q2 adj EPS $6.64 vs. est. $5.93; Q2 revs $5.32B vs. est. $5.05B; raises FY21 adjusted EPS view to $26.00 from $22.50-$23.50 (est. $23.73); boosts FY21 net sales growth to ~16% from ~13%; sees FY21 cash provided by operating activities of $1.95B Stanley Black & Decker ($SWK) raises quarterly dividend 13% to 79c from 70c per share R. Horton ($DHI) Q3 EPS $3.06 vs. est. $2.81; Q3 revs $7.3B vs. est. $7.19B; Q3 net sales decreased 17% to 17,952 homes and increased 2% in value to $6.4 billion compared to 21,519 homes and $6.3 billion in the same quarter of the prior year; sees FY21 consolidated revenue $27.6B-$28.1B vs. est. $27.4B China is weighing an unprecedented penalty for Didi Global (DIDI) following its IPO last month, people familiar with the matter tell Bloomberg Energy Kinder Morgan ($KMI) Q2 adj EPS $0.23 vs. est. $0.19; Q2 revs $3.15B vs. est. $2.88B; expects to meet or exceed the top end of the range provided last quarter for DCF and Adjusted EBITDA; anticipates generating 2021 DCF of $5.4 billion and Adjusted EBITDA of $7.9 billion. TechnipFMC ($FTI) Q2 adj EPS ($0.06) vs est. ($0.01) on revs $1.669B vs est. $1.6B, qtr-end backlog $7.3B, qtrly inbound orders $1.56B; guides FY subsea revs $5.2-5.5B, guides surface tech revs $1.05-1.25B vs total revs est. $6.452 Precision Drilling (PDS) Q2 EPS loss (C$5.71) vs. (C$3.56) a year ago; Q2 revs C$201M vs. C$189.76M a year ago Chart Industries ($GTLS) Q2 adj EPS 80c vs. est. 79c; Q2 revs $322.0M vs. est. $317.45M; raises FY21 adjusted EPS view to $3.80-$4.25 from $3.65-$4.15 (est. $3.91); raises FY21 revenue guidance to $1.38B-$1.43B from $1.36B-$1.41B Financials Cohen & Steers ($CNS) Q2 adj EPS 94c vs. est. 86c; Q2 revs $144.27M vs. est. $131.17M; ending AUM of $96.2B, vs. $87.04B at previous quarter end – increase was driven by net inflows of $2.6B and market appreciation of $7.4B, partially offset by distributions of $769M Discover Financial ($DFS) 2Q EPS $5.55 vs est. $3.97, qtrly payment services volume $78.4B +22%, total loans ended qtr at $87.7B -1%, credit card loans ended qtr at $68.9B -2%, total net charge-off rt 2.12%; increases qtrly common stock dividend from $0.44-0.50/shr, approves share repurchase up to $2.4B Equifax ($EFX) 2Q adj EPS $1.98 vs est. $1.71 on revs $1.235B vs est. $1.16B; guides 3Q adj EPS $1.62-1.72 vs est. $1.65, raises FY adj EPS guide to $7.25-7.45 vs est. $7.05, sees FY revs $4.76-4.8B vs est. $4.675B Globe Life ($GL) 2Q EPS $1.92 vs est. $1.82; guides FY EPS $7.34-7.54 vs est. $7.29; says for FY at mid-point of guidance, estimate covid life claims between $53-55Mm Moelis ($MC) Q2 adj EPS $1.19 vs. est. $0.80; Q2 revs $360.9M vs. est. $273.8M; raises quarterly dividend by 9% to $0.60 and approves $100M share buyback OneMain Financial ($OMF) 2Q adj EPS $2.66 vs est. $2.19, NII $708Mm vs est. $769.1Mm; C&I managed receivables $18.3B, net charge-off ratio 4.41%, repurchased $35Mm in 2Q SEI Investments ($SEIC) 2Q EPS $0.93 vs est. $0.92 on revs $475.7Mm vs est. $464.7Mm SL Green Realty ($SLG) 2Q FFO/shr $1.60 vs est. $1.62, qtrly consolidated revs $218.1Mm vs est. $189.6Mm, op income $88.7Mm; same-store cash NOI including share of same-store NOI from unconsolidated JVs -3.7% yr/yr SLM Corp. ($SLM) Q2 core EPS $0.45 vs. est. $0.35; raises FY21 GAAP EPS view to $3.15-$3.25 from $2.95-$3.15; affirms FY21 private education loan origination y/y growth view of 6%-7% and lowers portfolio net charge-off view to $215M-$225M from $260M-$280M Texas Capital ($TCBI) 2Q EPS $1.31 vs est. $1.21; net interest income was $197.0 mln for q2 of 2021, compared to $200.1 mln for q1 of 2021 Triumph Bancorp. ($TBK) 2Q adj EPS $1.17 vs est. $1.02, NII $90.3Mm vs est. $89.2Mm, net int margin 6.47% Umpqua Holdings ($UMPQ) Q2 EPS $0.53 vs. est. $0.44; Q2 loan loss provision ($23M) vs. $87.08M a year ago; Q2 net charge-offs ($13.6M) vs. ($16.16M) a year ago; tangible book value per share was $12.49 at quarter end from $12.10 at previous quarter end; board approves to repurchase up to $400M of stock Ryan Specialty Group ($RYAN) 57M share IPO priced at $23.50 Travelers ($TRV) downgraded to Underperform from Buy at Bank America Healthcare Pfizer Inc. ($PFE) said the FDA has notified the company that it will not meet the Prescription Drug User Fee Act (PDUFA) goal dates for the New Drug Application for abrocitinib for the treatment of adults and adolescents with moderate to severe atopic dermatitis and the supplemental New Drug Application for XELJANZ/XELJANZ XR (tofacitinib) for the treatment of adults with active ankylosing spondylitis ICON Plc ($ICLR) Q2 adj EPS $2.12 vs. est. $2.09; Q2 revs $871.2M vs. est. $855.9M; sees FY21 EPS $9.10-$9.50 vs. est. $8.71; Record net business wins in the quarter of $1,106 million, an increase of 21.6% year on year; a net book to bill of 1.27; record closing backlog of $10.2 billion, an increase of 12.7% year on year Tenet Healthcare ($THC) Q2 EPS $1.59 vs. est. $1.07; Q2 revs $4.95B vs. est. $4.79B; Q2 Same-facility system-wide ambulatory surgical cases were up 68.2% from last year; year adj EBITDA Outlook range now $3.15B-$3.25B, up from prior view of $3.0B-$3.2B, which excludes the projected gain on the sale of the Miami-area hospitals; year adjusted diluted EPS $5.23-$5.73 up from $4.12-$5.46 prior – shares fell as Q3 guidance falls below consensus Absci ($ABSI)5M share IPO priced at $16.00 Natera ($NTRA)5M share Secondary priced at $113.00 Danaher ($DHR) Q2 adj EPS $2.46 vs. est. $2.05; Q2 revs $7.22B vs. est. $6.72B; for q3 2021, anticipates that non-GAAP core revenue growth will be in mid- to high-teens percent range; for full year 2021, now anticipates that non-GAAP core revenue growth rate including Cytiva will be about 20% Industrials & Materials CSX Corp. ($CSX) Q2 EPS $0.52 vs. est. $0.37; Q2 revs $2.99B vs. est. $2.93B; Q2 2021 operating ratio was 43.4% compared to 63.3% in prior year period; maintains full year revenue outlook and still sees year cap-ex $1.7B-$1.8B; Q2 expenses fall by 9% year-over-year to $1.30B Graco ($GGG) Q2 EPS $0.63 vs. est. $0.60; Q2 revs $507.2M vs. est. $475.94M; says initiating an outlook for full-year 2021 of mid-to-high teen sales growth on an organic, constant currency basis Dow Inc. ($DOW) Q2 EPS $2.72 vs. est. $2.30; Q2 revs $13.89B vs. est. $13.02B; qtrly packaging & specialty plastics segment net sales were $7.1 bln, up 78% versus year-ago period; industrial intermediates & infrastructure segment net sales were $4.2 bln, up 74% versus year-ago period; qtrly performance materials & coatings segment net sales were $2.5 bln, up 33% over year-ago BHP ($BHP) announced the signing of a nickel supply agreement with Tesla ($TSLA). Kaiser Aluminum ($KALU) Q2 adj EPS $1.00 vs. est. $1.44; Q2 revs $741M vs. est. $519.18M; qtrly shipments 337 mln lbs vs 119 mln lbs; said automotive business is temporarily dampened as ongoing shortages of semiconductor chips affects N. American light vehicle production Landstar ($LSTR) Q2 EPS $2.40 vs. est. $2.32; Q2 revs $1.57B vs. est. $1.46B; actual revenue per load on loads hauled via truck in 2021 q2 compared to 2021 q1 increased 7.5%; sees Q3 EPS $2.20-$2.30 and revs $1.55B-$1.6B UFP Industries ($UFPI) 2Q EPS $2.78 vs est. $1.81 on sales $2.7B vs est. $2.26B, expects all segments to benefit from more stable pricing in 2022 Valmont Industries ($VMI) Q2 adj EPS $3.06 vs. est. $2.50; Q2 revs $894.6M vs. est. $814.85M; sees FY21 adj EPS $10.40-$11.10 above consensus $9.89 and raises FY21 revenue growth view to 16%-19% from 9%-14%; expect meaningful sequential margin improvement in second half of 2021 as pricing becomes more aligned with steel cost inflation XL Fleet Corp ($XL) announced a battery and power electronics development and supply agreement and an investment in eNow, Inc., a provider of solar and battery power systems that enable fully-electric Transport Refrigeration Units for Class 8 commercial trailers

RECAP 7/20 Chatter: $RKT + Search in all states $GM $F + Chip supply relief $ANAB + Explores Sale $OMC - Loses NFL Ads $GPS + Instagram purchases $GT - RV Tire Deaths $INTC + Mobileye NYC AV tests $TDOC - $FB Telehealth $DBRG - Tom Barrack arrested

@bronco $INTC good call

$INTC wants to buy a fab company $TSM stated shortage is starting to ease $F took delivery on tens of thousands of backordered chips