$RNG

On watch $AMZN, $RNG, $ATVI, $GOOG, $TER

3/17 Upgrades: $AAL $AIT $CB $COLB $DUK $FIS $GDS $GOOGL $LPSN $NVDA $SBT $SYF $WBD 3/17 Downgrades: $BFH $KLR $DOCN $NVCR EBS $VEEV $FRC $XM $TEX $MGNX $RNG $HNST $SYF $REE

TIGER GLOBAL BOOSTS $DDOG, $WDAY, $GOOGL, $UBER, $SQ IN 3Q: 13F ADDS $HUBS, $PGY, $APP, $TSM, $PYPL REDUCES $CRWD, $NU, $JD, $S, $META, $RNG EXITS $PCOR, $XPEV, $ONEM, $MNDY, $IOT, $GTLB

$RNG - Bullish option flow detected in Ringcentral (33.11 -2.15) with 1,926 calls trading (4x expected) and implied vol increasing over 3 points to 91.20%. . The Put/Call Ratio is 0.22. Earnings are expected on 11/08

RECAP 8/9 Unusual Calls: $TLRY Aug 4.5 C $DDD Nov 15 C $BB Aug 7.5 C $WOW Sep 20 C $RNG Dec 60 C $XOP Aug12 137 C $SBEV Sep 4 C

Top Earnings Tu 8/2 Aft: $PEAK $PFSI $PMT $POWL $PRTS $PRU $PSTL $PTRA $PUMP $PXD $PYPL $QUAD $RCKY $RIGL $RNG $SBUX $SCI $SEDG $SKY $SLRC $SOFI $SPNE $SPT $SRPT $STE $TCS $TEX $THG $TRUE $TSLX $TSP $TX $UNM $VCYT $VMD $VOYA $VRAY $VREX $VRSK $VTSI $WCN $WEYS $WSR $WTTR (3/3)

RECAP 7/22 Unusual Puts: $GOOG Aug 110 P $BAC Jan 23 P $AXL Jan 5 P $VERU Aug 15 P $RVLV Aug 25 P $SNAP Jan-24 5 P $TSLA Jun-23 600 P $SNOW Sep 130 P $JWN Aug 23 P $BBY Aug26 70 P $INTC Jul29 37 P $TPG Aug 25 P $COOP Aug 36 P $RNG Jan-24 25 P $OXY Jul29 50 P $BALY Aug 17.5 P

$RNG that bell

Upside momentum continues with S&P futures edging higher, looking to make it a 9th straight day of gains overall, and the Nasdaq Composite looking at an 11th straight day of advances, with no signs of caution by investors heading into key inflation data today and tomorrow. The producer price index (PPI) for October is expected at 8:30 AM, and the consumer price index (CPI) tomorrow, but still no concerns exhibited in the bond market with the 10-year yield at its lowest level in 2-weeks around 1.45%, while gold prices are steady at $1,829 an ounce. The S&P 500 closed at an all-time high for the eighth consecutive session last night, extending the longest winning streak since 1997, as investors added the impact of $1 trillion in fresh government stimulus. That coupled with removed travel lockdowns, a strong earnings season, and positive vaccine news has boosted stocks over the last month. In Asian markets, The Nikkei Index fell -0.75% to 29.285, the Shanghai Index gained 0.24% to settle at 3,507 and the Hang Seng Index rose 0.2% to 24,813. In Europe, the German DAX is up 45 points to 16,090, while the FTSE 100 rise 0.2% to 7,313. Stocks keep pushing higher, making new all time highs each day the past week for the Dow, Nasdaq, S&P 500 and Russell 2000. Events Calendar for Today 6:00 AM ET NFIB Small Business Optimism Index for Oct 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Producer Price Index MoM for October…est. 0.6% 8:30 AM ET Producer Price Index YoY for Oct…est. 8.7% 8:30 AM ET PPI Ex: Food & Energy MoM for October…est. 0.5% 8:30 AM ET PPI Ex Food & Energy YoY for October…est. 6.8% 8:55 AM ET Johnson/Redbook Weekly Sales 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AFI, AGEN, APRN, BSY, CAH, CCO, CEVA, CNCE, CORR, CSII, CTG, DRNA, EBIX, ECOM, FSS, HAE, HAIN, HCI, HGV, HRMY, IGT, IIVI, ITCI, KPLT, MIDD, MRNS, MRSN, MSGE, OCGN, OSG, OWL, PLTR, PRPL, PRTY, SEAS, SSTI, STWD, SYY, TGI, VCEL, WHF, WKHS, WNC, WRK, XPEL Earnings After the Close: ACHV, AIRG, ALTO, ARLO, ASH, AVID, AXON, CALA, CCXI, CLPT, CNNE, COIN, CPRX, CPSI, CRIS, DAR, DASH,DNUT, DOCS, DSP, DV, EGAN, ELY, EPAY, EPM, EVBG, FC, FGEN, FLGT, FUBO, G, GO, HCKT, HYLN, ID, INO, KODK, LAW, LGND, LPRO, MCFE, MNKD, MODN, NVTS, OCX, ORGO, PAR, PAY, PAYS, PLUG, POSH, PUBM, PXLW, REI, RNG, RPAY, SAIL, SCSC, SEER, SGMS, SILK, SKIN, TMDX, TWNK, TWOU, U, UPST, VERI, VRM, VZIO, WES, WYNN Other Key Events: Baird 51st Annual Global Industrial Conference, 11/9-11/12 (virtual) Bank America 2021 Banking & Financials Conference, 11/9-11/10 (virtual) Cowen 7th Annual Software Bus Tour, 11/9/110 (virtual) Credit Suisse 30th Annual Healthcare Conference, 11/8-11/11 (virtual) JPMorgan Global Consumer, Retail & Luxury Conference, 11/8-11/11 (virtual) EEI Financial Conference, 11/7-11/9 (virtual) REITWorld 2021 Annual Conference, 11/9-11/12 (virtual) China PPI, CPI and M2 Money Supply for October Sector News Breakdown Consumer AMC Entertainment ($AMC) Q3 EPS ($0.44) vs est. ($0.53) on revenue $763.2M vs est. $708.3M; currently has liquidity availability over $1.8B, does not anticipate the need to borrow under revolver lines over the next 12 months CarLotz ($LOTZ) 3Q EPS ($0.03) vs est. ($0.21) on revs $68Mm vs est. $55.2Mm, will continue to open new hubs in 2022, though fewer than in 2021; says expects sequential qtrly improvement in retail units sold and retail GPU in 4Q Clarus Corp ($CLAR) 3Q adj EPS $0.50 vs est. $0.48 on sales $109Mm vs est. $106.1Mm; guides FY sales $362.5Mm vs est. $359.7Mm Freshpet ($FRPT) shares fell -14%; Q3 EPS (5c) vs est. 7c profit on revenue $107.6M vs est. $115.5M; now sees FY sales approx. $445M from prior guidance of sales exceeding $445M, adj EBITDA approx. $50M from prior view above $61M Hertz ($HTZZ)5M share Secondary priced at $29.00 R. Horton ($DHI) Q4 EPS $3.70 vs. est. $3.40; Q4 revs $8.1B vs. est. $7.94B; consolidated pre-tax profit margin improved 480 basis points to 21.3% and consolidated pre-tax income increased 63% to $1.7B; Q4 net sales orders down 33% to 15,949 homes; sees FY22 revenue $32.5B-$33.5B above consensus $32.22B International Flavors & Fragrances Inc. ($IFF) Q3 EPS $1.47 vs. est. $1.16; Q3 revs $3.07B vs. est. $2.61B; sees FY21 revs $11.55B vs. est. $10B; sees FY21 adjusted operating EBITDA margin 21% Inter Parfums ($IPAR) Q3 EPS $1.20 vs. est. $0.68; Q3 revs $263M vs. est. $262.69M; said our largest brands, notably Montblanc, Jimmy Choo, Coach, GUESS and Lanvin performed exceptionally well in the Q3 turning in gains of 26%, 40%, 98%, 27%, and 37%, respectively, as compared to 2019’s third quarter Jack Henry Associates ($JKHY) 1Q EPS $1.38 vs est. $1.32 on revs $488.1Mm vs est. $489.4Mm; guides FY adj revs $1.87-1.875B vs est. $1.91B, sees FY EPS $4.64-4.73 vs est. $4.59 Masonite ($DOOR) 3Q adj EPS $1.99 vs est. $1.87 on revs $652Mm vs est. $675Mm; guides FY adj EPS $7.95-8.25 vs est. $8.13, sees FY sales +15-17% vs est. +18.6% RealReal ($REAL) Q3 adj EPS ($0.47) vs est. ($0.50) on revenue $119M vs est. $113.3M, adj EBITDA ($31.5M) vs est. ($36M), gross profit per order $94 vs $90 YoY, GMV $368M was +50% vs 2020 and +46% vs 2019, orders 757k (+38% YoY) ThredUp ($TDUP) 3Q EPS ($0.15) vs est. ($0.16) on revs $63.3Mm vs est. $61.8Mm, qtrly active buyers 1.4Mm and orders 1.3Mm (+14% and 28%, respectively); guides 4Q revs $69-71Mm vs est. $62.8Mm Trex Company ($TREX) Q3 EPS $0.64 vs. est. $0.58; Q3 revs $336M vs. est. $325.6M; guides Q4 revs $295M-$305M vs. est. $276.3M; Net income grew 73% to $74M; diluted earnings per share of $0.64, up 73%; EBITDA grew 76% to $108M; EBITDA margin of 32.2% Energy, Industrials and Materials General Electric ($GE) to split into three public companies – GE Aviation, GE Healthcare, and the combined GE Renewable Energy, GE Power, and GE Digital businesses to become three industry-leading, global, investment-grade public companies Advanced Energy Industries, Inc. ($AEIS) Q3 adj EPS $0.89 vs. est. $0.82; Q3 revs $346.1M vs. est. $341.52M; sees Q4 adj EPS 92c plus/minus 25c vs. est. $1.12; sees Q4 revs $355M plus/minus $20M vs. est. $373.09M. Amyris, Inc. ($AMRS) shares fell -25%; 3Q adj EPS ($0.27) vs est. ($0.15) on revs $48Mm vs est. $64.2Mm; sees FY revs $330-370Mm vs est. $391.6Mm; says supply chain challenges impacting near-term performance and growth trajectory Cabot ($CBT) Q4 adj EPS $1.01 vs. est. $1.03; Q4 revs $904M vs. est. $915.01M; Q4 Reinforcement Materials led the way delivering an increase in EBIT of $167 million while Performance Chemicals also recorded strong results; sees FY22 EPS $5.20-$5.60 vs. est. $5.52 Virgin Galactic ($SPCE) Q3 EPS loss (-$0.32) vs. est. loss (-$0.28); Q3 revs $2.6M vs. est. $1.6M; commercial service on track for q4 2022; strong ticket sales at updated pricing of $450,000 per seat; cash position remains strong at approximately $1.0 billion Financials CoreCivic, Inc. ($CXW) Q3 adj FFO/share $0.48, adj EPS $0.28 vs est. $0.18, revenue $471.2M vs est. $467.1M, adj EBITDA $100.9M vs est. $85.3M; is not providing full-year guidance due to uncertainties surrounding the resurgence of Covid-19 caused by the Delta variant and the administration’s executive actions and policies related to immigration and criminal justice, but will provide FY22 guidance in February when reporting 4Q21 results Cohen & Steers, Inc. ($CNS) preliminary assets under management of $101.6 billion as of October 31, 2021, an increase of $4.3 billion from assets under management at September 30, 2021. The increase was due to net inflows of $138 million and market appreciation of $4.4 billion, partially offset by distributions of $203 million. First Advantage ($FA) files to sell 15M shares of common stock for holders Lemonade Inc. ($LMND) will acquire Metromile in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash PayPal ($PYPL) Q3 non-GAAP EPS $1.11 vs. est. $1.07; Q3 revs $6.18B vs. est. $6.23B; Q3 total payment volume of $310B, growing 26%, and 24% on an FX-neutral basis; 4.9 billion payment transactions in qtr, up 22%; expects to add about 55Mm NNAs, including about 3 million active accounts from the acquisition of Paidy; 13.3M NNAs added in qtr , bringing total active accounts to 416 million, up 15%; expects FY TPV growth to be in the range of about 33%-34% at current spot rates and about 31%-32% on an FX basis Robinhood ($HOOD) said a third party had obtained access to email addresses of about 5 mln of its customers, while full names for a different group of nearly 2 mln people in an incident, which took place on Nov. 3; said 310 people had more personal information, including names, birth, dates and zip codes compromised, while 10 customers had more extensive account details revealed Third Coast Bancshares ($TCBX)5M share IPO priced at $25.00

$RNG DING DING

Tuesday, August 17, 2021 Futures Up/Down % Last Dow -221.00 0.62% 35,313 S&P 500 -21.25 0.49% 4,452 Nasdaq -59.50 0.39% 15,075 U.S. equity-index futures are looking lower this morning, while global stocks have fallen for a second day amid several market concerns. U.S. major averages hit record highs (S&P 500 and Dow record high closes for a 5th straight session) on Monday as investors moved into defensive sectors (Healthcare, Staples, Utilities) and stocks recovered from losses earlier in the session, shaking off glum economic data out of China and the U.S., but start the day on shaky ground yet again. Several factors playing into the morning decline including: 1) concerns that more lockdowns could be needed to contain the coronavirus pandemic; 2) Treasury yields fall ahead of an address by Federal Reserve Chairman Jerome Powell on the health of the world’s largest economy; 3) Dow component Home Depot (HD) reports a top and bottom-line beat, but weaker-than-expected comp sales drag shares lower; 4) Federal Reserve Bank President Eric Rosengren said Monday he could be prepared to begin rolling back economic stimulus this fall. But he said he wouldn’t boost interest rates until the employment picture improves; 5) China markets tumble following another regulatory crackdown after China published detailed rules to tackle unfair competition and companies’ handling of critical data; the draft regulations ban unfair competition and restrict the use of user data. Investors were also digesting news from Afghanistan, where thousands of civilians desperate to flee the country thronged Kabul airport after the Taliban seized the capital. Asian stocks retreat for fourth day as the Hang Seng and Shanghai Composite lose ground after China issues draft rules targeting unfair online competition. The Kosdaq sinks 2.3% as Korean selloff resumes following Monday’s holiday. The Nikkei Index fell -98 points to 27,424, the Shanghai Index tumbled -70 points (or 2%) to 3,446 and the Hang Seng Index declined -435 points (1.66%) to 25,745. In Europe, the German DAX is down around -40 points to 15,885, while the FTSE 100 is up a few points to 7,165. Wal-Mart earnings expected later this morning as well. Market Closing Prices Yesterday The S&P 500 Index gained 11.71 points, or 0.26%, to 4,479.71 The Dow Jones Industrial Average rose 110.02 points, or 0.31%, to 35,625.40 The Nasdaq Composite slumped -29.13 points, or 0.20%, to 14,793.76 The Russell 2000 Index declined -19.69 points, or 0.89% to 2,203.41 Events Calendar for Today 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Advance Retail Sales MoM for July…est. (-0.02%) 8:30 AM ET Retail Sales Ex; Autos MoM for July…est. 0.1% 8:55 AM ET Johnson/Redbook Weekly Sales 9:15 AM ET Industrial Production MoM for July…est. 0.5% 9:15 AM ET Capacity Utilization for July…est. 75.7% 10:00 AM ET Business Inventories MoM for June…est. 0.8% 10:00 AM ET NAHB Housing Market Index for Aug…est. 80 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AIT, CRTD, HD, OB, PINC, WMT Earnings After the Close: A, CDK, CREE, CRMT, DNUT, INST, JKHY, LZB Other Key Events: EnerCom Oil & Gas Conference (virtual), 8/15-8/18 BWS Financial Growth and Value Conference (virtual), 8/16-8/17 Needham MedTech and Diagnostics Conference (virtual), 8/16-8/17 Truist Atlanta Bank Summit (virtual) 8/16-8/17 Davidson West Coast Bank Tour (virtual), 8/17-8/18 Deutsche bank Transportation Conference (virtual), 8/17-8/18 Macro Up/Down Last Nymex -0.33 66.96 Brent -0.23 69.28 Gold 6.55 1,794.00 EUR/USD -0.0012 1.1766 JPY/USD 0.05 109.29 10-Year Note -0.027 1.23% World News The Fed’s Rosengren said last night his preference would be to start tapering bond purchases in the fall, potentially October or November, no later than December; says if we get another strong labor market report, he would be supportive of announcing taper program in September Sector News Breakdown Consumer Home Depot ($HD) shares fall -4% on comp sales miss; Q2 EPS $4.53 vs. est. $4.43; Q2 revs $41.12B vs. est. $40.73B; Q2 comp sales rose 4.5% below est. 5.6% and comparable sales in the U.S. increased 3.4% vs. est. 4.9%; number of customer transactions declined by 5.8% YoY to 481.7 million, but the average ticket size grew 11% to $82.48 Stanley Black & Decker ($SWK) agreed to acquire the remaining 80% ownership stake in MTD Holdings Inc., a privately held global manufacturer of outdoor power equipment, for $1.6 billion in cash Gan Ltd. ($GAN) Q2 EPS loss (-$0.07) vs. est. loss (-$0.01); Q2 revs $34.6M vs. est. $34.53M; sequential revenue growth of 24%, driven by strong international results in b2c segment; reiterates revenue guidance of $125 – $135 million, or 270% YoY growth at the mid-point; backs FY21 revenue view of $125M-$135M Lightning eMotors ($ZEV) Q2 EPS loss (-$0.79) vs. est. loss (-$0.14); Q2 revs $5.9M vs. est. $5.37M; sees Q3 revs $4M-$6M vs. est. $10.58M; sees Q3 adjusted loss from operations $12M-$13M; no longer expects to meet full year guidance; said no orders have been cancelled and company expects to fulfill those orders in future quarters; sees for qtr ending sept 30, vehicle and powertrain sales of 28 units to 40 units Elys Game Technology ($ELYS) Q2 revenue $11.7M vs est $10.89M; 2Q Betting Handle +134% YoY to $220.1M; Q2 GGR +153.8% YoY to $14.9M; Q2 total revenue +143% YoY to $11.7M Spirit Airlines ($SAVE) said it expects total operating revenues in the range of $885M – $955M vs. $1.05B consensus and adjusted operating expenses between $1,030M and $1,040M; expects a negative revenue impact of ~50M from 2,826 flight cancellations between July 30 and August 9, due to airport staffing shortages and adverse weather; also noted softer-than-expected booking trends and increased close-in guest cancellations, likely due to a resurgence in COVID-19 cases Energy, Industrials and Materials Ammo Inc. ($POWW) Q1 adj EPS $0.13 on revs $44.5M, up 360%; says raising 2022 revenue guidance from $190M to $210M, including reiterating our expectation for Q2 revenue of at least $51M and sees Q3 revs about $60M; increasing our Adjusted EBITDA guidance for fiscal 2022 from $65M to $70M Clean Energy Fuels Corp. ($CLNE) announced a slew of new deals in response to the demand for renewable natural gas ($RNG), a fuel produced from organic waste, as more fleets adopt and expand their use of the low-carbon transportation fuel. RNG represents more than 74 percent of the 26 million gallons of fuel Clean Energy expects to provide through these recent signed agreements. Clean Energy has a stated goal of providing 100 percent zero-carbon renewable fuel at its stations by 2025. Financials Opendoor Technologies inc. ($OPEN) announces proposed convertible senior notes offering Healthcare Berkshire Hathaway reduced its stakes in large cap Pharma names Merck (MRK) by 48.8% to 9.2M shares, AbbVie ($ABBV) by 10.2% to 20.5M shares and Bristol-Myers (BMY) by 15.3% to 26.3M shares and exited shares in Biogen ($BIIB) according to 13F filings The Biden administration is planning to announce that most Americans who have received the coronavirus vaccine will need booster shots eight months after being fully vaccinated as the delta variant sparks a surge in Covid-19 cases – Washington Post Eli Lilly and Company ($LLY) today announced executive leadership changes and the creation of neuroscience and immunology business units. These changes will increase Lilly’s focus on introducing breakthrough new medicines to millions of people with unmet needs. Incyte ($INCY) and InnoCare announced that Incyte and a subsidiary of InnoCare have entered into a collaboration and license agreement for the development and commercialization of tafasitamab, a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, in China Clovis ($CLVS) renews at-the-market equity program with $125M offering Globus Medical ($GMED) announced that Excelsius3D, an intelligent intraoperative 3-in-1 imaging system, has been granted 510(k) clearance by the FDA Solid Biosciences Inc. ($SLDB) ends q2 with about $249 mln cash and investments; cash runway into q4 2022; said net loss for Q2 of 2021 was $18.7M vs. $19.0M for Q2 of 2020 Technology, Media & Telecom Roblox Corp. ($RBLX) shares fall -6%; Q2 EPS loss (-$0.25) vs. est. $0.24; Q2 revs $454.1M vs. est. $689.2M; qtrly bookings increased 35% over q2 2020 to $665.5M; qtrly average daily active users ($DAUs) were 43.2 mln, an increase of 29%; qtrly average bookings per DAU was $15.41, a slight increase year over year Chinese stocks listed in the U.S. ($BIDU, $BABA, $DIDI, $JD, $NTES) fall in premarket trading following Beijing’s latest moves to tighten its grip on the nation’s internet giants and after SEC Chair Gary Gensler issued his most direct warning yet about the risks of investing in Chinese companies Sea Limited ($SE) Q2 EPS loss (-$0.61) vs. est. loss (-$0.52); Q2 revs $2.3B vs. est. $1.93B; digital entertainment active users 725.2 million, +45% y/y; digital entertainment paying users 92.2 million, +85% y/y; said is raising the guidance for both digital entertainment and e-commerce for the full year of 2021. We expect bookings for digital entertainment to be between $4.5 billion and $4.7 billion, representing 44.4% growth from 2020 at the midpoint of the revised guidance Fabrinet ($FN) Q4 Non-GAAP EPS $1.31 vs. est. $1.22; Q4 revs $509.6M vs. est. $487.5M; sees Q1 revs $510M-$530M vs. est. $491.5M Telos Corp. ($TLS) Q2 adj EPS $0.04 vs. est. $0.02; Q2 revs $52.56M vs. est. $53.7M; backs FY21 rev view to $283M-$295M vs. est. $288.75M; said sees FY21 adjusted EBITDA $33M-$36M. Upstart Holdings, inc. ($UPST) announces proposed private offering of $575,000,000 of convertible senior notes due 2026 Global-e Online ($GLBE) Q2 EPS (2c) vs 2 est’s 0c; Q2 rev $57.3M vs est $47.6M; Q2 adjusted EBITDA $7.6M vs. $3.1M YoY; sees Q3 rev $54.3M-$56.3M vs $48.4M; sees Q3 adj EBITDA $2.8M-$3.8M and GMV of $328M-$338M; raises FY21 rev view to $227M- $231M from $209M-$213.5M vs est $210.95M; raises FY21 GMV view to $1.35B-$1.37B from $1.21B-$1.255B

Industrials & Materials Avis Car Rental ($CAR) Q2 adj EPS $5.90 vs. est. $1.21; Q2 revs $2.37B vs. est. $1.86B; Adjusted EBITDA in the Americas was $634 million for second quarter 2021 driven by continued sequential revenue growth and sustained cost discipline; liquidity position at the end of the quarter was approximately $1.8 billion with an additional $3.4 billion of fleet funding capacity Lyft Inc. ($LYFT) 2Q revs $765Mm vs est. $696.9Mm, adj net loss $18Mm, grew active riders in 2Q more than 3.6Mm sequentially, qtrly revs per active rider $44.63, says company would be able to keep costs down when ridership returns to pre-covid levels Curtis-Wright (CW) 2Q adj EPS $1.56 vs est. $1.54 on sales $621.5Mm vs est. $593.1Mm; guides FY adj EPS $7.15-7.35 vs est. $7.30, sees FY sales $2.465-2.515B vs est. $2.495B; increased qtrly dividend by 6% to $0.18 Kratos Defense ($KTOS) 2Q adj EPS $0.06 vs est. $0.06 on revs $205.1Mm vs est. $198.9Mm; guides 3Q revs $195-205Mm vs est. $215.95Mm; reaffirms previous FY guide for revs, adj EBITDA and FCF Lockheed Martin ($LMT) cut its full-year earnings forecast due to its purchase of group annuity contracts from Athene Holding ($ATH) to transfer $4.9B in pension obligations and related plan assets for ~18K U.S. retirees and beneficiaries. FMC Corp. ($FMC) Q2 adj EPS $1.81 vs. est. $1.78; Q2 revs $1.2B vs. est. $1.23B; cuts FY21 adjusted EPS view to $6.54-$6.94 from $6.70-$7.40 (est. $7.12); backs rev outlook of $4.9B-$5.1B; cuts FY21 adjusted EBITDA view to $1.29B-$1.35B from $1.32B-$1.42B Innospec ($IOSP) 2Q adj EPS $1.30 vs est. $0.89 on revs $354.5Mm vs est. $340.35Mm O-I Glass (OI) Q2 adj EPS $0.54 vs. est. $0.47; Q2 revs $1.7B vs. est. $1.55B; sees FY21 EPS $1.65-$1.75 vs. est. $1.68; now expects sales volume in tons should increase 4%-5% compared to 2020; says anticipates cash provided by operating activities of around $660M and approximately $260M in free cash flow Media & Telecom Lumen ($LUMN) to sell local incumbent carrier operations in 20 states to Apollo funds for $7.5 billion; transaction will sharpen lumen’s enterprise focus, accelerate the quantum fiber deployment, and drive growth on the lumen platform com ($MTCH) 2Q adj EPS $0.46 vs est. $0.52 on revs $708Mm vs est. $691.1Mm; qtrly payers +15% to 15Mm, qtrly tinder direct revs +26% (payers +17% to 9.6Mm); says seeing strong recovery in US and improvement in Europe; says rising vaccination rates helping tinder direct rev growth; guides 2H total match group revs more than +25%; sees FY revs over $3B vs est. $2.92B; guides 3Q EBITDA $275-280Mm vs est. $287.5Mm; sees FY EBITDA $1.045-1.06B vs est. $1.075B Technology Activision ($ATVI) Q2 adj EPS $1.20 vs. est. $0.75; Q2 net bookings $1.92B vs. est. $1.89B; raises FY21 adjusted EPS view to $3.54 from $3.42 (est. $3.77) and boosts FY21 net bookings view to $8.65B from $8.6B (est. $8.77B); for qtr ended June 30, 2021, overall Activision blizzard monthly active users were 408 mln Akami ($AKAM) Q2 non-GAAP EPS $1.42 vs. est. $1.38; Q2 revs $853M vs. est. $845.36M; q2 security technology group revenue of $325 mln, up 25% year-over-year; Q2 edge technology group revenue of $528 mln, down 1% year-over-year; sees Q3 EPS $1.37-$1.41 vs. est. $1.35 Alteryx Inc. ($AYX) Q2 EPS loss (-$0.08) vs. est. loss (-$0.25); Q2 revs $120.1M vs. est. $113.04M; sees FY21 non-GAAP EPS loss (26c)-(12c), vs. consensus loss (1c); sees FY21 revenue $520.0M-$530.0M below consensus $571.48M; sees FY21 ARR $635.0M; Ended the second quarter of 2021 with 7,405 customers, a 10% increase from the second quarter of 2020 Blackbaud ($BLKB) 2Q adj EPS $0.82 vs est. $0.72 on revs $229.4Mm vs est. $225.4Mm Infinera ($INFN) Q2 EPS loss (-$0.03) vs. est. loss (-$0.05); Q2 revs $338.23M vs. est. $344.87M; sees Q3 revenue $354M plus/minus $15M, vs. est. $362.32M Lattice Semiconductor ($LSCC) Q2 adj EPS $0.25 vs. est. $0.22; Q2 revs $125.9M vs. est. $120.25M; sees Q3 revs $124M-$132M vs. est. $121.42M; said drove 25% year-over-year revenue growth, with a 49% expansion in non-GAAP net income year-over-year LivePerson ($LPSN) 2Q EPS ($0.31) vs est. ($0.13) on revs $119.6Mm vs est. $113.3Mm; guides 3Q revs $117-119Mm vs est. $117.9Mm, sees 3Q loss $0.49-0.55 vs est. loss $0.11; guides FY revs $464-471Mm vs est. $465.7Mm McAfee ($MCFE) declares special dividend of $4.50 per share Microchip ($MCHP) 1Q adj EPS $1.98 vs est. $1.91 on sales $1.569B vs est. $1.55B; guides 2Q revs $1.616-1.679B vs est. $1.594B, sees 2Q adj EPS $2.05-2.17 vs est. $1.99 Paycom Software ($PAYC) 2Q adj EPS $0.97 vs est. $0.84 on revs $242.1Mm vs est. $232.1Mm; guides 3Q revs $249-251Mm vs est. $242.6Mm; guides FY revs $1.036-1.038B vs est. $1.018B RingCentral ($RNG) 2Q adj EPS $0.32 vs est. $0.28 on revs $379Mm vs est. $359.9Mm; guides 3Q adj EPS $0.33-0.34 vs est. $0.31, sees 3Q revs $390.5-393.5Mm vs est. $384.5Mm; guides FY revs $1.539-1.545B vs est. $1.508B Skillz, Inc. ($SKLZ) Q2 EPS loss (-$0.21) vs. est. loss (-$0.10); Q2 revs $89.5M vs. est. $88.2M Veeco Instruments ($VECO) 2Q adj EPS $0.35 vs est. $0.27 on revs $146.3Mm vs est. $136Mm; guides 3Q revs $135-155Mm vs est. $141Mm, sees 3Q adj EPS $0.25-0.44 vs est. $0.32 Vivint Smart Home ($VVNT) 2Q revs $355.2Mm vs est. $340.7Mm, new subs +12.6% to 121,599; guides FY revs $1.38-1.42B vs est. $1.416B, sees FY total subs 1.80-1.85Mm

577 $RNG 6AUG2021 $277.5 Cs trade 7.7

577 $RNG 6AUG2021 $277.5 Cs trade 7.7

$EVO Q2'21 Revenue +100% *North America +220% *Asia +133% *Live +59% *RNG -2% EBITDA +115% *marg. 68.0% (63.2) EBIT +110% *marg. 60.7% (57.8) Net Profit +105% *marg. 56.3% (54.9) EPS +75%

i remember when i bought RNG at 165 and Schmidy was like RNG is dead have fun losing money

$RNG has nice setup

/*============================================= = Premarket Prep 06/01/21 = =============================================*/ U.S. stock futures looking higher, tracking gains in Europe and Asia ahead of manufacturing data that will give fresh insights into the economic recovery. S&P futures are looking higher after closing out May with its fourth consecutive monthly advance as investors have grown more confident that rising inflation won’t lead central banks to ease monetary policy measures, pushing major indexes back toward all-time highs in recent weeks. Economic data in the form of manufacturing showed strength in both Europe and Asia overnight with ISM data coming at 10:00 AM later this morning. For the week, the S&P rose 1.17%, the Dow added 0.94%, the Nasdaq gained 2.06%. For the month, the S&P rose 0.55%, the Dow added 1.94%, and the Nasdaq shed 1.53%. Stocks gained on Friday as investors considered new economic data on consumer spending, income and inflation alongside stronger-than-expected data reports from earlier this week. In Asian markets, The Nikkei Index fell -45 points to 28.814, the Shanghai Index rose 9 points to 3,624 and the Hang Seng Index jumped 316 points to 29,468. In Europe, the German DAX is up over 220 points to 15,640, while the FTSE 100 rises over 80 points to top 7,100. Market Closing Prices Yesterday The S&P 500 Index gained 3.23 points, or 0.08%, to 4,204.11 The Dow Jones Industrial Average rose 64.81 points, or 0.19%, to 34,529.45 The Nasdaq Composite climbed 12.46 points, or 0.09%, to 13,748.74 The Russell 2000 Index declined -4.10 points, or 0.18% to 2,268.97 Events Calendar for Today 7:45 AM ET ICSC Weekly Retail Sales 8:55 AM ET Johnson/Redbook Weekly Sales 9:45 AM EST Markit Manufacturing PMI, May-F 10:00 AM EST Construction Spending for April 10:00 AM EST ISM Manufacturing PMI, for May 10:30 AM EST Dallas Fed Manufacturing for May Earnings Calendar: Earnings Before the Open: $GHM, $KIRK Earnings After the Close: $AMBA, $APPS, $HPE, $ITI, $MDLA, $OESX, $ZM Other Key Events: Cowen 49th Annual TMT Conference (virtual), 6/1-6/3 Deutsche Bank FinTech and Info Service Conference (virtual), 6/1-6/2 Goldman Sachs 3rd Asia Spotlight Symposium (virtual), 6/1-6/4 Jefferies Global Healthcare Conference, 6/1-6/3 KeyBanc Capital Markets Industrials & Basic Materials Conference (virtual), 6/1-6/4 William Blair 40th Annual Growth Stock Conference (virtual), 6/1-6/3 OPEC+ June meeting Macro Up/Down Last Nymex 1.78 68.10 Brent 1.39 70.71 Gold 0.15 1,907.00 EUR/USD 0.0001 1.2228 JPY/USD 0.03 109.61 10-Year Note +0.028 1.622% World News China’s factory activity expanded at the fastest pace this year in May as domestic and export demand picked up, as the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 52.0 last month, the highest level since December and inching up from April’s 51.9. China will allow all couples to have a third child, a surprise move aimed at slowing the nation’s declining birthrate as risks to the economy’s long-term prospects mount because of a rapidly aging population OECD releases U.S. economic forecasts in Paris as PCE 2.6% y/y in 2022; 2.9% y/y in 2021; core PCE 2.6% y/y in 2022; 2.5% y/y in 2021; unemployment rate 4.3% y/y in 2022; 5.6% y/y in 2021 Iran and world powers have started what could be their final negotiations to revive a 2015 nuclear accord that limited the Islamic Republic’s atomic activities in return for sanctions relief. The fifth round of talks has begun in Vienna RBA Rate Decision: Leaves cash rate unchanged at 0.1%, leaves 3Y AGB yield target at 0.1%; RBA won’t increase cash rate until actual inflation is sustainably within 2-3% target range which is unlikely to be 2024 at earliest; a pick-up in inflation/wages is expected but likely to be gradual & modest Sector News Breakdown Consumer AMC Entertainment ($AMC) issued to Mudrick Capital Management, 8.5 mln shares of company’s class a common stock for $230.5 mln Nio ($NIO) said it delivered 6,711 vehicles in May, up 95.3% Y/Y and down 5.5% M/M from April delivery of 7,102 vehicles. Xpeng Inc ($XPEV) said May deliveries jump nearly sixfold as May vehicle deliveries surged 483% to 5,686 units, spurred by record-high demand for XPEV’s P7 sedan Krispy Kreme has filed a Registration Statement on Form S-1 with the SEC relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined Macau’s gaming bureau reported May gross revenue from games of fortune in the region increased 492.2% year-over-year to 10.445B patacas (watch shares of $WYNN, $MLCO, $MGM) Planet Fitness ($PLNT) shares stock could drop 50% after a stunning recovery according to Barron’s as growth slows and the market becomes saturated. Article notes Teton Fund Management, which has shorted the stock, says millions of members will never return to a gym. Dollar General ($DG) and Dollar Tree ($DLTR) reported fiscal-first-quarter results before the bell on Thursday, and both beat analysts’ expectations-but that’s where the similarities end, according to Barron’s. DLTR warned freight costs could have a big impact on earnings, the latest indication that Dollar General is the stronger operator-and that doesn’t look set to change anytime soon For airlines, the Transportation Security Administration (TSA) reported that it screened almost 1.96 million people at airports, compared with 1.85 million on Thursday. That’s the most since March 7, 2020, when the COVID-19 pandemic was in its early stages Energy, Industrials and Materials Oil prices are higher by over 2% (WTI crude $68 per barrel and Brent tops $70) as the latest OPEC+ gathering takes place via videoconference today. OPEC+ decided in April to return 2.1M barrels per day to the market from May to July, anticipating rising global demand. Since the announcement, the crude price has risen from $60 toward the $70 level Exxon Mobil Corp ($XOM) rises along with Equinor EQNR and Petrogal Brasil says they will proceed with an $8 bln development of Brazil’s Bacalhau oil discovery Exxon ($XOM) suffered a setback this week when it lost at least two board seats to the upstart activist Engine No. 1, but the defeat could move the oil giant forward to benefit both the company and the shareholders, according to Barron’s Virgin Galactic ($SPCE) filed a shelf registration for $1 billion of mixed securities, plus 2.7m shares issuable upon the exercise of previously sold warrants Financials American Financial ($AFG) declares special dividend of $14 per share after announces closing of the sale of its annuity businesses and declares special dividend Healthcare Liminal BioSciences Inc. ($LMNL) said it has decided to stop its plans to move fezagepras into a Phase II clinical study in Idiopathic Pulmonary Fibrosis and a phase Ia/IIb study in Hypertriglyceridemia, as it evaluates the impact of the PK data profile observed in the on-going study. Forte Biosciences ($FBRX) files $300M mixed securities shelf Aeglea BioTherapeutics ($AGLE) files to sell 19.02M shares of common stock for holders Technology, Media & Telecom Cloudera ($CLDR) entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR ($KKR) in an all-cash transaction valued at approximately $5.3B (confirming reports overnight by the WSJ). Cloudera shareholders will receive $16.00 in cash per share, representing a 24% premium to the closing price as of May 28, 2021 – confirms overnight WSJ https://on.wsj.com/3uCAZ0g RingCentral ($RNG) team up with Deutsche Telekom ($DTEGY) to transform business communications for customers of all sizes. The chip shortage is creating an opportunity for two stocks according to Barron’s, Applied Materials ($AMAT) and Lam Research ($LRCX) saying both trade at about 20x earnings estimates for the next 12 months, lower than the multiples of S&P 500 Index and the PHLX semiconductor Index. SemiLEDs ($LEDS) files $30M mixed securities shelf

$RNG is a great scale in here

$UPWK $LYFT $Z $RNG $SKLZ $COUR $AKAM also AMC

RNG on watch

$CAR $LZB $RNG $QS after the bell

$RNG got that 450 upgrade and sold off a bit

$RNG looong base on the daily

$RNG busted loose today

$PACB $RNG $XLK oon deck ...waiting for trigger

Notable earnings after Monday's close AL, AMBC, ARNA, BYND, CNXN, DHT, DIOD, ELY, GSKY, HAIN, IFF, IHRT, INO, IPAR, MBI, MWA, MYGN, NBIX, NCLH, NGL, NHI, NKLA, NVAX, OR, OSH, OXY, RAMP, REAL, RNG, RPAY, SCOR, SPG, SPT, STAY, SWAV, TCO, TLND, TLRY, WES, WPM, ZGNX, ZI, ZIXI

8/3 EPS Winners: $MCK, $TSN, $EME, $CLX, $TKR, $MCY, $J, $RNG, $SEDG, $ICHR, $CHGG

$RNG beat and raise

out some $RNG spreads here 5.9 to 11.5

$CRWD $RNG my two software longs leading today, #feelsgoodman

$RNG sept 300s

twlo okta rng strong

love $RNG yearly chart

$rng gonna make new aths soon

@benlax which spreads u have for $RNG ?

$RNG great relative strength. mistake selling aug calls there but still have some aug spreads

rng band net nice relative strength today

out $RNG 14 to 21.8

like sdgr, okta, rng

i remember the meeting on RNG

$RNG could be nice here

matt with the yuge $RNG pump

$RNG JEFFERIES RECOMMENDS BUYING SHARES AHEAD OF EARNINGS BASED ON RECENT POSITIVE INDUSTRY CHECKS, MANAGEMENT EXECUTION & 12% PULL SINCE 7/6 -- $300 PRICE TARGET