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Friday, November 5, 2021 Futures Up/Down % Last Dow 12.00 0.03% 36,021 S&P 500 10.25 0.23% 4,684 Nasdaq 82.50 0.51% 16,413 Stock futures are looking higher, with the tech heavy Nasdaq futures leading up +0.5%, trying to make it a 10th straight day of advances for the Composite ahead of key economic data. The monthly nonfarm payroll report for October is coming up later this morning, with an estimate for 450K jobs added, 400K added for private payrolls, 27K added for manufacturing and an unemployment rate to drop to 4.7% from 4.8% prior. Regardless of the data outcome, the Fed earlier this week announced it will start tapering its monthly $120B bond purchases by $15B in November and another $15B in December, also saying comparable decreases in pace are likely each month but they are willing to adapt if necessary. Stocks are looking to build on the momentous surge it has seen over the last two weeks, as the S&P 500 is on pace for its third straight year of 15%+ price gains, that would be just the second time that’s happened since 1928, according to Bespoke Investment. The S&P 500 and Nasdaq both closed at record high levels on Thursday, powered by double-digit percentage gains chipmakers Qualcomm and Nvidia. Qualcomm surged nearly 13% after the company provided a stronger than expected outlook, fueled by soaring demand for chips used in phones, cars and other internet-connected devices. Note the S&P 500 and Nasdaq’s have now set record high closes for six straight sessions. On the downside, the financials index sank Thursday as Treasury yields extended their tumble. With Thursday’s gains, the S&P 500 is up almost 25% in 2021 and the Nasdaq has gained nearly 24%. The Philadelphia chip index (SOX) jumped 3.5% for the session and it is now up 33% year to date. In Asian markets, The Nikkei Index fell -0.6% to 29,611, the Shanghai Index dropped -1% to 3,491 and the Hang Seng Index declined -1.4% or over 3250 points to 24,879. In Europe, the German DAX is up slightly at 16,040, while the FTSE 100 gains roughly 0.5% to trade above the 7,300 level in another good week for European markets. Oil prices are bouncing after yesterday’s drop, Bitcoin stays above $61K and Treasury yields remain depressed. Market Closing Prices Yesterday The S&P 500 Index climbed 19.49 points, or 0.42%, to 4,680.06 The Dow Jones Industrial Average fell -33.35 points, or 0.09%, to 36,124.23 The Nasdaq Composite spiked 128.72 points, or 0.81%, to 15,940.31 The Russell 2000 Index slipped -1.85 points, or 0.08% to 2,402.43 Events Calendar for Today 8:30 AM ET Nonfarm Payrolls for October…est. 450K 8:30 AM ET Private Payrolls for October…est. 400K 8:30 AM ET Manufacturing Payrolls for October…est. 27K 8:30 AM ET Unemployment Rate for October…est. 4.7% 8:30 AM ET Average Hourly Earnings for October…est. 0.4% 1:00 PM EST Baker Hughes Weekly rig count data 3:00 AM ET Consumer Credit for September Earnings Calendar: Earnings Before the Open: AMR, AXL, CLMT, CNK, D, DKNG, DOC, ECOL, EOG, ESNT, FET, FLR, GCI, GRPN, GT, HE, JCI, KIM, MMI, MOG/A, NOG, RGA, SRE, SSP, TEN, TILE, TUSK, VTR, VST Macro Up/Down Last Nymex 0.85 79.66 Brent 0.51 81.05 Gold 1.50 1,793.50 EUR/USD -0.0021 1.1531 JPY/USD 0.08 113.86 10-Year Note +0.008 1.532% Sector News Breakdown Consumer B&G Foods (BGS) Q3 adj EPS $0.55, in-line with ests; Q3 revs $515M vs. est. $489.64M; reaffirms FY21 revenue view $2.05B-$2.1B and sees FY21 adjusted EBITDA $358M-$365M Floor & Decor (FND) Q3 EPS $0.69 vs. est. $0.57; Q3 revs rose 28% to $876.6M vs. est. $856.74M; said Q3 comp sales rose 10.9% Yoy Funko (FNKO) Q3 adj EPS $0.39 vs est. $0.27 on sales $267.7M vs est. $240.7M; DTC sales +88% YoY, now account for 11% of net sales; sees FY21 adj EPS $1.20-$1.31 vs est. $1.15 on sales $950M-$975M vs est. $922.1M GoPro (GPRO) Q3 adj EPS $0.34 vs est. $0.20 on revenue $316.7M vs est. $292.2M, adj EBITDA $60.4M vs est. $39.8M; subscriber count 1.34M, +168% YoY; avg selling price $381, +25% YoY Monster Beverage (MNST) 3Q EPS $0.63 vs est. $0.67 on sales $1.41B vs est. $1.4B Peloton (PTON) shares plunge 30%; 1Q EPS ($1.25) vs est. ($1.07) on revs $805.2Mm vs est. $810.7Mm, 1Q connected fitness subs +87% to 2.49Mm and paid digital subs +74% to 887K; guides 2Q revs about $1.1-1.2B vs est. $1.5B, sees FY revs $4.4-4.8B vs est. $5.4B Shake Shack (SHAK) Q3 adj EPS (5c) vs est. (6c) on revenue $193.9M vs est. $197.5M, same-store sales +24.8%; sees Q4 revenue $193.5M-$200M vs est. $202.1M; Uber Technologies (UBER) Q4 EPS loss (-$1.28) vs. est. loss (-$0.33); qtrly revenue grew 72% yoy to$4.8 billion, or 69% on a constant currency basis; qtrly gross bookings reached an all-time high of $23.1 bln, up 57% YoY; airport gross bookings mix in U.S. has reverted back to pre-covid levels while approaching 12% to 13% of global mobility gross bookings; for the first time in 2021, demand recovery is in balance with supply recovery; beginning to rapidly build non-restaurant food delivery offerings in 2021 WW Inc. (WW) Q3 EPS $0.65 vs. est. $0.73; Q3 revs $293.5M vs. est. $314.12M; ends Q3 with subscribers of 4.5M; sees FY21 GAAP EPS 80c-90c below consensus $1.65; sees FY21 revs modestly above $1.2B vs. est. $1.29B The Real Good Food Company (RGF)333M share IPO priced at $12.00 Energy Delek (DK) Q3 adj EPS $0.13 vs. est. loss (-$0.35); Q3 revs $2.96B vs. est. $2.55B; refining contribution margin increased to $91.4 mln in q3 2021 from negative $17.8M in Q3; midstream remains resilient with dkl on-track to deliver a 5% distribution increase on a full-year basis EOG Resources (EOG) Q3 adj EPS $2.16 vs. est. $2.04; Q3 revs $4.77B vs. est. $4.53B; qtrly total company crude oil production of 449,500 boed; increased regular dividend 82% to an indicated annual rate of $3.00 per share; Generated $1.4 billion of free cash flow; capital expenditures near low end of guidance range driven by sustainable cost reductions First Solar (FSLR) 3Q EPS $0.42 vs est. $0.59 on revs $584Mm vs est. $685Mm; guides FY net sales $2.875-3.1B vs est. $2.9B, sees FY EPS $4.00-4.60 vs est. $4.15 Occidental Petroleum (OXY) Q3 EPS $0.87 vs. est. $0.66; Q3 revs $6.81B vs. est. $6.55B; total average production from continuing operations of 1,160 thousand of barrels of oil equivalent per day for q3; in qtr, average worldwide realized crude oil prices increased by about 7% from prior qtr to $68.74 per barrel SunRun (RUN) Q3 EPS $0.11 vs. est. $0.01; Q3 revs $438.8M vs. est. $414.3M; Customer Additions of 30,698 in Q3, Bringing Total Customers to 630,441, 20% year-over-year growth in Customers pro-forma for Vivint Solar; Net Subscriber Value of $7,605 in Q3, an increase of $2,031 from Q2; Annual Recurring Revenue of $787 Million with Average Contract Life Remaining of 17.3 years Financials AIG Inc. (AIG) Q3 adj eps $0.97 vs. est. $0.89; qtrly total general insurance net premiums written increased 11% to $6.6 billion from prior year quarter; qtrly total general insurance underwriting income was $20 mln compared to an underwriting loss of $423 million in prior year quarter; qtrly general insurance APTI increased by $395 million to $811 million from prior year quarter CubeSmart (CUBE) 3Q adj FFO/shr $0.56 vs est. $0.53, qtrly same-store occupancy averaged 95.6% and ended qtr at 94.8%; guides Fy adj FFO/shr $2.09-2.10 vs est. $2.04 Redfin (RDFN) 3Q EPS ($0.20) vs est. ($0.19) on revs $540Mm vs est. $534.9Mm; guides 4Q revs $585-606Mm vs est. $503.4Mm Green Dot (GDOT) Q3 adj EPS $0.43 vs est. $0.37 on revenue $339.5M vs est. $304.8B; now sees FY adj EPS $2.19-$2.27 from $2.13-$2.27, revenue $1.37B-$1.38B from $1.33B-$1.35B Rocket Co’s (RKT) Q3 adj EPS $0.57 vs est. $0.48 on revenue $3.12B vs est. $2.93B; closed loan volume $88B, gain on sale margin of 3.05%, both of which exceed guidance; sees Q4 closed loan volume $75B-$80B, net rate lock volume $71B-$78B Square Inc. (SQ) Q3 adj EPS $0.37 vs. est. $0.39; Q3 revs $3.84B below est. $4.52B; excluding bitcoin, total net revenue in the third quarter was $2.03 billion, up 45% YoY; bitcoin rev was $1.81 bln in q3, up 11%; bitcoin gross profit was only $42 mln, or about 2% of bitcoin revenue; transaction-based revenue was $1.30 billion in Q3, up 40% YoY; processed $45.4 billion in GPV in Q3 of 2021, up 43% YoY; cash app delivered strong growth, generating $2.39 billion of revenue Monmouth Real Estate (MNR) to be acquired by ILPT for $21.00 per share, or $4B Healthcare Endo Pharma (ENDP) 3Q adj EPS $0.80 vs est. $0.48 on revs $772Mm vs est. $669.7Mm; guides FY revs $2.9-2.94B vs est. $2.79B, sees FY adj EPS $2.80-2.85 vs est. $2.33 Illumina (ILMN) Q3 adj EPS $1.45 vs. est. $1.14; Q3 revs $1.108B vs. est. $1.05B; raises FY rev guidance as expects both consolidated and core Illumina rev growth of about 36% for fy21 Insulet (PODD) 3Q EPS $0.18 vs est. $0.24 on revs $275.6Mm; guides FY revs to +18-20% vs est. +19.9% iRhythm Technologies, Inc. (IRTC) 3Q EPS ($0.81) vs est. ($1.10) on revs $85.4Mm; guides FY revs $317-319Mm vs est. $323.5Mm Mettler-Toledo (MTD) Q3 adj EPS $8.72 vs. est. $8.24; Q3 revs $952M vs. est. $924.31M; anticipates local currency sales growth for q4 of 2021 will be about 8% and EPS growth of 8% to 9%; anticipates local currency sales growth in 2022 will be about 6% Novavax (NVAX) Q3 EPS ($4.31) vs. est. loss ($3.91); Q3 revs $178.8M vs. est. $334.62M; said as of September 30, 2021, Novavax had $1.9B in cash, cash equivalents and restricted cash, compared to $0.8B as of December 31, 2020; announced the completion of its rolling submission to the WHO for emergency use listing of NVX-CoV2373, its COVID-19 vaccine candidate. The FDA has declined to approve an EUA request from NRx Pharmaceuticals (NRXP) for Zyesami (aviptadil) for patients with critical COVID-19 with respiratory failure; shares down -24% Evaxion Biotech (EVAX)43M share Secondary priced at $7.00 IO Biotech (IOBT)15M share IPO priced at $14.00 Industrials & Materials Air Transport Services Group, Inc. (ATSG) 3Q adj EPS $0.60 vs est. $0.46 on revs $466Mm vs es.t $434.7Mm; guides FY adj EBITDA at least $535Mm vs est. $531Mm Barnes Group (BE) Q3 adj EPS (20c) vs est. (9c) on revenue $207.2M vs est. $239M Chemours (CC) 3Q adj EPS $1.27 vs est. $1.02 on revs $1.7B vs est. $1.58B; guides FY adj EPS $3.93-4.13 vs. est. $3.67 Livent Corp. (LTHM) 3Q adj EPS $0.03 vs est. $0.04 on revs $103.6Mm vs est. $96.1Mm; guides FY revs $390-410Mm vs est. $386.4Mm MasTec (MTZ) Q3 adj EPS $1.81 vs. est. $1.68; Q3 revs $2.404B vs. est. $2.28B; guides 4Q adj EPS $1.33 vs est. $1.35, sees 4Q revs about $1.9B vs est. $2.1B Snap-on (SNA) announces $500M share buyback
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Wednesday, October 13, 2021 Futures Up/Down % Last Dow 34.00 0.10% 34,295 S&P 500 5.75 0.14% 4,346 Nasdaq 61.75 0.42% 14,715 U.S. futures recover from overnight losses ahead of Dow component JPMorgan earnings and inflation data later this morning (CPI), reversing overnight losses despite weakness in Dow component Apple (AAPL), which is down about -0.5% after reports it expects to make 10 million fewer iPhone than planned and is poised to slash iPhone production goal due to chip crunch. Oil prices and Treasury yields decline, while gold rises ahead of a key reading of consumer price September inflation. Futures are getting a boost after better economic data in China as September exports rose 28.1% from last year as consumer demand outpace supply chain disruptions and power shortages, while last night’s passage of a debt ceiling extension by House lawmakers puts at least one market concern to the side until early December. In Asian markets, The Nikkei Index fell -90 points to 28,140, the Shanghai Index rose 14 points to 3,561 and the Hang Seng Index was closed. In Europe, the German DAX is up over 100 points to 15,250, while the FTSE 100 is slightly lower at 7,120. U.S. stocks ended lower following a choppy session on Tuesday, with investors nervous about upcoming third-quarter earnings reports. In addition to the CPI data, the Federal Reserve will release minutes from its last policy meeting, and investors are looking for further clues on when the central bank could begin tapering its bond-buying program. Market Closing Prices Yesterday The S&P 500 Index dropped -10.54 points, or 0.24%, to 4,350.65 The Dow Jones Industrial Average fell -117.72 points, or 0.34%, to 34,378.34 The Nasdaq Composite slipped -20.28 points, or 0.14%, to 14,465.92 The Russell 2000 Index advanced 13.63 points, or 0.61% to 2,234.27 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 8:30 AM ET Consumer Price Index (CPI) Headline MoM for September…est. +0.3% 8:30 AM ET CPI Core: Ex Food & Energy MoM for September…est. +0.2% 8:30 AM ET Consumer Price Index (CPI) Headline YoY for September…est. +5.3% 8:30 AM ET CPI Core: Ex Food & Energy YoY for September…est.+4.0% 10:30 AM ET Weekly DOE Inventory Data 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AYR, BLK, DAL, JPM, SOTK Earnings After the Close: ETWO, ODC Other Key Events: China CPI, PPO for September Macro Up/Down Last Nymex -0.56 80.08 Brent -0.60 82.82 Gold 11.60 1,772.80 EUR/USD 0.0034 1.1562 JPY/USD -0.04 113.56 10-Year Note -0.015 1.565% World News China September exports rose1% from last year as consumer demand outpace supply chain disruptions and power shortages Japanese Core Machine Orders (M/M) Aug: -2.4% (exp 1.4%; previous 0.9%); Core Machine Orders (Y/Y) Aug: 17.0% (exp 13.9%; previous 11.1%) The House on Tuesday voted along party lines to raise the U.S. borrowing limit into December, as Democratic lawmakers wrestled with how to set a new ceiling for U.S. debt later this year over Republican resistance. Sector News Breakdown Consumer Duckhorn Portfolio Inc ($NAPA) said selling stockholders are offering 12 mln shares of common stock Monster Beverage ($MNST) downgraded to Hold from Buy at Jefferies Energy, Industrials and Materials International Paper ($IP) announces up to $2B share repurchase program Boeing ($BA) is the latest federal contractor to mandate COVID-19 vaccinations for all employees by December 8 under the Biden administration’s new rules saying its 125K U.S. employees must show proof of vaccination or have an approved religious or medical exemption by the deadline. Yesterday, Chicago soybean futures fell to the lowest level in nearly a year following a U.S. Department of Agriculture report that showed larger than expected yields of soybeans and corn; the USDA showed an uptick of nearly 100M bushels to U.S. corn ending stocks Glencore Plc ($GLNCY) said that it had reached an agreement to sell its zinc business in Bolivia to Canada’s Santa Cruz Silver Mining for some $110M Rattler Midstream LP ($RTLR), a subsidiary of Diamondback Energy, Inc. (FANG) announces strategic midland basin gas gathering & processing joint venture; invested approximately $104 mln in cash to acquire a minority interest in joint venture Vistra ($VST) announces $2 billion share repurchase program Gran Tierra Energy Inc. ($GTE) said that Q3 production grew 53% and that it expects the gains to continue in Q4; said it has produced an average of 28,957 barrels of oil a day in the quarter, compared with 18,944 barrels a day in the prior year period and 23,035 barrels a day QoQ Greenbrier ($GBX) announced the acquisition of more than 3,600 railcars, a portion of which will be held in GBX Leasing Financials BlackRock ($BLK) Q3 adj EPS $10.95 vs. est. $9.35; Q3 revs $5.05B vs. est. $4.9B; qtrly long-term net inflows of $98 billion; assets under management at qtr-end were $9.46 trillion vs $7.81 trillion at end of Q3 AvidXchange ($AVDX)64M share IPO price $25.00 AllianceBernstein L.P. ($AB) preliminary assets under management decreased to $742 billion during September 2021 from $761B at the end of August. Firmwide net inflows were outweighed by market depreciation, resulting in a 2% decline in AUM. In the month of September, net inflows to Retail and Private Wealth were partially offset by net outflows from Institutions. Ellington Financial Inc ($EFC) commenced an underwritten public offering of 5 mln shares of common stock RenaissanceRe Holdings Ltd. ($RNR) estimates that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the Company’s Q3 results of operations Manning & Napier ($MN) preliminary assets under management (AUM) of $22B for September, compared with $22.7B as of Aug.31. Healthcare Sarepta ($SRPT) announces $500M common stock offering and guiding Q3 revs about $166.9M vs. est. $172M; had approximately $1.6 bln in cash, cash equivalents and investments as of September 30, 2021 CRISPR Therapeutics ($CRSP) shares slipped after announcing updated results from the company’s early-stage trial of its CAR-T cell therapy CTX110 as two patients in the phase 1 trial experienced Grade 3 or higher infections, with one patient having HHV-6 encephalitis, and another developing pseudomonal sepsis that resolved in four days. CytoSorbents ($CTSO) receives full FDA investigational device exemption approval to begin U.S. star-d trial on apixaban and rivaroxaban removal by the DrugSorb-ATR™ antithrombotic removal system during urgent cardiothoracic surgery Homology Medicines ($FIXX) announced the pheEDIT Phase 1 clinical trial for HMI-103, a one-time, in vivo product candidate that utilizes a gene editing approach for phenylketonuria, or PKU, based on the investigational new drug application, or IND, clearance from the FDA Apollo EndoSurgery ($APEN)4M share Spot Secondary priced at $7.75 Bicycle Therapeutics ($BCYC)24M share Secondary priced at $54.00 Relay Therapeutics ($RLAY)21M share Secondary priced at $26.50 Biogen ($BIIB) announces results of a new analysis of immune response to the COVID-19 vaccine among people with multiple sclerosis (MS). Teva Pharmaceuticals Europe BV, a European affiliate of Teva ($TEVA) presents new analyses of the COBRA study, which concluded no evidence was found to suggest that infants were adversely affected by maternal exposure to glatiramer acetate (GA) during pregnancy and breastfeeding with use of COPAXONE Technology, Media & Telecom Apple ($AAPL) suppliers Broadcom ($AVGO), Texas Instruments ($TXN) struggling to deliver enough chips; Apple expects to make 10 million fewer iPhone than planned and is poised to slash iPhone production goal due to chip crunch – Bloomberg (watch shares of $AAPL suppliers including $CRUS, $QRVO, $STM, $AVGO, $SWKS) SAP AG ($SAP) raised its 2021 projections for non-IFRS cloud revenue at constant currencies to range from EUR9.4B to EUR9.6B, up from its earlier view of EUR9.3 billion and EUR9.5 billion; also boosts cloud and software revenue at constant currencies view to EUR23.8 billion to EUR24.2 billion from its earlier view of EUR23.6 billion to EUR24 billion. Qualcomm ($QCOM) announces new $10.0 billion stock repurchase authorization IAC Inc. ($IAC) reports September Angi Inc. total revenue up 18% from last year with Dotdash revenue up 25%, and its Search business revenue up 74% from last year and Emerging & Other revenue was up 33% from last year Vimeo Inc ($VMEO) total revenue for September 2021 up 33%; subscribers for September 2021 up 14%; ARPU for September 2021 up 16% Smart Global Holding ($SGH) Q4 adj EPS $2.16 vs. est. $1.60; Q4 revs $467.7M vs. est. $461.3M; sees Q1 adj EPS $1.80-$2.20 vs. est. $1.49; sees Q1 revenue $440M-$480M vs. est. $458.55M; GAAP gross margin of 25.2%, up 620 basis points versus the year ago quarter and non-GAAP gross margin of 26.4%, up 690 basis points versus the year ago quarter VOXX International ($VOXX) 2Q EPS $0.01 vs est. $0.07 on sales $143.1Mm vs est. $134.4Mm
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Thursday, August 5, 2021 Futures Up/Down % Last Dow 55.00 0.16% 34,745 S&P 500 9.25 0.22% 4,404 Nasdaq 33.50 0.22% 15,107 U.S. futures are looking up modestly, rising roughly about 0.2% across the board into one of the heaviest days of corporate earnings of the season, as major averages continue to hold not far off record highs. The S&P 500 index has held the pivotal 4,400 level for over a week now, as overall major averages have moved sideways for two or three weeks now, bolstered by rising on better economic data, earnings results, and an accommodative Fed, which has offset rising Delta variant concerns and fears of further global restrictions to contain the rise in cases and tighter government restrictions in China. Oil prices edge higher after sliding sharply the last 3-days on demand concerns. Bitcoin prices are down about 4% holding just above the $38,000 level while Ethereum slips nearly 4% to 2,600 in the crypto sector. Ahead of tomorrow’s nonfarm payrolls report, investors will get two more labor market data points with the Challenger jobs report at 7:30 and the weekly jobless claims. Euro Stoxx 50 rises 0.5% around best levels for the week. Wednesday’s after-hours big-name earnings were disappointing for the most part, which could weigh on sentiment. Major averages ended the session mixed on Wednesday, following conflicting signals on the economy that showed a hot services sector, but a labor market that continues to struggle to find workers. The Institute for Supply Management survey on Wednesday jumped to a record high of 64.1 in July, but the ADP Employment Report showed private payrolls only rose by 330,000 last month, well shy of the 695,000 estimate ahead of tomorrow’s payrolls. The Dow Jones saw the biggest fall, dragged lower by a decline of more than 6% in Amgen in the wake of its quarterly results, accounting for about 103 points to the downside while energy was the weakest sector on the day, suffering its biggest daily percentage drop since July 19. In Asian markets, The Nikkei Index gained 144 points to 27,728, the Shanghai Index dipped -10 points to 3,466 and the Hang Seng Index declined -221 points (0.84%) to settle at 26,204. In Europe, markets are little changed as the German DAX is up a few points at the 15,700 level, while the FTSE 100 is down a couple of points at 7.120. Market Closing Prices Yesterday The S&P 500 Index slipped -20.49 points, or 0.46%, to 4,402.66 The Dow Jones Industrial Average fell -323.73 points, or 0.92%, to 34,792.67 The Nasdaq Composite edged higher 19.24 points, or 0.13%, to 14,780.53 The Russell 2000 Index declined -27.26 points, or 1.23% to 2,196.32 Events Calendar for Today 7:30 AM ET Challenger Job Layoffs for July 8:30 AM ET Weekly Jobless Claims 8:30 AM EST Continuing Claims 10:30 AM ET Weekly EIA Natural Gas Inventory Data Earnings Calendar: Earnings Before the Open: ABMD, ADNT, AES, AHCO, AKBA, AMRS, ARWR, AVEO, BBGI, BCRX, BDX, BERY, BKI, BLDR, BLL, BV, CAH, CARS, CCOI, CHH, CI, CNP, COMM, CRAI, DDOG, DIN, DLX, DUK, ECOM, EPAM, EPC, EVRG, FOUR, GCP, GNL, GOGO, GOLF, GTN, HBI, HBIO, HII, HL, IDCC, INSM, IRM, IRWD, ITI, K, KPTI, LAMR, LAUR, LNG, LXP, MMS, MPLN, MRNA, MUR, MYE, NINE, NS, NTLA, PCTY, PBH, PBPB, PEI, PENN, PH, PNW, PPL, PRTY, PWR, PZZA, RC, RDUS, REGN, ROLL, SEAS, SSYS, TEN, THS, TRGP, UFS, USPH, VG, VIAC, VST, W, WD, WOW, WRK, XEC, XERS, XTNT, XXII, YETI, ZIXI, ZTS Earnings After the Close: AAOI, AEE, AEL, AIG, AINV, ALRM, ALTR, AMBC, APLE, APPN, ARNA, ASTG, AVLR, AXON, BAND, BECN, BGS, BHF, BIGC, BKD, BL, BRBR, BRKS, BYND, CARG, CDXS, CGNX, CHRS, CHUY, CLNE, CNXN, COLD, CSOD, CVNA, CWK, DBX, DHX, DIOD, EB, ECOR, EGLE, ENTA, ENV, ERII, EXEL, EXPE, FEYE, FLDM, FLS, FND, FOXF, FSR, FTSI, G, GDYN, GEOS, GH, GKOS, GPRO, GRPN, GSBD, HASI, HCAT, HCI, HEAR, HTA, IFF, ILMN, IHRT, IOVA, IRTC, ITT, JCOM, KALA, KAMN, LGF.A, LNT, LOCO, LTHM, MAIN, MDRX, MNST, MP, MSI, MTW, MTZ, NET, NKTR, NVAX, NWSA, NYMT, OLED, OUT, PBYI, PK, PODD, POST, PRA, QDEL, RAMP, RDFN, REZI, RMD, RUN, SFM, SGMO, SHAK, SPCE, SQ, SYNA, TDC, TGH, TMDX, TMST, TRUE, TRUP, TTOO, VLDR, VMEO, VOYA, VV, WSC, Y, YELP, ZEUS, ZG, ZNGA Macro Up/Down Last Nymex 0.37 68.52 Brent 0.26 70.64 Gold 0.40 1,811.75 EUR/USD 0.0005 1.1842 JPY/USD 0.03 109.51 10-Year Note -0.004 1.19% Sector News Breakdown Consumer Boot Barn ($BOOT) Q1 EPS $1.35 vs est. $0.88 in revs $306.3M vs est. $288.9M; same-store sales +78.9% vs 1Q20, +52.3% vs 1Q19; opened 3 new stores in the quarter Costco ($COST) reported total comparable sales for July of +13.8%; July U.S. comparable sales excluding fuel, currencies +8.5% L.F. Beauty ($ELF) 1Q EPS $0.15 vs est. $0.15 on sales $97Mm vs est. $79.3Mm; guides FY adj EPS $0.65-0.68 vs est. $0.67, sees FY sales $356-364Mm vs est. $350.5Mm Etsy Inc. ($ETSY) shares tumble -13% on guidance; 2Q EPS $0.68 vs est. $0.63 on revs $528.9Mm vs est. $524.7Mm, qtrly consolidated GMS $3.0B +13%; guides 3Q revs $500-525Mm vs est. $524.7Mm, sees 3Q GMS $2.9-3.0B Frontdoor Inc. ($FTDR) Q2 EPS $0.76 vs est. $0.63 on revs $462M vs est. $466M, sees Q3 revenue $470M-$480M, lowered FY revenue outlook to $1.6B-$1.62B (est. $1.64B) from $1.63B-$1.65B Jack in the Box ($JACK) Q3 EPS $1.79 vs est. $1.49 on revs $269.5M vs est. $258.5M, same-store sales +10.2%, systemwide sales +10.6%, company-operated same-store sales +9.0%, sees FY21 capex $40M-$45M, FY22 capex $65M-$75M Leslie’s ($LESL) Q3 adj EPS $0.64 vs. est. $0.55; Q3 revs $596.54M vs. est. $570.37M; Q3 comparable sales growth of 23.9%; raises FY21 adjusted EPS view 80c-85c from 75c-80c (est. 77c) and boosts FY21 revs to $1.31B-$1.33B from $1.28B-$1.3B (est. $1.3B); Adjusted EBITDA of $179.3 million compared to $119.8 million in the prior year quarter, an increase of 49.7% MGM Resorts ($MGM) 2Q adj EPS ($0.13) vs est. ($0.30) on net revs $2.3B vs est. $2.28B, MGM China net revs $311Mm, LV Strip net revs $1.0B, regional net revs $856Mm Rent-A-Center ($RCII) 2Q adj EPS $1.63 vs est. $1.35 on revs $1.2B vs est. $1.14B, qtrly comps +16.6% led by e-comm; guides FY revs $4.55-4.67B vs est. $4.56B, sees Rent-A-Center segment revs $2.02-2.06B, sees FY adj EPS $5.90-6.40 vs est. $5.66; announces $250Mm repurchase auth Uber ($UBER) Q2 EPS $0.58 on revs $3.93B vs. est. $3.74B; Q2 gross bookings grew 114% yoy to $21.9 billion, or 104% on a constant currency basis, with Mobility Gross Bookings of $8.6 billion and Delivery Gross Bookings of $12.9 billion; Q2 Adj EBITDA Loss $509M vs. est. loss $324.5M; sees Q3 Adj EBITDA loss below $100M vs. est. loss $95.4M Wynn Resorts (WYNN) 2Q adj EPS ($1.12) vs est. ($1.61) on revs $990.1Mm vs est. $932.5Mm, Wynn Macau revs $184Mm, LV ops revs $355.1Mm ADT Inc. ($ADT) adj EPS ($0.07) vs est. $0.25 on revs $1.304B vs est. $1.28B; Gross recurring monthly revenue (RMR) additions grew 28%; end of period RMR of $352 million increased by 4%; solid customer retention with attrition at 13.3% Driven Brands ($DRVN) 12M share Secondary priced at $29.50 European Wax Center ($EWCZ)6M share IPO priced at $17.00 Weber ($WEBR) 18M (which was cut down from 46.8M) share IPO priced at $14.00 Energy APA Inc. ($APA) Q2 adj EPS $0.70 vs. est. $0.57’ Q2 revs $1.75B vs. est. $1.46B; qtrly adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 342,000 boe per day; at current strip prices, we expect to generate approximately $1.7B of free cash flow this year Earthstone Energy ($ESTE) files for offering of up to 6.2 mln shares of class a common stock by selling stockholders Marathon Oil ($MRO) Q2 EPS $0.22 vs. est. $0.15; Q2 revs $1.14B vs. est. $1.09B; Q2 oil-equivalent production of 348,000 net boed; raising 2021 full year oil-equivalent production guidance by 5,000 net boed; Q2 oil production of 170,000 net bopd; raised quarterly base dividend by 25% to 5c; raising the midpoint of its 2021 full year U.S. oil-equivalent production guidance by 5,000 net boed Warrior Met Coal ($HCC) 2Q adj EPS $0.25 vs est. ($0.18) on revs $227.4Mm vs est. $128.3Mm; not providing FY guide at this time Whiting Petroleum ($WLL) Q2 adj EPS $3.01 vs. est. $1.97; Q2 revs $352M vs. est. $244.27M; said generated net cash provided by operating activities of $183M and $111M in adjusted free cash flow during the quarter and over $200 million through six months; raises FY21 production view to 88-92 MBOE per day from 82-88 Financials Allstate Corp. ($ALL) Q2 adj EPS $3.79 vs. est. $3.04; Q2 revs $12.65B vs. est. $10.51B; announces new $5B repurchase program; 2Q Book Value Per Shr $86.33; Q2 Catastrophe Loss $952M; Q2 Property-Liability Premiums Earned $10.01B; 2Q Property-Liability Premiums Written $10.32B;2Q Property-Liability Combined Ratio 95.7 Fleetcor ($FLT) Q2 EPS $2.30 vs est. $2.94, adj EPS $3.15, on revs $667.4M vs est. $637.3M; its board increased its share repurchase authorization by$1B; sees Q3 adj EPS $3.35-$3.55 vs est. $3.36, and raised outlook for FY adj EPS to $12.80-$13 (est. $12.61) from $12.32-$12.88 and FY revs to $2.74B-$2.79B (est. $2.68B) from $2.6B-$2.7B Lemonade ($LMND) Q2 EPS loss (-$0.90) vs. est. loss (-$0.89); Q2 revs $28.2M vs. est. $26.8M; customer count increased by 48% to 1,206,172 yoy; premium per customer, defined as in force premium divided by customers, was $246 at the end of the second quarter, up 29% yoy; raises FY21 revenue view to $123M-$125M from $117M-$120M (est. $118.94M); narrows FY21 adjusted EBITDA view to ($173M)-($169M) from ($173M)-($163M) Lincoln National ($LNC) Q2 adj operating EPS $3.17 vs. est. $2.35; Q2 revs $4.85B vs. est. $4.72B; Reports book value per share, including AOCI, of $115.00, up 7%; BVPS, excluding AOCI, of $75.45, up 9% MetLife ($MET) announces new $3B share repurchase authorization; Q2 adj EPS $2.37 vs. est. $1.57; Q2 revs $18.52M vs. est. $15.77B; qtrly premiums, fees & other revenues $11.22 bln vs $10.49 bln; qtrly net investment income $5.28 bln vs $4.09 bln; book value of $75.86 per share at qtr-end, down 4% from $78.65 per share at June 30, 2020 RE/MAX Holdings ($RMAX) 2Q adj EPS $0.63 vs est. $1.31 on revs $77.2Mm vs est. $76.4Mm; guides 3Q revs $86.5-91.5Mm vs est. $79.1Mm; sees FY revs $321-336Mm vs est. $308.7Mm Western Union (WU) Q2 adj EPS $0.48 vs. est. $0.47; Q2 revs $1.3B vs. est. $1.26B; reaffirms FY21 adj EPS view $2.00-$2.10 vs. est. $2.06; reaffirms FY21 revenue growth view mid-to-high single digits; Consumer-to-Consumer (C2C) transactions increased 15% in the quarter, while revenues increased 15% on a reported basis, or 12% constant currency. Robinhood ($HOOD) filed with the SEC a prospectus related to the offer and sale from time to time of up to 97,876,033 shares of Class A common stock of Robinhood Markets, Inc. by certain selling stockholders
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Im doing VST as lotto small size and 20 strike
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Quick question @ivtrades-Chris on the $FSLR, $GOLD and $VST trades using the underlying price, is the stop a hard stop or since these were based on UOA are you giving them time. Will you give a sell notice on these or are the stops and target sufficient on these trades.
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It's currently down about 70%, hasn't hit the stop or target yet > @matthewtherrien said: What happened with Chris' VST Call last week - thanks
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What happened with Chris' VST Call last week - thanks
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stock moving up slightly vst
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OI on VST (sep) 21 calls down to 20,300 from 53,300. is that not good?
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filled in vst
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VST is a nice play
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looking for a VST fill
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you need to get a lot of VST right?
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I bagged the 20s earlier at .77 VST
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BUY TO OPEN $VST SEP 18th 2020 21.00 CALLS @ .70 STOP @ 18.60 on the underlying stock EXIT @ 22.20 on the underlying stock NOTE: There was some small repeat UOA in this power producer earlier today and the technical picture also looks interesting as it is forming a tight wedge on the daily time frame. Let;s take a trade here and see how it plays out. I am placing the stops and the exits on the underlying because the premium is low which makes it tricky to calculate stops and targets on the options themselves. I will send the alert when it is time to exit.
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Vistra Energy Corporation is a leading, Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive residential electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, the company is a large purchaser of wind power. The company is currently constructing a 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world.
CEO: Curtis Morgan
HQ: 6555 Sierra Dr Irving, 75039 Texas