CAPIS Morning Note – 5/08/24: Stocks Are Lower, Uber Misses

• 10-Year Auction at 1:oo p.m.
• Several Fed Speakers today.

• IPOs For The Week: .
• New SPACs launched/News:
• Secondaries Priced:
• Notes Priced of note:
  • WPC prices 650 million pounds offering of Senior Unsectured Notes
  • GTX prices $800 million of Senior Noted due 2032
• Common Stock filings/Notes:
  • AVA files a 3,305,541 offering of common stock
  • CXDO files a $75 million common stock offering
  • DLR files a 10.500,000 common stock offering
  • MAX files 6,000,000 common stock offering
• Direct Offering:
• Exchangeable Subordinate Voting Shares:
• Selling Shareholders of note:
  • CGC files 1,086,279 common stock offering by a selling shareholders.
  • SLN files 4,643,608 shares of common stock by selling shareholders.
  • CXDO files a 3,500,000 offering of common stock by selling shareholders.
• Debt/Credit Filing and Notes:
  • FBIN files debt securities
• Mixed Shelf Offerings:
  • EGNB files $150 million mixed-shelf offering files a mixed-shelf offering
  • PRO files a $200 million mixed-shelf offering
  • MYE files a $400 million mixed-shelf offering
  • MDGL files a mixed-shelf offering
  • OST files a $200 million mixed-shelf offering
  • files a mixed-shelf offering
• Tender Offer:
• Private Placement of Public Entity (PIPE)
• Rights Offering:
• Convertible Offering & Notes Filed:

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

• Movers of Note:
  • ODD +13.4%, RDDT +12.6%, CRUS +11.4%, POWI +11.2%, GMED +10.9%, INTA +9.2%, RNG +9.2%
  • TMCI -46%, DV -36.5%, GO -18%, INSP -16.2%, ZI -14.2%
• News Items After the Close:
  • Tik Tok sues the U.S. government. (NYT)
  • Dutch Bros (BROS) avoid Starbucks weak sales. (MarketWatch)
  • Redditt (RDDT) puts up strong number in first report since going public. (Yahoo Finance)
• Buyback Announcements or News
  • EA announces a $5 billion buyback program through 2027.
  • repurchase program.
• Exchange/Listing/Company Reorg and Personnel News
  • .
• Stock Splits or News:
  • .
• Dividends Announcements or News:
  • PR increases quarterly dividend to $0.06 from $0.05.
  • WTS increases quarterly dividend to $0.43 from $0.36.
  • ASH increases quarterly dividend to $0.405 from $0.385.

What's Happening This Morning: Futures value reflects the change with fair value.

Sector Action - (1/3/6/12/YTD Updated Weekly with Monday release):

• Daily Positive Sectors: Consumer Defensive, Utilities, Communication Services and Healthcare of note.
• Daily Negative Sectors: Consumer Cyclical and Technology of note.
• One Month Winners: Consumer Defensive, Communication Services, and Utilities of note.
• Three Month Winners: All but Real Estate led by Energy, Materials and Communication Services of note.
• Six Month Winners: Communication Services, Technology, Industrials and Financials of note.
• Twelve Month Winners: Communication Services, Technology, Financials, Industrials, and Consumer Cyclicals of note.
• Year to Date Winners: Communication Services, Energy, Technology, Financials, Industrials, and Technology, Consumer Defensive of note.

Upcoming Earnings Of Note:

• Gap Up: RDDT +14.7%, RNG +13.9%, LPX +13.7%, KD +13.1%, CFLT +12.8%, CRCT +12.1%, LAZR +11.5%, CRUS +11.4%, POWI +11.2%, GMED +11%, ODD +11%, OLO +10.7%, NVRO +9.2%, INTA +9.2%, BROS +9.1%, ANET +7.9%, BL +7.2%, LYFT +7.2%, WTS +7%, PERI +6.7%, PUBM +6.2%, MYGN +6.2%, ANGI +5.8%, MQ +5.5%, AGL +5.4%, DCGO +5.3%, TOST +5.3%, BUD +5%, AMRC +4.9%, GPRO +4.3%, CTMX +4.2%, ACMR +4.1%, SUZ +3.8%, NRDY +3.8%, VCYT +3.7%, ENV +3.6%, ENLT +3.5%, HASI +3.1%, DO +2.8%, MGY +2.7%, VECO +2.7%, MFC +2.5%, EGY +2.5%, AIZ +2.1%, INGN +2.1%, CRC +2.1%, WYNN +2% of note.
• Gap Down: TMCI -54.9%, DV -39%, ZI -22.6%, INSP -17.4%, SHLS -15.8%, GO -15.2%, FLYW -14.3%, LZ -13.7%, AMRK -12.6%, MAX -12.5%, UPST -11.9%, DH -11.9%, ATEC -11.6%, ANDE -10.9%, OPK -10%, CDRE -9.8%, TWLO -7.1%, OCUL -6.7%, ALAB -6.5%, UBER -6.15%, CPNG -6%, MTCH -5.6%, RGR -5%, JANX -5%, CRSR -4.9%, CMP -4.8%, RPD -4.8%, RIVN -4.7%, UIS -4.7%, USPH -4.4%, ICHR -4.3%, RRR -4.3%, CERT -3.8%, STAA -3.5%, EA -3.5%, DLR -3.3%, ASTH -3.3%, SONO -3.3%, RVLV -3.1%, SPCE -3%, EVRI -3%, EGBN -2.8%, VIV -2.7%, MRCY -2.4%, KMT -2.4%, IRS -2.1%of note.

Insider Action: HUBB CZR WSC sees Insider buying with dumb short selling. Today sees CTRN with Insider buying with smart short sellers.

Rags & Mags: Repeated stories from prior days never listed, i.e. "rehashed news". Sorted by Global, U.S. and stock specific.

• 5 Things To Know Before The Market Opens On Wednesday. (CNBC)
• What You Need To Know To Start Your Day. (Bloomberg)
• Stocks Making the Biggest Moves: (CNBC)
• Bloomberg Lead Story: U.S. Pauses Arms Shipments to Israel. (Bloomberg)
• Weekly mortgage refinance demand rose 5%. (CNBC).
• Stock rally hits the wall after earnings disappoint: Markets Wrap. (Bloomberg)
• Uber beats on revenues but moves back to a net loss, stock lower. (CNBC)
• Bloomberg Daybreak Podcast: . (Podcast)
• Bloomberg Big Take Podcast: Americans are racking up "phantom debt". (Podcast)

Moving Average Update: Score remains at 100%.

Geopolitical:

M&A Activity and News:

• None of note.

Top Tier Sell-side Upgrades & Downgrades:

The recommendations listed below in this "Upgrade/Downgrade" section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.

Today's Upgrades and Downgrades: