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26/10/21 Briefing

The S&P 500 futures trade 26 points, or 0.6%, above fair value in fresh record territory, as the market continues to latch onto good earnings news and positive momentum. The benchmark index has closed higher in eight of the last nine sessions.

Briefly, Facebook (FB 335.00, +6.31, +1.9%), 3M (MMM 182.15, -0.25, -0.1%), UPS (UPS 216.00, +12.10, +5.9%), and General Electric (GE 106.72, +1.42, +1.4%) each beat EPS estimates while Eli Lilly (LLY 247.00, +1.95, +0.8%) topped revenue estimates.

Facebook also increased its share buyback program by $50 bln, further helping outweigh its miss revenue miss and downside Q4 revenue guidance, which reflected iOS privacy changes/macro-related headwinds. Microsoft (MSFT 310.27, +2.14, +0.7%) and Alphabet (GOOG 2817.42, +41.96, +1.5%) will report after today's close.

On the data front, investors will receive the FHFA Housing Price Index for August and the S&P Case-Shiller Home Price Index for August (Briefing.com consensus 20.0%) at 9:00 a.m. ET. Afterwards, the Consumer Confidence Index for October (Briefing.com consensus 108.0) and New Home Sales for September (Briefing.com consensus 755,000) will be released at 10:00 a.m. ET.

U.S. Treasuries trade mixed and little changed. The 2-yr yield is up one basis point to 0.44%, and the 10-yr yield is down two basis points to 1.62%. The U.S. Dollar Index is down 0.1% to 93.74. WTI crude futures are up 0.4% to $84.05/bbl.

In U.S. Corporate news:

  • Facebook (FB 335.00, +6.31): +1.9% after beating EPS estimates on below-consensus revenue and increasing its share buyback program by $50 bln. The company guided Q4 revenue below consensus, reflecting "significant uncertainty" from continued headwinds from Apple's iOS changes and macroeconomic/COVID-related factors.

  • 3M (MMM 182.15, -0.25): -0.1% despite beating top and bottom-line estimates and narrowing its FY21 guidance.

  • UPS (UPS 216.00, +12.10): +5.9% after beating top and bottom-line estimates and raising its 2021 operating margin guidance.

  • Eli Lilly (LLY 247.00, +1.95): +0.8% after beating revenue estimates, although it missed EPS estimates on more taxes paid than expected.

  • General Electric (GE 106.72, +1.42): +1.4% after beating EPS estimates on below-consensus revenue and raising its FY21 EPS in-line with expectations.

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Japan's Nikkei: +1.8% Hong Kong's Hang Seng: -0.4% China's Shanghai Composite: -0.3% India's Sensex: +0.6% South Korea's Kospi: +0.9% Australia's ASX All Ordinaries: +0.1%.

  • In economic data:

  • Japan's August Corporate Services Price Index 0.9% yr/yr (expected 1.1%; last 1.0%). September BoJ Core CPI 0.6% yr/yr (last 0.3%)

  • South Korea's Q3 GDP 0.3% qtr/qtr (expected 0.6%; last 0.8%); 4.0% yr/yr (expected 4.2%; last 6.0%)

  • Singapore's September Industrial Production -2.8% m/m (expected 0.3%; last 5.6%); -3.4% yr/yr (expected -0.5%; last 11.0%)

  • Hong Kong's September trade deficit HKD42.40 bln (last deficit of HKD26.30 bln). September Imports 23.5% m/m (last 28.1%) and Exports 16.5% m/m (last 25.9%)


  • In news:

  • Chinese developer Modern Land did not repay a $250 mln dollar-denominated bond that matured on Monday, triggering a default.

  • The Bank of Japan extended its FX swap agreement with China by three years.

  • Japan's Prime Minister Kishida said that economic proposals will be drafted in November. SK Hynix reported its best Q3 profit in three years.

  • South Korea's oil tax will be lowered by 20% for six months.



  • Major European indices trade in the green. STOXX Europe 600: +0.5% Germany's DAX: +0.9% U.K.'s FTSE 100: +0.6% France's CAC 40: +0.7% Italy's FTSE MIB: +0.5% Spain's IBEX 35: +1.0%.

  • In economic data:

  • U.K.'s October CBI Distributive Trades Survey 30 (expected 13; last 11)

  • Spain's September PPI 23.6% yr/yr (last 18.0%)


  • In news:

  • The U.K. is expected to increase salaries of government workers and raise the national living wage to GBP9.50/hr from GBP8.91/hr.

  • France will reportedly slow down customs checks on goods entering from the U.K. ahead of the holidays in retaliation for the ongoing fishing dispute.

  • Germany's economy ministry lowered the domestic growth forecast for 2021 to 2.6% from 3.5% and raised the outlook for 2022 to 4.1% from 3.6%.

  • UBS reported better than expected results.





U.S. equity futures:

  • S&P 500 Futures: +18 @ 4,584

  • DJIA Futures: +99 @ 35,840

  • Nasdaq 100 Futures: +87 @ 15,601

Overseas:

  • Europe: DAX +0.9%, FTSE +0.6%, CAC +0.7%

  • Asia: Nikkei +1.8%, Hang Seng -0.4%, Shanghai Composite -0.3%

Commodities:

  • Crude Oil +0.30 @ 84.06

  • Nat Gas -0.106 @ 5.950

  • Gold -2.45 @ 1804.35

  • Silver -0.144 @ 24.448

  • Copper -0.0125 @ 4.5105

U.S. Summary:

  • Earnings/Guidance (Full Earnings Calendar):

  • 3M (MMM) beats by $0.22, beats on revs; narrows FY21 guidance

  • AGNC Investment (AGNC) beats by $0.10, misses on revs

  • Albany Intl (AIN) beats by $0.12, beats on revs, raises FY21 EPS and revenue guidance

  • Alexandria RE (ARE) beats by $0.02, beats on revs; guides FY21 FFO below consensus

  • American Campus Communities (ACC) reports Q3 (Sep) results, beats on revs; guides FY21 FFO in-line

  • Amkor (AMKR) beats by $0.04, misses on revs; guides Q4 EPS in-line, revs in-line

  • Arch Coal (ARCH) misses by $0.72, beats on revs

  • Archer-Daniels (ADM) beats by $0.08, beats on revs

  • Armstrong World Industries (AWI) misses by $0.11, reports revs in-line; raises FY21 EPS in-line, revs in-line

  • Asbury Automotive (ABG) beats by $1.00, beats on revs

  • Audiocodes (AUDC) reports in-line results; beats on revs

  • Axalta Coating Systems (AXTA) beats by $0.05, reports revs in-line

  • BancorpSouth (BXS) misses by $0.01, net interest revenue increased 3.2% yr/yr

  • Brandywine Realty (BDN) reports Q3 (Sep) results, revs in-line; guides FY21 FFO in-line

  • Brown & Brown (BRO) beats by $0.05, beats on revs

  • Cadence Bancorp (CADE) beats by $0.17, beats on revs

  • Cadence Design (CDNS) beats by $0.05, beats on revs; guides Q4 EPS above consensus, revs in-line

  • Calix Networks (CALX) beats by $0.07, beats on revs; guides Q4 EPS in-line, revs above consensus

  • Cathay Bancorp (CATY) beats by $0.02, reports revs in-line

  • Celestica (CLS) beats by $0.03; misses on revs, sees Q4 EPS above expectations, revs in-line

  • Centene (CNC) beats by $0.03, beats on revs; guides FY21 EPS in-line, revs above consensus

  • Corning (GLW) misses by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs in-line

  • Crane (CR) beats by $0.53, beats on revs; guides FY21 EPS above consensus, revs above consensus; announces new $300 mln share repurchase authorization

  • Crown (CCK) beats by $0.06, reports revs in-line; raises FY21 EPS guidance

  • Dana Inc (DAN) misses by $0.05, beats on revs; guides FY21 EPS below consensus, revs above consensus

  • Eli Lilly (LLY) misses by $0.02, beats on revs; raises FY21 EPS in-line, revs in-line

  • Entegris (ENTG) beats by $0.05, reports revs in-line; guides Q4 EPS in-line

  • Facebook (FB) beats by $0.04, misses on revs; guides Q4 revs below consensus, outlook reflects "significant uncertainty" from continued headwinds from Apple's iOS changes, macroeconomic/COVID-related factors

  • General Electric (GE) beats by $0.13, misses on revs; raises FY21 EPS in-line

  • Graphic Packaging (GPK) beats by $0.03, misses on revs

  • Greenbrier (GBX) beats by $0.22, misses on revs, also announces CEO transition

  • Hasbro (HAS) beats by $0.26, reports revs in-line; guides FY21 revs in-line

  • HealthStream (HSTM) beats by $0.04, beats on revs; guides FY21 revs in-line

  • Heartland Financial (HTLF) beats by $0.04

  • Heidrick & Struggles (HSII) beats by $0.36, beats on revs, issues upside Q4 revenue guidance

  • Hope Bancorp (HOPE) beats by $0.03, interest income increased 2% qtr/qtr

  • Hubbell (HUBB) misses by $0.13, misses on revs; guides FY21 EPS below consensus, raises revs mostly above consensus

  • Independent Bank Group (IBTX) misses by $0.08

  • InMode (INMD) beats by $0.05, beats on revs; guides FY21 EPS above consensus, revs above consensus

  • Inter Parfums (IPAR) reports prelim Q3 revs above consensus, sees Q4 revs below consensus

  • Invesco (IVZ) beats by $0.04, beats on revs

  • JetBlue Airways (JBLU) beats by $0.06, beats on revs

  • John B. Sanfilippo & Son (JBSS) beats single analyst estimate by $0.27, beats on revs

  • Lockheed Martin (LMT) reports Q3 results, misses on revs; guides FY21 EPS above consensus, revs below consensus; guides FY22 revs below consensus

  • Logitech Int'l SA (LOGI) beats by $0.13, beats on revs; reaffirms FY22 revs guidance

  • Luxfer (LXFR) reports EPS in-line, revs in-line; guides FY21 EPS below consensus

  • MarineMax (HZO) beats by $0.28, misses on revs; guides FY22 EPS above consensus

  • Medpace (MEDP) beats by $0.15, beats on revs; guides FY21 EPS below two analyst estimate, revs in-line; guides FY22 revs above consensus

  • MSCI (MSCI) beats by $0.10, beats on revs

  • Novartis AG (NVS) beats by $0.07, reports revs in-line; reaffirms FY21 revs guidance

  • Oasis Petroleum (OAS) provides financial and operational update for Q3

  • O-I Glass (OI) beats by $0.06, reports revs in-line; guides Q4 EPS in-line

  • Packaging Corp (PKG) beats by $0.35, beats on revs

  • Pentair (PNR) beats by $0.05, beats on revs; guides Q4 EPS in-line, revs in-line; guides FY21 EPS in-line, revs below consensus

  • Polaris Industries (PII) beats by $0.02, misses on revs; guides FY21 EPS below consensus, revs below consensus

  • PotlatchDeltic (PCH) beats by $0.16, beats on revs

  • PulteGroup (PHM) beats by $0.03, beats on revs

  • Raytheon Technologies (RTX) beats by $0.17, misses on revs; raises FY21 EPS guidance above consensus, issues downside revenue guidance

  • RenaissanceRe (RNR) misses by $0.21, gross premiums written increased 55%

  • S&P Global (SPGI) beats by $0.39, beats on revs; raises FY21 EPS above consensus

  • Sensata Tech (ST) beats by $0.04, beats on revs; guides Q4 EPS below consensus, revs below consensus

  • Sherwin-Williams (SHW) beats by $0.04, beats on revs; reaffirms FY21 EPS guidance

  • Shutterstock (SSTK) beats by $0.12, beats on revs; raises FY21 EPS above consensus, revs above consensus

  • Simpson Manufacturing (SSD) misses by $0.07, misses on revs

  • Simulations Plus (SLP) beats on AugQ earnings and revs; issues upside FY22 revenue guidance

  • The Aaron's Company (AAN) beats by $0.26, beats on revs; raises FY21 revenue guidance above consensus

  • TransUnion (TRU) beats by $0.08, beats on revs; guides Q4 EPS in-line, revs in-line; guides FY21 EPS above consensus, revs above consensus

  • TriNet Group (TNET) reports Q3 (Sep) results; guides Q4 EPS below consensus

  • Triton International (TRTN) beats by $0.24, reports revs in-line

  • TrueBlue (TBI) misses by $0.01, beats on revs

  • Turning Point Brands (TPB) reports Q3 (Sep) results, misses on revs; guides FY21 revs below consensus

  • UBS AG (UBS) beats by $0.18, beats on revs

  • Unifi (UFI) reports Q1 (Sep) results, beats on revs; guides Q2 and FY22 revs above consensus

  • Universal Health (UHS) misses by $0.09, beats on revs

  • UPS (UPS) beats by $0.16, beats on revs; raises 2021 op. margin guidance

  • Waste Mgmt (WM) misses by $0.10, beats on revs; guides FY21 revs above consensus

  • Xerox (XRX) beats by $0.05, misses on revs; guides FY21 revs below consensus, reaffirms free cash flow guidance, approves additional $500 mln share repurchase program


  • General News:

  • Democrats think reconciliation bill will be near lower end of $1.75-1.90 trillion. Senator Joe Manchin (D-WV) is optimistic about agreement this week, but he says he is against Medicare and Medicaid expansion, key priorities of progressives, according to the Washington Post

  • Democrats plan to narrow drugs that can negotiated under Medicare in reconciliation bill, according to the New York Times

  • Congressional lawmakers are mulling new rules for artificial intelligence software used by social media companies, according to Bloomberg

  • FDA Advisory Committee will rule this afternoon on coronavirus vaccine for kids 5-11, according to The Hill

  • NYC police union files lawsuit over vaccine mandate as protests continue, according to the New York Times

  • 4D Molecular Therapeutics (FDMT) Reports Interim Results from the 4D-310 Phase 1/2 Clinical Trial in Patients with Fabry Disease and Provides Clinical Data Update from the 4D-110 Phase 1/2 Clinical Trial in Patients with Choroideremia

  • Akebia Therapeutics (AKBA) issues statement regarding litigation against Centers for Medicare & Medicaid Services and the US

  • Amazon (AMZN) AWS will host top-secret material for UK spy agencies, according Financial Times

  • American International (AIG) appoints Shane Fitzsimons as next CFO

  • AnaptysBio (ANAB) announces agreement with Sagard to monetize portion of JEMPERLI royalties for $250 mln

  • Apple (AAPL) will likely face DOJ antitrust investigation, according to The Information

  • Axcella Health (AXLA) announces a new clinical program to investigate AXA1125 as a potential treatment for patients with Long COVID, a complex condition also known as Post COVID-19 Condition and Post-Acute Sequelae of COVID-19

  • Babcock & Wilcox Enterprises (BW) announce conclusion of SEC investigation

  • Bicycle Therapeutics (BCYC) announces expansion of Genentech immuno-oncology collaboration

  • Cognizant Tech (CTSH) announces a new business engagement with Cabot Corporation (CBT) to help the company transform its digital operating model

  • ComScore (SCOR) appoints Jon Carpenter as CFO

  • Digital Realty Trust (DLR) forms joint venture to acquire Medallion Data Centres; terms not indicated

  • Geron (GERN) announces new Innovative Licensing and Access Pathway in the UK for imetelstat

  • International Seaways (INSW) refinances six vessels

  • Joby Aviation (JOBY) announces simplification of corporate structure

  • Kansas City Southern (KSU) announces collaboration with Suministros Industriales Potosinos and TransDevelopment Group to develop the Central Bajo Vehicle Distribution Center

  • Lucira Health (LHDX) announced that its LUCIRA CHECK IT COVID-19 Test Kit, a self-administered PCR quality, single-use, at home molecular diagnostic test for COVID-19, is again available for online purchase

  • Moderna (MRNA): EMA CHMP recommends booster dose for people 18+

  • Moderna (MRNA) secures MOU to supply up to 110 mln doses of Its COVID-19 vaccine to the African Union

  • Ocugen (OCGN): WHO advisory group will meet on Oct 26 to consider emergency use listing of India's vaccine, Covaxin, according to TribuneIndia.com

  • Progenity (PROG) reduces outstanding debt by $20.175 mln through a private exchange of $20.175 mln of its 7.25% convertible senior notes due 2025 for shares of common stock

  • Provention Bio (PRVB) announces positive interim results from PROVENT PRV-101 as vaccine for five coxsackievirus B strains

  • Seres Therapeutics (MCRB) presents late-breaking data from its Phase 3 ECOSPOR III study evaluating SER-109

  • Spire Global (SPIR) has appointed Theresa Condor to Chief Operating Officer

  • SQZ Biotechnologies (SQZ): DSMB recommends Phase 1/2 clinical trial SQZ-PBMC-HPV-101 advance into the combination stage with checkpoint inhibitors

  • Tesla (TSLA): NTSB is deeply concerned by Tesla's inaction to fix AutoPilot, according to TheVerge

  • The Shyft Group (SHYF) Utilimaster secures $53 million add-on truck body contract from United States Postal Service

  • Tremor (TRMR) announced a global and exclusive strategic partnership with VIDAA, a smart TV operating system and content platform preinstalled on most TVs manufactured by Hisense

  • Unum Group (UNM) announces $250 mln share repurchase authorization

  • WestRock (WRK) announces that Ward Dickson will retire as executive vice president and chief financial officer, effective November 30, 2021


  • M&A:

  • Analog Devices (ADI) agrees to sell Symeo Radar Division to indie Semiconductor (INDI)

  • Crestwood Equity Partners (CEQP) and Oasis Midstream Partners LP (OMP) have entered into a definitive merger agreement under which Crestwood will acquire Oasis Midstream in an equity and cash transaction valued at ~$1.8 bln including the assumption of debt

  • Dana (DAN) terminates agreement to acquire light-vehicle thermal business from Modine Manufacturing (MOD)

  • Hubbell (HUBB) agrees to sell Commercial and Industrial Lighting business to GE Current for $350 mln

  • Hydrofarm Holdings (HYFM) to acquire Innovative Growers Equipment, to be accretive; announces prelim Q4 results, updates FY21 guidance

  • Sibanye-Stillwater (SBSW) acquires Santa Rita nickel mine and the Serrote copper mine in Brazil

  • TransUnion (TRU) has signed a definitive agreement to acquire Sontiq for $638 mln; signed a definitive agreement to sell TransUnion Healthcare to nThrive


  • Syndicate:

  • BankUnited (BKU) files mixed securities shelf offering

  • Casper Sleep (CSPR) files for $150 mln mixed securities shelf offering

  • Clarus (CLAR) announces offering of 2.75 mln shares of common stock

  • Laredo Petroleum (LPI) files for 959,691 share common stock offering by selling shareholders

  • OneMain Holdings (OMF) commences proposed secondary public offering of 10,010,208 shares of common stock by an entity managed by affiliates of Apollo Global Management (APO)

  • Two Harbors Investment (TWO) commences public offering of 30.0 mln common shares

  • Vitru (VTRU) files for $400 mln mixed securities shelf offering; also files for 23,538,503 share common stock offering by selling shareholders


  • IPOs:

  • Expected to Price:

  • Candela Medical (Nasdaq: CDLA): The provider of advanced medical device solutions for a broad range of aesthetic applications is expected to price its 14.7 M share IPO between $16-$18.

  • Ensemble Health Partners (NYSE: ENSB): The provider of technology-enabled revenue cycle management solutions for health systems is expected to price its 29.5 M share IPO between $19-$22.

  • Fluence Energy (Nasdaq: FLNC): The provder of energy storage products and services and digital applications for renewables and storage is expected to price its 31.0 M share IPO between $21-$24.

  • Global Foundries (Nasdaq: GFS): The leading semiconductor foundry is expected to price its 55.0 M share IPO between $42-$47.

  • HireRight (NYSE: HRT): The global provider of technology-driven workforce risk management and compliance solutions is expected to price its 22.2 M share IPO between $21-$24.

  • Informatica (NYSE: INFA): The pioneer of a new category of software, the Intelligent Data Management Cloud, an AI-powered platform that connects, manages and unifies data across any multi-cloud, hybrid system, is expected to price its 29.0 M share IPO between $29-$32.

  • LianBio (Nasdaq: LIAN): The biopharmaceutical company developing medicines for patients with unmet medical needs, with an initial focus on in-licensing assets for Greater China, is expected to price its 20.3 M share IPO between $15-$17.

  • Rent the Runway (Nasdaq: RENT): The developer of the world's first and largest shared designer closet with over 18,000 styles by over 750 designer brands is expected to price its 15.0 M share IPO between $18-$21.

  • Solo Brands (NYSE: DTC): The Direct-to-Consumer platform that operates four premium outdoor lifestyle brands-Solo Stove, Oru Kayak, ISLE Paddle Boards, and Chubbies apparel -- is expected to price its 12.9 M share IPO between $14-$17.

  • Sonendo (NYSE: SONX): The commercial-stage medical technology company focused on saving teeth from tooth decay is expected to price its 7.8 M share IPO between $15-$17.

  • Udemy (Nasdaq: UDMY): The operator of a two-sided marketplace where instructors develop content to meet learner demand is expected to price its 14.5 M share IPO between $27-$29.



Gapping Up/Down

  • Gapping up:

  • OCGN +23.6%, ANAB +12.9%, CDMO +11.3%, MEDP +10.7%, UFI +10.6%, AMKR +7.8%, HSII +6.1%, FDMT +5.6%, TNET +5.6%, SBSW +3.6%, TRU +3.5%, FB +2.7%, ARE +2.7%, CR +2.7%, BRO +2.5%, UPS +2.5%, UNM +2.1%, NVS +2.1%, GERN +2%, AUDC +1.9%, PKG +1.6%, AMZN +1.5%, IPAR +1.5%, AKBA +1.4%, AXTA +1.2%, HTLF +1.1%, JOBY +1%, BW +0.9%, PCH +0.9%, CCK +0.9%, MRNA +0.8%, ACC +0.7%, JBSS +0.7%, CLS +0.7%, LPI +0.6%, UBS +0.6%, INDI +0.5%, KSU +0.5%, HOPE +0.5%


  • Gapping down:

  • LOGI -7.3%, CLAR -5.5%, TBI -5.2%, TWO -3.3%, UHS -2.8%, RNR -2.7%, PII -2.6%, MOD -2.5%, ORAN -2.2%, CNC -1.4%, CALX -1.3%, CSPR -1%, CDNS -0.9%


Analyst Research (see Upgrades/Downgrades calendar for full list):

  • Upgrades

  • Bally's Corporation (BALY) upgraded to Outperform from Market Perform at Cowen; tgt $75

  • Coty (COTY) upgraded to Buy from Hold at Deutsche Bank; tgt $11

  • Envista (NVST) upgraded to Buy from Neutral at BofA Securities; tgt lowered to $48

  • The RealReal (REAL) upgraded to Outperform from Mkt Perform at Raymond James; tgt $19


  • Downgrades:

  • Beyond Meat (BYND) downgraded to Underperform from Neutral at Credit Suisse; tgt lowered to $75

  • Carrol's Restaurant Group (TAST) downgraded to Mkt Perform from Outperform at Raymond James

  • Intel (INTC) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $52

  • Kimberly-Clark (KMB) downgraded to Hold from Buy at Berenberg; tgt lowered to $127

  • LHC Group (LHCG) downgraded to Market Perform from Outperform at Cowen; tgt lowered to $150

  • Restaurant Brands Int'l (QSR) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $63


  • Others:

  • Academy Sports + Outdoors (ASO) initiated with an Outperform at Wedbush; tgt $54

  • Coinbase Global (COIN) initiated with a Buy at Citigroup; tgt $415

  • Medical Properties Trust (MPW) initiated with a Strong Buy at Raymond James; tgt $25

  • TDCX (TDCX) initiated with a Buy at Goldman; tgt $30.30


Upcoming Events:

  • Econ Data:

  • 09:00 ET: FHFA Housing Price Index for August (Briefing.com Consensus NA; Prior 1.4%)

  • 09:00 ET: S&P Case-Shiller Home Price Index for Aug (Briefing.com Consensus 20.0%; Prior 19.9%)

  • 10:00 ET: Consumer Confidence for Oct (Briefing.com Consensus 108; Prior 109.3)

  • 10:00 ET: New Home Sales for Sep (Briefing.com Consensus 755K; Prior 740K)


  • Earnings

  • Monday (Oct 25)

  • Morning: AUB BOH CBU DORM FBP HNI KMB LKFN LII OTIS QSR SITC

  • Afternoon: AGNC ARE ACC AMKR AXTA BXS BDN BRO CADE CDNS CALX CATY CR CCK FB HSTM HTLF HOPE IBTX LOGI LXFR MEDP NWE OI PKG PCH RNR SSD TNET TBI UHS


  • Tuesday (Oct 26)

  • Morning: MMM ARCH ADM ARCC AWI ABG CNC CIT CVLT GLW DAN ECL LLY ENTG FELE GE GPK GBX HAS HUBB INMD IVZ JBLU LMT HZO MSCI NVS PCAR PNR PII PHM RTX SPGI ST SHW SSTK SFNC SBSI AAN TRU TRTN TPB UBS UPS WM XRX

  • Afternoon: ACCO AMD AGYS GOOG AMP APAM AGR BXP BYD CHRW COF CB CSGP DLR EGP WIRE ENPH EQR ESS FFIV FCF FIBK FBHS FCPT HA HIW HPP IEX JNPR LBRT LFUS MANH MASI MTDR MSFT NAVI NCR NOV PFG QS RRC ROIC HOOD TENB TER TXN TRMK TWTR UDR UMBF VBTX V WSBC


  • Wednesday (Oct 27)

  • Morning: AMG ALKS APH AIT ARES ADP AVY BXMT BA BSX BCO BMY BG CAMT CHEF CME KO CSTM CTS DRVN DTE DT EVR FISV GRMN GD GM ROCK HOG HES HLT IP KHC MAS MCD MNRO NYCB NSC ODFL OC PAG PB ROL RES R SLGN SLAB SIX SPOT SF TMHC TEL TECK TDY TEVA TMO TNL UMC VRT WAB

  • Afternoon: AFL AEM AGI ALGN ALGT ALSN NLY AM AR ACGL ASGN AZPN AVB AXS NTB BHE BMRN BOOT BCOV CACI CG CCS CHX CHDN CINF CNO CDE CTSH FIX CYH CNMD CLB CONE DRE EBAY EW ESI EHC EQT EQC ETD RE EVTC EXR FLEX FLS F FORM FWRD GSHD THG PI NGVT ISBC INVH IRBT JBT KRC KLAC KN LC MXL MTH MEOH MAA MKSI MC MOH MUSA MYRG NTGR NDLS ORLY OII PGRE PEGA PDM PPC PLXS PPD RJF SIGI SCI NOW SIMO SNBR SSB SRI TDOC TROX TTMI TWLO TYL UCTT URI UPWK VICI WCN WOLF WH XLNX YUMC


  • Thursday (Oct 28)

  • Morning: FLWS AOS ABMD AGCO ATI ALGM ADS AB ALNY MO AEP AMT BUD AVNT BAX BPMC BC CRS CARR CAT CBZ CBRE CHKP CLVT CMS CNX COLB CMCO CMCSA COR CFR DBD EXP EME FCN THRM GPI HSY HBAN IDA ITW IMAX INSM ITGR ICE JHG KBR KDP KEX LH TREE LECO LIN LKQ MA MDC MPW MD MRK MDP TAP MCO COOP NEM NLSN NOC NVCR NVT OSK OSIS OSTK PATK PTEN PBF BTU PRFT PRLB PACK RLGY RS RGEN RDS.A SAIA SNY SNDR SHOP SIRI SWI SAH SMP SWK STM TROW TFX TPX TXT TW TRS VLY VC WST WEX WLTW WNS XEL YUM

  • Afternoon: ACHC AMZN ABCB AAPL AJG TEAM AVTR AVT AX BIO CPT CDNA CWST CHE COHU COLM OFC CUZ DVA DECK DXCM DRQ EMN EIG ENVA EXPO FHI FE FTV FTAI FTDR GLPI GILD LOPE HIG HTGC HTH HUBG KMPR KNSL LMAT LPLA LTC MGRC MERC MMSI MSTR MHK MPWR NATI NXGN PEB POLY POWI PTCT RNST RSG RMD SGEN SPNE SKX SKYW SM SPSC SSNC STAG SBUX SYK TEX TXRH X VRSN VCRA WRE WERN WDC AUY ZEN


  • Friday (Oct 29)

  • Morning: ABBV AON ATR B BAH CCJ CBOE CERN CHTR CVX CHD CL XOM FTS GWW HUN IMGN IMO LAZ LYB NWL PSX PSXP PNM POR PFS SJR SHLX SLCA WPC WY WETF



Asia & Europe detail:

Asia: Nikkei +1.8%, Hang Seng -0.4%, Shanghai Composite -0.3%

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Chinese developer Modern Land did not repay a $250 mln dollar-denominated bond that matured on Monday, triggering a default. The Bank of Japan extended its FX swap agreement with China by three years. Japan's Prime Minister Kishida said that economic proposals will be drafted in November. SK Hynix reported its best Q3 profit in three years. South Korea's oil tax will be lowered by 20% for six months.

  • In economic data:

  • Japan's August Corporate Services Price Index 0.9% yr/yr (expected 1.1%; last 1.0%). September BoJ Core CPI 0.6% yr/yr (last 0.3%)

  • South Korea's Q3 GDP 0.3% qtr/qtr (expected 0.6%; last 0.8%); 4.0% yr/yr (expected 4.2%; last 6.0%)

  • Singapore's September Industrial Production -2.8% m/m (expected 0.3%; last 5.6%); -3.4% yr/yr (expected -0.5%; last 11.0%)

  • Hong Kong's September trade deficit HKD42.40 bln (last deficit of HKD26.30 bln). September Imports 23.5% m/m (last 28.1%) and Exports 16.5% m/m (last 25.9%)


---Equity Markets---

  • Japan's Nikkei: +1.8%

  • Hong Kong's Hang Seng: -0.4%

  • China's Shanghai Composite: -0.3%

  • India's Sensex: +0.6%

  • South Korea's Kospi: +0.9%

  • Australia's ASX All Ordinaries: +0.1%

---FX---

  • USD/JPY: +0.3% to 113.99

  • USD/CNH: -0.1% to 6.3763

  • USD/INR: -0.3% to 74.89

Europe: DAX +0.9%, FTSE +0.6%, CAC +0.7%

Major European indices trade in the green. The U.K. is expected to increase salaries of government workers and raise the national living wage to GBP9.50/hr from GBP8.91/hr. France will reportedly slow down customs checks on goods entering from the U.K. ahead of the holidays in retaliation for the ongoing fishing dispute. Germany's economy ministry lowered the domestic growth forecast for 2021 to 2.6% from 3.5% and raised the outlook for 2022 to 4.1% from 3.6%. UBS reported better than expected results.

  • In economic data:

  • U.K.'s October CBI Distributive Trades Survey 30 (expected 13; last 11)

  • Spain's September PPI 23.6% yr/yr (last 18.0%)


---Equity Markets---

  • STOXX Europe 600: +0.5%

  • Germany's DAX: +0.9%

  • U.K.'s FTSE 100: +0.6%

  • France's CAC 40: +0.7%

  • Italy's FTSE MIB: +0.5%

  • Spain's IBEX 35: +1.0%

---FX---

  • EUR/USD: +0.1% to 1.1622

  • GBP/USD: +0.4% to 1.3827

  • USD/CHF: UNCH at 0.9192


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