QUICK SUMMARY

• Daily performance of US indices: S&P 500 down -1.59%; Nasdaq Composite down -1.06%; Wilshire 5000 down -1.44%
• 11.9% of S&P 500 stocks were up today, with 79.0% of stocks above their 200-day moving average (DMA) and 36.0% above their 50-DMA
• Top performing sectors in the S&P 500: consumer staples down -0.31% and health care down -1.07%
• Bottom performing sectors in the S&P 500: energy down -3.59% and financials down -2.80%
• The number of shares in the S&P 500 traded today was 725m for a total turnover of US$ 77 bn
• The S&P 500 Value Index was down -2.0%, while the S&P 500 Growth Index was down -1.2%; the S&P small caps index was down -1.9% and mid caps were down -1.8%
• The volume on CME's INX (S&P 500 Index) was 2.8m (3-month z-score: 2.0); the 3-month average volume is 2.1m and the 12-month range is 0.8 - 5.1m
• Daily performance of international indices: Europe Stoxx 600 down -2.30%; UK FTSE 100 down -2.34%; tonight in China CSI 300 down -0.35% and Japan down -0.64%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 16.0%, up from 13.3%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 17.7%, up from 12.1%

NOTABLE S&P 500 EARNINGS RELEASES

• International Business Machines Corp (Technology): beat on EPS (2.33 act. vs. 2.29 est.) and beat on revenue (18,745m act. vs. 18,294m est.)

TOP WINNERS

• Cytokinetics Inc (CYTK), up 40.4% to $27.00 / YTD price return: +29.9% / 12-Month Price Range: $ 14.71-30.14
• SPX FLOW Inc (FLOW), up 22.3% to $75.93 / YTD price return: +31.0% / 12-Month Price Range: $ 36.87-71.62 / Short interest (% of float): 1.3%; days to cover: 3.7
• ProShares Ultra VIX Short-Term Futures ETF (UVXY), up 21.4% to $35.65 / YTD price return: -66.5% / 12-Month Price Range: $ 25.95-321.80 / Short interest (% of float): 15.7%; days to cover: 0.3
• Ocugen Inc (OCGN), up 12.9% to $7.52 / YTD price return: +310.9% / 12-Month Price Range: $ .21-18.77
• Novavax Inc (NVAX), up 12.8% to $210.51 / YTD price return: +88.8% / 12-Month Price Range: $ 76.59-331.68
• Connect Biopharma Holdings Ltd (CNTB), up 12.6% to $24.77 / 12-Month Price Range: $ 14.02-25.00 / Short interest (% of float): 1.4%; days to cover: 14.5
• SGOCO Group Ltd (SGOC), up 11.9% to $13.88 / YTD price return: +857.2% / 12-Month Price Range: $ .77-29.00 / Short interest (% of float): 0.7%; days to cover: 5.2
• Beachbody Company Inc (BODY), up 10.7% to $8.79 / 12-Month Price Range: $ 7.81-18.20 / Short interest (% of float): 4.0%; days to cover: 2.7
• Prelude Therapeutics Inc (PRLD), up 10.5% to $31.37 / YTD price return: -56.2% / 12-Month Price Range: $ 23.69-95.38 / Short interest (% of float): 7.8%; days to cover: 15.1
• Amyris Inc (AMRS), up 10.2% to $14.39 / YTD price return: +133.0% / 12-Month Price Range: $ 1.88-23.42

BIGGEST LOSERS

• Newegg Commerce Inc (NEGG), down 15.7% to $25.76 / YTD price return: +520.7% / 12-Month Price Range: $ 2.76-79.07 / Short interest (% of float): 0.3%; days to cover: 0.4 (the stock is currently on the short sale restriction list)
• F45 Training Holdings Inc (FXLV), down 14.6% to $13.75 / 12-Month Price Range: $ 15.50-17.75 (the stock is currently on the short sale restriction list)
• Blend Labs Inc (BLND), down 14.2% to $17.93 / 12-Month Price Range: $ 19.20-21.04 (the stock is currently on the short sale restriction list)
• Membership Collective Group Inc (MCG), down 13.6% to $10.80 / 12-Month Price Range: $ 11.67-13.59 (the stock is currently on the short sale restriction list)
• ProShares Ultra Bloomberg Crude Oil (UCO), down 13.1% to $65.99 / YTD price return: +81.9% / 12-Month Price Range: $ 21.73-82.59 / Short interest (% of float): 2.3%; days to cover: 0.6 (the stock is currently on the short sale restriction list)
• Schnitzer Steel Industries Inc (SCHN), down 10.0% to $46.08 / YTD price return: +44.4% / 12-Month Price Range: $ 16.82-59.34 (the stock is currently on the short sale restriction list)
• Kite Realty Group Trust (KRG), down 10.0% to $18.75 / YTD price return: +25.3% / 12-Month Price Range: $ 9.27-23.14 (the stock is currently on the short sale restriction list)
• New Oriental Education & Technology Group Inc (EDU), down 9.6% to $5.84 / YTD price return: -68.6% / 12-Month Price Range: $ 6.10-19.97 (the stock is currently on the short sale restriction list)
• Yalla Group Ltd (YALA), down 9.6% to $15.23 / YTD price return: +6.3% / 12-Month Price Range: $ 6.26-41.35 / Short interest (% of float): 4.4%; days to cover: 3.1 (the stock is currently on the short sale restriction list)
• Matador Resources Co (MTDR), down 9.5% to $28.75 / YTD price return: +138.4% / 12-Month Price Range: $ 6.29-38.05 / Short interest (% of float): 11.2%; days to cover: 8.1 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Kensington Capital Acquisition Corp V / United States of America - Financials / Listing Exchange: New York / Ticker: KCGI.U / Gross proceeds (including overallotment): US$ 260.00m (offering in U.S. Dollar) / Bookrunners: UBS Securities LLC
• Thorne Healthtech Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: THRN / Gross proceeds (including overallotment): US$ 200.00m (offering in U.S. Dollar) / Bookrunners: Cowen & Co, Evercore Group, Bofa Securities Inc
• Jiangsu Recbio Technology Co Ltd / China - Healthcare / Listing Exchange: Hong Kong / Ticker: N/A / Gross proceeds (including overallotment): US$ 300.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
• I2PO SA / France - Financials / Listing Exchange: Euro Paris / Ticker: I2PO / Gross proceeds (including overallotment): US$ 295.13m (offering in EURO) / Bookrunners: Societe Generale SA, JP Morgan & Co Inc, Deutsche Bank
• VAM Investments SPAC BV / Italy - Financials / Listing Exchange: EuronextAM / Ticker: VAMT / Gross proceeds (including overallotment): US$ 295.13m (offering in EURO) / Bookrunners: Societe Generale SA, UniCredit Bank AG, JP Morgan AG, Citigroup Global Markets Europe AG
• Energy Transition Partners BV / Netherlands - Financials / Listing Exchange: EuronextAM / Ticker: ENTPA / Gross proceeds (including overallotment): US$ 206.59m (offering in EURO) / Bookrunners: JP Morgan AG
• ONDE SA / Poland - Energy and Power / Listing Exchange: Warsaw / Ticker: OND / Gross proceeds (including overallotment): US$ 114.58m (offering in Polish Zloty) / Bookrunners: Trigon Dom Maklerski SA

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Chargepoint Holdings Inc / United States of America - Energy and Power / Listing Exchange: New York / Ticker: CHPT / Gross proceeds (including overallotment): US$ 282.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Oppenheimer & Co Inc, Morgan Stanley & Co LLC, Bofa Securities Inc
• Gatos Silver Inc / United States of America - Materials / Listing Exchange: New York / Ticker: GATO / Gross proceeds (including overallotment): US$ 116.48m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, RBC Capital Markets, BMO Capital Markets
• Inari Amertron Bhd / Malaysia - High Technology / Listing Exchange: Kuala Lump / Ticker: INARI / Gross proceeds (including overallotment): US$ 245.38m (offering in Malaysian Ringgit) / Bookrunners: M and A Securities Sdn Berhad, CIMB Investment Bank Bhd
• Create Restaurants Holdings Inc / Japan - Retail / Listing Exchange: Tokyo 1 / Ticker: 3387 / Gross proceeds (including overallotment): US$ 181.69m (offering in Japanese Yen) / Bookrunners: Not Applicable