QUICK SUMMARY

• Daily performance of US indices: S&P 500 up 1.01%; Nasdaq Composite up 1.04%; Wilshire 5000 up 0.99%
• 81.6% of S&P 500 stocks were up today, with 86.3% of stocks above their 200-day moving average (DMA) and 53.5% above their 50-DMA
• Top performing sectors in the S&P 500: telecoms up 2.65% and utilities up 1.28%
• Bottom performing sectors in the S&P 500: energy down -0.43% and financials up 0.13%
• The number of shares in the S&P 500 traded today was 444m for a total turnover of US$ 54 bn
• The S&P 500 Value Index was up 0.6%, while the S&P 500 Growth Index was up 1.4%; the S&P small caps index was up 0.7% and mid caps were up 0.9%
• The volume on CME's INX (S&P 500 Index) was 1.8m (3-month z-score: -0.9); 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 up 1.09%; UK FTSE 100 up 0.85%; China CSI 300 down -1.21% and Japan was closed for the start of the Olympics

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 11.5%, down from 13.1%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 11.4%, down from 13.0%

NOTABLE S&P 500 EARNINGS RELEASES

• American Express Co (Financials): beat on EPS (2.80 act. vs. 1.67 est.) and beat on revenue (10,243m act. vs. 9,577m est.)
• Honeywell International Inc (Consumer Non-Cyclicals): beat on EPS (2.02 act. vs. 1.94 est.) and beat on revenue (8,808m act. vs. 8,640m est.)
• Kimberly-Clark Corp (Consumer Non-Cyclicals): missed on EPS (1.47 act. vs. 1.71 est.) and missed on revenue (4,722m act. vs. 4,762m est.)
• Nextera Energy Inc (Utilities): beat on EPS (0.71 act. vs. 0.70 est.) and missed on revenue (3,927m act. vs. 4,985m est.)
• Regions Financial Corp (Financials): beat on EPS (0.77 act. vs. 0.53 est.) and beat on revenue (1,563m act. vs. 1,553m est.)
• Roper Technologies Inc (Technology): beat on EPS (3.76 act. vs. 3.67 est.) and beat on revenue (1,588m act. vs. 1,580m est.)
• Schlumberger NV (Energy): beat on EPS (0.30 act. vs. 0.26 est.) and beat on revenue (5,634m act. vs. 5,515m est.)

TOP WINNERS

• Veoneer Inc (VNE), up 56.4% to $31.17 / YTD price return: +46.3% / 12-Month Price Range: $ 9.56-30.71 / Short interest (% of float): 6.2%; days to cover: 15.6
• NRX Pharmaceuticals Inc (NRXP), up 50.6% to $24.77 / 12-Month Price Range: $ 8.39-76.99 / Short interest (% of float): 1.3%; days to cover: 0.6
• Snap Inc (SNAP), up 23.8% to $77.97 / YTD price return: +55.8% / 12-Month Price Range: $ 20.61-73.59 / Short interest (% of float): 4.2%
• Core & Main Inc (CNM), up 18.5% to $23.70 on its trading debut
• Prelude Therapeutics Inc (PRLD), up 16.4% to $34.06 / YTD price return: -52.4% / 12-Month Price Range: $ 23.69-95.38 / Short interest (% of float): 7.8%; days to cover: 15.1
• Apollo Medical Holdings Inc (AMEH), up 15.8% to $112.84 / 12-Month Price Range: $ 16.21-103.58 / Short interest (% of float): 4.1%; days to cover: 2.7
• Taboola.com Ltd (TBLA), up 14.4% to $10.30 / 12-Month Price Range: $ 8.37-17.20 / Short interest (% of float): 0.4%; days to cover: 3.6
• Arvinas Inc (ARVN), up 13.0% to $95.47 / YTD price return: +12.4% / 12-Month Price Range: $ 19.68-92.77 / Short interest (% of float): 7.1%; days to cover: 5.5
• Roku Inc (ROKU), up 12.6% to $473.65 / YTD price return: +42.7% / 12-Month Price Range: $ 143.21-486.72 / Short interest (% of float): 3.3%
• FREYR Battery SA (FREY), up 12.0% to $8.94 / 12-Month Price Range: $ 7.71-15.28

BIGGEST LOSERS

• TAL Education Group (TAL), down 70.8% to $6.00 / YTD price return: -91.6% / 12-Month Price Range: $ 17.30-90.96 / Short interest (% of float): 3.6%; days to cover: 0.8 (the stock is currently on the short sale restriction list)
• New Oriental Education & Technology Group Inc (EDU), down 54.2% to $2.93 / YTD price return: -84.2% / 12-Month Price Range: $ 5.75-19.97 / Short interest (% of float): 3.3%; days to cover: 1.2 (the stock is currently on the short sale restriction list)
• Youdao Inc (DAO), down 42.8% to $12.69 / YTD price return: -52.2% / 12-Month Price Range: $ 18.62-47.70 / Short interest (% of float): 2.9%; days to cover: 2.4 (the stock is currently on the short sale restriction list)
• Full Truck Alliance Co Ltd (YMM), down 28.4% to $10.85 / 12-Month Price Range: $ 14.89-22.80 / Short interest (% of float): 0.3%; days to cover: 0.2 (the stock is currently on the short sale restriction list)
• Boston Beer Company Inc (SAM), down 26.0% to $701.00 / YTD price return: -29.5% / 12-Month Price Range: $ 653.06-1,349.98 / Short interest (% of float): 10.6%; days to cover: #N/A (the stock is currently on the short sale restriction list)
• Studio City International Holdings Ltd (MSC), down 24.5% to $9.19 / YTD price return: -22.6% / 12-Month Price Range: $ 8.53-27.00 / Short interest (% of float): 0.0%; days to cover: 1.8 (the stock is currently on the short sale restriction list)
• Agora Inc (API), down 21.4% to $26.01 / YTD price return: -34.3% / 12-Month Price Range: $ 32.59-114.97 / Short interest (% of float): 9.4%; days to cover: 5.8 (the stock is currently on the short sale restriction list)
• DiDi Global Inc (DIDI), down 21.0% to $8.06 / 12-Month Price Range: $ 10.17-18.01 (the stock is currently on the short sale restriction list)
• Baozun Inc (BZUN), down 16.8% to $26.52 / YTD price return: -22.8% / 12-Month Price Range: $ 30.00-57.00 / Short interest (% of float): 9.2%; days to cover: 8.6 (the stock is currently on the short sale restriction list)
• 21Vianet Group Inc (VNET), down 13.9% to $15.80 / YTD price return: -54.5% / 12-Month Price Range: $ 16.94-44.45 / Short interest (% of float): 5.8%; days to cover: 2.8 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Core & Main Inc / United States of America - Consumer Products and Services / Listing Exchange: New York / Ticker: CNM / Gross proceeds (including overallotment): US$ 697.67m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Credit Suisse Securities (USA) LLC, JP Morgan Securities LLC
• Caribou Biosciences Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: CRBU / Gross proceeds (including overallotment): US$ 304.00m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc, SVB Leerink LLC, Bofa Securities Inc
• Argus Capital Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: ARGUU / Gross proceeds (including overallotment): US$ 300.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Morgan Stanley & Co LLC
• Cytek Biosciences Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: CTKB / Gross proceeds (including overallotment): US$ 284.74m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Cowen & Co, Morgan Stanley & Co LLC, Piper Sandler & Co
• Outbrain Inc / United States of America - High Technology / Listing Exchange: Nasdaq / Ticker: OB / Gross proceeds (including overallotment): US$ 160.00m (offering in U.S. Dollar) / Bookrunners: Evercore Group, Citigroup Global Markets Inc, Jefferies LLC, Barclays Capital Inc
• Belong Acquisition Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: BLNGU / Gross proceeds (including overallotment): US$ 150.00m (offering in U.S. Dollar) / Bookrunners: Loop Capital Markets, Wells Fargo Securities LLC
• Zhuhai Raysharp Technology Co Ltd / China - High Technology / Listing Exchange: ShenzChNxt / Ticker: N/A / Gross proceeds (including overallotment): US$ 111.48m (offering in Chinese Yuan) / Bookrunners: Minsheng Securities Co Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Natera Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: NTRA / Gross proceeds (including overallotment): US$ 508.50m (offering in U.S. Dollar) / Bookrunners: Cowen & Co, Goldman Sachs & Co, Morgan Stanley & Co LLC, SVB Leerink LLC
• Evolution Mining Ltd / Australia - Materials / Listing Exchange: Australia / Ticker: EVN / Gross proceeds (including overallotment): US$ 295.12m (offering in Australian Dollar) / Bookrunners: Not Applicable