QUICK SUMMARY

• Daily performance of US indices: S&P 500 down -0.54%; Nasdaq Composite down -0.71%; Wilshire 5000 down -0.64%
• 42.0% of S&P 500 stocks were up today, with 87.3% of stocks above their 200-day moving average (DMA) and 55.0% above their 50-DMA
• Top performing sectors in the S&P 500: materials up 0.40% and real estate up 0.32%
• Bottom performing sectors in the S&P 500: consumer discretionary down -2.77% and energy down -1.76%
• The number of shares in the S&P 500 traded today was 705m for a total turnover of US$ 81 bn
• The S&P 500 Value Index was down -0.4%, while the S&P 500 Growth Index was down -0.6%; the S&P small caps index was down -0.3% and mid caps were down -0.1%
• The volume on CME's INX (S&P 500 Index) was 2.2m (3-month z-score: 0.4); 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 -0.45%; UK FTSE 100 down -0.65%; China CSI 300 down -0.81%; Japan's TOPIX 500 down -1.37%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 12.6%, up from 12.3%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 13.1%, up from 11.7%

NOTABLE S&P 500 EARNINGS RELEASES

• Procter & Gamble Co (Consumer Non-Cyclicals): beat on EPS (1.13 act. vs. 1.08 est.) and beat on revenue (18,946m act. vs. 18,407m est.)
• Exxon Mobil Corp (Energy): beat on EPS (1.10 act. vs. 0.99 est.) and beat on revenue (67,742m act. vs. 66,808m est.)
• Abbvie Inc (Healthcare): beat on EPS (3.11 act. vs. 3.09 est.) and beat on revenue (13,959m act. vs. 13,637m est.)
• Chevron Corp (Energy): beat on EPS (1.71 act. vs. 1.59 est.) and beat on revenue (37,597m act. vs. 35,941m est.)
• Charter Communications Inc (Technology): beat on EPS (5.29 act. vs. 4.78 est.) and beat on revenue (12,802m act. vs. 12,612m est.)
• Linde PLC (Basic Materials): beat on EPS (2.70 act. vs. 2.54 est.) and beat on revenue (7,584m act. vs. 7,347m est.)
• Caterpillar Inc (Industrials): beat on EPS (2.60 act. vs. 2.40 est.) and beat on revenue (12,889m act. vs. 12,580m est.)
• Illinois Tool Works Inc (Consumer Non-Cyclicals): beat on EPS (2.10 act. vs. 2.09 est.) and beat on revenue (3,676m act. vs. 3,567m est.)
• Colgate-Palmolive Co (Consumer Non-Cyclicals): beat on EPS (0.80 act. vs. 0.80 est.) and beat on revenue (4,260m act. vs. 4,246m est.)
• Aon PLC (Financials): beat on EPS (2.29 act. vs. 1.86 est.) and beat on revenue (2,886m act. vs. 2,693m est.)
• IDEXX Laboratories Inc (Healthcare): beat on EPS (2.34 act. vs. 2.03 est.) and beat on revenue (826m act. vs. 786m est.)
• Johnson Controls International PLC (Industrials): missed on EPS (0.83 act. vs. 0.83 est.) and beat on revenue (6,344m act. vs. 6,256m est.)
• LyondellBasell Industries NV (Basic Materials): beat on EPS (6.13 act. vs. 5.57 est.) and beat on revenue (11,561m act. vs. 11,056m est.)
• VF Corp (Consumer Cyclicals): beat on EPS (0.27 act. vs. 0.11 est.) and beat on revenue (2,195m act. vs. 2,156m est.)
• Weyerhaeuser Co (Real Estate): missed on EPS (1.37 act. vs. 1.41 est.) and beat on revenue (3,144m act. vs. 3,091m est.)
• Cerner Corp (Healthcare): beat on EPS (0.80 act. vs. 0.76 est.) and beat on revenue (1,457m act. vs. 1,439m est.)
• W W Grainger Inc (Industrials): missed on EPS (4.27 act. vs. 4.61 est.) and missed on revenue (3,207m act. vs. 3,224m est.)
• Church & Dwight Co Inc (Consumer Non-Cyclicals): beat on EPS (0.76 act. vs. 0.70 est.) and beat on revenue (1,271m act. vs. 1,259m est.)
• Cboe Global Markets Inc (Financials): beat on EPS (1.38 act. vs. 1.36 est.) and beat on revenue (351m act. vs. 348m est.)
• Newell Brands Inc (Consumer Cyclicals): beat on EPS (0.56 act. vs. 0.45 est.) and beat on revenue (2,709m act. vs. 2,551m est.)

TOP WINNERS

• MaxCyte Inc (MXCT), up 30.8% to $17.00 / 12-Month Price Range: $ 5.85-9.37
• Atlassian Corporation PLC (TEAM), up 21.9% to $325.12 / YTD price return: +39.0% / 12-Month Price Range: $ 160.01-275.67 / Short interest (% of float): 2.9%; days to cover: 3.4
• Silicon Motion Technology Corp (SIMO), up 16.6% to $74.99 / YTD price return: +55.7% / 12-Month Price Range: $ 35.13-74.10 / Short interest (% of float): 2.3%; days to cover: 3.3
• Power Integrations Inc (POWI), up 14.1% to $96.99 / YTD price return: +18.5% / 12-Month Price Range: $ 50.34-99.05
• Veracyte Inc (VCYT), up 13.6% to $44.56 / YTD price return: -8.9% / 12-Month Price Range: $ 28.82-86.03
• Dexcom Inc (DXCM), up 13.0% to $515.51 / YTD price return: +39.4% / 12-Month Price Range: $ 305.63-466.21
• Silk Road Medical Inc (SILK), up 12.9% to $50.18 / YTD price return: -20.3% / 12-Month Price Range: $ 43.11-75.80
• Capri Holdings Ltd (CPRI), up 12.5% to $56.31 / YTD price return: +34.1% / 12-Month Price Range: $ 13.80-59.60 / Short interest (% of float): 2.8%; days to cover: 2.6
• Innoviz Technologies Ltd (INVZ), up 11.3% to $9.25 / 12-Month Price Range: $ 7.72-17.75 / Short interest (% of float): 1.9%; days to cover: 5.9
• Grid Dynamics Holdings Inc (GDYN), up 10.4% to $21.05 / 12-Month Price Range: $ 6.45-21.13

BIGGEST LOSERS

• Cassava Sciences Inc (SAVA), down 32.7% to $69.53 / YTD price return: +919.5% / 12-Month Price Range: $ 2.78-146.16 / Short interest (% of float): 11.8%; days to cover: 1.4 (the stock is currently on the short sale restriction list)
• Translate Bio Inc (TBIO), down 22.4% to $27.64 / YTD price return: +50.0% / 12-Month Price Range: $ 11.91-36.98 (the stock is currently on the short sale restriction list)
• Pinterest Inc (PINS), down 18.2% to $58.90 / YTD price return: -10.6% / 12-Month Price Range: $ 24.41-89.90 (the stock is currently on the short sale restriction list)
• Credicorp Ltd (BAP), down 16.3% to $100.96 / YTD price return: -38.4% / 12-Month Price Range: $ 110.47-169.50 (the stock is currently on the short sale restriction list)
• Newegg Commerce Inc (NEGG), down 14.7% to $17.20 / 12-Month Price Range: $ 2.76-79.07 (the stock is currently on the short sale restriction list)
• IGM Biosciences Inc (IGMS), down 13.6% to $68.01 / YTD price return: -23.0% / 12-Month Price Range: $ 41.41-133.00 (the stock is currently on the short sale restriction list)
• Zendesk Inc (ZEN), down 13.3% to $130.53 / YTD price return: -8.8% / 12-Month Price Range: $ 85.19-166.60 (the stock is currently on the short sale restriction list)
• Waterdrop Inc (WDH), down 12.1% to $4.22 / 12-Month Price Range: $ 4.17-11.77 / Short interest (% of float): 0.1%; days to cover: 0.6 (the stock is currently on the short sale restriction list)
• Apollo Medical Holdings Inc (AMEH), down 10.8% to $88.37 / 12-Month Price Range: $ 16.21-114.55 (the stock is currently on the short sale restriction list)
• Intercorp Financial Services Inc (IFS), down 10.1% to $20.35 / 12-Month Price Range: $ 19.23-35.96 / Short interest (% of float): 0.1%; days to cover: 0.9 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Kimbell Tiger Acquisition Corp / United States of America - Financials / Listing Exchange: New York / Ticker: TGR.U / Gross proceeds (including overallotment): US$ 200.00m (offering in U.S. Dollar) / Bookrunners: UBS Securities LLC
• Hawks Acquisition Corp / United States of America - Financials / Listing Exchange: New York / Ticker: HWKZ.U / Gross proceeds (including overallotment): US$ 200.00m (offering in U.S. Dollar) / Bookrunners: BTIG LLC, Mizuho Securities USA LLC
• Tenaya Therapeutics Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: TNYA / Gross proceeds (including overallotment): US$ 180.00m (offering in U.S. Dollar) / Bookrunners: Cowen & Co, Morgan Stanley & Co LLC, Piper Sandler & Co
• Omega Therapeutics Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: OMGA / Gross proceeds (including overallotment): US$ 125.80m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Wedbush Securities, Inc., Jefferies LLC, Piper Sandler & Co
• RxSight Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: RXST / Gross proceeds (including overallotment): US$ 117.60m (offering in U.S. Dollar) / Bookrunners: JP Morgan Securities LLC, SVB Leerink LLC, Bofa Securities Inc
• Immuneering Corp / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: IMRX / Gross proceeds (including overallotment): US$ 112.50m (offering in U.S. Dollar) / Bookrunners: Guggenheim Securities LLC, Cowen & Co, Jefferies LLC, Morgan Stanley & Co LLC
• Sino Biological Inc / China - Healthcare / Listing Exchange: ShenzChNxt / Ticker: 301047 / Gross proceeds (including overallotment): US$ 771.30m (offering in Chinese Yuan) / Bookrunners: CITIC Securities Co Ltd
• S.P.I Landscape Design Co Ltd / China - Industrials / Listing Exchange: ShenzChNxt / Ticker: 300844 / Gross proceeds (including overallotment): US$ 125.51m (offering in Chinese Yuan) / Bookrunners: Minsheng Securities Co Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Essential Properties Realty Trust Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: EPRT / Gross proceeds (including overallotment): US$ 350.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
• Technip Energies NV / France - Energy and Power / Listing Exchange: Euro Paris / Ticker: TE / Gross proceeds (including overallotment): US$ 213.00m (offering in EURO) / Bookrunners: Societe Generale SA, Morgan Stanley & Co International PLC
• PointsBet Holdings Ltd / Australia - Media and Entertainment / Listing Exchange: Australia / Ticker: PBH / Gross proceeds (including overallotment): US$ 159.04m (offering in Australian Dollar) / Bookrunners: Goldman Sachs (Australia), MST Financial Services Pty Ltd