QUICK SUMMARY

• Daily performance of US indices: S&P 500 up 0.17%; Nasdaq Composite down -0.40%; Wilshire 5000 up 0.08%
• 63.2% of S&P 500 stocks were up today, with 83.4% of stocks above their 200-day moving average (DMA) and 62.2% above their 50-DMA
• Top performing sectors in the S&P 500: financials up 2.01% and materials up 1.47%
• Bottom performing sectors in the S&P 500: consumer discretionary down -0.73% and real estate down -0.23%
• The number of shares in the S&P 500 traded today was 476m for a total turnover of US$ 56 bn
• The S&P 500 Value Index was up 0.7%, while the S&P 500 Growth Index was down -0.3%; the S&P small caps index was up 1.2% and mid caps were up 0.4%
• The volume on CME's INX (S&P 500 Index) was 1.8m (3-month z-score: -0.7); 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 0.00%; UK FTSE 100 up 0.04%; China CSI 300 down -0.55%; Japan's TOPIX 500 up 0.02%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 11.8%, down from 12.3%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 11.2%, down from 11.6%

NOTABLE S&P 500 EARNINGS RELEASES

• Dominion Energy Inc (Utilities): missed on EPS (0.76 act. vs. 0.77 est.) and missed on revenue (3,038m act. vs. 3,723m est.)
• Ventas Inc (Real Estate): beat on EPS (0.23 act. vs. -0.08 est.) and beat on revenue (919m act. vs. 913m est.)

TOP WINNERS

• BeyondSpring Inc (BYSI), up 23.8% to $26.87 / 12-Month Price Range: $ 8.90-30.00 / Short interest (% of float): 13.5%; days to cover: 6.2
• Aurinia Pharmaceuticals Inc (AUPH), up 23.1% to $14.42 / 12-Month Price Range: $ 9.72-20.50 / Short interest (% of float): 11.4%; days to cover: 4.5
• Liveramp Holdings Inc (RAMP), up 22.3% to $47.47 / 12-Month Price Range: $ 38.50-87.38 / Short interest (% of float): 3.3%; days to cover: 1.8
• Switch Inc (SWCH), up 19.7% to $24.32 / YTD price return: +48.6% / 12-Month Price Range: $ 13.38-21.99 / Short interest (% of float): 9.2%; days to cover: 4.0
• Synaptics Inc (SYNA), up 16.5% to $170.50 / YTD price return: +76.9% / 12-Month Price Range: $ 74.47-160.00 / Short interest (% of float): 10.4%; days to cover: 7.8
• Grid Dynamics Holdings Inc (GDYN), up 15.7% to $24.68 / 12-Month Price Range: $ 6.60-22.25 / Short interest (% of float): 5.6%; days to cover: 3.4
• Joint Corp (JYNT), up 15.2% to $104.52 / YTD price return: +298.0% / 12-Month Price Range: $ 13.65-91.00
• Tecnoglass Inc (TGLS), up 13.8% to $22.55 / 12-Month Price Range: $ 4.21-24.01 / Short interest (% of float): 3.9%; days to cover: 1.9
• Cornerstone OnDemand Inc (CSOD), up 13.5% to $56.66 / YTD price return: +28.7% / 12-Month Price Range: $ 32.99-55.50 / Short interest (% of float): 2.6%; days to cover: 4.5
• Kaltura Inc (KLTR), up 12.4% to $13.61 / 12-Month Price Range: $ 10.19-13.83

BIGGEST LOSERS

• Dicerna Pharmaceuticals Inc (DRNA), down 28.1% to $27.25 / 12-Month Price Range: $ 16.50-40.14 / Short interest (% of float): 6.7%; days to cover: 6.5 (the stock is currently on the short sale restriction list)
• Y-mAbs Therapeutics Inc (YMAB), down 21.6% to $29.25 / YTD price return: -40.9% / 12-Month Price Range: $ 24.78-55.22 / Short interest (% of float): 7.7%; days to cover: 11.5 (the stock is currently on the short sale restriction list)
• Novavax Inc (NVAX), down 19.6% to $189.89 / YTD price return: +70.3% / 12-Month Price Range: $ 76.59-331.68 / Short interest (% of float): 8.2%; days to cover: 1.4 (the stock is currently on the short sale restriction list)
• Zynga Inc (ZNGA), down 18.2% to $7.99 / YTD price return: -19.0% / 12-Month Price Range: $ 7.77-12.32 (the stock is currently on the short sale restriction list)
• Vimeo Inc (VMEO), down 17.4% to $37.27 / 12-Month Price Range: $ 38.00-58.00 / Short interest (% of float): 2.3%; days to cover: 1.5 (the stock is currently on the short sale restriction list)
• iHeartMedia Inc (IHRT), down 17.0% to $21.98 / YTD price return: +69.3% / 12-Month Price Range: $ 7.41-28.24 / Short interest (% of float): 4.0%; days to cover: 3.6 (the stock is currently on the short sale restriction list)
• FireEye Inc (FEYE), down 17.0% to $16.68 / YTD price return: -27.7% / 12-Month Price Range: $ 12.26-25.53 / Short interest (% of float): 7.2%; days to cover: 3.5 (the stock is currently on the short sale restriction list)
• AngloGold Ashanti Ltd (AU), down 15.5% to $16.21 / 12-Month Price Range: $ 18.18-32.99 / Short interest (% of float): 2.0%; days to cover: 2.5 (the stock is currently on the short sale restriction list)
• Zymergen Inc (ZY), down 14.7% to $12.33 / 12-Month Price Range: $ 7.85-52.00 / Short interest (% of float): 2.2%; days to cover: 5.5 (the stock is currently on the short sale restriction list)
• Apollo Medical Holdings Inc (AMEH), down 13.7% to $80.96 / 12-Month Price Range: $ 16.21-114.55 / Short interest (% of float): 4.2%; days to cover: 2.1 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Adagio Therapeutics Inc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: ADGI / Gross proceeds (including overallotment): US$ 355.81m (offering in U.S. Dollar) / Bookrunners: Stifel Nicolaus & Co Inc, Guggenheim Securities LLC, Jefferies LLC, Morgan Stanley & Co LLC
• Cascadia Acquisition Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: CCAI.U / Gross proceeds (including overallotment): US$ 150.00m (offering in U.S. Dollar) / Bookrunners: Cantor Fitzgerald & Co
• LOTTE Rental Co Ltd / South Korea - Consumer Products and Services / Listing Exchange: Korea / Ticker: N/A / Gross proceeds (including overallotment): US$ 409.59m (offering in Korean Won) / Bookrunners: Samsung Securities Co Ltd, Korea Investment & Securities Co Ltd, Kiwoom Securities Co, Shinhan Investment Corp, NH Investment & Securities Co, Hana Financial Investment Co, Mirae Asset Daewoo Co Ltd, KBI Securities Co Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Green Plains Inc / United States of America - Materials / Listing Exchange: Nasdaq / Ticker: GPRE / Gross proceeds (including overallotment): US$ 174.80m (offering in U.S. Dollar) / Bookrunners: Jefferies LLC, Bofa Securities Inc
• Albany International Corp / United States of America - Consumer Staples / Listing Exchange: New York / Ticker: AIN / Gross proceeds (including overallotment): US$ 129.19m (offering in U.S. Dollar) / Bookrunners: JP Morgan Securities LLC
• Li Auto Inc / China - Industrials / Listing Exchange: Hong Kong / Ticker: LI / Gross proceeds (including overallotment): US$ 1,365.58m (offering in Hong Kong Dollar) / Bookrunners: Goldman Sachs (Asia), BOCI Asia Ltd, CLSA Asia-Pacific Markets Ltd, CMB International Capital Corp, China International Capital Corp HK Securities Ltd, Futu Securities International (Hong Kong) Ltd, UBS Securities LLC
• SBI Life Insurance Co Ltd / India - Financials / Listing Exchange: National / Ticker: SBILIF / Gross proceeds (including overallotment): US$ 290.63m (offering in Indian Rupee) / Bookrunners: Not Applicable
• Darktrace PLC / United Kingdom - High Technology / Listing Exchange: London / Ticker: DARK / Gross proceeds (including overallotment): US$ 159.93m (offering in British Pound) / Bookrunners: Berenberg, Needham & Co LLC, Jefferies International Ltd, Piper Sandler & Co
• NEXON Co Ltd / Japan - High Technology / Listing Exchange: Tokyo 1 / Ticker: 3659 / Gross proceeds (including overallotment): US$ 142.15m (offering in Japanese Yen) / Bookrunners: Directly Placed