Equities

Broad Rise For US Equities With All Sectors Up Except Healthcare

Another day of low-volume, low-volatility overperformance for value over growth and small caps over large caps strategies

Published ET

Breakdown of the S&P 500 Market Cap By Sector | Sources: ϕpost, Refinitiv data

Breakdown of the S&P 500 Market Cap By Sector | Sources: ϕpost, Refinitiv data


Twitter iconFacebook iconLinkedIn iconemail iconWhatsApp icon

QUICK SUMMARY

  • Daily performance of US indices: S&P 500 up 0.25%; Nasdaq Composite down -0.16%; Wilshire 5000 up 0.23%
  • 75.4% of S&P 500 stocks were up today, with 85.3% of stocks above their 200-day moving average (DMA) and 66.9% above their 50-DMA
  • Top performing sectors in the S&P 500: materials up 1.42% and industrials up 1.30%
  • Bottom performing sectors in the S&P 500: health care down -0.97% and technology up 0.03%
  • The number of shares in the S&P 500 traded today was 475m for a total turnover of US$ 57 bn
  • The S&P 500 Value Index was up 0.6%, while the S&P 500 Growth Index was down -0.1%; the S&P small caps index was up 0.7% and mid caps were up 0.8%
  • The volume on CME's INX (S&P 500 Index) was 1.9m (3-month z-score: -0.5); 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 0.42%; UK FTSE 100 up 0.83%; tonight in Asia, China CSI 300 down -0.17% and Japan's TOPIX 500 up 0.22%

VOLATILITY

  • 1-month at-the-money implied volatility on the S&P 500 at 13.9%, up from 12.4%
  • 1-month at-the-money implied volatility on the Europe Stoxx 600 at 10.6%, up from 10.5%

NOTABLE S&P 500 EARNINGS RELEASES

  • eBay Inc (Technology): missed on EPS (0.99 act. vs. 1.07 est.) and missed on revenue (2,668m act. vs. 2,972m est.)
  • Perrigo Company PLC (Healthcare): missed on EPS (0.50 act. vs. 0.61 est.) and missed on revenue (981m act. vs. 1,018m est.)
S&P 500 Performance By Sectors | Sources: ϕpost, Refinitiv dataS&P 500, Stoxx 600 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

TOP WINNERS

  • Doximity Inc (DOCS), up 33.0% to $70.41 / 12-Month Price Range: $ 41.17-68.71 / Short interest (% of float): 6.5%; days to cover: 0.7
  • Upstart Holdings Inc (UPST), up 26.2% to $171.20 / YTD price return: +320.1% / 12-Month Price Range: $ 22.61-191.89 / Short interest (% of float): 4.2%; days to cover: 0.7
  • Taskus Inc (TASK), up 22.1% to $39.40 / 12-Month Price Range: $ 26.66-35.63 / Short interest (% of float): 2.4%; days to cover: 0.8
  • Adagio Therapeutics Inc (ADGI), up 14.7% to $27.76 / 12-Month Price Range: $ 20.50-26.78
  • Unity Software Inc (U), up 13.3% to $121.35 / YTD price return: -20.9% / 12-Month Price Range: $ 65.11-174.94 / Short interest (% of float): 6.2%; days to cover: 3.8
  • Hut 8 Mining Corp (HUT), up 12.4% to $7.06 / YTD price return: +156.7% / 12-Month Price Range: $ .59-13.00 / Short interest (% of float): 2.2%
  • Innoviz Technologies Ltd (INVZ), up 12.4% to $9.55 / YTD price return: -33.2% / 12-Month Price Range: $ 7.72-17.75 / Short interest (% of float): 1.7%; days to cover: 6.2
  • Fubotv Inc (FUBO), up 11.1% to $31.82 / YTD price return: +13.6% / 12-Month Price Range: $ 8.26-62.29 / Short interest (% of float): 20.4%; days to cover: 2.7
  • Mcafee Corp (MCFE), up 9.9% to $31.26 / YTD price return: +118.8% / 12-Month Price Range: $ 14.80-32.83 / Short interest (% of float): 3.0%; days to cover: 3.2
  • Globalstar Inc (GSAT), up 9.2% to $1.55 / YTD price return: +357.8% / 12-Month Price Range: $ .29-2.98 / Short interest (% of float): 8.3%; days to cover: 1.9

BIGGEST LOSERS

  • ON24 Inc (ONTF), down 31.0% to $22.31 / 12-Month Price Range: $ 31.03-81.98 / Short interest (% of float): 6.8%; days to cover: 7.2 (the stock is currently on the short sale restriction list)
  • WW International Inc (WW), down 24.6% to $24.36 / YTD price return: -.2% / 12-Month Price Range: $ 17.75-41.13 (the stock is currently on the short sale restriction list)
  • FREYR Battery SA (FREY), down 18.5% to $10.78 / YTD price return: +7.2% / 12-Month Price Range: $ 7.71-15.28 / Short interest (% of float): 3.6% (the stock is currently on the short sale restriction list)
  • Hyzon Motors Inc (HYZN), down 18.1% to $6.55 / YTD price return: -38.2% / 12-Month Price Range: $ 6.02-19.95 / Short interest (% of float): 3.3%; days to cover: 4.5 (the stock is currently on the short sale restriction list)
  • Avid Bioservices Inc (CDMO), down 17.9% to $23.26 / YTD price return: +101.6% / 12-Month Price Range: $ 6.61-28.36 (the stock is currently on the short sale restriction list)
  • Poshmark Inc (POSH), down 17.1% to $27.36 / 12-Month Price Range: $ 32.95-104.98 / Short interest (% of float): 21.7%; days to cover: 3.7 (the stock is currently on the short sale restriction list)
  • Wix.Com Ltd (WIX), down 17.0% to $215.49 / YTD price return: -13.8% / 12-Month Price Range: $ 213.12-362.07 / Short interest (% of float): 6.5%; days to cover: 6.2 (the stock is currently on the short sale restriction list)
  • SimilarWeb Ltd (SMWB), down 16.8% to $20.60 / 12-Month Price Range: $ 17.81-25.50 / Short interest (% of float): 0.1%; days to cover: 0.4 (the stock is currently on the short sale restriction list)
  • Moderna Inc (MRNA), down 15.6% to $385.33 / YTD price return: +268.8% / 12-Month Price Range: $ 54.21-497.49 (the stock is currently on the short sale restriction list)
  • Inari Medical Inc (NARI), down 15.5% to $75.10 / YTD price return: -14.0% / 12-Month Price Range: $ 58.66-127.42 / Short interest (% of float): 3.2%; days to cover: 2.9 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

S&P 500 Forward P/E Multiples By Sector | Sources: ϕpost, FactSet dataS&P 500 Forward EV/EBITDA Multiples By Sector | Sources: ϕpost, FactSet data

NEW IPOs ANNOUNCED OR PRICED

  • Decarbonization Plus Acquisition Corp IV / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: DCRDU / Gross proceeds (including overallotment): US$ 275.00m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc, Credit Suisse Securities (USA) LLC
  • 10X Capital Venture Acquisition Corp II / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: VCXAU / Gross proceeds (including overallotment): US$ 200.00m (offering in U.S. Dollar) / Bookrunners: Cantor Fitzgerald & Co
  • TPB Acquisition Corp I / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: TPBAU / Gross proceeds (including overallotment): US$ 175.00m (offering in U.S. Dollar) / Bookrunners: Code Advisors, Barclays Capital Inc
  • Chardan NexTech Acquisition 2 Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: CNTQU / Gross proceeds (including overallotment): US$ 110.00m (offering in U.S. Dollar) / Bookrunners: Chardan Capital Markets LLC
  • HYUNDAI HEAVY INDUSTRIES CO LTD / South Korea - Industrials / Listing Exchange: Korea / Ticker: N/A / Gross proceeds (including overallotment): US$ 395.50m (offering in Korean Won) / Bookrunners: Credit Suisse, Daishin Securities Co Ltd, Shinyoung Securities Co, Ltd, Samsung Securities Co Ltd, Korea Investment & Securities Co Ltd, Hana Financial Investment Co, Mirae Asset Daewoo Co Ltd, KBI Securities Co Ltd, DB Financial Investment Co Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

  • Health Catalyst Inc / United States of America - High Technology / Listing Exchange: Nasdaq / Ticker: HCAT / Gross proceeds (including overallotment): US$ 225.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Evercore Group, JP Morgan Securities LLC