QUICK SUMMARY

• Daily performance of US indices: S&P 500 up 0.15%; Nasdaq Composite up 0.52%; Wilshire 5000 up 0.39%
• 62.0% of S&P 500 stocks were up today, with 81.4% of stocks above their 200-day moving average (DMA) and 65.5% above their 50-DMA
• Top performing sectors in the S&P 500: energy up 1.61% and consumer discretionary up 0.76%
• Bottom performing sectors in the S&P 500: consumer staples down -0.76% and real estate down -0.72%
• The number of shares in the S&P 500 traded today was 433m for a total turnover of US$ 50 bn
• The S&P 500 Value Index was up 0.3%, while the S&P 500 Growth Index was unchanged; the S&P small caps index was up 0.7% and mid caps were up 1.0%
• The volume on CME's INX (S&P 500 Index) was 1.7m (3-month z-score: -0.7); the 3-month average volume is 2.0m and the 12-month range is 0.8 - 5.1m
• Daily performance of international indices: Europe Stoxx 600 down -0.02%; UK FTSE 100 up 0.24%; tonight in Asia, China's CSI 300 down -0.11% and Japan's TOPIX 500 up 0.07%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 11.4%, up from 11.2%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 11.4%, up from 11.4%

NOTABLE S&P 500 EARNINGS RELEASES

• Medtronic PLC (Healthcare): beat on EPS (1.41 act. vs. 1.32 est.) and beat on revenue (7,987m act. vs. 7,868m est.)
• Intuit Inc (Technology): beat on EPS (1.97 act. vs. 1.59 est.) and beat on revenue (2,561m act. vs. 2,317m est.)
• Best Buy Co Inc (Consumer Cyclicals): beat on EPS (2.98 act. vs. 1.85 est.) and beat on revenue (11,849m act. vs. 11,490m est.)
• Advance Auto Parts Inc (Consumer Cyclicals): beat on EPS (3.40 act. vs. 3.04 est.) and beat on revenue (2,649m act. vs. 2,642m est.)

TOP WINNERS

• Skywater Technology Inc (SKYT), up 30.4% to $26.84 / 12-Month Price Range: $ 14.25-34.43 / Short interest (% of float): 8.8%; days to cover: 1.6
• GameStop Corp (GME), up 27.5% to $210.29 / YTD price return: +1,016.2% / 12-Month Price Range: $ 4.56-483.00
• New Oriental Education & Technology Group Inc (EDU), up 26.5% to $2.15 / YTD price return: -88.4% / 12-Month Price Range: $ 1.68-19.97 / Short interest (% of float): 3.1%; days to cover: 0.5
• Pinduoduo Inc (PDD), up 22.2% to $99.12 / YTD price return: -44.2% / 12-Month Price Range: $ 69.89-212.60
• Nexa Resources SA (NEXA), up 21.4% to $8.41 / YTD price return: -12.8% / 12-Month Price Range: $ 5.13-12.58 / Short interest (% of float): 0.2%; days to cover: 1.3
• AMC Entertainment Holdings Inc (AMC), up 20.3% to $44.26 / YTD price return: +1,987.7% / 12-Month Price Range: $ 1.91-72.62
• TuSimple Holdings Inc (TSP), up 18.8% to $46.36 / 12-Month Price Range: $ 27.24-79.84 / Short interest (% of float): 5.4%; days to cover: 5.1
• Palo Alto Networks Inc (PANW), up 18.6% to $441.87 / YTD price return: +24.3% / 12-Month Price Range: $ 219.34-406.92 / Short interest (% of float): 5.1%
• Valneva SE (VALN), up 16.7% to $36.00 / 12-Month Price Range: $ 24.16-31.33 / Short interest (% of float): 0.0%; days to cover: 2.1
• TAL Education Group (TAL), up 16.7% to $5.60 / YTD price return: -92.2% / 12-Month Price Range: $ 4.03-90.96 / Short interest (% of float): 7.0%; days to cover: 0.7 (the stock is currently on the short sale restriction list)

BIGGEST LOSERS

• Generation Bio Co (GBIO), down 9.5% to $22.97 / 12-Month Price Range: $ 19.16-55.72 / Short interest (% of float): 12.9%; days to cover: 24.1 (the stock is currently on the short sale restriction list)
• Traeger Inc (COOK), down 9.4% to $24.72 / 12-Month Price Range: $ 21.95-32.59 / Short interest (% of float): 1.1%; days to cover: 0.2
• Monday.Com Ltd (MNDY), down 7.6% to $360.41 / 12-Month Price Range: $ 155.01-391.00 / Short interest (% of float): 1.2%; days to cover: 5.1
• Mister Car Wash Inc (MCW), down 7.5% to $19.03 / 12-Month Price Range: $ 17.68-24.49 / Short interest (% of float): 2.3%; days to cover: 3.3
• Novavax Inc (NVAX), down 7.2% to $233.01 / YTD price return: +109.0% / 12-Month Price Range: $ 76.59-331.68
• IGM Biosciences Inc (IGMS), down 7.0% to $73.72 / YTD price return: -16.5% / 12-Month Price Range: $ 41.41-133.00
• Kaltura Inc (KLTR), down 6.8% to $12.56 / 12-Month Price Range: $ 10.19-14.00 / Short interest (% of float): 0.3%; days to cover: 0.4
• Confluent Inc (CFLT), down 6.7% to $52.02 / 12-Month Price Range: $ 37.71-59.98 / Short interest (% of float): 13.4%; days to cover: 3.3
• Seagate Technology Holdings PLC (STX), down 6.1% to $86.07 / YTD price return: +38.5% / 12-Month Price Range: $ 44.76-106.22 / Short interest (% of float): 4.1%; days to cover: 4.3
• Avid Bioservices Inc (CDMO), down 6.0% to $24.10 / YTD price return: +108.8% / 12-Month Price Range: $ 6.61-28.36

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Direct Selling Acquisition Corp / United States of America - Financials / Listing Exchange: New York / Ticker: DSAQ.U / Gross proceeds (including overallotment): US$ 200.00m (offering in U.S. Dollar) / Bookrunners: BTIG LLC
• Citicore Energy REIT Corp / Philippines - Energy and Power / Listing Exchange: Philippine / Ticker: - / Gross proceeds (including overallotment): US$ 174.62m (offering in Philippine Peso) / Bookrunners: Unicapital Corp Investment Banking, PNB Capital & Investment Corp, BDO Capital Investment Corp, CLSA Equity Capital Markets Ltd, CIMB Group Holdings Bhd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Activia Properties Inc / Japan - Real Estate / Listing Exchange: Tokyo / Ticker: 3279 / Gross proceeds (including overallotment): US$ 129.61m (offering in Japanese Yen) / Bookrunners: Nomura Securities Co Ltd, Mizuho Securities Co Ltd, Daiwa Securities Co Ltd, Mitsubishi UFJ Morgan Stanley Securities Co Ltd