QUICK SUMMARY

• Daily performance of US indices: S&P 500 down -1.70%; Nasdaq Composite down -2.19%; Wilshire 5000 down -1.82%
• 9.9% of S&P 500 stocks were up today, with 64.8% of stocks above their 200-day moving average (DMA) and 30.7% above their 50-DMA
• Top performing sectors in the S&P 500: utilities down -0.21% and real estate down -0.63%
• Bottom performing sectors in the S&P 500: energy down -3.04% and consumer discretionary down -2.37%
• The number of shares in the S&P 500 traded today was 716m for a total turnover of US$ 87 bn
• The S&P 500 Value Index was down -1.5%, while the S&P 500 Growth Index was down -1.9%; the S&P small caps index was down -2.0% and mid caps were down -1.6%
• The volume on CME's INX (S&P 500 Index) was 2.6m (3-month z-score: 1.8); 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 -1.67%; UK FTSE 100 down -0.86%; tonight in Asia, Japan's TOPIX 500 down -1.65% (Chinese markets are closed Monday-Tuesday)

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 19.5%, up from 14.4%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 18.9%, up from 14.6%

NOTABLE S&P 500 EARNINGS RELEASES

• Leidos Holdings Inc (LDOS | Technology): missed on EPS (1.52 act. vs. 1.58 est.) and beat on revenue (3,448m act. vs. 3,375m est.), up 0.46% today

TOP WINNERS

• Discovery Inc (DISCB), up 45.5% to $67.50 / YTD price return: +108.3% / 12-Month Price Range: $ 26.00-150.72 / Short interest (% of float): 1.4%; days to cover: 0.8
• Arqit Quantum Inc (ARQQ), up 36.6% to $24.94 / 12-Month Price Range: $ 8.00-26.00 / Short interest (% of float): 0.3%; days to cover: 0.6
• Dutch Bros Inc (BROS), up 18.4% to $51.56 / 12-Month Price Range: $ 32.42-54.39 (the stock is currently on the short sale restriction list)
• ProShares Ultra VIX Short-Term Futures ETF (UVXY), up 16.3% to $27.31 / YTD price return: -74.4% / 12-Month Price Range: $ 20.60-232.00 / Short interest (% of float): 11.3%; days to cover: 0.2
• Companhia Energetica de Minas Gerais CEMIG (CIGc), up 10.7% to $3.21 / YTD price return: +10.5% / 12-Month Price Range: $ 1.61-3.55 / Short interest (% of float): 0.0%; days to cover: 0.6 (the stock is currently on the short sale restriction list)
• Atea Pharmaceuticals Inc (AVIR), up 10.3% to $28.94 / YTD price return: -30.7% / 12-Month Price Range: $ 18.72-94.17 / Short interest (% of float): 7.8%; days to cover: 5.0
• IronNet Inc (IRNT), up 10.2% to $33.34 / YTD price return: +229.4% / 12-Month Price Range: $ 9.37-47.50 / Short interest (% of float): 1.6%; days to cover: 1.3
• Microvast Holdings Inc (MVST), up 10.0% to $10.08 / YTD price return: -41.1% / 12-Month Price Range: $ 7.83-25.20 / Short interest (% of float): 4.9%; days to cover: 1.9
• Brooks Automation Inc (BRKS), up 8.8% to $102.45 / YTD price return: +51.0% / 12-Month Price Range: $ 43.14-108.72
• Li-Cycle Holdings Corp (LICY), up 7.7% to $9.48 / YTD price return: -8.5% / 12-Month Price Range: $ 7.69-15.74 / Short interest (% of float): 3.6%; days to cover: 6.0

BIGGEST LOSERS

• Golden Ocean Group Ltd (GOGL), down 17.0% to $9.30 / YTD price return: +100.9% / 12-Month Price Range: $ 3.17-12.17 (the stock is currently on the short sale restriction list)
• Zhihu Inc (ZH), down 15.8% to $7.87 / 12-Month Price Range: $ 6.81-13.85 / Short interest (% of float): 1.5%; days to cover: 4.2 (the stock is currently on the short sale restriction list)
• Scholar Rock Holding Corp (SRRK), down 15.8% to $34.09 / YTD price return: -29.8% / 12-Month Price Range: $ 13.30-70.00 / Short interest (% of float): 10.6%; days to cover: 17.6 (the stock is currently on the short sale restriction list)
• Icosavax Inc (ICVX), down 14.5% to $28.27 / 12-Month Price Range: $ 21.70-49.99 / Short interest (% of float): 1.4%; days to cover: 0.9 (the stock is currently on the short sale restriction list)
• Apollo Medical Holdings Inc (AMEH), down 14.5% to $82.81 / YTD price return: +353.3% / 12-Month Price Range: $ 16.21-114.55 / Short interest (% of float): 5.9%; days to cover: 4.7 (the stock is currently on the short sale restriction list)
• TMC the metals company Inc (TMC), down 14.3% to $8.90 / YTD price return: -17.3% / 12-Month Price Range: $ 8.31-15.39 / Short interest (% of float): 1.5%; days to cover: 4.7 (the stock is currently on the short sale restriction list)
• Cognyte Software Ltd (CGNT), down 13.7% to $24.31 / 12-Month Price Range: $ 22.22-38.00 / Short interest (% of float): 0.4%; days to cover: 0.6 (the stock is currently on the short sale restriction list)
• Verve Therapeutics Inc (VERV), down 13.5% to $51.78 / 12-Month Price Range: $ 29.50-78.00 / Short interest (% of float): 4.2%; days to cover: 6.3 (the stock is currently on the short sale restriction list)
• Connect Biopharma Holdings Ltd (CNTB), down 13.2% to $20.02 / 12-Month Price Range: $ 14.02-29.27 / Short interest (% of float): 1.5%; days to cover: 14.0 (the stock is currently on the short sale restriction list)
• Denison Mines Corp (DNN), down 12.4% to $1.41 / YTD price return: +117.9% / 12-Month Price Range: $ .30-1.81 / Short interest (% of float): 2.5%; days to cover: 4.0

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Droom Technology Pvt Ltd / India - Retail / Listing Exchange: - / Ticker: - / Gross proceeds (including overallotment): US$ 271.59m (offering in Indian Rupee) / Bookrunners: Not Applicable

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Poema Global Holdings Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: PPGHU / Gross proceeds (including overallotment): US$ 250.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
• Transurban Group / Australia - Industrials / Listing Exchange: Australia / Ticker: TCL / Gross proceeds (including overallotment): US$ 2,880.75m (offering in Australian Dollar) / Bookrunners: UBS AG, Macquarie Capital (Australia) Ltd, Morgan Stanley Australia Securities Ltd, Barrenjoey Capital Partners Group Pty Ltd
• Tritax Eurobox PLC / United Kingdom - Real Estate / Listing Exchange: London / Ticker: EBOX / Gross proceeds (including overallotment): US$ 293.01m (offering in British Pound) / Bookrunners: Jefferies International Ltd, Van Lanschot Kempen Wealth Management NV
• Transurban Group / Australia - Industrials / Listing Exchange: Australia / Ticker: TCL / Gross proceeds (including overallotment): US$ 181.63m (offering in Australian Dollar) / Bookrunners: Not Applicable