QUICK SUMMARY

• Daily performance of US indices: S&P 500 up 0.95%; Nasdaq Composite up 1.02%; Wilshire 5000 up 0.98%
• 82.8% of S&P 500 stocks were up today, with 66.1% of stocks above their 200-day moving average (DMA) and 36.2% above their 50-DMA
• Top performing sectors in the S&P 500: energy up 3.17% and financials up 1.58%
• Bottom performing sectors in the S&P 500: utilities down -0.11% and telecoms down -0.01%
• The number of shares in the S&P 500 traded today was 547m for a total turnover of US$ 66 bn
• The S&P 500 Value Index was up 1.1%, while the S&P 500 Growth Index was up 0.8%; the S&P small caps index was up 1.6% and mid caps were up 1.3%
• The volume on CME's INX (S&P 500 Index) was 2.0m (3-month z-score: 0.1); 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 up 0.99%; UK FTSE 100 up 1.47%; Japan's TOPIX 500 down -0.99% (Japanese markets are closed on Thursday); tonight in Asia, China's CSI 300 is up 0.66%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 15.2%, down from 18.5%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 15.7%, down from 17.4%

NOTABLE S&P 500 EARNINGS RELEASES

• General Mills Inc (GIS | Consumer Non-Cyclicals): beat on EPS (0.99 act. vs. 0.89 est.) and beat on revenue (4,540m act. vs. 4,292m est.), up 3.29% today

TOP WINNERS

• Toast Inc (TOST), up 56.3% to $62.51 on its trading debut
• Dynavax Technologies Corp (DVAX), up 26.4% to $18.79 / YTD price return: +322.2% / 12-Month Price Range: $ 3.58-20.40 / Short interest (% of float): 20.3%; days to cover: 5.3
• Discovery Inc (DISCB), up 25.4% to $60.01 / YTD price return: +85.2% / 12-Month Price Range: $ 26.00-150.72 / Short interest (% of float): 1.4%; days to cover: 0.8
• Spire Global Inc (SPIR), up 20.8% to $18.45 / YTD price return: +84.3% / 12-Month Price Range: $ 8.27-18.36 / Short interest (% of float): 0.6%; days to cover: 1.9
• Celestica Inc (CLS), up 17.5% to $9.46 / YTD price return: +17.2% / 12-Month Price Range: $ 5.77-9.57 / Short interest (% of float): 0.7%; days to cover: 1.8
• Stitch Fix Inc (SFIX), up 15.7% to $41.01 / YTD price return: -30.2% / 12-Month Price Range: $ 25.19-113.76 / Short interest (% of float): 17.5%; days to cover: 10.5
• Arqit Quantum Inc (ARQQ), up 12.8% to $35.60 / 12-Month Price Range: $ 8.00-33.00 / Short interest (% of float): 0.4%; days to cover: 0.6
• Boston Omaha Corp (BOMN), up 12.7% to $39.90 / YTD price return: +44.3% / 12-Month Price Range: $ 14.80-49.92 / Short interest (% of float): 2.7%; days to cover: 8.1
• Hut 8 Mining Corp (HUT), up 11.9% to $8.64 / YTD price return: +214.2% / 12-Month Price Range: $ .59-13.00 / Short interest (% of float): 2.2%; days to cover: 0.6
• Century Aluminum Co (CENX), up 11.2% to $13.55 / YTD price return: +22.8% / 12-Month Price Range: $ 6.27-19.60 / Short interest (% of float): 11.4%; days to cover: 4.0

BIGGEST LOSERS

• TMC the metals company Inc (TMC), down 24.9% to $6.92 / YTD price return: -35.7% / 12-Month Price Range: $ 8.31-15.39 / Short interest (% of float): 1.9%; days to cover: 4.7 (the stock is currently on the short sale restriction list)
• InnovAge Holding Corp (INNV), down 24.9% to $8.75 / 12-Month Price Range: $ 11.45-27.18 / Short interest (% of float): 13.8%; days to cover: 13.7 (the stock is currently on the short sale restriction list)
• Cerevel Therapeutics Holdings Inc (CERE), down 20.3% to $30.97 / YTD price return: +86.8% / 12-Month Price Range: $ 9.00-39.61 / Short interest (% of float): 17.4%; days to cover: 6.7 (the stock is currently on the short sale restriction list)
• Nuvalent Inc (NUVL), down 19.9% to $26.60 / 12-Month Price Range: $ 17.00-40.82 / Short interest (% of float): 1.9%; days to cover: 3.1 (the stock is currently on the short sale restriction list)
• Offerpad Solutions Inc (OPAD), down 12.3% to $10.93 / YTD price return: -.6% / 12-Month Price Range: $ 8.20-20.97 / Short interest (% of float): 5.1%; days to cover: 11.8 (the stock is currently on the short sale restriction list)
• Vir Biotechnology Inc (VIR), down 9.9% to $45.99 / YTD price return: +71.7% / 12-Month Price Range: $ 25.31-141.01 / Short interest (% of float): 5.2%; days to cover: 5.6 (the stock is currently on the short sale restriction list)
• FibroGen Inc (FGEN), down 9.4% to $10.18 / YTD price return: -72.6% / 12-Month Price Range: $ 11.08-57.21 / Short interest (% of float): 7.1%; days to cover: 4.4 (the stock is currently on the short sale restriction list)
• Scholar Rock Holding Corp (SRRK), down 9.3% to $31.06 / YTD price return: -36.0% / 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)
• AKA Brands Holding Corp (AKA), down 9.2% to $9.99 on its trading debut
• FedEx Corp (FDX), down 9.1% to $229.08 / YTD price return: -11.8% / 12-Month Price Range: $ 234.79-319.90 / Short interest (% of float): 1.4%

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Inflection Point Acquisition Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: IPAXU / Gross proceeds (including overallotment): US$ 300.00m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• Bill.com Holdings Inc / United States of America - High Technology / Listing Exchange: New York / Ticker: BILL / Gross proceeds (including overallotment): US$ 1,200.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Morgan Stanley & Co LLC, JP Morgan Securities LLC, Bofa Securities Inc
• Hyatt Hotels Corp / United States of America - Media and Entertainment / Listing Exchange: New York / Ticker: H / Gross proceeds (including overallotment): US$ 521.43m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, JP Morgan Securities LLC, Bofa Securities Inc
• TELUS International (Cda) Inc / Canada - Consumer Products and Services / Listing Exchange: Toronto / Ticker: TIXT / Gross proceeds (including overallotment): US$ 422.76m (offering in U.S. Dollar) / Bookrunners: CIBC World Markets Inc, JP Morgan Securities LLC, Barclays Capital Inc
• Safehold Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: SAFE / Gross proceeds (including overallotment): US$ 159.42m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Morgan Stanley & Co LLC, JP Morgan Securities LLC, Bofa Securities Inc