QUICK SUMMARY

• Daily performance of US indices: S&P 500 up 1.17%; Nasdaq Composite up 0.93%; Wilshire 5000 up 1.19%
• 85.7% of S&P 500 stocks were up today, with 64.8% of stocks above their 200-day moving average (DMA) and 49.9% above their 50-DMA
• Top performing sectors in the S&P 500: industrials up 1.64% and consumer staples up 1.60%
• Bottom performing sectors in the S&P 500: healthcare up 0.52% and technology up 0.97%
• The number of shares in the S&P 500 traded today was 687m for a total turnover of US$ 86 bn
• The S&P 500 Value Index was up 1.5%, while the S&P 500 Growth Index was up 0.9%; the S&P small caps index was up 2.4% and mid-caps were up 2.0%
• The volume on CME's INX (S&P 500 Index) was 2.6m (3-month z-score: 1.0); the 3-month average volume is 2.2m and the 12-month range is 0.8 - 4.6m
• Daily performance of international indices: Europe Stoxx 600 up 1.28%; UK FTSE 100 up 1.54%; tonight in Asia, the Hang Seng SH-SZ-HK 300 Index up 0.90%, Japan's TOPIX 500 up 1.19%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 19.1%, down from 22.3%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 19.5%, down from 21.5%

NOTABLE S&P 500 EARNINGS RELEASES

• MongoDB Inc (MDB | Technology): beat EPS median estimate (-0.11 act. vs. -0.42 est.) and beat revenue median estimate (227m act. vs. 204m est.), down -4.63% today, closed at 429.34 and at 446.00 (+3.88%) after hours
• Coupa Software Inc (COUP | Technology): beat EPS median estimate (0.31 act. vs. 0.02 est.) and beat revenue median estimate (186m act. vs. 178m est.), up 1.97% today, closed at 174.10 and at 171.00 (-1.78%) after hours
• Gitlab Inc (GTLB | Technology): beat EPS median estimate (-0.34 act. vs. -0.48 est.) and beat revenue median estimate (67m act. vs. 59m est.), up 1.32% today, closed at 89.16 and at 88.77 (-0.44%) after hours

TOP WINNERS

• GH Research PLC (GHRS), up 21.9% to $23.47 / 12-Month Price Range: $ 12.38-30.43 / Short interest (% of float): 3.2%; days to cover: 6.7
• GCP Applied Technologies Inc (GCP), up 17.1% to $31.64 / YTD price return: +33.8% / 12-Month Price Range: $ 20.76-29.18
• Volta Inc (VLTA), up 15.4% to $9.37 / YTD price return: -12.0% / 12-Month Price Range: $ 6.63-18.33 / Short interest (% of float): 3.4%; days to cover: 1.2 (the stock is currently on the short sale restriction list)
• Offerpad Solutions Inc (OPAD), up 14.8% to $7.38 / 12-Month Price Range: $ 6.27-20.97 / Short interest (% of float): 1.4%; days to cover: 1.0
• Latch Inc (LTCH), up 14.8% to $8.24 / 12-Month Price Range: $ 7.01-19.70 / Short interest (% of float): 9.0%; days to cover: 8.6
• Mister Car Wash Inc (MCW), up 14.7% to $19.01 / 12-Month Price Range: $ 15.67-24.49 / Short interest (% of float): 2.9%; days to cover: 3.9
• Jackson Financial Inc (JXN), up 13.7% to $38.82 / 12-Month Price Range: $ 22.29-36.74 / Short interest (% of float): 3.7%; days to cover: 2.4
• Lightwave Logic Inc (LWLG), up 13.3% to $15.53 / 12-Month Price Range: $ .83-17.24 / Short interest (% of float): 1.7%; days to cover: 3.4
• Aluminum Corp of China Ltd (ACH), up 12.9% to $13.33 / 12-Month Price Range: $ 7.57-23.90 / Short interest (% of float): 0.1%; days to cover: 0.7
• Ginkgo Bioworks Holdings Inc (DNA), up 12.6% to $9.74 / 12-Month Price Range: $ 7.91-15.86 / Short interest (% of float): 1.9%; days to cover: 2.3 (the stock is currently on the short sale restriction list)

BIGGEST LOSERS

• Reata Pharmaceuticals Inc (RETA), down 37.8% to $48.92 / YTD price return: -60.4% / 12-Month Price Range: $ 76.34-153.41 (the stock is currently on the short sale restriction list)
• Adagio Therapeutics Inc (ADGI), down 29.0% to $32.53 / 12-Month Price Range: $ 17.38-78.82 / Short interest (% of float): 7.2%; days to cover: 8.0 (the stock is currently on the short sale restriction list)
• Arqit Quantum Inc (ARQQ), down 27.6% to $27.07 / 12-Month Price Range: $ 8.00-41.52 / Short interest (% of float): 1.2%; days to cover: 0.9 (the stock is currently on the short sale restriction list)
• BioNTech SE (BNTX), down 18.7% to $279.83 / YTD price return: +243.3% / 12-Month Price Range: $ 80.55-464.00 / Short interest (% of float): 4.0%; days to cover: 1.1 (the stock is currently on the short sale restriction list)
• ESS Tech Inc (GWH), down 13.9% to $13.84 / 12-Month Price Range: $ 7.22-28.92 / Short interest (% of float): 4.1%; days to cover: 0.7 (the stock is currently on the short sale restriction list)
• Bird Global Inc (BRDS), down 13.7% to $6.87 / 12-Month Price Range: $ 5.80-11.32 / Short interest (% of float): 1.5%; days to cover: 1.9 (the stock is currently on the short sale restriction list)
• Moderna Inc (MRNA), down 13.5% to $265.33 / YTD price return: +154.0% / 12-Month Price Range: $ 102.66-497.49 / Short interest (% of float): 4.0%; days to cover: 1.3 (the stock is currently on the short sale restriction list)
• Vir Biotechnology Inc (VIR), down 13.4% to $38.39 / 12-Month Price Range: $ 25.31-141.01 / Short interest (% of float): 4.7%; days to cover: 6.5 (the stock is currently on the short sale restriction list)
• Zscaler Inc (ZS), down 12.4% to $274.36 / YTD price return: +37.4% / 12-Month Price Range: $ 157.03-376.11 / Short interest (% of float): 9.2%; days to cover: 5.0 (the stock is currently on the short sale restriction list)
• Cipher Mining Inc (CIFR), down 12.4% to $6.34 / 12-Month Price Range: $ 5.13-15.39 / Short interest (% of float): 3.8%; days to cover: 0.5 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• USA Acquisition Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: USAXU / Gross proceeds (including overallotment): US$ 150.00m (offering in U.S. Dollar) / Bookrunners: BTIG LLC, Jefferies LLC
• Net Protections Holdings Inc / Japan - High Technology / Listing Exchange: Tokyo 1 / Ticker: 7383 / Gross proceeds (including overallotment): US$ 450.15m (offering in Japanese Yen) / Bookrunners: Credit Suisse (Hong Kong) Ltd, Daiwa Capital Markets Europe Ltd, SMBC Nikko Capital Markets
• VT5 Acquisition Co AG / Switzerland - Financials / Listing Exchange: Swiss Exch / Ticker: N/A / Gross proceeds (including overallotment): US$ 217.91m (offering in Swiss Franc) / Bookrunners: UBS, Credit Suisse AG

NEW SECONDARIES / FOLLOW-ONS

• Icahn Enterprises LP / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: IEP / Gross proceeds (including overallotment): US$ 400.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
• American Assets Trust Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: AAT / Gross proceeds (including overallotment): US$ 250.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
• AP Memory Technology Corp / Taiwan - High Technology / Listing Exchange: Taiwan / Ticker: 6531 / Gross proceeds (including overallotment): US$ 265.98m (offering in Taiwanese Dollar) / Bookrunners: Not Applicable
• Mapletree Logistics Trust / Singapore - Real Estate / Listing Exchange: Singapore / Ticker: M44U / Gross proceeds (including overallotment): US$ 151.01m (offering in Singapore Dollar) / Bookrunners: Oversea-Chinese Banking Corp Ltd, Hongkong and Shanghai Banking Corp (Singapore), DBS Bank Ltd
• Logan Group Co Ltd / China - Real Estate / Listing Exchange: Hong Kong / Ticker: 3380 / Gross proceeds (including overallotment): US$ 150.07m (offering in Hong Kong Dollar) / Bookrunners: UBS (Hong Kong), BNP Paribas (Hong Kong), Citigroup
• Nippon Prologis REIT Inc / Japan - Real Estate / Listing Exchange: Tokyo / Ticker: 3283 / Gross proceeds (including overallotment): US$ 120.58m (offering in Japanese Yen) / Bookrunners: Nomura International PLC, Goldman Sachs International, Merrill Lynch International Ltd, Mizuho International PLC, Morgan Stanley & Co. International plc, SMBC Nikko Capital Markets