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CAPIS Views from Quarantine 4

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posted by CAPIS on 06/25/2020 at 3:12 pm
by CAPIS on 06/25/2020

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. Previous “Views from Quarantine” posts:  1 | 2 | 3 Ray Prisco, Fixed Income Trader | Dallas, TX What’s the best part about the new working situation? A relaxed dress code and the significantly reduced commute time. What do you miss about working in the office? I miss overhearing the witty banter and market color among the fellow traders and the computer set up on the trading floor. How are you keeping yourself busy? I have been refining my culinary skills, spending time with my son, and Facetime/Zoom with family and friends. Best tip for working remotely? Avoid opening any potential malicious emails and having a strong wifi password! What would you say to those working on the COVID-19 front lines? We are trying to do our part to stay away and stay home so we don’t make a bad situation worse for all of you,…

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. Previous “Views from Quarantine” posts:  1 | 2 | 3 Ray Prisco, Fixed Income Trader | Dallas, TX What’s the best part about the new working situation? A relaxed dress code and the significantly reduced commute time. What do you miss about working in the office? I miss overhearing the witty banter and market color among the fellow traders and the computer set up on the trading floor. How are you keeping yourself busy? I have been refining my culinary skills, spending time with my son, and Facetime/Zoom with family and friends. Best tip for working remotely? Avoid opening any potential malicious emails and having a strong wifi password! What would you say to those working on the COVID-19 front lines? We are trying to do our part to stay away and stay home so we don’t make a bad situation worse for all of you,…

CAPIS Views from Quarantine 3

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posted by CAPIS on 05/18/2020 at 3:25 pm
by CAPIS on 05/18/2020

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. Previous “Views from Quarantine” posts:  1 | 2 Kelly Eskildsen, Equity Trading | Dallas, TX What’s the best part about the new working situation? My favorite part of working from home is the extra time I get to spend with my family.  I get to have breakfast with the kids! What do you miss about working in the office? I miss the conversations with my team and coworkers. How are you keeping yourself busy? (TV shows, hobbies, projects, etc.) With all of the elearning, I have become a substitute teacher for our 3 kids.  Thankfully my Algebra skills are still sharp. Best tip for working remotely? Wake up at the usual time.  I traded my commute in the car for a walk or yoga! What would you say to those working on the COVID-19 front lines? Thank you for your dedication to helping others!   Chris…

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. Previous “Views from Quarantine” posts:  1 | 2 Kelly Eskildsen, Equity Trading | Dallas, TX What’s the best part about the new working situation? My favorite part of working from home is the extra time I get to spend with my family.  I get to have breakfast with the kids! What do you miss about working in the office? I miss the conversations with my team and coworkers. How are you keeping yourself busy? (TV shows, hobbies, projects, etc.) With all of the elearning, I have become a substitute teacher for our 3 kids.  Thankfully my Algebra skills are still sharp. Best tip for working remotely? Wake up at the usual time.  I traded my commute in the car for a walk or yoga! What would you say to those working on the COVID-19 front lines? Thank you for your dedication to helping others!   Chris…

CAPIS Views from Quarantine 2

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posted by CAPIS on 05/07/2020 at 12:11 pm
by CAPIS on 05/07/2020

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. To view the previous “Views from Quarantine” post, click here. David Choate, COO, Executive Director of Global Sales | Dallas, TX What’s the best part about the new working situation? The 1-minute commute from kitchen to office What do you miss about working in the office? Meetings at the Crafty Irishman (pub) after the Close.  Does that count? How are you keeping yourself busy during shelter-in-place? (TV shows, hobbies, projects, etc.) Fishing!  There is a pond behind my house and it is easy to social distance while fishing. Best tip for working remotely? Use video conferencing.  Actually seeing another person is helpful What would you say to those working on the COVID-19 front lines? Thank you and stay safe!   Corey Ware, Equity Trading | Dallas, TX What’s the best part about the new working situation? The best parts about working from home are the commute,…

Since March 16, CAPIS has transitioned to almost every employee working remotely, so we thought we’d share our home-office views and  how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. To view the previous “Views from Quarantine” post, click here. David Choate, COO, Executive Director of Global Sales | Dallas, TX What’s the best part about the new working situation? The 1-minute commute from kitchen to office What do you miss about working in the office? Meetings at the Crafty Irishman (pub) after the Close.  Does that count? How are you keeping yourself busy during shelter-in-place? (TV shows, hobbies, projects, etc.) Fishing!  There is a pond behind my house and it is easy to social distance while fishing. Best tip for working remotely? Use video conferencing.  Actually seeing another person is helpful What would you say to those working on the COVID-19 front lines? Thank you and stay safe!   Corey Ware, Equity Trading | Dallas, TX What’s the best part about the new working situation? The best parts about working from home are the commute,…

CAPIS Views from Quarantine

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posted by CAPIS on 04/28/2020 at 4:24 pm
by CAPIS on 04/28/2020

Since March 16, CAPIS has transitioned to almost every employee working remotely. As we reach a month and a half of shelter-in-place orders, we thought we’d share our home-office views and give you a glimpse into how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. To view the next “Views from Quarantine” post, click here. Bill Steen, Institutional Sales | Dallas, TX What’s the best part about the new working situation? No traffic & my new 4 yr old CSR, Robi, who thinks I am here to entertain her. What do you miss about working in the office? The fellowship with good people and the sounds of activity. How are you keeping yourself busy during shelter-in-place? (TV shows, hobbies, projects, etc.) Walks & bike rides every evening with my beautiful granddaughter Robi. Golf on the weekends. Best tip for working remotely? Have an office with doors. What would you say to those working on the COVID-19 front lines? Thank you for what you do.   Stephen Lamendola, Chief Information Officer | Dallas, TX What’s the best…

Since March 16, CAPIS has transitioned to almost every employee working remotely. As we reach a month and a half of shelter-in-place orders, we thought we’d share our home-office views and give you a glimpse into how our employees have kept busy. We’ll continue to share more “CAPIS Views” in the coming days, so be sure to check back for updates here on the website or on our LinkedIn. To view the next “Views from Quarantine” post, click here. Bill Steen, Institutional Sales | Dallas, TX What’s the best part about the new working situation? No traffic & my new 4 yr old CSR, Robi, who thinks I am here to entertain her. What do you miss about working in the office? The fellowship with good people and the sounds of activity. How are you keeping yourself busy during shelter-in-place? (TV shows, hobbies, projects, etc.) Walks & bike rides every evening with my beautiful granddaughter Robi. Golf on the weekends. Best tip for working remotely? Have an office with doors. What would you say to those working on the COVID-19 front lines? Thank you for what you do.   Stephen Lamendola, Chief Information Officer | Dallas, TX What’s the best…

CAPIS EU Close – 11/12/2019

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posted by Clayton Duff on 11/12/2019 at 11:20 am
by Clayton Duff on 11/12/2019

Most indices closed better with the Stoxx 600 working to get back to 2015 highs with only a few points to go.  Volume there was off 16%.  That index is up over 20% on the year with most sector components seeing respectable gains.  Telco led, up 1.24% with Financials and Chemicals following.  Food names slipped on the session. On the eco front jobs data in the UK was mixed with with weekly earnings holding in fairly well.  Jobless claims ticked up but the unemployment rate edged a hair lower.  ZEW readings from Germany remained weak on the current situation side but saw subdued weakness for expectations. Driving the Telco space higher Iliad rallied 20% with the firm coupling their 3Q earnings report with word they are planning a €1.48B share buyback. Founder Niel will not tender any of his shares with their CEO noting Niel’s holdings in the firm could jump to 72% from 52%. While Infineon +6.2% reported stronger $q revs and earnings the company warned the the semi space will not return to growth until 2H’20.   Dialog Semi +6.8% upped their LT rev and gross margin views. To the downside Electrocomponents fell 11% with RBC noting results were…

Most indices closed better with the Stoxx 600 working to get back to 2015 highs with only a few points to go.  Volume there was off 16%.  That index is up over 20% on the year with most sector components seeing respectable gains.  Telco led, up 1.24% with Financials and Chemicals following.  Food names slipped on the session. On the eco front jobs data in the UK was mixed with with weekly earnings holding in fairly well.  Jobless claims ticked up but the unemployment rate edged a hair lower.  ZEW readings from Germany remained weak on the current situation side but saw subdued weakness for expectations. Driving the Telco space higher Iliad rallied 20% with the firm coupling their 3Q earnings report with word they are planning a €1.48B share buyback. Founder Niel will not tender any of his shares with their CEO noting Niel’s holdings in the firm could jump to 72% from 52%. While Infineon +6.2% reported stronger $q revs and earnings the company warned the the semi space will not return to growth until 2H’20.   Dialog Semi +6.8% upped their LT rev and gross margin views. To the downside Electrocomponents fell 11% with RBC noting results were…

CAPIS EU Close – 4/17/2019

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posted by Clayton Duff on 04/17/2019 at 12:54 pm
by Clayton Duff on 04/17/2019

Post a heavy night of economic releases including a better GDP reading out of China European markets again moved a bit higher but on higher turnover tonight.  Despite EU27 New Car Registrations down 3.9% in march Autos today led sector-wise with a gain of 1.62%.  Media and Insurers worked higher while Healthcare names were off nearly 2%. ABB rallied 5.4% with inline 1Q revs reported.  Markets though were focused on CEO Spiesshofer stepping down as his role there has been plagued by poor stock performance and tension with a large shareholder. Roche fell 1% despite upping their FY sales growth guidance.  The firm sees better growth with new drugs for MS and breast cancer treatments up and running.  Growth in China was also cited. Steel names ticked up with Vale’s restart of an iron ore mine pushing prices lower.  ArcelorMittal +4.1% and Thyssenkrupp +3.6% both moved up as they attempt to move out of month’s long bases. Post the close Kering reported solid 1Q #’s with organic revenue growth up 20%.  The firm sees Gucci growth at twice the pace of growth in the space but still slower than the trajectory it has been on. Tonight, Japan is out with…

Post a heavy night of economic releases including a better GDP reading out of China European markets again moved a bit higher but on higher turnover tonight.  Despite EU27 New Car Registrations down 3.9% in march Autos today led sector-wise with a gain of 1.62%.  Media and Insurers worked higher while Healthcare names were off nearly 2%. ABB rallied 5.4% with inline 1Q revs reported.  Markets though were focused on CEO Spiesshofer stepping down as his role there has been plagued by poor stock performance and tension with a large shareholder. Roche fell 1% despite upping their FY sales growth guidance.  The firm sees better growth with new drugs for MS and breast cancer treatments up and running.  Growth in China was also cited. Steel names ticked up with Vale’s restart of an iron ore mine pushing prices lower.  ArcelorMittal +4.1% and Thyssenkrupp +3.6% both moved up as they attempt to move out of month’s long bases. Post the close Kering reported solid 1Q #’s with organic revenue growth up 20%.  The firm sees Gucci growth at twice the pace of growth in the space but still slower than the trajectory it has been on. Tonight, Japan is out with…

CAPIS EU Close – 4/15/2019

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posted by Clayton Duff on 04/15/2019 at 12:40 pm
by Clayton Duff on 04/15/2019

As the US celebrates Tax Day and the fact that the average American still has more work days ahead to pay for said taxes European indices closed slightly higher. The skew concerning sectors was to the upside with Telcos leading while Basic Resources slipped.  The Energy complex finished off slightly with oil prices lower today. From this weekend the IMF said global growth was expanding at a slower pace than seen last October.  WTO reform needs and trade woes were cited with pledges from members to not devalue currencies to boost trade. They do see a firming of growth next year.  Associated with the meeting:  North Korea can join if they de-nuke and meet some economic-openess standards, Pakistan has supposedly reached a deal for an IMF bailout package, and Greece is on track to repay €3.7B in IMF loans early. Daimler -.3% underperformed the space on continued diesel-related investigations with 60k GLK SUV’s said to have been downloaded with emission-test-cheating software.   Said vehicles were already in focus within the prosecutor’s probe.  In other news the firm is producing an electric SUV with their Chinese partner BAIC. EDF +3% worked higher with French president Macron considering a partial renationalization of the…

As the US celebrates Tax Day and the fact that the average American still has more work days ahead to pay for said taxes European indices closed slightly higher. The skew concerning sectors was to the upside with Telcos leading while Basic Resources slipped.  The Energy complex finished off slightly with oil prices lower today. From this weekend the IMF said global growth was expanding at a slower pace than seen last October.  WTO reform needs and trade woes were cited with pledges from members to not devalue currencies to boost trade. They do see a firming of growth next year.  Associated with the meeting:  North Korea can join if they de-nuke and meet some economic-openess standards, Pakistan has supposedly reached a deal for an IMF bailout package, and Greece is on track to repay €3.7B in IMF loans early. Daimler -.3% underperformed the space on continued diesel-related investigations with 60k GLK SUV’s said to have been downloaded with emission-test-cheating software.   Said vehicles were already in focus within the prosecutor’s probe.  In other news the firm is producing an electric SUV with their Chinese partner BAIC. EDF +3% worked higher with French president Macron considering a partial renationalization of the…

CAPIS EU Close – 4/12/2019

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posted by Clayton Duff on 04/12/2019 at 12:47 pm
by Clayton Duff on 04/12/2019

Markets have taken a positive view of the strong Chinese export data despite the growing trade balance with the US.  Imports fell but Aggregate financing was a trillion yuan ahead of estimates.  European indices finished near highs with a stronger US market helping sentiment.  Autos continued to lead from earlier, up nearly 2% as were Banks. Basic Resources finished 120 bps better with roughly half of the sectors higher.  Healthcare finished down just over a percent.  Of interest, the ECB is not too keen on using tiered deposit rates but may instead consider negative rates to bank via a TLTRO. Carl Zeiss +6.6% holders viewed gains on a positive 1H and FY outlook.  EBIT margins are seen up 15-17%. Shortsellers cleaned up on Plus500 -31% today after 1Q revs disappointed.   The firm blamed extremely subdued markets along with customers being profitable as the company makes spread-betting. Thomas Cook slipped 4.6% on an ominous move by a creditor.  One of its lenders is looking to offload £25M in exposure on a facility due in 2022.  The offer was being made at a 30% discount. For Monday India reports trade data with Rightmove House Price moves in the UK.

Markets have taken a positive view of the strong Chinese export data despite the growing trade balance with the US.  Imports fell but Aggregate financing was a trillion yuan ahead of estimates.  European indices finished near highs with a stronger US market helping sentiment.  Autos continued to lead from earlier, up nearly 2% as were Banks. Basic Resources finished 120 bps better with roughly half of the sectors higher.  Healthcare finished down just over a percent.  Of interest, the ECB is not too keen on using tiered deposit rates but may instead consider negative rates to bank via a TLTRO. Carl Zeiss +6.6% holders viewed gains on a positive 1H and FY outlook.  EBIT margins are seen up 15-17%. Shortsellers cleaned up on Plus500 -31% today after 1Q revs disappointed.   The firm blamed extremely subdued markets along with customers being profitable as the company makes spread-betting. Thomas Cook slipped 4.6% on an ominous move by a creditor.  One of its lenders is looking to offload £25M in exposure on a facility due in 2022.  The offer was being made at a 30% discount. For Monday India reports trade data with Rightmove House Price moves in the UK.

CAPIS EU Close Recap – March 4th, 2019

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posted by Clayton Duff on 03/04/2019 at 1:00 pm
by Clayton Duff on 03/04/2019

European indices held in well in the face of US indices shaking off early moves and working lower.  Across Europe moves were subdued with a bias toward small gains on the day. Roughly 2/3 of the Stoxx 600 sectors closed better with Media and Construction up while Travel names lagged.  Volume in the Stoxx 600 was off 15%. UK construction names moved up despite UK Markit Construction PMI falling to under the expansion/contraction level. Ferguson +.6%, Bovis Home +1.4%, Persimmon +1.1%. Industrial firm Rotork closed down 3.5% after they announced slower growth is expected for this year.  Sales growth is seen as modest as the 1H missed YoY.  The firm is doing a system assessment to increase performance. Travel names lagged with IAG off 4.8% as they see free cash flow for 2019 under 2018 levels. From earlier: Nordea -3.5%, Ahold Delhaize -2.4%, Novo Nordisk -.3%, Fresenius Medical -2.2%, CNH +.5%, Daily Mail +4.5%. Tonight, Caixin PMI Services/Composite levels will be released in China and in Japan.  HK PMI is also out with the country hoping to move out contraction.  SK is out with GDP figures with the RBA to announce rates Down Under.  PMI readings are due as well…

European indices held in well in the face of US indices shaking off early moves and working lower.  Across Europe moves were subdued with a bias toward small gains on the day. Roughly 2/3 of the Stoxx 600 sectors closed better with Media and Construction up while Travel names lagged.  Volume in the Stoxx 600 was off 15%. UK construction names moved up despite UK Markit Construction PMI falling to under the expansion/contraction level. Ferguson +.6%, Bovis Home +1.4%, Persimmon +1.1%. Industrial firm Rotork closed down 3.5% after they announced slower growth is expected for this year.  Sales growth is seen as modest as the 1H missed YoY.  The firm is doing a system assessment to increase performance. Travel names lagged with IAG off 4.8% as they see free cash flow for 2019 under 2018 levels. From earlier: Nordea -3.5%, Ahold Delhaize -2.4%, Novo Nordisk -.3%, Fresenius Medical -2.2%, CNH +.5%, Daily Mail +4.5%. Tonight, Caixin PMI Services/Composite levels will be released in China and in Japan.  HK PMI is also out with the country hoping to move out contraction.  SK is out with GDP figures with the RBA to announce rates Down Under.  PMI readings are due as well…

CAPIS Global Markets 2/12/2019

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posted by CAPIS on 02/12/2019 at 12:53 pm
by CAPIS on 02/12/2019

Asian Markets The core Asian markets had a solid day especially Japan which need to play catch up following yesterday’s holiday.  Peripherals lagged.  Continued trade talk optimism is being given additional by a tentative budget/border agreement in the States.  The majority of sectors finished the day to the upside.  Healthcare led followed by gains of at least 1% among industrials, consumer discretionary, materials and IT.  Real estate was the only laggard of note giving ground by c. 0.3%. The BoJ is reducing JBG purchases in the 10 to 25 yr. maturity range.  The central bank is doing so to halt falling yields.  Ironically, today marks the 2o year anniversary of its extensive quantitative easy policy (CNBC). Other Headlines from the Region The healthcare gains were primarily drive by Chinese pharmaceutical companies.  China is pledging various incentives for companies to develop cancer and rare disease treatments. Toshiba -5.9% confirmed yesterday’s Nikkei report the company needed to cut it OP outlook. NCSoft’s -4.2% NI and OP are below the range of estimates.   Revenues are below consensus but at least within the range.  The company’s newer game offerings have lagged projections. Geely Auto’s +4.4% January sales rose 2%, beating estimates in both wholesale and…

Asian Markets The core Asian markets had a solid day especially Japan which need to play catch up following yesterday’s holiday.  Peripherals lagged.  Continued trade talk optimism is being given additional by a tentative budget/border agreement in the States.  The majority of sectors finished the day to the upside.  Healthcare led followed by gains of at least 1% among industrials, consumer discretionary, materials and IT.  Real estate was the only laggard of note giving ground by c. 0.3%. The BoJ is reducing JBG purchases in the 10 to 25 yr. maturity range.  The central bank is doing so to halt falling yields.  Ironically, today marks the 2o year anniversary of its extensive quantitative easy policy (CNBC). Other Headlines from the Region The healthcare gains were primarily drive by Chinese pharmaceutical companies.  China is pledging various incentives for companies to develop cancer and rare disease treatments. Toshiba -5.9% confirmed yesterday’s Nikkei report the company needed to cut it OP outlook. NCSoft’s -4.2% NI and OP are below the range of estimates.   Revenues are below consensus but at least within the range.  The company’s newer game offerings have lagged projections. Geely Auto’s +4.4% January sales rose 2%, beating estimates in both wholesale and…

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