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Market Tone:  Lots of back and forth the last couple of weeks after the initial bounce off the September lows. Expect volatility to continue into the election. Covid-19 Statistics: Total Cases 8,660,366 Recovered 3,460,455 Deaths 217,418 Tests 1,153,040 New Cases 62,315 with positivity rate +6% Daily Deaths 890 Current Hospitalizations 42,917 Capital Raises: IPOs Priced: None of note. Secondaries Priced:  TPTX  of note. Notes Priced of note:  None of note. Common Stock filings:  MRTX of note. Selling Shareholders of note:  ALTG MRTX  of note. Mixed Shelf Offerings: None  of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: OMF +0.93, SSD +0.55, LRN +0.54, MC +0.51, UIS +0.44, TNET +0.40, FIX +0.34, IBTX +0.33, HTLF +0.31, CR +0.25, AGNC +0.24, VRNS +0.19, PKG +0.16, ACC +0.16, TBI +0.16, BYD +0.15, AMKR +0.11, CATY +0.11, BRO +0.09, HLIT +0.08, TWLO +0.08, CHGG +0.07, FFIV +0.06, HSTM +0.04, PCH +0.03, QTS +0.01  of note. Flat: ARE 0.00, CINF 0.00, TCF 0.00 Misses: NXPI (1.68), PFG (0.55), AJRD (0.08), MEDP (0.07), NOV (0.04)  of note. News After The Close: SkyWest (SKYW) COO Mike Thompson will retire immediately.’ TCF Financial (TCF) CEO Craig R. Dahl to retire. Board elects Vice Chairman…

This is an abbreviated note due to an internet outage. We will return to normal output on Monday. Have a great weekend. Market Tone: Yes we are done with the presidential debates and now it is 11 days to the election. Stimulus is fading by the minute until after the election. Expect volatile action through the week of November 6th. Earnings After The Close: Beats: SIVB +3.23, COF +2.97, SAM +1.79, HTH +1.17, ABCB +0.80, MAT +0.57, BJRI +0.45, WAL +0.32, EHTH +0.26, OZK +0.25, BOOM +0.18, VRSN +0.14, MANH +0.12, NXGN +0.10, RHI +0.08, EIG +0.07, PBCT +0.05, FFIN +0.05, FFBC +0.04, STX +0.03, VICR +0.03, ASB +0.01 of note. Flat: INTC +0.00 Misses: CLGX (0.15), LLNW (0.03)  of note. What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. S&P 500 +11 Dow Jones Industrial Average +86  NASDAQ +35  Russell 2000 +17.25 . Fair values are lower.  Asia mixed and Europe higher. Current VIX is at 28.11 from 28.65. 3 month VIX Future is at 29.30 from 29.61. Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower…

Market Tone: Stocks have been fading gains since last Friday. Same thing yesterday as the S&P 500 high was 3476 and closed at 3443. Once the market can put stimulus behind it then normal trading can return only to get volatile again election week. Volatility remains a clear and present issue. The deadline for a stimulus deal put in place by House Speaker Nancy Pelosi over the weekend has come and gone yet we are still talking about the deal. Can you say “kicking the can down the road”. Covid-19 Update With Latest Data From Monday  Total Cases 8,232,285 from 8,171,703 Recovered: 3,295,148 from 3,272,603 Deaths 212,678 from 211,846 Tests 906.932 from 1,200,056 Daily Deaths 832 from 780 Current Hospitalizations 39,230 from  37,744 source COVID tracking project Others sources of note Johns Hopkins Map Capital Raises IPOs Priced: Datto Holding (MSP) priced at $27.  Secondaries Priced:  None of note. Notes Priced of note:  None of note. Common Stock filings: APTX CWST REPL of note. Selling Shareholders of note:  Mixed Shelf Offerings: R of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: IRBT +2.27, THC +0.40, PNFP +0.35, NBHC +0.33, WDFC +0.29, CALX +0.21, UCBI +0.21, HWC +0.20, NAVI +0.20, FULT…

Market Tone: Stocks rebounded modestly last week  and were strong on Friday until about 2:30 p.m. EDT before a late afternoon sell-0ff. Volatility remains a clear and present issue. Covid-19 Update With Latest Data From Friday  Total Cases 8,113,984 from 7,939,566 Recovered: 3,234,138 from 3,177,397 Deaths 211,384 from 209,340 Tests 964,792 from 1,006,043 Daily Deaths 774 from 951 Current Hospitalizations 36.428 from 37,308 source COVID tracking project Others sources of note Johns Hopkins Map Capital Raises IPOs Priced:  Secondaries Priced:  None of note. Notes Priced of note:  None of note. Common Stock filings: None of note. Selling Shareholders of note: TXG Mixed Shelf Offerings: FLUX of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: None of note. Misses: None of note. News After The Close: AMC Networks (AMCX) names Donna Coleman as Interim CFO. U.S. Supreme Court to hear Census case on undocumented citizens. Barron’s + on EBAY AAPL while mixed on JPM GS C BAC . Dividend Increase:  Dividend Suspended:  Reinstates Or Initiates Buybacks:  Guides Higher:  Hourly Action –  Updated 10/15. What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. S&P 500 +10 …

Breaking News: Treasury Secretary Mnuchin says will give ground on virus testing in stimulus package. (CNBC) Market Tone: Stocks rebounded nicely last week and have been in sell mode the last two days with a third possible this morning. Covid-19 Update With Latest Data From Wednesday  Total Cases 7,876,324 from 7,817,857 Recovered: 3,155,794 from 3,124,593 Deaths 208,387 from 207,557 Tests 948,834 from 894,411 Daily Deaths 809 from 669 Current Hospitalizations 37,046 from 36,034 source COVID tracking project Others sources of note Johns Hopkins Map Capital Raises IPOs Priced: None of note. Secondaries Priced: VVIR SIBN of note. Notes Priced of note: None of note. Common Stock filings: SIBN of note. Selling Shareholders of note: LEAF AZRE Mixed Shelf Offerings:  AEE LEAF AZRE of note. Convertible Offering Files:  RDFN of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: SNBR +0.79, AA +0.08, WAFD +0.03 of note. Misses: UAL (0.62), PACW (0.25) of note. News After The Close: Fastly (FSLY) lowers Q3 Guidance and the stop gets hammered  of more than 20%. Will impact cloud related stocks. Albertsons (ACI) declares its first dividend. Vertex Pharmaceuticals (VRTX) stops Phase 2 Trial of VX-814. Allegheny Tech (ATI) sees outlook revised to negative by major credit agency…

It’s Prime Day at Amazon (AMZN)! Make sure to buy something today to help out the retailer. Market Tone: Stocks rebounded nicely last week and continue higher this morning. Earnings season has kicked off this morning and it was a strong start. Covid-19 Update With Latest Data From Monday  Total Cases 7,770,673 from 7,727,630 Recovered: 3,106,728 from 3,075,077 Deaths 206,881 from 206,597 Tests 1,003,578 from 943,645 Daily Deaths 663 from 986 Current Hospitalizations 35,056 from 34,028 source COVID tracking project Capital Raises IPOs Priced: None of note. Secondaries Priced:  None of note. Notes Priced of note: None of note. Common Stock filings: None of note. Selling Shareholders of note:  Mixed Shelf Offerings:  None of note. Convertible Offering Files:  None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: None of note. Misses: None of note. News After The Close: Walt Disney (DIS) to reorganize its media and entertainment businesses. Exelon (EXC) may separate its non-utility assets. Johnson & Johnson (JNJ) accused in lawsuit of misleading investors of Auris Health in merger agreement. Johnson & Johnson (JNJ) stops trial of Covid-19 vaccine as patient has negative reaction, no details. President Trump’s doctor notes that the president has had two negative days in a row of…

Breaking News:  Market Tone: Stocks rebounded nicely yesterday and continue higher but is still below its September peak by 161 points. Earnings season kick off next week (see earnings section). Monday will be a quiet day as the bond market will be closed Columbus Day Observances. Covid-19 Update With Latest Data From Thursday  Total Cases 7,566,106 from 7,511,236 Recovered: 3,021,252 from 2,999,895 Deaths 204,566 from 203,591 Tests 1,030,766 from 850,784 Deaths 975 from 916 Current Hospitalizations 32,124 source COVID tracking project Capital Raises IPOs Priced: None of note. Secondaries Priced:  None of note. Notes Priced of note: None of note. Common Stock filings: None of note. Selling Shareholders of note: SRNE Mixed Shelf Offerings:  None of note. Convertible Offering Files:  None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: None of note. Misses: None of note. News After The Close: Gap Stores (GPS) names Nancy Green as President and CEO of Old Navy. Apple (AAPL) extends Apple TV+ free trials for three months. Spirit (SAVE) issue warrant to U.S. Treasury in exchange for PSP support. Axios states that Trump wants a “big deal” on stimulus which conflicts this morning’s story from The Washington Post. Dividend Increase: KBH Dividend Suspended:  Reinstates…

Hint On Using the Morning Note: Do you ever want to go back in time and look at what happened on a particular day? Well you can with our Morning Note as the history of each note is posted on the Capis website along with the lead headline. Here is the link to that area of the website, capis.com/morning-note. Enjoy. Breaking News: Chief of Staff Mark Meadows not optimistic on a stimulus deal but can do individual bills. (Fox News) Market Tone: Stocks are rebounding from Tuesday late selloff caused by a series of tweets by President Trump (First Tweeter). This morning the president is trying to walk back those tweets. See Meadows comments above. Covid-19 Update With Latest Data From Tuesday  Total Cases 7,460,634 from 7,421,943 Recovered: 2,952,390 from 2,935,1421 Deaths 202,675 from 202,040 New Cases 38,696 from 38,103 Tests 815,372 from 929,827 Deaths 741 Current Hospitalizations 31,346 from 29,942 source COVID tracking project Capital Raises IPOs Priced: None of note. Secondaries Priced: CLSK DKNG of note. Notes Priced of note: None of note. Common Stock filings:  NSTG SWTX MREO GH CLSK  of note. Selling Shareholders of note: LINC Mixed Shelf Offerings: BEN of note. Convertible Offering Files: FVRR of note. Senior Notes…

Covid-19 Update With Latest Data From Friday  Total Cases 7,383,499 from 7,244,316 Recovered: 2,911,699 from 2,860,650 Deaths 201,712 from199,776 New Cases 38,267 from 45,694 Tests 934,726 from 899,458 Deaths 740 from 847 Current Hospitalizations 29,942 from 30,742 source COVID tracking project Capital Raises IPOs Priced: None of note. Secondaries Priced: None of note. Notes Priced of note: None of note. Common Stock filings: DCP DKNG of note. Selling Shareholders of note: DKNG Mixed Shelf Offerings:  DCP AGRX of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: None of note. Misses: None of note. Hourly Action – We continue with volatile action. Updated 10/2 close. News After The Close: Johnson & Johnson (JNJ) CEO says vaccine not likely until new year. President Trump was taken to Walter Reed hospital on Friday afternoon and remains there today. Medical doctors administered oxygen to the president as his oxygen levels fell. He is being treated with a variety of drugs. Ratings agency affirms Germany, France and Poland with outlook stable. MGM and Universal (CMCSA) delay release of latest  James Bond movie, No Time To Die. Visteon (VC) approves restructuring plan with job cuts as they file…

Correction Review – This morning we look at one of my favorite indicators RSI. The traditional RSI is 14 days and we use a 6 day to determine overbought and oversold. Recently we dipped under 30 and now have cleared that level. That gives us confidence the worst is over in the recent weakness. Covid-19 Update With Latest Data From Friday  Total Cases 7,198,589 from 7,154,198 Recovered: 2,840,688 from 2,813,305 Deaths 198,929 from 197,868 New Cases 44,431 from 36,947 Tests 784,478 from 812,773 Deaths 1,061 from 739 Current Hospitalizations 30.876 from 30,391 source COVID tracking project Capital Raises IPOs Priced:  Mission Produce (AVO) priced at $12 below range of $15 to $17. Pulmonx (LUNG) priced at $19 above range of $17 to $18. Secondaries Priced: IMXI  SUI BEAM PAR LAD NNDM of note. Notes Priced of note: None of note. Common Stock filings: LOGC of note. Selling Shareholders of note:  Mixed Shelf Offerings: None of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Earnings After The Close: Beats: None of note. Misses: None of note. Hourly Action – We continue with volatile action. Updated 9/30 close. News After The Close: Federal Reserve to extend measures to ensure large banks maintain…