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12.10.2018 19 new posts under International Summary (9), Morning Note (9), CAPIS Headlines (1)

Morning Note

News

Morning Note

"Morning Note – 11/29/18"

posted by CAPIS on 11/29/2018 at 7:46 am

by CAPIS

11/29/2018 at 7:46 am

In After Hours Trading

IPOs on deck: none of note:.

Secondaries on deck: ATO CUB I NCLH NDLS SJW.

Filings After The Close: ATO WRTC  I common stock, EYPT mixed shelf offering.

Courtesy of IPO Financial

Earnings From After the Close: none of note.

Surprises:  LZB +0.04 , VEEV +0.03 , GBDC +0.02 , SMTC +0.02 , BOX +0.01 , TLYS +0.01.

Misses: GES (0.03), DSGX (0.02) .

Flat:

Lower Guidance

Mixed Guidance: IIIV SMTC TLYS VEEV.

Strong Guidance:.

News After The Close:

Dell (DVMT) reported after the close that they were compromised and hackers stole personal data.

Hourly Action This Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P -6.25, Dow Jones -35, NDX -30.25 and Russell 2000 -5 with fair values HIGHER CUTTING WORSENING LOSSES. Asia lower and Europe higher.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price 119.53 with yields lower since Wednesday morning. Prices as of 7:55 a.m. EDT.

Top Sectors Wednesday: All Sectors higher led by Services, Technology, Industrials and Healthcare.

Weakest Sectors Wednesday: None but Utilities were flat.

One Month Winners: Services, Healthcare and Technology..

Three Month Winners: Utilities

Six Month Winners: Healthcare and Utilities.

Twelve Month Winners: Healthcare, Services and Conglomerates

Year To Date Winners: Healthcare, Services, Conglomerates and Utilities.

Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)

Earnings Expected After The Close: HPQ WDAY VNW PANW SPLK PVH GME AMBA .

Earnings Due Friday Morning: BIG SFUN CTRN.

Rags & Mags:

Five Things To Know Before You Start Your Day. (Bloomberg)

Deutsche Bank (DB) offices raided in Germany over money laundering. (WSJ )

Crude Oil Drops Under $50 For First Time Since October 2017. (WSJ)

President Trump renews auto tariff threat. (Bloomberg)

Don’t Count on the Fed Saving Stocks Again (Bloomberg)

Resilient Russian Oil Companies Give Putin Leverage With OPEC. (Bloomberg)

Trump’s night-owl calls to Roger Stone in 2016 draw scrutiny in Mueller probe. (The Washington Post)

Bond Market Signals Weakening Case for Interest Rate Increases. (The New York Times)

Earnings Reported This Morning:

Surprises:  TECD +0.85 , TITN +0.13 , ANF +0.12 , HMLP +0.07 , DLTR +0.04 , DAVA +0.04 , YETI +0.03 , KIRK +0.02 , EXPR +0.01 , TD +0.01.

Flat:

Misses:  AMWD (0.27), CM (0.04)

Lower Guidance: EXPR.

Mixed Guidance: KIRK.

Strong Guidance: DAVA TECD TITN YETI.

Date Points:

Yesterday saw 2368 stocks rise and 570 fall on the NYSE. NASDAQ saw 2436 rise and 660 fall.

The SP 500 is still below its 50 day simple moving average and its 200 day simple moving average (2762.39). The Russell 2000 is still below its 50 day simple moving exponential average and 200 day simple moving average.

The QPI10 Day Moving Average of Breadth (10DMA) moved to cash last Wednesday morning (11/21). For a move to cash, the 10DMA needs to have two days in row below -200.

YTD 36% (-3%) of stocks are higher and 61% (+1) are lower. Updated 11/23/18 close with next update on 11/26/18.

Courtesy of Quantitative Partners, Inc.

Trading:

Yesterday saw the S&P 500 close above resistance while the Dow Jones Industrial Average finished resistance to pivot. The Russell had been showing intraday strength for last week against the S&P 500 and Dow Jones but failed yesterday as it closed right under support. Still a decent day after Monday’s blowout to the upside.

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show were we closed within the range. This morning looks to be  gap open above resistance. Of late, most gap opens have failed in short order. Will today start a new trend?

Technical Screen Of The Day:

Today we look at stocks that saw their 5 day moving average cross above the 20 day moving average  from Wednesday’s Close. We are only looking at market caps above $10 billion. We also have included some proprietary data from Erlanger Chart Room.

Courtesy of Phil Erlanger Research, Inc. 

Economic:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

October Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.4% from 0.2%.

Weekly Natural Gas Inventories are due out at 10;30 a.m. EDT.

Politico:

Federal Reserve Open Market Committee (FOMC) Minutes are due out at 2:00 p.m. EDT.

At the same time, Federal Reserve Cleveland President Loretta Mester and Chicago President Charles Evans speak. Coincidence?

Conferences & Analyst Meetings:

Analyst Meetings: DGX NR CVNA ACIW T.

Sellside Conferences:

Credit Suisse Annual Technology, Media and Telecom Conference (11/26-11/29)

Evercore ISI HealthCONx (11/27-11/29)

Piper Jafray Healthcare Conference (11/27-11/29)

Credit Suisse Annual Industrials Conference (11/27-11/29)

Deutsche Bank dbAccess Pharmaceuticals and Healthcare Corporate Day (11/29).

RBC Small Cap Conference (11/29)

Benchmark Discovery 1 on 1 Conference (11/29)

M&A  Activity And Credible Rumors of Note Overnight:

Former Qualcomm (QCOM) Chairman still interested in potential purchase of Qualcomm (QCOM).

Upgrades & Downgrades

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