11.21.2019 10 new Morning Note posts under Morning Note (9) and General (1)

Morning Note


Morning Note

"Morning Notes – 12/4/18"

posted by CAPIS on 12/04/2018 at 7:44 am


12/04/2018 at 7:44 am

In After Hours Trading

IPOs on deck: none of note.

Secondaries on deck: none of note.

Filings After The Close: FRAC UDR RMR common stock; ALNA SPRO RMR mixed shelf offering; BIDU debt offering.

IPO Filing:.

Courtesy of IPO Financial

Earnings From After the Close: none of note.

Surprises: RH +0.46 COUP +0.11                SMA +0.07



Lower Guidance:

Mixed Guidance: RH.

Strong Guidance: COUP SMAR.

News After The Close:

Cirrrus Logic (CRUS) cuts Q3 2019 outlook from $360-$400M to $300-$340M.

Senseonics (SENS) CFO to retire immediately.

Sonocco Products (SON) CFO Barry Saunders to retire in March of 2019. Replacement Julie Albrecht.

Kinder Morgan (KMI) announces 2019 financial projections.

E Trade (ETFC) elevates Chad Turner to role of CFO.

Bristol Myers (BMY) to will transfer $3.8 billion of retirement funds to a lump sum payment or annuity as it seeks to de-risk pension risk.

Belden (BDC) acknowledges SEC investigation into material weakness.

Federal Reserve releases Powell’s testimony statement for Wednesday which was cancelled for national day of mourning.

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P -11, Dow Jones -120, NDX -39 and Russell 2000 -4 with fair values HIGHER CUTTING INTO GAINS. Asia and Europe lower.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 119.80 with yields lower since Monday morning. Prices as of 7:55 a.m. EDT.

Top Sectors Monday: All lead by Materials, Conglomerates, Services and Industrial Goods.

Weakest Sectors Monday: None.

One Month Winners: Healthcare, Utilities, Financials, Services and Technology.

Three Month Winners: Utilities and Healthcare.

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: COUP SMAR MESA.

Earnings Due Tuesday Morning: BMO DG AZO HDS DCI AVYA CONN GMS MOV BNED.

Rags & Mags:

NYSE and NASDAQ Closed on Wednesday For National Day of Mourning For President George H.W. Bush (Bush 41)

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

Bond market begins to invert at the short end. (CNBC)

Commerce Secretary Wilbur Ross interviewed on CNBC this morning. (CNBC)

Apple (AAPL) offers trades in and promotional deal to drive iPhone sales. (Bloomberg)

Wisconsin Republican Legislature about to limit power of incoming Democrats. (NYT)

Oil bounces higher on supply tightening. (WSJ)

6 Stocks To Watch Post G-20. (Barron’s)

Add Pension Problem To General Electric’s (GE) growing concerns. (Barron’s)

Tesla (TSLA) and Paypal (PYPL) are near buy points with strong relative strength. (IBD)

Earnings Reported This Morning:

Surprises: AZO +1.25, TOL +0.24, MOV +0.06, HDS +0.01, BMO +0.01


Misses: GMS (0.05), DG (0.01), DCI (0.01)

Lower Guidance:

Mixed Guidance:

Strong Guidance:

Date Points:

Yesterday saw 2188 stocks rise and 753 fall on the NYSE. NASDAQ saw 2016 rise and 1072 fall.

The SP 500 broke above its 50 day simple moving average and its 200 day simple moving average on Monday. 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 on 11/21. For a move to cash, the 10DMA needs to have two days in row below -200. It is back to positive at 33.

YTD 39% (+3%) of stocks are higher and 60% (+1) are lower. Updated 11/30/18 close with next update on 12/7/18 close.

Courtesy of Quantitative Partners, Inc.


Yesterday saw the S&P 500, Dow Jones Industrial Average and the Russell 2000 all close above resistance with a confidence score of 100%. That said, no index was able to close above its 5 minute range so it failed to be a complete rip for the day.

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range.

Courtesy of Phil Erlanger Research, Inc


November Monthly Car and Truck sales are due out at 2:00 p.m. EDT.


The Reserve Bank  of Australia (RBA) left interest rates unchanged.

Federal Reserve Chairman Powell testimony  before the Joint Economic Committee about the outlook of the economy was cancelled for Wednesday. It has not been rescheduled.

President Trump to meet with German automakers at 1:00 p.m. EDT.

Conferences & Analyst Meetings:


Sellside Conferences:

Raymond James Technology Conference

UBS Global Media and Communications Conference

Bank of America Merrill Lynch Leveraged Finance Conference

Macquarie Group Asian Internet, Media and Education Conference

Goldman Sachs U.S. Financials Services Conference

NASDAQ Annual Investor Conference

Wells Fargo Pipeline, Midstream and Utility Symposium

Citi Global Consumer Conference

Capital One Annual Energy Conference

Industry Conferences:

LD Micro Annual Conference

American Society of Hematology

American Epilepsy Annual Meeting

M&A News & Rumors

Altria (MIO) in talks to buy Canadian Company Cronos Company.

Upgrades & Downgrades

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