In After Hours Trading
IPOs on deck: CF Acquisition Unit (CFFAU)
Secondaries on deck: AMTB BHVN HASI MRNS TOCA VBIV
Secondaries Announced: VBI HASI
Mixed Shelf Offering: GNTY
IPO Filing: none of note.
Earnings From After the Close:
Surprises: TLRD +0.07
Misses: NDSN (0.03), OXM (0.03)
Lower Guidance: TLRD OXM
Mixed Guidance: NDSN
News After The Close:
Synovus (SNV) names Kevin Blair COO immediately.
Mr. Cooper Group (COOP) names Christopher Marshall CFO immediately.
Farm Bill passes House 369-47.
Dividend Raises: ZTS XAN WGO PK CNP
What’s Happening This Morning:
U.S. futures: S&P +11.25, Dow Jones +52, NDX +58 and Russell 2000 +5.40 with fair values LOWER ADDING TO GAINS. Asia and Europe higher.
Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 120.22 with yields flat since Tuesday morning. Prices as of 7:55 a.m. EDT.
Top Sectors Wednesday: Conglomerates, Technology and Healthcare.
Weakest Sectors Wednesday: Utilities, barely down -0.1%.
One Month Winners: Utilities.
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: ADBE COST FIZZ CIVI.
Earnings Due Friday Morning: None of note.
Rags & Mags:
Earnings Reported This Morning:
Surprises: CIEN +0.05
Yesterday saw 1944 stocks rise and 1000 fall on the NYSE. NASDAQ saw 2082 rise and 1012 fall.
The SP 500 is back below its 50 day simple moving average and its 200 day simple moving average. 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. We are in watch mode to get back to a buy.
YTD 34% (-5%) of stocks are higher and 66% (+5%) are lower. Updated 12/07/18 close with next update on 12/14/18 close.
Economic & Related:
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
There will be a $16 billion 30 year Treasury Auction at 1:00 p.m. EDT.
The latest Treasury Budget is out at 2:00 p.m. EDT.
President Trump to be interviewed by Fox News at 1:00 p.m. EDT.
Senate to vote to end support for Saudi war efforts in Yemen.
Conferences & Analyst Meetings:
Analyst Meetings: EZPW DAL FLS RYTM DHR BECN HIIQ SBUX CSTM EQT CPRX
Suntrust RH Financial Technology, Business & Government Services Conference
SEMICON Japan 2018
M&A News & Rumors
Ball Corp (BLL) sells Chines Beverage Can & End Manufacturing Facilities for $225 million.
General Electric (GE) to sell ServiceMax to SilverLake.
Upgrades & Downgrades