In After Hours Trading
IPOs on deck: One IPO due out this week IMAC Holdings Unit.
Secondaries on deck: Mercantile Bank Holding (AMTB) of note so far this week.
Filings After The Close: common stock; convertible; AMC EOG KALV RLGT mixed shelf offering.
IPO Filing: none of note.
Earnings From After the Close:
Surprises: none of note
Misses: none of note
News After The Close:
FDA approves sNDA to expand Supernus Pharmaceutical (SUPN) Oxteller XR Label to include monotherapy.
FDA approves sBLA for Amgen (AMGN) Nplate use in pediatric patients with immune thrombocytopenia.
Fitch affirms ratings on Ireland, Denmark and Turkey.
OSI Systems gets $450 million Defense Logistics Agency contract.
President Trump names new Chief of Staff, Mick Mulvaney.
Secretary of the Interior Ryan Zinke will leave by end of the year.
District Court Judge in Texas rules ACA unconstitutional, could be heard by Supreme Court.
It is reported by The New York Times Commerce Secretary Wilbur Ross could be leaving the Trump Administration.
Dividend Raises: MORN TEL
Dividend Cuts: ANH
New Repurchase Announcements: CAL TEL LBC
Hourly Action This Past Week:
It was a rather dismal week with every hour but 12:00-1:00 p.m. EDT down for the week.
What’s Happening This Morning:
U.S. futures: S&P -5.75, Dow Jones -84, NDX -13.25 and Russell 2000 -2.50 with fair values LOWER LIMITING LOSSES. Asia higher and Europe lower.
Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 120.47 with yields flat since Friday morning. Prices as of 8:25 a.m. EDT.
Top Sectors Friday: None of note.
Weakest Sectors Friday: Healthcare, Materials, Conglomerates, Services and Technology.
One Month Winners: Utilities
Three Month Winners: Utilities.
Six Month Winners: Healthcare and Utilities.
Twelve Month Winners: Healthcare 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: ORCL RHT HEI.
Earnings Due Tuesday Morning: DRI FDS NAV WOR CVGW.
Rags & Mags:
Five Things You Need To Know To Start Your Day. (Bloomberg)
A year after tax cuts, how corporations spent or did not spend their money. (The Washington Post)
Earnings Reported This Morning:
Surprises: None of note this morning.
Yesterday saw 618 stocks rise and 2321 fall on the NYSE. NASDAQ saw 734 rise and 2337 fall.
The SP 500 is still 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 at 2642.21. For a move to cash, the 10DMA needs to have two days in row below -200. The move to cash has worked.
YTD 39% (+3%) of stocks are higher and 60% (+1) are lower. Updated 12/14/18 close with next update on 12/21/18 close.
Yesterday saw the S&P 500, Dow Jones Industrial Average and the Russell 2000 all closed below support. It was simply an ugly day .
The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range.
December Empire State Manufacturing Survey is released at 8:30 a.m. EDT and is expected to fall to 20.2 from 23.3.
National Association of Homebuilders releases its NAHB/Wells Fargo Housing Index and it is expected to remain at 60 when released at 10:00 a.m. EDT.
Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well Empire Manufacturing, NAHB Index, housing starts, existing home sales, leading indicators, durable goods, personal income and Michigan Sentiment
Reserve Bank of Australia (RBA) latest minutes were out at 4:00 a.m. EDT.
Tuesday sees the FOMC begin a two day meeting with announcement and press conference on Wednesday. Thursday sees the BOJ and BOE out with their latest decisions.
Federal Reserve speakers in quiet mode until post FOMC.
Conferences & Analyst Meetings:
Analyst Meetings: STNX EQH LPTX ALB CSCO ACHN INNT BRKR.
M&A News & Rumors
Upgrades & Downgrades