In After Hours Trading
IPOs on deck: IPOs will pick back up in the next couple weeks now that we are in 2019. Government shutdown may delay filings.
Secondaries on deck: ALNY ARR BPTH priced this morning.
IPO Filings After The Close:
Secondary Filings: ALNY XLRN ARR ENR STML commom stock; EVBG ENR CIM mixed shelf offering. CHTR senior notes.
Earnings After The Close:
Beat: none of note
Missed: none of note
Guidance Raised: DAVE TDC
Guidance Cuts: TTMI CTRN MGA
Repurchase Announcements: FFBC
News After The Close:
J.C Penny (JCP) announces a variety of changes and new position hires it is looking to make. Is JCP the next bankruptcy?
Micron (MU) to purchase Intel’s interest in IM Flash Technologies JV for $1.5 billion.
Genworth (GNW) acquisition of China Oceanwide Holdings approved by NY State Department of Financial Services.
Department of Justice concludes review of merger of Wabtec (WAB) and GE Transportation.
Hourly Action This Past Week:
Stocks had another positive day with some more weakness than seen in the past two weeks but still decent.
What’s Happening This Morning:
U.S. futures: S&P +1.50, Dow Jones -26, NDX +23 and Russell 2000 +2.50 with fair values HIGHER CUTTING INTO GAINS. Asia mostly higher. Europe modestly higher this morning.
Gold lower with silver and copper up slightly. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 122.06 with yields higher since Monday morning with the yield at 2.688%. Prices as of 8:15 a.m. EDT.
Top Sectors Monday: Financials.
Weakest Sectors Monday: Utilities, Healthcare and Technology.
One Month Winners: Industrials and Financials.
Three Month Winners: Utilities.
Six Month Winners: None of note.
Twelve Month Winners: Utilities.
Year to Date: All higher.
Upcoming Earnings Of Note:
Tuesday After The Close: UAL PNFP FULT.
Wednesday Before The Open: BAC USB GS BLK PNC BK CMA WAFD.
Earnings This Morning Of Note:
Beat Estimates: UNG +.06 WFC +.05 DAL +.04 INFO +.02 .
Missed Estimates: None of note. JPM -0.21 SNV -.01
Rags & Mags:
Top Story: Brexit vote on tap for today. Market reaction uncertain. (CNBC)
Trump Tweets Of Note: None of note today.
Yesterday saw 1083 stocks rise and 1818 fall on the NYSE. NASDAQ saw 964 rise and 2100 fall.
The SP 500 remains 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 average and 200 day simple moving average. All three indexes are now above their 10 and 20 day moving averages. All three indexes failed at their 5 day moving average yesterday.
The QPI10 Day Moving Average of Breadth (10DMA) moved to buy last Monday at 2549.69. For a move to a buy from cash, the 10DMA needed to have two days in row above +200 which happened last Monday.
YTD 86% of stocks are higher and 14% are lower. Updated 1/11/19 close with next update on 1/18/19 close. First tracking of 2019.
Yesterday saw the Dow Jones Industrial Average, S&P 500 and the Russell 2000 struggle for the first time in quite a while.
The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range.
Economic & Related:
December PPI is due out at 8:30 a.m. EDT to be released and expected to fall to -0.1% from 0.1%. Came in at -0.2%.
The NY Empire State Manufacturing Survey is due out at 8:30 a.m. EDT as well and is expected to rise to 12.2 from 10.9. Came in at 3.9.
The government shutdown remains in effect and now workers have missed a payroll.
Fed speakers today include Minneapolis President Neel Kashkari, Kansas City President Esther George and Dallas President Robert Kaplan as reported by Bloomberg with no specific times.
Conferences & Analyst Meetings:
Analyst Meetings/Notable Conference Call: BNP Spain Investor Day. CCC (conference call).
Sellside Conferences: Morgan Stanley Annual Latin America Executive Conference. TD Securities Energy Conference. Wolfe Research Global Auto Industry Conference. Needham Annual Growth Conference.
Industry Conferences: ICR Exchange Conference 2019.
M&A News & Rumors:
Millicom International Cellular (TIGO) confirms potential bid for the company .
Zix Corp (ZIXI) to buy AppRiver for $275 million.
Upgrades & Downgrades:
Best Upgrade Call of the Day: AKAM as down over $20 from peak.
Worst Downgrade Call of the Day: EIX as the downside of PCG is built into the stock.
Gap Up and Downs Pre Market: Winners: ARRY +8% PLAY +6% EXEL +5% Losers: PCG -10% ALNY -6% STML -4%.