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Morning Note

News

Morning Note

"Morning Note – 2/13/19"

posted by CAPIS on 02/13/2019 at 7:26 am

by CAPIS

02/13/2019 at 7:26 am

In After Hours Trading

IPOs on deck:  Five on deck for this week including Avedro, Cibus Global, Stealth BioTherapeutics, TCR2 Therapeutics and Virgin Trains USA LLC.

Secondaries on deck: Secondaries to be priced this morning G GLIBA MGNX. 

IPO Filings After The Close  No common stock offerings today.  

Announcements For Secondary Filings & FinancingsCSX files mixed shelf offering. EGHT files convertible notes.

Courtesy of IPO Financial

Earnings After The Close:

Beat: AIZ +0.35, ATVI +0.31, UIS +0.31, EXEL +0.14, QLYS +0.11, GTES +0.09, ACGL +0.08, AKAM +0.07, HUBS +0.07, SPSC +0.07, JCOM +0.07, BFAM +0.06, OXY +0.06, BXMT +0.04, REXR +0.02, SHO +0.02, RPAI +0.01, CSOD +0.01

Flat: AVLR, TWLO, LSCC, DENN, UDR, DEI, MPWR

Missed: RRR (0.21), IRTC (0.16), CRAY (0.15), CNO (0.14), QUOT (0.12), AQ (0.10), KRNT (0.04), TRIP (0.01)

Positive Guidance:  AVLR IRTC JCOM LSCC RPAI.

Mixed Guidance: ATVI AKAM CSOD HUBS QLYS SPSC TWLO UDR UIS.

Negative Guidance: AQ CRAY GTES MPWR QUOT. 

Dividend Increases: IPG

Stock Repurchase Announcements: CMPR

News After The Close:

Cleveland Cliffs (CLF) names Keith Koci as CFO.

Zayo Group (ZAYO) names Jack Waters as COO.

Hourly Action This Past Week:

Intraday action remains strong since the beginning of the year. However last week saw mixed action and that continued yesterday as we trading off from the first hour high.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures 

U.S. futures: S&P +6.75, Dow Jones +75,  NDX +31.25 and Russell 2000 +3.60  with fair values MIXED  Asia  and Europe modestly higher (for country change click through)

Gold up slightly and silver lower slightly with copper up slightly. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 121.94 with yields lower since Tuesday morning with the yield at 2.684%. Prices as of 8:15 a.m. EDT.

Top Sectors Tuesday: All lead by Industrials, Technology, Materials and Healthcare.

Weakest Sectors Tuesday: None.

One Month Winners:  Industrial Goods, Technology, Utilities, Consumer Goods and Financial.

Three Month Winners: Utilities,Technology and Industrials.

Six Month Winners: Utilities.

Twelve Month Winners: Utilities, Healthcare and Conglomerates.

Year to Date: All higher led by Industrial Goods, Conglomerates, Materials, Services, Technology and Financials.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest):

Today After The Close: CSCO AIG WMB EQIX MFC PXD WCN SLF NTAP MGM CTL IFF HCP.

Thursday Before The Open:  KO AZN DUK CME BAM ZTS WM TRP IQV PPL TU AEE INCY VMC.

Earnings This Morning Of Note:

Beat Estimates:  

Flat: None 

Missed Estimates: 

Rags & Mags:

Top Story: President Xi will meet with the U.S. Delegation on Friday. (South China Morning Post Report)

5 Things You Need To Know To Start Your Day (Bloomberg) –   Shutdown talks stall, China talks restart, U.K. economy weakens, markets slump and oil bears.

President Trump to sign government funding bill and then use executive power to build the wall. (Bloomberg)

Tesla (TSLA) to ship more cars than expected to China ahead of March 1st deadline. (Bloomberg)

Google (GOOGL) to build less expensive smart phone. (Nikkei Report)

IEA releases Monthly Oil Report. Market still working off oversupply.

Data Points:

Yesterday saw 2184 stocks rise and 693 fall on the NYSE. NASDAQ saw 2261 rise and 801 fall.

The SP 500 is still above its 50 day simple moving average and now above its 200 day simple moving average. The Russell 2000 is also above its 50 day simple moving average but below its 200 day simple moving average. The Dow is also above its 50 day simple moving average  and also above its 200 day simple moving average.  All three indexes are now above their 10 and 20 day moving averages. All three indexes have retaken their 5 day moving average.

The QPI10 Day Moving Average of Breadth (10DMA) moved to buy on January 7th at 2549.69. For a move to a buy from cash, the 10DMA needed to have two days in row above +200 which happened January 7th. The next move will be to cash or sell which right now seems a long ways off. Yesterday was not as strong on the a/d line as it should have been given the index moves.

Courtesy of Quantitative Partners, Inc

YTD  86% of stocks are higher and 12% are lower. Updated 2/8/19 close with next update on 2/15/19 close.

Courtesy of Phil Erlanger Research, Inc.

Trading:

Yesterday saw the open be the low which is very bullish. In addition, all indexes closed above resistance.

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:

Weekly API Petroleum Institute numbers were out after the close on Tuesday and Crude Oil had a draw of 0.998 million barrels and Gasoline had a build of 0.746 million barrels.

Weekly MBA Mortgage Applications fell -3.7% from -2.5% in the prior week.

January CPI is due out at 8:30 a.m. EST and is expected to rise to 0.1% from -0.1%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EST.

The December Treasury Budget is expected to improve to $-11.0 billion from $-23.2 billion and is due out at 2:00 p.m. EST.

Politico:

U.S. and China Mid Level TradeTalks in China continue with President Xi now to meet with the U.S. Delegation on Friday.

The House may vote on the Government Funding Bill today.

The Senate may force a vote on the Green Bill.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: SBCF (investor day), EXTR (investor day), 

Sellside Conferences Credit Suisse Annual Financial Services Forum. Credit Suisse Annual Energy Conference.Goldman Sachs Technology & Internet Conference. Stifel Transportation and Logistics Conference. Bank of America Merrill Lynch Insurance Conference.

Industry Conferences:Daytona Speedweeks, Chicago Autoshow, PETROTECH 2019, and BIO CEO & Investor Conference.

M&A News & Rumors:

Significant Upgrades (to buy) & Downgrades (to sell or underweight)

Pre-Market Movers:

Winners: LSCC +15%, UIS +12%, JCOM +11%, EXEL +9%, IRTC +6%,

Losers: AQ -17%, QLYS -17%, QUOT -12%, GRPN -10%, CRAY -9%, CSOD -5%, TRIP -5%, 

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.