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Morning Note

News

Morning Note

"Morning Note -2/19/19"

posted by CAPIS on 02/19/2019 at 7:40 am

by CAPIS

02/19/2019 at 7:40 am

Fun Fact & Considerations– Of the 4613 stock universe we track, 972 stocks are below $5 which is 21.07%.  How many will get back above $5 over and how many are headed to becoming penny stocks?

In After Hours Trading

IPOs on deck This Week:  Two on deck were scheduled for this week including  Acamar Partners Acquisition and DiamondPeak Holdings

IPOs on deck for Today: None of note.

Secondaries on deck: None of note. 

IPO Filings Announced After The Close  No common stock offerings filed today.  

Announcements For Secondary Filings & Financings  X AKS files mixed shelf offering.  DAL files a common stock offering.  

Courtesy of IPO Financial

Earnings After The Close:

Beat: NEXA +0.22 HOLI +0.10

News After The Close:

Canadian Solar (CSIQ) picked up three contracts in Alberta.

Fitch affirms Russia’s credit rating for Long Term Foreign & Local Currency at BBB-.

Sonic Automotive (SAH) guides lower after the close to $0.74 to $0.78 from $0.89.

Dividend Increase: UPS

Stock Repurchase Announcement: ORCL ($12 billion)

Hourly Action This Past Week:

Intraday action remains strong since the beginning of the year. However last week and now this week have seen mixed action. Intraday action usually leads trend changes.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures 

U.S. futures: S&P -7, Dow Jones -47,  NDX -15.50 and Russell 2000 -5.70  with fair values LOWER LESSENING LOSSES.  Asia mixed  and Europe lower (for country change click through)

Gold, silver and copper higher. WTI Crude higher and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 122.05 with yields lower since Friday morning with the yield at 2.664% from 2.657%. Prices as of 8:10 a.m. EDT.

Top Sectors Friday: Industrial Goods, Healthcare, Financial and Materials.

Weakest Sectors Friday: Conglomerates.

One Month Winners:  Industrial Goods, Technology, Consumer Goods and Services.

Three Month Winners: Technology, Industrials, Utilities and Services.

Six Month Winners: Utilities, Healthcare and Industrials.

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: CXO FE VRSK AWK FANG HST DVN HLF TXRH.

Wednesday Before The Open:  CVS SO ADI ETR WB GRMN NI HFC BHC LAMR.

Earnings This Morning Of Note:

Beat Estimates: CEQP +0.42, ENBL +0.11, CTB +0.09, SPN +0.08, WMT +0.08, USAC +0.06, MDT +0.05, AAP +0.04, GDI +0.04, JELD +0.03, LDOS +0.03, SLCA +0.03, SITE +0.02, HIMX +0.02.

Flat:  WBT, HEP, ALLE 

Missed Estimates:  WLK (0.73), FDP (0.55), SAGE (0.46), ONCE (0.37), RIG (0.10), WLKP (0.09), CLR (0.06), NEO (0.04), NHI (0.04), DOOR (0.03), NBL (0.02), SCI (0.02), SQNS (0.02), TSEM (0.01), TTS (0.01), HLX (0.01)

Rags & Mags:

Top Story: Trade Talks resume with China in Washington D.C.

5 Things You Need To Know To Start Your Day (Bloomberg) –  China trade talks continue,  Wall challenges, Brexit deadline, markets quiet and economic data due out.

Senator Bernie Sanders (D -VT) declares for President this morning. (Bloomberg)

Walmart (WMT) puts up best holiday season in years as earnings are strong. (Bloomberg)

California and 15 states sue over Wall and National Emergency. (CNBC)

Southwest (LUV) under investigation for airplane weights and balance calculations. (USA Today)

Data Points:

Yesterday saw 2254 stocks rise and 607 fall on the NYSE. NASDAQ saw 2236 rise and 851 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 5, 10 and 20 day moving averages. 

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. 

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.

Helpful Hints: Interested in how we track intraday trading? The Erlanger Valuelines are available on Bloomberg if you are a Bloomberg user. Simply type in APPS (GO) and then find Erlanger Research on the APP Store to sign up. Trials are free, take a spin if this is of interest.

Trading:

The week ended on a strong note.

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: 

February NAHB Housing Market Index is due out at 10:00 a.m. EST and is expected to rise to 59 from 58.

Politico:

China Mid Level Trade Talks continue in Washington D.C. this week.

Federal Reserve Cleveland President Loretta Mester speaks at 8:50 a.m. EST.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call:  JEC (investor day), ALLK (investor day),

Sellside Conferences: 

Industry Conferences:Consumer Analysts Group of New York Conference, National Association of Home Builders Show.

M&A News & Rumors:

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

Pre-Market Movers:

Winners:  NTES +5%, HYGS +5%, TSEM +4%, AUY +4%, SBGL +4%, BLDP +4%, 

Losers: WIN -56%, SFUN -13%, WTW -7%, GOGL -4%, FEYE -4%, 

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.