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Morning Note

News

Morning Note

"Morning Note – 3/18/19"

posted by CAPIS on 03/18/2019 at 7:23 am

by CAPIS

03/18/2019 at 7:23 am

In After Hours Trading

IPOs on deck This Week: Lyft and Levi Strauss will go public this week at $62 to $68 and $14 to $16. Other IPOS this week 8i Enterprises, Alight Inc, Insurance Acquisition and Up Fintech Holdings.

IPOs on deck for Today: None of note.

Secondaries on deck:   of note.

Convertible or Senior Notes on Deck:  of note.

IPO Filings Announced After The Close: None filed today to go public.

Announcements For Secondary Filings & Financings:   CDAY LLEX  common stock offering.convertible offering. issues senior notes. WHD BDGE STML files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: None of note.

Flat: None of note.

Missed: None of note.

News After The Close:

Synaptics (SYNA) sees Q3 at the lower end of its range and announces the CEO Richard Bergman is leaving immediately.

CNN reports U.S. Trade Representative Robert Lighthizer is lobbying for U.S. trade deal with Mexico and Canada.

Dividend Increases: XAN

Stock Repurchase: PEGA TRMK

Hourly Action This Past Week:

What a difference hourly action has seen since Friday, March 8th 1:00 onward. Last week was a nice recovery but we note by the end of the week the later hours could not hold the gains.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 have been climbing since 10 p.m. EDT. We are near the highs for the morning.

U.S. futures: S&P +1, Dow Jones -67, NDX +4 and Russell 2000 +0.10 with fair values LOWER ADDING TO GAINS. Asia higher  and Europe mixed, click through for details by country.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is flat vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 122.94 from 122.70  with yields lower since Friday morning with the yield at 2.596% from 2.63%. Prices as of 8:15 a.m. EST.

Top Sectors Friday: All lead by Conglomerates, Technology, Consumer Goods and Healthcare.

Weakest Sectors Friday: None of note.

One Month Winners: Technology, Utilities, Conglomerates and Services.

Three Month Winners: Industrials, Technology, Services, Conglomerates and Financials.

Six Month Winners: Utilities,Conglomerates and Technology.

Twelve Month Winners: Utilities, Conglomerates, Healthcare and Services.

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

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

Today After The Close: TLRY HQY SYNH TACO ARA EVC AMRS.

Tuesday Before The Open: HDS DSW MK BITA DLTH.

Earnings This Morning Of Note:

Beat Estimates: LL +0.01, QD +0.06

Flat:

Missed Estimates: OSTK -0.61.

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Top Story: Lyft to raise $2 billion in IPO this week. (CNBC)

Five Things You Need To Know To Start Your Day. (Bloomberg)

France does not want EU to rush into a trade deal with the U.S. (FT)

Feds are looking into Boeing (BA) and the approval of the 737 Air Max 8. (WSJ)

OPEC cancels April meeting and maintain output levels. (Reuters)

Data Points:

We are changing the comments on the various moving averages to a table.

Yesterday saw 1698 stocks rise and 1166 fall on the NYSE. NASDAQ saw 1855  rise and 1224 fall.

The QPI10 Day Moving Average of Breadth (10DMA) is in cash for now. For a move to cash from buy, the 10DMA needed to have two days in row below -200 which happened on the close of March 8th.

Courtesy of Quantitative Partners, Inc.

YTD 84% of stocks are higher and 16% are lower. Updated 3/8/19 close with next update on 3/15/19 close.

Courtesy of Phil Erlanger Research, Inc.

Trading:

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. The change last week  is pretty impressive.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS: ERLA <GO>

Economic & Related:

March NAHB Housing Index is due out at 10:00 a.m. EDT and is expected to rise to 63 from 62.

Geopolitical:

None of note.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: CYAD (R&D day), MAR (investor day).

Sellside Conferences: Roth Capital Annual Conference.

Industry Conferences: American College of Cardiology 68th Annual Scientific Session.

M&A Activity:

Deutsche Bank (DB) and Commerzbank in merger discussions.

Fidelity National Information (FIS) to buy World Pay (WP) for $43 billion in cash and stock.

American Midstream Partners (AMID) to be bought by  ArcLight Energy Partners for $5.25 in cash.

Upgrades & Downgrades:

Pre-Market Movers:

Winners: TENX +17%, PLUG +7%, SM +5%, EW +5%. 

Losers: SYNA -18%, HUN -5%, BA -3%. 

About the Author

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