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Morning Note

News

Morning Note

"Morning Note -3/19/19"

posted by CAPIS on 03/19/2019 at 7:41 am

by CAPIS

03/19/2019 at 7:41 am

In After Hours Trading

IPOs on deck This Week: Lyft andLevi Strausswill 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.

IPO News: BJ Services withdraws IPO filing.

IPOs on deck for Today: None of note.

Secondaries on deck: AGS AIZ AQB  ECPG TWO UNVR WHD WP YEXT

Convertible or Senior Notes on Deck:

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

Announcements For Secondary Filings & Financings:  LQDA TWO TORC FTDR AIZ DERM EQH YEXT WHD NOMD JWN  common stock offering. NSTG OUT SMTC FLDM files mixed shelf offering. JWN files debt offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: HQY +0.05, SYNH +0.13.

Flat:

Missed: REV (0.71), AMRS (0.32), TLRY (0.20), TACO (0.01).

Mixed Guidance: TACO HQY.

News After The Close:

Canadian National Railroad (CNI) to invest more than $245 million in Saskatchewan railroad infrastructure.

RE/MAX (RMAX) and Redfin (RDFN) announce exclusive referral relationship in the U.S. and Canada.

Williams Cos (WMB) and Canada Pension Plan form a $3.8 billion strategic joint venture in the Marcellus/Utica basins.

CNO Financial (CNO) names Paul McDonough as CFO and Rocco Tarasi as CMO as of April 1st.

WageWorks (WAGE) lower on updated guidance.

General Dynamics (GD) wins $2.04 billion Navy contract.

Dividend Increases:  CTRE

Stock Repurchase: ITRI BCOR

10K Delays: EK OXFD EMES

Index Changes: FFIN to S&P 400. FEO to S&P 600 as of Friday.

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 +10.50, Dow Jones +98, NDX +26.25 and Russell 2000 +7.20 with fair values LOWER ADDING TO GAINS.Asia nixed  and Europe higher, click through for details by country.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 122.86 from 122.94 with yields lower since Monday morning with the yield at 2.605% from 2.596%. Prices as of 8:15 a.m. EST.

Top Sectors Monday: All lead by Materials, Industrials, Financials and Services.

Weakest Sectors Monday: None of note.

One Month Winners: Technology, Utilities, Conglomerates and Consumer Goods.

Three Month Winners: Industrials, Technology, 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: FDX TME FNV SMAR SCS AIR WPRT.

Wednesday Before The Open: GIS EXR.

Earnings This Morning Of Note:

Beat Estimates: HDS +0.03, MIK +0.02.

Missed Estimates: DSW (0.02), BITA (0.01).

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

Top Story: EU to give Brexit one more chance. (Bloomberg)

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

China may exclude 737 Max 8, Boeing (BA), from a trade deal. (Bloomberg)

U.S. Regulator tells judge that Elon Musk CEO of Tesla (TSLA) never sought approval of Tweets. (CNBC)

Google (GOOGL) to announce game streaming service today. (CBS)

Deutsche Bank (DB) lent President Trump and his organization over $2 billion in loans. (NYT)

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 and continued on Monday.

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:

January Factory Orders are due out at 10:00 a.m. EDT and due to rise to 0.2 from 0.1.

Geopolitical:

The Federal Reserve Open Market Committee (FOMC) starts a two day meeting that will conclude in a rate announcement and press conference tomorrow.

President Trump spends the day with the President of Brazil .

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: NVDA (investor day), DSW (investor day), HUM (investor day), FFIV (F5 Government Symposium).

Sellside Conferences: Roth Capital Annual Conference. Oppenheimer Annual Healthcare Conference. Bank of America Merrill Lynch Global Industrials and EU Autos Conference. 

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

M&A Activity:

Roper (ROP) to buy Foundry for 410 million pounds.

Bluecora (BCOR) buys 1st Global for $180 million.

Upgrades & Downgrades:

Pre-Market Movers:

Winners: STNE +20%, SYNH +10%, FOE +7%

Losers: REV -9%, TORC -9%, WAGE -8%, YEXT -6%, TACO -6%, EMES -5%, NOMD -5%, HQY -5%

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