09.23.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

Morning Note


Morning Note

"Morning Note -3/22/19"

posted by CAPIS on 03/22/2019 at 7:40 am


03/22/2019 at 7:40 am

IPOs on deck This Week: Levi Strauss went public this week and Lyft is up next week. Other IPOS scheduled for this week 8i Enterprises, Alight Inc, Insurance Acquisition and failed to get out of the gate this week.

IPOs on deck for Today: None of note

Secondaries on deck:  HRZN of note.

Convertible or Senior Notes on Deck: CHGG of note.

IPO Filings Announced After The Close: Turning Point Therapeutics filed today to go public.

Announcements For Secondary Filings & Financings:  HRZN common stock offering.  PKI LPIfiles mixed shelf offering. 

Courtesy of IPO Financial

Earnings After The Close:

Beat: CTAS +0.13, NKE +.03

Flat: ZUO

Missed: CAL (0.07), SCHL (0.05)

Mixed Guidance: CTAS SCHL ZUO

News After The Close:

The Navy awards General Dynamics (GD) a contract worth $470 million.

Assets at LPL Financial (LPLA) rose 2.2% in February to $676 billion from January.

C.H. Robinson (CHRW) CFO Andrew Clarke to depart on March 31st.

The EU leaders gave U.K. only two week extension not three months.

Arch Capital (ACGL) announces that John Pasquesi will succeed Constantine Iordanou.

e.l.f. Beauty (ELF) names Mandy Fields CFO as of April 22nd.

Gamestop (GME) names George Sherman as CEO as of April 15th.

PulteGroup (PHM) names John Chadwick to COO as of April 1st.

Dividend Increases:  PLCE

Stock Repurchase: BHB

Hourly Action This Past Week:

Late day weakness continues.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 rose until 9 p.m. EDT and since then have been falling.

U.S. futures: S&P -17, Dow Jones -175.00, NDX -39 and Russell 2000 -12.40 with fair values LOWER LESSENING  THE PAIN. Asia mixed and Europe lower, click through for details by country.

Gold and silver higher with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price $123.70 from $123.52 with yields lower since Thursday morning with the yield at 2.492% from 2.517%. Prices as of 8:15 a.m. EST.

Top Sectors Thursday: All lead by Consumer Goods, Technology, Services and Industrials.

Weakest Sectors Thursday:  None.

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

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

Six Month Winners: Utilities,Conglomerates and Technology.

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

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

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

Today After The Close: None of note.

Monday Before The Open: CMCM WGO YRD.

Earnings This Morning Of Note:

Beat Estimates: HIBB +0.18, TIF +0.07

Missed Estimates: JKS (0.08)

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

Top Story: Weak European PMIs hitting markets this morning. (CNBC)

Five Things You Need To Know To Start Your Day. (Bloomberg) Markets mixed. Earnings and economic data.

President Trump interviewed on Fox Business News this morning. (Fox Business News)

Trump Administration downplaying trade deal with China. (Bloomberg)

EU to move Brexit to May 22nd IF the U.K. agrees by April 12th. (NYT)

FTC to look at data collection by FANG stocks. (Bloomberg)

Data Points:

We are changing the comments on the various moving averages to a table. The Russell 2000 moved back above its 5, 10  and 20 day moving average and the Dow moved above its 5 and 20 day moving averages.

Yesterday saw 2078 stocks rise and 798 fall on the NYSE. NASDAQ saw 1902  rise and 1175 fall.

The QPI10 Day Moving Average of Breadth (10DMA) is back to invested on the open from cash this morning. 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. We are back to a buy with Thursday’s action as our 10 day moving average is above +200 for a second day.

Courtesy of Quantitative Partners, Inc.

YTD 83% of stocks are higher and 17% are lower. Updated 3/15/19 close with next update on 3/22/19 close.

Courtesy of Phil Erlanger Research, Inc.


The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. Yesterday all indexes above resistance.

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:

February Existing Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 5.10 from 4.94 million


President Trump heads to Palm Beach for the weekend.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: TRCH (update call on Orogranda Basin Project), WLTW (analyst day), FLWS (investor day), 

Sellside Conferences: None of note.

Industry Conferences: Semicon China 2019.

M&A Activity:

Varex Imagaing (VREX) to acquire 90% of Direct Conversion AB.

Spark Networks (LOV) to buy Zoosk for $225 million.

Upgrades & Downgrades:

Pre-Market Movers:

Winners: HIBB +11%, DNR +6%.

Losers: CNAT -51%, ZUO -12%, CAL -7%, GG -7%, NKE -4%,

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