09.30.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

Morning Note


Morning Note

"Morning Note -3/26/19"

posted by CAPIS on 03/26/2019 at 7:23 am


03/26/2019 at 7:23 am

Corporate Actions

IPOs on deck for This Week: The largest IPO in recent memory is due to be priced this week, Lyft. Other IPOs for this week include 8i Enterprises and Precision Biosciences.

IPOs on deck for Today: None of note

Secondaries on deck:  ZOM of note.

Convertible or Senior Notes on Deck:  None of note.

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

Announcements For Secondary Filings & Financings:  MYOK KNDI ZOM common stock offering.   MDWD RTN files mixed shelf offering.  IQ file convertible offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: RHT +0.15.

News After The Close:

AMC reports Stubs over 19 million households.

Beacon Roof (BECN) lowers guidance in Q2 due to weather.

Intel (INTC) Board of Directors extends Andy Bryant’s term as Chairman an additional year.

U.K. Lawmakers take control of Brexit trumping Prime Minister May.

Navy awards $446 million contract to Gartner (IT), Forrester (FORR) and FEDmine.

Dividend Increases: CMCO

Stock Repurchase: TWI

10K Delays: WAGE

Hourly Action This Past Week:

5 hours were positive with 2 negative. Only the S&P 500 was lower for the day.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P rose until 2:00 a.m. EDT then fell to 5:00 a.m. EDT and now are on fire.

U.S. futures: S&P +12, Dow Jones +128, NDX +28 and Russell 2000 +6 with fair values LOWER ADDING TO GAINS. Asia and Europe higher, click through for details by country.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price $124.13 from $123.94 with yields lower since Monday morning with the yield at 2.448% from 2.46. Prices as of 8:15 a.m. EST.

Top Sectors Monday: Industrials, Utilities and Services

Weakest Sectors Monday: Technology, Materials and Financials.

One Month Winners: Conglomerates, Technology, 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: OLLI KBH SCVL.

Wednesday Before The Open: PAYX LEN UNF SCWX HOME TITN OMN

Earnings This Morning Of Note:

Beat Estimates: CONN +0.20, FDS +0.08, MKC +0.08, INFO +0.03

Missed Estimates:

Still to Report: CCL, CRON, NEOG

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

Top Story: President Trump wants to strike down The Affordable Care Act (ACA) in its entirety. (CNN)

5 Things You Need To Know To Start Your Day. (Bloomberg) Parliament strike back on Brexit. ACA under fire again. Chinese President Xi in France. Risk on again. Apple (AAPL) and Qualcomm (QCOM) ITC decision.

Various House Committees want the Mueller Report in its entirety by April 2nd. (NBC)

Cease fire between Israel and Hamas. (NY Times)

Apple (AAPL) Media was about nothing. (CNBC)

U.S. tariffs costing U.S. consumer $1.4 billion a month. (CNBC)

Airbus wins order for 300 planes to China on Xi visit. (CNBC)

Data Points:

We are changing the comments on the various moving averages to a table.  The S&P 500 is now above its 20 day moving average.

Yesterday saw 1465 stocks rise and 1399 fall on the NYSE. NASDAQ saw 1604 rise and 1457 fall.

The QPI10 Day Moving Average of Breadth (10DMA) is invested on the open from cash Friday morning. For a move to cash from buy, the 10DMA needed to have two days in row above +200. We are back to a buy with Thursday’s closing action as our 10 day moving average was above +200 for a second day.

Courtesy of Quantitative Partners, Inc.

YTD 77% (-6% week over week) of stocks are higher and 23% are lower. Updated 3/22/19 close with next update on 3/29/19 close.

Courtesy of Phil Erlanger Research, Inc.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Yesterday all indexes closed below pivot to support.

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 CS:ERLA <GO>

Economic & Related:

February Housing Starts are due out at 8:30 a.m. EDT and due to fall to 1,210,00 from 1,230,000.

March Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 132 from 131.40.

Global Energy Demand rose 2.3% reports IEA making it biggest increase in a decade. (IEA Release)

The latest short interest data from the NYSE and NASDAQ is due out after the close and reflects data through settlement date of March 15th.


President Trump meets with Republican Senators on the hill at 1:00 p.m. EDT for a policy lunch. Later in the day members of Congress meet at the White House at 3:15 p.m. EDT on trade.

Federal Reserve Philadelphia President Harker speaks,

President XI continues his tour of Europe.

Senate to hold hearing on housing reform at 10:00 a.m. EDT.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: ALDX (c call 8:00 a.m. EDT on Phase III ALLEVIATE Trial). ADBE (financial analyst Q&A). PALDF (investor day). SLF (investor day). AUTL (r&d day).

Sellside Conferences:  Credit Suisse Asian Conference. Morgan Stanley Hong Kong Conference. Gabelli & Co. Waste Services Conference.

Industry Conferences: 14th International Conference on Alzheimer’s and Parkinson’s.

 M&A Activity:

Uber buys Careem for $3.1 billion and expects to close in Q1 2020. Largest tech deal ever in the Middle East.

Upgrades & Downgrades:

Morning Recos:


After Hours Recos: BBT to buy at Deutsche Bank. AAPL target raised to $201 at Piper Jaffray.

Pre-Market Movers:

Winners: INIO +5%.

Losers: CPRX -8%.


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