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Morning Note

News

Morning Note

"Morning Note -3/29/19"

posted by CAPIS on 03/29/2019 at 7:47 am

by CAPIS

03/29/2019 at 7:47 am

Today will be a shortened update due to travel. We will be back to normal on Monday.

Corporate Actions

IPOs on deck for This Week: The largest IPO in recent memory was priced last night, Lyft.

IPOs on deck for Today: Lyft (LYFT) and Powerbridge Technologies (PBTS) of note

Secondaries on deck:  BPMC CHMA LULU RBZ of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: SAIC +.30 RH +.14 PRGS +.03 OXM +.03  SGH+.02

Flat:

Missed:

What’s Happening This Morning: 

U.S. futures: S&P +11, Dow Jones +107, NDX +33 and Russell 2000 +7 with fair values LOWER ADDING TO GAINS. Asia and Europe higher, click through for details by country.

Gold, silver and copper higher. 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 $124.17 from $124.66 yesterday. Prices as of 8:45 a.m. EST.

Top Sectors Thursday: Services, Industrials, Financial and Consumer Goods.

Weakest Sectors Thursday: Utilities and Conglomerates.

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: CALM NVGS.

Earnings This Morning Of Note:

Beat Estimates: KMX +.10 BB +.05

Missed Estimates:

Data Points:

Yesterday saw 1938 stocks rise and 929 fall on the NYSE. NASDAQ saw 1982 rise and 1095 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 last 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.

Economic & Related:

February Personal Income rose at 0.2% against an estimate of 0.3%.

February New Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 618,000 from 607,000.

The University of Michigan Consumer Sentiment Survery for March (final) is due to remain at 97.8.

Geopolitical:

President Trump in Palm Beach for the weekend.

Federal Reserve Dallas President Robert Kaplan to speak at 10:30 a.m. EDT.

Federal Reserve Governor Quarles to speak at 12:05 p.m. EDT.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: AXGT (R&D Day)

Sellside Conferences:  None of note. 

Industry Conferences: American Association for Cancer Research Annual Meeting

 M&A Activity:

Pre-Market Movers:

Winners: PRGS +24% SAIC +12% BB +7% KMX +4%

About the Author

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