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

Morning Note


Morning Note

"Morning Note -4/2/19"

posted by CAPIS on 04/02/2019 at 7:26 am


04/02/2019 at 7:26 am

Corporate Actions

IPOs on deck for This Week: 5 IPOs for this week

IPOs on deck for Today: Powerbridge Technologies (PBTS) of note. Was originally due to be priced last week.

Secondaries on deck:  STAG GLOG of note.

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

Announcements For Secondary Filings & Financings:   STAG EVOP TCDA OCUL PANW SMHI ZEAL common stock offering. DTE FIXX IPG BTAI files mixed shelf offering. BILI files convertibles offering. PBA files for medium term notes.

Courtesy of IPO Financial

Earnings After The Close

Beat: None of note.

News After The Close

FAA to receive Boeing’s (BA) final package of software enhancements for FAA approval. They are not going to rush moving forward on getting the 737 Max 8 back in production.

North American Construction Group (NOA) announce oil sands contract with backlog of $400 million.

C.H. Robinson (CHRW) names Scott Hagen as Interim CFO immediately. Last week we reported on departure of previous CFO.

CMS finalizes Medicare Advantage and Part D payment and policy updates to increase competition so quality rises and costs continue to fall.

A top ratings agency takes Wells Fargo (WFC) to Negative from Stable.

Lockheed Martin (LMT) unit awarded $2.46 billion Missile Defense Agency contract.

Boeing (BA) wins a $250 million Air Force contract.

FB Financials (FBK) exits wholesale mortgage origination operations.

Dividend Increases:  OZK ALLY

Stock Repurchase: KFRC

10K Delays: YGYI EIDX

Hourly Action This Past Week:

The only negative period yesterday was 9:30 to 10:00 a.m. EDT.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P rose until 8 p.m. EDT then fell until 4:00 a.m. EDT and have been rising since to +3.

U.S. futures: S&P +3, Dow Jones +6, NDX +12 and Russell 2000 +1.70 with fair values MIXED. 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 higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price $123.77 from $123.98 with yields lower since Monday morning with the yield at 2.471% from 2.44% . Prices as of 8:05 a.m. EDT.

Top Sectors Monday: Industrials, Materials, Financials and Technology.

Weakest Sectors Monday: Utilities.

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

Three Month Winners:  Conglomerates, Technology, Industrials 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: PLAY GME.

Wednesday Before The Open: STZ RPM ISCA SMPL SCHN.

Earnings This Morning Of Note

Beat Estimates: None of note

Missed Estimates: WBA (0.08), ANGO (0.03)

Still to Report: LW.

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

Top Story: U.K. Parliament rejected alternative Brexit plans. (Bloomberg)

5 Things You Need To Know To Start Your Day. (Bloomberg) Brexit deja vous. Oil continues its run. Bitcoin is back. Markets quiet. Light on economic data.

Bitcoin moves back above $5,000 in a sudden surge. biggest move since 2017. (Bloomberg)

President Trump reverses on replacing Obamacare, says can wait until after the election. (Bloomberg)

E.U.  and U.S. trade talks face delay, negative for the Trump Administration. (Bloomberg)

Whole Foods (AMZN) to slash prices on hundreds of items starting on Wednesday. (CNBC)

Why Lyft (LYFT) struggled on its second day of trading. (CNBC)

Apple (AAPL) to introduce three new organic light emitting diode iPhones next year. (Digitimes)

Blackrock (BLK) undergoes its biggest change in years. (WSJ)

Data Points

We are changing the comments on the various moving averages to a table. The only negative moving average now is the Russell’s 200 day moving average.

Yesterday saw 2245 stocks rise and 695 fall on the NYSE. NASDAQ saw 2092 rise and 997 fall.

The QPI10 Day Moving Average of Breadth (10DMA) is invested on the open from cash Friday morning 3/22. For a move to cash from buy, the 10DMA needed to have two days in row above +200. We remain with a buy as our 10 day moving average remains above -200.

Courtesy of Quantitative Partners, Inc.

YTD 80% (+3% week over week) of stocks are higher and 20% are lower. Updated 3/29/19 close with next update on 4/5/19 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. Monday saw all indexes close 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 CS:ERLA <GO>

Economic & Related:

Today is a light day for economic data.

February Durable Orders are due out at 8:30 a.m. EDT and due to fall to -0.9% from 0.4%.

Weekly API Petroleum Institute Data is due at 4:30 p.m. EDT.


President Trump meets with the Secretary General of NATO today.

Conferences & Analyst Meetings

Analyst Meetings/Notable Conference Call: JNCE (investor and analyst event at AACR). INTC ( Datacentric Innovation Day). HLNE (investor conference).  MUX (business update). March Auto Sales (F GM HMC TM)

Sellside Conferences: Mizuho Annual Energy Summit. Bank of America Utility and Electricity Conference. Jefferies Healthcare REIT Conference. Cowen & Co Annual Future of Consumer Conference.

Industry Conferences: Microcap Spring Investor Summit 2019. American Association for Cancer Research Annual Meeting. Wine & Spirits Wholesalers of America Convention.

 M&A Activity

UGI to buy AmeriGas Partners (APU) for $35.33 in cash and stock.

Lincoln Electric (LECO) buys Baker Industries, no terms.

White Mountain NSM Insurance Group (WTM) acquires Embrace Pet Insurance, no terms.

Carlisle (CSL) to buy MicroConnex no terms disclosed.

Lear (LEA) to buy Xevo for $320 million.

MIddleby (MIDD) buy Powerhouse Dynamics, no terms disclosed.

Rapid7 (RPD) buys NetFort, no terms.

Upgrades & Downgrades

Pre-Market Movers:

Winners: AVEO +13%, OSTK +9%, XNET +6%, 

Losers: APYX -38%, SGMO -6%, WBA -6%, EVOP -5%, TCDA -4%, 


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