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

Morning Note


Morning Note

"Morning Note -4/12/19"

posted by CAPIS on 04/12/2019 at 7:33 am


04/12/2019 at 7:33 am

Corporate Actions

IPOs on deck for This Week: 4 IPOs for this week- B. Riley Principled Merger Unit, Jumia Technologies, Pagerduty and Tufin Software.

IPOs on deck for Today: Jumia Technologies (JMIA) 

Secondaries on deck:  PHAS XFOR on deck.

Notes Priced:  None of note.

IPO Filings Announced After The Close: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Flat: KSHB

Stock Repurchase: EBSB

Dividend Increases: TGE AM

News After The Close:

Alaska Air (ALK) reported March traffic up +0.5% on +1.3% increase in capacity.

J.Crew which is private looks to take Madewell unit public through an IPO.

Uber filed its S-1 yesterday.

Ross Stores (ROST) COO Michael O’Sullivan resigns to go elsewhere.

Allegheny Technology (ATI) guides lower sighting lower China demand.

Verso (VRS) President Christopher DiSantis resigns effective immediately.

CalAmp (CAMP) wins reversal in Federal Circuit Court against Omega Patents.

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 were up slightly until 4:00 a.m. EDT and have popped on a variety of news.

U.S. futures: S&P +17, Dow Jones +213, NDX +38.50 and Russell 2000 +10.60 with fair values  HIGHER CUTTING INTO GAINS SLIGHTLY. Asia mixed 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 higher vs. Yen. US 10 year Treasury price $123.33 from $123.77 with yields lower since Thursday morning with the yield at 2.549% from 2.477%. Prices as of 8:15 a.m. EDT.

Top Sectors Thursday: Industrials, Utilities and Conglomerates.

Weakest Sectors Thursday: Healthcare, Materials and Consumer Goods.

One Month Winners: Consumer Goods, Services, Materials, Technology and Conglomerates.

Three Month Winners:  Technology, Consumer Goods, Industrials and Services.

Six Month Winners: Utilities, Conglomerates, Technology and Services.

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

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

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

Today After The Close: None of note.

Monday Before The Open: C GS MTB APHA WAFD.

Earnings This Morning Of Note 

Beat: INFY +0.41 JPM +0.30 PNC +.01 WFC +0.10 FRC +0.04

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

Top Story:Chinese Exports came in better than expected +14.2% but imports fell -7.6%. (CNBC)

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

Chevron (CVX) buys Anadarko Petroleum (APC) for $65 a share. (Bloomberg)

European Union (EU) will support trade talks being reopened with the U.S. (FT)

Google (GOOGL) sued for abuse of search power. (WSJ)

Data Points

We are changing the comments on the various moving averages to a table. The Russell’s 200 day moving average is now positive. All indexes ex the Dow back below their 5 day moving averages which also dropped below its 10 day.

Yesterday saw 2130 stocks rise and 752 fall on the NYSE. NASDAQ saw 2147 rise and 946 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 4/5/19 close with next update on 4/12/19 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.

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

Economic & Related:

April University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to fall to 97.6 from 98.4.


President Trump speaks from The White House about the deployment of 5G at 2:15 p.m. EDT 

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: ALKS (webinar)

Sellside Conferences: Raymond James Annual Energy Day.

Industry Conferences: World Orphan Drug Congress USA.

M&A Activity

Chevron (CVX) to buy Anadarko Petroleum (APC) for $65 a share in cash and stock.

SolarWinds (SWI) to buy Samanage for $350 million in cash.

Unilever NV (UN) to buy Fluocaril and Parogencyl oral care brands from Proctor & Gamble (PG).

Banco Santander (SAN) proposes to buy all assets of Banco Santander Mexico (BSMX).

ConnectOne Bancorp (CNOB) to buy BoeFly, no terms.

Upgrades & Downgrades

Pre-Market Movers:

Winners: APC +30%, AXGT +5%, CGC +3%. 

Losers: XFOR -22%, AMRS -20%, PHAS -5%, ATI -4%,


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