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

Morning Note


Morning Note

"Morning Note – 4/23/19"

posted by CAPIS on 04/23/2019 at 7:42 am


04/23/2019 at 7:42 am

Interesting Fact Of the Day: Social Security will be tapped out by 2035 unless changes made. (CNN)

Corporate Actions

IPOs on deck for This Week: None of note.

IPOs on deck for Today: None of note.

Secondaries on deck: None of note.

Notes Priced: None of note.

IPO Filings Announced After The Close:

Other Filings of Note.  GRTS files a secondary offering. GES files convertible senior notes. G files mixed shelf offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  WHR +0.26, CE +0.23, RRC +0.11, HSTM +0.08, WAL +0.07, ACC +0.06, CDNS +0.05, BRO +0.05, NBTB +0.03, CMRE +0.03, MINI +0.03, EGP +0.02, ELS +0.02.

Flat: None.

Missed: RMBS (0.47), BEDU (0.06), SFNC (0.01), ZION (0.01), HLX (0.01).

Still To Report: ALSN, IBTX.

Dividend Increases: WBS

Dividend Decreases: GES

News After The Close:

Lots of action at Guess? (GES) which reaffirms Q1 guidance but lowers dividend and raised capital through a convertible.

Genuine Parts (GPC) Names CEO Paul Donahue as Chairman of the Board as well.

Victory Capital (VCTR) terminates deal to buy Harvest Volatility Management.

Steris (STE) wins $390 million Defense Logistics Agency contract with completion by 2020.

Lockheed  Martin (LMT) wins $360 million Army contract.

CEO Kevin Crutchfield the CEO of Contura Energy (CTRA) resigns.

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 moved lower until 7:00 a.m. EDT but have been moving up since.

U.S. futures: S&P +3.75, Dow Jones +68, NDX +10.25 and Russell 2000 +1.80 with fair values LOWER ADDING TO GAINS. Asia and Europe mixed, click through for details by country.

Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price $122.92 from $123.05 from  with yields higher since Monday morning with the yield at 2.589% from 2.569%. Prices as of 8:20 a.m. EDT.

Top Sectors Monday: Materials and Technology.

Weakest Sectors Monday: Financials, Industrials 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)



Earnings This Morning Of Note 

Beat:  LMT +1.65, ARCH +1.36, HAS +0.32, ABG +0.27, TWTR +0.22, ALSN +0.20, UTX +0.19, AXE +0.16, NEE +0.16, PHM +0.12, HOG +0.11, CIT +0.11, SNV +0.07, TECK +0.06, FITB +0.04, VZ +0.04, NUE +0.04, JBLU +0.04, CNC +0.04, STT +0.03, GPK +0.03, MTG +0.03, PG +0.02, DGX +0.02, NTRS +0.02, FNB +0.02, KO +0.02, TRU +0.01, ATI +0.01

Flat: PPBI, WSO.

Missed: MLI (0.29), BANC (0.20), ASTE (0.19), PII (0.13), WAT (0.13), SHW (0.06), FBC (0.02), ABCB (0.02), IRDM (0.02), FCF (0.01), EDU (0.01).

Still To Report: FELE, UMBF

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

Top Story: Will the U.S. squeeze Iran as sanctions end? (Bloomberg)

Sri Lanka Defense Minister notes bombing was revenge for the mosque killings in New Zealand. (CNN)

House Speaker Nancy Pelosi asks for impeachment to be taken off the table. (CNN)

Consumer Reports is critical of Tesla (TSLA) comments about self driving cars. (Consumer Reports)

President Trump says U.S. will reciprocate on Harley Davidson (HOG) EU tariffs. (Twitter)

Data Points

We are changing the comments on the various moving averages to a table. The S&P 500 moved above its 5 day moving average.

Yesterday saw 1165 stocks rise and 1721 fall on the NYSE. NASDAQ saw 1323 rise and 1768 fall.

Only three down days for the month with six days to go in April and last losing streak of more than three days ended back on March 8th. (Twitter: Bullet86)

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 78% (-2% week over week) of stocks are higher and 22% are lower. Updated 4/12/19 close with next update on 4/19/19 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:

March New Home Sales are due out at 10:00 a.m. EDT and expected to fall to 646,000 from 667,000.

$40 billion 2 Year Auction at 1:30 p.m. EDT.

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


President Trump has a quiet day with nothing of note.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call:  None of note.

Sellside Conferences: None of note.

Industry Conferences: New York International Auto Show. World Oilman’s Mineral & Royalty Conference 2019. Bridge & Tunnel Inspectors Annual Conference.

M&A Activity

Upgrades & Downgrades

Pre-Market Movers:

Winners: CMRE +12%, WHR +8%, CDNS +7%, CNC +6%, HSTM +6%, BEDU +5%, BRO +5%, 

Losers: EMES -65%, GRTS -8%, RMBS -4%,

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