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

Morning Note


Morning Note

"Morning Note -5/22/19"

posted by CAPIS on 05/22/2019 at 7:33 am


05/22/2019 at 7:33 am

Corporate Actions

IPOs on deck for This Week: A busy week with 5 IPOs this week.  No hot deal of the week.

IPOs on deck for Today:Proficient Acquisition Unit (PAACU)of note.

Secondaries on deck: CVNA INSM LOVE NEO  of note.

Notes Priced: None of note.

Other Filings of Note:files mixed shelf offering.files senior notes. ONCS EKSO LIQT CDAY G files common stock offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat:TOL +0.12, SKY +0.06, URBN +0.06, OOMA+0.01of note.

Flat: None of note.

Missed: JWN (0.20), PSTG (0.03) of note.

Still To Report: None of note.

News After The Close:

Tocagen (TOCA) sees TOCA 5 Phase 3 clinical trial receive continuation without modification. Stock lower after hours.

PVH Inc (PVH) extends Manny Chirico contract for the next five years.

Urban Outfitters (URBN) announces subscription rental services for women’s apparel.

Stock Repurchase: AYR

Dividend Increase: RCKY PRSP

Hourly Action This  Week:

This week now sees 5 hours  that are positive and 2 that are negative. 3:00-4:00 was higher again!

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500

U.S. futures: S&P -4, Dow Jones -22 NDX -22 and Russell 2000 -0.90 with fair values LOWER EX RUSSELL 2000 HELPING LOSSES.Asia  and Europe mixed, click through for details by country.

Gold and silver flat with copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price $124.20 from $124.11  with yields higher since Tuesday morning with the yield at 2.423% from 2.432%. Prices as of 8:25 a.m. EDT.

Top Sectors Tuesday: All higher led by Industrials, Technology and Materials.

Weakest Sectors Tuesday: None lower.

One Month Winners: Conglomerates and Utilities.

Three Month Winners:  Conglomerates, Services, Technology, Consumer Goods and Utilities.

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

Twelve Month Winners: Utilities, Services, Healthcare and Conglomerates

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

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


Thursday Before The Open: MDT RY TD HRL BBY TTC WB SDRL BJ SNA ROLL BRC TK CTRN of note.

Earnings This Morning Of Note 

Beat:  KLXE +0.10, TGT +0.10, AAP +0.09, PLAB +0.06, ADI +0.05, VFC +0.01 of note.

Flat:  None of note.

Missed: LOW (0.11), CM (0.01) of note.

Still To Report: CSWI of note.

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

Top Story: Chinese Ambassador to the U.S. says that China ready to resume trade discussions. (Reuters)

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

U.S. and China tensions rise as U.S. considers banning 5 surveillance companies from U.S. technology. (Bloomberg)

Qualcomm (QCOM) sees U.S. Federal Judge rule against the company on anti-trust issues. (CNBC)

Another analyst lowers target on Tesla (TSLA) with $36 price target. (CNBC)

Data Points

Several indexes several key  moving averages improved.

Yesterday was a strong day.

The QPI10 Day Moving Average of Breadth (10DMA) is no longer  invested  and moved to cash on May 8th close. For a move to cash from buy, the 10DMA needed to have two days in row below -200. For now, the best offense is a good defense.

Courtesy of Quantitative Partners, Inc.

YTD 76% (-3% week over week) of stocks are higher and 24% are lower. Updated 5/10/19 close with next update on 5/17/19 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.

All indexes struggled yesterday.

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:

API Petroleum Institute Weekly Data was out at 4:30 p.m. EDT ad Crude Oil saw a build of +2.40 million barrels and Gasoline built 0.35 million barrels.

MBA Mortgage Applications rose 2.4% week over week. Refinancings up 8%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.


Treasury Secretary Steven Mnuchin will testify on the budget at 8:30 a.m. EDT.

Federal Reserve Atlanta President Bostic speaks at 10:10 a.m. EDT.

Federal Reserve Open Market Committee (FOMC) minutes from the April meeting are due out at 2:00 p.m. EDT.

President Trump has a meeting with Democrats at 11:15 a.m. EDT on infrastructure and then tonight holds a fund raiser in Washington D.C.

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call: ZEN ANH LPLA TMO AMAG BTAI  (investor day)

Sellside Conferences: UBS Global Healthcare Conference. Credit Suisse Mortgage REIT Conference. Suntrust Robinson Humphrey Financial Services Conference. Needham Emerging Technology Conference. Wolfe Research Annual Transportation Conference. RBC Global Healthcare Conference. Berebberg Conference USA Conference. Suntrust Robinson Humphrey Internet & Digital Media Conference. B. Riley Annual Institutional Investor Conference. Wells Fargo Financial Services Forum.

Industry Conferences:American Thoracic Society International Conference runs through May 22.

M&A Activity

Upgrades & Downgrades

Early Morning Gap Up/Down:

Gap Higher: SE +22%, TGT +9%.

Gap Lower: TOCA -32%, EKSO -29%, ONCS -29%, PSTG -20%, SSL -14%, LIQT -12%, JWN -11%, LOW -10%, URBN -9%.

About the Author

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