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

Morning Note


Morning Note

"CAPIS Morning Note – 5/24/19 U.K. Prime Minister May Resigns"

posted by CAPIS on 05/24/2019 at 7:21 am


05/24/2019 at 7:21 am

Corporate Actions

IPOs on deck for This Week: Next week we head into summer trading for IPOs.

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

Secondaries on deck: IMRN of note.

Notes Priced: None of note.

Other Filings of Note: MFIN RTN RNR files mixed shelf offering. files common stock offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  DECK +0.79, CVCO +0.64, VSAT +0.26, INTU +0.16, SPLK +0.16, DXC +0.10, HPE +0.06, HPQ +0.02, ROST +0.01 of note.

Flat: None of note.

Missed:  LGF.A (0.11), ADSK (0.02) of note.

Still To Report: of note.

News After The Close:

Freeport McMoran (FCX) to sell part of cobalt business for $150 million.

Dow DuPont (DWDP) to do a 1:3 stock split once separation from ag business.

Blackston (BX) and Brookfield (BAM) along with several Private Equity firms are looking to buy Genesse & Wyoming (GWR).

Boeing (BA) pops on story that 737 Max could be flying by late June. (Reuters)

Raytheon (RTN) wins $360 million Air Force contract.

Stock Repurchase: ROLL

Dividend Increase: EQH MOS EXR

Hourly Action This  Week:

This week now sees 4 hours  that are positive and 3 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 +15.75, Dow Jones +139 NDX +31.50 and Russell 2000 +8.90 with fair values HIGHER CUTTING INTO GAINS. Asia mixed  and Europe higher, click through for details by country.

Gold and silver higher with 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 $124.89 from $124.70 with yields lower since Thursday morning with the yield at  2.359%. Prices as of 8:25 a.m. EDT.

Top Sectors Thursday: Utilities.

Weakest Sectors Thursday: Materials,Conglomerates, Industrials and Technology.

One Month Winners: Healthcare and Utilities.

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

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

Twelve Month Winners: Utilities, Healthcare and Services.

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)

Today After The Close: None of note.

Tuesday Before The Open: BNS BAH PLAN MOMO NIO AMWD of note.

Earnings This Morning Of Note 

Beat: HIBB +0.30, FHL +0.18 of note.

Flat:  None of note.

Missed: FL (0.07), BKE (0.04) of note.

Still To Report:  of note.

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

Top Story: U.K. Prime Minister Theresa May is out as of June 7th after resigning this morning. (CNN)

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

President Trump heads to Japan and then Ireland.

President Trump orders intelligence agencies to work with Attorney General Barr on Russia surveillance issues. (CNN)

President Trump to sign Executive Order on health care disclosures. (WSJ)

China denies that Huawei has links to the Chinese government. (Reuters)

Boeing (BA) 737 Max may take a long time to get back in services. (NYT)

House passes bill related to Retirement changes. 

Data Points

Several indexes broke their 10 day moving average.

Yesterday saw the adline/decline line have it third lowest day of the year.

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:

April Durable Orders are due out at 8:30 a.m. EDT and expected to improve to -2.0% from 2.6%.

The latest short interest data from the NYSE and NASDAQ are due out after the close with data through settlement data of May 15th.


President Trump heads to Japan for a series of meetings over Memorial Day weekend.

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call:  

Sellside Conferences:  Deutsche Bank dbaccess Annual Asia Conference.

Industry Conferences: ALS Limited 2019. Immuno Oncology World Congress.

M&A Activity

Global Payments (GPN) has held talks on buying Total Systems (TSS). (Bloomberg)

Upgrades & Downgrades

Early Morning Gap Up/Down:

Gap Higher: WKHS +15%, VSAT +10%, DECK +6%, NVCR +5%, HIBB +5%, DXC +5%,

Gap Lower: FL -11%, ADSK -7%, DVAX -5%

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