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07.18.2019 14 new posts under Morning Note (9), International Summary (4), Compliance Docs. (1)

Morning Note

News

Morning Note

"CAPIS Morning Note – 6/18/19 ECB Head Mario Draghi Floats Rate Cuts"

posted by CAPIS on 06/18/2019 at 7:52 am

by CAPIS

06/18/2019 at 7:52 am

Corporate Actions

IPOs on deck for This Week:  A busy week for IPOs with 8 on deck. Several may trade well above their pricing.

IPOs on deck for Today: 

Secondaries on deck for Today: RMTI.   

Notes Priced:  CBT.

Common Stock filings: RMTI CALA SRNE BHVN.

Mixed Shelf Offerings filed: BHVN RCKT.

Convertible Offerings filed: None of note.

Senior Notes Files: SIRI FUN 

Courtesy of IPO Financial

Earnings After The Close:

Beat: None of note.

Flat:  None of note.

Missed:  None of note.

News After The Close:

EQT Corp (EQT) raises Q2 guidance.

Cisco (CSCO) wins at $720 million Defense Information Systems Agency Contract.

AT&T (T) details new spectrum licenses after close of FCC Auction.

Stock Repurchase:  

Dividend Increase: CGBD ( Special Dividend)

Dividend Decrease: 

What’s Happening This Morning: 

U.S. futures: S&P +17, Dow Jones +143, NDX +80  and Russell 2000 +9.70 with fair values LOWER ADDING TO GAINS EX RUSSELL 2000 WHICH IS HIGHER. Asia land Europe higher, click through for details by country.

Gold,silver and copper higher. WTI Crude Oil higher and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price $127.75 from $127.14 with yields higher since Monday morning with the yield at 2.025% from 2.108%. Prices as of 8:25 a.m. EDT.

Top Sectors Monday:  Healthcare, Conglomerates and Technology.

Weakest Sectors Monday:  Utilities and Financials.

One Month Winners: Utilities, Healthcare and Consumer Goods.

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

Six Month Winners: Industrials, Services, Conglomerates and Techology.

Twelve Month Winners: Utilities, Healthcare and Services.

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

Hourly Action This  Week:

Last week  1 hour  positive and 6 were negative. A struggle.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  ADBE JBL LZB

Wednesday Before The Open:  WGO BKS

Earnings This Morning Of Note 

Beat: PSN +0.31 

Flat: None of note.

Missed: None of note.  

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

Top News Story Of The  Day: Facebook (FB) launches a cryptocurrency called Libra. (Marketwatch)

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

European Central Bank (ECB) Head Mario Draghi says rate cuts still a tool for easing in Europe. (CNBC)

President Trump critical of ECB move to ease. (Twitter/CNBC)

1,000 more U.S. troops head to the Middle East as tensions rise with Iran. (CNN)

Interview with Time Inc. President Trump notes he may take military action against Iran. (Time)

Saudi Arabia pushes OPEC to reduce output. (WSJ)

President Trump to hold rally in Orlando tonight to launch reelection bid. (CNN)

Boeing (BA) finally get orders at Paris Air Show. (CNBC)

General Electric (GE) have a banner Paris Air Show with new orders. (CNBC)

Bank of America Merrill Lynch latest manager survey sees most popular investment treasuries. (Bloomberg)

J.P. Morgan (JPM) working on a secret London banking project. (Tech Crunch)

Hershey Foods (HSY) CEO Michelle Buck is interviewed on CNBC. (CNBC)

Data Points

S&P 400 back below its 5 day moving average.

Bold means a change from prior day.

The advance/decline line has improved dramatically and moved to a buy last Thursday.

The QPI10 Day Moving Average of Breadth (10DMA) is no longer in cash and moves to invested this morning. For a move to cash from buy, the 10DMA needed to have two days in row above +200.

Courtesy of Quantitative Partners, Inc.

YTD  70% (+6% week over week) of stocks are higher and 30% are lower. Updated 6/7/19 close with next update on 6/14/19 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. A strong Monday.

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:

May Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,230,00 from 1,139,000.

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

Geopolitical:

President Trump travels to Orlando, Florida to announce his reelection campaign.

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call: VZ CCMP RARX (investor or analyst day)  SIGA PLT CWBR (conference call)  

Sellside Conferences:  Roth Capital Partners Annual London Conference, Jefferies Global Consumer Conference. Oppenheimer Annual Consumer Growth and E-Commerce Conference. Raymond James Life Sciences & Med Tech Conference. J.P, Morgan Energy Conference. 

Industry Conferences:  International Paris Auto Show. World Congress on Parkinson’s Disease and Related Disorders.

M&A Activity

Cognizant Tech (CTSH) to buy Zenith Technologies, no terms.

Arthur J. Gallagher (AJG) to buy P2 Group, no terms.

Upgrades & Downgrades

Early Morning Gap Up/Down:

Gap Higher: MGI +152%, PHAS +17%, BYND +11%, EIGR +10%, ARQL +8%.

Gap Lower: RMTI -27%, BHVN -25%, CALA -10%, PACB -5%.

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