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

Morning Note


Morning Note

"CAPIS Morning Note – 6/24/19 Merger Monday (See M&A Section)"

posted by CAPIS on 06/24/2019 at 7:51 am


06/24/2019 at 7:51 am

Corporate Actions

IPOs on deck for This Week:  Another busy one for IPOs with 9 on deck.

IPOs on deck for Today:  None of note.

Secondaries on deck for Today:   None of note.   

Notes Priced:  MIK.

Common Stock filings: SCOR VICI.

Mixed Shelf Offerings filed: 

Convertible Offerings filed: 

Senior Notes Files:

Courtesy of IPO Financial

Earnings After The Close:

Beat: None of note.

Flat: None of note.

Missed: None of note.

News After The Close:

Keurig Dr. Pepper (KDP) withdraws Penafiel mineral spring water that does not meet FDA standard.

Federal Reserve notes that DFAST result confirm U.S. bank strength and strong capital levels.

Stock Repurchase:  

Dividend Increase:

What’s Happening This Morning: 

U.S. futures: S&P +6.50, Dow Jones +54, NDX +22.50  and Russell 2000 +4.80 with fair values HIGHER HURTING THE OPEN. Asia  and Europe mixed click through for details by country.

Gold and silver higher with copper lower. WTI Crude Oil higher  and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price $127.75 from $127.81 with yields lower since Friday morning with the yield at 2.03% from 2.026%. Prices as of 8:25 a.m. EDT.

Top Sectors Friday:  Healthcare, Utilities and Materials.

Weakest Sectors Friday:  Conglomerates, Industrials and Financials lower.

One Month Winners: Healthcare, Industrials and Utilities.

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

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

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

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

Hourly Action This  Week:

Mixed action so far this week with 4 hours higher and 3 lower.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: None of note.

Tuesday Before The Open: LEN FDS BNED of note.

Earnings This Morning Of Note 

Beat: None of note.

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:  New sanctions may be coming on Iran. (Bloomberg)

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

Behind the scenes U.S. and China working on G-20 meeting and moving ahead on tariffs. (Bloomberg)

Turkey wants changes, elections confirm that this weekend. (CNBC)

Tons of deals see M&A below.

Data Points

All indexes continue to be above all moving averages.

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.

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:

None of note.


President Trump signs an Executive Order to Improve Price and Quality Transparency in Healthcare. 

Conferences & Analyst Meetings:  None of note.

Analyst Meetings/Notable Conference Call:  CUB  (investor or analyst day)  

Sellside Conferences:  None of note.

Industry Conferences:  None of note.

M&A Activity

Independent Bank Group (IBTX) sells Independent Bank trust assets to Great Western Bank, no terms.

Caesars Entertainment (CZR) to merge with Eldorado Resort (ERI) for $12,75 a cash in cash and stock.

Nanometrics (NANO) and Rudolph Technologies (RTEC) announce joint merger.

U.S. Ecology (ECOL) and NRC Group (NRCG) to merge.

Archrock (AROC) to buy assets of Elite Compression Services for $410 million.

PCM (PCMI) to be acquired by Insight Enterprises (NSIT) for $35 a share in cash.

Alliance Resources (ARLP) to buy oil and gas mineral interests from Wing Resources LLC and Wing Resources II LLC for $145 million in cash.

Del Frisco’s (DFRG) to be acquired by L Cattertonon in all cash deal vaued a $650 million.

Upgrades & Downgrades

Early Morning Gap Up/Down:

Gap Higher: PCMI +42%, AMAG +18%, CZR +14%, CATB +7%, DRD +6%, SEAS +5%.

Gap Lower: CCL -4%.

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