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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 – 6/28/19 Federal Reserve CCAR Results Out"

posted by CAPIS on 06/28/2019 at 7:18 am

by CAPIS

06/28/2019 at 7:18 am

Quick Note: Due to travel most of our tables are not updated this morning and they will be updated over the weekend. Otherwise a normal note. On a separate point watch the Financials today as there were MULTIPLE buybacks and dividend increases after the CCAR announcement by the Federal Reserve. ( see Stock Buybacks and Dividend Increases Below)

Corporate Actions

IPOs on deck for Today: The RealReal (REAL) 

Secondaries on deck for Today: HCM.

Notes Priced: 

Common Stock filings: HCM SRNE.

Mixed Shelf Offerings filed: 

Convertible Offering Files: 

Courtesy of IPO Financial

Earnings After The Close:

Beat:  PRGS +0.08, CAMP +0.03

Flat: 

Missed: NKE (0.04), SGH (0.03)

News After The Close:

Nio (NIO) recalls the ESB battery for safety concerns.

Federal Reserve releases CCAR results and all banks pass with only Credit Suisse (CS) to address “limited weakness”.

Apple (AAPL) Chief Design Officer Jony Ives to leave after 30 years.

Acadia Healthcare (ACHC) COO Ronald Fincher to leave as of July 15th.

Boeing (BA) hit with more software concerns in after hours.

Dividend Increase: JPM USB MS C PNC STT BAC BK DFS MTB NTRS

Stock Repurchase: CFG MS COF RF STT BAC BK DFS NTRS THG

What’s Happening This Morning: Going forward the futures value reflects the change with fair value. We do not the fair value direction still.

U.S. futures: S&P +7.13, Dow Jones +74, NDX +7.2  and Russell 2000 +0.95 with fair values lower.  Asia  and Europe mostly higher click through for details by country.

Gold higher, silver lower with copper lower. WTI Crude Oil higher and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price $127.52 from $127.86 with yields higher since Wednesday morning with the yield at 2.06% from 2.02%. Prices as of 6:25 a.m. EDT.

Top Sectors Thursday:  Conglomerates, FInancials, Healthcare, Services and Technology.

Weakest Sectors Thursday: Materials.

One Month Winners: Healthcare, Industrials and Materials.

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:

This week we  have seen selling in 6 hours. A pretty bad start to the week. Should improve from here. Updated through Wednesday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  None of note.

Monday Before The Open:  

Earnings This Morning Of Note 

Beat: STZ +0.15

Flat: None of note.

Missed: JKS -0.22

Missing This Morning: MPAA 

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

Top News Story:  President Trump claims he has not delayed the $300 billion of new tariffs into the meeting. (Reuters)

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

President Trump states the U.S. will make large trade deals with Japan and India. (Reuters)

Boeing (BA) could see its 737 Max grounded until late 2019. (WSJ)

Data Points

All indexes regained some ground.

Bold means a change from prior day.

The advance/decline line has improved dramatically and moved to a buy on 6/13. Updated through 6/26/19.

The QPI10 Day Moving Average of Breadth (10DMA) is no longer in cash and moved to invested on .

Courtesy of Quantitative Partners, Inc.

YTD  69% (-1% week over week) of stocks are higher and 31% are lower. Updated 6/21/19 close with next update on 6/28/19 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. Update through Wednesday close.

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 Personal Income is due out at 8:30 a.m. EDT and is expected to fall to 0.3% from 0.5%.

June Chicago PMI is due out at 9:45 a.m. EDT and came in last month at 54.2, there is no estimate.

June University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to come in at

Geopolitical:

President Trump  in Osaka, Japan for the G-20 and will meet with Chinese President Xi on Saturday.

The Democratic Party concluded two days of nightly debates with front runners Former VP Joe Biden and Senator Bernie Sanders. The media crowned Senator Kamalia Harris ( D- CA) the winner.

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call:  None of note (investor or analyst day)

Sellside Conferences:  None of note.

Industry Conferences:  Mobile World Congress Shanghai (through 6/28). 

M&A Activity

FTI Consulting (FCI) to buy Andersch AG, no terms.

Willis Lease (WLFC) Charles F. Willis proposes to acquire all shares at a premium to close on June 26th.

Early Morning Gap Up/Down:

Gap Higher: CAMP +19%, CDMO +17%, PRGS +17%, OSTK +6%.

Gap Lower: SRNE -17%, SGH -14%, HCM -11%, PTCT -7%.

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