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Morning Note

News

Morning Note

"CAPIS Morning Note – 8/13/19"

posted by CAPIS on 08/13/2019 at 7:25 am

by CAPIS

08/13/2019 at 7:25 am

Corporate Actions 

IPOs on deck: Crossfire Bankshares (CFB) is set to go public this week.

Secondaries on deck: EVOP UDR of note.

Notes Priced: VTR NSIT  of note.

Common Stock filings: EVOP PTLA SO UDR WK of note.

Mixed Shelf Offerings filed: None of note.

Convertible Offering Files: AKAM of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

VFF +0.15, TME +0.10, PLMR +0.07, BE +0.06, GNLN +0.02 of note.

Flat:

None of note.

Missed: 

None of note.

Still to Report:  

News After The Close: (In time order after the close)

Stryker (SYK) announces commercial structure alignment.

Sarepto Therapeutics (SRPT) CEO buys $2 million of stock in the open market.

UPS CFO Richard Peretz to retire and Brian Newman named new CFO.

Perspecta (RSP) wins National Geospatial Intelligence Agency contract and task order with maximum value of $824 million.

United Natural Foods (UNFI) CFO Mike Zechmeister resigns as of 8/23 to become CFO at C.H. Robinson (CHRW).

JetBlue (JBLU) July traffic rose 5.3% from July 2018 with capacity rising 5.6%.

Shutterfly (SFLY) CTO Satish Menon to resign as of 9/6.

10 Q Delays: AMRS ADTN HAFC

Stock Repurchase:   MVBF of note.

Dividend Increase: VCTR of note.

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  

U.S. futures: S&P -7  Dow Jones -60, NDX -22  and Russell 2000 -7.01 with fair values higher hurting the open. Asia and Europe lower, click through for details by country.

Gold and silver higher with Copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.28 from $130.03 with yields at 1.64% from 1.691%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Monday: None.

Negative Sectors On Monday: Conglomerates, Financials, Industrials and Materials.

One Month Winners: Conglomerates.

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

Six Month Winners: Conglomerates, Utilities, Consumer Goods.Technology and Consumer Goods.

Twelve Month Winners: Utilities, Technology and Services.

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

Hourly Action This  Week:

Updated through Monday close. Yesterday was a struggle.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  CDK ADPT TLRY YY BILI MYGN HUYA of  note.

Wednesday Before The Open: AMCR CAE M GOOS PFGC ERJ AIT LK CTRA IHRT of note.

Earnings This Morning Of Note  

Beat: 

DOYU +2.02, JD +1.76 (in RB), GDS +0.78, IAA +0.05, EAT +0.02, ELAN +0.02, IIVI +0.01 of note.

Flat:  None of note.

Missed:

AVYA (6.36), CVET (0.26), PSN (0.21), AAP (0.21), BEST (0.12) of note.

 Yet to Report: RUBY.

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

Top News Story: 

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

Hong Kong’s airport remains partially closed with protesters still occupying the airport. (Guardian)

People’s Bank of China (PBOC) believes Yuan is at a good level.  (Reuters)

Data Points

More weakness on Monday as all 5 day moving averages were broken.

Bold means a change from prior day.

The advance/decline line moved to cash after Monday’s close. Updated through 8/9/19 close. The buy is history as we noted last week it was beginning to fade. Year to date model up 7.48% on the S&P 500. 3 buy signals and 3 cash signals in 2019. The recent buy lost -1.23%. Cash is working.

Courtesy of Quantitative Partners, Inc.

YTD  63% (-3% week over week) of stocks are higher and 37% are lower. Updated 8/9/19 close with next update on 8/16/19 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 Monday’s 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:

July CPI is due out at 8:30 a.m. EDT and is expected to rise to 0.3% from 0.1%.

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

Geopolitical:

President Trump will travel to Pittsburgh, PA to visit the Shell Pennsylvania Petrochemicals Complex and then speak at 2:10 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  HTBX MDRR (investor day) MIST (conference call- mid year update). 

Sellside Conferences:Wells Fargo Technology Services Forum. Santander Brazil Conference. Cowen & Co 5th Annual Communications Infrastructure Summit 2019. KeyBanc Capital Markets 21st Annual Technology Leadership Forum. Raymond James Park City Telecom Summit. Susquehanna Energy Industrials and Airlines Conference. Needham Annual MedTech 1X1 Healthcare Conference. Goldman Sachs Power, Utilities, MLP and Pipeline Conference. Wedbush Pac Growth Healthcare Conference. JP Morgan Auto Conference.

Industry Conferences: American Association of Diabetes Educators Annual Conference. EnerCom Oil & Gas Conference.

M&A Activity:

Jazz Pharmaceutical (JAZZ) buys Cavion for $312.50 million.

Yum Brands (YUM) CEO Greg Creed to retire and will be replaced by David Gibbs.

CIT Group (CIT) buys Mutual of Omaha Bank for $1 billion.

Upgrades & Downgrades:

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: DOYU +6%, GNLN +6%, VFF +5%, PAM +5%.

Gap Lower: VCTR -21%, PTLA -4%.

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.