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09.20.2019 14 new International Summary posts under Morning Note (10) and International Summary (4)

Morning Note

News

Morning Note

"CAPIS Morning Note -8/15/19 Futures All Over The Place As Multiple Trade Stories Floating Around"

posted by CAPIS on 08/15/2019 at 7:43 am

by CAPIS

08/15/2019 at 7:43 am

Corporate Actions 

IPOs on deck: Crossfire Bankshares (CFB) is set to go public today and was priced at $14.50 a share.

IPOs Filed:  None of note this morning.

Secondaries on deck: DCPH ACMR JFU of note.

Notes Priced:  None of note.

Common Stock filings:None of note.

Mixed Shelf Offerings filed:  None of note.

Convertible Offering Files:   None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

VIPS +0.52, NTAP +0.07, A +0.04, PRSP +0.02, SPTN +0.01, CSCO +0.01 of note.

Flat:

None of note.

Missed:

 CGC (3.29), CACI (0.21), HOLI (0.14) of note.

Still to Report: RPAY, STNE.

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

Multiple hedge fund and traditional managers reporting their latest 13F position changes.

E*Trade (ETC) names COO Mike Pizzi to the role of CEO immediately.

Stock Repurchase:  RDN of note.

Dividend Increase: MLM GPI of note.

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  Futures are all over the place this morning as early were higher, then lower and now higher again.

U.S. futures: S&P +11  Dow Jones +115  NDX +17  and Russell 2000 +6 with fair values slightly higher with minimal impact on the open. Asia and Europe mixed, click through for details by country.

Gold and silver lower with Copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.66 from $130.55 with yields at 1.557% from 1.574%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Tuesday: None.

Negative Sectors On Tuesday: .

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 Wednesday close. Yesterday was a puke.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: NVDA AMAT PAGS ZTO GLOB VIAV DDS CRMT of  note.

Friday Before The Open: DE QD of note.

Earnings This Morning Of Note  

Beat: 

BABA +2.09, CSIQ +0.42, JCP +0.13, WMT +0.05 of note.

Flat:  None of note.

Missed:

 JE (1.92) of note.

 Yet to Report: BGG, IHRT.

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

Top News Story:  See China stories below as they are coming fast and furious.

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

Chinese Ministry of Finance notes that President Xi and President Trump in touch via meetings, phones and letters. (Bloomberg TV)

China claims it has to take counter measures on September 1st tariffs. (CNBC)

U.S. applies to cease an Iranian oil tanker at the British territory of Gibraltar. (NYT)

Boeing (BA) to delay the release of the ultralong  777x. (Reuters)

30 Year Treasury falls under 2% for the first time ever. (CNBC)

Bernie Madoff Whistleblower Harry Markopolos issues critical report on General Electric (GE) accounting. (CNBC)

China sent paramilitary forces to the Hong Kong border to send a message to the protesters to back down. (CNN)

Slowdown in global economy may limit President Trump’s ability to wage a trade war. (NYT)

Data Points

Weakness on Wednesday as all indexes.

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:

Weekly Jobless Claims are due out at 8:30 a.m. EDT

July Retail Sales is due out at 8:30 a.m. EDT and is expected to fall to 0.3% from 0.4%.

July Industrial Production is due out at 9:15 a.m. EDT and is expected to move up to 0.1% from 0.9%.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

Geopolitical:

President Trump will hold a political rally in Manchester, NH tonight at 7:00 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls: EAT (investor day) CTVA (investor update).

Sellside Conferences: Raymond James Park City Telecom Summit. Needham Annual Industrials Technologies FinTech 1X1 Conference. Raymond James Aspen Energy Summit. Citi 1X1 MLP/Midstream Infrastructure Conference.

Industry Conferences: 

M&A Activity:

VMware (VMW) and Dell Technologies (DELL) to buy Pivotal Software (PVTL) for $15.00 a share.

Accenture (ACN) to buy Analytics8, no terms.

Upgrades & Downgrades:

Smart Upgrade of the Day: LEVI. The stock is down so this makes sense.

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

Gap Higher: PVTL +66%, SPTN +15%, A +8%, VIPS +8%.

Gap Lower: CGC -14%, CSCO -9%, AEG -7%, CACI -5%.

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