IPO News: WeWork (WE) shelves IPO for now. Will try to bring back at year end.
IPOs on deck: Six IPOs of note due this week including Datadog (DDOG) and Ping Identity Holding (PING).
IPOs Filed: None filed after the close.
Secondaries on deck: ATH SHOP of note.
Notes Priced: Apex Technology Acquisition -Unit.
Common Stock filings: FNKO SHOP OPRA of note.
Mixed Shelf Offerings filed:None of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note
News After The Close: (In time order after the close)
Cheniere Energy (LNG) and EOG Resources (EOG) agree on long term gas supply agreement.
SeaWorld Entertainment (SEAS) CEO resigns effective immediately, current CFO to become CEO.
Leidos (LDOS) wins $428 million task order from U.S. Army.
FedEx (FDX) to increase rates in January of 2020.
Dril Quip (DRQ) terminates Ca Rong Do project.
Accelron Pharmaceutical (XLRN) announce that Phase 2 Trial of ACE-083did not achieve secondary endpoints.
Stock Repurchase: KLAC.
Dividend Increase: KLAC MAS.
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: SBGL +4.2%.
Gap Lower: BBCP -9%, GLW -9%, FNKO -8%, XLRN -7%, DRQ -6%, SHOP -5%.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -5 Dow Jones Industrial Average -75 NASDAQ -13 Russell 2000 -6.5. Fair values are higher. Asia mixed. Europe mixed.
Gold higher, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $129.25 from $129.09 with yields at 1.81%from 1.833%. Prices as of 8:45 a.m. EDT.
Positive Sectors On Monday: Materials, Energy and Utilities.
Negative Sectors On Monday: Services, Consumer Goods and Financials.
One Month Winners: Industrials, Consumer Goods, Services and Financials.
Three Month Winners: Conglomerates, Consumer Goods, Technology, Services and Utilities.
Six Month Winners: Consumer Goods, Industrials, Conglomerates and Services.
Twelve Month Winners: Utilities, Technology, Consumer Goods and Conglomerates.
Year to Date: Conglomerates, Technology, Services, Consumer Goods and Industrials.
Hourly Action This Week:
Updated through Monday close.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Wednesday Before The Open: None of note.
Earnings This Morning Of Note
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Wall Street Journal Main Headline: International Panel to Rebuke FAA Over 737 MAX Approval.
Top Story of the Day: President Trump says U.S. has reached deal with Japan on trade and digital trade. (Bloomberg)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Stocks on the move. (CNBC)
3G Capital sells 9.3% of Kraft Heinz (KHC). (Investors Business Daily)
Stock indexes are in good shape but several broke under their 5 day moving average.
Bold means a change from prior day.
The advance/decline line moved to a buy on the close of 8/29. Updated through 9/16/19 close. Year to date model up 9.93% on the S&P 500. 4 buy signals and 3 cash signals in 2019. Cash has worked in August as we missed the volatility and now we are back to a buy.
YTD 67% (+6% week over week) of stocks are higher and 33% are lower. Updated 9/13/19 close with next update on 9/20/19 close.
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.
The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA
Economic & Related:
President Trump will depart New Mexico and head to California for a day of campaigning.
The Reserve Bank of Australia (RBA) out with its latest minutes last night and left door open to additional cuts.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: BL ZS RMBS KN CACI MAS VMC KLAC MCFT (investor day) RBNC EAST (conference call) CYCN (investor event)
Sellside Conferences: Goldman Sachs Communicopia Conference. Bank of America Merrill Lynch Healthcare Conference.
Industry Conferences: Denver Gold Forum. Grocery Shop 2019. SEMICON Taiwan.
Upgrades & Downgrades: