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10.15.2019 14 new posts under Morning Note (10), CAPIS Headlines (3), International Summary (1)

Morning Note

News

Morning Note

"CAPIS Morning Note – 9/20/19 Continuing Resolution Off To Senate"

posted by CAPIS on 09/20/2019 at 7:40 am

by CAPIS

09/20/2019 at 7:40 am

NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve will conduct open market operations for  fourth day.

Corporate Actions 

IPO News: Airbnb to go public in 2020.

IPOs on deck:  

IPOs Filed:  None filed after the close.

Secondaries on deck:  FBM HTGM OPRA of note.

Notes Priced:  SAIL 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:

 SCHL +0.21 SCS +.07 of note.

Missed:

None of note

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

Western Digital (WDC) to sell its IntelliFlash business to DDN, no terms.

Xilinx (XLNX) CFO leaves for another opportunity.

KeyCorp (KEY) names Chris Gorman successor to CEO Beth Mooney.

Shoe Carnival (SCVL) names Mark Worden as President replacing Cliff Sifford.

Stock Repurchase: 

Dividend Increase: TXN ABCB  STT  MCD.

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

Gap Higher: MDR +63%, CRC +17%, SCHL +11%, SCS +6%, HEXO +4%, PING +4%,

Gap Lower: XLNX -4%

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

S&P 500 +4 Dow Jones Industrial Average +34 NASDAQ +11 Russell 2000 +4. Fair values are mixed. Asia higher. Europe mixed.

Gold, silver and copper higher to flat. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.42 from $129.55 with yields at 1.791% from 1.765%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Thursday: Conglomerates, Healthcare and Technology.

Negative Sectors On Thursday: Consumer Goods, Services and Industrials.

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 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: CMD UXIN of note.

Earnings This Morning Of Note  

Beat: 

 None of note.

Missed:

None of note.

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

Wall Street Journal Main Headline: Global Stocks Rise To End Week

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

Five Things To Know Before The Market Opens Today. (CNBC)

Stocks on the move. (CNBC)

President Trump tweets that Congress needs to pass bipartisan bill on drug pricing. (Twitter)

Whistleblower action against President Trump gains traction with the Inspector General. (NYT)

House passes continuing resolution and Senate to vote next week. (The Hill)

India lowers corporate tax rate to improve growth. (Bloomberg)

Mysterious vaping illness has now killed 8 and sickened 530. (NYT)

Private company Stripe now valued at $35 billion.

Federal Reserve St. Louis President James Bullard explains his dissent and push for a 50 basis point cut. (CNBC)

Federal Reserve Vice Chairman Richard Clarida will be interviewed on CNBC at 10:00 a.m. EDT. (CNBC)

McDermott (MDR) receives offers for its Lummus Technology unit with valuation exceeding $2.5 billion. Stock up 63%. (Reuters)

Data Points

Stock indexes are in good shape but several broke under their 5 day moving average on Monday and S&P 400 broke it Tuesday with the Russell Wednesday with some recovery Thursday.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/18/19 close. Year to date model up 10.26% 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.

Courtesy of Quantitative Partners, Inc.

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.

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 Tuesday’s close.

Courtesy of Phil Erlanger Research

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:

Geopolitical:

President Trump will receive the Prime Minister of Australia and his wife for day long and evening events at the White House.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls: PMCB NXST TRNX SMTX (conference call) 

Sellside Conferences: Bank of America Global Healthcare Conference. Credit Suisse Consumer IR 1 on 1 Day. CL King Annual Best Ideas Conference.

Industry Conferences:  SEMICON Taiwan (ends today).World Sleep Congress ((9/20-9/25). American Society of Plastic Surgeons 88th Annual Meeting. (9/20-9/23)

M&A Activity:

Akamai (AKAM) buys KryptCo, no terms.

Enersys (ENS) to buy NorthStar Battery Company for $150 million.

First Financial (FFIN) to buy TB&T Bancshares for $190 million.

Upgrades & Downgrades: 

DISCLAIMER

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