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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 -9/23/19 German Factory Orders Drop The Most In 10 Years, Reversing Futures"

posted by CAPIS on 09/23/2019 at 7:38 am

by CAPIS

09/23/2019 at 7:38 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: Softbank Head Masa Son in favor of ousting WeWork CEO Adam Neumann.

IPOs on deck: Three IPOS on deck this week including Peloton. 

IPOs Filed:  None filed after the close.

Secondaries on deck:  None of note.

Notes Priced:   None of note.

Common Stock filings: NINE 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:

None of note.

Missed:

None of note

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

Equity Lifestyle Properties (ELF) to split 2:1.

Northrop Gruman (NOC) wins $1.1 billion Missile Defense Agency contract.

Index changes: NVR (NVR) to join S&P 500. Jefferies (JEF) and II-VI (IIVI) to join S&P 500. Callon Petroleum (CPE) and PriceSmart (PSMT) to join S&P 600.

Stock Repurchase: 

Dividend Increase: IDA

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

Gap Higher: YUMA +11% EROS +7% MDR +6% DRD +5% 

Gap Lower: NE -9% AKS -5% GME -5% MT -5% SCHN -4%

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  Ovenight S&P 500 futures have reversed -20 points. Be careful today.

S&P 500 -6 Dow Jones Industrial Average -67 NASDAQ -11 Russell 2000 -6. Fair values are higher adding to the losses. Asia mixed. Europe lower.

Gold and silver higher and copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $130.17 from $129.42 with yields at 1.696% from 1.791%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Friday: Conglomerates, Healthcare and Technology.

Negative Sectors On Friday: 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 Friday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  ASNA of  note.

Tuesday Before The Open: AZO INFO KMX JBL NEOG BB MANU NIO of note.

Earnings This Morning Of Note  

Beat: 

 UXIN +0.44, CMD +0.02 of note.

Missed:

None of note.

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

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)

U.S and China talks were constructive last week. China’s trip to Montana and Nebraska cancelled because of media concerns. (NYT)

Sen. Elizabeth Warren moves ahead of former Vice President Joe Biden in Iowa. (CNN)

White House deployed some troops to Saudi Arabia and United Arab Emirates. (NY Times)

Saudi Arabia ARAMCO repairs  could take months longer than expected.(WSJ)

President Trump close to new trade deal with India. (NYT)

German September Factory Orders  slowed at the fastest rate in ten years. (Bloomberg)

President Trump working on a trade deal with the United Kingdom by July of 2020. (The Sun)

Apple (AAPL) iPhone 11 sales have beat expectations in Taiwan. (Digitimes)

Thomas Cook has collapsed. (Bloomberg)

Data Points

Stock indexes are in good shape with just some short term weakness on the 5 and 10 days.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/20/19 close. Year to date model up 9.76% 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 Friday’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:

None of note for today.

Geopolitical:

President Trump will head to the U.N. and holds bilateral meetings with Pakistan, Poland, New Zealand, Singapore, Egypt and  South Korea.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  PD (Pager Duty Summit) CRL (Charles River Development Global Client Conference) NVO (conference call) 

Sellside Conferences: Deutsche Bank Leveraged Finance Conference. Stephens CEO Bank Conference. Johnson Rice & Co Energy Conference. Oppenheimer Specialty Pharma & Rare Disease Fall Summit. Ladenburg Thalman Healthcare Conference.

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

M&A Activity:

DuPont (DD) to buy Ultrafiltration Membrane business from BASF (BASFY), no terms.

Upgrades & Downgrades: 

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