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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 – September 26, 2019 All Eyes on Washington as Director of National Intelligence To Testify Shortly"

posted by CAPIS on 09/26/2019 at 8:31 am

by CAPIS

09/26/2019 at 8:31 am

Breaking News -House releases Whistleblower Report

NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve conducted open market operations and took $60 billion. Now can go to $100 billion a day.

Corporate Actions 

IPO News:

IPOs on deck: Peloton (PTON) and Oportun Financial (OPRT) are priced to day and will begin trading.

IPOs Filed:  None filed after the close.

Secondaries on deck: FOR PLYM of note.

Notes Priced: CEO of note.

Common Stock filings:  BTAI PLYM CTRP PLMR of note.

Mixed Shelf Offerings filed:  UFS of note.  

Convertible Offering Files:None of note.

Senior Notes Filed:   None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

KBH +0.07, AIR +0.06 of note.

Missed:

FUL (0.04) of note

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

Lattice Semi (LSCC) and Synopsys (SNPS) extend OEM licensing agreement for Synopsys Synplify FPGA synthesis tools.

Toll Brothers (TOL) names James Boyd and Robert Parahus as Co-COOs as President and COO Richard Hartman to retire.

BAE Systems (BAESY) wins $2.7 billion Navy contract.

Lockheed Martin (LMT) wins $280 million Army contract.

General Motors (GM) making  progress with the UAW per CNBC.

Stock Repurchase: 

Dividend Increase: CHCO GBCI 

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

Gap Higher: BYND +14%, WSC +4%

Gap Lower: PSO -17%, ENTA -10%, BTAI -9%, PLYM -7%, FUL -6%, CTRP -6%

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

S&P 500 +2 Dow Jones Industrial Average +35 NASDAQ -3 Russell 2000 +1. Fair values are mixed. Asia mixed and Europe higher.

Gold, silver and copper flat to lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $130.02 from$130.69  with yields at 1.72% from 1.64%. Prices as of 8:45 a.m. EDT.

Positive Sectors On Wednesday: Technology, Services and Industrials.

Negative Sectors On Wednesday: Healthcare and Utilities.

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 Tuesday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: MU MTN PRGS CAMP UEPS of note.

Friday Before The Open: None of note.

Earnings This Morning Of Note  

Beat: 

FDS +0.15, CAG +0.05, RAD +0.04, ACN +0.03 of note.

Missed:

 None of note.

Still to Report: ATU

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

Wall Street Journal Lead Headline:

Top Story:  Whistleblower Report has been declassified and could be released today. (CNN)

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)

Director of National Intelligence Joseph Maguire will testify before Congress today. (CNN)

House Speaker Nancy Pelosi wants to narrow impeachment  inquiry and have a vote by October. (CNN)

The Federal Reserve of New York increased repo operations to $100 billion from $75 billion. (WSJ)

Department of Justice to investigate Facebook (FB) over antitrust issues. (Bloomberg)

Data Points

Stock indexes improved.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/24/19 close. Year to date model up 8.89% 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 but that is starting to struggle.

Courtesy of Quantitative Partners, Inc.

YTD  66% (-1% week over week) of stocks are higher and 34% are lower. Updated 9/20/19 close with next update on 9/27/19 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. It was the first day all indexes closed under support since September 3rd.

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:

Q2 GDP (final look) is due out at 8:30 a.m. EDT and is expected to remain at 2.0%.

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

August Pending Home Sales are due out at 10:00 a.m. EDT and are expected to come in at 0.9% from -2.50%.

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

Geopolitical:

President Trump will complete his stay at the United Nations today and be back at the White House by 1:30 p.m. EDT.

Acting Director of National Intelligence Joseph Maguire will testify to the House Intel Committee  at 9:00 a.m. EDT regarding the Whistleblower Report against President Trump.

Federal Reserve Vice Chairman Richard Clarida will speak at 11:45 a.m. EDT.

$32 billion of 7 Year Notes auctioned at 1:00 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  CSII DELL (update) GWRE ABMD BAM BIP BPR BPY BEP BBU (All Bs are Brookfield entities) SPNE NTTYY (analyst/investor day)

Sellside Conferences: Stephens CEO Bank Conference. CIBC Eastern Institutional Conference. Wells Fargo Consumer Conference and Beauty Forum.

Industry Conferences:  World Sleep Congress ((9/20-9/25). Alzheimer Association International Conference (9/24-9/27).

M&A Activity:

Upgrades & Downgrades: 

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