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Morning Note

News

Morning Note

"CAPIS Morning Note – 10/1/19 Welcome To The Fourth Quarter!"

posted by CAPIS on 10/01/2019 at 7:27 am

by CAPIS

10/01/2019 at 7:27 am

Third Quarter Facts – S&P 500 rose 1.19% while the Russell 2000 fell -2.76%.

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

Corporate Actions 

IPO News: Fortis Minerals (NRI) files to go public.

IPOs on deck: 5 IPOs due this week all in the Biotech space.

IPOs Filed:  None filed after the close.

Secondaries on deck: HMLP of note.

Notes Priced:   None of note.

Common Stock filings: None of note.

Mixed Shelf Offerings filed:  HMLP PBCT 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)

Diamondback Energy (FANG) CEO/COO Michael L. Hollis resigns immediately due to personal reasons.

Elanco Animal Health (ELAN) to eliminate 250 positions in several locations.

Sprint (S) and Manhattan Telecommunications win $993.5 million Navy contract

United Technologies (UTX) wins a $2.2 billion Navy contract.

Lockheed Martin (LMT) wins $495 million Navy contract.

Stock Repurchase: 

Dividend Increase:

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

Gap Higher: GERN +18%, BX +4%

Gap Lower: ANAB -13%, GNFT -12%

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

S&P 500 +6.50 Dow Jones Industrial Average +58 NASDAQ +23 Russell 2000 +4.30. Fair values are mixed. Asia mixed and Europe higher.

Gold and silver higher while copper lower. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $129.84 from$130.19  with yields at 1.734% from 1.697% . Prices as of 8:25 a.m. EDT.

Positive Sectors On Monday: Consumer Goods, Services and Technology.

Negative Sectors On Monday: Materials and Energy.

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.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  SFIX UNFI LNDC of note.

Wednesday Before The Open:  PAYX LEN AYI RPM LW of note.

Earnings This Morning Of Note  

Beat: 

MKC +0.17 of note.

Missed:

None of note.

Flat:

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

Top 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)

China has bought 600,000 tons of soybeans from the U.S. into October talks. (Nikkei Report)

Chinese President Xi makes speech where he spoke of how China will dominate in the future. (Bloomberg)

Secretary of State Mike Pompeo was on call with Ukraine President with President Trump. (WSJ)

Southwest (LUV) Pilots believe the Boeing (BA) Max 737 will not return to the skies until March of 2020. (Bloomberg)

Data Points

Stock indexes saw improvement on Monday.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through 9/30/19 close. Year to date model up 8.73% on the S&P 500. 4 buy signals and 4 cash signals in 2019. The model is now in cash this morning with a gain of 1.28% on the recent buy.

YTD  66% (-1% week over week) of stocks are higher and 34% are lower. Updated 9/20/19 close with next update on 9/30/19 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 ar a Bloomberg user go to APPS CS:ERLA

Economic & Related:

September ISM Manufacturing is due out at 10:00 a.m. EDT and is expected to rise to 50.2 from 49.10.

August Construction Spending is due out at 10:00 a.m. EDT and is expected to rise by 0.4% from 0.1%.

API Petroleum Institute Data is due out at 4:30 p.m. EDT.

Geopolitical:

President Trump will have quiet day at the White House.

Federal Reserve Vice Chairman Richard Clarida will speak at 8:50 a.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  GBCI LAC NLNK (Conference Call)  EQ (Update) SMAR (Analyst Day) CCXI (R&D Day)

Sellside Conferences: Credit Suisse Annual Commodities Conference. 

Industry Conferences:   European Society for Medical Clinical Oncology (9/27-10/1). European Respiratory Society International Congress. European Society 0f Intensive  Care Medicine. Red Hat (IBM) Forum 2019.

M&A Activity:

Glacier Bancorp (GBCI) to buy State Bank (SBAZ) for $135.3 million.

Rockwell Automation (ROK) buys MESTECH Services, no terms.

NASDAQ (NDAQ) buys Center for Board Excellence, no terms.

Upgrades & Downgrades: 

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