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11.20.2019 9 new Morning Note posts under Morning Note (8) and General (1)

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"CAPIS Morning Note – 10/15/19 China Balks On Buying $50 Billion of Ag Products, Futures Still Higher Though"

posted by CAPIS on 10/15/2019 at 8:00 am

by CAPIS

10/15/2019 at 8:00 am

Breaking News   

Corporate Actions

IPOs on deck: 2 IPOs on deck this week.

IPOs Filed: None filed after the close.

Secondaries on deck: None of note.

Notes Priced: None 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:

None of note.

Missed:

None of note

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

President Trump enacts sanctions on Turkey including 50% steel tariff.

Sanmina (SANM) names Kurt Adzema as CFO.

Whiting Petroleum (WLL) may bid for Abraxas Petroleum (AXAS).

Stock Repurchase: 

Dividend Increase: OHI

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

Gap Higher: RETA +34%, SOL +10%, GLUU +9% 

Gap Lower: 

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

S&P 500 +8 Dow Jones Industrial Average +80 NASDAQ +25 Russell 2000 +4.47 Fair values are lower. Asia mixed and Europe higher.

Gold and silver slightly lower with copper lower as well. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.42 from$130.47 with yields at 1.696% from 1.734%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Monday:  None of note.

Negative Sectors On Monday: All led by Conglomerates and Utilities.

One Month Winners: Utilities, Consumer Goods, Materials and Financials.

Three Month Winners: Utilities and Consumer Goods.

Six Month Winners: Utilities, Consumer Goods and Financials.

Twelve Month Winners: Utilities, Technology, Consumer Goods and Financials.

Year to Date: Consumer Goods, Industrials and Utilities.

Hourly Action This Week:

Updated through Friday’s close. Mixed action.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  UAL JBHT PNFP HWC SNBR LMAT of note.

Wednesday Before The Open: ABT ASML USB PNC PGR BK ALLY CMA CBSH FHN  of note.

Earnings This Morning Of Note

Beat:

WIT +0.48, JPM +0.22, BLK +0.16, UNH +0.12, JNJ +0.11, APHA +0.10, FRC +0.10, PLD +0.03, OMC +0.02 C +0.02  of note.

Missed:

WFC -0.26 of note.

Still to Report: SCHW,  PACW, 

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

Top Story: China may not be able to buy $50 of ag products without tariffs dropped. (Bloomberg)

Wall Street Journal Headline: J&J’s Courtroom Losses Pile Up

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

Stocks Making The Biggest Moves (CNBC)

Chief EU Brexit Negotiator Michel Barnier notes deal on Brexit possible this week. (WSJ)

Taiwain Semiconductor (TSM) notes sales better thanks to Apple (AAPL) iPhone 11 strength. (Digitimes)

AMC Entertainment (AMC) to introduce on demand streaming. (NYT)

Data Points

Stock indexes saw no changes on Monday. Current through 10/14.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through 10/14. 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 with a gain of 1.28% on the recent buy.

YTD 60% (no change week over week) of stocks are higher and 40% are lower. Updated 10/11/19 close with next update on 10/18/19 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 10/14.

Courtesy of Phil Erlanger Research, Inc.

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:

October Empire State Manufacturing was due out at 8:30 a.m. EDT and was expected to fall to -1.0% from 2.0%. However, it was accidently released yesterday and came in at 4.

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

Geopolitical:

President Trump has his intelligence briefing, lunch with the vice president and then receives the Stanley Cup Champions St. Louis Blues at 3:10 p.m.

Democratic Presidential Debate is held tonight at 8:00 p.m. EDT.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls: TCDA (Investor Day) WDAY ZM PDFS  (Analyst Day) RWT (Conference Call)

Sellside Conferences: None of note.

Industry Conferences:  American Academy of Ophthalmology Annual Meeting (10/10-10/15). Amercian Society of Human Genetics Annual Meeting (10/15-10/19). Micro Cap Rodeo (10/15-10/16) The Michael J. Fox Foundation 13th Annual Parkinson Disease Therapeutics Conference (10/15).

M&A Activity:

Repay Holdings (RPAY) buys APS Payments for $60 million.

Upgrades & Downgrades:

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