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11.21.2019 10 new Morning Note posts under Morning Note (9) and General (1)

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Morning Note

"CAPIS Morning Note – 10/16/19 Futures Down Slightly, Retail Sales Drop -0.3%"

posted by CAPIS on 10/16/2019 at 7:37 am

by CAPIS

10/16/2019 at 7:37 am

Breaking News   

Corporate Actions

IPOs on deck: Karat Packaging (KRAT) of note.

IPOs Filed: None filed after the close.

Secondaries on deck: PRNB PRQR RYTM of note.

Notes Priced: None of note.

Common Stock filings: PRNB PRQR RYTM NTRA of note.

Mixed Shelf Offerings filed:  GRTS ARCE of note.

Convertible Offering Files: X of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

SNBR +0.15, UAL +0.11, PNFP +0.10, HWC +0.02  of note.

Missed:

JBHT (0.05) of note

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

MGM Reorts (MGM) sells Circus Circus Las Vegas to Treasure Island Owner Phil Ruffin for $825 million. Sells Bellgaio for $4.25 billion to Blackstone Real Estate in a joint venture.

American Vanguard (AVD) guide Q3 lower. Cuts 2019 revenue guidance.

Eaton (ETN) to sell lighting buisness to Signify for $1.4 billion in cash.

McKesson (MCK), Cardinal Health (CAH) and AmerisourceBergen (ABC) in talks to settle opioid litigation.

Stock Repurchase: 

Dividend Increase: 

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

Gap Higher: SNBR +10%, MCK +8%, ABC +6%, CDXC +5%

Gap Lower: PRQR -12%, RYTM -11%, PRNB -6%, AKBA -4%, X -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 -2 Dow Jones Industrial Average -12 NASDAQ -13 Russell 2000 -1 Fair values are lower. Asia mostly higher and Europe mixed.

Gold higher with silver slightly lower with copper lower as well. WTI Crude Oil higher 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 $130.06 from $130.42 with yields at 1.753% from 1.696%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Tuesday:  Healthcare, Technology and Services of note.

Negative Sectors On Tuesday: Utilities.

One Month Winners: Utilities, Consumer Goods and Technology.

Three Month Winners: Utilities, Industrials and Consumer Goods.

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

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

Year to Date: Technology, Industrials, Consumer Goods, Services and Utilities.

Hourly Action This Week:

Updated through Tuesday’s close. Mixed action.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  of note.

Wednesday Before The Open:  of note.

Earnings This Morning Of Note

Beat:

PNC +0.14, BK +0.08, BAC +0.07, CMA +0.06, CBSH +0.06, ASML +0.04, USB +0.04, ALLY +0.03, FHN +0.01  of note.

Missed:

PACW (0.01) of note.

Still to Report: HTLD, PGR

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

Top Story: 

Wall Street Journal Headline:

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

Hedge Fund Manager Leon Cooperman notes stock market would drop 25% if Elizabeth Warren elected. (CNBC)

Top moments from Democratic debate. (CNBC)

Data Points

Stock indexes saw no changes on Monday. Current through 10/15.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through 10/15. 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 10/15.

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:

Weekly MBA Mortgage Applications came in with a rise of 0.5%.

September Retail Sales are due out at 8:30 a.m. EDT and are expected to fall to 0.3% from 0.4%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Geopolitical:

President Trump has a day long meeting with the President of Italy with a meeting with Congressional leadership at 3:00 p.m. EDT.

The latest Federal Reserve Beige Book is due out at 2:00 p.m. EDT. 

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:  BLKB  JEF (Investor Day)   (Analyst Day) RGSE (Conference Call)

Sellside Conferences: None of note.

Industry Conferences:  Amercian Society of Human Genetics Annual Meeting (10/15-10/19). Micro Cap Rodeo (10/15-10/16). North American Pediatric Gastroenterology, Hepatology and Nutrition Annual Meeting (10/16-10/19)

M&A Activity:

Upgrades & Downgrades:

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