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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 – 10/17/19 Britain and E.U. Agree On Brexit Deal, Now Off To Parliament"

posted by CAPIS on 10/17/2019 at 7:36 am

by CAPIS

10/17/2019 at 7:36 am

Breaking News   White House Council of Economic Advisors Head Larry Kudlow to be interviewed on CNBC shortly.

Corporate Actions

IPOs on deck:  BellRing Brands (BRBR) and Innate Pharma (IPHA) of note.

IPOs Filed: None filed after the close.

Secondaries on deck:  NTRA PAGS of note.

Notes Priced: X 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:

 URI +0.19, TCBI +0.19, WTFC +0.07, CCI +0.06, CSX +0.06, CNS +0.04, NFLX +0.04, CATY +0.03, IBM +0.02, SLG +0.02, EGBN +0.01, UMPQ +0.01, WAFD +0.01  of note.

Missed:

 AA (0.16), KMI (0.02) of note

Flat:

CCK +0.00, LLNW +0.00, STLD +0.00, TBK +0.00 of note.

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

Crown Castle (CCI) receives SEC subpoena for discovery back to 2015.

Tandem Diabetes Care (TNDM) announces The New England Journal of Medicine has published on t:slim X2 insulin pump.

GameStop (GME) hires a new Chief Accounting Officer Bernard Colpitts who comes to GameStop from On Semiconductor (ON).

Stock Repurchase: 

Dividend Increase: CNXM 

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

Gap Higher: LLNW +14%, NFLX +8%, ERIC +8%, CSX +4%

Gap Lower: IBM -5%, GTLS -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 +7.91 Dow Jones Industrial Average +31 NASDAQ +38 Russell 2000 +4 Fair values are lower. Asia mixed and Europe higher.

Gold lower with silver higher with copper higher as well. WTI Crude Oil higher and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $129.77 from $130.06 with yields at 1.771% from 1.753%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Wednesday: Services, Utilities and Consumer Goods of note.

Negative Sectors On Wednesday: Materials, Energy, Technology and Healthcare.

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: ISRG TEAM ETFC PBCT WAL FFIN EXPO OZK BDN WDFC FFBC MRTN  of note.

Friday Before The Open:  KO AXP SLB SYF STT CFG KSU GNTX MAN IBKC ABCB SXT of note.

Earnings This Morning Of Note

Beat:

TSM +0.20, MS +0.15, WNS +0.12, DOV +0.09, TXT +0.09, HON +0.07, PM +0.07, POOL +0.06, PPG +0.06, SBNY +0.05, BBT +0.04, SNA +0.03, FNB +0.02, KEY +0.02, SASR +0.02, GTLS +0.01  of note.

Missed:

 ERIC (2.76), IIIN (0.28), MTB (0.09), WSO (0.03)  of note.

Flat:

SON +0.00, STI +0.00

Still to Report: BMI, EWBC, GPC, HTLD, HOMB, MDSO, UNP

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

Top Story: Britain and EU Reach Brexit Deal, now British Parliament needs to vote in favor. (Bloomberg)

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

Stocks Making The Biggest Moves And Why. (CNBC)

Irish Democratic Unionist Party will not vote for Brexit deal. (Bloomberg)

China says U.S. has to remove all tariffs to end trade war. (South China Morning Post)

House Oversight Committee Chairman Elijah Cummings died overnight. (WSJ)

Fed may pause on rate cuts. (CNBC)

Germany lowers 2020 growth forecast to 1% from 1.5%.

Data Points

Stock indexes saw no changes on Monday. Current through 10/16.

Bold means a change from prior day.

The advance/decline line moved to a cash yesterday morning. Updated through 10/16. 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 Jobless Claims are due out at 8:30 a.m. EDT

September Housing Starts are due out at 8:30 a.m. EDT and is expected to fall to 1,306,00 from 1,364,000.

September Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to -0.3% from 0.6%.

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

Geopolitical:

President Trump heads to Texas to meet with supporters in Fort Worth, attend a workshop in Alverado and then hold a rally in Dallas.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:   ARDX  ERIC HMHC  OPNT  SAFM (Investor Day)  NSRGY  (Conference Call)

Sellside Conferences: Guggenheim Broadcasting Symposium.

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

M&A Activity:

Columbia Property Trust (CXP) to buy Normandy Real Estate Management for $100 million.

Upgrades & Downgrades:

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