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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 – 11/1/19 – Jobs Friday and ISM Manufacturing To Dictate Trading Action"

posted by CAPIS on 11/01/2019 at 7:38 am

by CAPIS

11/01/2019 at 7:38 am

Breaking News – Jobs came in at 128,000 crushing estiamtes of 85,000.

Corporate Actions

IPOs on deck: Fangdd Network Group (DUO) LGL System Acquisition Unit (DFNSU) FinServ Acquisition Unit (FSRVU) Osprey Acquisition Unit (SFTWU) to be priced today.

IPOs Filed: None filed after the close.

Secondaries Priced:  of note.

Notes Priced: None of note.

Common Stock filings:  None of note.

Mixed Shelf Offerings filed: OSPN of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

CRC +0.85, HTH +0.36, ANET +0.29, QRVO +0.22, BIO +0.20, PMT +0.18, ARCB +0.15, AYX +0.15, FTAI +0.13, SEM +0.12, BLDR +0.12, FTNT +0.11, GLPI +0.11, MTZ +0.11, NPTN +0.09, AMN +0.08, SHLX +0.07, X +0.06, FNKO +0.06, MTX +0.05, MINI +0.05, OEC +0.05, PINS +0.05, BRKR +0.05, RMAX +0.04, SSNC +0.04, ERII +0.04, CWST +0.04, SM +0.03, ACLS +0.03, MRC +0.03, WU +0.03, LOCO +0.02, JCOM +0.02, VICI +0.02, AIV +0.01, CPT +0.01, NFG +0.01, OTEX +0.01, CDNA +0.01, MERC +0.01, APPN +0.01, GPOR +0.01 of note.

Missed: 

MELI (2.97), CAR (0.68), TDS (0.21), BLUE (0.19), CASA (0.13), TGH (0.10), USM (0.09), OLN (0.07), LYV (0.05), ATR (0.03), BGS (0.03), MOBL (0.01)  of note.

Flat: 

PDFS +0.00 of note.

Hourly Action This Week:

Updated through Wednesday’s close. Mixed action.

News After The Close (In Order of Time)

Align Tech (ALGN) announces a new Invisalign product for moderate teeth straightening.

Magellan Health (MGLN) names new CEO Kenneth Fasola as of 11/14.

Stock Repurchase Announcements: EBSB

Dividend Increase: CHCT

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

Gap Higher:

BGNE +27%, CRC +26%, LOCO +12%, QRVO +11%, NPTN +10%, ERII +10%, FTNT +8%, BRKR +6%, AYX +5%, BAH +5%, CPT +5%, RMAX +5%, X +4%, ACLS +4%, CWST +4%

Gap Lower: 

CASA -27%, ANET -27%, AVID -24%, PINS -19%, MOBL -17%, CAR -12%, CDNA -7%, LYV -5%, FND -4%, APPN -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 +12 Dow Jones Industrial Average +102 NASDAQ +38 Russell 2000 +3.35. Fair values are mixed. Asia mixed and Europe mixed.

Gold lower with silver higher and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.33 from $129.88 with yields at 1.693% from 1.738%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Thursday:  Utilities and Consumer Goods of note.

Negative Sectors On Thursday:  Conglomerates, Basic Materials, Energy and Industrials of note.

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.

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

Today After The Close:  

None of note.

Monday Before The Open:

 SYY RACE FE UAA BHC LANC REC PEGI GHDX KOS MMYT TRS GCI of note.

Earnings This Morning Of Note

Beat:

BABA +2.42, NWL +0.18, FTS +0.16, CBOE +0.14, IBP +0.11, BAH +0.10, TPB +0.10, LYB +0.09, AMAG +0.09, XOM +0.09, SRE +0.07, ITT +0.07, PBA +0.05, TRP +0.05, OPI +0.05, WOW +0.05, RUTH +0.05, BGG +0.05, D +0.04, PNM +0.04, HRC +0.04, ABBV  +0.03, POR +0.02, HMSY +0.02, IMGN +0.01, FND +0.01, CL +0.01  of note.

Missed:  

AIG (0.28), ASIX (0.12), USX (0.09), MGLN (0.08), WPC (0.06), CCJ (0.03), HE (0.02), XENT (0.02) of note.

Flat:

MGI +0.00, GSHD +0.00, HAE +0.00, MD +0.00 of note.

Still to Report:

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

Top News Story: Today is Job’s Friday but the ISM Manufacturing Index due out at 10:00 a.m. may be more important today. (CNBC)

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

Stocks Making The Biggest Moves (CNBC)

Commerce Secretary Wilbur Ross interviewed on Fox Business at 7:45 a.m. EDT.

China Foreign Ministry says the China and U.S. are working closely. (Reuters)

Quantas grounded three Boeing (BA) 737 airplanes due to cracks. (WSJ)

Data Points

Stock indexes remain strong. Current through 10/31.

Bold means a change from prior day.

The advance/decline line model is now a buy. Updated through 10/31. Year to date model up 10. 64% on the S&P 500. 5 buy signals and 4 cash signals in 2019.

YTD 62% (+2% change week over week) of stocks are higher and 38% are lower. Updated 10/25/19 close with next update on 11/1/19 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 10/31.

Economic & Related:

The October Jobs Report is due out at 8:30 a.m. EDT and is expected to fall to 80,000 from 136,000.  The unemployment rate is expected to fall to 3.5% from 3.6%.

October ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to rise to 48.7 from 47.8.

Geopolitical:

President Trump heads to Mississippi tonight for a Keep America Great Rally.

Bloomberg to interview Federal Reserve Vice Chairman Richard Clarida at 9:30 a.m. EDT.

Federal Reserve Vice Chairman Richard Clarida speaks at 1:00 p.m. EDT as does Federal Reserve Governor Randal Quarles.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:  None of note.

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity

Upgrades & Downgrades:

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