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

Morning Note

News

Morning Note

"CAPIS Morning Note – 11/7/19 China Wants A Quid Pro Quo On Trade"

posted by CAPIS on 11/07/2019 at 7:38 am

by CAPIS

11/07/2019 at 7:38 am

IPOs on deck: 89bio (ETNB), Galera (GRTX), Centogene (CNTG), Silvergate Capital (SI), 36Kr Holdings (KRKR)  on deck for today.

IPOs Filed: None filed after the close.

Secondaries Priced:  YETI  ARGX AM ARVN QTNT, EOLS of note.

Notes Priced:  PEAK ABR of note.

Common Stock filings:  ELOS ARVN QTNT UFS AM AGIO ARI SWK of note.

Mixed Shelf Offerings filed:   CYTK WYNN ALB AXNXof note.

Convertible Offering Files: CYTK ARI of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:   

 VNDA +1.77, AEL +1.55, CXW +0.70, BIDU +0.59, DXCM +0.45, TMST +0.35, PBYI +0.33, EQH +0.32, IAC +0.31, EBS +0.31, ECPG +0.25, PAAS +0.23, NTRA +0.22, GDDY +0.21, NVRO +0.18, LHCG +0.18, NKTR +0.16, ANSS +0.16, TLND +0.15, BNFT +0.15, DXPE +0.14, FOXA +0.14, PSDO +0.11, PRI +0.11, SLF +0.10, SGMO +0.10, LOPE +0.09, AAOI +0.09, BAND +0.09, BL +0.09, IIPR +0.09, SEDG +0.08, MRO +0.08, CECO +0.08, LVGO +0.08, OSUR +0.08, QCOM +0.07, TCX +0.07, VVV +0.07, BRKS +0.07, TXMD +0.06, OR +0.06, ELF +0.06, RAMP +0.06, FLT +0.05, IVC +0.05, WK +0.05, RUBI +0.05, SAIL +0.05, GKOS +0.05, SQ +0.05, ICFI +0.04, ENS +0.04, ALB +0.04, EGAN +0.04, ATSG +0.04, MFC +0.03, FISV +0.03, RDFN +0.03, ROKU +0.03, NEX +0.03, LCI +0.03, TTGT +0.03, FG +0.03, LNT +0.03, SJI +0.02, RGLD +0.02, PK +0.02, QTWO +0.02, UPWK +0.02, ANGI +0.02, PGRE +0.02, TWNK +0.01, CNDT +0.01, PROS +0.01, GMED +0.01, EVRG +0.01, PRSC +0.01  of note.

Missed: 

 DCP (1.87), UHAL (0.97), WYNN (0.73), PDCE (0.70), FOSL (0.55), VSLR (0.48), EXPE (0.43), TPC (0.25), NVTA (0.24), COLL (0.21), TPIC (0.19), SUN (0.18), CVNA (0.17), SWX (0.15), PSEC (0.14), ERI (0.14), IQ (0.13), DVAX (0.11), TRIP (0.11), ZAYO (0.09), PLYA (0.07), SPTN (0.07), MTRX (0.06), TELL (0.05), ORA (0.04), REZI (0.04), IMMR (0.04), WTTR (0.04), ET (0.04), ZAGG (0.03), RCII (0.03), AXGN (0.03), QUOT (0.03), DAR (0.02), EOG (0.02), IAG (0.02), GLUU (0.02), CTL (0.01), STAY (0.01), INSG (0.01), FSCT (0.01), KGC (0.01)  of note.

Flat: 

AIMT +0.00, VERI +0.00, FLO +0.00, RP +0.00, ATO +0.00, HOLX +0.00 of note.

Hourly Action This Week:

Updated through Tuesday’s close.

News After The Close (In Order of Time)

Hawaiian Holdings (HA) sees October traffic up 5% with capacity up 2.1%. Load factor up 2.4%, year over year to 88%.

RealPage (RP) buys Buildium for $580 million in cash.

Costco (COST) sees October comps up +5.7%.

Infinera (INFN) delay 10-Q.

Netflix (NFLX) CEO Reed Hastings in CNBC interview announces that he will take spending “quite a bit”.

Alphabet (GOOGL) board looks into “inappropriate realtionships” between executives and employees.

Alphabet (GOOGL) will look into changing political ad policy.

Two former employees of Twitter (TWTR) charged by Department of Justice for spying to the benefit of Saudi Arabia.

Stock Repurchase Announcements: GDDY FOXA EQH FLT HBB CNHI GTN TM

Dividend Increase: PSDO NBHC ATO EVRG UNIT SLF  KMPR WRK STRA NRG

Dividend Decrease: NLSN

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

Gap Higher:

VNDA +26%, DXCM +22%, ASRT +18%, LVGO +15%, CBB +14%, IVC +14%, CECO +13%, CNDT +12%, BL +11%, JE +11%, TXMD +11%, ANGI +9%, GDDY +9%, ELF +91%, SAIL +91%, MT +81%, NEX +7%, IQ 7%, IIPR +7%, BIDU +6%, QCOM +6%, CHRS +6%, NKTR +5%, AVP +5%, ALB +5%, AEL +5%, EYE +5%, RDFN +5%, ET +5%, EBS +5%, UNIT +5%, NLSN +5%, FOXA +5%, DNR +4%

Gap Lower: 

OBSV -30%, FOSL -29%, TPIC -19%, PBYI -18%, BAND -16%, INSG -15%, GLUU -15%, ROKU -14%, EXPE -13%, AAOI -12%, VERI -11%, RP -10%, RUBI -9%, QTWO -9%, QTNT -9%, LCI -7%, EYPT -7%, QUOT -7%, FSCT -6%, STNG -5%, UPWK -5%, CVNA -5%, STAY -5%, COMM -5%, AGIO -4%, RCII -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 +111 NASDAQ +49 Russell 2000 +12 Fair values are mixed. Asia and Europe higher.

Gold and silver lower and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $128.80 from $129.11 with yields at 1.877% from 1.835%. Prices as of 8:30 a.m. EDT.

Positive Sectors On Wednesday:  Healthcare, Consumer Goods and Financials of note.

Negative Sectors On Wednesday: Materials, Energy and Conglomerates of note.

One Month Winners: Healthcare, Industrials, Financials and Technology.

Three Month Winners: Industrials, Financials and Consumer Goods.

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

Twelve Month Winners: Utilities, Technology, Industrials and Services.

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:  

DIS BKNG ATVI MNST MTD DISH SYMC TTWO BGNE TTD DBX NWSA of note.

Friday Before The Open:

 ENB DUK HMC AEE MGA AER STWO ESNT SVC CLNY DRH EPAY of note.

Earnings This Morning Of Note

Beat:   

LXRX +1.41, AZUL +0.56, ADNT +0.37, CNQ +0.28, GOGO +0.24, GTS +0.18, CAH +0.18, GTN +0.17, OGE +0.15, MBUU +0.13, HII +0.11, COMM +0.11, VSTO +0.10, CCOI +0.10, NLSN +0.09, DISH +0.08, STRA +0.08, TSG +0.08, XRAY +0.07, KTB +0.07, NCLH +0.06, EYE +0.06, CNP +0.06, ZTS +0.06, EPAM +0.06, WWW +0.05, DISCA +0.05, WRK +0.05, ESI +0.05, CEVA +0.05, SBH +0.05, FOCS +0.04, TGI +0.04, VIVO +0.04, CORE +0.04, NHI +0.03, ABC +0.03, EVOP +0.03, ACIW +0.02, TW +0.02, JCI +0.02, DESP +0.02, BIP +0.02, ICL +0.01, NOMD +0.01, TU +0.01, HIMX +0.01, NBL +0.01, AG +0.01, DNR +0.01, HAIN +0.01 of note.

Missed:   

WMS (0.50), PRTY (0.29), NRG (0.27), MT (0.25), TWI (0.22), RLGY (0.22), SEAS (0.18), CBB (0.16), TAST (0.15), AMC (0.13), COT (0.10), SATS (0.08), AVA (0.07), STNG (0.05), CAMT (0.04), MSGN (0.03), TTI (0.03), ECOM (0.03), THS (0.03), PGTI (0.02), SNH (0.02), EAF (0.02), APD (0.02), HL (0.02), PLUG (0.02), TEVA (0.01) of note.

Flat:

TGNA +0.00, KDP +0.00, BCC +0.00, CMCO +0.00  of note.

Still to Report:

CLVS, HRTX, INXN, KOP, MCFT, MDP, MPAA, NGL, NVMI, PCRX, PRFT, PNW, RL, SSW, USPH.

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

Top News Story: Chinese Ministry of Commerce says U.S. and China agree to cancel tariffs in stages with progress to deal. (CNBC)

The Wall Street Journal Lead Headline: 

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

Stocks Making The Biggest Moves (CNBC)

Bank of England (BOE) leaves rates unchanged but two vote for a cut. (Bloomberg)

Chinese state media further states no tariff removal no Phase One. (CNBC)

China jails eight people who are charges with smuggling fentanyl into U.S. (Reuters)

China moves to ban e-cigarettes in public places. (Bloomberg)

Nielsen (NLSN) to split into two companies. (MarketWatch)

Data Points

All stock indexes see the best possible strength. Current through 11/06.

Bold means a change from prior day.

The advance/decline line model is now a buy. Updated through 11/06. Year to date model up 10. 64% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.

YTD 62% (+2% change week over week) of stocks are higher and 38% are lower. Updated  through 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 11/04.

Economic & Related:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

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

$19 billion of 30 Year Treasuries are auctioned at 1;00 p.m. EDT.

Geopolitical:

President Trump will have a quiet day after traveling yesterday.

Federal Reserve Dallas President Robert Kaplan speaks at 1:00 p.m. EDT

Federal Reserve Atlanta President Raphael Bostic to speak at 7:00 p.m. EDT.

Conferences & Analyst Meetings:

Company Analyst Meetings and Conference Calls:  UEEC PGR AZRE  (Conference Call), APO  STRA (Investor Day.

Sellside Conferences: Baird Global Industrial Conference (11/5-11/7). Piper Jaffray Western Bank Symposium (11/6-11/7)

Industry Conferences: Kia World (11/4-11/7). Society for Immunotherapy of Cancer Annual Meeting (10/6-10/10)

M&A Activity

RealPage (RP) buys Buildium for $580 million in cash.

Xerox (XRX) makes a bid for Hewlett Packard (HPQ).

Upgrades & Downgrades: Updated through 8:30 a.m. EDT

About the Author

[Author info unavailable]

Subscribe to Stay Informed

Stay informed by subscribing to information that matters to you. We'll email you when we post new content you want to see.


DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.