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02.24.2020 9 new Morning Note posts under Morning Note (9)

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"CAPIS Morning Note – 1/24/20 Futures Higher Despite Coronavirus Concerns As Cases Rise"

posted by CAPIS on 01/24/2020 at 7:25 am

by CAPIS

01/24/2020 at 7:25 am

IPOs on deck:   None of note.

IPOs Filed:  None of note.

Secondaries Priced:   APLT ADPT of note.

Notes Priced: None of note.

Common Stock filings:  IIPR of note.

Mixed Shelf Offerings:  None of note.

Convertible Offering Files: None  of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

 SIVB +0.45, INTC +0.27, ISRG +0.10, TEAM +0.10, NBHC +0.06, WAL +0.04, NXGN +0.03, SWKS +0.02, ASB +0.01, ETFC +0.01, MRTN +0.01, DFS +0.01 of note.

Missed:

AVT (0.01), FFBC (0.01) of note.

Flat:

ABCB +0.00, FFIN +0.00

Hourly Action This Week: Updated 1/22

News After The Close (In Order of Time)

Broadcom (AVGO) signs two deals with Apple (AAPL) worth up to $15 billion.

George Soros speaks at Davos and says  “fate of the world” at stake in 2020.

Stock Repurchase Announcements:   None of note.

Dividend Increases: HTLF PE VLO CNXM MPLX WTFC HTBK TLYS (special dividend of $1)  of note.

Gap Higher: EHTH +15%, TEAM +9%, MTNB +6%, INTC +6%, NXGN +4%

Gap Lower: HSC -12%, ERIC -8%, DFS -6%, GBCI -5%, IIPR -4%, FFBC -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 +9 Dow Jones Industrial Average +81  NASDAQ +53 Russell 2000 +7.29. Fair values are lower. Asia and Europe mixed to lower.

Gold, silver and copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.72 from $129.70 with yields at 1.734% from 1.748%.  Prices as of 8:15 a.m. EDT.

Positive Sectors On Thursday: Utilities, Industrials and Technology.

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

One Month Winners: Technology, Conglomerates, Consumer Goods and Services.

Three Month Winners: Healthcare, Consumer Goods and Technology.

Six Month Winners: Consumer Goods, Healthcare, Technology, Industrials and Financials.

Twelve Month Winners: Consumer Goods,Technology, Industrials and Services.

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

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

Today After The Close:  

None of note.

Monday Before The Open:

DHO ARNC BOH NWBI ARLP HMST SALT of note.

Earnings This Morning Of Note

Beat:

APD +0.06, HRC +0.05, SYF +0.03, AXP +0.02 of note.

Flat:

SNV 0.00

Missed:   

 IBKC (0.11), ERIC (0.09) of note.

Still To Report:  MOG.A, NEE

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

Top News Story:  

Stocks making the biggest moves. (CNBC)

5 Things To Know To Start Your Day. (Bloomberg)

Five Things To Know Before Market Opens Thursday. (CNBC)

China updates Coronavirus stats, 26 dead and 830 confirmed cases, second case in Japan. (CNBC)

China has shut down 12 cities due to Coronavirus outbreak. (FT)

CNBC interviews NIH Dr. Anthony Fauci on Coronavirus. (CNBC)

Daily Impeach Trial update. (CNBC)

Qorvo (QRVO) and Skyworks (SWKS) may bid for Broadcom (AVGO) wireless chip unit. (Bloomberg)

President Trump to sign USMC deal on Wednesday but Canada has yet to approve deal. (Reuters)

Stock Index Tracking

All  stock indexes have improved recent weakness. Current through 1/23 close.

Bold means a change from prior day.

The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 1/23. In 2019, the model up 16.48% on the S&P 500 and this year is up 2.28%. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 10.3%.

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 1/23.

Economic & Related:

None of note.

Geopolitical:      

President Trump  will attend The March To Life at 12:00 p.m. EDT becoming the first president to attend since the march started 47 years ago. Then at 7:30 p.m. EDT at Andrews Air Force Basethe president will sign the National Defense Authorization Act For Fiscal year 2020 and after leave to Florida for Mar-a-Largo.

The World Economic Forum concludes in Davos, Switzerland.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  MDT (Investor Day)

Sellside Conferences: Barclays Insurance CIO  Conference & Roundtable (1/22-1/24).

Industry Conferences: Regenerative Medicine Foundation World Stem Cell Summit (1/21-1/24). American Society of Clinical Oncology Gastrointestinal Cancers Symposium (1/23-1/25). Cell Therapy Analytics and Manufacturing Conference (1/23-1/24). 2020 Crohn’s and Colitis Conference (1/23-1/25).

M&A Activity

Colgate (CL) buys Hello Products, no terms.

Seacoast Banking (SBCF) to buy Fourth Street Banking Company for $63.6 million.

Sohu.com (SOHU) in deal for Changeyou.com (CYOU) to go private.

WEX (WEX) to buy eNett for $1.7 billion.

Infrastructure Fund bids to buy Cincinnati Bell (CBB) for $12.00 a share.

Upgrades & Downgrades

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