IPOs on deck: Revolution Medicines (RVMD) priced at $17 with expected range of $14-16.
IPOs Filed: None of note.
Secondaries Priced: AVRO of note.
Notes Priced: None of note.
Common Stock filings: AVRO DCPH CBIO ASPN TSLA of note.
Mixed Shelf Offerings: HR CG of note.
Convertible Offering Files: of note.
Senior Notes Filed: None of note.
Earnings After The Close:
CRSP +1.21, CXW +0.59, AEL +0.33, QDEL +0.18, TCX +0.18, ARES +0.16, QLYS +0.15, CPA +0.15, AM +0.12, SSNC +0.11, AR +0.08, TRMB +0.06, AVLR +0.06, WCN +0.06, ANDE +0.05, ASGN +0.05, PS +0.05, AMAT +0.05, EFX +0.04, KAI +0.04, RDFN +0.04, TRIP +0.04, HUBS +0.03, REG +0.03, KGC +0.03, NLY +0.02, CHNG +0.02, IFF +0.02, NWE +0.02, PGRE +0.02, NTB +0.01, CDNS +0.01, CSCO +0.01, PRSP +0.01, SLF +0.01 of note.
EQIX (2.60), MGM (0.19), ATUS (0.18), PEGA (0.18), QUOT (0.07), COHU (0.04), MRO (0.03), NTAP (0.02), CF (0.01), MFC (0.01), LPI (0.01), SPWR (0.01) of note.
AKR +0.00, CTL +0.00, CHEF +0.00, EQC +0.00, FR +0.00, FCPT +0.00, HR +0.00, NUS +0.00, STAG +0.00, TTGT +0.00, TYL +0.00, WELL +0.00 of note.
Hourly Action This Week: Updated 2/11
News After The Close (In Order of Time)
Anika Therapeutics (ANIK) names Dr. Cheryl Blanchard interim CEO as of this morning.
Mobile World Congress cancelled due to coronavirus.
MGM Resorts (MGM) CEO Jim Murren to step down but will stay until successor picked.
C.H. Robinson (CHRW) Executive Chairman John Wiehoff to retire.
Tesla (TSLA) Recalls 15,000 Model X cars over power steering issues.
Coronavirus stats updated in China and 15,000 newly infected added with 256 new deaths.
Stock Repurchase Announcements: IDXX REG
Dividend Increases: CSX NUS CSCO PAG EQIX SSTK
FTSI +11%, RDFN +71%, NEPT +7%, AR +6%, CRSP +4%, CPA +4%.
BE -24.4%, AKRX -24., QUOT -17%, CBIO -16%, NUS -15%, NTAP -13%, TTGT -11%, SPWR -11%, PS -10%, HEAR -8%, AVRO -7%, ICL -6%, LPI -5%, CTL -5%, CSCO -5%, MGM -5%, NICE -5%, ATUS -4%, IFF -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 -17 Dow Jones Industrial Average -146 NASDAQ -64 Russell 2000 -8.38. Fair values are lower. Asia and Europe lower.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.97 from $130.75 with yields at from 1.623%. Prices as of 8:30 a.m. EDT.
Positive Sectors On Wednesday: Materials, Energy, Services and Tecchnology of note.
Negative Sectors On Wednesday: None of note.
One Month Winners: Conglomerates, Utilities, Technology and Consumer Goods.
Three Month Winners: Healthcare, Consumer Goods and Technology.
Six Month Winners: Consumer Goods, Utilities, Healthcare, Technology, Industrials and Financials.
Twelve Month Winners: Consumer Goods,Technology, Utilities, Industrials and Services.
Year to Date: Conglomerates, Utilities, Technology, Consumer Goods and Industrial Goods.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: NVDA RSG DLR DXCM ANET EXPE AEM GDDY ROKU BKI BFAM MHK CGNX,
Friday Before The Open: AZN ENB PPL NWL CGC POR ESNT MGP AXL.
Earnings This Morning Of Note
BABA +2.49, NICE +1.58, BPMC +0.41, AER +0.41, FAF +0.33, BAM +0.32, TPX +0.20, HII +0.18, FTS +0.17, ALKS +0.17, GNRC +0.16, BWA +0.14, KELYA +0.13, PBF +0.12, HE +0.10, WST +0.10, DAVA +0.09, INCY +0.09, AGIO +0.08, DAN +0.07, POOL +0.07, IRWD +0.07, LH +0.06, PDS +0.06, SITC +0.06, YETI +0.05, WEX +0.05, DUK +0.04, ZTS +0.04, WM +0.04, FIS +0.04, KHC +0.04, ALE +0.04, IRM +0.02, AIMC +0.02, AIG +0.02, LECO +0.02, PBFX +0.01 of note.
EEX +0.00, HIMX +0.00, HUN +0.00, TU +0.00, SON +0.00, WH +0.00, TRP +0.00, THS +0.00, PEP +0.00 of note.
GTLS (0.20), CBB (0.16), SSTK (0.14), ZBRA (0.09), WSO (0.07), TUFN (0.02) of note.
Still To Report:
AVP, DLPH, IPGP, MTRN, NMRK, NVMI, PATK, R
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story:
5 Things To Know To Start Your Day. (Bloomberg)
Stocks Moving This Morning. (CNBC)
First coronavirus death in Japan. (Bloomberg)
COVID 19 map in Asia. (NYT)
United Airlines (UAL) extends travel ban to China and Hong Kong until April 24th.
Southwest Airlines (LUV) extends period of not flying the 737 Max into August. (CNBC)
McClatchy files for bankruptcy. (The Washington Post)
Stock Index Tracking
All back to positive. Current through 2/12 close.
Bold means a change from prior day.
The advance/decline line model moved to cash 1/31. Updated through 2/12. In 2019, the model was up 16.48% on the S&P 500 and this year is up 2.08%. 5 buy signals and 4 cash signals in 2019. Current buy signal ended with a gain of 9.83% and began on 10/17/19. We failed to get back to a buy this morning and now the earliest it could come would be Friday morning if we can keep the 10DMA above +200.
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 2/12.
Economic & Related:
January CPI is due out at 8:30 a.m. EDT and came in at last month at 0.2% and is expected to stay there.
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.
President Trump will participate in a meeting with Governor of NY State Andrew Cuomo at 3:00 p.m. EDT.
Federal Reserve Nominee Judy Shelton appear before the Senate for confirmation hearing.
$19 Billion of 30 Year Treasuries at 1:00 p.m. EDT.
The Mexican Central Bank will be out with its latest interest rate decision at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: VZ EMR SUZ (Investor Day) (Conference Call) JNPR (Webcast) GNBT (Update)
Sellside Conferences: Goldman Sachs Technology and Internet Conference (2/11-2/13). Stifel Transportation and Logistics Conference (2/11-2/13). Loop Capital Transportation, Logistics and Materials Conference (2/12-2/13). Guggenheim Healthcare Talks Oncology Day 2020 (2/13-2/14). Keefe Bruyette & Woods Winter Financial Services Symposium (2/13-2/14).
Industry Conferences: Metro Connect USA (2/10-2/12). BIO CEO & Investor Conference (2/10-2/11). Chicago Auto Show (2/8-2/17). Enercom Dallas Energy Investment Conference. (2/11-2/12). Developers SF Bay Area Conference and Expo 2020 (2/12-2/16).
Fox Factory (FOXF) to buy SCA Performance Holdings in $328 million transaction.
Upgrades & Downgrades through 8:30 a.m. EDT 2/12