New!
09.23.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

Morning Note

News

Morning Note

"CAPIS Morning Note -3/10/20 Dead Cat Bounce This Morning As Questions Abound About Potential White House Plan On Coronavirus"

posted by CAPIS on 03/10/2020 at 7:59 am

by CAPIS

03/10/2020 at 7:59 am

Breaking News: White House plan for response to coronavirus “not there right now”, from officials in White House. (CNBC)

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings:   None of note.

Mixed Shelf Offerings: MCRB of note.

Convertible Offering Files: Note of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

FNV +0.10, SNCR +0.06, SFIX +0.04, CASY +0.02  of note.

Missed: 

 MTN (0.40), PRPL (0.35), AVID (0.02) 0f note.

Hourly Action This Week: Updated 3/9 Close

News After The Close (In Order of Time)

Gartner (IT) cancels or postpones their conference for the rest of Q1 due to coronavirus.

Italy moves quarantine to the entire country.

Index Changes: Glaukos (GKOS) to join  S&P Small Cap 600 on 3/13 as it replaces AK Steel (AKS).

President Trump floats the idea of a payroll tax cut for hourly workers and will discuss at 5:30 p.m. EDT.

Lowers Guidance: SFIX  SNCR CNMD

Withdraws Guidance: HA (Q1) MTN (FY20) HST (FY 20) BKNG (Q1) PK (FY20)

Stock Buybacks: CTBI CIO

Dividend Increases: ITIC

Gap Higher: OVV +51%, CY +47%, MESO +22%, NVAX +168%, HAL +14%, DVN +13%, RDS.A +13%, SLB +12%, TOT +11%, XOM +9%, BP +9%, NIO +8%, CVE +7%, NVDA +6%,  FDX +4%, TSM +4%.

Gap Lower: SFIX -35%, MTN -13%, NGM -9%, CVIA -6%.

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +88  Dow Jones Industrial Average +792  NASDAQ +262 Russell 2000 +43. Fair values are  lower. Asia and Europe higher.

Gold lower with silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $137.06 from $140.17 and yields at 0.716% from 0.429%.  Prices as of 8:20 a.m. EDT.

Positive Sectors On Monday: None of note

Negative Sectors On Monday: All lower led by Materials, Energy and Financials.

One Month Winners: None of note.

Three Month Winners: None of note.

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

Twelve Month Winners: Consumer Goods, Technology, Utilities, Services and Healthcare.

Year to Date: None of note.

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

Today After The Close: CLDR KFY VSLR APEI PAYS NEX of note.

Wednesday Before The Open: PDD INXN LK UNFI VRA EXPR GNLN  of note.

Earnings This Morning Of Note

Beat: 

DKS +0.16, DOMO +0.11, IMOS +0.02, PSN +0.02 of note.

Missed:

CVIA (8.89) of note.

Still to Report: DSKE

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)

Coronavirus update: Japan announces $4 billion aid package. (CNBC)

Coronavirus Map. (Bloomberg)

Chinese President Xi visits Wuhan. (WSJ)

Oil up 7% after dropping over 20%. (CNBC)

Illinois Governor J.B. Pritzker declares a state of emergency as cases rise to 11. (Chicago Sun Times)

Cypress (CY) gets CFIUS approval for merger with Infineon.

Blackstone (BX) may bid for SOHO China for $4 billion. (Reuters)

Marathon Oil (MRO) cuts capital spending by $500  million against a budget of $2.4 billion.

Tesla (TSLA) to increase production in certain parts of Shanghai. (Reuters)

American Airlines (AAL) cuts summer international travel by 10% and domestic April capacity by 7.5%.

Delta (DAL) makes deep cuts as well. (CNBC)

Stock Index Tracking

Current through 3/9 close.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 3/9 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -6.83% before today. 5 buy signals and 4 cash signals in 2019. We moved to cash at 3116.31 on the S&P 500.

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 3/9 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

Geopolitical:      

President Trump will receive his intelligence briefing at 2:00 p.m. EDT and then at 5:30 p.m. meet with the Coronavirus Task Force at 5:30 p.m. EDT.

$38 billion of the 3 Year Treasury to be auctioned at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  FDX (Conference Call) IIVI CWK WAB  (Investor Day)  TSCO (webcast) AYX (Analyst Day)

Sellside Conferences: Deutsche Bank dbAccess 28th Annual Media, Internet and Telecom Conference (3/9-3/11). Suntrust Robinson Humphrey Annual Technology, Internet and Services Conference. (3/10-3/11). RBC Global Healthcare Conference 2020.

Industry Conferences: None of note. CERAWeek 2020 (3/9-3/10).

M&A Activity

Upgrades & Downgrades updated through 8:45 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.