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"CAPIS Morning Note -3/12/20 President Trump Fails To Calm Markets"

posted by CAPIS on 03/12/2020 at 8:07 am

by CAPIS

03/12/2020 at 8:07 am

Breaking News:

IPOs on deck: IMARA (IMRA) prices its IPOP at $16.00.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings: CGEN NVAX of note.

Mixed Shelf Offerings: None of note.

Convertible Offering Files: SIEN of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

WUBA +3.85, SMTC +0.05, HUD +0.01  of note.

Missed: 

 INSG (0.02), KRO (0.02) 0f note.

Flat:

TACO, WPM, ZAGG of note.

Hourly Action This Week: Updated 3/10 Close

News After The Close (In Order of Time)

NCAA March Madness to be held without fans.

All Ivy League spring sports are cancelled.

Italy closes all stores except groceries and pharmacies.

NBA suspends season.

Lowers Guidance: 

Withdraws Guidance: 

Stock Buybacks: MSBI GMED JKS

Dividend Increases: CL WPM CTRE

Gap Higher: SIEN +14%, OI +8%, EBS +6%, SMTC +5%, TACO +5%, TLSA +4%

Gap Lower: ZAGG -30%, CGEN -16%, PRTY -16%, AAL -13%, CCL -13%, RCL -12%, UAL -12%, NCLH -11%, DAL -10%, LUV -8%, JBLU -8%, KGC -7%, BP -7%, JETS -7%, WPM -6%, CLSD -6%, SLB -5%, MSG -5%, HAL -5%, PSX -5%.

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

S&P 500 -138  Dow Jones Industrial Average -1131  NASDAQ -401 Russell 2000 -65.30. Fair values are  lower.  Asia lower and Europe mixed.

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 $138.80 from $138.11 and yields at 0.636% from 0.704%.  Prices as of 8:30 a.m. EDT.

Positive Sectors On Wednesday: None of note.

Negative Sectors On Wednesday: All of note led by Healthcare, Consumer Goods and Conglomerates.

One Month Winners: None of note.

Three Month Winners: None of note.

Six Month Winners:  Consumer  Goods, Technology 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: ADBE ORCL AVGO DOCU ULTA HTHT WORK CBPO GPS MDLA UNIT ZUO ZUMZ CAL DOMO NNBR TLYS MRAM  of note.

Friday Before The Open: HHR BKE GOGO of note.

Earnings This Morning Of Note

Beat: 

GCO +0.35, DG +0.09, RDNT +0.06 of note.

Misses:

BEST (0.21), AZUL (0.17) of note.

Still to Report: 

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

Top News Story:President Trump bans travel with Europe for next 30 days.

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

5 Things To Know Before The Stock Market Opens. (CNBC)

Stocks Moving This Morning. (CNBC)

Coronavirus update: WHO tells world to doubel down. (CNBC)

Coronavirus Map. (Bloomberg)

Australia ups stimulus to $11.42 billion. (WSJ)

President Trump pushed Treasury Secretary Mnuchin in meeting to tell Federal Reserve Chairman Powell to cut rates. (The Washington Post)

Stock Index Tracking

Current through 3/11 close.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 3/11 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 3/11 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

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

February PPI is due out at 8:30 a.m. EDT and are expected to fall to -0.20% from 0.50%.

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

Geopolitical:      

President Trump will meet with the Prime Minister of Ireland at 11:00 a.m. EDT and then receives his intelligence briefing at 1:45 p.m. EDT.

The European Central Bank (ECB) announces its anti-crisis measures and left interest rate changes.

$16 billion of the 30 Year Treasury to be auctioned at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  TALO PH ARDS  (Investor Day)  SLAB (Analyst Day) RUBY (Business Update)

Sellside Conferences: Barclays Global Healthcare Conference 2020 (3/10-3/12). Susquehanna Financial Group 9th Annual Technology Conference (3/11-3/12). D.A. Davidson Annual Consumer Growth Conference. (3/12).

Industry Conferences: None of note.

M&A Activity

Upgrades & Downgrades updated through 8:45 a.m. EDT.

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