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Morning Note

"CAPIS Morning Note -3/20/20 Futures Higher"

posted by CAPIS on 03/20/2020 at 7:56 am

by CAPIS

03/20/2020 at 7:56 am

Breaking News:

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:  NHI of note.

Mixed Shelf Offerings: NHI of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

SCHL +0.30, CTAS +0.13, CRWD +0.06  of note.

Missed: 

OLLI (0.02)  0f note.

Hourly Action This Week: Updated 3/19 Close

News After The Close (In Order of Time)

Tesla (TSLA) suspends production in California and New York facilities.

Blue Apron (APRN) sees “sharp increase” in consumer demand.

Nikki Haley resigns from the Boeing (BA) board.

Store closures: SCVL IMXI KSS BBBY (50% closure)

Lowers Guidance: YELP RMAX KSS

Withdraws Guidance:  YELP DIN RMAX KSS TXRH

Higher Guidance: 

Stock Buybacks: 

Stock Buybacks Stopped: KSS

Dividend Increases: UDR INDB

Dividend Cuts: 

Reverse Stock Split Announcement: 

Gap Higher: 

GNMK +79%, CRWD +24%, SDC +12%, BBBY +10%, IHG +10%, BA +10%, OSUR +8%, CCL +7%, XLK +6%, TSLA +6%,  KSS +5%, NDLS +4%, SCHL +4%

Gap Lower: 

APRN -11%, YELP -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 +13 Dow Jones Industrial Average +166  NASDAQ +180 Russell 2000 +14 . Fair values are lower.  Asia mixed and Europe higher.

Gold, silver and copper higher. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $136.14 from $135.06 with yields at 1.024% from 1.13%.

Positive Sectors On Thursday: Materials, Energy, Services and Technology of note.

Negative Sectors On Thursday: Utilities and Healthcare.

One Month Winners: None of note.

Three Month Winners: None of note.

Six Month Winners:  None of note.

Twelve Month Winners: None of note.

Year to Date: None of note.

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

Today After The Close: None of note.

Monday Before The Open: SY of note.

Earnings This Morning Of Note

Beat: 

None  of note.

Misses:

HIBB (0.10), TIF (0.09) of note.

Still To Report:  

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 Spain death toll over 1,000 now and Saints Coach Sean Payton test positive. (CNBC)

NASDAQ hit limit up as futures strong but off highs. (CNBC)

Dems and Republicans to meet on stimulus package. (Politico)

President Trump asks states to hold off on their jobs report until the national report is released. (WSJ)

Next job report to show massive losses. (CNBC)

Walmart (WMT) to pay $500 million to its employees. (CNBC)

Stock Index Tracking

Current through 3/19 close.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 3/19 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 -25.77% 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 3/19 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

February Existing Home Sales is due out 10:00 a.m. EDT and the estimate is for an increase to 5.50 million from 5.46 million.

Geopolitical:      

President Trump will participate in the Coronavirus Task Force meeting and then has lunch with  the Secretary of State. At 3:45 p.m. EDT he speaks to small business owners.

Coronavirus Task Force holds a briefing at 11:45 a.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  IEX POL  (Conference Call)  UUU (Webcast) (Investor Day) GNUS  (Update)

Sellside Conferences: None of note.

Industry Conferences: American Academy of Dermatology Annual Meeting (3/20-3/24) , not confirmed.

M&A Activity

Masimo (MASI) to buy TNI Medical AG, no terms.

AFLAC (AFL) buys units from Zurich, no terms.

Upgrades & Downgrades are too numerous again to show today. I have never seen more of each!

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.