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"CAPIS Morning Note – 3/25/20. Senate Passes Stimulus Bill But Wild Swings"

posted by CAPIS on 03/25/2020 at 8:03 am

by CAPIS

03/25/2020 at 8:03 am

Breaking News: Japan agrees to delay Olympics for 1 year.

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: None of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

SNX +0.18, SCS +0.07, GO +0.04, AIR +0.03 of note.

Missed: 

NKE (0.02) 0f note.

Gap Ups: 

Gap Downs: 

Hourly Action This Past Week: Updated 3/23 Close

News After The Close (In Order of Time)

Wynn Resorts (WYNN) executives agree to receive stock in lieu of a salary.

Humana (HUM) expands telehealth services.

Campbell Soups (CPB) will provide premium payments to 11,000 employees.

Jack In The Box (JACK) closes all dining rooms, borrows from credit facility.

Facebook (FB) notes that app engagement has risen globally but weakening in ad business.

Church & Dwight (CHD) sees increase in product demand during March.

White House tells anyone leaving NYC to self quarantine for 14 days.

Store closures: SBH JACK

Lowers Guidance: 

Withdraws Guidance:  WHR ENS (Q4) HNGR  EVRI WSR HLIO TGT

Stock Buybacks Stopped: RDN

Dividend Cut Or Suspended: WSR TWO

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

S&P 500 -8 Dow Jones Industrial Average +200  NASDAQ -18 Russell 2000 -9. Fair values are mixed.  Asia and Europe higher.

Gold lower, silver higher and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $137.13 from $137.91 with yields at 08.856% from 0.821%.

Positive Sectors On Tuesday:  All led by Materials, Energy, Industrial Goods and Financials.

Negative Sectors On Tuesday: Amazing none of note for the first time in quite a while.

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:  MU VRNT CRON FUL YRD SCVL PAYS VFF  of note.

Wednesday Before The Open: FDS WOR ERJ LK CSQ BITA EXPI SIG TTN MOV  of note.

Earnings This Morning Of Note

Beat: 

 of note.

Flat: WGO +0.00.

Misses:

of note.

Still To Report:  PAYX

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

Top News Story: U.S. Senate agrees on a stimulus package now must get agreement with the House plan and get passed. (CNBC)

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

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

Stocks Moving This Morning. (CNBC)

Coronavirus update: Prince Charles sets positive and Target drops guidance.  

CNBC to interview Former Federal Reserve Chairman Ben Bernanke at 8:45 a.m. EDT.

Apple (AAPL) may reopen some stores in April. (Bloomberg)

Workers at six Amazon (AMZN) warehouses have COVID-19. (NY Post)

Hydroxychloroquine is no more effective than other treatments. (Bloomberg)

Stock Index Tracking

Current through 3/24 close.

Bold means a change from prior day.

The advance/decline line model remains in cash. Updated through 3/24 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 -28.66% through last Friday. 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 3/24 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

API Petroleum Institute released their weekly Crude Oil and Gasoline Inventory Numbers at 4:30 p.m. EDT and they dre -1.28 millon barrels of Crude and -2.62 million.

The latest NYSE and NASDAQ Short Interest is out and NYSE rose  8.26%  to 17,391,319,516 while the NASDAQ rose 3.32% to 9,355,907,894.

February Durable Goods is due out at 8:30 a.m. EDT and is expected to fall to -1.40% from -0.2%.

Geopolitical:      

President Trump will receive his intelligence briefing at 11:30 a.m. EDT and will speak to non profits on COVID-19 at 2:00 p.m. EDT.

Senate to reconvene at 12:00 p.m. EDT.

Coronavirus Task Force holds a briefing at 5:00 p.m. EDT.

$41 Billion of 5 Year Notes are auctioned at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:   CRM RXN ECL QTNT GHM    (Conference Call) KSU (Webcast) FISV  (Investor Day)

Sellside Conferences: None of note.

Industry Conferences:

M&A Activity

SS&C Techs (SSNC) buys Captricity.

Upgrades & Downgrades not updated today as crazy numbers.

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