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"CAPIS Morning Note -4/6/20 Futures Rise On Promise Of Flattening The Curve Globally"

posted by CAPIS on 04/06/2020 at 6:44 am

by CAPIS

04/06/2020 at 6:44 am

Breaking News: Former Federal Reserve Chairman Janet Yellen will be interviewed on CNBC at 10:00 a.m. EDT.

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: CEQP of note.

Mixed Shelf Offerings:  ATEX of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

None of note.

Misses:

None of note.

Gap Ups: MESO +67%, CODX +41%, TWO +25%, XBIT +16%, OSUR +9%, LGIH +8%, SDC +7%, MMM +4%, CC +4%, OSW +4%

Gap Downs: VRA -7%, DAL -7%

Hourly Action This Past Week: Updated 4/2 Close

News After The Close (In Order)

Floor & Decor (FND) keeps stores open for pick up of online, phone or app orders.

Ratings agency keeps Germany with a strong rating and a stable outlook.

Ratings agency keeps France with a good rating and a stable outlook.

JetBlue (JBLU) cuts April schedule by 70%.

Moody’s downgrades Argentina to Ca from Caa2 and cuts outlook to negative.

Delta (DAL) sees Q2 revenues to be down 90% as cut 90% of flights.

United (UAL) and American (AAL) cut over 90% of flights in and out of NYC Metropolitan area.

Walmart (WMT) to limit the number of customers in the store.

Lowers Guidance: DAL

Withdraws Guidance:  SEM SDCCUTR RDNT

Stock Buybacks Stopped: CRVL

Dividend Cut Or Suspended: OSW

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

S&P 500 +99  Dow Jones Industrial Average +836 NASDAQ +305 Russell 2000 +56. Fair values are lower.  Asia mixed and Europe higher.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.66 from $139.09  with  yields at 0.643% from 0.595%.

Positive Sectors On Friday: All lower.

Negative Sectors On Friday: Led by Utilities, Financials, Energy and Materials of note.

One Month Winners: None of note.

Three Month Winners: None of note.

Six Month Winners:  None of note.

Twelve Month Winners: All in the red.

Year to Date: None of note.

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

Today After The Close:  None of note.

Tuesday Before The Open: LNN FLR REV GBX ANGO CONN of note.

Earnings This Morning Of Note

Beat: 

SMPL +0.06 of note.

Missed:

None of note.

Still to Report: 

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

Top News Story: News of a slowing of the pandemic causes a rebound of markets.

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

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

Stocks Moving This Morning. (CNBC)

Coronavirus update: Germany drafting plans to end lockdown.

JP Morgan (JPM) CEO Jamie Dimon notes we are in a “bad recession” with “financial stress” like 2008. (CNBC)

Bill Gates predicts a lower death rate than what The White House is saying. (CNBC)

Federal Reserve St. Louis President James Bullard says the economy is not in a freefall. (CBS)

Stock Index Tracking

Current through 4/3 close. 

Bold means a change from prior day.

The advance/decline line model is now a buy on Thursday’s close. Updated through 4/3 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 -21.34% through last  Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. 

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 4/3 close. EVL Ranges remain above normal and are highlighted in blue.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

None of note today. A slow week ahead.

Geopolitical:      

President Trump will have lunch with the Vice President at noon.

The Coronavirus Task Force to meet at 6:00 p.m. EDT for their daily press conference with the president leading the call.

$40 billion of 3 Year Treasury Notes will be sold at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: RLH IMMU INCY (Conference Call)  (Investor Day)  (Webcast) PLD  ITUB (Update)

Sellside Conferences: Goldman Sachs Cell Therapy Day – ALLO and TCRR.

Industry Conferences: None of note.

M&A Activity

Teledyne Tech (TDY) looking to buy Photonis for $550 million.

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.