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"CAPIS Morning Note -4/16/20 Trump Meets With Governors at 3:00 P.M. EDT, Probably Announces Reopening Plans After Call."

posted by CAPIS on 04/16/2020 at 6:24 am

by CAPIS

04/16/2020 at 6:24 am

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: ATHX CALA  of note.

Notes Priced of note:  None of note.

Common Stock filings:  ARCT CALA ATHX PFGC 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: 

BBBY +0.18 of note.

Misses:

None of note.

Gap Ups: RCUS +48%, URGN +18%, BBBY +12%, LTRPA +12%, VNDA +10%, CGEN +8%, AXDX +8%, XP +7%, KBR +5%.

Gap Downs: ATHX -24%, CALA -16%, LAKE -7%, PFGC -4%.

Hourly Action This Past Week: Updated 4/15 Close

News After The Close (In Order)

Noodles (NDLS) sees Q1 comps down -7.2%.

Williams-Sonoma (WSM) extends store closures through 5/3.

Redfin (RDFN) sees home buying demand down -25% year over year.

Raises Guidance: 

Lowers Guidance: AFG

Withdraws Guidance:  JACK HEI CPT ZAGG GPRO

Dividend Decreases: 

Dividend Increase:  COST

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

S&P 500 +16  Dow Jones Industrial Average +102 NASDAQ +100 Russell 2000 +4.32. 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 higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.28 from $138.75   with yields at 0.611% from 0.742%.

Positive Sectors On Wednesday: None of note.

Negative Sectors On Wednesday: Materials, Energy and Financials of note.

One Month Winners: Materials, Energy, Healthcare and Technology of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare and Technology of note.

Year to Date: None of note.

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

Today After The Close:  ISRG SKX FFIN WAL MRTN of note.

Friday Before The Open: STT SLB KSU RF CFG MUSA IBKC  of note.

Earnings This Morning Of Note

Beat:  

TSM +1.17, BK +0.14, SON +0.10, BLK +0.06, ABT +0.04, LOVE +0.01 of note.

Flat: 

Missed:

 RAD (0.22), KEY (0.20), MS (0.10) of note.

Still to Report:  BMI, HOMB

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

Top News Story:  White House to release plans on opening up of the country.

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

5 Things To Know To Start Your Thursday. (CNBC)

Stocks Making The Biggest Moves. (CNBC)

Coronavirus update: President Trump to lay out his reopening guidelines.

Global Coronavirus Map update. 

U.S. Coronavirus Map update.

Fitch downgrades Mexico to BBB-.

China may be conducting low power nuclear tests. (WSJ)

U.S. Governors warn against opening country without adequate testing. (NY Times)

Google (GOOGL) will slow hiring for the rest of the year. (Bloomberg)

Smithfield Foods (SAFM) to close Cudahy, WI and Martin City, MO facilities later this week.

Stock Index Tracking

Current through 4/15 close.  Most five day moving averages were weak yesterday.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 4/9 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 1.14% with the S&P 500 lower by -13.85% through Thursday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 10.17% through Wednesday’s close.

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 4/15 close. EVL Ranges remain above normal and are highlighted in blue.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

Weekly Jobless Claims are due out at 8:30 a.m. EDT. Came in at 5,245,000 versus estimated of 5,000,000.

March Housing Starts are due out at 8:30 a.m. EDT and is expected to fall to 1,300,000 from 1,599,000.

April Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to -25 from -12.70.

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

Geopolitical: 

President Trump will participate in calls with G-7 at 9:30 a.m. EDT, the House of Representatives at 10:00 a.m. EDT, Senate at 11:00 a.m. EDT. He then delivers remarks to celebrate America’s truckers. At 3:00 p.m. EDT he speaks with the Governors. 

Federal Reserve Chicago President Charles Evans speaks at 10:30 a.m. EDT.

The Coronavirus Task Force to meet at 5:00 p.m. EDT for their daily press conference.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: MBRX (Conference Call) NGVT (Webcast)  (Update) RDSA  (Investor Day) CANF (PDUFA Review)

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity

Gilead Sciences (GILD) may take astake in Arcus Biosciences (RCUS).

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