IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: None of note.
Notes Priced of note: EQT SNAP of note.
Common Stock filings: None of note.
Mixed Shelf Offerings: XENT MAG TRIL BJRI of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
MLNX +0.88, EW +0.29, INTC +0.18, EHTH +0.17, WWE +0.16, VRSN +0.14, MMSI +0.12, TPH +0.07, IEX +0.04, VCRA +0.04, FE +0.03, PBCT +0.03, RHI +0.03, LLNW +0.02 of note.
COF (4.29), SIVB (1.21), OZK (0.52), SSB (0.36), ABCB (0.20), EIG (0.19), ETFC (0.10), VICR (0.10), LOGM (0.06), BOOM (0.06), SEIC (0.05), SKX (0.05), ASB (0.04), FFIN (0.03) of note.
Gap Ups: WWE +12%, PBCT +11%, CHK +9%, TPH +7%, ALV +6%, VCRA +6%, B +51%, EW +5%, VICR +4%
Gap Downs:LLNW -7%, OZK -7%, SIVB -6%, INTC -4%
Hourly Action This Past Week: Updated 4/22 Close
News After The Close (In Order)
Google (GOOGL) to cut advertising budget by 50%.
Federal Reserve working to expand PPP lenders with latest capital addition.
House passes $484 billion coronavirus stimulus bill Part II.
White House shows data on impact of heat and sunlight on COVID-19. (The Washington Post)
President Trump notes that social distancing guidelines could be extended into early summer.
Raises Guidance: LLNW
Lowers Guidance: INTC (Q2) EW (2020) POR
Withdraws Guidance: MMSI IEX VCRA INTC TPH VNE
Dividend Increase: PBCT HESM
Dividend Cut or Suspension: BOOM HEP
Share Buybacks Stopped: WWE
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +20 Dow Jones Industrial Average +150 NASDAQ +40 Russell 2000 +9.54. Fair values are higher. Asia mixed and Europe mixed.
Gold, silver and copper higher. WTI Crude Oil lower 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 $139.06 from $138.95 with yields at from 0.624%.
Positive Sectors On Thursday: Materials, Energy, Industrials and Healthcare of note.
Negative Sectors On Thursday: Utilities, Consumer Goods and Financials.
One Month Winners: Materials, Energy and Conglomerates 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: None of note.
Monday Before The Open: CMS CHKP QSR L CNA UMC LECO AWI MRTX AMG DORM SALT EGOV CTB ARLP SOGO SOHU CYOU DO of note.
Earnings This Morning Of Note
AXP +0.31, B +0.21, SNY +0.19, ALV +0.14, VZ +0.04, POR +0.02 of note.
SNV (0.39), TRTN (0.04), FCX (0.01) of note.
Still to Report: FHB, GNTX, MOG.A
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: Stock indexes recover from big overnight losses as fell to 2755 on the S&P 500.
5 Things To Know To Start Your Day. (Bloomberg)
Treasury to require companies getting financial assistance to provide equity, warrants or senior debt.
Zoom (ZM) to join the NASDAQ 100.
30 workers test positive at Amazon (AMZN) warehouse outside NYC. (Business Insider)
The loss of energy jobs begins as 2500 energy workers begins. (Houston Chronicle)
Stock Index Tracking
Current through 4/23 close. Expect moving averages to improve.
Bold means a change from prior day.
The advance/decline line model is now a buy on 4/2 close. Updated through 4/23 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 6.08% with the S&P 500 lower by -11.03% through Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 13.72% through Friday’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 4/23 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.
Economic & Related:
March Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -10% from 1.2%.
University of Michigan Consumer Sentiment (final) is due out at 10:00 a.m. EDT and is expected to 66.5 from 71.
The latest NYSE and NASDAQ Short Interest is due out after the close for the period of settlement of April 15th.
President Trump will sign the extension to the stimulus bill today at 12:00 p.m. EDT, then receives a briefing on COVID-19, followed by an intelligence briefing at 3:00 p.m. EDT and finishes the day with the daily task force meeting.
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: NSRGY (Conference Call) (Webcast) GTS (Investor Meeting)
Sellside Conferences: None of note.
Industry Conferences: None of note.
Upgrades & Downgrades – We are back to normal production as recs have returned to a normal level.