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"CAPIS Morning Note – 4/27/20 Futures Start The Week Higher"

posted by CAPIS on 04/26/2020 at 7:51 pm

by CAPIS

04/26/2020 at 7:51 pm

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: TROX of note.

Convertible Offering Files: None of note.

Senior Notes Filed: FTCH CPA of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

None of note.

Misses:

 None of note.

Gap Ups: AXSM +51%, AUDC +12%, DB +10%, MAG +7%, HALO +7%, CNX +4%

Gap Downs: DO -61%, VSTM -13%, ERJ -4%

Hourly Action This Past Week: Updated 4/23 Close

News After The Close (In Order)

Boeing (BA) may not be recertified until late summer 2020.

Bed Bath & Beyond (BBBY) to keep stores closed to May 16th.

Italy sees credit rating maintain “outlook negative” from a major ratings agency.

Greece sees credit rating cut from positive to stable  by major ratings agency.

T-Mobile (TMUS) CEO John Legere resigns from the Board a few weeks early.

J&J Snack Foods (JJSF) CFO Dennis Moore to resign as of 7/30.

Lowers Guidance: ELY

Withdraws Guidance:  KOP

Dividend Cut or Suspension: CNP GM

Share Buybacks Stopped:

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

S&P 500 +28  Dow Jones Industrial Average +208  NASDAQ +98 Russell 2000 +21. Fair values are higher.  Asia  and Europe higher.

Gold lower with silver and copper higher. WTI Crude Oil lower and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $138.89 and$139.06 with yields at 0. from 0.599%.

Positive Sectors On Friday: Conglomerates,Healthcare and Consumer Goods of note.

Negative Sectors On Friday:  None of note.

One Month Winners: Healthcare, Technology 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: CNI KDP NXPI PPG ARE CINF BRO CE UHS PFG CGNX PKG FFIV CLR NOV OGS  of note.

Tuesday Before The Open: NVS MRK PFE PEP MMM BP UPS SPGI CAT ECL ABB UBS ROP CNC MSCI SIRI IQV   of note.

Earnings This Morning Of Note

Beat: 

 AMG +0.17, CMS +0.05, CHKP +0.04, DORM +0.02 of note.

Missed:

CNX (0.55), CNXM (0.02), AWI (0.01), UMC (0.01) of note.

Flat: 

Still to Report:  EGOV

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

Top News Story: WHO notes that no evidence that recovered patients of COVID-19 have antibodies that protect from a second infection.

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

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

Stocks Making The Biggest Moves. (CNBC)

Coronavirus update: Spread still exists in U.S. and VW starts production in Germany.

Global Coronavirus Map update. 

U.S. Coronavirus Map update.

President Trump tweets that we will not be firing Department of Health & Human Services Head Alex Azar. (Twitter)

Dr. Scott Gottlieb questions WHO Statement as is “inconsistent with everything we know about viruses”. (CNBC)

White House adviser Kevin Hassett sees Q2 GDP -20 to 30% with April unemployment at 16-17%.

SBA will cap PPP loans by bank at $60 billion of the $310 billion. (Reuters)

New York State may re-open upstate on May 15th. (Bloomberg)

Dr. Deborah Birx sees social distancing through the summer. (NBC)

Diamond Offshore (DO) declares Chapter 11.

Apple (AAPL) delays production of 2020 iPhones by a month. (WSJ)

Tyson Food (TSN) notes that chicken production to be cut and limited supply going forward.

Stock Index Tracking

Current through 4/24 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 4/24 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

The latest NYSE and NASDAQ Short Interest was out after Friday’s close for the period of settlement of April 15th and  NYSE rose by 0.30% and NASDAQ by 1.76%.

Geopolitical: 

President Trump will hold his weekly Monday call with the Governors regarding COVID-19 at 2:00 p.m. EDT. At 4:00 p.m. EDT the president will meet with industry executives on COVID-19.

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:  ERJ BA (Conference Call)  

Sellside Conferences: None of note.

Industry Conferences: American Association of Cancer Research Virtual Meeting (4/27-4/28). American Academy of Neurology Annual Meeting (4/25-5/1). American College of Obstetricians and Gynecologists Annual Clinical and Scientific Meeting 2020 (4/24-4/27)

M&A Activity

Boeing (BA) terminates joint venture with Embraer (ERJ).

Amedisys (AMED) to buy Homecare Preferred Choice for $203 million.

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