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.
Earnings After The Close:
None of note.
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
AMG +0.17, CMS +0.05, CHKP +0.04, DORM +0.02 of note.
CNX (0.55), CNXM (0.02), AWI (0.01), UMC (0.01) of note.
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)
President Trump tweets that we will not be firing Department of Health & Human Services Head Alex Azar. (Twitter)
White House adviser Kevin Hassett sees Q2 GDP -20 to 30% with April unemployment at 16-17%.
New York State may re-open upstate on May 15th. (Bloomberg)
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.
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%.
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)
Boeing (BA) terminates joint venture with Embraer (ERJ).
Amedisys (AMED) to buy Homecare Preferred Choice for $203 million.