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"CAPIS Morning Note – 5/4/20 Friday Selling Continues This Morning"

posted by CAPIS on 05/04/2020 at 6:24 am

by CAPIS

05/04/2020 at 6:24 am

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: XAIR AVDL AFL PLAY of note.

Mixed Shelf Offerings:  SFL 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: LXE +54%, APDN +29%, QES +18%, BJRI +9%, CODX +4%

Gap Downs: SPCE -5%, SMLP -5%, SPR -4%, SFL -4%

Hourly Action This Past Week: Updated 5/1 Close

News After The Close (In Order)

Cato (CATO) has announced that it has reopened a majority of its stores.

Constellation Brands (STZ) exercises to acquire additional shares  in Canopy Growth (CGC).

Gilead Sciences (GILD) gets EUA from Europe for Remdesivir to treat COVID-19.

Designer Brands (DBI) ammends $400 million revolving credit and cannot pay dividends or buy back shares.

Rolls Royce PLC (RYCEY) cuts 8,000 jobs due to aviation weakness.

Moody’s cuts Saudi Arabia to Negative.

Warren Buffet the head of Berkshire Hathaway (BRKA)  held his annual meeting virtually and is not buying stocks yet. Sells Airlines positions.

Barron’s + on MSGE MSGS JCI NTAP FOXA HPQ ATVI 

Dividend Cut or Suspension:  PACW

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

S&P 500 -18 Dow Jones Industrial Average -137 NASDAQ -44 Russell 2000 -8.58 Fair values are mixed.  Asia mixed  and Europe lower.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and flat vs Yen. US 10 year Treasury price is at $139.11 which is unchanged  with yields at from 0.60%.

Positive Sectors On Friday: None of note.

Negative Sectors On Friday: Energy, Consumer Cyclical and Real Estate of note.

One Month Winners: Materials, Conglomerates, Financials and Services of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare, Technology and Consumer Goods of note.

Year to Date: None of note.

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

Today After The Close: WMB AIG SWKS O JKHY EXPE VAR ACGL VNO FANG MHK XPO OHI FIVN TREX of note.

Tuesday Before The Open: AGN D REGN ITW NEM LHX TRI DD SYY INCY MPC TDG MPLX AME APTV FCAU  of note.

Earnings This Morning Of Note

Beat:

 SRE +1.23, WLK +0.54, PFGC +0.46, MCY +0.22, WEC +0.11, STWD +0.06, WAB +0.02, PEG +0.01 of note.

Missed:

 TSN (0.35), CNA (0.16), PBI (0.02), CCC (0.02) of note.

Flat: 

Still to Report: GATX, KELYA, NNN, PETS

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

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

Stocks Making The Biggest Moves. (CNBC)

Coronavirus update: Roche invests in Germany and says recovered patients are likely immune.

U.S. Coronavirus Map update.

Stocks struggling on news that China hid severity of COVID-19 as U.S. attacks. (AP)

Global backlash grows as Australia and others wish to sue China. (NY Times)

U.S. and China trade deal sees Phase One 90 day enforcement provision expire on 5.15.

J. Crew cuts deal with lenders and files for bankruptcy. (CNBC)

Roche Holding (RHHBY) gets FDA approval for antibody test.

Stock Index Tracking

Current through 5/1 close.  Moving averages will be challenged today.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 5/1  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.69% with the S&P 500 lower by -9.89% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 15.21% through Thursday’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. Updated through 5/1 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

March Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -9.1% from 0.0%.

Geopolitical & Related

President Trump has no public events scheduled today.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: NXGN AKTS INNT ALXN RHHBY  (Conference Call) .

Sellside Conferences: BMO Capital Markets Global Reserve Managers and Asset Managers Conference.

Industry Conferences: Dell Technologies World 2020 (5/4-5/7). Association for Research in Vision and Opthamology (ARVO) Annual Meeting (5/3-5/7)

M&A Activity

Upgrades & Downgrades

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