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05.26.2020 9 new Morning Note posts under Morning Note (9)

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"CAPIS Morning Note – 5/6/20 Futures Stay Positive After ADP Report Prints 20.2 Million"

posted by CAPIS on 05/06/2020 at 6:40 am

by CAPIS

05/06/2020 at 6:40 am

Breaking News: CNBC interview Federal Reserve St. Louis President James Bullard in a thoughtful interview. (CNBC)

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced:  NCLH  SILK of note.

Notes Priced of note: BLMN of note.

Common Stock filings: KURA SILK NCMI  of note.

Mixed Shelf Offerings:  CHUY  MHK of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None  of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

 DOOR +0.62, ZGNX +0.46, PAA +0.36, DVA +0.35, CAKE +0.34, EA +0.32, SBAC +0.31, DVN +0.26, SFM +0.25, VOYA +0.24, ALL +0.23, CC +0.22, EVBG +0.21, ANET +0.21, NVRO +0.21, AXNX +0.20, IOSP +0.19, SLF +0.18, CMP +0.18, CNO +0.18, MTCH +0.14, ATGE +0.14, PKI +0.14, SUPN +0.14, MELI +0.13, ACLS +0.12, KLAC +0.11, BYND +0.11, OSPN +0.11, ATVI +0.11, NEX +0.09, ATSG +0.09, OXY +0.09, PLMR +0.08, CDK +0.07, ENPH +0.06, EXEL +0.06, GTES +0.06, ONTO +0.06, MODN +0.05, BLKB +0.05, SRC +0.04, VRSK +0.04, COHU +0.04, FMC +0.03, INGN +0.03, AXTA +0.02, RSG +0.02, WU +0.02, KGC +0.02, SU +0.02, ICFI +0.02, BGS +0.01, PEAK +0.01, MEOH +0.01, TCO +0.01  of note.

Flat:  ASH +0.00, AIZ +0.00, BTG +0.00, CAMP +0.00, EQR +0.00, HTA +0.00, MATX +0.00, STOR +0.00

Misses: 

TSLX (1.29), ORCC (1.17), WES (1.07), RGA (1.02), DK (0.77), PRU (0.48), LC (0.38), JAZZ (0.38), BCO (0.37), LPSN (0.36), DIS (0.30), MAT (0.20), SIGI (0.18), GNW (0.18), PLNT (0.17), HA (0.16), NVTA (0.15), SPCE (0.12), MYGN (0.10), INSP (0.07), OTTR (0.07), DHT (0.07), JBGS (0.04), AKCA (0.03), PINS (0.01), PRO (0.01), NCMI (0.01), BLDP (0.01)  of note.

Gap Ups:

LPSN +21%, MELI +15%, SUPN +12%, NEX +9%, BYND +8%, AXNX +7%, ORCC +7%, CC +7%, GSX +6%, CAMP +6%, OSPN +6%, SRC +6%, MEOH +6%, DVN +6%, OXY +6%, RSG +5%, ATSG +5%, NIO +5%, ENPH +5%, DVA +5%, EVBG +5%, DK +5%, ATVI +4%, BGS +4%, CDTX +4%,

Gap Downs: 

PINS -17%, INGN -11%, NCMI -8%, SILK -7%, JAZZ -6%, MYGN -6%, VRT -6%, MAT -5%, PAGP -5%, ANET -4%, INSP -4%

Hourly Action This Past Week: Updated 5/5 Close

News After The Close (In Order)

Lab Corp (LH) antibody test is now available through Labcorp.com.

Disney + (DIS) sees subscribers rise to 54  million.

Raytheon Technologies (RTX) wins $325 million Navy contract.

Fitch takes Brazil to Negative.

Nordstrom (JWN) to close 16 full line stores permanently. Full restructuring underway.

Supreme Court Justice Ruth Bader Ginsburg was hospitalized for acutre cholecystitis, will participate in arguments tomorrow.

Lowers Guidance: EA SBAC ANET ENPH JAZZ FMC  LPSN OTTR

Raises 2020 Guidance: ATVI  EVBG SFM BGS  NTNX 

Withdraws 2020 Guidance: BYND  RSG MAT PKI HTA CC JBGS 

Dividend Cut or Suspension:  COHU DIS SU OSB

Dividend Increase: PEP

Share Buyback Announcements: 

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

S&P 500 +12 Dow Jones Industrial Average +105 NASDAQ +60 Russell 2000 +6.69 Fair values are higher.  Asia mixed   and Europe higher.

Gold lower, silver higher with copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.63 from $138.83 with yields at 0.70% from 0.66%.

Positive Sectors On Tuesday: Healthcare. Technology and Utilities of note .

Negative Sectors On Tuesday: Financials 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: PYPL TMUS EQIX MET FNV ES MFC WCN SQ AWK AVB ANSS NTR WELL  of note.

Thursday Before The Open: DHR BMY BDX BUD ENB RTX FIS BCE XEL BLL HLT CTVA SPG CNQ ABC MRNA  of note.

Earnings This Morning Of Note

Beat:

SMG +0.92, NXST +0.79, SBGI +0.63, ASTE +0.61, ALXN +0.51, SPR +0.47, SHOP +0.36, STNG +0.31, CVS +0.28, BWA +0.28, GM +0.28, IMOS +0.25, CARS +0.24, GSX +0.19, HZNP +0.19, TMHC +0.17, FTS +0.16, WD +0.16, ALE +0.16, RGEN +0.10, RES +0.09, ROCK +0.09, NYT +0.08, ZTS +0.08, BPMC +0.05, GPN +0.05, FTDR +0.05, ODP +0.05, OSB +0.04, VMC +0.04, DISCA +0.03, WING +0.03, EAF +0.02, KKR +0.01, SBH +0.01, GCP +0.01, CGEN +0.01 of note.

Missed:

 FUN (2.11), BG (2.01), WYND (1.53), ARES (0.75), BCOR (0.68), IONS (0.23), PZZA (0.20), HEP (0.19), PSN (0.13), FMS (0.09), AEP (0.08), ENBL (0.08), TCP (0.06), NI (0.05), PAG (0.04), MEET (0.03), AQUA (0.03), CBZ (0.03), INMD (0.02), KL (0.01), IAA (0.01), MYE (0.01), DNOW (0.01), RDWR (0.01) of note.

Flat: CDW +0.00, WM +0.00, FLIR +0.00, AVNS +0.00, GOLD +0.00, WEN +0.00, OMI +0.00

Still to Report: 

 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)

5 Things To Know Before The Market Opens For Wednesday. (CNBC)

Coronavirus update: U.S. Food Industry rebounds. Germany looks to reopening.

U.S. Coronavirus Map update.

U.S. wants EU to join inquiry into China’s handling of COVID-19, but they are reluctant. (WSJ)

China says U.S. has no evidence that COVID-19 was leaked from Wuhan Lab. (Bloomberg)

50% of workers are meat plants have tested positive for COVID-19. (Bloomberg)

Gilead Sciences (GILD) looks to expand their global supply of Remdesivir. (Reuters)

Airlines are burning $10 billion a month. (Reuters)

Stock Index Tracking

Current through 5/5 close.  Moving averages remain in decent shape.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 5/5  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 5/5 close. EVL Ranges remain above normal and are highlighted in blue BUT are starting to drop.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

MBA Mortgage Applications came out at 7:00 a.m. EDT and

The April ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall -21.5 million from -27,000. Actual 20.23 million.

Weekly Crude Oil Inventories  are due out at 4:30 p.m. EDT.

Geopolitical & Related

President Trump will sign a proclamation for National Nurses Day at 12:00 p.m. EDT and then he lunches with the vice president. At 2:00 p.m. EDT the president meets with the Governor of Iowa. Then at 3:30 p.m. EDT  the president gets his intelligence briefing. Finally, at 4:00 p.m. his press secretary holds a briefing.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: COST FAST  (Conference Call) EFSC SMMNY STM  (Investor/Analyst Meeting).

Sellside Conferences: Wells Fargo Virtual Industrials Conference (5/5-5/6). SunTrust Robinson Humphrey Life Sciences Virtual Meeting Series, (5/5-5/7). D.A. Davidson Financial Institutions Conference (5/6-5/8)

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 

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.