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Morning Note

"CAPIS Morning Note – 5/14/20"

posted by CAPIS on 05/13/2020 at 8:20 pm

by CAPIS

05/13/2020 at 8:20 pm

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: PING AXLA KNSA  of note.

Notes Priced of note:  None of note.

Common Stock filings: CRK VGR  of note.

Mixed Shelf Offerings: ALEC  of note.

Convertible Offering Files: VECO of note.

Senior Notes Filed:   of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

OII +0.23, CSCO +0.08, FLO +0.08, STE +0.06, RVLV +0.02  of note.

Misses: 

ONEM (0.23), JACK (0.20), VRTU (0.15), SDC (0.10) of note.

Hourly Action This Past Week: Updated 5/13 Close

News After The Close (In Order)

American Society of Clinical Oncology (ASCO) abstracts begin to roll out after the close yesterday.

Mastercard (MA) starts to see normalization of markets in some areas.

Boeing (BA) wins Navy contracts at $1.98 bullion and $660 million.

Lowers Guidance:

Raises Guidance: 

Withdraws 2020 Guidance: JACK VRTU STE

Dividend Increase: 

Dividend Cut or Suspended: JACK PAG

Share Buyback Announcements: JACK

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

S&P 500 -33 Dow Jones Industrial Average -326 NASDAQ -90 Russell 2000 -33 Fair values are lower.  Asia  and Europe mixed to lower.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.41 from $139.08 unchanged with yields at from 0.644%.

Positive Sectors On Wednesday: None of note .

Negative Sectors On Wednesday: Energy, Industrials,Financials and Real Estate of note.

One Month Winners: Technology, Healthcare and Communication Services of note.

Three Month Winners: None of note.

Six Month Winners:  Healthcare and Technology of note.

Twelve Month Winners: Healthcare, Technology and Communication Services of note.

Year to Date: None of note.

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

Today After The Close:  AMAT NLOK FTCH GLOB NEWR MDLA HLI SSRM CVET HUYA DENN BOOT CHUY  of note.

Friday Before The Open: JD VFC PBF of note.

Earnings This Morning Of Note

Beat:

EQM +0.47, GDS +0.37, BAM +0.06, NICE +0.02, AG +0.02, SPNS +0.01, WIX +0.01 of note.

Missed:

NCLH (0.50), SSYS (0.14), WNC (0.01) of note.

Still to Report: AZUL, KEM, MLCO, MDP, NVMI

 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 Thursday. (CNBC)

Coronavirus update: Military to update vaccine.

U.S. Coronavirus Map update.

IHME raises mid point guidance for U.S. COVID-19 deaths through August 4th to  147,040 from 137,184 deaths on May 11th.

Stock Index Tracking

Current through 5/13 close.  Moving averages struggled yesterday.

Bold means a change from prior day.

The advance/decline line model is now a buy on 4/2 close. Updated through 5/13  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 3.97% with the S&P 500 lower by -12.71% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy is up 11.61% through yesterday’s close. The advance/decline line has to be above 5,400 today to avoid a move to cash ending the sell signal. As such, if you are following the model you can adjust accordingly.

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 5/13 close. EVL Ranges remain above normal and are highlighted in blue had started to drop but the action the last couple of days ended that possibility.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

Weekly API Petroleum Institute Data came out at 4:30 p.m. EDT Tuesday and we missed reporting on this yesterday. Production rose 8 million barrels on crude oil which hurt Energy yesterday.

Weekly Jobless Claims  out at 8:30 a.m. EDT.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

Geopolitical & Related

Federal Reserve Minneapolis President Neel Kashkari speaks at 1:00 p.m. EDT.

Federal Reserve Dallas President Robert Kaplan speaks at 6:00 p.m. EDT.

President Trump will head to Allentown, PA to meet with employees of Owens & Minor at 1:30 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: SKX  (Webcast) 

Sellside Conferences: Credit Suisse Mexico Conference (5/11-5/14). Merrill Lynch Bank of America Transportation and Industrials Conference (5/11-5/14). Bank of America Merrill Lynch Global Virtual Healthcare Conference (5/12-5/14). JP Morgan Annual Global Technology, Media And Communication Virtual Conference (5/12-5/14). BMO Capital Markets Annual Virtual Farm to Market Conference (5/13-5/14). Goldman Sachs Virtual Industrials and Materials Conference. (5/13-5/14). Citi Virtual Chemicals Conference (5/14/20). Morgan Stanley Business Services Virtual One on One (5/14/20).

Industry Conferences: None of note.

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.