IPOs on deck: ADC Therapeutics (ADCT) prices IPO.
IPOs Filed: None of note.
Secondaries Priced: PRPL TGTX OYST of note.
Notes Priced of note: TDC PETQ of note.
Common Stock filings: TGTX of note.
Mixed Shelf Offerings: CHH PGC TARA of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
NEWR +0.11, NLOK +0.10, DENN +0.07, SSRM +0.04, GLOB +0.02, GTBIF +0.01 of note.
DDS (5.97), CVET (0.46), HBM (0.16), FTCH (0.04) of note.
Gap Up: NEWR +18%, OCUL +17%, DENN +11%, HBM +10%, DDS +8%, GLOB +4%, JD +4%, PBF +4%, SSRM +4%
Gap Down: CODX -13%, FTCH -9%, HOLI -8%, CVET -7%, OYST -6%, BLU -5%, TGTX -4%
Hourly Action This Past Week: Updated 5/14 Close
News After The Close (In Order)
Science Applications (SAIC) wins $42 million Army task order.
NYSE to re-open floor on May 26th.
Lockheed (LMT) wins $900 million Navy contract.
CDC posts openings for various types of locations. (CDC)
Lowers Guidance: NKE
Raises Guidance: GLOB
Withdraws 2020 Guidance:
Dividend Increase: AAON
Dividend Cut or Suspended:
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 -28 Dow Jones Industrial Average -211 NASDAQ -129 Russell 2000 -13 Fair values are higher to mixed. Asia and Europe mixed to lower.
Gold lower, silver higher and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139.56 from $139.41 with yields at .60% from 0.644%.
Positive Sectors On Thursday: Financials, Materials and Consumer Cyclicals of note.
Negative Sectors On Thursday: Consumer Defensive 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: None of note.
Monday Before The Open: of note.
Earnings This Morning Of Note
None of note.
JD (0.35), PBF (0.13) of note.
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day. (Bloomberg)
IHME raises mid point guidance for U.S. COVID-19 deaths through August 4th to 147,040 from 137,184 deaths on May 11th.
Dr. Scott Gottlieb notes in CNBC interview that NYU study was incorrect in analysis of Abbott COVID-19 tests and mystery illness in children is not connected to COVID-19. (CNBC)
Stock Index Tracking
Current through 5/14 close. Moving averages are in trouble.
Bold means a change from prior day.
The advance/decline line model moves to cash today. Updated through 5/14 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 Wednesday’s close. The advance/decline line has to be above 5,400 Thursday to avoid a move to cash ending the sell signal. That did not happen. 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 5/14 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.
Economic & Related:
April Retail Sales is due out at 8:30 a.m. EDT and is expected to fall to -11.9% from -8.7%.
April Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to -12.1% from -5.4%.
University of Michigan Consumer Sentiment (Preliminary) is due out at 10:00 a.m. EDT and is expected to fall to 67.4% from 71.80%.
The U.S. China Enforcement Provision of the US/China Trade Deal will be announced at 2:00 p.m. EDT.
Geopolitical & Related
President Trump will speak at noon on vaccine development. At 12:30 then participates in a presentation of the U.S. Space Flag and signs Armed Forces Proclaimation. Press conference at 2:00 p.m. with Kayleigh McEnany. At 2:30 the president receives his intelligence briefing. Finally, at 4:00 p.m. the president delivers remarks at a Presidential Recognition Ceremony: Hard Work, Heroism and Hope.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: PFE RARE (Conference) SKT (Investor/Analyst Meeting) (Webcast)
Sellside Conferences: Needham Virtual Technology & Media Conference (5/15-5/20). Bank of America Auto Summit (5/15-5/18)
Industry Conferences: American Thoracic Society (5/15-5/20). American Urological Association Annual Meeting (5/15-5/18)
Upgrades & Downgrades: