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"CAPIS Morning Note – 5/19/20 Fed Chairman Powell & Treasury Secretary Mnuchin To The Hill Today"

posted by CAPIS on 05/19/2020 at 6:24 am

by CAPIS

05/19/2020 at 6:24 am

Lead Headline: 

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: CLVS  HLI TPTX BLUE KRYS MRNA GMDA NVST GOSS  of note.

Notes Priced of note: None of note.

Common Stock filings: GMDA CLVS BLPH AVTR FSLY CABO KRYS MRNA HLI RP CVNA  of note.

Mixed Shelf Offerings:  EURN SCU of note.

Convertible Offering Files:  SE RP TCDA of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

BIDU +4.86 of note.

Misses: 

 IQ (0.72), BILI (0.44), BVN (0.31) of note.

Gap Up: ABUS +51%, DVAX +42%, DOC +8%, AAP +8%, BIDU +7%, SINA +4%,

Gap Down: GMDA -20%, BLPH -14%, GOSS -11%, CLVS -9%, CVNA -8%, NVAX -6%, IQ -6%, NVST -5%, MRNA -5%, BVN -5%

Hourly Action This Past Week: Updated 5/18 Close

News After The Close (In Order)

Walt Disney (DIS) names Josh  D’Amaro Chairman of Disney Parks and names Rebecca Campbell as Chairman of Direct to Consumer and International.

Walt Disney (DIS) Kevin Mayer the head of Disney+ leaving to become head of TikTok.

SmileDirectClub (SDC) files of $2.8 billion lawsuit against NBC News for defamation.

Softbank may sell shares in T-Mobile (TMUS) to Deutsche Telekom.

President Trump states he has been taking Hydroxychloroquine to prevent COVID-19.

Federal  Reserve Chairman Powell releases his testimony for Tuesday appearance.

Northrop Grumman (NOC) wins $2.38 billion Air Force contract.

Lockheed Martin (LMT) wins $490 million Air Force contract and $500 million Army contract.

Booz Hamilton (BAH) wins $800 million JAIC contract.

S&P Index Changes: S&P 500 WST to join, S&P 400 DOC  to join and S&P 600 HP to join.

Lowers Guidance: 

Raises Guidance: 

Withdraws 2020 Guidance: 

Dividend Increase:  

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 -7 Dow Jones Industrial Average -33 NASDAQ +13 Russell 2000 -4.49 Fair values are flat to lower.  Asia higher  and Europe lower.

Gold higher, silver lower and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.67 from $139.27 with yields at 0.73% from .70%.

Positive Sectors On Monday: Energy, Industrials, Real Estate and Financials of note.

Negative Sectors On Monday: None 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:  NTES SQM URBN KRNT RRR of note.

Wednesday Before The Open: LOW TGT ADI MCK VIPS VER EV ROLL FRO PLCE  of note.

Earnings This Morning Of Note

Beat:

EXP +0.41, DY +0.39, SINA +0.11, WMT +0.09 of note.

Missed:

KSS (1.44), AAP (0.68), HD (0.19) 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)

Stocks Making The Biggest Moves. (CNBC)

5 Things To Know To Start Your Tuesday. (CNBC)

Coronavirus update: U.S. cases above 1.5 million.

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 18th.

President Trump notes may pull funding for WHO if “major substantive improvements in the next 30 days” not made. (CNBC)

NASDAQ (NDAQ) to introduce new restrictions on Chinese IPOs. (Reuters)

California to open offices and shops with restrictions. (CNBC)

Zoom (ZM) suspends individual users from signing up in China. (Nikkei)

United Airlines (UAL) CEO Oscar Munoz says $5 billion not enough. (Bloomberg)

Delta (DAL) to add flight to keep planes at 60% capacity. (Reuters)

Stock Index Tracking

Current through 5/18 close.  Moving averages rebounded Monday.

Bold means a change from prior day.

The advance/decline line model moved to cash last Friday. Updated through 5/18  close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.25% with the S&P 500 lower by -11.36% through Friday 5/15. Now 6 buy signals and 4 cash signals in 2019 and 2020. The latest buy gained 12.89% 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 5/18 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:

April Housing Starts are due out at 8:300 a.m. EDT and are expected to fall to 950,000 from 1,216,000.

Weekly API Petroleum Institute Data is due out after the close at 4:30 p.m. EDT.

Geopolitical & Related

President Trump will speak at 11:00 a.m. EDT addressing the farmers, ranchers and food supply chain. At 3:00 p.m. EDT, the president holds a cabinet meeting.

The World Health Organization (WHO) continues its 73rd World Health Assembly.

Federal Reserve Chairman Jerome Powell and Secretary of Treasury Steven Mnuchin will testify before the Senate at 10:00 a.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  JNJ NVS SNE (Investor/Analyst Meeting)  NXTD APM (Webcast) CUE PAYX (Update)

Sellside Conferences: Needham Virtual Technology & Media Conference (5/15-5/20). UBS Virtual Healthcare Conference (5/18-5/20). JP Morgan Annual Homebuilding and Building Products Conference (5/18-5/19). B. Riley Annual Conference (5/19-5/21). Suntrust Robinson Humphrey Financial Services Conference (5/19-5/20). Wolfe Transportation Transportation Conference (5/19-5/21). RBC Capital Markets Global Healthcare Conference (5/19-5/20)

Industry Conferences: American Thoracic Society (5/15-5/20).

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.