Key Interview: CNBC interviews Federal Reserve Dallas President Robert Kaplan as we go to press.
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: CABO FND RP OCUL of note.
Notes Priced of note: CYRX MODN TCDA RP of note.
Common Stock filings: VNRX BDX CSGP FND ALRM OCUL KWR of note.
Mixed Shelf Offerings: None of note.
Convertible Offering Files: SE of note.
Senior Notes Filed: None of note.
Earnings After The Close:
NTES +3.90, SQM +0.07 of note.
RRR (2.16), URBN (1.15), KRNT (0.11) of note.
Gap Up: PAE +29%, KRNT +15%, ARR +9%, LOW +7%, EIGR +6%, CSV +5%, QIWI +4%
Gap Down: VNRX -13%, ALRM -5%, OCUL -5%, CABO -4%, URBN -4%,
Hourly Action This Past Week: Updated 5/19 Close
News After The Close (In Order)
PAE wins 10 years contracts with U.S> Customs and Border Protection Agency.
Johnson & Johnson (JNJ) to permanently stop the sale of talc based baby powder in the U.S. and Canada.
Lockheed Martin (LMT) to slow the pace of production for F-35 jets in Texas.
President Trump may ban travel to Brazil due to coronavirus.
Viasat (VSAT) wins $999 million Navy contract.
Lowers Guidance: MCK
Raises Guidance: KRNT
Withdraws 2020 Guidance:
Dividend Increase: AMT ARR NOC CLX NAT
Dividend Cut or Suspended: RRR TILE HAL
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 +35 Dow Jones Industrial Average +301 NASDAQ +111 Russell 2000 +25.78 Fair values are lower. Asia mixed and Europe higher.
Gold, silver and copper higher. 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 $138.94 from $138.67 with yields at 0.719% from 0.73%.
Positive Sectors On Tuesday: None of note.
Negative Sectors On Tuesday: Financials, Utilities and Energy 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: SNPS ZTO CPRT TTWO TCOM EXPE NDSN YY LB SKY HUYA BOOT SCVL of note.
Thursday Before The Open: MDT TJX HRL BBY BJ WMS BRC LX USPH TGP DAVA MANU AINV TNK of note.
Earnings This Morning Of Note
LOW +0.45, TGT +0.19, MCK +0.17, ADI +0.04, VER +0.01 of note.
SFL (1.06), FRO (0.08) of note.
Still to Report: EV, ROLL, RCL
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 18th.
Mid May U.S. driving trends back to down -5% YTD from -50% in early April with public transit down -65% YTD. (Apple Mobility)
Stock Index Tracking
Current through 5/19 close.
Bold means a change from prior day.
The advance/decline line model moved to cash last Friday. Updated through 5/19 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.
Economic & Related:
Weekly API Petroleum Institute Data was after the close at 4:30 p.m. EDT and saw a draw of 4.8 million barrels.
Weekly MBA Mortgage Applications fell -2.6% week over week.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
The latest Federal Reserve Open Market Committee (FOMC) minutes are due out at 2:00 p.m. EDT.
Geopolitical & Related
President Trump will attend his intelligence briefing at 11:45 a.m. EDT. Then at 12:300 the president holds a conference call with the National Hispanic Community. Press Secretary Kayleigh McEnany holds a briefing at 3:00 p.m. EDT. At 4;00 p.m. EDT, the president meets with the governors of Kansas and Arkansas.
Federal Reserve Atlanta President Raphael Bostic and Federal Reserve St. Louis President James Bullard both speak at 10:00 a.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: FVCB ANH PEYE (Investor/Analyst Meeting) MIXT (Webcast) KOP (Update)
Sellside Conferences: Needham Virtual Technology & Media Conference (5/15-5/20). UBS Virtual Healthcare Conference (5/18-5/20). 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). Wells Fargo Financial Services Conference.
Industry Conferences: American Thoracic Society (5/15-5/20).
Upgrades & Downgrades: