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07.13.2020 9 new Morning Note posts under Morning Note (9)

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"CAPIS Morning Note -6/5/20 Futures On Fire Over Job’s Data"

posted by CAPIS on 06/05/2020 at 6:28 am

by CAPIS

06/05/2020 at 6:28 am

The Story – Job’s data see Payroll rise by 2.51 million.

IPOs on deck:  Shift4 Payments (FOUR) priced at $23 from $19-21 range. Applied Molecular Transport (AMTI) priced at $14 from $12-$14 range.

IPOs Filed:  None of note.

Secondaries Priced: AUDC ATH (selling shareholders and company) of note.

Notes Priced of note:  RCL of note.

Common Stock filings: MNLO MTEM  PYPPL (seeling shareholders)  of note.

Mixed Shelf Offerings: JEF  NAK  of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

MTN +0.64, RH +0.50, DOMO +0.23, NX +0.14, MDB +0.12, SPWH +0.09, PD +0.05, WORK +0.04, DOCU +0.02, YEXT +0.02 of note.

Flat: 

AVGO +0.00, SAIC +0.00

Misses: 

GPS (1.91), COO (0.91), CAL (0.44), ZUMZ (0.15) of note.

Gap Up: QEP +47%, NVAX +15%, AAL +11%, DOMO +10%, UAL +9%, SAVE +8%, CCL +7%, NCLH +7%, JETS +7%, JBLU +7%, DAL +7%, MTN +5%, RCL +5%, DOCU +4%, BP +4%, TOT +4%.

Gap Down: MNLO -15%, WORK -13%, ZUMZ -7%, COO -6%, GPS -5%, GME -4%.

Hourly Action This Past Week: Updated 6/3 Close

News After The Close (In Order)

Thursday afternoon massacre as American Airlines (AAL) cans 14 officers.

Vail Resorts (MTN) saw total skier visits fall 26% which is not as bad as estimated.

La-Z-Boy (LZB) to cut 10% of workforce due to Covid-19.

Amazon (AMZN) Web Services picks up multi-year agreement with Slack (WORK).

Universal Orlando reopens.

Valvoline (VV) sees improvement for May from April.

Business Insider notes many retailers did not pay rent in April and May which runs contrary what most REITS have reported.

Elon Musk calls for breakup of Amazon (AMZN).

Raises Guidance:  PD DOCU  WORK YEXT 

Lowers Guidance: GME

Withdraws Guidance: WORK ( billing guidance on 2021)

Dividend Cut: 

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

S&P 500 +48 Dow Jones Industrial Average +620 NASDAQ +6.84 Russell 2000 +54.84 . Fair values are higher.  Asia and Europe higher.

Gold and silver lower with copper higher. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $137.39 from$138.20  with yields at 0.92.

Positive Sectors On Thursday: Financials, Industrials and Materials of note.

Negative Sectors On Thursday: Utilities, Communications Services, Healthcare and Technology of note.

One Month Winners: Industrials, Materials and Financials of note.

Three Month Winners: Consumer Cyclical, Technology and Materials of note.

Six Month Winners:  Technology, Healthcare and Consumer Cyclical of note.

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

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

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

Today After The Close:  None of note.

Monday Before The Open: THO REVG of note.

Earnings This Morning Of Note

Beat:

None of note.

Missed:

None of note.

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)

Coronavirus update: Hospitalizations on the rise in the U.S.

U.S. Coronavirus Map.

Covid-19 cases rising in 16 states, with 20 flat and 14 declining.

OPEC+ will meet on Saturday. (Reuters).

President Trump asks regulators to tighten scrutiny on Chinese listed companies. (Nikkei)

Goldman Sachs sees better chance of Democrats gaining control of Senate and White House. (CNBC)

Study retracted  on The Lancet that hydroxychloroquine raised death possibilities for those with heart issues. (The Hill)

Novavax (NVAX) wins Department of Defense (DOD) contract on Covid-19 vaccine, worth $60 million.

L Brands (LB) UK unit files for bankruptcy in U.K. (WSJ)

Stock Index Tracking

Current through 6/4 close. Both the Dow and Mid Cap are close to breaking above their 200 day moving averages.

Bold means a change from prior day.

The advance/decline line model is now a BUY. Updated through 6/4 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 -7.40% through yesterday. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal is up.

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 6/4 close. EVL Ranges remain above normal and are highlighted in blue but are trying to return to normal.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

May Nonfarm Payrolls are due out at 8:30 a.m. EDT and is expected to improve from -20.50 last month to -8.5 million.

The May Unemployment Rate is expected to rise to 20% from 14.7%.

Geopolitical & Related

President Trump will travel to Bangor, Maine and hold a round table with commercial fisherman and sign a Proclamation. Then at 3:25 p.m. the president will tour Puritan Medical Products.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: NERV MD (Conference Call) 

Sellside Conferences:  Credit Suisse Global Energy Conference (6/2-6/5). Barclays High Yield Bond and Syndicated Loan Conference (6/3-6/5). Citi Consumer Corporate Day (6/5). Piper P.S. It’s Friday: Remote Alphabet Soup/ SASE vs SD-WAN (6/5).

Industry Conferences: None of note.

M&A

VMware (VMW) to buy Lastline. (Tech Crunch)

Chegg (CHGG) buys Mathway for $100 million in cash.

Upgrades & Downgrades:

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